Lexatrade Forex Broker: User Reviews Collected and Summarized

It requires all the necessary information including name, email, address, and telephone number. 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.

Similar to other brokerage firms, LexaTrade has its own set of benefits and setbacks. Below are some of the perks that clients will surely enjoy. 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.

So, Lexatrade is either not controlled by any institutions at all or has only a token regulation. 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. At a first glance, there are many potential flaws and perks, but you can’t really tell how they play out unless you try this platform for yourself. But then, if you chose poorly, you can lose your money to an untrustworthy broker. It means that if you want to trade small (for your own reasons or if you don’t trust Lexa yet), you’ll be hard-pressed from the beginning.

• Note, however, that the broker asks for different deposits according to which account clients will open.
• And speaking of tighter spreads, they really are low on this platform.
• 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.
• That’s one of the main reasons why there are so many good reviews.
• You’ll have to use their own trading systems and be restricted to only a handful of available products.

The only thing you won’t be able to do unless you sign up for a better account type is the help from analysts. https://forex-reviews.org/ 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. 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.

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. 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 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.

Trading with LexaTrade

Different reviews suggest Lexa is pretty safe – both from hackers and from inner fraud. However, there are several points that indicate that you still shouldn’t trust this broker completely. 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.

Then he learned from a friend working with this company that all this is complete nonsense. As a result, I opened an lexatrade review account there, on which I have been trading for six months. The platform works stably, occurs smoothly and quickly.

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. 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.

Lexatrade Forex Broker: a Critical Review

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. 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. They also give you all the information they can about the way your transfer will go. The support itself is also 24/7 and multilingual, which is a very nice touch, considering they are mostly very restrictive about everything.

You’ll have to use their own trading systems and be restricted to only a handful of available products. Certainly, they don’t only differ based on the amount of money you need to trade. There are certain bonuses and restrictions which you can see by scrolling further down. What you’ll see is that Lexa heavily restricts pretty much everyone below the Gold status. However, this education focus goes beyond simply providing educational material.

LexaTrade Forex Broker

It is equipped with powerful instruments for encompassing and holistic trading experience. Its Customer Service Automation also known as the CRM fully integrates various payment processing systems. With this, users are provided with sophisticated reports.

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. 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 withdrawing speed also suffers – Starts and Silvers will have to wait a lot longer for their transfers to process than users with other statuses. 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. Included in the process is the funding, in which interested parties need to provide the means of funding, and the amount they want to deposit.

Lexatrade Forex Broker: User Reviews

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. 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. Lexatrade has a relatively easy method of registration. 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.

It’s pretty comfortable to work here, barring all the treatment the lower account types have to put up with. Yet still, there are many exchanges and brokers that give you just as comfortable an experience without making you pay extra. It’s not simply about getting less spreads and more monitors on the trading system. The bigger account types have faster withdrawing speed, and they increasingly get to use the help from professional analysts. Another external platform that LexaTrade offers is the xCritical system.

Subscribing to LexaTrade Forex Broker

There are just so many frauds amongst brokers that an honest one, albeit one with poor trading conditions, is somehow very welcome. 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. 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. It allows Lexa to do their own thing without bearing too much responsibility on their shoulders.