LexaTrade Review ++ Scam Or Not?

My trading style is swing trading on the daily chart, which is definitely doable with these spreads – but then you run into their swap rates. Even pairs where taking a long would result in you being paid quite decently on the swap by another broker, you are almost always paying LexaTrade. It is therefore difficult to recommend them on the basis of their trading environment, unless minimizing uncertainty and having a safety net are your main priorities. On our platform, we provide fixed spreads which never change regardless the market volatility and you always know the spread you are paying before opening a deal. Likewise, the guaranteed stop loss that we offer on our web platform helps you control your risk on every trade so you never lose more capital than willing to risk. All providers have a large percentage of retail investor accounts that lose money when trading CFDs with their company.

LexaTrade reviews

Easy Forex Trading Ltd is authorized and regulated by the Cyprus Securities & Exchange Commission (License Number 079/07). The MiFID Directive provides a passport, which allows the entity to operate throughout the European Union. By 2015, the company officially offered over 300 markets in a variety of asset classes. In 2013, the broker launched a full mobile site for all tablets and smartphones. Before you consider trading cryptocurrencies, you may want to learn about how cryptocurrencies are mined and what experts think about them from our general guides. Find out more about precious metals from our expert guides on price, use cases, as well as how and where you can trade them. Commodity exchanges are formally recognized and regulated markeplaces where contracts are sold to traders.

Trading Instruments

Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. It shall not be intended as operational advice for investments, nor as an invitation to public savings raising.

LexaTrade reviews

The Getting Started section is an archive of videos on the fundamentals of trading as well as an introduction to easyMarket’s features and tools. Overall, the range and depth of assets available to trade are limited compared to other similar brokers, but LexaTrade excels in its Forex offering. Freeze Rate – another unique tool, Freeze Rate allows you to freeze a price you see for a few seconds. For traders who wish to trade lexatrade forex brokers reviews from a browser, LexaTrade’ web-based platform is offered. Sophisticated trading technologies such as One Click Trading, Pre-installed Indicators, and analysis tools. We advise you to read LexaTrade’ risk disclosure, customer agreement, and terms of business before you start trading. In order to ensure a smooth withdrawal process, be sure to keep your personal information, as provided to you on the broker’s website.

You can decide for yourself if LexaTrade is a good broker for you or not by reviewing the criteria. In general, LexaTrade provides trading service in Forex , Gold & silver , CFD , Oil , Stocks and Cryptocurrencies . The customer support is available via Callback, Email, Forum, Live chat, Office, Phone, Skype and Web form.

LexaTrade Support

Various types of trading like scalping, hedging, algo-trading, and the use of VPS are also all permitted, though the broker does not provide their own VPS. When opening a trading account with LexaTrade, you will need to sign up here. You can find detailed guidance on LexaTrade trading platforms here. You will need to provide some basic documentation to prove your identity as part of LexaTrade onboarding and normal KYC identity checks. These checks are standard practice and help LexaTrade provide a safe financial environment for their 142,500 users. You can enjoy our Raw Pricing trading environment without a Dealing Desk from anywhere in the world.

LexaTrade reviews

Response time can vary depending on the difference in time zones. Other research tools include Trade Ideas, Expert Analysis, Sentiment Charts, and Economic Calendar. The trade ideas come with trading signals from Trading Central, while expert analysis is found on the blog.

LexaTrade Shares Spreads

You must always review deposit fees as some brokers may charge a fee when you deposit funds from your payment method to your trading account. This is because the payment method which you use to fund your account may accrue a fee.

  • Leverage will amplify any movements within currency markets which are generally modest.
  • Not only that, but also any costs you may find when you are trading with LexaTrade so you are clear before getting started.
  • CySEC requires that brokers keep client funds in segregated accounts, that brokers provide negative balance protection, and that brokers issue monthly statements to the regulatory authority.
  • Specialising in Forex but also offering stocks and tight spreads on CFDs and Spread betting across a huge range of markets.
  • In 2013, the broker launched a full mobile site for all tablets and smartphones.
  • The LexaTrade trading platform is known for its innovative features, including its proprietary dealCancellation tool, and its emphasis on transparent pricing.

The registration number is HE203997, and the license number is 079/07, which was granted on May 29th 2007. In September 2020, the brokerage received FSA license in the Seychilles which allows LexaTrade to provide a wider range of services to traders outside of the EU. Many of our clients who have been cheated note that when they asked for information, the broker was evasive. If LexaTrade asks for fees for withdrawals, deposit, and leaving an account inactive, check that these fees are in line with the industry. If LexaTrade asks for a withdrawal tax, this is a sure sign of fraud. A few years ago, a high-profile currency trading broker disappeared with $1 billion of client funds.

Opening A Trading Account

These brokers often have more in depth technical analysis and research tools and better risk management features. Brokers offer state of the art online trading platforms, mobile trading apps, financial research tools and educational resources. For a brokerage to maintain these services and earn revenue as a company. Brokers may charge clients various trading fees that you need to be aware of as they may affect your bottom line. When it comes to customer support, three of the four accounts offer a personal account manager. It is advised that a premium account be considered if you want regular customer service to assist with your day-to-day forex trading. As leverage exposes all traders to high risk when forex trading, a ‘guaranteed stop’ at least provides peace of mind in that you will know the maximum you can lose on a trade.

LexaTrade reviews

Over the years, LexaTrade expanded their CFD offerings to include global indices, options, metals, forex, commodities, and cryptocurrencies. Besides lots of currency pair, LexaTrade also offers some instruments you would like to trade on, such as Forex, Gold & silver, CFD, Oil, Stocks and Cryptocurrencies for your best choice. Somehow, remember that different instrument has different trading conditions.

We found the customer support responsive and polite, but unable to answer some of our questions. For example, they could not provide any information on the swap fees of the various instruments. The Free eBooks section is a repository stock market of 10 eBooks available to LexaTrade clients – topics covered include technical analysis, trading psychology, MT4 guides, and vanilla options. If you are more accustomed to learning through reading this is an invaluable resource.

Clients’ funds are segregated and placed safe and secure in top-tier banks and customers will be able to access their funds. The firm offers capital adequacy that maintains sufficient liquid capital that covers all client deposits, potential fluctuations in the company’s currency positions, and outstanding expenses. Client funds are held in lexatrade scammers segregated top tier global bank accounts away from the company funds so that they cannot be used for any other purpose. These funds are only accessible to clients and readily available as and when they need them. All trading accounts have negative balance protection that guarantees a client cannot lose more than their initial investment.

Where Is LexaTrade Based?

Under the menu, there is another “Deposit Funds” option along with a demo/live account toggle and live chat functionality. Once traders download the app, they are welcomed with ready-to-trade demo. See this list of LexaTrade instruments for up-to-date maximum leverage allowances. And that is also presented by the availability on trading vanilla options, which allow you to hedge against volatility and perform long term trading. As for the LexaTrade leverage levels, as always they are depending on the instrument you trade or platform you use and also defined by the regulatory restrictions. Going deeper into LexaTrade technology, the designed Market Explorer gives deep market insight, showing the real-time rates of 200+ instruments available to trade. Means its operation standards enabled within the EU to provide legal service to the EEA zone clients and beyond.

LexaTrade reviews

Not only that, but also any costs you may find when you are trading with LexaTrade so you are clear before getting started. In addition to that, the broker also holds all deposits in segregated accounts so that your funds are completely safe even in the event of bankruptcy or insolvency. Finally, if you are an EU trader, you can further benefit from the ICF fund which provides for an additional amount of up to €20,000 if there is a large scale financial problem.

LexaTrade reviews

The Conversion fee is dependant on your base currency, your recieving currency, your payment provider. Brokers that offer lower minimum deposits are generally geared towards a more mainstream audience that do not require some of the more advanced features and research tools. Try creating two accounts when you are working with LexaTrade. One is the real account, with your real money and the other is your demo account.

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