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.
How do I know I can trust these reviews about Lexatrade?
They can open positions, execute trades quickly, and monitor their account balance from anywhere, at any time. Whether a beginner or an experienced trader, the XCritical mobile app is a great way to enhance your trading experience. The broker offers different types of accounts to its clients for better trading experience. As we are wrapping this in-depth LexaTrade review, the only thing I would say is to avoid this platform. The broker is unregulated and has a lot of disadvantages which overshadows its genuine features, such as high spread charges. If a broker is not licensed by the regulatory authority in your jurisdiction, that likely means they are unregulated and should be avoided.
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To make sure you are dealing with a regulated and known broker, you should be able to find easily who is the CEO of this investment firm, who is running it etc. Lack of information is a big red flag since you don’t know who will be dealing with YOUR MONEY. 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. If you’ve been following our Lexatrade review, you’ve likely noticed that the broker takes a step forward and a step back. That means the accounts suit most strategies, and as such, can attract diverse groups of traders.
How To Recover My Money From Forex Lexa Trade?
- The asset access is limited, your withdrawal requests are low priority, and the spreads are extremely high.
- Information about withdrawals is missing and this should be addressed by LexaTrade.
- A fundamental examination can go far in securing you and your accounts.
- The company charges a service charge of 5% if users make less than 5 independent transactions.
- The broker offers different types of accounts to its clients for better trading experience.
A web-based proprietary platform is offered by LexaTrade, such as MetaTrader4 and LexaTradeapp – xCritical Mobile App. While the platform offers a considerable service, we still advise to choose among legit brokers like InvestFw. The charges are higher compared to the platform we have reviewed so far. The spreads vary on the account type and the instrument traders trade in. That, along with the multiple phone lines, makes the broker easy to reach. The representatives are adept at problem-solving, so the overall communication flow is great.
LexaTrade Review: Pros And Cons
Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. Its fraude company consists of lots of incompetent employees in India who always make you invest with a false commitment and later how genuine is lexatrade they denied to keep their promises. Even i have raised my concerns in their portals but no actions were taken. LexaTrade is a Forex and CFD dealer that offers to alternate in currencies, indices, and commodities.
However, it holds a licence from the International Financial Market Relations Regulation Center. Despite this, it’s miles an off-shore broker limited to function within the US and Europe. Moving forward with this LexaTrade review, we will further discuss the platform’s fees, platforms and account types. The platform is somehow new in comparison to some reliable names dominating the forex industry. However, it garnered popularity among traders with its one-of-a-kind features and the services.
IFMRRC stands for International Financial Market Relations Regulation Center. With their 24-hour client service team, you can get the support you need whenever you need it. It offers a diverse range of payment options ranging from bank wire transfers to credit/debit cards, from Skrill to Neteller. In order to attract more traders on the platform, LexaTrade often starts promotions.
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. The broker set up strict payment procedures for the safety of the trader’s funds and to prevent financial theft.
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. 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.
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. We assist customers with documenting the case against trick representatives. With insightful reports and direction, we can help recover your assets.
It doesn’t do anything to stand out, and the vast majority of traders can easily find an option that’s both more comfortable and more powerful. However, better options https://turbo-tax.org/ are present online, and it’s easy for most traders to switch. Again, as we said earlier in our Lexatrade review, the broker doesn’t do anything that sets off alarms.