Lexatrade Review: Is Lexa Trade a Scam Broker?

To prevent falling victim to scams in the future, always ensure that you deal with legitimate companies that are fully regulated by major regulators, such as the FCA, like ForTrade. Unfortunately, LexaTrade is not a trustworthy company to deal with, as they are not registered or regulated by any major regulatory authority, such as the Financial Conduct Authority . Through these five straightforward steps, MyChargeBack simplifies the fund recovery process, enabling you to reclaim your money from LexaTrade with minimal inconvenience.

We would like to see some real feedback from traders to even think of trusting Lexa Trade broker. Bonuses and incomes will only be withdrawn when a trader reaches a certain volume of trades. After analyzing the detailed LexaTrade review, we can say the company is totally a scam. LexaTrade customer support is very impressive as it offers full-time support with 24/7 operating hours. The platform allows traders to access all popular commodities worldwide. However, much information regarding the same is unavailable on its website.

• Basing decisions through mere online research may prove fruitless should it not be backed up by actual diagnosis of the broker‘s offers and services.
• Lexatrade has potential, but it also has a lot of things bogging it down and making numerous questionable decisions.
• Learn more about the conditions and seriousness of the broker.
• First and foremost, report the incident to your local authority department.
• In our review of LexaTrade we breakdown the pros and cons.

I have just started, so far I am good with the trading tools. Haven’t had withdrawal yet but based on observation, brokers are skilled and easy to deal with. Lexatrade has potential, but it also has a lot of things bogging it down and making numerous questionable decisions. For starters, the first two accounts are borderline unusable. 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.

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All information should be revised closely by readers and to be judged privately by each person. Therefore, for some people it will always be like a scam. There is even nothing to be surprised at in such comments.

Trading platform works stably, occurs smoothly and quickly. LexaTrade platform provides its users with the technical adviser, Autochartist. Through this tool, traders are offered efficient methods of Technical Analysis to guarantee good trading conditions and even more profitable trading endeavours. Has an intuitive interface with all the access to the inner pages accessible through the fields that can be seen on the top most part of the landing page. It is complete with all descriptions of LexaTrades offers, its website tools, and legal documents ensure safe trading with the broker.

The commission is based on the size of the transaction and ranges from 0.005% to 0.015% for most instruments, while it is 0.5% for cryptocurrencies. LexaTrade Accounts & PricingEach account type comes with its own set of perks, with the higher account https://cryptolisting.org/ types offering the best perks and benefits. We are back with our unbiased review of LexaTrade, an online trading broker company. I was so frustrated and giving up on my money when Mr. Tony Luis came to my rescue and helped me out with the issue.

Video courses and E-books, while the questionnaire section offers all the questions related to customer’s feedback on the platform. This feature provides 100% insurance on the deposit amount. 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.

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The LexaTrade referral program activates when you invite your friend to sign up for the platform. For each successful deposit your friend made, you’ll receive up to 50% of the entire amount. Instead of falling for the LexaTrade scam, we recommend you to start with a more trusted platform like InvestFW. To sum it up, Lexatrade is not regulated in the proper sense of the term, you have no guarantees about anything with this broker.

But at the same time, for people with a head on their shoulders, Lexatrade is quite a working tool. I registered with them by depositing $250USD and play couple of trade and earned $236usd. They tell me rubbish rules which they did not inform at the time of joining. I have uploaded some moeny and post that they have locked my amount and is lexatrade legit i am nither withdraw nor able to trade. They are asking more money to upload to enable my account and not returning the amount that i have already uploaded. The methods for deposit are Visa, CryptoWallet and e-Payouts and we assume the same methods will be used for withdrawals, although LexaTrade doesn’t mention this specifically.

This community is dedicated to calling out fraudulent investment websites and companies that have affected our lives and that of our loved ones. Speaking up is very therapeutic and we could save people from these wolves in the marketplace. So we can talk about Trading platform scams, crypto currency scams, binary options scams and all other corporate scams.

And besides, if you really want to do advanced technical analysis, LexaTrade offers Meta Trader 4 so you can have the best of both worlds. We also compared LexaTrade’s fees with those of two similar brokers we selected, AxiTrader and FXCM. This selection is based on objective factors such as products offered, client profile, fee structure, etc.

I have been trading on the market for 5 years, of which almost 2 years on LexaTrade. If, in general terms, the company works honestly, and I would not find any illegal actions. It is not necessary to wait for some news, and the market is moving unpredictably.

LexaTrade Ratings

Users caught spamming or abusing will be deleted from the site and prohibited from future registration at thatsucks.com and affiliates. We recommend staying within the range of good taste and respectful language to avoid any unpleasantness. I used to trade in crypto, then I moved to the foreign exchange market. They are scamsters hiding in remote offshore islands with no law and order. They encourage you to extract maximum amount from you and then open deals conveniently to bring you down to “ALL RED” and refuse to return a single penny.

The risks involved in using unregulated companies like LexaTrade include the inability to file a complaint with a credible regulatory authority in case of a dispute. 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. In an event of theft, complaints can only be made if that broker is licensed by the regulator in your jurisdiction. There are a lot of brokers out there operating under fake company names or that have other fraudulent operations. A little bit of preliminary research can go a long way in protecting you and your finances.

How Do You Trade With LexaTrade?

However, it’s apparent that it’s much less limiting than even the more lenient country-based regulators. For us, the elephant in the room when visiting lexatrade.com is how clunky the language is there. It seems like the website wasn’t designed in English, but rather translated from another language. We know some brokers like to take that approach, and it usually works moderately well. However, the translation itself is shoddy, so the website ends up looking unprofessional. And stay alert, scammers like lexa trade are present here too, misguiding the public.

Autochartist is a common technical analysis tool among traders, so training videos are easy to find online. Often, you want to visit a website for various reasons, but you are unsure whether to trust the website. You are asking yourself questions such as “is this website legit?

That being said, they are very new at the time of this review, so there is time for improvement. Also keep in mind that the company is regulated , 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. You would be forced to top up to the minimum of $50 before placing a withdrawal request. Also, if clients don’t have a significant trading volume yet, the company intends to charge a commission of 5%. Assuming you deposited $100 and lost 60% of the funds and attempted to withdraw $40, Lexa Trade broker would never process such withdrawal request.

For starters, there’s the fact that the cheapest account doesn’t require a huge deposit. Also, the spreads on the VIP account are relatively tight. The setup itself is tried and true and is one of the most common ways for brokers to structure their accounts.