Lexatrade Review Is it good, or is it a scam?

Of course, the broker has options for downloadable terminals, web platforms, and mobile apps. Unfortunately, when a broker looks like it’s a rushed project, it’s often a scam. That isn’t an exact rule, but it’s something we’ve found to be true more often than not. Perhaps we’re being too harsh since if you know what you’re looking for, you’ll find it.

  1. The broker uses a tiered account progression where each type requires you to reach a specific threshold.
  2. That, along with the multiple phone lines, makes the broker easy to reach.
  3. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews.
  4. Investing in indices such as NAS100, EUR50, JPN225, and USA30 provides several advantages to traders who are interested in index trading.
  5. We wouldn’t recommend using this forex brokerage, they donot impress us with the vague information they have provided.

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In our Lexatrade review, we’ll look at how beneficial it is for customers compared to other options. The only extra worth mentioning is the Autochartist which is available right on the trading platform and is free of charge. It offers signals and pattern recognition and is generally regarded as a reliable tool but of course there are no guarantees that it will be profitable. There is no fee to open an account and the fees for deposits and withdrawals are not specified anywhere on the website. There is no mention of an inactivity fee but we cannot guarantee that you won’t be charged one. Live chat support was available at the time of our visit but a bit slow to answer.

Lexatrade Review: Conclusion

I did not notice any problems with this broker, with the exception of sales managers. They are a little more aggressive than necessary.But why am I seeing a lot of negative reviews about Lexatrade? It turns out that almost ALL negative reviews were written by scamers advertising their scam chargebacks. If this doesn’t work, traders can raise a complaint to IFMRRC, the regulatory watchdog of LexaTrade.

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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. Of course, we cannot vouch for the accuracy of the signals but it’s a nice addition. The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client. So there’s the argument that some regulation is better than none, and that does hold up. But there’s also the fact that while it’s better than nothing, it’s not a significant improvement. So the regulation may impose negligible limits on the broker while generating a false sense of confidence for potential customers.

Is this your company?

Many fraud forex brokers or other scam brokers are working under fake organization names or other deceitful activities. A fundamental examination can go far in securing you and your accounts. Managing financial firms approved or enrolled by legal authorities gives you how genuine is lexatrade more prominent assurance assuming things turn out badly. Reviews are updated regularly to ensure that every trader has the most up-to-date information before making a choice. After analyzing the detailed LexaTrade review, we can say the company is totally a scam.

Even for the higher accounts, the spreads are wider than those from other brokerages that require similar price points. As we said earlier in our Lexatrade review, it offers a competitive trading experience, but it gets overshadowed by better companies. This broker offers a balanced mix of functionality and user-friendliness.

We check the account with its corresponding depositand leverage. Most of the scammers are experienced manipulators and before you know it they’d ask for your bank card numbers to assist you with the deposit. There is also a chance to become a victim of Identity theft, experiencing many more problems consequently.

If you have been drawn nearer by a trick firm, then, at that point, contact Brokers Complaint to get fund recovery. Investing in commodities can be a great way to diversify your https://turbo-tax.org/ portfolio and achieve long-term gains. Users can cancel their trading account at any time by sending their concerns to an email address or by contacting an administrator.

LexaTrade customer support is very impressive as it offers full-time support with 24/7 operating hours. The broker can be reached through multiple channels, including phone line and email. The support team is problem-solving and responds quickly, so the overall communication with the team was great.