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Lexatrade Review Of Forex And Binary Options Broker

Posted by Prabhjot7 jot7
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On July 6, 2021

This range include all major currencies alongside many minor, and some exotic forex pairs. As the largest and most liquid financial market in the world, the Forex/CFD market is regulated by the same regulating bodies that supervise banks and other financial institutions.

Lexatrade forex brokers reviews

Beside forex, you will find a good selection of other markets. The lexatrade forex broker most choice in these markets comes if you are trading stocks.

Which Platforms Are Supported By Lexatrade?

The support email address is There is an email form at the Contact Us page of the official website. Lexatrade mobile apps are available for iOS as well as Android devices. 2021 review of Lexatrade – exchange brokerage platform Also, trading lexatrade reviews signals can offer the broker, which had a high hit rate in the past. Lexatrade does not charge withdrawal fees on credit card transactions, but there is a fixed fee of 10 EUR when withdrawals are either equal to or less than 20 EUR.

Lexatrade forex brokers reviews

This may impact how, where and which products / companies / services we review and write about. This page may not include all available products, all companies or all services. The trade types can be broken down into Forex Cryptocurrencies CFDs, Trading Software, and Features Lexatrade Payouts will vary based on the performance of the underlying asset. BDS review is deemed to be positive when it has such a range.

Price Manipulation Service Use: Livelength Of Use: 0

Email support is contacted via a form on the website and is useful for more detailed enquiries, however, it is naturally the slowest point of contact. Overall, the best and quickest way to contact Lexatrade customer support is via the live chat.

Lexatrade forex brokers reviews

This methodology considers over 200 criteria points, covering the categories of safety, fees, platforms, products, payments and customer support. We update this methodology and our recommended reviews yearly, so that you’re only given up to date information. Lexatrade also charged currency conversion fees if the trader’s account currency is different than the one that they use for deposits. If the trading account goes dormant after 90 days, there is a fee of 10% charged on the account balance. Lexatrade does not charge any deposit fees while withdrawal fees are not charged on credit cards. Withdrawal fees are charged on withdrawals of less than 100 USD/EUR/GBP.

Lexatrade is not currently accepting clients from the EU or the UK. New clients accounts are under the offshore BDS Markets entity, which provides little regulatory protection.

Lexatrade Non

An inactivity fee of 10% of the account balance (which will range from €25 to €49.90 or account currency equivalent) lexatrade scam will be charged after 90 days. There have been many complaints from users online regarding withdrawals.

On ForexPeaceArmy they only have 1.5/5 stars, which is fairly worrying. There are numerous complaints from traders around the world of unfair conditions, withdrawals being held and a lack of support from the company.

Like many leading trading platforms, Lexatrade have an entire section of their website dedicated to research and education. One of the first indications that Lexatrade is geared more towards experienced traders rather than beginners is the minimum amounts required to actually open an account. Added to that, they also provide access to a range of educational webinars known as trading talks. These are delivered by industry experts and can provide some meaningful insight to help you develop your trading skills. The Lexatrade education section is another area in which they shine through.

Lexatrade Broker Profile

Hi there, as already advised in your previous review, we do not accept U.S clients at this moment. They asked for the wallet I use to deposit money into my account in an email which I did. We are glad to hear that your issue was resolved promptly and that you are satisfied with your Lexatrade Experience so far thanks to George.

Lexatrade forex brokers reviews

Lexatrade offers a number of different trading platforms – there are three to choose from in total, and I’m going to be giving you an overview of each of these below. Lexatrade offers demo accounts to all new customers and it’s easy to undergo the setup process. It’s designed to take new traders from beginner to competent trader, plus there are also some more advanced trading strategies and analysis to appeal to the more experienced traders. Lexatrade was established in 2012 and was quick to cement itself as one of the leading online trading platforms on the web.

This broker appeared on the online market in 2010 and offers a great service package to its customers. The broker is particularly known for binary options and CFDs. The broker is registered with power house CySEC which is a very popular license among many brokers. The CySEC license provides access to all EU markets and is even acknowledged wider. Cyprus has been very desirable as a Forex destination since 2004 when Cyprus joined the EU. CySEC tightened the leash and implemented stricter policies, but the island country remained a tax haven which has been attracting Forex magnates ever since. To hold a CySEC license, brokers are subject to the MiDF directive on capital markets which dictates the rules in the market.

  • Relatively, its platforms are wired with several considerations Retail foreign exchange trading to provide client satisfaction.
  • This range include all major currencies alongside many minor, and some exotic forex pairs.
  • According to Lexatrade themselves, over $5.3 trillion is traded on the foreign exchange market.
  • The WebTrader does not require downloading and it is fully synchronised to the downloadable versions of the MT4.

Additionally, most other expert reviewers do rate them highly and they are regulated by several top tier bodies. However, when it comes to customer reviews, you’ll find that their reputation isn’t quite so strong. The initial process is extremely quick, however, you won’t have trading capabilities until your account has been fully verified.

Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money. Trading in markets other than forex, such as indices, crypto, and stocks, the spread generally has a starting point of between 0.4 pips , and 0.15% . The only fees which may be relatively high at the broker are if you are trading cryptocurrency, the Bitcoin fee as an example starts at $190, and the inactivity fee, if applied, can amount to a lot. The broker charge 10% of your balance as an inactivity fee if you are inactive for more than 90-days.

Lexatrade forex brokers reviews

Effectively, this means that you never actually own the underlying asset of the cryptocurrency itself. Essentially, crypto trading with Lexatrade involves buying and selling the currency at its value, then withdrawing any profits should you wish to do so. Lexatrade customer service is good, agents are available around the clock and speak international languages, and we also got relevant answer via the Live Chat.

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