LexaTrade Review Is A Scam Or Legit Forex Broker

The guy there doesn’t know much, plus their policy on not helping people over the chat is also terrible. Typical response you get is- send email to and they will be able to help you. Even when you are asking about very basic stuff, like informations about their products. And when you send email, you will wait 3-4 days for response. In my case their response to my email with very specific basic questions about their product was can I contact you on Monday on the phone to discuss your specific needs? I didn’t respond to that email, but nobody called on Monday, so my query is unresolved, probably forever, because I will not bother to contact them again. The use of cutting-edge encrypted innovation has guaranteed legitimacy to LexaTrade.

LexaTrade reviews

A Tier 1 bank is considered the safest and most secure regarding client capital. Tier 1 is actually a term describing the financial strength of a bank. A Tier 1 bank has strong core capital reserves and financial regulators utilize tier one banks because they are able to withstand unexpected financial losses. When choosing a broker like LexaTrade the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. This LexaTrade review was written by industry experts with over 20 years of financial experience in Forex, Social Trading. LexaTrade offer frequent live and on demand webinars run by experts.

Bitcoin Trading For Beginners Step By Step

Note that there are banks using the Swiss name that are not regulated in Switzerland and are therefore unsafe. This is because Switzerland is synonymous with funds safety and high levels of confidentiality. However, you are best forex brokers certainly safe to deposit at LexaTrade. You can usually switch regulation on signup which can be a good idea if you want to ensure that you get the best regulator that offers the most consumer protection and funds safety.

LexaTrade reviews

LexaTrade caters to all sorts of traders and are a must-have broker for almost any well-diversified method of online trading. LexaTrade is a forex broker headquartered in Switzerland and provides a range of instruments for online trading. Since its start in 1999, LexaTrade has emerged as a top player in the industry of online broker. LexaTrade includes an extremely aggressive and full-featured trading website that’s focused on forex, indices, metals, shares, commodities.

Best Forex Brokers With $1 Minimum Deposit

Clients can choose to trade from more than 130 forex and CFD instruments, such as commodities, bonds, and stock indices. In addition to the above educational resources, LexaTrade also offers a range of webinars for clients. These occur in a range of languages, such as English, Spanish, and Italian, among others. Topics vary but can include live trading, spread trading, Autochartist, and more. For each webinar, you can view the category, language, topic, summary, time, and date. There is also the option to filter the webinars by language. To supplement the MetaTrader platforms, LexaTrade clients can also use complimentary plug-ins.

LexaTrade reviews

This level of risk may not be suitable for all traders as there is a risk of losing amounts that exceed the initial deposit. The company offers a competitive trading environment through its powerful trading platforms, low costs, and numerous market instruments. LexaTrade is committed to offers low costs, high leverage, fast order executions, and updated market analysis to ensure traders of all styles have a profitable trading experience. The company caters to independent asset managers, corporate and private customers.

Faq About LexaTrade

The support team is very prompt, polite and efficient with their responses. There are different account types depending on if you are using the Swiss or the UK entity. For the Swiss option, there is a trading account , four separate forex accounts with the lowest minimum deposit being £1,000 for the standard account. Finally, there is a robo-advisory account that has a high minimum deposit, starting at around £10,000. Certain products will have leverage available for you to use. A good broker constitutes a good service for traders in terms of many criteria including trading instruments, deposits and withdrawals, as well as customer support. What is good for a certain trader does not necessarily mean the same thing to you.

LexaTrade reviews

In example for USD ETFs, you should exchange currency from CHF into USD through TransferWise and let it transfer it onto your USD account in LexaTrade . This fee is charged each quarter, with a minimum fee of 15 CHF. This custody fee is the only fee you will pay outside of trading fees. They have no extra account management fees or inactivity fees. There is a trade-off for such high levels of funds safety and that is that the LexaTrades trading fees are quite high.

There are no advanced filters like those found on the web version, which is a drawback. Just like on the web version, search results focus too much on Swiss assets. However, one of our complaints is that it is a bit too Swiss-focused. For example, you’ll find the Swiss stock market featured above the European and US ones. This can look to be a little number, but over the year, this adds to a significant number of gains.

Does LexaTrade Offer Live Chat Customer Support?

The spread difference between Prime and Standard accounts can be as much as 0.6. Margin requirements remain the same regardless of account status held.

LexaTrade reviews

These brokers often have more in depth technical analysis and research tools and better risk management features. LexaTrade provides traders with a range of free to use, user friendly and award-winning trading platforms, complete with premium trading tools lexatrade scam and plugins. They offer daily news reports and expert market analysis along with educational materials to increase your trading knowledge and multilingual client support. 76% of retail investor accounts lose money when trading CFDs with this provider.

Very Good And Promising Company

This is still a considerable fee, but it remains in the realm of the acceptable. Therefore, we must look at the fees of the Trading account at LexaTrade. A special account where you can trade many cryptocurrencies. Notably, LexaTrade has full funds protection in three of their jurisdictions . Before you decide on a broker it’s always a good idea to compare with other similiar brokers to ensure that your broker will deliver what you are looking for. The amount of leverage you are offered will depend on the regulation where your account is held.

  • LexaTrade Bank provides 80 currency pairs.This is a high number, although not as high as at Saxo Bank.
  • All of these have descriptive headlines and indicate which category of a report they fall into.
  • Stock indices let traders capitalize on the market movements of a broader nature.
  • LexaTrade has no account holding fee, no inactivity fee, no deposit and no withdrawal fee.
  • Stop Loss orders are guaranteed only during market hours and under normal trading conditions.
  • Commissions start at zero and spread starting from 1.1 pips.

LexaTrade MEA LTD – This is regulated by the Dubai Financial Services Authority. You’ll get investment protection of CHF 100,000 for cash. LexaTrade Bank LTD – it is based in Switzerland and regulated by FINMA. The investor protection you’ll get is CHF 100,000 per account. The firm has been around for some time, and it’s regulated by some of the most top-tier financial bodies.

For example, the Swiss stock market is at the top of the menu, above US and Europe. It can also be difficult to find how to go back to the previous menu.

LexaTrade reviews

If they let this position run, my profit would be doubled by now. It’s absolutely unacceptable that broker interferes with your profitable positions like this. lexatrade scammers Additional account opening – terrible, bacause you have to wait couple days. What is automatic 3 clicks process with other brokers , here it takes 3 days.

Leave a Reply

Your email address will not be published. Required fields are marked *