Is LexaTrade A Scam?

Is LexaTrade A Scam?

I’ve sent them two email support cases, messaged them on Twitter and tried phoning them (but their phone support team aren’t dealing with verification issues right now so that’s no help). The easy markets online CFDs trading company are honest, trustworthy and professional.

scammed by LexaTrade

Something else that you will really benefit from while using the MT4 platform is the ability to code EAs. LexaTrade has absolutely no restrictions on these EAs so its really only your scripts vs. the market. Although the MT4 platform can be considered “advanced”, there are a plethora of resources online that can get you going. If you would like more resources and guides about how to use the MT4 then drop us a contact here.

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This means that their services are 100 percent transparent and they provide the needed security to protect both user funds and data. They offer a mobile app available for both Android and iOS users. The educational service is a part of the offering too, while the traders of any level can find some useful information and perform even better trading.

  • It takes 1-2 working days for these transactions to be processed and LexaTrade doesn’t charge its customers any amount for approving the transactions.
  • Easy Markets is a properly licensed and registered Forex brokerage.
  • I am a full time trader and recently I have been arguing with Easy Forex/ Easy Markets and the are stealing $7000 from me.
  • Since launching in 2001, the broker has racked up some pretty impressive stats.
  • Saftey of funds and risk management procedures are essential.
  • The first thing that stuck out for us was their limited crypto coverage.

All of our questions were answered promptly and it really smoothed our review process. It seems that they have spent their 19 years in operation honing a comprehensive yet simplistic trading experience for traders of all stripes. The first thing that stuck out for us was their limited crypto coverage. They have such a large range of assets but only have three cryptocurrencies on offer. They are competing with established cryptocurrency exchanges with hundreds of assets and much higher leverage. If you prefer to download offline content to read later then there is an extensive range of eBooks.

LexaTrade Vanilla Options

Finally, although LexaTrade is a global broker, there are still a number of countries and regions to where they do not supply their services. This is most likely due to local laws and regulations but LexaTrade could always apply for a new licence in one of these regions. You also have the option to join some chat groups with other traders. This can be great for those who prefer the more interpersonal method of learning with fellow traders. Finally, there is also an option to view all of the upcoming events. It’s always great when a broker provides additional educational resources to their traders. Indeed, we all know about the analogy of “teaching people how to fish”.

scammed by LexaTrade

When opening an account, trading assets, and conducting transactions, traders may have questions or problems. To solve them as quickly and efficiently as possible, LexaTrade provides customers with a support service. The broker’s staff will answer questions and help you resolve any difficulties. The training materials presented on the broker’s website are available to all traders, regardless of their type of trading account. Here, both a beginner and a trading guru will find useful information. The knowledge gained can always be checked on a demo account without risking your capital. The broker also allows you to test your trading conditions, new strategies, and trading skills on a free demo account.

Reliable Trade Review: Is Reliable

Many brokers try to claim that their platforms are designed to be easy to use. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits. There was an issue with the connection which is unrelated to the MAC or PC that the client is trading on but relates instead to the internet connection itself. LexaTrade is not responsible for any losses resulting from a poor internet connection and this is clearly stated under Section 10 paragraph 2 of our terms and conditions. ‘Sell Stop’ allows you to open a position at a predetermined price level. It is much alike with ‘Buy Stop’, however, the difference is the current price is higher than the value set. This one is usually used by traders that assume the price will reach a level and continue falling.

Therefore, there are no PAMM accounts, no service for copying trades, or other investment programs in LexaTrade. The LexaTrade broker is an option for active traders who are ready to make independent decisions and manage their capital personally. The company is also suitable for investors, as the broker provides instruments for long-term investment. The size of the spread depends not only on the asset that the trader is trading but also on the type of account and trading platform. However, traders will still have access to analytics with technical indicators, graphical objects, a full set of trading orders, and functionality to close and modify existing orders.

scammed by LexaTrade

Traders seek an honest online broker that offers uncomplicated trading. LexaTrade claims to offer simple trading, honesty, and transparency to its clients. How serious and dedicated is LexaTrade with its core values?

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Detailed conditions can be found during registration since different types of customers require different types of remuneration and varied conditions. Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings. It is well-regulated and has a strong track record since it has been in business since 2001.

scammed by LexaTrade

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You will get a confirmation email once you submit the required information. Verify your email, login to your account, and view your profile. You can proceed to deposit funds into your account and start trading the financial assets available on the LexaTrade platforms. LexaTrade is also big on the security of user funds and data. stock market The payment system here has been streamlined to make it easy for users to deposit and withdraw funds. However, anyone other than an account owner would find it almost impossible to carry out transactions. The customer funds are separated from the company’s operational accounts and are kept with established banking institutions.

Withdrawal Options And Fees

VIP account-holders also have access to same-day deposits and withdrawals. The LexaTrade minimum deposit varies by the account chosen. The lowest minimum amount relates to the standard account, which is $200AUD. The largest minimum amount relates to the super VIP, which is $50,000. The incentive to choose an account with a higher minimum deposit is lower fixed spreads and a personal account manager. Regulatory compliance is what the traders appreciate the most and ensures them that the deposits are safe and segregated in the top-tiered banks. There is only one standard account process but the customer service is there to help you set up the account.

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Traders must have worked in the financial sector for at least one year in a professional position, which requires knowledge of the transactions lexatrade forex broker or services. We advise you to read LexaTrade’ risk disclosure, customer agreement, and terms of business before you start trading.

scammed by LexaTrade

Well, given that they are market makers it means that the trades are executed internally and risk is managed on their books. This lexatrade official site means that they have control over their clients risk and can ensure that their accounts don’t enter negative balance territory.

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