Information about withdrawals is missing and this should be addressed by LexaTrade. The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client. Given the abundance of warning signs, potential investors are advised to avoid LexaTrade. Numerous reports indicate that this platform may be a scam, with serious issues related to funds accessibility, aggressive tactics, and regulatory opacity. For those looking to enter the trading market, many reputable and transparent platforms offer safer and more secure services. LexaTrade claims to be an online brokerage offering access to various financial instruments such as forex, indices, and commodities.
I lost so much and was really…
That being said, caution should be used anytime money is involved, with all brokers, old or new. While some reviews online may portray LexaTrade in a positive light, it’s crucial to be cautious. Unregulated brokers often manipulate online reviews to appear legitimate. Brokers required various licenses and regulators’ approval to serve investors and traders.
LexaTrade claims spreads of 2.5 pips on EUR/USD for basic accounts, significantly higher than the industry average (1.0 – 1.5 pips). However, considering their overall unreliability, focusing on spreads becomes irrelevant. If you have lost money to companies like BiTDTCC, or Bitsoft 360; please report it to us on our report a scam form. EvenInsight.com is a venture of Even Insight Technology and a website for cyber security and analysis. With the collaboration of multiple security partners, EvenInsight provides the detailed evolution of each website which empowers users to identify potential scams.
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It is registered in Saint Vincent and the Grenadines which makes no sense. At a glance, it seems amazing platform and opportunity to earn trading profit with LexaTrade experts. Within a few years of its establishment, LexaTrade expanded its services to different countries around the world. Offering incentives for reviews or asking for them selectively can bias the TrustScore, which goes against our guidelines.
Lexatrade offers personal account managers to its users and they help in trading. LexaTrade began by managing cash transactions in real-time trading using PAMM accounts. Over time, it has grown and developed advanced trading solutions and a variety of financial instruments, becoming a well-known online brokerage brand. The only extra worth mentioning is the Autochartist which is available right on the trading platform and is free of charge. It offers signals and pattern recognition and is generally regarded as a reliable tool but of course there are no guarantees that it will be profitable.
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Reviews and reports from users suggest issues that point to LexaTrade being a potential scam, primarily due to limited regulatory transparency, suspicious practices, and challenges in withdrawing funds. In this review, we’ll examine why users should exercise extreme caution if considering LexaTrade. Live chat support was available at the time of our visit but a bit slow to answer. The minimum deposit is $250 and the available methods are Visa, CryptoWallet and e-Payouts; the processing time is not specified.
- Claim your profile to access Trustpilot’s free business tools and connect with customers.
- There is no mention of an inactivity fee but we cannot guarantee that you won’t be charged one.
- Several red flags have emerged from user experiences that cast doubt on LexaTrade’s legitimacy, making it essential to understand these warning signs before investing any money.
- The broker doesn’t hide the fact that it’s trying to goad you into depositing more.
Editor’s Note: Why LexaTrade Doesn’t Suck in 50 Words
While the platform appears well-structured on the surface, a closer examination reveals troubling details. LexaTrade is a financial trading platform that offers a range of financial is lexatrade legit instruments for traders to choose from, including contracts for difference (CFDs), foreign exchange (FX), and cryptocurrencies. In conclusion, while the promise of easy trading may be tempting, LexaTrade is fraught with risks that make it unsuitable for investors who prioritize security and legitimacy. 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. William Pewitt is an experienced forex broker reviewer, dedicated to helping traders navigate the complex world of currency exchange.
With over 170 trading instruments, various tools, and timely risk management features, the platform ensures a high-quality trading experience overall. The charges are higher compared to the platform we have reviewed so far. The spreads vary on the account type and the instrument traders trade in. Moving forward with this LexaTrade review, we will further discuss the platform’s fees, platforms and account types. If you’ve been following our Lexatrade review, you’ve likely noticed that the broker takes a step forward and a step back. The case with its funding is much of the same, as there are some things that look good.
MT4 is one the world’s most famous and reliable trading platforms for Forex. The user-friendly UI of the platform helps both beginner and professional alike. These patterns align with other known scams in the financial sector, where similar methods are used to extract and retain funds from investors without delivering on the advertised services. LexaTrade advertises several account types, from basic to VIP, each with distinct perks. With the surge of online trading platforms, the potential for scams has also grown, and LexaTrade has emerged as a broker raising serious concerns.