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They are leveraged derivatives that can be traded on a variety of values. For the opening of a CFD trade, you do not buy directly the underlying asset, scammed by lexatrade but only the contract to that value. This has several advantages because you can act with a high level of leverage and very easily place short trades.
In the event of an exceptionally complex case they may require an upfront fee, as building your case will necessitate initial resources. Otherwise, if successful, MyChargeBack will be compensated by retaining a percentage of the recovered funds from LexaTrade, typically around 20%. Follow our straightforward guide to efficiently reclaim your lost funds from LexaTrade with minimal hassle. I request whoever reading this review to please NOT to invest in Lexatrade. ForexPeaceArmy.com has advertising and affiliate relationships with some of the companies mentioned on this site and may be compensated if readers follow links and sign up.
The spread varies depending on the account type and the financial instrument being traded. Help future customers by talking about customer service, price, delivery, returns & refunds. I have just started, so far I am good with the trading tools.
Lexa Trade is a forex broker with trading platforms of xCritical Mobile App, Metatrader 4 and proprietary Web Trader. LexaTrade began by managing cash transactions in real-time trading using PAMM accounts. Over time, it has grown and developed advanced trading solutions and a variety of financial instruments, becoming a well-known online brokerage brand. LexaTrade is ambiguous about how deposits and withdrawals work, and we can only get come basic information in the refund policy page. The minimum withdrawal amount is 50 USD, and if a client withdraws the money without realizing 5 independent transactions, LexaTrade will charge a 5% fee. The broker offers its traders two platforms, as we’ve indicated earlier in our Lexatrade review.
Lexatrade claims to prioritize the safety of its client’s funds. But we are skeptical about most activities and claim made by LexaTrade. WikiFX Internet and its mobile products are an enterprise information searching tool for global users.
I was so frustrated and giving up on my money when Mr. Tony Luis came to my rescue and helped me out with the issue. I would have been in a big mess if I had not met Mr. Tony Luis ( ) personal email, I wish to recommend Mr. Tony to anyone in recovery of loss. He saves me and I believe he can also save others who have run into loss. Read here the reviews of customers, view the contact information of the webshop & see if they are legit.
Withdrawal & Fees
A demo account is an extremely useful account for people with no trading experience. This way you are risking none of your money and testing out your trading skills in a safe environment. For people who have next to no knowledge of trading we recommend signing up with a LexaTrade and Forex.com demo account fully.
LexaTrade provides access to popular cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and more. This people will lure you to come and invest with them after promising you a huge return of interest but will still held your withdrawal at the end. LexaTrade is an offshore broker registered in Saint Vincent and Grenadines, currently has no any regulations. Unfortunately, when a broker looks like it’s a rushed project, it’s often a scam. That isn’t an exact rule, but it’s something we’ve found to be true more often than not.
And even then, you only get the web version, and you need the $50,000 account for the full unlock. The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client. Thanks to the strong regulations, brokers are not allowed to pay out to unverified customers. Even after the first deposit, the account must be verified urgently.
Sir / madam in this regard I searched the company address of India. Click the following links to hear the behavior of the executive’s in lexa trade. Can anyone suggest another regulatory body where can I put my complain. I am going to file the cyber crime complain against them if they did not refund my money. They encourage you to extract maximum amount from you and then open deals conveniently to bring you down to “ALL RED” and refuse to return a single penny.
LexaTrade Frequently Asked Questions
After you download the MT4 mobile trading platform, you have to select the relevant server, e.g. LexaTrade leverage magnifies both profits and losses when trading. As with most brokers, margin requirements do vary depending on the instruments. LexaTrade also offer mobile apps, for Android and iOS making it easier to keep an eye on and execute your trades while you’re on the move.
- That, along with the multiple phone lines, makes the broker easy to reach.
- Even if the brokerage is regulated, it is best to avoid it if the regulator happens to be outside your jurisdiction.
- LexaTrade is not legitimate and should be avoided at all events.
- Trading FX or CFDs on leverage is high risk and your losses could exceed deposits.
Haven’t had withdrawal yet but based on observation, brokers are skilled and easy to deal with. And that’s without mentioning our hunch that the broker isn’t entirely honest. Altogether, it’s just a middle-of-the-pack broker, and there are a ton of similar companies out there. It doesn’t do anything to stand out, and the vast majority of traders can easily find an option that’s both more comfortable and more powerful.
How do you rate lexatrade.com?
In addition, client funds will be protected in the unlikely event of a bankruptcy or financial dilemma of LexaTrade with the Financial Services Compensation Scheme of up to £ 85,000. Use the Pro account and you pay only 2$ per traded 1 lot in Forex in commission. In the VIP account (from 50.000$) LexaTrade lowers the commissions to 1$. Withdrawals can only be made via wire transfer, which we thought was a big downside.
LexaTrade accepts international traders but not from everyone country in the world. You can see that clearly if you want to register on the homepage. Europe, Africa, Asia, and India lexatrade review are the most growing regions for trading. If you’re more interested in owning the actual underlying asset of the cryptocurrency, you might want to consider crypto mining.
Fortrade is widely regarded as one of the best broker with an excellent standing and favorable trading conditions that cater to both novice and proficient traders. Generally they start their conversation in UK accent English Later in Hindi language to gain the trust of Investors. They use to do wrong trade, use to send misleading signals & when it comes to at loss then they disappeared. Not responding to the calls or not responding to client messages. They had told me that My all invested Amount are insured & Risk Free.
Lexatrade Review: Conclusion
Lexatrade scammers You can use many options for deposit and withdrawal, and they’re all free of charge. We got relevant and fast answers both on the telephone and by email. The live chat agents are also helpful and give relevant answers, however, response time was slower.
Bitcoin is by far the most famous example of cryptocurrency but there are thousands of altcoins that are on the market that have the potential to rise in a similar fashion. Like stock markets if Bitcoin rises, then altcoins follow suit. Forex.com is a renowned United States financial trading brokerage established in 1999. Well in our LexaTrade vs Forex.com side by side comparison we make it easier for you to see what is right for you. As with anything the final decision which broker to trade with should ultimately be based on what and how you going to trade.
Broker Information
As such, we don’t think you can get a competitive trading service up until the $10,000 account at least. As you progress through the accounts, the bonus we mentioned earlier in our https://cryptolisting.org/ grows. Similar bonuses often have thick strings attached, so be sure to read the terms if you intend to invest. Lexatrade is new forex and CFDs brokerage that primarily operates in Europe. It opened just earlier this year and has attracted a good bit of attention as such. In our Lexatrade review, we’ll look at how beneficial it is for customers compared to other options.
However, we can’t neglect the fact that $100,000 is a hefty sum and isn’t something anyone can reach. So there’s the argument that some regulation is better than none, and that does hold up. 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. It’s a non-commercial organization that regulates about 60 brokerages.