On the other hand, the majority of traders don’t need Expert Advisors, scripts and the (sometimes) stuffy interface of Meta Trader. Besides, LexaTrade’s Web platform offers all the tools that can turn a skilled trader into a profitable trader. Lexatrade has potential, but it also has a lot of things bogging it down and making numerous questionable decisions. The asset access is limited, your withdrawal requests are low priority, and the spreads are extremely high. We’re nearly certain the broker made the accounts just to seem more open. If you’ve been following our Lexatrade review, you’ve likely noticed that the broker takes a step forward and a step back.
Thus, LexaTrade guides investors before they start investing through their educational resources. Investing in commodities can be a great way to diversify your portfolio and achieve long-term gains. It’s important to carefully consider options before making any investments, and LexaTrade is a trusted broker that can help you navigate this process. With their 24-hour client service team, you can get the support you need whenever you need it.
- Every single one of our instructors has gone from a beginner to a practicing trader.
- One fact that’s relieving and concerning at the same time is the broker’s choice of the regulator.
- Webinars with experts, video lessons, and training materials have been selected and grouped according to the student’s level of competence.
- 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.
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. But as we said, we don’t like paywalls for core features as a practice, although you may not mind them at all. 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.
Lexatrade Review – Is it good, or is it a scam?
The website is translated in 6 languages, the platform is relatively easy to use and offers all the features needed by an average trader. A mobile platform is available but Demo accounts are not; US traders are not accepted. This does seem like a friendly broker, but I am not sure it’s the best choice for a total beginner, simply because the lowest deposit to open an account is $250.
- And without the broker specifying the times, who knows how long it might take for you to get your money.
- Furthermore, while there are some solid conditions, they all come with high price points.
- Deposits are processed immediately, ensuring that you have access to your funds whenever you need them for trading.
- A deposit match isn’t inherently a bad thing, but it’s commonly used by malicious brokerages.
- Lexatrade is new forex and CFDs brokerage that primarily operates in Europe.
Lexatrade has five different account types covering budget and high-end options. The broker uses a tiered account progression where each type requires you to reach a specific threshold. The platform also offers customizable charting, allowing users to tailor the charts based on different timeframes. A classic choice, particularly in Forex trading, the MT4 platform has garnered trust from seasoned traders ever since its launch in 2005. Also keep in mind that the company is regulated (IFMRRC), which is not the fiercest of financial watchdogs, but any type of regulation is better than no regulation at all. That being said, caution should be used anytime money is involved, with all brokers, old or new.
Webinars with experts, video lessons, and training materials have been selected and grouped according to the student’s level of competence. That, along with the multiple phone lines, makes the broker easy to reach. The representatives are adept at problem-solving, so the overall communication flow is great. However, better options are present online, and it’s easy for most traders to switch.
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The broker offers different types of accounts to its clients for better trading experience. This broker offers a balanced mix of functionality and user-friendliness. 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.
Trading platforms offered by LexaTrade are MetaTrader4, XCritical Mobile app, and LexaTrade WebPlatform. LexaTrade offers several trading instruments to choose from, with high leverage and low spreads for high liquidity and profits. Fill out the application form with your personal information, including your name, mobile number, email address, and a secure password. All early signs show that LexaTrade is not a scam but keep in mind this is a very new CFD broker. This is not the case with LexaTrade and thus far we consider this CFD broker a reliable partner for your trading needs.
WHAT CAN BE TRADED ON LEXATRADE?
With over 170 trading instruments, various tools, and timely risk management features, the platform ensures a high-quality trading experience overall. 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. LexaTrade’s MT4 web terminal is a highly secure and reliable trading platform, incorporating advanced technology and offering a seamless trading experience.
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And without the broker specifying the times, who knows how long it might take for you to get your money. As such, we don’t think you can get a competitive trading service up until the $10,000 account at least. It lowers risk diversification as well by investing in the basket of different stocks of various companies and sectors. 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.
It allows them the greatest reach, as the primary concern with the accounts is budget rather than trading style. That means the accounts suit most strategies, and as such, can attract diverse groups of traders. It offers a diverse range of payment options ranging from bank wire transfers to credit/debit cards, from Skrill to Neteller. The methods for deposit are Visa, CryptoWallet and e-Payouts and we assume the same methods will be used for withdrawals, although LexaTrade doesn’t mention this specifically. Overall this is a promising broker but a few tweaks here and there would make it a better one.
https://cryptolisting.org/blog/how-to-calculate-overhead-using-abc offers a variety of trading platforms according to the trader’s needs. The enhanced account offering helps traders to trade efficiently and thus improves their trading game. The broker is regulated, but not efficiently by a tier 1 regulation, so clients should be careful while investing with the broker.
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 has developed an online training program for traders that takes students from their first deal to consistent results in the market.