LexaTrade Review: Legit or Scam? Coinranking
The broker is headquartered in Saint Vincent and the Grenadines, a popular domicile to offshore brokers (since most brokers based in Saint Vincent and the Grenadines are unregulated brokers). Its first year of operation revolved around managing cash transactions in real-time trading using PAMM accounts. It then enhanced its offered trading solutions and its trading assets and instruments in the following years and groomed itself https://cryptolisting.org/ to become an emerging online brokerage brand. In this light, it can be said that LexaTrade is a legitimate business entity and is a regulated broker. Yet, questions remain whether this regulatory affiliation is strong enough to set aside fears of losing trading funds of clients in the event of insolvency. Fortunately, IFMRRC features a Compensation Fund scheme to be observed by all its 49 regulated brokers including LexaTrade.
XCritical is lesser known to traders than MT4, but this does not make it inferior in providing quality services. Also, a mobile platform is far more accessible and convenient than any other platform, which means traders can trade anytime and anywhere without the lexatrade login hassle. Aside from trading, clients can open positions, manage their account, and execute trades without delay. They can also set stop loss and take profit, track the movement of quotes, check forecasts for different instruments, and view their account balance.
It contains no legitimate grounds or even constructive criticism about brokers. It plainly claims that this broker is something else without any proof. Baseless accusations like these are examples of libelous claims executed by competitors to smear another broker’s reputation. Daily Market News are financial reports that thoroughly assess the impact of global events on the financial markets. It provides explanations to forex movements, IPO announcements, currency forecasts.
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. The website is translated in 6 languages, the platform is relatively easy to use and offers all the features needed by an average trader.
- That being said, caution should be used anytime money is involved, with all brokers, old or new.
- Commodities being long-term investments means that they must be carefully decided.
- Every broker has received negative feedback from customers, critics, and even the general trading industry was accused of cheating.
- These lessons will give you the basic skills which can be developed by practicing regularly.
- Baseless accusations like these are examples of libelous claims executed by competitors to smear another broker’s reputation.
There is also a certain affiliate program on the site, which helps customers to bring new users, promising them a bonus in return. But of course, with the online reviews altogether polarizing, how does one filter the truth from fabrication? As I could have told early, this is how forex trading would have never gone….
One of the most popular bonuses it offers is the Refer a Friend program. When an existing client successfully gets another trader to sign up to LexaTrade, clients are awarded up to 50% of the deposited amount of the new client. Any existing trader can sign up to participate in the program and receive incredible bonuses. Just like any broker, LexaTrade flaunts a set of advantages to fish investors in the sea of online financial investment.
LexaTrade’s live chat through its trading platform is complemented with other social media platforms, including Skype and email, as additional means of communication. This enables safe trading using modern technologies and does not require downloading and installing platform software. MT4 Terminal is compatible with any desktop computer and operating system. It has listing charts for changing time ranges and combines many commercial operations. Browsing broker’s official site, Lexatarde asserted the legality of its business operation and its regulatory compliance with the International Financial Market Relations Regulation Center (IFMRRC).
Web Platform
These materials gear towards beginning traders who are still in the process of acquiring decent knowledge about trading. On the other hand, reviewers and questionnaires are designed for beginners and professionals to refresh their acquired knowledge and ensure that they don’t forget anything. All materials are available after registration, so you can ensure that reviews like “LexaTrade courses scam” are not true.
Silver Account
It ensures clients’ protection from cyber theft and market risks because they are very common in trading. Clients have also praised its safety and convenience, among all other qualities. LexaTrade has certainly made it big in the trading industry, so let’s find out what makes it a cut above the rest.
LexaTrade Web Platform
They vary in features but are all promoting convenient and secure trading. Forex Broker attracted me precisely with this – in all reviews about LexaTrade, it is distinguished by the reliability and honesty of the company. Of course, there are questions, but everything is successfully resolved after correspondence with tech support. LexaTrade’s MT4 web terminal is a highly secure and reliable trading platform, incorporating advanced technology and offering a seamless trading experience.
Overall this is a promising broker but a few tweaks here and there would make it a better one. Lower deposits, more information about deposits and withdrawals, a basic FAQ, and a demo account are just a few adjustments that would go a long way and would make LexaTrade a higher-tier broker. That being said, they are very new at the time of this review, so there is time for improvement.
Along with the broker’s regulatory background, this broker review will also rundown key advantages and features of LexaTrade. Additionally, it will provide LexaTrade reviews from LexaTrade clients to help you picture out the broker’s overall service. A range of account types welcomes traders of all backgrounds and skill levels in LexaTrade.
This is to provide the necessary time for necessary transaction procedures. Lexatrade ensures high-grade security measures for all the services it provides, to secure client’s funds. You can also access one trading technique provided by the broker and trading in commodity markets.
Is LexaTrade a regulated authority?
Some negative reviews exist, but they are likely to be ordered by competitors because there aren’t any photos. Most likely, these reviews were written by the company’s competitors. LexaTrade review on the site ends with a section with links to the company’s documentation.
Here are several LexaTrade customer reviews we managed to find on a number of trading forums. The Web platform displays 170 trading instruments, charts, and order management tools to monitor trading positions and technical adviser Autochartist effectively. This regulatory body is one of the most trusted in the world, meaning earning a regulatory status from an organization guarantees the safety and reliability of a broker.
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