On the other hand, the majority of traders don’t need Expert Advisors, scripts and the (sometimes) stuffy interface of Meta Trader. Also lexatrade review trustpilot , lexatrade wikipedia are also showing bad numbers. LexaTrade’s MT4 web terminal is a highly secure and reliable trading platform, incorporating advanced technology and offering a seamless trading experience.
- Trading is protected and dependable with the right broker and a nightmare with a scam broker.
- As we are wrapping this in-depth LexaTrade review, the only thing I would say is to avoid this platform.
- However, it holds a licence from the International Financial Market Relations Regulation Center.
- Additionally, other incentives may also be provided to encourage the investor to get their friends and family onboard the platform too.
- Altogether, it’s just a middle-of-the-pack broker, and there are a ton of similar companies out there.
That being said, caution should be used anytime money is involved, with all brokers, old or new. The risks involved in using unregulated companies like LexaTrade include the https://cryptolisting.org/blog/how-do-you-value-a-company-based-on-financial-statements inability to file a complaint with a credible regulatory authority in case of a dispute. In order to attract more traders on the platform, LexaTrade often starts promotions.
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. Of course, broker appearance is nearly entirely irrelevant, but our point is that Lexatrade looks like something hastily put together.
LexaTrade Review: Promotions, Bonuses & Offers
We wouldn’t be surprised if entry-level traders couldn’t find their way around and simply decided to use another brokerage. The broker offers 5 primary account types, catering to the needs of every sort of trader. The minimum deposit at LexaTrade is $250m whereas its competitors offer account opening at $0.
However, that’s a minor complaint, as what you get for each account is actually pretty fair for the price point. One more significant concern is that the broker locks the MT4 platform behind the more expensive account types. The setup itself is tried and true and is one of the most common ways for brokers to structure their accounts.
Have control over your money as we provide the favorable terms
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. Constant vigilance should be applied at all times when trying to invest in trading platforms. When a broker is unregulated or regulated by an entity outside of your jurisdiction, you have limited to no legal recourse in the event that your funds are compromised.
Altogether, it’s just a middle-of-the-pack broker, and there are a ton of similar companies out there. However, it’s apparent that it’s much less limiting than even the more lenient country-based regulators. Perhaps we’re being too harsh since if you know what you’re looking for, you’ll find it.
How To Trade On LexaTrade?
The spreads vary on the account type and the instrument traders trade in. Overall this is a promising broker but a few tweaks here and there would make it a better one. This does seem like a friendly broker, but I am not sure it’s the best choice for a total beginner, simply because the lowest deposit to open an account is $250. Many regulated brokers allow $50 and even $10 as minimum deposits, so maybe you should pick one of those.
Keep yourself away from The Scam Broker If You Notice the Following
There is not a single complaint regarding the same, so, we can rate it good in this case. However, better options are present online, and it’s easy for most traders to switch. 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.
This is not the case with LexaTrade and thus far we consider this CFD broker a reliable partner for your trading needs. Lexa Trade allows global traders to access financial markets, including Forex, Stocks etc. However, the broker has a low user rating, with mixed reviews as some complain about the platform while others appraise it. 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. LexaTrade learning is an interactive educational feature that aims to help novice traders to understand and learn about the market.
However, we can’t neglect the fact that $100,000 is a hefty sum and isn’t something anyone can reach. The broker’s offer does actually seem decent enough, but the presentation isn’t up to par. We’ll see if the broker’s functional prowess ends up improving what we think. It has likely happened to many others, and it its important to learn from these experiences. Do not forget that even the most cautious investors can fall victim to online fraud. The company is located at Beachmont Business Centre, Suite 39, Kingstown, Saint Vincent and the Grenadines.
Fraud Recovery , Forex fraud recovery and Crypto Scams recovery are possible. The promotion is applicable for deposit amounts ranging from $500 to $5,000. The insurance covers upto 100% of total loss on all trades opened on the deposit day. The dropdown menus have vague names, and as such, the categories inside them seem almost arbitrary.