All communication with clients takes place in writing either through email, online chat or WhatsApp which are available on a 24/7 at LexaTrade.com/Help/ContactUs. We are glad that you like the app and our verification process. This is a good investigative journalist’s report into the forex scam industry that I encourage you to read. The only drowback that I’ve found till now is that they didn’t offer some CFDs which I was interested in trading. This would have made me a 50 percent gain with the leverage at the LexaTrade account. Given the online training market is starting to flood, it has never been more important to ensure that your online learning has been verified by a third party training certification.
It’s OK for a bit of fun but, absolutely riddled with many shaddy, ripoff, in built cheating scamming practices all designed to make sure you lose all your money as fast as possible. I have had some problems with LexaTrade and I am trying to get my money back. If you have searched for LexaTrade opinions, information on demo and signing up process, or how LexaTrade works, we hope you have found what you needed in this article. In fact, if you try to talk with other traders, you will find that everyone has their own recipes and secrets for trading on LexaTrade. To summarize to the maximum, therefore, if you have doubts in investing in individual stocks, it is better to invest in equity indices to lower the level of risk. Everything has been said about the allocation of capital as a strategy for trading with LexaTrade.
These are better for active traders, than long-term investments. There are certain additional costs associated with holding these contracts for a period longer than one day. This broker is considered safe due to the regulatory coverage. The main advantage of this broker is their easy-to-use platform and low costs. Our opinions and analysis is our own and is based on hours of research.
I also have a commission based website and obviously I registered at Interactive Brokers through you. On the negative side, LexaTrade has a limited product portfolio, consisting only of CFD products. Some standard research tools, like recommendations and fundamental data are not available. By clicking one of these buttons and confirming the order, LexaTrade will execute your trade instantly . As this is a ‘market order’, you are likely to get a price just above or below the one you see on-screen. This is because the asset price will move on a second by second basis.
Leverage
Although high risk because CFD trades are separate from the financial markets, a CFD trade can be more flexible than a traditional market trade where you own the underlying asset. CFD trades give access to CFD fractional shares, CFD international markets and CFD short selling.
It doesn’t allow for automated tradign via expert advisors and it doesn’t provide back-testing functionalities. It also doesn’t allow clients to manage third-party funds via MAM trading platforms. The company provides a streamlined Web Trader platform along with similar mobile trading apps for Ipad, iPhone, and Android devices. LexaTrade is for the individual or entity which seeks access to teh wide range of financial markets with low trading costs and a simple platform where users can place their trades.
Using negative balance protection ensures your losses will always be limited to the current balance of the money in your account. Often you have to visit and read many broker websites all of which have different uses of language. For a beginner, the first few hurdles can come in the form of what appears to be a complex mobile or online trading platform, hard to understand investment terminology and lexatrade scammers confusing fee structures. What LexaTrade are able to offer, what countries LexaTrade are available in. Forex trading carries a high level of risk and may not be suitable for all investors. CFDs are complex instruments, due to leverage retail accounts lose money. Before you engage in trading foreign exchange, please make yourself acquainted with its specifics and all the risks associated with it.
Overnight Financing Fee
I have had probably the worst experience I can remember when attempting to withdraw around $2,000.00 from my LexaTrade account. The withdrawal requests were rejected on a number of occasions with one exception where a valid request for my Credit/Debit card was requested and supplied. This was not required previously to validate and establish the account.
While multiple victims have claimed that they have screenshot evidence, until now no accountability has been taken by the FCA or any of the regulators that oversee LexaTrade. A company that is regulated by these government watchdogs cannot be considered a scam. In a word, yes, but as a trader, you are going to need a more comprehensive answer to that. Is LexaTrade a legitimate broker worth trusting with your online investments? However, it does require it to release its accounts to the public during every semester, which helps traders make a more informed decision when it comes to signing up.
Desktop Trading Platform
The most important macro appointments are also highlighted. All the tools we have just analyzed can be traded after opening a new account on LexaTrade. Thanks to LexaTrade all traders can trade with the best underlying assets. This technique is used in Forex Trading and consists in taking advantage of the high volatility phases that often characterize the trend of the currency pairs. In the previous paragraph we clarified that there are no real tricks to trade with LexaTrade.
However, compared to other brokers, it does not offer the MetaTrader4 platform option which would give the users greater functionality and adaptability. When compared to other brokers, plus 500 offers lower fees for the benefit of its traders. LexaTrade holds the trader’s deposits in segregated trust accounts which are sorted out according to the regulatory requirements. This offers protection to the client funds in case LexaTrade goes bankrupt. By using LexaTrade, the trader can trade using the innovative webtrader, and also by using orders the user can automate their trading activities.
How We Ranked Fees
EVERY SINGLE trade I enter, turns around at that exact time to take out my stop loss before continuing back on it’s trend. Here you can test not only the broker’s platform, but also your skills on the financial markets with CFDs. To summarize, also based on all LexaTrade reviews, it is one of the best brokers out there to trade CFDs on a practically unlimited choice of assets . The absence of telephone assistance may sound strange, but it will certainly be a company policy, to focus on saving on this service, and thus be able to offer low spreads.
You will also be charged £10 per withdrawal if you transfer less than the £100 minimum. There’s also an inactivity fee of £10 per month after three months of inactivity. But you only need to log into your LexaTrade account to avoid this charge – you don’t actually need to place a trade. Most traders, then, should never be hit with any of these account fees. Today, LexaTrade offers trading on more than 2,000 financial instruments through CFDs. It offers not just share trading, but also forex, commodity, cryptocurrency, and index trading.
Guaranteed stops are available with some markets; however, they come with an increased spread and cannot be added to previously opened trades. LexaTrade is regulated by the FCA which is one of the main regulatory agencies in the U.K. And is highly regarded globally for being strict in ensuring that market practices are fair for both individuals and businesses. Simply put, being regulated by a reputable government-backed agency goes a long way towards establishing the credibility of a firm. We publish unbiased product reviews; our opinions are our own and are not influenced by payment we receive from our advertising partners. Learn more about how we review products and read our advertiser disclosure for how we make money.
Forex
Same with Gold, Gas, Oil they love to freeze your positions on the losing price even though 2-3 days later the underlying asset is way up. You can smell someone just going into your account and freezing those assets on lost that would otherwise get a profit in short time. It is not like they do it will all your positions, but only those that best forex brokers are losing, they will allow you to gain if you made the right call, but after a while, they will make you lost what you earned. Just use other Trading platforms like Option 180 instead of supporting Isreal where the company has its roots and that tells it all. Also look at all those 5 Star reviews, all paid with money grabbed by their scam.
- The posts here about LexaTrade being a scam is the real lies.
- Some of the links on this websites articles and comparison tables are affiliate links, which means we receive a commission should open an active account.
- LexaTrade should make sure all of your questions are answered and your LexaTrade platform issues solved.
- LexaTrade also offers a number of useful risk management features, such as stop losses , limit orders, negative balance protection, price alerts, and much more.
- A brokerage may make most of their revenue from charging registered traders a commission fee on client transactions.
- LexaTrade is also the first broker to introduce a CFD in 2013 and advertises that all trading costs are contained in each instrument spread.
To further clarify the function of the Guaranteed Stop, we will use a simple example. It can only be seton a new trade and cannot be added to an existing position.
It offers a free demo account parallel to the real one, which allows you to practice with virtual funds for as long as you want, with a starting portfolio of $40,000. The conditions of the demo account are the same as a real one, with the only difference that the transactions carried out do not affect the market. When you want to trade profitably, it is clever to set the take profit twice as high as your stop loss. When you want to lose a maximum of $10 on a position and you would potentially earn $20, you only need to make the right decision in 50 percent of the cases. Dealing with risks is essential when you want to make money by trading. The LexaTrade platform is easy to use, providing a great user experience even for first-timer.
Because as we all know, making evaluation errors is human, especially in online trading. LexaTrade offers the Guaranteed Stop functionality only on some of the assets available on its trading platform. It is therefore necessary to verify if this option is available or not for the chosen asset. Through this Stop Loss, even in the event of large and sudden market changes in the value of an asset, your position will be closed exactly at the price you specify.
I have already get in touch with other affected clients, and I am posting information on this matter on the internet to find out if there are more people defrauded. I have to admit that they are one of the very few brokers I want to deal with. I mean, I deal with lexatrade official site other brokers as well but it’s always a pain in the ass. Often you have to explain everything 3 or 4 times through chat, than through email and than someone calls you to solve it. I very rarely used the support and when I did it was only for a couple of minutes.
Note, costs are not guaranteed and presented for reference only, as the fee may vary according to market conditions and liquidity. Verify your account and identity by upload of confirmation documents – residential proof like a utility bill, copy of your ID, bank statement etc. Yet, under the regulatory restrictions and impose of authorized operation, the residents of various countries fall under particular jurisdiction rules.