When I invest 350s, I immediately get the indices and the operations resolved to make me lose my money. This people will lure you to come and invest with them after promising you a huge return of interest but will still held your withdrawal at the end. 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.
Perhaps we’re being too harsh since if you know what you’re looking for, you’ll find it. However, for a newer trader, the website may look too daunting. We wouldn’t be surprised if entry-level traders couldn’t find their way around and simply decided to use another brokerage. All information on 55brokers.com is only published for general information purposes. We do not present any investment advice or guarantees for the accuracy and reliability of the information. Apart from Grenadine Islands and their Off-shore company address in a tax haven small country, they don’t have any offices anywhere.
Lexatrade has been serving my trade for 3 months now. I used to trade in crypto, then I moved to the foreign exchange market. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
But LexaTrade is not even registered as a legal company. Hope the above information is enough to know the basics of LexaTarde, account types, its services, fees and referral program. If a trade position is kept open and carried over to the following day, a commission will be charged to the trading account for using the credit. The commission is based on the size of the transaction and ranges from 0.005% to 0.015% for most instruments, while it is 0.5% for cryptocurrencies.
lexatrade review Trade is a forex broker with trading platforms of xCritical Mobile App, Metatrader 4 and proprietary Web Trader. The minimum deposit is $250 and the available methods are Visa, CryptoWallet and e-Payouts; the processing time is not specified. Information about withdrawals is missing and this should be addressed by LexaTrade. All we could find is that withdrawal processing takes up to 24 business hours and that a representative will contact the client in order to complete the processing of the withdrawal.
Unfortunately, it is almost impossible to get the money back from this type of broker. You can try to withdraw small amounts , but do not invest more, you will only lose more in that case. You can also report about this issue to your local financial regulator or the regulator where the broker claims to be located. Although FMRRC is an independent self-regulatory agency which was created to provide a level of regulation for derivative dealers and brokers.
LexaTrade Review 2023: Is It A Scam Or Legit Broker? Unbiased Review
Clicking on the link to discover more takes us to a sign up page where the broker requires us to create a trading account. They offer a lot of instruments to the retail side with reasonable costs. Plus, the additional tools and bonus packages makes them a dominant player in the sector. Bonus amounts are great when it comes to enhancing your capital, but for best experience, it should be used with caution. Minimum withdrawal amount and processing time is not clearly mentioned.
The minimum withdrawal amount is 50 USD, and if a client withdraws the money without realizing 5 independent transactions, LexaTrade will charge a 5% fee. Currency pairs, indices, commodities, metals, energy, stocks…..LexaTrade allows clients to access a huge range of trading markets. Therefore, both beginners and experienced traders can find what they want to trade on LexaTrade.
oldest investment bank in the world: Oldest bank in the world: Two European institutions staking a claim
Its fraud company, dont upload money with this portal. I have uploaded some moeny and post that they have locked my amount and i am nither withdraw nor able to trade. They are asking more money to upload to enable my account and not returning the amount that i have already uploaded.
Please help me regain my hard earned money, thank you. After almost a year of working with them, I can say one thing – it’s SCAM and it’s the simplest of its kind. Someone on the webside said that he has withdrawn money – Yes, they are paying out, but only pennies and just to call back for more.
They will finish you with calls until you give out your money after which you will start begging them but they won’t listen. Just then they made me trade strongly recommending some deals. In my past experience my deals had been making money and so I picked those deals.
- The setup itself is tried and true and is one of the most common ways for brokers to structure their accounts.
- Overall this is a promising broker but a few tweaks here and there would make it a better one.
- Have control over your money as we provide favorable terms.
- The platform allows traders to access all popular commodities worldwide.
- Topics around the financial markets are explained well and the videos are both entertaining and educating.
- Due to such malpractices At the end the investor suffer financially & mentally.
The capital amount required to get started with them is roughly around $250. While the numbers are exciting, read the terms and conditions before accepting anything. This broker offers a mobile application and it is also something that can be categorised as desirable. If you are someone who trades on the go, then their mobile app will not let you down.
Variety of trading tools, automatic signals about profitable deals. Bonus programs, low spreads, 0% commission, multi-language call center. This means that when you open an account with $5,000 dollars, we will add to your account another $1,500 dollars. Trade and invest freely from anywhere on the planet with LexaTrade online platform using the high-tech functionality, speed, and profitability of the terminal. Caring for our clients, our company makes every effort to optimize the trading processes and services provided. For your convenient and effective trading, we have developed and implemented a new online platform.
- I was so frustrated and giving up on my money when Mr. Tony Luis came to my rescue and helped me out with the issue.
- It allows them the greatest reach, as the primary concern with the accounts is budget rather than trading style.
- Do not ever sign on any agreements about your Credit Cards.
- We’ll see if the broker’s functional prowess ends up improving what we think.
- LexaTrade claims to offer the tightest spread in the industry.
- Over time, it has grown and developed advanced trading solutions and a variety of financial instruments, becoming a well-known online brokerage brand.
The case with its funding is much of the same, as there are some things that look good. For starters, there’s the fact that the cheapest account doesn’t require a huge deposit. Also, the spreads on the VIP account are relatively tight. The setup itself is tried and true and is one of the most common ways for brokers to structure their accounts. It allows them the greatest reach, as the primary concern with the accounts is budget rather than trading style.
It is registered in Saint Vincent and the Grenadines which makes no sense. As per LexaTrade conditions, if the referred client makes a deposit between $500 to $10,000, then 50% of it will be the referral bonus. LexaTrade has a referral program in which you’ll receive up to 50% deposit amount as a commission. Lexatrade claims to prioritize the safety of its client’s funds. But we are skeptical about most activities and claim made by LexaTrade. Within a few years of its establishment, LexaTrade expanded its services to different countries around the world.
Of course, the market was surprising and the account had to be saved with further deposits. I paid and earned – but when I wanted to withdraw funds – I heard that I have to wait a bit, because they have to prepare it. The next day, after the American market woke up, my account was reset within 5 minutes. Lexatrade offers the MetaTrader 4 and MetaTrader 5 trading platforms. These platforms are popular among traders due to their advanced features, which are defined below. Yes, trading with Lexatrade is a fraud/scam cheating making fool of small investors/traders by misguided by the staff insisting for more money deposit for stock trading.
Overall this is a promising https://forexhero.info/ but a few tweaks here and there would make it a better one. That being said, they are very new at the time of this review, so there is time for improvement. I have just started, so far I am good with the trading tools.