LexaTrade is a global online trading platform offering a range of financial instruments, including forex, commodities, indices, cryptocurrencies, and stocks. It aims to attract traders with promises of high leverage, multiple account types, and extensive educational resources. However, LexaTrade has been the subject of mixed reviews due to concerns about its regulatory status and business practices.
Is LexaTrade Safe?
- There is also a certain affiliate program on the site, which helps customers to bring new users, promising them a bonus in return.
- With the surge of online trading platforms, the potential for scams has also grown, and LexaTrade has emerged as a broker raising serious concerns.
- Despite its presence and marketing efforts, significant questions remain about whether LexaTrade is a legitimate broker or not.
To ensure the security of their clients’ funds, LexaTrade implements strict payment procedures. The client’s depositing method must also be used when withdrawing funds to prevent financial theft. This is also a great security measure against online hackers who transfer client’s funds into their bank accounts and withdraw the money. Also, LexaTrade only partners with trusted international banking institutions when handling their corporate funds.
It provides explanations to forex movements, IPO announcements, currency forecasts. U.S. dollar and political events in the United States are only some of the regular topics in economic news. Forex broker LexaTrade provides at least five necessary trading tools and research materials, the most important ones that either make or break a trade.
LexaTrade Trading Conditions: Instruments and Tools
But then, it must be noted that the success of trades is not necessarily reliant on the type of broker that a trader enlists but on strategies that they employ. And for sharpening and improving strategies,the broker offers many possibilities and tools. Daily Market News are financial reports that thoroughly assess the impact of global events on the financial markets.
It uses a license from a regulated company (they almost have the same name) or gives a invalid license number. Also pay attention to licenses from offshore countries such as the Marshall Islands or Saint Vincent and The Grenadines but isn’t just these fraudulent countries, there are several. Now we are going to deal with reviews gathered across the worldwide web.
When an existing client successfully gets another trader to sign up to LexaTrade, clients are awarded up to 50% of the deposited amount of the new client. Any existing trader can sign up to participate in the program and receive incredible bonuses. Several red flags have emerged from user experiences that cast doubt on LexaTrade’s legitimacy, making it essential to understand these warning signs before investing any money. Scammers employ persuasive tactics to convince you to make an initial minimum deposit. They entice with promises of doubling the deposit within 24 hours and similar claims. After obtaining the initial deposit, more experienced scammers may be brought in to extract additional funds.
The strongest suit of LexaTrade is its quality services, which were noted multiple times by traders in LexaTrade broker reviews. The company has even developed its own platform to carry the brand and quality of services expected of LexaTrade. Now we are going to know about LexaTrade’s accounts and how they shape a world-class broker.
Final Verdict: Avoid LexaTrade
The first LexaTrade review is found on TrustPilot’s page and the other one is written on LexaTrade’s Facebook page. Both statements did not detail Urbanek’s issues with the broker, and only proceeded to create false statements about it. These statements have no legitimate grounds and are clearly libelous. False statements like these are easy to create but have a dangerous impact on the broker’s reputation. This is why reviews like these are most often created by competitors.
Real LexaTrade Clients Reviews
With the surge of online trading platforms, the potential for scams has also grown, and LexaTrade has emerged as a broker raising serious concerns. In this review, we’ll examine lexatrade why users should exercise extreme caution if considering LexaTrade. LexaTrade raises numerous concerns that seriously undermine its legitimacy as a forex and CFD broker.
LexaTrade’s operations appear to follow this pattern, offering services without a well-known or stringent regulatory body overseeing its activities. Some are legitimate issues and concerns, while others were scammed by LexaTrade — false claims crafted by competing companies. There will always appear negative reviews about every broker, even the most trusted ones. This is a simple fact in the trading industry, where competition can sometimes be cutthroat. Below is an analysis of some negative reviews hurled towards LexaTrade. As stated above, the LexaTrade website offers five account types to their clients.
Deposit and Withdrawal Fees:
We present your user reviews, according to the rating of a broker. All of our reviews are based on research carried out by professionals. This alone raises considerable doubt as LexaTrade’s users are simply not assured of legal means to recover or compensate for the potential untimely loss of funds. LexaTrade’s lack of regulation is something we should not gloss over regardless of the firm’s advantageous features.
As a result, I opened an account there, on which I have been trading for six months. Users advise LexaTrade to review their minimum deposits against the offers found in each of their trading accounts. In LexaTrade review, the writer had highlighted LexaTrade’s provision of deposits commission.
Trading with LexaTrade lets you invest in globally-traded assets like U.S. oil, Brent, and spot gold. Given the nature of these sites, LexaTrade broker reviews and comments lodged through Social Media range from the uninformed to mere bias. Given platforms are simply a free-for-all, just about anyone, regardless of education and inclination, can post whatever their ill-conceived experiences allow them to. That is why, if you only choose the Forex broker, make your decision based only on verified official information. LexaTrade claims to offer access to a wide variety of financial instruments across several asset classes.
Customer Support
- It is a convenient platform that has a user-friendly interface and great terminals, making way for profitable trading with minimal risks.
- Every broker has received negative feedback from customers, critics, and even the general trading industry was accused of cheating.
- Identifying which reviews are true is also a skill that any aspiring trader must acquire.
- Many clients have expressed how LexaTrade has helped them build their trading careers and increase their profits.
It improves its services based on what its clients ask for to work on the market, and this has earned the trust of traders everywhere. Real LexaTrade broker reviews can attest that company is worth trading with. LexaTrade offers a competitive range of trading instruments and features, making it a suitable choice for both beginner and experienced traders. The platform’s user-friendly design, multiple account options, and access to popular trading platforms such as WebTrader and MT4 make it an attractive option. However, the lack of major regulatory oversight could be a concern for some traders who prioritize security and transparency.
LexaTrade’s absence of transparent regulation is a major red flag that seriously questions its legitimacy. The review above is an example of a false claim because it links the broker to a common circumstance in trading and does not fall under the broker’s control. Market risks are one of the most important things that any trader must fully understand from the onset.