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Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with LexaTrade vs. similar brokers. We built BrokerNotes to provide traders with the information needed to make choosing a suitable broker easier and faster. 65.14% of retail investor accounts lose money when trading CFDs with this provider. It is pretty hard to conclude, on one hand we have fair trading tools lexatrade scam and assets range offered by LexaTrade. On the other hand, as we mentioned before, the broker has quite a lot of complaints. As mentioned above, LexaTrade has its financial regulation from CySEC, which means they could provide investment tools and services to users from all over the European continent. Furthermore, LexaTrade claims to have regulation for trading in South Africa as well.
LexaTrade offers users the ability to access mobile trading on the go from the MetaTrader 4 mobile trading app for both Android and iOS systems. The app download links can be found in the Google PlayStore or Apple AppStore.
Never provide phone number, I was checking with their demo and after 4 months, one after another started calling me and emailing me to start a real account. Per FPA policy, the best forex brokers rating on this review has been set to Zero stars. Furthermore, while LexaTrade doesn’t charge commission fees, the same are integrated into their unusually high spread prices.
We leverage our enormous client base to negotiate competitive spreads. Here’s a full list of the products we offer at LexaTrade and its schedule. Justin is an active trader with more than 20-years’ industry experience of working for big banks and hedge funds. He has an inside knowledge of how the financial markets work, thanks to roles including trader on a $750m Event-Arbitrage broker desk and CRO and COO of hedge funds running a variety of strategies. From stat-arb and trend-following CTA to fixed-income relative value. Firm’s he has worked at include big banks like Citi, and prominent hedge funds including D. Customer support is available 24 hours a day, and they can be contacted through a live online chat, email or phone call.
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All reviews represent only their author’s opinion, which is not necessarily based on the real facts. Compare theseLexaTrade alternatives or find your next broker using our free interactive earnings on forex tool. To start the process of opening an account with LexaTrade you canvisit their website here. LexaTrade has a BrokerNotes A support rating because LexaTrade offer over three languages.
According to the broker’s legal documents, they will also charge a monthly inactivity fee if no activity has been made for more than 90 days. There are also currency conversions if the base currency is different than the deposited amount.
- Traders with LexaTrade enjoy the peace of mind that comes from knowing their trading is safeguarded by our Negative Balance Protection, protecting their trading accounts from falling into negative territory.
- It makes you wonder whether LexaTrade could be using this location as a hideout to bend the strict rules of financial trading to its advantage.
- LexaTrade provides traders with 1 account with which to perform all of their trading activity.
- However, the primary characteristic of this broker is contained in its social feeds, and this means that traders can “follow” each other and mimic the successful trades.
- Taking this into account, along with the fact that their process of registering to trade is extremely streamlined, LexaTrade can be considered a very good option for traders who wish to jump right into the sector.
- You should consider whether you can afford to take the high risk of losing your money.
With LexaTrade, even if you have not completed verification, you can still trade. Still, your deposits will be limited to 2,000 USD/EUR/GBP until you have verified your residency and identity documents.
There are a few exceptions to this; notably, residents of the USA, Canada, and Brazil cannot trade. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits. Have you traded stocks, indices, commodities, cryptocurrencies, and forex with LexaTrade and are having a challenge accessing your money? To learn how you can get your funds back, book a free consultation session with our friendly experts. Again, from the same online review platform are incidences of fake positive reviews. In the above case, the reviewer was an employee of LexaTrade, making the review biased and misleading.
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LexaTrade provides our clients with support and assistance from professional account managers, who offer one-on-one coaching sessions. Trade more effectively than ever before as you sharpen https://lexatrade.name/en/ your skills with a variety of trading strategies that use both technical and fundamental analysis. Many brokers offer complex pricing structures such as commissions and floating spreads.
LexaTrade’s partner is regulated by the EU and its license falls under the Prevention of Money Laundering and Funding https://lexatrade.name/en/ of Terrorism Regulations. Regulations do not allow LexaTrade accounts to be opened in Iran, North Korea or the US.
What Are LexaTrade’s Spreads & Fees?
Depending on location, regional options may be available to traders. Deposit fees are waived which is basic industry practice, but withdrawal fees apply. LexaTrade.com doesn’t offer any bonuses or promotions to traders in keeping with regulatory requirements. Traders with LexaTrade enjoy the peace of mind that comes from knowing their trading is safeguarded by our Negative Balance Protection, protecting their trading accounts from falling into negative territory. As mentioned earlier in this LexaTrade review, this brokerage is regulated by CySEC, one of the most popular European regulatory bodies.
LexaTrade is the only cross-broker, cross-platform social trading network connecting traders and brokers worldwide. It is the only social network to offer rich and real-time market sentiment, along with aggregated user information. Per their website, “LexaTrade is pioneering the world’s first true Social Trading platform. Backed by leading venture capital firms, LexaTrade is committed to revolutionizing the financial trading experience. We’ve spent the last three years working on a suite of exceptional Social Trading tools.
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The maximum trade requirements vary depending on the trader and the instrument. As LexaTrade offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades. We use cookies to personalise content & ads, provide social media features and offer you a better experience. By continuing to browse the site or clicking “OK, Thanks” you are consenting to the use of cookies on this website. Cryptocurrencies can fluctuate widely in prices and are, therefore, not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework.
Deposit & Withdrawals Options
From our observations, LexaTrade provides a simple trading offering to trade on more than 200+ CFD instruments covering Forex, Shares, Commodities, Cryptocurrencies and Indices. Users can trade from the broker’s own web-based trading platform which is easy to access but limited in features. The broker operates with standard KYC and AML regulatory requirements and, as such, users are required to provide proof of identity and proof of address documents for verification. Uploading verification documents can be done from the Client Portal area. Users can also manage different trading accounts, access the LexaTrade Web platform and deposit and withdrawal options. Trader research and education resources are provided through the broker’s Market Review and Video Tutorial section. LexaTrade is a brand name of UR Trade Fix Ltd which is authorised and regulated by the Cyprus Securities and Exchange Commission .