LexaTrade Review 2023: Is It A Scam? Unbiased Review
The broker offers a web-based proprietary platform that lets users experience advanced trading. It claims to offer advanced trading tools, increased speed and safety. The minimum deposit is $250 and the available methods are Visa, CryptoWallet and e-Payouts; the processing time is not specified. Information about withdrawals is missing and this should be addressed by LexaTrade.
The broker has a low user rating of 2.1, which clearly shows the platform’s low credibility. While looking for the platform on Trustpilot, we went through many complaints, which indicate LexaTrade is a scam. As a forex trading platform, LexaTrade is legal in India. However, it is an offshore broker restricted to operating in the US and Europe. In order to attract more traders on the platform, LexaTrade often starts promotions. The bonuses and the promotion programs look generous.
Sir / madam in this regard I searched the company address of India. Click the following links to hear the behavior of the executive’s in lexa trade. I am going to file the cyber crime complain against them if they did not refund my money. They encourage you to extract maximum amount from you and then open deals conveniently to bring you down to “ALL RED” and refuse to return a single penny. Your fund will be reflected in your bank account in 3-5 business days. The LexaTrade referral program activates when you invite your friend to sign up for the platform.
On the other hand, the majority of lexatraders don’t need Expert Advisors, scripts and the stuffy interface of Meta Trader. Besides, LexaTrade’s Web platform offers all the tools that can turn a skilled trader into a profitable trader. The platform offers a long list of trading instruments, is regulated and most importantly, is not a scam. The platform supports all major payment methods for deposits and withdrawals, including bank wire, credit /debit cards, Skrill, Neteller and OrangePay. Also keep in mind that the company is regulated , which is not the fiercest of financial watchdogs, but any type of regulation is better than no regulation at all.
What Payment Methods Are Available At Lexatrade?
They know what sort of difficulties you may encounter and are only too happy to share their experience with you. They will help you avoid errors in class so you can make your start in the profession even easier. Users caught spamming or abusing will be deleted from the site and prohibited from future registration at thatsucks.com and affiliates. We recommend staying within the range of good taste and respectful language to avoid any unpleasantness. 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.
Of course, we cannot vouch for the accuracy of the signals but it’s a nice addition. 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.
That being said, caution should be used anytime money is involved, with all brokers, old or new. Its fraud company, dont upload money with this portal. I have uploaded some moeny and post that they have locked my amount and i am nither withdraw nor able to trade. They are asking more money to upload to enable my account and not returning the amount that i have already uploaded. 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. The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client.
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The broker has a lot of complaints and the majority of negative LexaTrade reviews can be found at Trustpilot. Detailed Lexatrade review 2023, you have likely noticed the platform has not much to offer to its users. However, zero fees on the trades is still the USP of the platform. 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. Every single one of our instructors has gone from a beginner to a practicing trader.
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 registered with them by depositing $250USD and play couple of trade and earned $236usd. When I contacted them they do not have clear answer.
How To Deposit Money In LexaTrade?
Instead of falling for the LexaTrade scam, we recommend you to start with a more trusted platform like InvestFW. Yes, LexaTrade is a scam broker as it is not regulated by any top tier regulatory watchdog. For us, the results of our students are super important, so every webinar will present case studies based on real-life situations! We make sure that for every 20% of theory our students are given 80% of practical examples that are bound to come in handy in real trading.
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This https://forexhero.info/ offers a balanced mix of functionality and user-friendliness. And besides, if you really want to do advanced technical analysis, LexaTrade offers Meta Trader 4 so you can have the best of both worlds. This platform is the worst I have ever gone through. A bunch of cheaters who have looten thousand of ppl till now n this may be ascertained from the reviews. They make false promises and convince you to invest money with a minimum amount of $250 once u visit the site. They will do registration before even u cud understand them.
Our mission is to assist millions of traders in finding the best broker. We unbiasedly review every broker and rank them based on their market standing, regulation, and other factors. Reviews are updated regularly to ensure that every trader has the most up-to-date information before making a choice. The minimum deposit at LexaTrade is $250, a slightly higher in this competitive world, with many offering accounts opening at $0. Therefore, for some people it will always be like a scam.
- Therefore, for some people it will always be like a scam.
- The platform supports all major payment methods for deposits and withdrawals, including bank wire, credit /debit cards, Skrill, Neteller and OrangePay.
- LexaTrade is a Forex and CFD broker that offers to trade in currencies, indices, and commodities.
- Lexatrade has developed an online training program for traders that takes students from their first deal to consistent results in the market.
- However, it quickly garnered popularity among traders, thanks to one-of-a-kind features and the services.
Today my balance was USD821 and free Balance was more than USD550. On request for withdrawal of USD 400, I was advised to open a del in sell segment of Natural Gas with USD196 than my entire balance gone negative. Even the personal manager engaged for help do not bother for small traders.
How To Withdraw Money From LexaTrade?
There is no mention of an inactivity fee but we cannot guarantee that you won’t be charged one. Live chat support was available at the time of our visit but a bit slow to answer. The website is translated in 6 languages, the platform is relatively easy to use and offers all the features needed by an average trader. A mobile platform is available but Demo accounts are not; US traders are not accepted. The methods for deposit are Visa, CryptoWallet and e-Payouts and we assume the same methods will be used for withdrawals, although LexaTrade doesn’t mention this specifically.
The account offering is appreciable but it still lacks at some points. Lexatrade customer service is bad, the account managers are irresponsible please becareful to use them, they are so frustrating. Since they persuade to open account, after I do know of them attend to my email again. Yes, the broker offers trading services across the globe with a focus on countries like India, South Africa and most of Asian countries.
All early signs show that LexaTrade is not a scam but keep in mind this is a very new CFD broker. This is not the case with LexaTrade and thus far we consider this CFD broker a reliable partner for your trading needs. After analyzing the detailed LexaTrade review, we can say the company is totally a scam. The minimum withdrawal amount on LexaTrade is $ 50. The company charges a service charge of 5% if users make less than 5 independent transactions. Meanwhile, most of the complaints are related to the LexaTrade is a scam and accounager who force clients to make more deposits.
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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. LexaTrade is a Forex and CFD broker that offers to trade in currencies, indices, and commodities. The parent company of LexaTrade is Swissone Group Ltd, located in St. Vincent and the Grenadines.