The minimum deposit is $250 and the available methods are Visa, CryptoWallet and e-Payouts; the processing time is not specified. Information about withdrawals is missing and this should be addressed by LexaTrade. All we could find is that withdrawal processing takes up to 24 business hours and that a representative will contact the client in order to complete the processing of the withdrawal. Unfortunately LexaTrade doesn’t offer a lot of information about withdrawals but according to the website, a representative will contact you to complete the processing, which takes up to 24 working hours. The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client. 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.
Of course, we cannot vouch for the accuracy of the signals but it’s a nice addition. Cheapest and most expensive aren’t the most precise terms, as there’s no actual cost attached to the account. However, we can’t neglect the fact that $100,000 is a hefty sum and isn’t something anyone can reach. Again, as we said earlier in our Lexatrade review, the broker doesn’t do anything that sets off alarms. 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.
Editor’s Note: Why LexaTrade Doesn’t Suck in 50 Words
But as we said, we don’t like paywalls for core features as a practice, although you may not mind them at all. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits. We will give you an additional $1,500 when you open a new account with $5,000. With LexaTrade online platform, you can trade and invest from anywhere on the globe using the high-tech functionality and speed of the terminal. Our company is committed to providing the best trading services and processes for our clients.
LexaTrade Review: Key Insights, Platform Performance & Is It Right for You?
Trade and invest freely from anywhere on the planet with LexaTrade online platform using the high-tech functionality, speed, and profitability of the terminal. Caring for our clients, our company makes every effort to optimize the trading processes and services provided. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained in the Website. The default proprietary platform is good enough, with an intuitive interface and a solid set of analytical features. As such, we can’t hold the deposit requirement for MT4 against the broker too much.
You can try to withdraw small amounts (if the withdrawal limits allow you too), but do lexatrade scam not invest more, you will only lose more in that case. You can also report about this issue to your local financial regulator or the regulator where the broker claims to be located. Although FMRRC is an independent self-regulatory agency which was created to provide a level of regulation for derivative dealers and brokers. It has no connection to any official regulatory body, and has very few legal powers with regards to regulating FMRRC regulated brokers.
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- 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.
- In this review, we’ll examine why users should exercise extreme caution if considering LexaTrade.
- The owning/operating company is Swissone Group Ltd, located in St. Vincent and the Grenadines and registered with the IFMRRC – Certificate TSRF RU 0395 AA V0165.
- However, the translation itself is shoddy, so the website ends up looking unprofessional.
LexaTrade is ambiguous about how deposits and withdrawals work, and we can only get come basic information in the refund policy page. The asset access is limited, your withdrawal requests are low priority, and the spreads are extremely high. As you progress through the accounts, the bonus we mentioned earlier in our Lexatrade review grows.
Red Flags Indicating Potential Scam Activity
Live chat support was available at the time of our visit but a bit slow to answer. For your convenient and effective trading, we have developed and implemented a new online platform. Use all the capabilities of the terminal and make profit with minimal risks. 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. 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. The website is translated in 6 languages, the platform is relatively easy to use and offers all the features needed by an average trader.