The users get access to competitive spreads and over-night swap charges. Growing slow and steady is often the soundest advice you can adhere to while keeping the trading excitement under check and thereby, having a rewarding trading experience. Along with other benefits, the users also get a good variety of trading, analysis, and research tools that can take their trading to the next level. Our research brought forward that the average connection time a phone takes to connect a user to LexaTrade is less than 1 minute. Users who have opened accounts with this broker get protection for their funds through the Investor Compensation Fund and Financial Services Compensation Scheme . Driving license, passport, national ID, a utility bill, or bank statement are accepted as proof of address.
- Inactivity fees are not specific to online trading accounts.
- Autochartist complements the analytics provided by LexaTrade’s experts.
- In the tale we compare Standard spread conditions, while Pro accounts are based on a commission of 2 per side and interbank spreads from 0 pips.
- The platform is available for the browser , desktop , Android , and iOS .
- LexaTrade also provides educational tutorials for beginners.
- Finally, VPS hosting is available at LexaTrade and is useful for algorithmic traders using MT4.
In summary, LexaTrade account types offer a great opportunity for every trader. The terms are very good and much better than other forex brokers. No matter if you want to trade the markets with small or big capital, LexaTrade is the right decision for beginners or advanced traders. The quality service issue is of great importance for the company. So the broker offers for trading the terminal Metatrader 4, tested by millions of traders, securing the stable trade, which got positive references from the company customers. Among the advantages of the broker are provision of trading tools, services, bonuses, professional technical support, this is to say about the well considered strategy of cooperation with the customer. Trading on the financial markets with LexaTrade is not a get rich scheme.
To start trading, the user needs to upload a colour copy of the identification documents and the proof of address documents. Traders might sometimes have a negative lexatrade scammers balance, or they might have built up debt because of the extreme market volatility. Trading conditions, therefore, need to be balanced accordingly.
In My 16 Years Trading This Has
There are no commissions for CFDs trading for major stock indices, futures, and bonds. Further, commissions for VIP and Pro accounts are highly affordable, assuming that spreads for these accounts can start with as minimum as 0.0 pips. The demo account is a primary step to look out for while deciding on a brokerage firm to trade with. One must always opt for a brokerage firm that offers a demo account as it helps you get used to the working of this firm. In the case of LexaTrade, we found out that the company offers a demo account to its clients. However, these demo accounts are deactivated by the firm if it notices 7 days of inactivity. This is the second red flag of this review for LexaTrade.
Get streaming real-time information on the LexaTrade platform including news and quotes. Discover possible trades with the strong charting tools found with LexaTrade.
LexaTrade Minimum Deposit
LexaTrade offer CFD which are a leveraged product for this example we describe ten times leverage. As with most brokers, margin requirements do vary depending on the instruments. All available LexaTrade payment methods available to you can be found in your LexaTrade members area checked on forex the LexaTrade website. Please note that the list of LexaTrade payment methods belowdepend on the LexaTrade Entity and the Clients Country of Residence. LexaTrade also offer mobile apps, for Android and iOS making it easier to keep an eye on and execute your trades while you’re on the move.
We have seen cases where individuals were able to recover their lost funds, but these situations are rare. We put together a list of methods that people have used to get there money back . One thing is for sure, if a recovery company or any individual tells you that they can recover your funds for an upfront fee, BE AWARE, that is most likely a scammer trying to scam you again. Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice.
Trading Risk Disclaimer
Below we give an overview on the account types that LexaTrade offer. Whatever you are looking to trade the varying LexaTrade account types will be able to provide you with what you need. If you are looking for Forex brokers to trade currency pairs on global Forex markets LexaTrade offer over currency pairs. This is because each brokerage firm will have different withdrawal methods and each payment provider may have differing transfer processing fees, processing times and a potential currency conversion fee. The Conversion fee is dependant on your base currency, your recieving currency, your payment provider.
Many smaller brokers with no license and experience sometimes handle money incorrectly. In order to avoid such fraud, one should pay attention to certain criteria in broker selection. TheForex broker LexaTradeis a startup, rapidly growing company with all chances for the leadership among its competitors. Due to DMA, NDD, ECN and STP technologies traders get the direct access to the best liquidity suppliers with favorable prices (Commerzbank, HSBC, Credit Suisse, JPMorgan, BNP Paribas etc.). With Negative balance protection means traders cannot lose more money than they have deposited. LexaTrade offer a user-friendly custom trading platform, available as a browser based web application.
No restrictions are placed on strategies that are allowed with the broker. Unlike other major forex brokers, LexaTrade offers mobile trading services for iOS, Android versions of the MetaTrader 4 app. As per LexaTrade review, the broker fees and commissions vary based on the type. LexaTrade offers three types of accounts, such as Classic, lexatrade website Pro, and VIP. Securities Dealer by Seychelles’ FSA regulates LexaTrade UK Ltd, which means that the client’s funds are given utmost protection and are stored in a separate bank account. LexaTrade has tied up with tier-1 banks for this facility. This assures you that your funds are safe and there is no high risk of losing your money.
Tell our team and traders worldwide about your experience in our User Reviews tab. Each trading account is automatically entered in the Trader of the Month contest. A combination of multi-lingual webinars, seminars, eBooks, video tutorials, and infographics present educational content to new traders. Multiple webinars are provided weekly, covering a wide range of topics. LexaTrade additionally hosts seminars globally, introducing Forex trading to new and potential clients. Two eBooks are available for download; in a marketing-inspired push, one eBook covers potential affiliation with LexaTrade and, as such, is of little value to most traders.
Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money. LexaTrade offer an their own custom trading platform developed and tested in house.
How Many People Use LexaTrade?
Autochartist complements the analytics provided by LexaTrade’s experts. It scans markets autonomously for predefined patterns, alerting traders of potential upcoming opportunities. Three calculators allow manual traders to compute margin requirements and pip values. Manual traders are provided with a wide range of analytics to manage their portfolios or to confirm their existing strategies. Similarly, the provision of only gold and silver fail to provide adequate commodity exposure, but should be more than adequate for new traders. For the Deposit or Withdrawal options broker using convenient methods with perform payments with ease and diverse. In addition, newly added to the company line LexaTrade Europe Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission and is a Member of the Investor Compensation Fund .
Like most brokers the broker using as mainstay trusted and well-triedMT4. Trading platform available on desktop or tablet, in web or on the go with a smartphone. As well, though many among the brokers do not allow stop and limit orders placing close to market prices, LexaTrade allows so, so it is another good point in LexaTrade’s proposal.
After about 3 weeks or so, they removed that local payment option with other one called ” India Instant payments’. So whatever amount you deposit the exchange rate was 9% expensive, the same case for withdraw. Good spread and good costs, but it’s the worst support I’ve ever seen. I needed to check another way to withdraw my money, support didn’t help at all, a simple email saying I needed to make a deposit via transfer so I could withdraw to my bank was enough. In short, we think that LexaTrade is a trustworthy brokerage that offers quite impressive trading conditions to its clients. Now, let’s review each of the above-mentioned points more closely.