LexaTrade Review: Avoid This Scam Forex Broker

Despite all reviews, it is strongly recommended to make decisions and build a strategy independently. At first, I liked that the broker has a wide choice of accounts and has educational material. Support desk doesn’t answer for a long time, and no one’s gonna pay me back. Given the nature of these sites, LexaTrade broker reviews and comments lodged through Social Media range from the uninformed to mere bias.

COMMODITIES

Below are the most salient benefits LexaTrade offers to its users. Despite limited information available on the LexaTrade website, other Lexatrade broker reviews will tell you that the broker is under the Maxi Markets group. However, LexaTrade https://turbo-tax.org/ forex broker’s official site claims that the brand is owned and operated by Swissone Group Ltd. The charges are higher compared to the platform we have reviewed so far. The spreads vary on the account type and the  instrument traders trade in.

Real Client Reviews on LexaTrade Forex Broker

The broker doesn’t hide the fact that it’s trying to goad you into depositing more. And without the broker specifying the times, who knows how long it might take for you to get your money. We aren’t the biggest fan of the huge jumps between the sums you need for different account types. Trading accounts offered by LexaTrade are categorized into different types of traders. They were set specifically for catering to beginners, intermediate, professional, advanced, and expert traders. According to LexaTrade official site, the broker provides up to five account types.

How can i recover my money from lexatrade?

I have been working with LexaTrade broker for six months now. I learned about the company much earlier, but I came across a network about the negative about it. In comments on one forum, I read the information that «LexaTrade courses scam,» fraud, etc. Then he learned lexatrade scam from a friend working with this company that all this is complete nonsense. As a result, I opened an account there, on which I have been trading for six months. LexaTrade’s provision of these platforms allows for good options for transacting their trades.

What is Lexatrade Company?

However, it is crucial to note that not all client reviews came from the real clients of the broker. This time, we will feature some of the feedback and reviews of current LexaTrade clients to give us some first-hand experiences with the broker and how they feel toward their service provider. Looking at reviews about LexaTrade on various websites shows that the broker is actually trusted and respected by its clients.

But most importantly, these benefits are immediately laid out for new clients. The broker offers its traders two platforms, as we’ve indicated earlier in our Lexatrade review. The website is translated in 6 languages, the platform is relatively easy to use and offers all the features needed by an average trader. A mobile platform is available but Demo accounts are not; US traders are not accepted. However, it garnered popularity among traders with its one-of-a-kind features and the services.

Even without LexaTrade’s proprietary platform, MT4 and xCritical platforms are enough to render good trading conditions to create strong investment portfolios. Here you can train as a beginner and sharpen your strategies if you are an experienced Forex trader. It is essential to exercise caution and conduct deep research before engaging with any online trading platform, including LexaTrade. Investing in commodities can be a great way to diversify your portfolio and achieve long-term gains. It’s important to carefully consider options before making any investments, and LexaTrade is a trusted broker that can help you navigate this process.

1. We will feature some feedback and LexaTrade broker reviews of current clients to give us some first-hand experiences with the broker and how they feel toward their service provider.
2. The strongest suit of LexaTrade is its quality services, which were noted multiple times by traders in LexaTrade broker reviews.
3. On the other hand, the Web platform offered for the minimum account is quite enough lexatrade for the average trader, so maybe that’s not a deal breaker.
4. As we said earlier in our Lexatrade review, it offers a competitive trading experience, but it gets overshadowed by better companies.

The account offering is appreciable but lacks at some points. The minimum deposit at LexaTrade is $250m whereas its competitors offer account opening at $0. Besides, LexaTrade’s Web platform offers all the tools that can turn a skilled trader into a profitable trader. The support team is problem-solving and responds quickly, so the overall communication with the team was great. MT4 is one the world’s most famous and reliable trading platforms for Forex.

LexaTrade’s offering of the MT4 comes in a web version and it is compatible with any browser. Platform includes a customization feature that comes with listing charts and shifting time ranges. For starters, LexaTrade has a “Refer a Friend” program, which allows an existing client to benefit from sharing the services of LexaTrade to friends and fellow traders.

More so, the broker is a legit broker as it is duly regulated. Gaining more traders, LexaTrade expanded its services to different jurisdictions across continents. In 2019, LexaTrade amassed more than 2 million merchants worldwide. On its way to mainstream brokerage service, LexaTrade is starting to be a force to reckon with in terms of trading solutions. Holding its business operations in Saint Vincent and the Grenadines, many traders doubt the legitimacy of the broker, let alone Lexatrade’s regulatory credential. This is because there are many traders online claiming to have been scammed by LexaTrade.

It operates under the Swissone Group Ltd., which is based within St. Vincent and the Grenadines. The financial work of the broker complies with the requirements of FMRRC (Financial Market Relations Regulation Center). We use dedicated people and clever technology to safeguard our platform. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active.

Clients were not even all praises in the entirety of broker’s services, leaving some room for improvement and giving us a clear indication that LexaTrade also has its shares of flaws and setbacks. However, these shortcomings are way different from allegations of fraudulent acts and schemes. Apparently, the pair of customer reviews clearly reflects the broker’s honest and quality trading services, contrary to some maligning customer reviews that try to dent the broker’s reputation. These clients are enough proof that ‘LexaTrade scammers’ is merely a baseless claim.

LexaTrade has proven that it belongs on the list of top forex brokers in the trading industry and meets users expectations. It displays high functionality, great customer service, convenience, availability, and dedication to clients. It improves its services based on what its clients ask for to work on the market, and this has earned the trust of traders everywhere.

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. Many regulated brokers allow $50 and even $10 as minimum deposits, so maybe you should pick one of those. On the other hand, if you are confident in your abilities and $250 is not a lot for you, then LexaTrade may be a good choice. Several red flags surround LexaTrade, fueling suspicions about its legitimacy.

The company charges a service charge of 5% if users make less than 5 independent transactions. The deposits are processed instantly, while withdrawal may take up to 3-5 business days. The default proprietary platform is good enough, with an intuitive interface and a solid set of analytical features.

LexaTrade learning is an interactive educational feature that aims to help novice traders to understand and learn about the market. 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.