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. On the other hand, trading tools and research materials are all important helpers in assessing positions and executing trades.
It displays high functionality, great customer service, convenience, availability, and dedication to clients. It improves its services based on what its clients ask for to work on the market, and this has earned the trust of traders everywhere. LexaTrade offers a competitive range of trading instruments and features, making it a suitable choice for both beginner and experienced traders. The platform’s user-friendly design, multiple account options, and access to popular trading platforms such as WebTrader and MT4 make it an attractive option.
While some users praise the educational tools and platform usability, these positive experiences are overshadowed by the negative feedback. While the broker claims to offer reliable support, user feedback often highlights delayed responses and unhelpful interactions, particularly for withdrawal-related issues. The first LexaTrade review is found on TrustPilot’s page and the other one is written on LexaTrade’s Facebook page. Both statements did not detail Urbanek’s issues with the broker, and only proceeded to create false statements about it.
The MT4 performs as a classic choice in trading currencies and CFDs because of its user-friendly interface, speed of execution, and high-grade terminal work. LexaTrade’s offering of the MT4 comes in a web version and it is compatible with any browser. Platform includes a customization feature that comes with listing charts and shifting time ranges. It is definitely more expensive than the Silver Account, but quality always comes with a price. For starters, LexaTrade has a “Refer a Friend” program, which allows an existing client to benefit from sharing the services of LexaTrade to friends and fellow traders. A program entails any existing client receiving 50% of the deposited amount of any new trader they’ve successfully encouraged to sign up with LexaTrade.
- 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 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.
- LexaTrade customer support is very impressive as it offers full-time support with 24/7 operating hours.
- The broker only accepts one method in deposit and withdrawal processes to prevent theft.
Account Types
Unregulated entities can potentially abscond with your money without being held accountable. 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. That being said, caution should be used anytime money is involved, with all brokers, old or new. MT4 is the platform of choice for professional traders, while the proprietary platform caters more to beginners. However, the proprietary platform’s lack of sophistication may not satisfy advanced users.
But browsing the broker’s official site, LexaTrade asserted the legality of its business operation and its regulatory compliance with the International Financial Market Relations Regulation Center (IFMRRC). Every broker has received negative feedback from customers, critics, and even the general trading industry was accused of cheating. It is a common thing in industries where services are the main product of companies. Even the most reliable companies that have graced the top brokers’ list for many years have received negative feedback. When choosing a platform, caution is warranted if the company lacks regulation by any overseeing agency. This should serve as a warning that your funds may not be secure, and there’s no protective regulatory framework.
If you discover yourself in such a predicament, take the subsequent measures to recover your funds:
Aside from Web platform, LexaTrade also offers another powerful XCritical trading platform. The XCritical mobile app has an intuitive and simple interface that easily helps traders navigate the platform. Traders can also easily track the movement of market prices and get timely feeds of current forex forecasts through the functionality of XCritical mobile apps. Since the functions of the platform are separated, traders can also open and close transactions without delay and set Stop Loss and Take Profit quickly. The mobile app also provides brokers with the current account balance to easily check and replenish it when needed. Aside from throwing shades to the broker, some online client reviews also burst out that LexaTrade scammed them by not allowing them to withdraw their funds from their accounts.
LexaTrade is a global online trading platform offering a range of financial instruments, including forex, commodities, indices, cryptocurrencies, and stocks. It aims to attract traders with promises of high leverage, multiple account types, and extensive educational resources. However, LexaTrade has been the subject of mixed reviews due to concerns about its regulatory status and business practices. LexaTrade is an online broker that provides access to global financial markets, allowing traders to speculate on a wide range of assets, including forex pairs, commodities, stocks, indices, and cryptocurrencies. LexaTrade markets itself as a user-friendly platform designed for both beginners and experienced traders. The platform also offers different account types, each catering to various levels of trading experience.
Financial Instruments
- Of course, we cannot vouch for the accuracy of the signals but it’s a nice addition.
- Information about withdrawals is missing and this should be addressed by LexaTrade.
- LexaTrade’s offering of the MT4 comes in a web version and it is compatible with any browser.
- Many regulated brokers allow $50 and even $10 as minimum deposits, so maybe you should pick one of those.
- LexaTrade has often been found on the negative side of things when it comes to client reviews.
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 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. On top of these account types, a Demo Account is a good way for novice traders to test the trading environment and platforms of LexaTrade. The account structure is straightforward, but the high minimum deposits for premium accounts is lexatrade regulated may deter small-scale traders. Additionally, spreads on lower-tier accounts are uncompetitive compared to industry standards.
Its mission is to provide traders and investors with maximum security of their transactions on foreign exchange, cryptocurrencies, and stock markets. LexaTrade is a forex broker that offers services in currencies, cryptocurrencies, commodities, stock, and indices trading. It is a brand name of Swissone Group Ltd. registered in Saint Vincent and the Grenadines. Its multi-asset trading services have garnered the trust of its clients and has earned it a spot in the top forex brokers in industry.
Of course, we cannot vouch for the accuracy of the signals but it’s a nice addition. 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.
The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained in the Website. Broker attracted me precisely with this – in all LexaTrade reviews, it is distinguished by reliability and honesty of the company. To round up LexaTrade’s trading serviceability, a broker has a decent platform and trading instrument offerings despite having relatively higher spreads.