The charges are higher compared to the platform we have reviewed so far. The spreads vary on the account type and the instrument traders trade in. Moving forward with this LexaTrade review, we will further discuss the platform’s fees, platforms and account types.
Trading platforms offered by LexaTrade are MetaTrader4, XCritical Mobile app, and LexaTrade WebPlatform. Investing in commodities can be a great way to diversify your portfolio and achieve long-term gains. It’s important to carefully consider options before making any investments, and LexaTrade is a trusted broker that can help you navigate this process. With their 24-hour client service team, you can get the support you need whenever you need it. It offers a diverse range of payment options ranging from bank wire transfers to credit/debit cards, from Skrill to Neteller. As you progress through the accounts, the bonus we mentioned earlier in our Lexatrade review grows.
- Trade and invest freely from anywhere on the planet with LexaTrade online platform using high-tech functionality, speed and profitability of the terminal.
- The broker’s low user ratings of 2.1, which shows the platform’s low credibility.
- The broker even partners with reliable and trusted international banking institutions while steering their corporate funds.
- Perhaps we’re being too harsh since if you know what you’re looking for, you’ll find it.
- As the platform is not worth considering, I was looking for the best alternative, and after researching for days, the most recommended broker I found was InvestFw.
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. LexaTrade customer support is very impressive as it offers full-time support with 24/7 operating hours. The broker can be reached through multiple channels, including phone line and email.
LexaTrade vs InvestFW
The support team is problem-solving and responds quickly, so the overall communication with the team was great. MT4 is one the world’s most famous and reliable trading platforms for Forex. The user-friendly UI of the platform helps both beginner and professional alike.
- However, much information regarding the same is unavailable on its website.
- The broker can be reached through multiple channels, including phone line and email.
- Reviews are updated regularly to ensure that every trader has the most up-to-date information before making a choice.
- The broker doesn’t hide the fact that it’s trying to goad you into depositing more.
The default proprietary platform is good enough, with an intuitive interface and a solid set of analytical features. As such, we can’t hold the deposit requirement for MT4 against the broker too much. But as we lexatrade said, we don’t like paywalls for core features as a practice, although you may not mind them at all. Cheapest and most expensive aren’t the most precise terms, as there’s no actual cost attached to the account.
Can I Get My Money Back From LexaTrade?
That means the accounts suit most strategies, and as such, can attract diverse groups of traders. There are also other newbie-baiting features, such as the bonus that Lexatrade offers. A deposit match isn’t inherently a bad thing, but it’s commonly used by malicious brokerages. There are 170 trading instruments on the platform, among them the most popular stocks and indices, precious metals and energy products.
There is no mention of an inactivity fee but we cannot guarantee that you won’t be charged one. Live chat support was available at the time of our visit but a bit slow to answer. The minimum deposit is $250 and the available methods are Visa, CryptoWallet and e-Payouts; the processing time is not specified. Information about withdrawals is missing and this should be addressed by LexaTrade. The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client. LexaTrade is a newly launched, regulated broker that offers CFD trading on currencies, cryptocurrencies, indices, and commodities.
LexaTrade Referral Program
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. Even Though the regulation of brokers is not refined, the reviews of the broker online are satisfactory. The broker also provides different trading assets for higher liquidity with high leverage and low spreads. XCritical mobile app offers an easy-to-use interface, traders can access their trading account on the go, without any hassle.
Rather than opting LexaTrade scam, we recommend you to incline towards a more trusted platform like InvestFW. LexaTrade is a Forex and CFD broker that offers to trade in currencies, indices, and commodities. The parent company of LexaTrade is Swissone Group Ltd, located in St. Vincent and the Grenadines. 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. The broker’s offer does actually seem decent enough, but the presentation isn’t up to par.
How To Recover My Money From Forex Lexa Trade?
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. It is regulated by the International Financial Market Relations Regulation Centre, making it a reliable broker in the forex market. The broker offers different types of accounts to its clients for better trading experience. The broker offers 5 primary account types, catering to the needs of every sort of trader.
The deposits are processed instantly, while withdrawal may take up to 3-5 business days. If you’ve been following our detailed Lexatrade review 2023, you have likely noticed the platform has not much to offer to its users. The broker’s low user ratings of 2.1, which shows the platform’s low credibility.
How To Trade On LexaTrade?
The platform is somehow new in comparison to some reliable names dominating the forex industry. However, it garnered popularity among traders with its one-of-a-kind features and the services. The broker doesn’t hide the fact that it’s trying to goad you into depositing more.
However, much information regarding the same is unavailable on its website. Deposits are processed immediately, ensuring that you have access to your funds whenever you need them for trading. However, withdrawals may take a bit longer, usually about 3-5 business days to process. This is to provide the necessary time for necessary transaction procedures. LexaTrade has gained recognition as a reputable multi-asset broker by providing quality services and financial instruments to its clients. Of course, the broker has options for downloadable terminals, web platforms, and mobile apps.
It’s essential to recognize that, albeit rarely, minor fluctuations may arise. Please be assured that our dedication to delivering unbiased assessments, exhaustive scrutiny, and well-informed perspectives remains resolute. Lexatrade ensures high-grade security measures for all the services it provides, to secure client’s funds. So there’s the argument that some regulation is better than none, and that does hold up. But there’s also the fact that while it’s better than nothing, it’s not a significant improvement.
In order to attract more traders on the platform, LexaTrade often starts promotions. There is not a single complaint regarding the same, so, we can rate it good in this case. The platform allows traders to access all popular commodities worldwide.