⭐ LexaTrade Review Got Scammed? Get Your Money Back!

First and foremost, report the incident to your local authority department. If no resolution can be reached, there is still hope to recover your funds from LexaTrade by attempting to open a chargeback case with your bank or credit card provider. Through these five straightforward steps, MyChargeBack simplifies the fund recovery process, enabling you to reclaim your money from LexaTrade with minimal inconvenience.

The risks involved in using unregulated companies like LexaTrade include the inability to file a complaint with a credible regulatory authority in case of a dispute. The broker offers its traders two platforms, as we’ve indicated earlier in our Lexatrade review. And even then, you only get the web version, and you need the $50,000 account for the full unlock.

LexaTrade is an online trading broker owned by Swissone Group Ltd. The company is located at Beachmont Business Centre, Suite 39, Kingstown, Saint Vincent and the Grenadines. LexaTrade is simply another unregulated financial institution that is highly likely to get away with your hard earned money because there is no regulating agency to hold them accountable. The data contained in this website may not be real-time and accurate. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose.

  • The asset access is limited, your withdrawal requests are low priority, and the spreads are extremely high.
  • If you have already deposited money with LexaTrade, and you have been unable to make withdrawals; which is very likely, don’t worry, there may be a way or two to get your money back.
  • Lexatrade has five different account types covering budget and high-end options.
  • Brokers Complaint can have advertising and affiliate relationships with some of the trusted recovery companies and may be compensated through them .
  • Even the withdrawal speeds increase as you go up to the higher accounts.

As you progress through the accounts, the bonus we mentioned earlier in our Lexatrade review grows. Similar bonuses often have thick strings attached, so be sure to read the terms if you intend to invest. Again, as we said earlier in our Lexatrade review, the broker doesn’t do anything that sets off alarms. It’s by no means a strict scam, and in fact, it’s safer than the average broker, but you still need to tread carefully.

Understanding Inverted Hammer Candlestick: Types, Benefits and it’s limitations

Even Though the regulation of brokers is not refined, the reviews of the broker online are satisfactory. The broker also provides different trading assets for higher liquidity https://cryptolisting.org/blog/what-is-best-monacoin-mining-pools with high leverage and low spreads. XCritical mobile app offers an easy-to-use interface, traders can access their trading account on the go, without any hassle.

  • It’s by no means a strict scam, and in fact, it’s safer than the average broker, but you still need to tread carefully.
  • Again, as we said earlier in our Lexatrade review, the broker doesn’t do anything that sets off alarms.
  • This is another RED FLAG, because these types of websites are notorious for fraudulent schemes.

We are here to conduct a comprehensive evaluation of LexaTrade’s offers and services for the most
in-depth and unbiased verdict. Fraud Recovery , Forex fraud recovery and Crypto Scams recovery are possible. We are a registered Fund recovery assistance firm based in London, UK. Follow our straightforward guide to efficiently reclaim your lost funds from LexaTrade with minimal hassle.

How To Recover My Money From Forex Lexa Trade?

On the other hand, if you are confident in your abilities and $250 is not a lot for you, then LexaTrade may be a good choice. 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. Constant vigilance should be applied at all times when trying to invest in trading platforms. If a broker is not licensed by the regulatory authority in your jurisdiction, that likely means that they are unregulated and should be avoided. Even if the brokerage is regulated, it is best to avoid it if the regulator happens to be outside your jurisdiction.

LexaTrade Review 2024: Is It A Scam Or Legit Broker? Unbiased Review

Apart from this, it will also help other people to be alert to such scammers and scams. Check out more unregulated and untrustworthy scam brokers in our Scam Broker 2022 list. The first step to protecting yourself from fraudulent parties online is to do thorough due diligence on the companies and entities that you are planning to send the funds to. In all probability, there have been other traders who have already used the same service, and have expressed their opinions and feedback online on various forums. As such, we don’t think you can get a competitive trading service up until the $10,000 account at least. We aren’t the biggest fan of the huge jumps between the sums you need for different account types.

That isn’t an exact rule, but it’s something we’ve found to be true more often than not. The broker’s offer does actually seem decent enough, but the presentation isn’t up to par. We’ll see if the broker’s functional prowess ends up improving what we think. Perhaps we’re being too harsh since if you know what you’re looking for, you’ll find it. We wouldn’t be surprised if entry-level traders couldn’t find their way around and simply decided to use another brokerage.

SILVER ACCOUNT

Even the withdrawal speeds increase as you go up to the higher accounts. And without the broker specifying the times, who knows how long it might take for you to get your money. The charges are higher compared to the platform we have reviewed so far.

The broker has a low user rating of 2.1, which clearly shows the platform’s low credibility. While looking for the platform on Trustpilot, we went through many complaints, which indicate LexaTrade is a scam. The company charges a service charge of 5% if users make less than 5 independent transactions. In order to attract more traders on the platform, LexaTrade often starts promotions. There is not a single complaint regarding the same, so, we can rate it good in this case.

However, it is an offshore broker restricted to operating in the US and Europe. LexaTrade customer support is very impressive as it offers full-time support with 24/7 operating hours. The broker can be reached through multiple channels, including phone line and email. The support team is problem-solving and responds quickly, so the overall communication with the team was great. The platform supports  bank wire, credit /debit cards, Skrill, Neteller and OrangePay for both deposits and withdrawals.

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