Lexatrade Review: Comprehensive Broker Analysis Review

On the other hand, the Web platform offered for the minimum account is quite enough for the average trader, so maybe that’s not a deal breaker. We aren’t the biggest fan of the huge jumps between the sums you need for different account types. 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.

Since this is very common within the trading industry, clients need to thoroughly assess if a particular broker’s conditions will come favorable and fitting to their strategies and structures. There is no fee to open an account and the fees for deposits and withdrawals are not specified anywhere on the website. There is no mention of an inactivity fee but we cannot guarantee that you won’t be charged one.

1. In this portion of the review, we aim to explore the accounttypes a broker might have.
2. Included in the process is the funding, in which interested parties need to provide the means of funding, and the amount they want to deposit.
3. Some fraudulent brokers stipulate that a trader must achieve acertain trading volume to be eligible for withdrawal.
4. If one is to look for the company’s web rating, an engine search on the internet will render negative LexaTrade broker reviews.
5. Each account type comes with its own set of perks, with the higher account types offering the best perks and benefits.
6. This is not the case with LexaTrade and thus far we consider this CFD broker a reliable partner for your trading needs.

Subscribing to LexaTrade Forex Broker

The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client. 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 is lexatrade regulated the processing of the withdrawal. Another thing to keep in mind is that there might also bewithdrawal conditions concerning accounts that take advantage of the bonuspromotion. Some fraudulent brokers stipulate that a trader must achieve acertain trading volume to be eligible for withdrawal.

Lexatrade Review: Comprehensive Analysis of Forex and Crypto Brokerage

While SVG has no regulatory body, recently the government of Saint Vincent and the Grenadines has claimed that it is planning a complete reformation of the nation’s FX and CFD regulatory grounds. We don’t know when they will do this, but we are expecting SVG to pick up the slack and begin enforcing a set of rules to its broker’s firms, which for now are mostly SCAMMERS. Deposit and withdrawals are the two most importanttransactions for us because the end goal of trading is making a profit. In thissection, we look at these methods to make sure everything is okay with it. Interested parties need to visit the broker’s official site and from there, they will immediately find the registration button.

It is equipped with powerful instruments for encompassing and holistic trading experience. Its Customer Service Automation also known as the CRM fully integrates various payment processing systems. The use of xCritical also ensures stability, from deposits up to actual trading.

Using a Data Room for M&A

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. The website is translated in 6 languages, the platform is relatively easy to use and offers all the features needed by an average trader. A mobile platform is available but Demo accounts are not; US traders are not accepted.

As for the disadvantages it carries, its reputation is tainted mainly from the absence of tight regulatory oversight. In addition to this, clients’ queries are given resolution in an untimely manner, which only adds to reasons why it has been receiving negative feedback from its clients. Lastly, it charges daunting fees including a 5% commission from clients with less than 5 transactions. Its ultimatum for those inactive clients also came as a disadvantage as it charges 5% every month. Its head office is located in St. Vincent and the Grenadines, a small island in the Caribbean known for its offshore status. With the absence of financial authorities, clients’ funds are exposed to intensive risk, say, for example, LexaTrade decided to shut down its business.

In this portion of the review, we aim to explore the accounttypes a broker might have. We wouldn’t recommend using this forex brokerage, they donot impress us with the vague information they have provided. To get a better understanding of how brokers(both licensed and unlicensed) work, read our review on Fxcryptomine, FTG Markets, Capital GMA, Kiexo.

Included in the process is the funding, in which interested parties need to provide the means of funding, and the amount they want to deposit. Note, however, that the broker asks for different deposits according to which account clients will open. After going through successful evaluation, clients are given their login information and may already start live trading.

We are back with our unbiased review of LexaTrade, an online trading broker company. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. Lexatrade is an appealing option for traders looking for a comprehensive platform that covers a wide range of financial instruments. While the lack of regulation may be a concern for some, the features and educational resources provided can enhance the trading journey for both novice and seasoned traders.