The asset access is limited, your withdrawal requests are low priority, and the spreads are extremely high. We’re nearly certain the broker made the accounts just to seem more open. However, better options are present online, and it’s easy for most traders to switch. The setup itself is tried and true and is one of the most common ways for brokers to structure their accounts.
According to LexaTrade rezension, it supports four financial markets. Company provides a brief overview of each market and a short list of assets, which clients can trade. LexaTrade wants to make sure their clients are knowledgeable about any trade before they begin. MtT4 platform is considered as the gold-standard for every other trading platform in the trading industry. It was developed by MetaQuotes and launched to the public in 2005.
Platform has an easy-to-navigate interface and has a generous number of trading tools. Through LexaTrade, traders are provided with an MT4 web terminal that permits them to trade safely through its technology without downloading it. A range of account types welcomes traders of all backgrounds and skill levels in LexaTrade.
- Even I, a newcomer to the market and trading, was able to understand everything from the first time.
- In case of problems, be sure, you can count on the prompt and professional help of online consultants.
- Accusations of fraud and scam not only against LexaTrade but also with many brokers.
- On the LexaTrade website you can find a Learning Center.
The account offering is appreciable but lacks at some points. The minimum deposit at LexaTrade is $250m whereas its competitors offer account opening at $0. LexaTrade developed its own proprietary trading platform displaying a high-level of functionality, speed, and profitability. It has an intuitive interface and highly-functioning terminals to make trading comfortable with minimal risks.
LexaTrade Review: Fees, Commission & Spreads
So the regulation may impose negligible limits on the broker while generating a false sense of confidence for potential customers. Perhaps we’re being too harsh since if you know what you’re looking for, you’ll find it. However, for a newer trader, the website may look too daunting. We wouldn’t be surprised if entry-level traders couldn’t find their way around and simply decided to use another brokerage.
Two Weeks before I also Lost Money
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.
It is possible that LexaTrade had been misunderstood and misrepresented in new media. Given the nature of these sites, LexaTrade broker reviews and comments lodged through Social Media range from the uninformed to mere bias. Given platforms are simply a free-for-all, just about anyone, regardless of education and inclination, can post whatever their ill-conceived experiences allow them to. That is why, if you only choose the Forex broker, make your decision based only on verified official information. Registration in offshore zones for some traders is a red flag. But then, it must be noted that the success of trades is not necessarily reliant on the type of broker that a trader enlists but on strategies that they employ.
Fund and Account Security
In case of problems, be sure, you can count on the prompt and professional help of online consultants. There are no payment fees charged, only standard service charges apply. However, it is worth noting that in case of inactivity of users for more than 90 days, 5% of the balance value is charged.
ACCOUNTS OFFERED BY LEXATRADE
The MT4 performs as a classic choice in trading currencies and CFDs because of its user-friendly interface, speed of execution, and high-grade terminal work. LexaTrade’s offering of the MT4 comes in a web version and it is compatible with any browser. Platform includes a customization feature that comes with listing charts and shifting time ranges. lexatrade reviews LexaTrade forex broker will give you a 70% welcome bonus and medium priority for withdrawals if you choose a gold account. There is no fee to open an account and the fees for deposits and withdrawals are not specified anywhere on the website. There is no mention of an inactivity fee but we cannot guarantee that you won’t be charged one.
As such, we don’t think you can get a competitive trading service up until the $10,000 account at least. Again, as we said earlier in our Lexatrade review, the broker doesn’t do anything that sets off alarms. Many investors may be concerned that LexaTrade is registered in the country of Saint Vincent and the Grenadines. This place is considered a tax haven, due to weak legal regulations.
Lastly, reduced spreads can be accessed using this account. As we are wrapping this in-depth LexaTrade review, the only thing I would say is to avoid this platform. The broker is unregulated and has a lot of disadvantages which overshadows its genuine features, such as high spread charges.
As you progress through the accounts, the bonus we mentioned earlier in our Lexatrade review grows. With the VIP account, it sits at 120% of your deposit. Similar bonuses often have thick strings attached, so be sure to read the terms if you intend to invest. The first LexaTrade review https://cryptolisting.org/ is found on TrustPilot’s page and the other one is written on LexaTrade’s Facebook page. Both statements did not detail Urbanek’s issues with the broker, and only proceeded to create false statements about it. These statements have no legitimate grounds and are clearly libelous.