Cryptocurrency exchange

Lexatrade Review Is it good, or is it a scam?

todayAugust 16, 2023 3

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Altogether, it’s just a middle-of-the-pack broker, and there are a ton of similar companies out there. It doesn’t do anything to stand out, and the vast majority of traders can easily find an option that’s both more comfortable and more powerful. Lexatrade has potential, but it also has a lot of things bogging it down and making numerous questionable decisions. The asset access is limited, your withdrawal requests are low priority, and the spreads are extremely high. We’re nearly certain the broker made the accounts just to seem more open. However, better options are present online, and it’s easy for most traders to switch.

  • Besides, LexaTrade’s Web platform offers all the tools that can turn a skilled trader into a profitable trader.
  • The size of the profit depends on the size of the transaction and on how much the exchange rate has increased.
  • The broker can be reached through multiple channels, including phone line and email.
  • A mobile platform is available but Demo accounts are not; US traders are not accepted.

On the other hand, the Web platform offered for the minimum account is quite enough for the average trader, so maybe that’s not a deal breaker. The broker set up strict payment procedures for the safety of the trader’s funds and to prevent financial theft. The broker even partners with reliable and trusted international banking institutions while steering their corporate funds.

What Payment Methods Are Available At Lexatrade?

LexaTrade learning is an interactive educational feature that aims to help novice traders to understand and learn about the market. The platform allows traders to access all popular commodities worldwide. However, much information regarding the same is unavailable on its website.

Moving forward with this LexaTrade review, we will further discuss the platform’s fees, platforms and account types. LexaTrade offers several trading instruments to choose from, with high leverage and low spreads for high liquidity and profits. And that’s without mentioning our hunch that the broker isn’t entirely honest.

CUSTOMER SUPPORT

The parent company of LexaTrade is Swissone Group Ltd, located in St. Vincent and the Grenadines. Of course, the broker has options for downloadable terminals, web platforms, and mobile apps. Again, as we said earlier in our Lexatrade review, the broker doesn’t do anything that sets off alarms.

What Trading Platforms Are Available On LexaTrade?

Our mission is to assist millions of traders in finding the best broker. We unbiasedly review every broker and rank them based on their market standing, regulation, and other factors. Reviews are updated regularly to ensure that every trader has the most up-to-date information before making a choice. The company charges a service charge of 5% if users make less than 5 independent transactions. The platform is somehow new in comparison to some reliable names dominating the forex industry.

Stop Loss

LexaTrade is a reliable broker that provides exceptional speed, functionality, and profitability. The platform is designed to offer a convenient and user-friendly trading experience, with excellent terminals that make trading profitable while minimizing risks. With over 170 trading instruments, various tools, and timely risk management features, the platform ensures a high-quality trading experience overall. LexaTrade’s MT4 web terminal is a highly secure and reliable trading platform, incorporating advanced technology and offering a seamless trading experience. It is compatible with all major web browsers and enables traders to execute various types of transactions. If the bank charges a commission when you make a deposit, our company compensates it in full.

How To Open An LexaTrade Account?

The setup itself is tried and true and is one of the most common ways for brokers to structure their accounts. It allows them the greatest reach, as the primary concern with the accounts is budget rather than trading style. That means the accounts suit most strategies, and as such, can attract diverse groups of traders. Market experts have developed a set of trading strategies that, if properly applied in a given market situation, will help the trader.

The methods for deposit are Visa, CryptoWallet and e-Payouts and we assume the same methods will be used for withdrawals, although LexaTrade doesn’t mention this specifically. All early signs show that LexaTrade is not a scam but keep in mind this is a very new CFD broker. This is not https://cryptolisting.org/blog/is-buying-land-a-good-investment the case with LexaTrade and thus far we consider this CFD broker a reliable partner for your trading needs. The trader can contact LexaTrade customer care to recover their money. If this doesn’t work, traders can raise a complaint to IFMRRC, the regulatory watchdog of LexaTrade.

Written by: Lucia

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