However, its regulatory shortcomings, high trading costs, and numerous user complaints make it a questionable choice for anyone prioritizing safety and transparency. Do not start working with a brokerage company until you are sure of its reliability, according to forex review. Keep in mind that fraudsters also improve their skills and can forge any document. It also does not hurt to talk to more experienced traders who have already had a real experience of interacting with the chosen firm. These patterns align with other known scams in the financial sector, where similar methods are used to extract and retain funds from investors without delivering on the advertised services. Unfortunately, the choice of honest brokers focused not on their benefit, but the profit of customers is not so wide.

User-Friendliness 17/20

Live chat support was available at the time of our visit but a bit slow to answer. The minimum deposit is $250 and the available methods are Visa, CryptoWallet and e-Payouts; the processing time is not specified. All we could find is that withdrawal processing takes up to 24 business hours and that a representative will contact the client in order to complete the processing of the withdrawal.

1. The commission is based on the size of the transaction and ranges from 0.005% to 0.015% for most instruments, while it is 0.5% for cryptocurrencies.
2. The overall structure of the accounts at LexaTrade is too expensive in my opinion and putting a $10,000 barrier between the trader and MT4 means that the majority of clients will not use this platform.
3. 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.
4. Keep caution before using any kind of product or service offered by Lexatrade.com.
5. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews.
6. Within a few years of its establishment, LexaTrade expanded its services to different countries around the world.

The methods for deposit are Visa, CryptoWallet and e-Payouts and we assume the same methods will be used for withdrawals, although LexaTrade doesn’t mention this specifically. As Lexatrade.com is detected as a Financial Services website, check for required approval from financial regulators of your jurisdiction. In legitimate platforms, fees are typically clear and transparent from the beginning. LexaTrade’s hidden and restrictive charges are additional indicators of potentially unethical practices.

With the transfer it is difficult, the money goes for a long time. Several red flags surround LexaTrade, fueling suspicions about its legitimacy. A primary concern is the absence of clear regulatory information. Reputable brokers typically operate under the oversight of financial authorities to ensure compliance is lexatrade legit with industry standards and the protection of traders’ interests.

thoughts on “Is LexaTrade a Scam? Honest Review 2023”

Since we are interested in transactions on exchanges, then we will talk about Forex brokers. This does not really influence the trading process, but it would be nice if these issues were solved. The lexatrade.com login page has a whole section related to legal documentation. Organization and company which provides financial services need to obey various policies and get approval from regulators in every jurisdiction. If a trade position is kept open and carried over to the following day, a commission will be charged to the trading account for using the credit. The commission is based on the size of the transaction and ranges from 0.005% to 0.015% for most instruments, while it is 0.5% for cryptocurrencies.

Proprietary Platform:

We have noted that the platforms have all the features required, including tools, signals, charts, etc. Even when individuals reach Lexatrade for this, Their customer executive encourages upgrading the account type to get funds back. Hope the above information is enough to know the basics of LexaTarde, account types, its services, fees and referral program. There is no fee to open an account and the fees for deposits and withdrawals are not specified anywhere on the website. There is no mention of an inactivity fee but we cannot guarantee that you won’t be charged one.

1. LexaTrade is a reliable broker that provides exceptional speed, functionality, and profitability.
2. We have read each section and can confirm that everything is filled in properly, and the conditions are not fake.
3. In general, the older the website the more trustworthy it becomes.
4. Even when individuals reach Lexatrade for this, Their customer executive encourages upgrading the account type to get funds back.
5. The lexatrade.com login page has a whole section related to legal documentation.

LexaTrade’s unregulated status raises doubts about its commitment to transparency and accountability. We provide broker reviews and ratings to help users find a suitable broker according to their own needs. However, you must do your own due diligence and make your own decisions when choosing a broker. This compensation should not be seen as an endorsement or recommendation, nor shall it bias our broker reviews. Any rates, terms, products and services on third-party websites are subject to change without notice.

However, there is too much information about brokers to make the right assessment and choice. You can also stumble upon information about why Forex is a scam, which is mostly coming from individuals who either did not take trading seriously or chose a dishonest broker. If you are a beginner investor and decide to open your first account on the exchange, for a successful start, you need to find a stable and reliable investment broker. You need a partner who will help you navigate the flow of information, understand how the market works and what points to pay special attention to.

Being alert is advised when dealing with Lexatrade.com as it may pose security concerns. The safety score is based on various factors such as past security records, domain inspection, technical and server analysis. 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.

The spreads vary on the account type and the  instrument traders trade in. Moving forward with this LexaTrade review, we will further discuss the platform’s fees, platforms and account types. If you’ve been following our Lexatrade review, you’ve likely noticed that the broker takes a step forward and a step back.