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. We are back with our unbiased review of LexaTrade, an online trading broker company. “If, in general terms, the company works honestly, and I would not say that there are some illegal actions. Lexatrade reviews Nowadays, it is second nature to an investor to choose an officially regulated broker with a decent regulatory history.
- Yes, the broker offers trading services across the globe with a focus on countries like India, South Africa and most of Asian countries.
- The platform offers a long list of trading instruments, is regulated and most importantly, is not a scam.
- Perhaps we’re being too harsh since if you know what you’re looking for, you’ll find it.
- Fill out the application form with your personal information, including your name, mobile number, email address, and a secure password.
- The information on Forex-mag.com does not serve as an investment or trading recommendation.
While the platform offers a considerable service, we still advise to choose among legit brokers like InvestFw. The broker offers its traders two platforms, as we’ve indicated earlier in our Lexatrade review. And even then, you only get the web version, and you need the $50,000 account for the full unlock. 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.
HOW TO OPEN AN ACCOUNT ON LEXATRADE?
LexaTrade ensures that all client funds are kept in a segregated account from the company’s funds. The promotion is applicable for deposit amounts ranging from $500 to $5,000. The insurance covers upto 100% of total loss on all trades opened on the deposit day. We are here to conduct a comprehensive evaluation of LexaTrade’s offers and services for the most
in-depth and unbiased verdict. Thus, LexaTrade guides investors before they start investing through their educational resources. Fill out the application form with your personal information, including your name, mobile number, email address, and a secure password.
- Of course, broker appearance is nearly entirely irrelevant, but our point is that Lexatrade looks like something hastily put together.
- One more significant concern is that the broker locks the MT4 platform behind the more expensive account types.
- There is no mention of an inactivity fee but we cannot guarantee that you won’t be charged one.
- The deposits are processed instantly, while withdrawal may take up to 3-5 business days.
- However, it does enable people to trade the international markets from any device with an active internet connection.
Rather than opting LexaTrade scam, we recommend you to incline towards a more trusted platform like InvestFW. Investing in indices such as NAS100, EUR50, JPN225, and USA30 provides several advantages to traders who are interested in index trading. Investing in commodities can be a great way to diversify your portfolio and achieve long-term https://cryptolisting.org/blog/practical-capacity-accountingtools 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. With their 24-hour client service team, you can get the support you need whenever you need it. Unfortunately, when a broker looks like it’s a rushed project, it’s often a scam.
How To Trade On LexaTrade?
Similar bonuses often have thick strings attached, so be sure to read the terms if you intend to invest. Cheapest and most expensive aren’t the most precise terms, as there’s no actual cost attached to the account. However, we can’t neglect the fact that $100,000 is a hefty sum and isn’t something anyone can reach.
How Do You Trade With LexaTrade?
And without the broker specifying the times, who knows how long it might take for you to get your money. Lexatrade has five different account types covering budget and high-end options. The broker uses a tiered account progression where each type requires you to reach a specific threshold. There are also other newbie-baiting features, such as the bonus that Lexatrade offers. A deposit match isn’t inherently a bad thing, but it’s commonly used by malicious brokerages. The website is translated in 6 languages, the platform is relatively easy to use and offers all the features needed by an average trader.
Customer Support
However, it does enable people to trade the international markets from any device with an active internet connection. Charting is also adequate and a lot of trading tools are available right on the homepage itself. Simply put, clients do not have to visit any other website and switch tabs to get the latest updates. Integration of news is a great thing and for people that trade during news events, this is going to be a huge deal. Unfortunately, things like investor compensation funds and segregated bank accounts are not present. If this doesn’t work, traders can raise a complaint to IFMRRC, the regulatory watchdog of LexaTrade.
That means the accounts suit most strategies, and as such, can attract diverse groups of traders. On the other hand, the Web platform offered for the minimum account is quite enough for the average trader, so maybe that’s not a deal breaker. 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. That being said, caution should be used anytime money is involved, with all brokers, old or new.
The broker also provides different trading assets for higher liquidity with high leverage and low spreads. XCritical mobile app offers an easy-to-use interface, traders can access their trading account on the go, without any hassle. They can open positions, execute trades quickly, and monitor their account balance from anywhere, at any time. Whether a beginner or an experienced trader, the XCritical mobile app is a great way to enhance your trading experience.