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It should be noted that, although they confine you to the poor conditions when compared to the usual exchanges, they also rarely cheat you. That’s one of the main reasons why there are so many good reviews. The regulars on Lexa will disagree, and it’s their right, they’ve already made some money out of it. However, those who still only contemplate working with them should look elsewhere.
So, unless you deposit at least 3 grand, you’re stuck with the basest of basics of trading. Furthemore, you also get worse treatment than the guys who put more money into their Lexatrade wallets. There are no loud complaints about cheating from Lexa, even though they are always abundant. But if it’s not fraudulent now, it is still domineering, uncomfortable and fishy.
Lexatrade is an interesting choice for a trading platform. They have some very interesting ideas and offers, but it’s also understandable why so many people are pushed away from this broker. While LexaTrade is equipped with impressive advantages, it still faces negative reviews.
Lexatrade Forex Broker: a Critical Review
It requires all the necessary information including name, email, address, and telephone number. If you look at Lexatrade as a provider of services, it doesn’t look all that impressive. The list of assets includes shares, indices, crypto, commodities and foreign currency, and that’s about it. The users who use it claim it’s a very good broker with responsive teams of support and clean reputation. But the wider community tends to disagree – there’s a lot of points that simply can’t help but attract criticism. If you don’t, you’ll be very hard-pressed, and your entire experience here will be pretty lousy.
Most users will probably sign up for the Start account – the lowest-ranking one – without the second thought. However, you should really pay attention to what they offer you. And speaking of tighter spreads, they really are low on this platform.
While we cannot fully dismiss the possible fraudulent activities, we also have to take into account their reliability and if these claims have substantial bases. To neutralize the backlash that LexaTrade faces, attached below are two positive reviews taken from the web. They have their own Web trading system, as well as a trading lexatrade review app. Many brokers have their own in-built exchanges and interfaces – they generally look neat and better correspond with the environment on the exchange. If you can tolerate this uncomfortable state of things, then you may find that Lexatrade is actually pretty decent when it comes to trading and dealing with users.
lexatrade customer care number
I learned about the company much earlier, but I came across a network about the negative about it. I read in the comments on one forum the information that «LexaTrade fraud», fraud, etc. Then he learned from a friend working with this company that all this is complete nonsense. As a result, I opened an account there, on which I have been trading for six months. Interested parties need to visit the broker’s official site and from there, they will immediately find the registration button. After clicking, it will be redirected to a form, which needs to be completed.
The withdrawing speed also suffers – Starts and Silvers will have to wait a lot longer for their transfers to process than users with other statuses. However, this education focus goes beyond simply providing educational material. Lexa gives you extensive information about what you can or can’t do with different types of account, as well as a full sheet of fixed low spreads for all occasions. However, they also rarely forbid the majority of their users from using other software if they feel like it. Nevertheless, it’s strictly stated that you can’t use MT4 (and it’s the only third-party piece of trading software you can use) unless you pay Lexa more. Different reviews suggest Lexa is pretty safe – both from hackers and from inner fraud.
Fortunately, client support is still available for everyone on the platform, regardless of their status. So, if you have a question or a problem, you can contact the support and they’ll most likely help. The only thing you won’t be able to do unless you sign up for a better account type is the help from analysts. There are also indices, stock and commodities, but you’ll have to unlock them first. This restrictive policy is extended to other things also – the better parts of the broker are reserved for the more well-off customers.
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The MT4 is known for its optimum performance, allowing users to place trades simultaneously and conduct analyses in an efficient manner. More so, it grants access to live market prices and liquidity, all while enabling robust security and stability. The most interesting about this platform is its automated trading option, completely providing high efficacy and larger margin of profitability for its traders. Lexatrade is registered on the New Grenadines – a very popular off-shore location, especially for brokers. Being registered in the tax-free location also means your company won’t be regulated by the trusted financial establishments.
- With this, users are provided with sophisticated reports.
- To neutralize the backlash that LexaTrade faces, attached below are two positive reviews taken from the web.
- It is equipped with powerful instruments for encompassing and holistic trading experience.
Lastly, it charges daunting fees including a 5% commission from clients with less than 5 transactions. Its ultimatum for those inactive clients also came as a disadvantage as it charges 5% every month. LexaTrade is a financial solutions platform developed by Swissone Group Ltd. Its head office is located in St. Vincent and the Grenadines, a small island in the Caribbean known for its offshore status. With the absence of financial authorities, clients’ funds are exposed to intensive risk, say, for example, LexaTrade decided to shut down its business.
Subscribing to LexaTrade Forex Broker
So, Lexatrade is either not controlled by any institutions at all or has only a token regulation. So, Lexatrade is a minor Forex broker with a moderate amount of regular users. In terms of practical trading https://forex-review.net/ experience, Lexatrade doesn’t have too many bad sides – it’s just a regular broker with several types of products ready for trading. “I have been working with this LexaTrade broker for six months now.
This may be from the company’s financial malpractice or maybe from competitors’ interest to drag LexaTrade down. Regardless, we still have to consider the legal documentation presented in its official site. With license from IFMRRC, clients are ensured that all operations are legally binding and conducted under legitimate terms. As for the disadvantages it carries, its reputation is tainted mainly from the absence of tight regulatory oversight. In addition to this, clients’ queries are given resolution in an untimely manner, which only adds to reasons why it has been receiving negative feedback from its clients.
The impartial user reviews from the dedicated aggregators can tell you precisely what to watch out for and what to aim for on any exchange.
They also give you all the information they can about the way your transfer will go. Note that some of them are fairly high, but that’s precisely why there is such a detailed sheet – so you wouldn’t get caught unawares. And even this is very well done, and the local financial specialists are truly helpful most of the time.
