LexaTrade Review: Key Insights, Platform Performance & Is It Right for You?

We’re nearly certain the broker made the accounts just to seem more open. And without the broker specifying the times, who knows how long it might take for you to get your money. A trader, before investing, should research about the broker’s regulation and license. If the broker doesn’t hold any license, then there must be a risk of scam.

Good broker company

MT4 is one the world’s most famous and reliable trading platforms for Forex. The user-friendly UI of the platform helps both beginner and professional alike. The broker also provides different trading assets for higher liquidity with high leverage and low spreads. Live chat support was available at the time of our visit but a bit slow to answer. The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client. LexaTrade is a newly launched, regulated broker that offers CFD trading on currencies, cryptocurrencies, indices, and commodities.

• And if you’re unfamiliar with what IFMRRC is, we don’t blame you.
• Lexatrade has gotten all my hard earn money stucked and refused to allow me make a withdrawal of my assets, I met a review on how csp_jaun (at) proton.
• If there’s a WhatsApp or Telegram group involved (though not all scams include this), it’s filled with people pretending to be winners—they are all part of the scam.
• From abuse of power by tech giants, to fake reviews, scams and rip-offs like being caught in a subscription trap – consumers deserve better.
• That’s especially true if the bonus goes as high as it does at lexatrade.com.
• I did not notice any problems with this broker, with the exception of sales managers.

Also keep in mind that the company is regulated (IFMRRC), which is not the fiercest of financial watchdogs, but any type of regulation is better than no regulation at all. It offers a diverse range of payment options ranging from bank wire transfers to credit/debit cards, from Skrill to Neteller. LexaTrade has gained recognition as a reputable multi-asset broker by providing quality services and financial instruments to its clients. Lexatrade has potential, but it also has a lot of things bogging it down and making numerous questionable decisions. The asset access is limited, your withdrawal requests are low priority, and the spreads are extremely high.

Lexatrade Review Is it good, or is it a scam?

• The broker’s low user ratings of 2.1, which shows the platform’s low credibility.
• We are back with our unbiased review of LexaTrade, an online trading broker company.
• The dropdown menus have vague names, and as such, the categories inside them seem almost arbitrary.
• Hope the above information is enough to know the basics of LexaTarde, account types, its services, fees and referral program.
• The platforms are designed to be accessible, intuitive, and feature-rich.
• This does seem like a friendly broker, but I am not sure it’s the best choice for a total beginner, simply because the lowest deposit to open an account is $250.

But there’s also the fact that while it’s better than nothing, it’s not a significant improvement. So the regulation may impose negligible limits on the broker while generating a false sense of confidence for potential customers. IFMRRC stands for International Financial Market Relations Regulation Center. Scammers employ persuasive tactics to convince you to make an initial minimum deposit.

Start

This is an area where caution is advised, as regulatory oversight is a critical part of ensuring the safety of your funds. This broker offers a balanced mix of functionality and user-friendliness. 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. At first glance, LexaTrade appears to be an attractive option for both novice and seasoned cryptocurrency traders. The platform promotes itself as a simple, user-friendly way to trade popular cryptocurrencies like Bitcoin, Ethereum, and more.

Is this your company?

The appeal of earning substantial profits with little risk can be enticing, especially for those new to the complexities of cryptocurrency markets. In reality, cryptocurrency markets are highly volatile and unpredictable, and no legitimate platform can guarantee returns. Lexatrade.com has a rating of 2.7 stars from 30 reviews, indicating that most customers are generally dissatisfied with their purchases.

Organization and company which provides financial services need to obey various policies and get approval from regulators in every jurisdiction. Lexatrade claims to prioritize the safety of its client’s funds. But we are skeptical about most activities and claim made by LexaTrade.

It’s a lexatrade review non-commercial organization that regulates about 60 brokerages. However, it’s apparent that it’s much less limiting than even the more lenient country-based regulators. Unfortunately, when a broker looks like it’s a rushed project, it’s often a scam.