Such situations often happen; that’s why it is necessary to be attentive and to analyze the information. Analytical thinking will help not to make a serious mistake while choosing the broker by means of the internet. LexaTrade developed its own proprietary trading platform displaying a high-level of functionality, speed, and profitability.
- Use the “Stop loss” – an automatic order to close the transaction at that level of losses that you consider acceptable for yourself.
- The most significant advantages of gold accounts are reduced spreads and the possibility of passive earnings.
- You can choose which assets to trade, including the biggest and most popular ones.
- In this Forex review, we will try to see if LexaTrade fraud is made up by its competitors, and it is actually an honest broker.
The company promises users the first trial account, with a mandatory profit, as well as a Deposit bonus of 30 percent. There is no fee to open an account and the fees for deposits and withdrawals are not specified anywhere on the website. There is no mention of an inactivity fee but we cannot guarantee that you won’t be charged one. Of course, we cannot vouch for the accuracy of the signals but it’s a nice addition. 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.
LEXATRADE REVIEW
It comes with unique perks that will be very useful to professional traders. It is definitely more expensive than the Silver Account, but quality always comes with a price. Trading in the Forex market is based on the principle of changing the exchange rates of currency pairs (for example, EUR/USD, USD/GBP, EUR/GBP, etc.). A profit is formed based on the dynamics of mutual exchange rates of currencies included in such pairs. For example, in the transaction “the growth of the US dollar against the euro”, a currency pair US dollar – Euro (EUR/USD) is used.
A mobile platform is available but Demo accounts are not; US traders are not accepted. 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. 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. I have been working with LexaTrade broker for six months now.
LexaTrade: Broker Social Media Reviews
For example, you can invest in U.S. crude oil, Brent oil, spot gold, or silver. LexaTrade also provides trading signals for each of your trades. Commodities market is a great opportunity to diversify portfolios. It is also seen as long-term investments because of its steady and highly-profitable trading. If the forex market is volatile, the commodities markets go through even higher levels of volatility, which means trades must be carefully decided upon. LexaTrade’s live support team is also available to help any client with it.
SILVER ACCOUNT
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. For us, the elephant in the room when visiting lexatrade.com is how clunky the language 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.
CUSTOMER SUPPORT
At our webinars, you get information directly from market professionals. You can watch the experts trade, get answers to your questions and comments on trading strategies. Lexatrade has launched a universal course for investors with any experience. Its fraude company consists of lots of incompetent employees lexatrade in India who always make you invest with a false commitment and later they denied to keep their promises. They never give you money back by making you fool showing some policies. All contact numbers in their web sites are incorrect so that whenever you want to contact them they will not be available.
Commodities being long-term investments means that they must be carefully decided. Broker LexaTrade ensures that its 24-hour client service team provides the best support to traders. Trading in commodities markets subjects you to high volatility, an excellent investment opportunity. You can choose which assets to trade, including the biggest and most popular ones.
Despite all reviews, it is strongly recommended to make decisions and build a strategy independently. As we are wrapping this in-depth LexaTrade review, the only thing I would say is to avoid this platform. The broker is unregulated and has a lot of disadvantages which overshadows its genuine features, such as high spread charges. The genuine features of the platform that are worth considering include bonuses, advanced trading platforms and learning programs. A web-based proprietary platform that lets traders experience advanced trading.
The setup itself is tried and true and is one of the most common ways for brokers to structure their accounts. It allows them the greatest reach, as the primary concern with the accounts is budget rather than trading style. Lexa Trade has all the necessary documents, which means that the entire company is legally engaged in its activities.
XCritical is lesser known to traders than MT4, but this does not make it inferior in providing quality services. Also, a mobile platform is far more accessible and convenient than any other platform, which means traders can trade anytime and anywhere without the hassle. Aside from trading, clients can open positions, manage their account, and execute trades without delay. They can also set stop loss and take profit, track the movement of quotes, check forecasts for different instruments, and view their account balance.
It ensures clients’ protection from cyber theft and market risks because they are very common in trading. Clients have also praised its safety and convenience, among all other qualities. LexaTrade has certainly made it big in the trading industry, so let’s find out what makes it a cut above the rest.
Silver Account
Some users don’t believe it, but numerous positive reviews prove that it is not a scam. This activity is undoubtedly worth trying, both for experienced and inexperienced traders. XCritical platform is favored by 8 out of 10 traders in the Forex trading industry.
There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. Your financial security is of paramount importance to us, and we fervently endorse the exercise of due diligence and seeking professional guidance when making investment decisions. Investing in indices such as NAS100, EUR50, JPN225, and USA30 provides several advantages to traders who are interested in index trading. Of course, the broker has options for downloadable terminals, web platforms, and mobile apps. 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.
LexaTrade
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. However, it’s apparent that it’s much less limiting than even the more lenient country-based regulators.
However, the translation itself is shoddy, so the website ends up looking unprofessional. Lexa trade office is the part of the Maxi Markets group, as this site works on partnership terms with an offshore organization that provides access to the XCritical software. One more thing, I found out that brokers registered in offshore countries such as the Marshall Islands or Saint Vincent and The Grenadines, and this threatens me. There is also a certain affiliate program on the site, which helps customers to bring new users, promising them a bonus in return.