With license from IFMRRC, clients are ensured that all operations are legally binding and conducted under legitimate terms. If one is to look for the company’s web rating, an engine search on the internet will render negative LexaTrade broker reviews. While we cannot fully dismiss the possible fraudulent activities, we also have to take into account their reliability and if these claims have substantial bases. To neutralize the backlash that LexaTrade faces, attached below are two positive reviews taken from the web. Similar to other brokerage firms, LexaTrade has its own set of benefits and setbacks.
Is LexaTrade a Scam? Honest Review 2023
For starters, there’s the fact that the cheapest account doesn’t require a huge deposit. True enough, IFMRRC does not hold the prominence that other well-known regulators have. While this may seem unfavorable for clients looking for well-regulated brokerage firms, it can be concluded that LexaTrade is still a decent broker. More so, it has been responsive and highly attentive in giving resolutions via complaint form, which can be found on LexaTrade website. As per LexaTrade conditions, if the referred client makes a deposit between $500 to $10,000, then 50% of it will be the referral bonus.
Trading with LexaTrade
LexaTrade has a referral program in which affiliates receive up to 50% of the deposit amount as a bonus. 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. Lexatrade is a dynamic brokerage platform catering to both forex and crypto traders. With a user-friendly interface and a range of trading tools, Lexatrade aims to provide an exceptional trading experience for both novice and experienced traders alike.
At a glance, it seems amazing platform and opportunity to earn trading profit with LexaTrade is lexatrade regulated experts. 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.
Features
The most interesting about this platform is its automated trading option, completely providing high efficacy and larger margin of profitability for its traders. Members also engaged in health care fraud by having doctors issue unnecessary prescriptions for expensive compound cream, court papers say. The organization obtained roughly $3 million of contraband cigarettes and stole credit card information to make new fraudulent cards as well, according to the indictment. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. Claim your profile to access Trustpilot’s free business tools and connect with customers.
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.
Lexatrade offers personal account managers to its users and they help in trading. Lexatrade charges a spread on trades, which is the difference between the buy and sell price of a financial instrument. The spread varies depending on the account type and the financial instrument being traded.
Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained in the Website. While LexaTrade is equipped with impressive advantages, it still faces negative reviews. This may be from the company’s financial malpractice or maybe from competitors’ interest to drag LexaTrade down. Regardless, we still have to consider the legal documentation presented in its official site.
People who looked at this company also looked at
Lexatrade is a global brokerage firm offering a wide range of trading services in forex, stocks, and cryptocurrencies. With a user-friendly platform and an array of educational resources, Lexatrade caters to both beginner and experienced traders. XCritical- Another external platform that LexaTrade offers is the xCritical system.
- We aren’t the biggest fan of the huge jumps between the sums you need for different account types.
- While SVG has no regulatory body, recently the government of Saint Vincent and the Grenadines has claimed that it is planning a complete reformation of the nation’s FX and CFD regulatory grounds.
- Besides, LexaTrade’s Web platform offers all the tools that can turn a skilled trader into a profitable trader.
It offers signals and pattern recognition and is generally regarded as a reliable tool but of course there are no guarantees that it will be profitable. 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. The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices.
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