LexaTrade Review 2023: Is It A Scam? Unbiased Review

Apply these swing trading techniques to the stocks you’re most interested in to look for possible trade entry points. Swing traders mostly use temporary price movements how old is lexatrade to make small profits that cumulate over a long time to yield large gains. However, it is an offshore broker restricted to operating in the US and Europe.

However, the translation itself is shoddy, so the website ends up looking unprofessional. There is even nothing to be surprised at in such comments. But at the same time, for people with a head on their shoulders, Lexatrade is quite a working tool. I have been working with Lexatrade since the summer and have withdrawn money 3 times during this time. I did not notice any problems with this broker, with the exception of sales managers.

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Best Forex Broker

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.

how old is lexatrade

The participants include large banks, multinational corporations, governments, and speculators. Individual traders comprise a very small part of this market. Because of the volatility in the price of foreign currency, losses can accrue very rapidly, wiping out an investor’s down payment in short order. Take control of your trading with powerful trading platforms and resources designed to give you an edge.

MT4’s interface is intuitive and has a benevolent number of tools. It permits them to trade safely with its technology without any need to download and install it on the traders PC or mobile device. I have just started, so far I am good with the trading tools. Haven’t had withdrawal yet but based on observation, brokers are skilled and easy to deal with.


A series of educational resources is available at LexaTrade, such as economic calendar, expiry date of futures, trading hours, compound interest calculator, etcetera. In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. LexaTrade is an offshore broker registered in Saint Vincent and Grenadines, currently has no any regulations. There are way too many categories on lexatrade.com, and navigating around the website is challenging. The dropdown menus have vague names, and as such, the categories inside them seem almost arbitrary.

how old is lexatrade

The cheapest option is $250 while the most expensive is $100,000. IFMRRC stands for International Financial Market Relations Regulation Center. It’s a non-commercial organization that regulates about 60 brokerages.

The best way to recover your money from LexaTrade is to contact their customer support. If that doesn’t help raise a complaint against the platform with its regulatory watchdog i.e IFMRRC. Meanwhile, most of the complaints are related to the LexaTrade is a scam and accounager who force clients to make more deposits.

The company charges a service charge of 5% if users make less than 5 independent transactions. The platform offers a long list of trading instruments, is regulated and most importantly, is not a scam. The deposits are instant, while the withdrawal may take up to 3-5 business days to process. In my opinion, the platform should incorporate more payment methods. If, in general terms, the company works honestly, and I would not find any illegal actions.

We wouldn’t be surprised if entry-level traders couldn’t find their way around and simply decided to use another brokerage. For us, the elephant in the room when visiting lexatrade.com is how clunky the language https://cryptolisting.org/ is there. It seems like the website wasn’t designed in English, but rather translated from another language. We know some brokers like to take that approach, and it usually works moderately well.

Related software

Clients have access to Multi-Account Manager (MAM/PAMM) software, which is suitable for traders or money managers utilising EAs. The broker has a lot of disadvantages which overshadow its features. Additionally, the broker is unregulated and has high spread charges. The platform’s features that are worth considering include bonuses, advanced trading platforms and learning programs. IForex trading platforms are mobile and web-based trading platforms with over 750 CFDs and real-time charts. XM offers MT4 and MT5 trading platforms across devices and even on the web through MT Web Trader.

  • Traders who have reached this state have more points, trade without restrictions on the number of transactions, have access to funds, and have the opportunity to defer payment.
  • LexaTrade platform gives its clients the capability of fixing profits and limiting potential losses in a timely manner.
  • LexaTrade is an offshore broker registered in Saint Vincent and Grenadines, currently has no any regulations.
  • Yes, the broker offers trading services across the globe with a focus on countries like India, South Africa and most of Asian countries.
  • With only a few minutes of work needed a day, it is easy to use the software and to earn consistent profits with it.

When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located. Lexatrade offers full-time support with 24/7 operating hours. That, along with the multiple phone lines, makes the broker easy to reach.

LexaTrade is illegal

Remaining alert and wary of such shortcomings should take precedence. LexaTrade‘s year of founding and the regulatory body that sanctions its activities had not been disclosed through the firm’s site. To find out the brokerages profile, one should consult other sites with LexaTrade reviews. While not necessarily a red flag, this is completely inconvenient and taxing. To serve the cause of fairness, the reviews last segment will quote both positive and negative ones, that were gathered from various trusted brokerage review sites.

Hence, the allegations of scam and the libel hurled against it through various online resources are effectively dispelled. Trading conditions, if not the best, then some of the best, there have never been any hitches with execution, so that the connection disappears, too, is not seen. There is a slight glide, but I didnt notice a serious one, on EUR / USD there can be a glide of a maximum of 1-2 pips and then on serious news. It uses a license from a regulated company or gives a invalid license number. As with the other brokerage firms within St. Vincent and the Grenadines, there is no trail of evidence of LexaTrade‘s regulatory body.

FP Markets

Yes, LexaTrade is a scam broker as it is not regulated by any top tier regulatory watchdog. Back on Lexatrade, numbers on the complainant’s account kept rising, displaying $250,482 by December 2022. But attempts to transfer this money to his bank account weren’t working out. Given these three major points, LexaTrade may be seen in a more positive light.

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. 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.

With only a few minutes of work needed a day, it is easy to use the software and to earn consistent profits with it. At any time, the user can change the settings to suit the market conditions, their experience level, or risk-taking levels. Eventually, LexaTrade team has a significant amount of experience within the forex industry, hence understands what traders want and need exactly. Mobile Apps are also available and are very useful for modern traders stay updated with market conditions on the go.

The default proprietary platform is good enough, with an intuitive interface and a solid set of analytical features. As such, we can’t hold the deposit requirement for MT4 against the broker too much. But as we said, we don’t like paywalls for core features as a practice, although you may not mind them at all. 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.

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We offer a simple platform to navigate for beginners and professionals. We also have numerous features, including a demo-trading account, which can be used as your training ground to familiarize yourself with the platform. We value our users’ safety and have, therefore, invested in foolproof systems. Our website has strong encryption, and we are observant of global data protection measures. Our brokers are also reputable and regulated in all jurisdictions. Bitcoin Era scam is not true – we are here to improve your trading.

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