We can see that the VIP account has the most competitive spreads. However, better options are present online, and it’s easy for most traders to switch. 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. One fact that’s relieving and concerning at the same time is the broker’s choice of the regulator. And if you’re unfamiliar with what IFMRRC is, we don’t blame you.

• We have created and implemented an online platform for easy and efficient trading.
• Brokers required various licenses and regulators’ approval to serve investors and traders.
• However, that’s a minor complaint, as what you get for each account is actually pretty fair for the price point.
• Although we do daily broker reviews, we’ve never heard of it before.
• The cheapest option is $250 while the most expensive is $100,000.

IFMRRC stands for International Financial Market Relations Regulation Center. It’s a non-commercial organization that regulates about 60 brokerages. However, it’s apparent that it’s much less limiting than even the more lenient country-based regulators. Unfortunately, when a broker looks like it’s a rushed project, it’s often a scam. That isn’t an exact rule, but it’s something we’ve found to be true more often than not. Perhaps we’re being too harsh since if you know what you’re looking for, you’ll find it.

How To Open An LexaTrade Account?

Of course, we cannot vouch for the accuracy of the signals but it’s a nice addition. Overall this is a promising broker but a few tweaks here and there would make it a better one. That being said, they are very new at the time of this review, so there is time for improvement. Even for the higher accounts, the spreads are wider than those from other brokerages that require similar price points. As we said earlier in our Lexatrade review, it offers a competitive trading experience, but it gets overshadowed by better companies. The broker doesn’t hide the fact that it’s trying to goad you into depositing more.

If you’ve been following our detailed Lexatrade review 2023, you have likely noticed the platform has not much to offer to its users. However, zero fees on the trades is still the USP of the platform. The broker has a low user ratings of 2.1, which clearly shows the platform’s low credibility. While looking for the platform on the trustpilot, we went through many complaints, which clearly indicates LexaTrade is a scam.

It allows them the greatest reach, as the primary concern with the accounts is budget rather than trading style. That means the accounts suit most strategies, and as such, can attract diverse groups of traders. Lexatrade has five different account types covering budget and high-end options. The broker uses a tiered account progression where each type requires you to reach a specific threshold. The cheapest option is $250 while the most expensive is $100,000.

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The education centre includes video courses and E-books, while the questionnaire section offers all the questions related to customer’s feedback on the platform. LexaTrade learning is an interactive educational feature that aims to help novice traders to understand and learn about the market. The promotion is applicable for deposit amounts ranging from $500 to $5,000. The insurance covers upto 100% of total loss on all trades opened on the deposit day.

Despite this, it is an off-shore broker restricted to operate in the US and Europe. As per LexaTrade conditions, if the referred client makes a deposit between $500 to $10,000, then 50% of it will be the referral bonus. LexaTrade has a referral program in which affiliates receive up to 50% of the deposit amount as a bonus.

We are committed to the fair handling of reviews and posts regardless of such relations. Please read LexaTrade Reviews below and share your live trading experiences with this broker. For what it’s worth, the internet community is rife with lies and falsified news.

This broker offers a balanced mix of functionality and user-friendliness. 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 broker offers a web-based proprietary platform that lets users experience advanced trading.

Again, as we said earlier in our https://forexhero.info/, the broker doesn’t do anything that sets off alarms. 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. The broker’s offer does actually seem decent enough, but the presentation isn’t up to par.

On the other hand, the majority of traders don’t need Expert Advisors, scripts and the (sometimes) stuffy interface of Meta Trader. Besides, LexaTrade’s Web platform offers all the tools that lexatrade review can turn a skilled trader into a profitable trader. LexaTrade is ambiguous about how deposits and withdrawals work, and we can only get come basic information in the refund policy page.

LexaTrade Product Features

Additionally, the broker is unregulated and has high spread charges. The platform’s features that are worth considering include bonuses, advanced trading platforms and learning programs. The broker offers 5 primary account types, catering to the needs of every sort of trader. The account offering is appreciable but it still lacks at some points. The minimum deposit at LexaTrade is $250, a slightly higher in this competitive world, with many offering accounts opening at $0.

The broker can be reached through multiple channels, including phone line and email. The support team is problem-solving and responds quickly, so the overall communication with the team was great. Hope the above information is enough to know the basics of LexaTarde, account types, its services, fees and referral program. 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.

The minimum withdrawal amount is 50 USD, and if a client withdraws the money without realizing 5 independent transactions, LexaTrade will charge a 5% fee. The broker offers its traders two platforms, as we’ve indicated earlier in our Lexatrade review. And even then, you only get the web version, and you need the $50,000 account for the full unlock. The company charges a service charge of 5% if users make less than 5 independent transactions. 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.

Traders Reviews

But as we said, we don’t like paywalls for core features as a practice, although you may not mind them at all. Cheapest and most expensive aren’t the most precise terms, as there’s no actual cost attached to the account. However, we can’t neglect the fact that $100,000 is a hefty sum and isn’t something anyone can reach.

Modern high-speed trading platform, with simple trading features. Variety of trading tools, automatic signals about profitable deals. Bonus programs, low spreads, 0% commission, multi-language call center. This means that when you open an account with $5,000 dollars, we will add to your account another $1,500 dollars. Trade and invest freely from anywhere on the planet with LexaTrade online platform using the high-tech functionality, speed, and profitability of the terminal.

LexaTrade has over millions of active users, and has global presence with headquarters at Beachmont Business Centre, Suite 39, Kingstown, Saint Vincent and Grenadines. Moving forward with this LexaTrade review, we will further discuss the platform’s fees, platforms and account types. Lexa Trade(owned by Swissone Group Ltd) is a forex broker with trading platforms of xCritical Mobile App, Metatrader 4 (MT4) and proprietary Web Trader. 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 by LexaTrade. 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.

It claims to offer advanced trading tools, increased speed and safety. LexaTrade is a leading brokerage platform that allows global traders to access various financial markets, including Forex, Commodities, Indices and Stocks. However, the broker has a low user rating, with many complaining about the platform while others appraising it. So, to help you out in deciding whether it’s a worthy broker, let’s take an in-depth look at the platform with our detailed LexaTrade review.

The term “Fake News” has been splattered on the online Metropolis for a reason. This people will lure you to come and invest with them after promising you a huge return of interest but will still held your withdrawal at the end. No, it is currently not effectively regulated and you are advised to be aware of its potential risks.

The charges are comparatively higher than the platform we have reviewed so far. The spreads vary on the account type and  instrument you trade in. The platform is relatively new in comparison to some prominent names already dominating the forex industry. However, it quickly garnered popularity among traders, thanks to one-of-a-kind features and the services. Brokers required various licenses and regulators’ approval to serve investors and traders. Lexatrade offers personal account managers to its users and they help in trading.

Each account type comes with its own set of perks, with the higher account types offering the best perks and benefits. The methods for deposit are Visa, CryptoWallet and e-Payouts and we assume the same methods will be used for withdrawals, although LexaTrade doesn’t mention this specifically. LexaTrade provides a detailed spread table where the clients may easily compare and inquire the spreads of different instruments in different platforms.

The broker has a low user rating of 2.1, which clearly shows the platform’s low credibility. While looking for the platform on Trustpilot, we went through many complaints, which indicate LexaTrade is a scam. In order to attract more traders on the platform, LexaTrade often starts promotions. There is not a single complaint regarding the same, so, we can rate it good in this case.