A mobile platform is available but Demo accounts are not; US traders are not accepted. The platform offers a long list of trading instruments, is regulated and most importantly, is not a scam. Victims of forex scams, cryptocurrency scams, binary scams, pet scams, dating/romance scams, or any 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. Apart from this, it will also help other people to be alert to such scammers and scams. The client often acquiesces because the broker will be quite pushy and make it clear he or she is in control since they hold the client’s fundsWill charge high withdrawal fees.
The charges are comparatively higher than the platform we have reviewed so far. The spreads vary on the account type and instrument you trade in. Sometimes scammers are increasingly using legitimate firms’ details to add an air of legitimacy to their scams.
False Claims: Analyzing Negative LexaTrade Forex Brokers Reviews
When trading stocks, CFDs, or other derivatives, consider whether you understand the function of differential contracts and be aware of the high risk of losing your funds. LexaTrade ensures that all client funds are kept in a segregated account from the company’s funds. We are a registered Fund recovery assistance firm based in London, UK.
After setting this up, the information will then be subjected to verification. After going through successful evaluation, clients are given their login information and may already start live trading. Now daily some 10 people call me to start trading and if I say I am not interested they wont le t me go. The broker is also attracting new traders using a 30% deposit bonus. Remember to read the terms and conditions for accepting and using deposit bonuses with brokers.
But at the same time, for people with a head on their shoulders, Lexatrade is quite a working tool. I have been working with Lexatrade since the summer and have withdrawn money 3 times during this time.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. The methods for deposit are Visa, CryptoWallet and e-Payouts and we assume the same methods will be used for withdrawals, although LexaTrade doesn’t mention this specifically. All early signs show that LexaTrade is not a scam but keep in mind this is a very new CFD broker.
Can I Get My Money Back From LexaTrade?
Unfortunately, it can also be a means of losing your savings if you aren’t careful. This is not meant to deter you–in many cases, trading is safe and reliable but only if you have the right broker. This means avoiding flashy phrases and hollow promises of outsized returns and sticking with brokers that have a solid reputation. This is why it is important to find out more about Lexatrade before opening an account and sending money or sending any documents. Read our Lexatrade review before sending your hard-earned cash. “I have been working with this LexaTrade broker for six months now.
As we said earlier in our Lexatrade review, it offers a competitive trading experience, but it gets overshadowed by better companies. The broker offers its traders two platforms, as we’ve indicated earlier in our Lexatrade review. However, you can only unlock MT4 after depositing $10,000.
LexaTrade Review 2022 – Is LexaTrade Scam or Legit?
Scam Victims Help is committed to the fair handling of reviews and posts regardless of such relations. We analyze your chargeback data and root causes of your scam case in real time. We maintain the security of your data with highest standards. To sum up, all that has been said above in this LexaTrade review, we give you the power to decide whether the broker is a scam or not. Check whether the broker is included on the scam broker list of major regulators like FCA, FMA, ASIC, SEC, etc.
Either balance gets zero or unable to withdraw funds due to invalid reasons. But considering various reviews, we found that their so-called experts have very less knowledge and most trade signals are loss-making. Lexatrade has provided very less information about its organization. It is registered in Saint Vincent and the Grenadines , a kingdom of thousands of shell companies. I used to trade in crypto, then I moved to the foreign exchange market. And stay alert, scammers like lexa trade are present here too, misguiding the public.
The broker has a lot of complaints and the majority of negative LexaTrade reviews can be found at Trustpilot. 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.
We aren’t the biggest fan of the huge jumps between the sums you need for different lexatrade scam 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.
However, better options are present online, and it’s easy for most traders to switch. Furthermore, while there are some solid conditions, they all come with high price points. Unfortunately, things like investor compensation funds and segregated bank accounts are not present. On the bright side, they do make up for it by offering a ton of funding and payment methods.
Lexatrade customer service is bad, the account managers are irresponsible please becareful to use them, they are so frustrating. Since they persuade to open account, after I do know of them attend to my email again. 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. Instead of falling for the LexaTrade scam, we recommend you to start with a more trusted platform like InvestFW.
LexaTrade Scam Review: Get Money Back
The platform’s features that are worth considering include bonuses, advanced trading platforms and learning programs. 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 generally asked in very small amounts by legitimate brokers as taking huge amounts as the minimum deposit is not advised by the regulations.
It should be made clear that Lexa Trade does not hold an individual broker license. We have read each section and can confirm that everything is filled in properly, and the conditions are not fake. Moreover, if anything goes wrong, it is possible to fill in a complaint form, and the company will try to solve the issue. False statements like these are easy to create but have a dangerous impact on the broker’s reputation.
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. 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. LexaTrade is unregulated, which is a major red flag against the broker in this LexaTrade review. Mostly, unregulated brokers offer investment opportunities that look and sound very attractive, with the highest potential gains. Sometimes, they share fake information about the regulation, but true information is consistently available through the regulator’s sites, so analyze it cautiously.
The lack of regulation also means that LexaTrade is not obliged to follow any code of conduct, which could potentially put clients at risk. LexaTrade has gotten many negative reviews and traders who traded with this broker have raised many complaints against it. The genuine brokers that are operating in the market often require low deposits. High deposits are not in the favour of the regulatory bodies.
They even tout a variety of stocks for trading claiming that this will spread the potential risk involved in stock trading. The capital amount required to get started with them is roughly around $250. While the numbers are exciting, read the terms and conditions before accepting anything. LexaTrade provides access to economic calendars and news on their homepage. Simply put, clients do not have to visit any other website and switch tabs to get the latest updates.
- I learned about the company much earlier, but I came across a network about the negative about it.
- This broker claims to be in Saint Vincent and the Grenadines.
- For those that are victim of online investment scam, i will recommend the help of janesilva0727 g mail com a recovery expert who helped me in getting back all my lost funds.
- Scam Victims Help specialists research the brokers and find if they are involved in scams.
It is also not advisable to work with a broker that has a license from a regulator that is not in the top two tiers. The lower-grade regulator does not provide much scrutiny concerning those they license and do not engage in oversight or deal with consumer complaints efficiently. Therefore, it can be almost as bad as working with a broker with no license. Look at Lexatrade’s license and ensure it is up-to-date and from a reliable regulator. If you have any questions about which regulators are the most trustworthy, consult with our experts.
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. Another thing to keep in mind is that there might also be withdrawal conditions concerning accounts that take advantage of the bonus promotion. Some fraudulent brokers stipulate that a trader must achieve a certain trading volume to be eligible for withdrawal.