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. As the platform is not worth considering, I was looking for the best alternative, and after researching for days, the most recommended broker I found was InvestFw.
- It’s essential to recognize that, albeit rarely, minor fluctuations may arise.
- If the broker doesn’t hold any license, then there must be a risk of scam.
- A web-based proprietary platform that lets traders experience advanced trading.
- While looking for the platform on Trustpilot, we went through many complaints, which indicate LexaTrade is a scam.
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.
A deposit match isn’t inherently a bad thing, but it’s commonly used by malicious brokerages. A web-based proprietary platform is offered by LexaTrade, such as MetaTrader4 and LexaTrade
app – xCritical Mobile App. While the platform offers a considerable service, we still advise to choose among legit brokers like InvestFw. 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.
Perhaps we’re being too harsh since if you know what you’re looking for, you’ll find it. We wouldn’t be surprised if entry-level traders couldn’t find their way around and simply decided to use another brokerage. LexaTrade learning is an interactive educational feature that aims to help novice traders to understand and learn about the market. Our in-depth and unbiased reviews help investors in choosing the best broker according to their investing needs. Thus, LexaTrade guides investors before they start investing through their educational resources.
On the other hand, if you are confident in your abilities and $250 is not a lot for you, then LexaTrade may be a good choice. That being said, caution should be used anytime money is involved, with all brokers, old or new. XCritical’s trading platform quickly gained popularity thanks to its innovative features that expanded our traders’ capabilities. However, better options are present online, and it’s easy for most traders to switch.
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. LexaTrade is a reliable broker that provides exceptional speed, functionality, and profitability.
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The broker offers 5 primary account types, catering to the needs of every sort of trader. The minimum deposit at LexaTrade is $250m whereas its competitors offer account opening at $0. LexaTrade’s MT4 web terminal is a highly secure and reliable trading platform, incorporating advanced technology and offering a seamless trading experience. It is compatible with all major web browsers and enables traders to execute various types of transactions.
It opened just earlier this year and has attracted a good bit of attention as such. In our Lexatrade review, we’ll look at how beneficial it is for customers compared to other options. Yes, the broker offers trading services across the globe with a focus on countries like India, South Africa and most of Asian countries. 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.
They offer appealing returns that may look promising and attractive and make you invest in that plan. Of course, the broker has options for downloadable https://cryptolisting.org/blog/double-entry-accounting-accountingtools terminals, web platforms, and mobile apps. Again, as we said earlier in our Lexatrade review, the broker doesn’t do anything that sets off alarms.
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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. The platform allows traders to access all popular commodities worldwide. However, much information regarding the same is unavailable on its website. Yes, LexaTrade is a scam broker as it is not regulated by any top tier regulatory watchdog. However, it holds a licence from the International Financial Market Relations Regulation Center.
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However, we can’t neglect the fact that $100,000 is a hefty sum and isn’t something anyone can reach. However, it is an offshore broker restricted to operating in the US and Europe. The platform supports bank wire, credit /debit cards, Skrill, Neteller and OrangePay for both deposits and withdrawals. The broker set up strict payment procedures for the safety of the trader’s funds and to prevent financial theft.
It doesn’t do anything to stand out, and the vast majority of traders can easily find an option that’s both more comfortable and more powerful. LexaTrade customer support is very impressive as it offers full-time support with 24/7 operating hours. 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.