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.
Using a Data Room for M&A
- We wouldn’t recommend using this forex brokerage, they donot impress us with the vague information they have provided.
- Lexatrade is a dynamic brokerage platform catering to both forex and crypto traders.
- 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.
- 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.
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.
Is LexaTrade A Scam?
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.
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.
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. Overall this is a promising broker but a few tweaks here and there would make it a better one. Lower deposits, more information about deposits and withdrawals, a basic FAQ, and a demo account are just a few adjustments that would go a long way and would make LexaTrade a higher-tier broker.
Lexatrade’s Trading Platform
At a glance, it seems amazing platform and opportunity to earn trading profit with LexaTrade 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.
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 is lexatrade regulated 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.
LexaTrade charges a service charge of 5% when customers has made less than 5 independent transactions. LexaTrade provides access to popular cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and more. There is a tremendous risk on any transactions interested traders mayconclude with the brokerage and we deeply recommend they look elsewhere forviable trading option. Brokers required various licenses and regulators’ approval to serve investors and traders. The overall structure of the accounts at LexaTrade is too expensive in my opinion and putting a $10,000 barrier between the trader and MT4 means that the majority of clients will not use this platform.
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.
