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LexaTrade Review: Avoid This Scam Forex Broker

lexatrade review

This is not the case with LexaTrade and thus far we consider this CFD broker a reliable partner for your trading needs. Lexatrade charges a spread on trades, which is the difference between the buy and sell price of a financial instrument. The spread varies depending on the account type and the financial instrument being traded.

Risk Warning:

Fill the form below or Use our Chatbot and get a Free Consultation from CNC Intelligence Experts, they can assist you by investigating your case and tracing your funds. You should also contact your bank as soon as possible and let them know about your issue. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. Organization and company which provides financial services need to obey various policies and get approval from regulators in every jurisdiction. As per LexaTrade conditions, if the referred client makes a deposit between $500 to $10,000, then 50% of it will be the referral bonus.

  1. We are back with our unbiased review of LexaTrade, an online trading broker company.
  2. Lexatrade charges a spread on trades, which is the difference between the buy and sell price of a financial instrument.
  3. LexaTrade claims to be an online brokerage offering access to various financial instruments such as forex, indices, and commodities.
  4. Live chat support was available at the time of our visit but a bit slow to answer.
  5. It allows them the greatest reach, as the primary concern with the accounts is budget rather than trading style.

Many regulated brokers allow $50 and even $10 as minimum deposits, so maybe you should pick one of those. On the other hand, if you are confident in your abilities and $250 is not a lot for you, then LexaTrade may be a good choice. On the other hand, the majority of traders don’t need Expert Advisors, scripts and the (sometimes) stuffy interface of Meta Trader.

Reviews2.7

Unregulated entities can potentially abscond with your money without being held accountable. 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. 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 in the Website. Several red flags have emerged from user experiences that cast doubt on LexaTrade’s legitimacy, making it essential to understand these warning signs before investing any money. Unfortunately LexaTrade doesn’t offer a lot of information about withdrawals but according to the website, a representative will contact you to complete the processing, which takes up to 24 working hours.

Besides, LexaTrade’s Web platform offers all the tools that can turn a skilled trader into a profitable trader. The broker doesn’t hide the fact that it’s trying to goad you into depositing more. Even the withdrawal speeds increase as you go up to the higher accounts.

Is LexaTrade a Scam? Honest Review 2023

The case with its funding is much of the same, as there are some things that look good. For starters, there’s the fact that the cheapest account doesn’t require a huge deposit. Given the abundance of warning signs, potential investors are advised to avoid LexaTrade. Numerous reports indicate that this platform may be a scam, with serious issues related to funds accessibility, aggressive tactics, and regulatory opacity. For those looking to enter the trading market, many reputable and transparent platforms offer safer and more secure services.

lexatrade review

LexaTrade Review

A mobile platform is available but Demo accounts are not; US traders are not accepted. 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. That being said, caution should be used anytime money is involved, with all brokers, old or new. Brokers required various licenses and regulators’ approval to serve lexatrade review investors and traders.

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