On the other hand, the majority of traders don’t need Expert Advisors, scripts and the (sometimes) 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 broker doesn’t hide the fact that it’s trying to goad you into depositing more. 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.
One more significant concern is that the broker locks the MT4 platform behind the more expensive account types. The setup itself is tried and true and is one lexatrade review 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. Of course, we cannot vouch for the accuracy of the signals but it’s a nice addition. Unfortunately LexaTrade doesn’t offer a lot of information about withdrawals but according to the website, a representative will contact you to complete the processing, which takes up to 24 working hours.
- Later they said that the amount was too low for a trade so I left the money there only to find later that the money has disappeared.
- The platform is designed to offer a convenient and user-friendly trading experience, with excellent terminals that make trading profitable while minimizing risks.
- 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.
- The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client.
What is the maximum deposit required for an account on LexTrade?
This unregulated platform operates without the necessary regulation, raising doubts about the safety of your funds. While regulation alone does not determine a scam, it is an essential factor to consider. Dealing with an unregulated company like LexaTrade increases the risk factor of your money. In legitimate platforms, fees are typically clear and transparent from the beginning.
If you discover yourself in such a predicament, take the subsequent measures to recover your funds:
The user-friendly UI of the platform helps both beginner and professional alike. In conclusion, while the promise of easy trading may be tempting, LexaTrade is fraught with risks that make it unsuitable for investors who prioritize security and legitimacy. All we could find is that withdrawal processing takes up to 24 business hours and that a representative will contact the client in order to complete the processing of the withdrawal. 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 an online financial services company thats been providing superior and transparent trading services to all traders across the world in the trading markets.
Red Flags Indicating Potential Scam Activity
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. Brokers required various licenses and regulators’ approval to serve investors and traders. If a trade position is kept open and carried over to the following day, a commission will be charged to the trading account for using the credit.
Risk Warning:
The platform is designed to offer a convenient and user-friendly trading experience, with excellent terminals that make trading profitable while minimizing risks. With over 170 trading instruments, various tools, and timely risk management features, the platform ensures a high-quality trading experience overall. LexaTrade customer support is very impressive as it offers full-time support with 24/7 operating hours. Many regulated brokers allow $50 and even $10 as minimum deposits, so maybe you should pick one of those. On the other hand, if you are confident in your abilities and $250 is not a lot for you, then LexaTrade may be a good choice.
LexaTrade offers diverse trading instruments such as Forex, Commodities, Indices and Shares. LexaTrade is licensed and regulated by the International Financial Market Relations Regulation Center (IFMRRC). With the surge of online trading platforms, the potential for scams has also grown, and LexaTrade has emerged as a broker raising serious concerns. Reviews and reports from users suggest issues that point to LexaTrade being a potential scam, primarily due to limited regulatory transparency, suspicious practices, and challenges in withdrawing funds. In this review, we’ll examine why users should exercise extreme caution if considering LexaTrade. Moving forward with this LexaTrade review, we will further discuss the platform’s fees, platforms and account types.