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. LexaTrade offers competitive spreads, with forex pairs starting from around 1.5 pips. However, fees and spreads may vary depending on the account type and the asset being traded.
Deposit and Withdrawal Fees:
Install ScamAdviser on multiple devices, including those of your family and friends, to ensure everyone’s online safety. Contact with the broker via email, in our opinion, is great because we got the desired response in the expected time. Nothing suggested that LexaTrade cheat their customers with tricky terms and conditions. Rates, terms, products and services on third-party websites are subject to change without notice.
The spread on major currency pairs such as EUR/USD is relatively low, but the spread may widen for less liquid assets. Currently, LexaTrade is not fully regulated by major financial authorities such as the UK’s FCA or the US’s CFTC, which is a significant factor to consider when assessing its reliability. The lack of regulation from a reputable body means that traders may not have the same level of protection that comes with using a fully regulated broker. This is an area where caution is advised, as regulatory oversight is a critical part of ensuring the safety of your funds.
- MT4 is the platform of choice for professional traders, while the proprietary platform caters more to beginners.
- Of course there are questions, but after correspondence with tech support everything is successfully resolved.
- While some users praise the educational tools and platform usability, these positive experiences are overshadowed by the negative feedback.
- The broker has an excellent training center, there are quite a lot of video lessons and everything is explained.
- There is also a certain affiliate program on the site, which helps customers to bring new users, promising them a bonus in return.
- They entice with promises of doubling the deposit within 24 hours and similar claims.
Nowadays, it is second nature to an investor to choose an officially regulated broker with a decent regulatory history. Hence, it is of primary importance for a forex broker to assert its legitimacy through its regulatory certifications. Platinum account of LexaTrade broker takes the advantages and perks of previous accounts to a higher level. It was curated specifically for advanced traders who invest both in short and long-term. Dealing with an unregulated company like LexaTrade increases the risk lexatrade owner factor of your money.
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If you think this website should be very popular, please invest additional time in researching the company as this is suspicious. For a smaller or starting website a low ranking can be considered normal. We see them in Hollywood films, ambitious and impudent, easily making profitable deals and getting richer in front of our eyes. Since we are interested in transactions on exchanges, then we will talk about Forex brokers. The educational resources are useful for beginners but lack depth for advanced traders seeking sophisticated strategies or detailed research. The variety of instruments allows traders to diversify their portfolios, but the depth and range are average compared to industry leaders.
How does the scam unfold?
We always check which other websites are registered by the same company the website is using. In this case we discovered that the registrar is facilitating a high number of websites that have a low to very low review score. This may be a coincidence but it may also be caused by lax “Know your customer” processes at the domain registration bureau. We checked lexatrade.org and we are unsure if the website is legit.The review of lexatrade.org is somewhat low according to our computer algorithm. It is therefor recommended to do your own vetting to determine if the website is trustworthy or fake. You can do this by reading our article How to recognize a scam website as with any computer program our trust score can only be seen as an indicator.
- Even lexatrade owner when individuals reach Lexatrade for this, Their customer executive encourages upgrading the account type to get funds back.
- Such situations often happen; that’s why it is necessary to be attentive and to analyze the information.
- However, as with any trading platform, potential traders must carefully evaluate the features, fees, and overall trading experience before committing real funds.
- Even legitimate clients cannot benefit from false claims as it gives them a distorted view of a broker’s reputation.
- It does not provide any evidence that he was scammed by LexaTrade, or any idea of problems that Urbanek has encountered with the broker, hinting at the probability of reviews illegitimacy.
- This is because there are many traders online claiming to have been scammed by LexaTrade.
Spreads and Commissions:
MT4 is the platform of choice for professional traders, while the proprietary platform caters more to beginners. However, the proprietary platform’s lack of sophistication may not satisfy advanced users. The second point of the LexaTrade site is info that the company sells to its customers and site visitors. The company promises users the first trial account, with a mandatory profit, as well as a Deposit bonus of 30 percent.
So, they decided to place a lot of negative reviews on the internet to prevent clients from using the services of Lexa Trade. Such situations often happen; that’s why it is necessary to be attentive and to analyze the information. Analytical thinking will help not to make a serious mistake while choosing the broker by means of the internet. In this detailed review, we will cover various aspects of LexaTrade, including its trading platforms, account types, fees, customer support, and more. By the end of this review, you should have a clear understanding of whether LexaTrade is the right choice for your trading needs. Aside from throwing shades to the broker, some online client reviews also burst out that LexaTrade scammed them by not allowing them to withdraw their funds from their accounts.
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The first LexaTrade review is found on TrustPilot’s page and the other one is written on LexaTrade’s Facebook page. Both statements did not detail Urbanek’s issues with the broker, and only proceeded to create false statements about it. These statements have no legitimate grounds and are clearly libelous. It does not provide any evidence that he was scammed by LexaTrade, or any idea of problems that Urbanek has encountered with the broker, hinting at the probability of reviews illegitimacy. False statements like these are easy to create but have a dangerous impact on the broker’s reputation.
TradingBrokers.com is for informational purposes only and not intended for distribution or use by any person where it would be contrary to local law or regulation. We do not provide financial advice, offer or make solicitation of any investments. LexaTrade has often been found on the wrong end of maligning client reviews. However, it is crucial to note that not all client reviews came from the real clients of the broker. This time, we will feature some of the feedback and reviews of current LexaTrade clients to give us some first-hand experiences with the broker and how they feel toward their service provider. Despite limited information available on the LexaTrade website, other Lexatrade broker reviews will tell you that the broker is under the Maxi Markets group.