And that’s without mentioning our hunch that the broker isn’t entirely honest. Altogether, it’s just a middle-of-the-pack broker, and there are a ton of similar companies out there. It doesn’t do anything to stand out, and the vast majority of traders can easily find an option that’s both more comfortable and more powerful. Furthermore, while there are some solid conditions, they all come with high price points. And if you’re already depositing that much, there are many brokers that do what Lexatrade does but better.
LexaTrade has gained recognition as a reputable multi-asset broker by providing quality services and financial instruments to its clients. Knowing which markets and assets you can trade is an integral part of choosing a broker. Some brokerage firms offer more assets than others, and that’s what makes them the preferred choice by traders.
- This enables safe trading using modern technologies and does not require downloading and installing platform software.
- The website is translated in 6 languages, the platform is relatively easy to use and offers all the features needed by an average trader.
- Other negative reviews listed on TrustPilot also detailed circumstances that unfortunately happen in markets but do not fall under broker’s control.
- The trading industry is a tight, competitive area where brokers fight against one another.
- The same goes for visuals, as the various elements are glaringly mismatched.
- TrustPilot, one of the most reliable reviewers on the web, rates LexaTrade 4 out of 5 stars.
These statements have no legitimate grounds and are clearly libelous. It does not provide any evidence that he was scammed by LexaTrade, or any idea of problems that Urbanek has encountered with the broker, hinting at the probability of reviews illegitimacy. 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. Reviews like “LexaTrade cheating” or “LexaTrade scammer” are nothing short of slander that only benefit the competitor. Even legitimate clients cannot benefit from false claims as it gives them a distorted view of a broker’s reputation.
LexaTrade Review – Pros, Cons and Verdict
Below are only some of the LexaTrade broker reviews written by legitimate clients on the website of TrustPilot. The LexaTrade forex broker ensures their clients the best trading experience, offering various benefits and bonuses throughout the year. But most importantly, these benefits are immediately laid out for new clients. While there are also legitimate negative reviews about other brokers, it is important to discern which ones are legitimate and are coming from actual clients. The trading industry is a tight, competitive area where brokers fight against one another.
This time, we will feature some of the feedback and reviews of current LexaTrade clients to give us some first-hand experiences with the broker and how they feel toward their service provider. Holding its business operations in Saint Vincent and the Grenadines, many traders doubt the legitimacy of the broker, let alone Lexatrade’s regulatory credential. This is because there are many traders online claiming to have been scammed by LexaTrade. Despite limited information available on the LexaTrade website, other Lexatrade broker reviews will tell you that the broker is under the Maxi Markets group. However, LexaTrade forex broker’s official site claims that the brand is owned and operated by Swissone Group Ltd.
If the forex market is volatile, the commodities markets go through even higher levels of volatility, which means trades must be carefully decided upon. LexaTrade’s live support team is also available to help any client with it. Trading with LexaTrade lets you invest in globally-traded assets like U.S. oil, Brent, and spot gold. 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.
From the business
The minimum deposit at LexaTrade is $250m whereas its competitors offer account opening at $0. Payment can be made in three days – using the lender’s debit card, electronic services, or bank transfers. The method of depositing funds for the first deposit determines the options for the subsequent withdrawal of money. As on other sites, bank transfers arrive on accounts lexatrade.com site faster than when withdrawing to a card.
Overviewing LexaTrade Accounts
These materials gear towards beginning traders who are still in the process of acquiring decent knowledge about trading. On the other hand, reviewers and questionnaires are designed for beginners and professionals to refresh their acquired knowledge and ensure that they don’t forget anything. All materials are available after registration, so you can ensure that reviews like “LexaTrade courses scam” are not true. LexaTrade forex broker will give you a 70% welcome bonus and medium priority for withdrawals if you choose a gold account. LexaTrade is a multi-asset broker whose wide range of services and financial instruments established its reputation.
LexaTrade vs InvestFW
It is a trading brand of Swissone Group Ltd. based in Saint Vincent and Grenadines. It must be stressed that all LexaTrade reviews above were taken from existing, legitimate review sites. We listed lots of them not to confuse traders but to give a weighted and fair viewpoint on the brokerage. As this is the how old is lexatrade case, the traders are advised to take all claims quoted here with a grain of salt. Despite all reviews, it is strongly recommended to make decisions and build a strategy independently. Collaboration of LexaTtrade with social networks proves that the company is reliable and tries to save trader’s money.
The phrase you could lose more money than you began with is embedded in every risk disclaimer, and every trader should be aware of this before trading. A client losing his funds from trading due to market circumstances is not a legitimate grounds to blame — LexaTrade cheating. XCritical is a convenient alternative to desktop and web platforms. Its portability allows clients to trade anytime and anywhere without hassle.
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. The trader can contact LexaTrade customer care to recover https://cryptolisting.org/ their money. If this doesn’t work, traders can raise a complaint to IFMRRC, the regulatory watchdog of LexaTrade. The platform allows traders to access all popular commodities worldwide. However, much information regarding the same is unavailable on its website.
Our mission is to assist millions of traders in finding the best broker. We unbiasedly review every broker and rank them based on their market standing, regulation, and other factors. Reviews are updated regularly to ensure that every trader has the most up-to-date information before making a choice. However, it is an offshore broker restricted to operating in the US and Europe. The company charges a service charge of 5% if users make less than 5 independent transactions. LexaTrade customer support is very impressive as it offers full-time support with 24/7 operating hours.
Lexatrade offers full-time support with 24/7 operating hours. That, along with the multiple phone lines, makes the broker easy to reach. The representatives are adept at problem-solving, so the overall communication flow is great. However, better options are present online, and it’s easy for most traders to switch.
It’s by no means a strict scam, and in fact, it’s safer than the average broker, but you still need to tread carefully. Reading this LexaTrade review permits interested traders and companies with the brokerage to gain a perspective of LexaTrade. If it had not been made clear yet, believing the tags such as “LexaTrade courses scam” and “LexaTrade cheating” is simply oversimplifying one’s understanding of how brokering works. It is possible that LexaTrade had been misunderstood and misrepresented in new media. I have been trading on the market for five years, of which almost two years on LexaTrade. If, in general terms, the company works honestly, I would not say that there are some illegal actions.