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Is LexaTrade a Scam? Read This Brutally Honest Review

As you progress through the accounts, the bonus we mentioned earlier in our Lexatrade review grows. Similar bonuses often have thick strings attached, so be sure to read the terms if you intend to invest. Again, as we said earlier in our Lexatrade review, the broker doesn’t do anything that sets off alarms. It’s by no means a strict scam, and in fact, it’s safer than the average broker, but you still need to tread carefully. So there’s the argument that some regulation is better than none, and that does hold up.

  • That isn’t an exact rule, but it’s something we’ve found to be true more often than not.
  • These educational resources provided by LexaTrade aim to empower traders with valuable information and tools to make informed trading decisions.
  • Whether a beginner or an experienced trader, the XCritical mobile app is a great way to enhance your trading experience.
  • A mobile platform is available but Demo accounts are not; US traders are not accepted.

LexaTrade is an unregulated brokerage firm based in Saint Vincent and the Grenadines. It offers multiple account types with varying minimum deposit requirements, all supporting the use of expert advisors. The broker utilizes the MT4 trading platform, a popular choice among traders. LexaTrade offers a variety of trading platforms according to the trader’s needs. The enhanced account offering helps traders to trade efficiently and thus improves their trading game. The broker is regulated, but not efficiently by a tier 1 regulation, so clients should be careful while investing with the broker.

What is the maximum leverage offered by LexaTrade?

The broker offers different types of accounts to its clients for better trading experience. A trader, before investing, should research about the broker’s regulation and license. If the broker doesn’t hold any license, then there must be a risk of scam. Firstly, guarantee the license is from a reliable controller and not one who gives a license to any individual who pays a charge. Legitimate specialists might have the option to accomplish something, yet controllers can remove the license from trick intermediaries. The broker offers 5 primary account types, catering to the needs of every sort of trader.

Rather than opting LexaTrade scam, we recommend you to incline towards a more trusted platform like InvestFW. Our in-depth and unbiased reviews help investors in choosing the best broker according to their investing needs. Here you get assistance perceiving a scam broker before you are excessively profound into it. At whatever point you are in question about any dealer, the best practice is to let the asset recuperation experts help you. They are capable experts with the ability and instruments to detect a con artist and get your assets back. Furthermore, while there are some solid conditions, they all come with high price points.

Although we do daily broker reviews, we’ve never heard of it before. The website is translated in 6 languages, the platform is relatively easy to use and offers all the features needed by an average trader. A mobile platform is available but Demo accounts are not; US traders are not accepted.

IC Markets

And without the broker specifying the times, who knows how long it might take for you to get your money. The broker offers its traders two platforms, as we’ve indicated earlier in our Lexatrade review. And even then, you only get the web version, and you need the $50,000 account for the full unlock. One fact that’s relieving and concerning at the same time is the broker’s choice of the regulator.

Trading Platforms

LexaTrade provides its clients with a wide range of trading markets, allowing them to access various financial instruments and assets. Traders have the opportunity to trade in different markets, including currency pairs, indices, commodities, metals, energy products, and stocks. Many fraud forex brokers or other scam brokers are working under fake organization names or other deceitful activities. A fundamental examination can go far in securing you and your accounts.

Information about withdrawals is missing and this should be addressed by LexaTrade. Of course, we cannot vouch for the accuracy of the signals but it’s a nice addition. Also keep in mind that the company is regulated (IFMRRC), which is not the fiercest of financial watchdogs, but any type of regulation is better than no regulation at all.

So, to help you out in deciding whether it’s a worthy broker, let’s take an in-depth look at the platform with our detailed LexaTrade review. XCritical, on the other hand, is a web-based trading platform that offers traders the convenience of accessing the markets without the need to install any additional software. As a webtrader, xCritical can be accessed through a web browser on desktop computers and mobile devices.

User Exposure on WikiFX

Investing in indices such as NAS100, EUR50, JPN225, and USA30 provides several advantages to traders who are interested in index trading. Cheapest and most expensive aren’t the most precise terms, as there’s no actual cost attached to the account. However, we can’t neglect the fact that $100,000 is a hefty sum and isn’t something anyone can reach. IFMRRC stands for International Financial Market Relations Regulation Center. It’s a non-commercial organization that regulates about 60 brokerages. However, it’s apparent that it’s much less limiting than even the more lenient country-based regulators.

The platform offers a long list of trading instruments, is regulated and most importantly, is not a scam. A web-based proprietary platform is offered by LexaTrade, such as MetaTrader4 and LexaTrade
app – xCritical Mobile App. While the platform offers a considerable service, we still advise to choose among legit brokers like InvestFw. All account types offered by LexaTrade support the use of expert advisors (EAs), automated trading systems commonly used in the Forex market. There are also other newbie-baiting features, such as the bonus that Lexatrade offers.

A classic choice, particularly in Forex trading, the MT4 platform has garnered trust from seasoned traders ever since its launch in 2005. Brokers Complaint is always trying to find different scam brokers present in the market as how old is lexatrade well as the new emerging scam brokers to warn traders. Through LexaTrade review our aim is to warn traders not to trade with this broker because this broker is suspected to be a scam according to the research done by our team.

LexaTrade offers several trading instruments to choose from, with high leverage and low spreads for high liquidity and profits. It offers a diverse range of payment options ranging from bank wire transfers to credit/debit cards, from Skrill to Neteller. LexaTrade has gained recognition as a reputable multi-asset broker by providing quality services and financial instruments to its clients. The most commonly used trick that scammers follow is offering a high bonus.

The platform allows traders to access all popular commodities worldwide. However, much information regarding the same is unavailable on its website. Yes, LexaTrade is a scam broker as it is not regulated by any top tier regulatory watchdog. However, it holds a licence from the International Financial Market Relations Regulation Center. Despite this, it is an off-shore broker restricted to operate in the US and Europe.

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