Lexatrade Review 2020

Lexatrade has regulated branches of its business in Cyprus, the United Kingdom, and Australia and is consistently rated lexatrade broker reviews among the top firms for online trading. Finding the best forex broker for your needs requires extensive research.

Lexatrade provides 24/7 email and live chat support in 15 languages. What users need to do is fill in the form available at the “Contact Us” section of their website and submit their “Request Form”. Following the submission of the Request Form, Lexatrade’s response will be sent by email directly to the email address the customer specified in the Request Form. The interface does suffer in terms of advanced user compatibility, as it offers limited customization and a lack of advanced tools like MetaTrader4 . No outside tools can be used to pair Lexatrade’s web trading interface to enable added functionality either.

According to saferinvestor, as of July 2021, only UK and CySec regulators offer any form of funds protection in case of broker insolvency. If you are regulated in the UK by The FCA you will fall under the purview of The Financial Services Compensation Scheme and have 100% deposit protection up to £85,000. CySec regulated brokers offer a guarantee of funds of 90% of remaining deposit up to €20,000 in case of liquidation of the firm. Before co-founding Lexatrade, Mr. Haber served as chief operating officer of InterLogic Ltd, a ‘skilled games’ programme provider for the internet, and mobile devices, which he co-founded in 2004. At his current job, Haber has contributed significantly to the development of Lexatrade’s trading platform, making it user friendly and all-round more competitive.

Can I Trade With Leverage On Lexatrade?

Nor PublicFinanceInternational or any of our affiliates makes any recommendation or implies any action based on the information we proved to you. We don’t make any solicitation or recommendation to take any action or trade or invest in any financial instrument, asset, or commodity. You can always try out the platform with a completely free demo account. This way you can see how the platform works and really learn how to use it, before investing any money. Therefore, trading with Lexatrade you should perform your own research before making trading decisions, which is more suitable for experienced traders.

scammed by Lexatrade

I have now invested $53720 and they refuse to give me any funds back. I had to reach out to a recovery company WEALTHWATCHS, COM to help me recover all my money back and I am glad it was a success. PublicFinanceInternational.org helps traders and investors, from around the world, navigate the complex world of online brokers. We spend thousands of hours a year, both researching and testing brokers, to give you unbiased and extensive reviews.

Stock Cfds

Lexatrade is an industry leader providing contracts for difference and trading facilities for Crtyptocurrency, forex, shares, ETFs, commodities, indices, and options. Security is a serious matter which cannot be compromised at any cost. The traders should make sure that the broker has taken all necessary measures of safety. Lexatrade is safe and secure because it is regulated by many regulatory authorities like ASIC, CySEC, FSA, and FCA. This segregation is expected to prevent your funds being compromised in case of company’s liquidation.

Lexatrade offers two types of accounts which include retail accounts and professional accounts. The traders can open an account by following step by step process provided by Lexatrade. First of all, the traders have to click on the sign-in or create account option. In the second step, enter your name, phone number, email, etc. Next, the traders have to verify their account by providing documents for proof like utility bills , a copy of ID, and a bank statement.

Fees

This is the only way to stop them from stealing more money. Since Lexatrade is a registered UK trading company, it makes me wonder the part UK government themselves have to play in this by allowing this lexatrade cheating scammers to be trading in the UK. I guess the government does not care because at the end of the financial year they receive a huge tax payment from Lexatrade, the money scammed from you and I.

scammed by Lexatrade

So the WebTrader & Windows trader eventually is the same feature available through your browser at Lexatrade. For instance, you may also check out and compare fees to another popular social trading broker Capital.com. Yes, if you are South African resident you may trade under LexatradeAU Pty Ltd which is an authorized South Africa Financial provider. Apart from its comprehensive activity Lexatrade it is a timely recognized worldwide CFD platform by various independent organizations and exhibitions. Lexatrade also builds strategic points through numerous initiatives.

Lexatrade Customer Support

You can create alerts by clicking the alert icon in the main trading screen, and you can view, edit and remove alerts by clicking the “Alerts” tab located in the application menu. Trailing Stops make it lexatrade scammers possible to place Close at Loss orders that automatically update as long as the market moves in your favor. Trading on this platform doesn’t give you any ownership rights over the underlying asset.

scammed by Lexatrade

Always note fees are always changing as Lexatrade offering fixed and dynamic spreads. They are constantly adjusted to the market conditions, therefore here we provide spreads and rates for reference only that were actual at the time of the writing.

The order automatically closes when the price changes direction and passes the number of pips that you specify. Essentially, a Trailing Stop makes it possible to place Close at Loss orders that automatically update as long as the market moves in your favor. This risk management feature is free of charge and locks in profits while limiting losses.

scammed by Lexatrade

An SMS with the confirmation code will be sent to a mobile phone. You will be required to enter this code to log in to your accounts. If you feel that Lexatrade is not right for you then at the bottom of this Lexatrade review you wil find a lot of alternatives to Lexatrade. A new dealer can learn from industry experts utilizing the automatic trading option.

  • I like the lightweight webtrader at Lexatrade for beginner traders, but it lacks support for algorithmic trading solutions.
  • Lexatrade is an acclaimed fintech company, which operates with transparency.
  • Add money to your trading account with ease and withdraw your earnings the same way.
  • They claim to have about 330,000 active customers whilst offering a transparent platform where they don’t charge for almost anything (e.g. deposit and withdrawal of money).

Another important thing to have in mind is that Lexatrade has a policy on deposits and withdrawals. The policy states the deposits and withdrawals you make can be free provided you do not exceed the maximum amount threshold for your account. Lexatrade doesn’t charge most of the fees particular to some brokers. The platform wants the traders to come in and trade with ease without bothering about the huge fees they are likely to pay. The work of this tool is to help view the sentiment or general feeling of the other traders about a particular cryptocurrency CFD. Usually, the traders are required to vote on those sentiments based on their perspective of the CFD’s potentials.

This is the reason why Lexatrade introduced a wide range of risk management tools. A cryptocurrency CFD simply means a contract for difference that can be used to trade cryptocurrencies. Unlike traditional cryptocurrency trading methods, you don’t need to have a crypto coin to trade a crypto CFD. All you have to do is to choose leverage, open a position and decide on the amount to use for trading. Contract for difference is a financial trading strategy whereby the traders do not need to own the actual assets before they can make profits. If the predictions correct, you will take the differences in the prices as profit. Lexatrade offers a fixed or dynamic spread for its instruments.

The advantage is that opening an account in Lexatrade is completely fast and clear, verification in 20 minutes. I can also note the almost flawless execution of transactions. Lexatrade has a consumer rating of 1 star from 4 reviews indicating that most customers are generally dissatisfied with their purchases. After trading with them for over 4 years, i Was eventually scammed.

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