LexaTrade: Getting Into the Meat of an Honest Broker
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.
LexaTrade web platform
Organic search for reviews reveal that positive and reasonable reviews are actually outweighed by negative ones. But most of the negative reviews are concentrated on Social Media, where you can write “I was scammed by LexaTrade” without any proof. All of our reviews are based on research carried out by professionals. LexaTrade’s year of founding and the regulatory body that sanctions its activities had not been disclosed through the firm’s site. To find out the brokerage’s profile, one should consult other sites with LexaTrade reviews. While not necessarily a red flag, this is completely inconvenient and taxing.
Deposit and Withdrawal Fees:
LexaTrade lists the world’s biggest stocks, previous revenue, and forecasts. It also includes the date when the forecasted value is expected to happen so traders can prepare. LexaTrade also offers a referral incentive, apart from hefty welcome incentives ranging from 30% to 120% of the initial deposit of the trader. The incentive is awarded to a trader who refers the broker to a friend who successfully signs up for an account.
LexaTrade ensures that their clients have sufficient knowledge about them before they begin trading. Wondering whether Lexatrade scammers or not, let’s analyze its services and development level. When it comes to platforms, broker LexaTrade ensures clients enough options to choose from. This is why aside from MetaTrader4 and XCritical, they’ve also developed a platform to embody important qualities and characteristics.
- Company provides a brief overview of each market and a short list of assets, which clients can trade.
- On the other hand, the majority of traders don’t need Expert Advisors, scripts and the (sometimes) stuffy interface of Meta Trader.
- What the reading of review ultimately provides its readers is a fair assessment and perspective of LexaTrade.
- This is an area where caution is advised, as regulatory oversight is a critical part of ensuring the safety of your funds.
EToro is one of the most popular and most trusted online financial services prov… This regulatory body is one of the most trusted in the world, meaning earning a regulatory status from an organization guarantees the safety and reliability of a broker. A critical measure of a broker’s legitimacy is authorization by recognized financial regulators. LexaTrade does not hold licenses from any of the major authorities that typically oversee brokers. It does not appear on the registers of the United Kingdom’s Financial Conduct Authority, the Australian Securities and Investments Commission, the Cyprus Securities and Exchange Commission, the U.S.
Silver Account
- 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.
- MtT4 platform is considered as the gold-standard for every other trading platform in the trading industry.
- Its multi-asset trading services have garnered the trust of its clients and has earned it a spot in the top forex brokers in industry.
- Other negative reviews listed on TrustPilot also detailed circumstances that unfortunately happen in markets but do not fall under broker’s control.
- It is equipped with over 170 trading instruments, various tools, and timely risk management that provide a quality trading experience overall.
- All early signs show that LexaTrade is not a scam but keep in mind this is a very new CFD broker.
Brokers required various licenses and regulators’ approval to serve investors and traders. Lexatrade offers personal account managers to its users and they help lexatrade news in trading. Lexatrade has developed an online training program for traders that takes students from their first deal to consistent results in the market. Webinars with experts, video lessons, and training materials have been selected and grouped according to the student's level of competence.