Is LexaTrade a Scam? Read This Brutally Honest Review

LexaTrade customer support is very impressive as it offers full-time support with 24/7 operating hours. MT4 is probably the world’s most renowned trading platform for Forex. The platform allows traders to access all popular commodities worldwide. However, much information regarding the same is unavailable on its website. Lexatrade has launched a universal course for investors with any experience. And stay alert, scammers like lexa trade are present here too, misguiding the public.

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LexaTrade Bonus

The platform is relatively new in comparison to some prominent names already dominating the forex industry. However, it quickly garnered popularity among traders, thanks to one-of-a-kind features and the services. Lexatrade has developed an online training program for traders that takes students from their first deal to consistent results in the market.

The best way to recover your money from LexaTrade is to contact their customer support. If that doesn’t help raise a complaint against the platform with its regulatory watchdog i.e IFMRRC. LexaTrade is a Forex and CFD broker that offers to trade in currencies, indices, and commodities. The parent company of LexaTrade is Swissone Group Ltd, located in St. Vincent and the Grenadines.

LexaTrade Review: Customer Support

Webinars with experts, video lessons, and training materials have been selected and grouped according to the student’s level of competence. Please be noted that all information provided by ThatSucks.com are based on our experience and do not mean to offend or accuse any broker with illegal matters. The words Suck, Scam, etc are based on the fact that these articles are written in a satirical and exaggerated form and therefore sometimes disconnected from reality. All information should be revised closely by readers and to be judged privately by each person. Lexatrade has been serving my trade for 3 months now.

This does seem like a friendly https://forexhero.info/, but I am not sure it’s the best choice for a total beginner, simply because the lowest deposit to open an account is $250. Many regulated brokers allow $50 and even $10 as minimum deposits, so maybe you should pick one of those. 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. There is no fee to open an account and the fees for deposits and withdrawals are not specified anywhere on the website.

• Also keep in mind that the company is regulated , which is not the fiercest of financial watchdogs, but any type of regulation is better than no regulation at all.
• In order to attract more traders on the platform, LexaTrade often starts promotions.
• They encourage you to extract maximum amount from you and then open deals conveniently to bring you down to “ALL RED” and refuse to return a single penny.
• This does seem like a friendly broker, but I am not sure it’s the best choice for a total beginner, simply because the lowest deposit to open an account is $250.
• Live chat support was available at the time of our visit but a bit slow to answer.

For each successful deposit your friend made, you’ll receive up to 50% of the entire amount. The user-friendly UI of the platform caters to the needs of both beginner and professional alike. Comprehensive evaluation of LexaTrade’s offers and services. In-depth look at the platform with our detailed LexaTrade review.

I used to trade in crypto, then I moved to the foreign exchange market. The only extra worth mentioning is the Autochartist which is available right on the trading platform and is free of charge. It offers signals and pattern recognition and is generally regarded as a reliable tool but of course there are no guarantees that it will be profitable.

What Is LexaTrade Company?

They tell me rubbish rules which they did not inform at the time of joining. In a few weeks, we managed to increase the deposit by 15-17%. This is taking into account my caution, I don’t buy everything in a row, I carefully monitor the news.

N then…u r trapped… B sure ..ur money is gone within days… I lost my 250 dollars within night. At the start they will tell u that they give 100% Insurance over the capital amount bt it’s big lie… They won’t give u even a penny. N even u earn or make money from this platform, they will not let u withdraw money till u lose all ur money… There r lots of if n buts wen u wish to withdraw. As we are wrapping this in-depth LexaTrade review, the only thing I would say is to avoid this platform. The broker has a lot of disadvantages which overshadow its features.

How To Withdraw Money From LexaTrade?

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. Reviews are updated regularly to ensure that every trader has the most up-to-date information before making a choice. The minimum deposit at LexaTrade is $250, a slightly higher in this competitive world, with many offering accounts opening at $0. Therefore, for some people it will always be like a scam.

Video courses and E-books, while the questionnaire section offers all the questions related to customer’s feedback on the platform. This feature provides 100% insurance on the deposit amount. The promotion is applicable for deposit amounts ranging from $500 to $5,000. The insurance covers upto 100% of total loss on all trades opened on the deposit day. Additionally, the one thing that I disliked about the platform is that its standard account holders don’t have access to Cryptocurrencies.

Additionally, the broker is unregulated and has high spread charges. The platform’s features that are worth considering include bonuses, advanced trading platforms and learning programs. Yes, trading with Lexatrade is a fraud/scam cheating making fool of small investors/traders by misguided by the staff insisting for more money deposit for stock trading.

There is even nothing to be surprised at in such comments. But at the same time, for people with a head on their shoulders, Lexatrade is quite a working tool. I registered with them by depositing $250USD and play couple of trade and earned $236usd. When I contacted them they do not have clear answer.

There is not a single complaint regarding the same, so, we can rate it good in this case. The deposits are instant, while the withdrawal may take up to 3-5 business days to process. In my opinion, the platform should incorporate more payment methods. The charges are comparatively higher than the platform we have reviewed so far.

The splexatrades vary on the account type and instrument you trade in. And has global presence with headquarters at Beachmont Business Centre, Suite 39, Kingstown, Saint Vincent and Grenadines. Moving forward with this LexaTrade review, we will further discuss the platform’s fees, platforms and account types.

The broker offers a web-based proprietary platform that lets users experience advanced trading. It claims to offer advanced trading tools, increased speed and safety. The minimum deposit is $250 and the available methods are Visa, CryptoWallet and e-Payouts; the processing time is not specified. Information about withdrawals is missing and this should be addressed by LexaTrade.

• They will do registration before even u cud understand them.
• That being said, caution should be used anytime money is involved, with all brokers, old or new.
• Sir / madam in this regard I searched the company address of India.
• The broker has a low user rating of 2.1, which clearly shows the platform’s low credibility.
• At the start they will tell u that they give 100% Insurance over the capital amount bt it’s big lie… They won’t give u even a penny.

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 the processing of the withdrawal. The broker offers a dedicated section for research support, namely Traders Centre. Under the section, you’ll find a long list of advanced trading tools, which can help you trade more efficiently. Overall this is a promising broker but a few tweaks here and there would make it a better one. Lower deposits, more information about deposits and withdrawals, a basic FAQ, and a demo account are just a few adjustments that would go a long way and would make LexaTrade a higher-tier broker. That being said, they are very new at the time of this review, so there is time for improvement.

They know what sort of difficulties you may encounter and are only too happy to share their experience with you. They will help you avoid errors in class so you can make your start in the profession even easier. Users caught spamming or abusing will be deleted from the site and prohibited from future registration at thatsucks.com and affiliates. We recommend staying within the range of good taste and respectful language to avoid any unpleasantness. I have been working with Lexatrade since the summer and have withdrawn money 3 times during this time. I did not notice any problems with this broker, with the exception of sales managers.