These platforms are popular among traders due to their advanced features, which are defined below. Some are legitimate issues and concerns, while others were scammed by LexaTrade — false claims crafted by competing companies. There will always appear negative reviews about every broker, even the most trusted ones. This is a simple fact in the trading industry, where competition can sometimes be cutthroat. Below is an analysis of some negative reviews hurled towards LexaTrade.

Fraude No 1I got call form them give commitmant for giving good profit.i opened ac & deposite $250 money after that 2 to 3 months i haven’t received any call or follow up. But after 3 months i got call & give some call tips and make good profit of around $850. E continue to force me to deposite more but i denied so he opened very huge position so i lost all capital so he tell me that thats why i told you to deposite more.

Also, LexaTrade only partners with trusted international banking institutions when handling their corporate funds. The broker offers a wide range of incentives, welcome bonuses, promotions, etc. New clients are especially showered with welcome bonuses as a means of getting them on board a unique trading experience. LexaTrade is a newly launched, regulated broker that offers CFD trading on currencies, cryptocurrencies, indices, and commodities.

LexaTrade Account Types

  • As per the whois data, the domain Lexatrade.com was registered in September 2018, and according to similar web data it has around 13k monthly traffic from Kenya (60%) and India (26%).
  • The only extra worth mentioning is the Autochartist which is available right on the trading platform and is free of charge.
  • The dropdown menus have vague names, and as such, the categories inside them seem almost arbitrary.
  • And that’s without mentioning our hunch that the broker isn’t entirely honest.
  • Market risks are one of the most important things that any trader must fully understand from the onset.

The remaining few were negative ones with an obvious goal, which is smearing LexaTrade’s reputation. Other negative reviews listed on TrustPilot also detailed circumstances that unfortunately happen in markets but do not fall under broker’s control. Wondering whether Lexatrade scammers or not, let’s analyze its services lexatrade and development level. When it comes to platforms, broker LexaTrade ensures clients enough options to choose from. This is why aside from MetaTrader4 and XCritical, they’ve also developed a platform to embody important qualities and characteristics.

And if you’re already depositing that much, there are many brokers that do what Lexatrade does but better. 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. Lexatrade is new forex and CFDs brokerage that primarily operates in Europe.

After few weeks i got call & said we will recover all you money & for that they give me some credits & with help of that credits my ac agind reach to $1800. But after that they start again force me to deposte $1000 but i said let me give frst my initial capital of $250. I stongly recoonamd everyone to dont waste money with this fraud company. Forex is a trade that has risen in popularity over the last decade. One of the first problems a novice trader faces is choosing a broker.

Great trading service

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.

Broker LexaTrade ensures that its 24-hour client service team provides the best support to traders. Trading in commodities markets subjects you to high volatility, an excellent investment opportunity. You can choose which assets to trade, including the biggest and most popular ones.

LexaTrade web platform

For example, you can invest in U.S. crude oil, Brent oil, spot gold, or silver. We aren’t the biggest fan of the huge jumps between the sums you need for different account types. However, that’s a minor complaint, as what you get for each account is actually pretty fair for the price point.

Real User Experiences and Reports

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. One fact that’s relieving and concerning at the same time is the broker’s choice of the regulator. Although we do daily broker reviews, we’ve never heard of it before.

  • 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.
  • It allows them the greatest reach, as the primary concern with the accounts is budget rather than trading style.
  • The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client.
  • Baseless accusations like these are examples of libelous claims executed by competitors to smear another broker’s reputation.
  • Moreover these personal manager act as LexaTrade affiliates who enforce clients to deposit more on their platform.
  • Moving forward with this LexaTrade review, we will further discuss the platform’s fees, platforms and account types.

LexaTrade official site provides a brief overview of every financial market, prioritizing currencies, commodities, and indices/shares. These are some of the most widely-traded markets by investors worldwide. LexaTrade ensures that their clients have sufficient knowledge about them before they begin trading. LexaTrade forex broker will give you a 70% welcome bonus and medium priority for withdrawals if you choose a gold account.

The phrase you could lose more money than you began with is embedded in every risk disclaimer, and every trader should be aware of this before trading. A client losing his funds from trading due to market circumstances is not a legitimate grounds to blame — LexaTrade cheating. You also have free access to paid webinars, a once-a-week communication with a VIP analyst, full-time stock trading, special offers, and a customized portfolio for the earnings season. This account is especially curated for professional traders trading in four financial markets.

To ensure the security of their clients’ funds, LexaTrade implements strict payment procedures. The client’s depositing method must also be used when withdrawing funds to prevent financial theft. This is also a great security measure against online hackers who transfer client’s funds into their bank accounts and withdraw the money.

LexaTrade has a referral program in which affiliates receive up to 50% of the deposit amount as a bonus. New broker users have the opportunity to get insurance against losses for one trading day. The company compensates the trader for losses ranging from 500 to 5,000 USD. Commodities are viewed as steady, long-term, highly profitable investments. Commodities being long-term investments means that they must be carefully decided.

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. Also keep in mind that the company is regulated (IFMRRC), which is not the fiercest of financial watchdogs, but any type of regulation is better than no regulation at all. That being said, caution should be used anytime money is involved, with all brokers, old or new. Install ScamAdviser on multiple devices, including those of your family and friends, to ensure everyone’s online safety. Additionally, the lack of detailed information about the company’s headquarters and the year of establishment is troubling. Legitimate brokers typically provide such information to build trust with their users.

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. For starters, there’s the fact that the cheapest account doesn’t require a huge deposit. That being said, they are very new at the time of this review, so there is time for improvement.