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. 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.
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. 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.
Furthermore, while there are some solid conditions, they all come with high price points. And if you’re already depositing that much, there are many brokers that do what Lexatrade does but better. 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. So the regulation may impose negligible limits on the broker while generating a false sense of confidence for potential customers. IFMRRC stands for International Financial Market Relations Regulation Center.
SILVER ACCOUNT
The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained https://cryptolisting.org/blog/direct-and-indirect-bills-track-your-expenses in the Website. The same goes for visuals, as the various elements are glaringly mismatched. It looks like the broker took stock images, put them in boxes, and called it a day.
- A trader, before investing, should research about the broker’s regulation and license.
- The genuine features of the platform that are worth considering include bonuses, advanced trading platforms and learning programs.
- LexaTrade is an online financial services company thats been providing superior and transparent trading services to all traders across the world in the trading markets.
- Had a poor experience investing my money; it wasn’t simple for me because I was scammed numerous times.
- Many regulated brokers allow $50 and even $10 as minimum deposits, so maybe you should pick one of those.
LexaTrade offers diverse trading instruments such as Forex, Commodities, Indices and Shares. LexaTrade is licensed and regulated by the International Financial Market Relations Regulation Center (IFMRRC). From abuse of power by tech giants, to fake reviews, scams and rip-offs like being caught in a subscription trap – consumers deserve better. Today’s announcement follows the Government’s responses to the ‘reforming competition and consumer policy’ and ‘a new pro-competition regime for digital markets’ consultations published last year.
xCritical Mobile App
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.
Is LexaTrade a Scam? Read This Brutally Honest Review
The broker also provides different trading assets for higher liquidity with high leverage and low spreads. Live chat support was available at the time of our visit but a bit slow to answer. 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. The owning/operating company is Swissone Group Ltd, located in St. Vincent and the Grenadines and registered with the IFMRRC – Certificate TSRF RU 0395 AA V0165.
Fund and Account Security
Also, scammers, as you read in this ASR review, are famous for not withdrawing your money. They may ask you for more and more money and never return a single penny of your earnings. Thus, LexaTrade guides investors before they start investing through their educational resources. Fill out the application form with your personal information, including your name, mobile number, email address, and a secure password. The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose.
LexaTrade Review: Regulation and License
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. Our in-depth and unbiased reviews help investors in choosing the best broker according to their investing needs. Lexatrade ensures high-grade security measures for all the services it provides, to secure client’s funds.
The company charges a service charge of 5% if users make less than 5 independent transactions. The deposits are processed instantly, while withdrawal may take up to 3-5 business days. The broker’s low user ratings of 2.1, which shows the platform’s low credibility. Rather than opting LexaTrade scam, we recommend you to incline towards a more trusted platform like InvestFW. 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.
What Payment Methods Are Available At Lexatrade?
This Bill will help to deliver fairness for both hospitality venues and their customers in this area, and we look forward to working with Government to achieve this. Many fraud forex brokers or other scam brokers are working under fake organization names or other deceitful activities. Managing financial firms approved or enrolled by legal authorities gives you more prominent assurance assuming things turn out badly.