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Although we found some very useful aspects of the LexaTrade platform that would be useful to some traders. Overall our feeling is that you would be better served with an alternative LexaTrade broker. To start the process of opening an account with LexaTrade you can visit the LexaTrade trading platform here. The LexaTrade platform allows traders to filter the lexatrade scam financial marketplace for trade opportunities that match a criteria. Brokers may have certain trading activity requirements that under the terms and conditions of the accounts, clients may have to fulfill. Try creating two accounts when you are working with LexaTrade. One is the real account, with your real money and the other is your demo account.
- In addition, LexaTrade has no limit for stop-loss and take-profit brands.
- So the broker offers for trading the terminal Metatrader 4, tested by millions of traders, securing the stable trade, which got positive references from the company customers.
- A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank.
- And it usually takes about one business day to process the payment.
- Good broker for intraday trader, cheap transaction cost, fast CS and Finance Dept services.
- The quality service issue is of great importance for the company.
Namely, they went with MetaTrader4, the most popular and widely-used platform in the brokerage world. MT4 earned that spot for a reason, with its easy-to-navigate interface allowing novices to jump into trading instantly. However, experts aren’t left out either, as the analytical tools MT4 provides can help you no matter your skill level.
Trading Tutorial: How Does Forex And Cfd Trading Work?
While this broker clearly cares about the education of its traders, it should focus less on quantity and more on quality. Social trading via Myfxbook carries an unacceptable mark-up on spreads. The safe terminal, gainful bonuses, quality analytics, training option – all this also describes broker the broker in a positive way. The company has negative references, too, not that much though, besides there is a broker’s agent working on forums. It is to be hoped that the company plans to attend to customers references and enhance its service keeping the pace of its successful start.
LexaTrade Europe holds a CySEC license, while the ltd branch is under the Financial Service Authority . The Asian and South African sections work under the Labuan FSA and FSCA, respectively. At LexaTrade, you can trade only CFDs on forex, stock indices, commodities, and German government bonds with 85 instruments in total. Popular asset classes, such as stocks, ETFs, mutual funds, bonds and forex brokers options are missing. LexaTrade is a Forex broker established in 2015 in Seychelles. The broker brings together a team of professional traders whose experience in this field has started off back in the 80s, therefore, the new clients of LexaTrade are already in good hands. LexaTrade is a trading name of Tmill UK Limited, which is licensed and regulated by the Financial Conduct Authority .
What Funding Methods Do LexaTrade Accept?
LexaTrade are regulated by the Financial Conduct Authority . This means LexaTrade fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or lexatrade broker reviews at best play an arbitration role in case of bigger disputes. LexaTrade has a reasonable sized customer support of at least 10. We tested the LexaTrade live chat and it works well.
That said, please note that you can lose funds when trading in financial assets. Accounts can lose money due to either not putting enough effort into researching the markets, lack of experience or not using the tools provided by the brokerage platform.
My tests and experiences have shown that the payouts are very fast and the money is sent on the journey within 24 hours. You will receive a confirmation email after payment when the payout has been made. ➔ Read the full comparison of the LexaTrade trading accounts. As described above, the fees are sensationally low.
Trading Risk Disclaimer
Securities Dealer by Seychelles’ FSA regulates LexaTrade UK Ltd, which means that the client’s funds are given utmost protection and are stored in a separate bank account. LexaTrade has tied up with tier-1 banks for this facility.
It is not really structured, so finding the relevant news is not easy. When you click on a headline, it shows only a link to investing.com. On the negative side, the design is outdated and some features are hard to use. For example, it was hard to figure out how to remove an indicator from the chart. We also liked the Autochartist tool, which gives trading ideas based on recognized chart patterns. LexaTrade has a handful ‘experts’ who publish daily blog-like posts that explain and comment on market events. These short posts often showcase a chart and present trading opportunities.
They stocked all my trading capital and deprived me access into my account for over two months now after I’ve invested $70, 000 with them. Thought I was not gonna see this day, but as God may have it, today I’ve got back all my money for real with the help of professional. Deposits and withdrawals are very easy to handle and are totally hassle-free. LexaTrade utilizes the services of the most credible payment channels in the processing of your funds and includes Dotpay, Neteller, Visa and MasterCard, and Bankwire among others. No commissions are charged at all in either transactions and processing time ranges from a matter of seconds to being instant.
LexaTrade offers $30 Welcome Account bonus which is a no deposit bonus. It is available to new client with account under LexaTrade Ltd.
LexaTrade is primarily a Forex broker, as evident in its asset selection. With 62 currency pairs available, currency traders have elevated exposure to their core market. Those seeking proper cross-asset diversification may be disappointed; the asset selection at Swing trading this broker is comprised of nine index CFDs, three commodities, and four bond CFDs. The absence of cryptocurrencies is the most evident missing asset class, but we have hopes that it may be added sometime in the future to round out this broker’s offerings.
Trading Platform
One of the most helpful things that the brokerage firm does is to offer new clients with ademo account which is free of any risk. Apart from the complete access to the MT4 platform, the demo account also provides you with all the assets that can be traded. Apart from that, the demo account also shows the real-life volatility as well as prices to help you to get acquainted with the market.
Many smaller brokers with no license and experience sometimes handle money incorrectly. In order to avoid such fraud, one should pay attention to certain criteria in broker selection. LexaTrade offers the LexaTrade Advanced Trading Toolkit as a free add-on for all clients using the MetaTrader platforms. Among others, it includes a customizable mini-terminal, an app to manage your news feed, a sentiment analysis tool and a chart indicator pack. As LexaTrade mainly offers forex trading, it focuses on macroeconomic data rather than company fundamental data.
LexaTrade Classic Account:
This broker allows all trading strategies, including scalping. The account opening procedure is simple and streamlined. One of the two eBooks offered is largely promotional and lacks educational value. The MT4 multi-account terminal supports entry-level account management. Despite trader-favored equity CFDs and oil, diversification opportunities are limited. A request to settle a debt, taxes or other amount owing and to send money via courier, prepaid bank card or gift card.
If they violate any regulatory rules their regulated status can be stripped. We spent over 3 months examining LexaTrade in depth.
The whole notion of regulation is to protect LexaTrade traders and provide a safe trading environment. Financial regulation and license approval is essential. When i trade with this company i noticed there are clear differences between their demo account and Live one this mean even if you try use safest profitable EA you will lose your money ….
CFDs are also available for commodities, government bonds, or stock indices. Individual shares cannot be traded on this broker, so here’s a small smear in the rating that must be made. LexaTrade insures client funds separately from corporate funds to manage. For this purpose, the Barclays Bank is used, which operates internationally and is always liquid. In addition, client funds will be protected in the unlikely event of a bankruptcy or financial dilemma of LexaTrade with the Financial Services Compensation Scheme of up to £ 85,000. This is a very high value compared to other brokers, which usually have no deposit guarantee or a smaller one.
