Is LexaTrade a Scam? Read This Brutally Honest Review

However, that’s a minor complaint, as what you get for each account is actually pretty fair for the price point. One more significant concern is that the broker locks the MT4 platform behind the more expensive account types. 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.

  • However, it’s apparent that it’s much less limiting than even the more lenient country-based regulators.
  • If you have been a victim of LexaTrade scam or any other broker, do not feel embarrassed.
  • Apart from this, it will also help other people to be alert to such scammers and scams.
  • With over 170 trading instruments, various tools, and timely risk management features, the platform ensures a high-quality trading experience overall.

LexaTrade will delay the process for months if you want to withdraw your funds, regardless of whether you have profits or not. If they delay it for a few months, you might no longer be able to get your money back or even file a charge back. Brokers that are not regulated mostly operate in the following manner. They will reach out to people through various means like phone calls, or social media; to persuade them to make the initial minimum deposit. Cheapest and most expensive aren’t the most precise terms, as there’s no actual cost attached to the account. However, we can’t neglect the fact that $100,000 is a hefty sum and isn’t something anyone can reach.

xCrictical Mobile App

The spreads vary on the account type and the  instrument traders trade in. Victims of forex scams, cryptocurrency scams, binary scams, pet scams, dating/romance scams, or any https://cryptolisting.org/blog/how-do-i-write-off-previous-outstanding-checks number of scams should raise their voices and get their funds recovered. This will not only help them but all the victims who are struggling to get their deposits back.

  • We aim to equip you with an array of objective appraisals, insightful commentary, and meticulous analysis.
  • We analyze your chargeback data and root causes of your scam case in real time.
  • As you progress through the accounts, the bonus we mentioned earlier in our Lexatrade review grows.
  • MT4 is one the world’s most famous and reliable trading platforms for Forex.

We assist customers with documenting the case against trick representatives. With insightful reports and direction, we can help recover your assets. If you have been drawn nearer by a trick firm, then, at that point, contact Brokers Complaint to get fund recovery. Investing in commodities can be a great way to diversify your portfolio and achieve long-term gains.

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

Many brokers have more than one authority to supervise them, but some brokers do not have any. You should avoid such brokers, as they are a threat to your money. It has likely happened to many others, and it its important to learn from these experiences.

SILVER ACCOUNT

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. One fact that’s relieving and concerning at the same time is the broker’s choice of the regulator. Although we do daily broker reviews, we’ve never heard of it before. Our mission is to assist millions of traders in finding the best broker. We unbiasedly review every broker and rank them based on their market standing, regulation, and other factors.

What is the maximum leverage offered by LexaTrade?

This is not the case with LexaTrade and thus far we consider this CFD broker a reliable partner for your trading needs. Investing in indices such as NAS100, EUR50, JPN225, and USA30 provides several advantages to traders who are interested in index trading. Lexatrade ensures high-grade security measures for all the services it provides, to secure client’s funds. Get help in forex scam recovery, crypto scam recovery, binary scam recovery, romance scam recovery, and also get a free consultation. We suggest investors stay away from this broker and go for the genuine one. If you have been a victim of LexaTrade scam or any other broker, do not feel embarrassed.

If a broker is not licensed by the regulatory authority in your jurisdiction, that likely means they are unregulated and should be avoided. Lexatrade has potential, but it also has a lot of things bogging it down and making numerous questionable decisions. The asset access is limited, your withdrawal requests are low priority, and the spreads are extremely high. We’re nearly certain the broker made the accounts just to seem more open. The broker doesn’t hide the fact that it’s trying to goad you into depositing more.

What Trading Accounts Are Available At LexaTrade?

Many fraud forex brokers or other scam brokers are working under fake organization names or other deceitful activities. A fundamental examination can go far in securing you and your accounts. Managing financial firms approved or enrolled by legal authorities gives you more prominent assurance assuming things turn out badly.

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