Even i have raised my concerns in their portals but no actions were taken. We know that the Financial Service Authority (FSA) is the one that controls non-bank entities that provide financial services locally and internationally. Only SwissOne Group Ltd (which is based in Belize) owns a license from the IFMRRC.
- LexaTrade offers a variety of trading platforms according to the trader’s needs.
- In our Lexatrade review, we’ll look at how beneficial it is for customers compared to other options.
- MT4 is one the world’s most famous and reliable trading platforms for Forex.
- This enables safe trading using modern technologies and does not require downloading and installing platform software.
More so, the broker is a legit broker as it is duly regulated. 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.
Vault Markets
So there’s the argument that some regulation is better than none, and that does hold up. But there’s also the fact that while it’s better than nothing, it’s not a significant improvement. So the regulation may impose negligible limits on the broker while generating a false sense of confidence for potential customers.
A deposit match isn’t inherently a bad thing, but it’s commonly used by malicious brokerages. That’s especially true if the bonus goes as high as it does at lexatrade.com. It is divided into webinars, trading courses, and a reviewer/questionnaire. These materials gear towards beginning traders who are still in the process of acquiring decent knowledge about trading.
Unreliable Trader
LexaTrade imposes high-grade security measures across all its services. It ensures clients’ protection from cyber theft and market risks because they are very common in trading. Clients have also praised its safety and convenience, among all other qualities.
This is to provide the necessary time for necessary transaction procedures. There is no fee to open an account and the fees for deposits and withdrawals are not specified anywhere on the website. There is no mention of an inactivity fee but we cannot guarantee that you won’t be charged one.
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. Along with the broker’s regulatory background, this broker review will also rundown key advantages and features of LexaTrade.
As such, we can’t hold the deposit requirement for MT4 against the broker too much. But as we said, we don’t like paywalls for core features as a practice, although you may not mind them at all. As you progress through the accounts, the bonus we mentioned earlier in our Lexatrade review grows. Similar bonuses often have thick strings attached, so be sure to read the terms if you intend to invest.
Timeframe
Just like any broker, LexaTrade flaunts a set of advantages to fish investors in the sea of online financial investment. Below are the most salient benefits LexaTrade offers to its users. Holding its business operations in Saint Vincent and the Grenadines, many traders doubt the legitimacy of the broker, let alone Lexatrade’s regulatory credential.
Clicking on the link to discover more takes us to a sign up page where the broker requires us to create a trading account. “If, in general terms, the company works honestly, and I would not say that there are some illegal actions. And that’s without mentioning our hunch that the broker isn’t entirely honest.
It also includes the date when the forecasted value is expected to happen so traders can prepare. One of the most popular bonuses it offers is the Refer a Friend program. When an existing client successfully gets another trader to sign up to LexaTrade, clients are awarded up to 50% of the deposited amount of the https://cryptolisting.org/ new client. Any existing trader can sign up to participate in the program and receive incredible bonuses. Deposits are processed immediately, ensuring that you have access to your funds whenever you need them for trading. However, withdrawals may take a bit longer, usually about 3-5 business days to process.
If, in general terms, the company works honestly, I would not say that there are some illegal actions. It is unnecessary to wait for some news, and the market is moving unpredictably. Now we will give reviews that can be found upon organic search of LexaTrade reviews. The readers are only given an idea of what the online trading community thinks of a LexaTrade broker.
It’s important to carefully consider options before making any investments, and LexaTrade is a trusted broker that can help you navigate this process. LexaTrade offers a variety of trading platforms according to the trader’s needs. The enhanced account offering helps traders to trade efficiently and thus improves their trading game. The broker is regulated, but not efficiently by a tier 1 regulation, so clients should be careful while investing with the broker. Even Though the regulation of brokers is not refined, the reviews of the broker online are satisfactory.
Am only happy because I found help after reporting to a recovery firm and they helped me recover all I lost to these fake crypto platform. My advice is that everyone need to be careful of the platform you deal with. If you have falling victim of these fake platform do not hesitate to file a complaint to Marketeace.
The minimum deposit is $250 and the available methods are Visa, CryptoWallet and e-Payouts; the processing time is not specified. Information about withdrawals is missing and this should be addressed how genuine is lexatrade by LexaTrade. All we could find is that withdrawal processing takes up to 24 business hours and that a representative will contact the client in order to complete the processing of the withdrawal.