They even have affiliates who individually promote platforms to others and force them to invest maximum money. But considering various reviews, we found that their so-called experts have very less knowledge and most trade signals are loss-making. LexaTrade has a referral program in which affiliates receive up to 50% of the deposit amount as a bonus.
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. 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. Each account type comes with its own set of perks, with the higher account types offering the best perks and benefits. 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.
There is no solid information about the founder of LexaTrade and its parent company.
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. The commission is based on the size of the transaction and ranges from 0.005% to 0.015% for most instruments, while it is 0.5% for cryptocurrencies.
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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.
LexaTrade Bonus
Lexatrade has provided very less information about its organization. It is registered in Saint Vincent and the Grenadines (A small country in the Caribbean), a kingdom of thousands of shell companies. At a glance, it seems amazing platform and opportunity to earn trading profit with LexaTrade experts.
LexaTrade is a reliable broker that provides exceptional speed, functionality, and profitability. 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.
- The setup itself is tried and true and is one of the most common ways for brokers to structure their accounts.
- With the collaboration of multiple security partners, EvenInsight provides the detailed evolution of each website which empowers users to identify potential scams.
- 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.
- That being said, they are very new at the time of this review, so there is time for improvement.
- Each account type comes with its own set of perks, with the higher account types offering the best perks and benefits.
- At a glance, it seems amazing platform and opportunity to earn trading profit with LexaTrade experts.
thoughts on “Is LexaTrade a Scam? Honest Review 2023”
The data contained in this website may not be real-time and accurate. 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. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose.
LexaTrade Review: Fees, Commission & Spreads
Lexatrade offers the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. These platforms are popular among traders due to their advanced features, which are defined below. Given the abundance of warning signs, potential investors are advised to avoid LexaTrade.
The case with its funding is much of the same, as there are lexatrade reviews some things that look good. For starters, there’s the fact that the cheapest account doesn’t require a huge deposit. 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.
