LexaTrade Review * Is LexaTrade A Scam?

With all of its excellent features, this broker has the potential to become one of your preferred trading destinations. LexaTrade offers a free trial account that allows customers to practice trading without risking any money. It’s a fantastic chance for novice traders who wish to understand the fundamentals of trading. You will become skilled in trading successfully without making losses.

If you are trading with any broker that has a license from either CySEC och FCA then you can rest assured you are trading on fair terms. These types of accounts are offered by brokers to give you the option of testing the broker before signing up and depositing your own money. Moreover, demo accounts are great ways to practice and try new strategies.

In that Clause 32.4 of their T&C’s they declare disputes will be promptly and fairly handled. They then direct you to lodge a complaint the Australian Financial Ombudsman and provide the contact details. Sounds reasonable however we simply want to withdraw our money and now need to achieve that through the Australian Financial Ombudsman.

LexaTrade scam

All communication with clients takes place in writing either through email, online chat or WhatsApp which are available on a 24/7 at LexaTrade.com/Help/ContactUs. However, there are some things which I consider to be quite nasty. If you do not notice that, you might suddenly find your position closed. Established in 2004, Aussie Stock Forums is an online community with a focus on the Australian stock market and all aspects of trading and investing.

Opinions And Experiences

That being said, LexaTrade is not available for traders in the United States, although the company is constantly working on expanding its geographical reach. There is, in other words, no reason not to trust LexaTrade and their intentions.

LexaTrade scam

More details including leverage, margin requirements, and stop order choices are shown in this box. LexaTrade’s WebTrader is an independent, proprietary platform developed for the exclusive use of their clients. It can’t be integrated with the popular MetaTrader 4 or MetaTrader 5 platforms. The minimum deposit varies according to the payment method and country of residence. LexaTrade is a “No Deposit fees/Commissions” broker that receives its compensation primarily through the market bid/ask spread.

Markets And Products

LexaTrade gladly assist traders in various ways and truly relevant answers, with reliable and quick guidelines or help you should request, which is fantastic and important for you as a client. lexatrade cheating Also considering a grate range of languages they support and availability 24/7 with live chat rewards them even more, as this level of support is quite rare among other brokers.

This is certainly an area where LexaTrade has a lot of catching up to do. At LexaTrade there are no transaction fees, neither for deposits nor for withdrawals. In order to be able to withdraw money, traders need to be verified and sent different documents (e.g. copy of identity card) back to the broker.

It rendered Cyprus, the former regulatory destination for broker seeking the respected framework of the Cyprus Securities and Exchange Commission , uncompetitive. A growing number of brokers are voluntarily renouncing their CySEC licenses to relocate to a business-friendly authority, with ASIC a prime benefactor. A huge accomplishment for this company is that it is a FTSE 250 listed brokerage, which brings with it the respect and prestige that many smaller brokers have not earned. Excellent app to learn trading, interface is clear and easy to the user.

A trading software is simple to use and understand, while everything happens right through the website. Once you login, you’ll see a clean and understandable interface with watchlist and full control over your account, with search, Portfolio settings and Fee reports along with statistics. There are several versions suitable for any device generally maintained by the LexaTrade WebTrader platform is a desktop based platform via a web browser. This means you don’t have to download or install specific software onto a PC, you just need an internet connection.

LexaTrade scam

Opening several accounts is clearly against the T&Cs and a very good reason to terminate all accounts you opened trying to receive bonus money. Knowing the risk with this company, I traded exclusively with the bonus funds they offer. They perfect until you start making money then the Change the graphs increase the spreads and start hitting your stop losses every time.

What Trading Platforms Does LexaTrade Offer?

The FBI should be on them by now as I know for a fact that they have swindled hundreds of naive victims. It’s been great trading on this platform and i also want to appreciate the effort of my trade advisor ‘Miller’ for his immense support. I’ve been trading for 3 months now and have grown my account from 1000£ to 5200£.

LexaTrade scam

They are also listed themselves on the London Stock Exchange, which underscores that it’s a reliable company. The platform is great for beginners without any trading experience. The app is also good for use when you are on the go. The mobile app for Apple phones is super easy and fast. The design is good and the mobile verification of my passport was quite fast. It is not ‘free money’, you cannot take that bonus out yet. You have to get traders points which you get by making trades.

Trading Platforms

Along with 50+ currency pairs , you can also speculate on the rise / fall in the prices of the most popular stocks and commodities like gold, silver or oil. The interface is dumbed down to cover up the ways in which they take your money. Do your research & go with a reputable platform that has a proper local footprint. Therefore, trading with LexaTrade you should perform your own research before making trading decisions, which is more suitable for experienced traders. In case you are very beginner maybe it is best to consider other brokers or to find a good educational course in order to become successful in what you do. Research also very helpful with educational and research purposes as allowing you to be a better trader and stay aware of market conditions. However, there is no fundamental analysis or trading ideas also news are rather general, also with no social trading functions.

LexaTrade scam

This LexaTrade trader is trusted by traders from all walks of life. This is owed to the fact that its trading platform is highly intuitive and is, therefore, can be easily navigated through. While this stands, it must lexatrade courses scam be noted that the research for it proves lacking, and it’s trading and educational tools leaves a lot to be desired. A deeper understanding of CFD trading is imperative should one choose to trade with LexaTrade.

I Use The Mobile App And I Can Say That

However, if you made a deposit in a different currency to that which account is denominated in, the company may pass on commissions for conversion. Means, in case your account remains inactive with no trades for the period of three months the fee of up to $10 is charged. This takes place in order to secure service availability and adapted to real accounts only, which is easily avoided by the minimum activity even. According to the particular jurisdiction of the LexaTrade you will be asked to provide the documentation to prove your identity or some additional information. Once done, you will then be able to transfer money to your live account and start trading instantly.

LexaTrade scam

You can see the information regarding the spread and a future contract in the “Details” link next to the instrument’s name on the far right hand side in the main screen of the platform. We are thankful that you have taken the time to appreciate us and provide your feedback.

  • The platform is also supporting 32 different languages, so chances are high that Plus 500 is available in your native language.
  • I started with CFDs and I have been very lucky, thanks to this sub.
  • Indices refer to a collection of stocks and assets used to monitor the development or advancement of a company or industry.
  • The FAQ section may be quite comprehensive but contacting an employee directly is only possible via mail.
  • The first app ever launched by LexaTrade was an iOS app for iPhone and iPad.
  • I’m still active with LexaTrade and can only say good things.

So when trading with Plus 500 you have to check not only the position itself you also have to keep an eye on the time you are holding your position. So let’s say you hold your trade for 1 and half minutes it might be better to wait even when the course moves against you.

As you can well understand, if a trader ventures into trading at random, he could “get burned”. There are some traders who confuse the fact that they can lose with the fact that they are dealing with a scam. You may, however, be able to increase or reduce your LexaTrade trading account leverage. To do so, day trading you would need to send a quick email to their support. This site is great I did the validation and got my bonus in AED as i redside in UAE and I did some profits and since i am a beginer i lost all my bonus now. Hope they give me another chance without deposit as i am not in position to invest now.

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