Even when individuals reach Lexatrade for this, Their customer executive encourages upgrading the account type to get funds back. Moreover these personal manager act as LexaTrade affiliates who enforce clients to deposit more on their platform. LexaTrade has a referral program in which you’ll receive up to 50% deposit amount as a commission. We are back with our unbiased review of LexaTrade, an online trading broker company. 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.
Trading Platforms
- As per the whois data, the domain Lexatrade.com was registered in September 2018, and according to similar web data it has around 13k monthly traffic from Kenya (60%) and India (26%).
- Lexatrade has provided very less information about its organization.
- LexaTrade charges a service charge of 5% when customers has made less than 5 independent transactions.
- Moreover these personal manager act as LexaTrade affiliates who enforce clients to deposit more on their platform.
- The broker doesn’t hide the fact that it’s trying to goad you into depositing more.
As per the whois data, the domain Lexatrade.com was registered in September 2018, and according to similar web data it has around 13k monthly traffic from Kenya (60%) and India (26%). There are currently road test cancellations or DMV offices closed for in-person services. See our “Cancellations, Closings and Delays” page for more information. Offering incentives for reviews or asking for them selectively can bias the TrustScore, which goes against our guidelines.
Is Lexatrade a legal broker?
These platforms are popular among traders due to their advanced features, which are defined below. LexaTrade began by managing cash transactions in real-time trading using PAMM lexatrade owner accounts. Over time, it has grown and developed advanced trading solutions and a variety of financial instruments, becoming a well-known online brokerage brand.
The case with its funding is much of the same, as there are some things that look good. For starters, there’s the fact that the cheapest account doesn’t require a huge deposit. Many regulated brokers allow $50 and even $10 as minimum deposits, so maybe you should pick one of those.
It allows them the greatest reach, as the primary concern with the accounts is budget rather than trading style. Hope the above information is enough to know the basics of LexaTarde, account types, its services, fees and referral program. 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. Lexatrade offers the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms.
LexaTrade Review: Fees, Commission & Spreads
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. On the other hand, the majority of traders don’t need Expert Advisors, scripts and the (sometimes) stuffy interface of Meta Trader. Besides, LexaTrade’s Web platform offers all the tools that can turn a skilled trader into a profitable trader.
MT4 is one the world’s most famous and reliable trading platforms for Forex. The user-friendly UI of the platform helps both beginner and professional alike. We aren’t the biggest fan of the huge jumps between the sums you need for different account types. However, that’s a minor complaint, as what you get for each account is actually pretty fair for the price point. One more significant concern is that the broker locks the MT4 platform behind the more expensive account types. The setup itself is tried and true and is one of the most common ways for brokers to structure their accounts.
Later they said that the amount was too low for a trade so I left the money there only to find later that the money has disappeared. But considering various reviews, we found that their so-called experts have very less knowledge and most trade signals are loss-making. Organization and company which provides financial services need to obey various policies and get approval from regulators in every jurisdiction. Lexatrade has provided very less information about its organization. It is registered in Saint Vincent and the Grenadines (A small country in the Caribbean), a kingdom of thousands of shell companies.
LexaTrade is a newly launched, regulated broker that offers CFD trading on currencies, cryptocurrencies, indices, and commodities. The owning/operating company is Swissone Group Ltd, located in St. Vincent and the Grenadines and registered with the IFMRRC – Certificate TSRF RU 0395 AA V0165. The information on Forex-mag.com does not serve as an investment or trading recommendation. The server operator Almina Corp as is not a registered broker, investment advisor or broker. 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.
