As a broker, it is highly efficient in providing trading solutions to a number of forex problems, as well as in other markets. It is known to traders as trustworthy and reliable, with its reputation strongly suggesting that it has kept its commitment to complying with industry-grade regulatory standards. It is safe to say that LexaTrade has maintained a clean reputation over years of service. LexaTrade was established in 2008 as an online broker focusing on binary options. Since its foundation, this broker has expanded and began offering services in other markets, hence adding it to the list of international brokers offering global services. Furthermore, their customer service department responds quickly via live chat, which is very helpful.
- LexaTrade maintains no unique features, but the consistent lack of transparency and missing introduction of core trading elements are noteworthy.
- Their Trading Central feature allows traders to access third party market analysis and historical data.
- A ban from providing investment services to new clients in general.
- The high degree of leverage can work against you as well as for you.
- Each was also required to close all open trading positions for UK residents by 4th June 2020 and liquidate the balances.
- Other promotions and bonuses include gifts such as laptops, TVs, and other electronics.
See below, our in-depth review of the lucrative LexaTrade online trading brokerage. Worked with other brokers before, Some of them are well known, But LexaTrade gave me the best service and the easiest withdrawals and deposit. This broker remains compliant with its regulator, the IFSC, though transparency, and a proper introduction of the core trading environment remain a concern. LexaTrade established itself as a leader in the now-defunct binary options segment, and remnants of the ill-advised practices still exist. Currently, it functions as a legitimate broker, but traders should remain cautious. LexaTrade extends its opaque presentation to deposits and withdrawals.
I’m trying to get my money back, by consulting with some recovery agents but not sure what to do as they are asking for big money. I wish i would have searched for them before starting trading with them getting in this difficult time. They have eloquent Stock people who pull the money out of your pockets without you noticing. I’ve been tricked by this clever and cunning act that this is an investments company. During this time, they are expected to take corrective measures within a set framework.
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I also noticed that the brokerage does not offer a video guide to their platform as other binary options brokers do. And most importantly, spreads are pretty high with this binary broker.Above all,the persistent calls by the “account managers” to put more money in your account. Forex Trading.Company was established to provide global traders a deep and insightful source of information on forex trading strategies and indicators.
The selection comes 4 main asset classes mainly currencies , commodities , market indices and stocks . In terms of regulatory oversight, LexaTrade is regulated under 2 regulatory agencies. For operations within Europe, LexaTrade is regulated by the Cyprus Securities Exchange Commission under the CIF license no. 207/13 issued to Rodeler Ltd. For operations outside of Europe, LexaTrade comes under the jurisdiction of the International Financial Services Commission of Belize. The authorization is issued to Richfield Capital Limited under the IFSC registration number IFSC/60/440/TS/15-16. i still think you better do this on a established Forex broker instead of on the exchange as there should be your wallet and buy the coins and not particular trade them.
86.24% of retail investor accounts lose money when trading CFDs with this provider. They also make it easier than ever to get your money dealt with thanks to their wide and varied banking programs. This is a great choice for those who want to help improve their understanding of the finance side of the game. Once you set up an account with LexaTrade, you can make sure you are well on the right track to getting a high-value banking option that manages withdrawals and deposits like a hawk. Whenever you’re dealing with trading and investing, you want to make sure you’re using a reputable company on a safe platform. With LexaTrade, you not only get professional help, but you also get personal assistance.
Too little too late, I realized that I had been scammed, and all he could say was “I am sorry”. This broker is based in Cyprus and the main company is in Belize. Let other traders know if this service is worth checking or should be avoided. According to CONSOB, the two firms had also violated the EU directive concerning negative account protection. They also broke the rules by pressuring investors to deposit more money and used incentives, such as bonuses, to encourage overtrading.
The broker features a wide variety of tradable assets and a recently developed state of the art trading platform. The company’s customer service has telephone support in 12 countries, as well as live chat, and its trading platform has been translated into 22 languages. LexaTrade.com was one of the original retail binary option online brokers, so it retains a strong presence in that market.
It allows you to trade forex, crypto, stocks, options and much more on its award-winning platform. Before you start trading CFD or forex, you want to know what you’re getting into. Some online brokers offer demo accounts so you can trade with the equivalent of Monopoly money before you get serious about it. The Web based LexaTrade trading platform has recently been upgraded to let clients deal currency pairs, binary options, CFDs and commodities from the same easy to use online interface. The Basic account comes with access to MT4 and the company’s Web client platforms, one-click trading, a mobile app for iOS or Android and access to 24/7 customer service.
The app takes advantage of the strengths of each platform in order to maximise the functionality on every device. So traders can use one of two platforms, each provides different strengths. MT4 is perhaps more complex to use, but includes way more analysis tools and also automation options. Traders can of course, lexatrade website perform research on one platform, and trade on the other. the Forex industry at the moment is going ballistic for all the cryptocurrencies that are offered for trading on most retail Forex brokers. since these people are first and foremost experiences and professional the transition went rather smoothly.
This regulation provides peace of mind as the authority requires all brokers to offer various safeguarding measures, including a segregated accounts policy and negative balance protection. In case the potential client does not understand the risks involved, he/she should seek advice or consultation from an independent advisor. If the potential client still does not understand the risks involved in trading in any financial instruments, he/she should not trade at all. Potential clients without sufficient knowledge should seek individual advice from an authorized source. CFDs and cryptocurrency trading entails significant risks and there is a chance that potential clients lose all of their invested money. Once the registration is completed, you will notice two types of accounts are available.
Investors also have access to popular online trading platform MetaTrader4 . LexaTrade offers a deposit bonus of up to 50%, but the terms and conditions remain excessive. Asking clients to trade 20,000 times the bonus amount within 90 days before unlocking it as a withdrawal incentive is another binary options leftover, pressuring more trading activity.
The asset list for CFDs includes stock indexes from the world’s largest economies, such as those on the Dow Jones Industrial Average, NASDAQ, DAX, FTSE, MICEX and TADAWUL. Being regulated by CySEC, the company offers its services on a cross border basis to EU member states, which permits the provision of its services in their jurisdictions. Because of the EU regulatory obligations, customer funds are kept in segregated bank accounts. Trading is delivered lexatrade broker reviews through a proprietary trading platform which offers all-inclusive trading from one centralised location. This includes forex, CFD, commodity, and binary options trading all from one convenient location. Started as a Binary Options broker, LexaTrade has grown to become one of the leading CFD and forex trading sites. With its MetaTrader 4 platform offering coupled with an expanded customer support service, LexaTrade is a decent broker option.
Before completing a withdrawal request, LexaTrade requires you to provide documents to prove your identity. Verification documents include a driver’s license, the official state identification document, and a current passport. Besides any of these documents, you also need to show proof of your address through a bank statement, a utility bill, or a credit investment for beginners card statement. The minimum amount you can withdraw is $10, and the maximum is the amount you have in your LexaTrade account account. There is a minimum deposit, but the amount depends on how you fund your account. With credit cards and electronic payments, the minimum deposit is $250, whereas, with a bank wire transfer, you need a minimum of $1,000.
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Instead, the company earns money from the dealing spreads, which are quite competitive and range from a minimum of three pips for the majors to around seven pips for exotic currency pairs. Leverage of up to 200 to 1 is available for most forex transactions. Finally, while LexaTrade was cited and fined by CySEC for non-compliance with some important regulations in early 2016, they have probably had enough time to rectify those issues. Although LexaTrade originally got their start as one of the first online options traders, it has now significantly diversified their trading offering. This includes CFDs on stocks, commodities, and indices across a range of regions and markets.
This website is provided for informational purposes only and in no way constitutes financial advice. A featured listing does not constitute a recommendation or endorsement. The LexaTrade trading platform has a classic, minimal look to it with few attention grabbing graphics or images. Like all investment opportunities, trading Forex and CFD involves risk of loss. Here index options at LexaTrade, we provide you with access to an education centre, risk-management tools and a customer support team. Trading in Forex/CFD carry a high level of risk to your capital due to the volatility of the underlying market. Therefore, you should ensure that you understand the risks and seek advice from an independent and suitably licensed financial advisor.
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It merely denotes oversight by the financial regulator, the International Financial Services Commission of Belize . LexaTrade fails to do so, and together with the lack of transparency over security, raises concerns at this former binary options broker. LexaTrade uses the famed MetaTrader4 platform to its wide client base. This platform is considered as a classic in foreign exchange trading since it allows beginners and experts to make sophisticated and informed decisions via its various features and tools.
As with many other platforms, LexaTrade has a number of different account types on offer to suit various trading needs. This includes Basic, Silver, Gold, Platinum, and Diamond account types.
The platform is pretty simple, customer service is good and I joined a few webinars where I actually https://lexatrade.vip/en/ learned something. I looked around but didn’t find another broker that offers better.
While initially LexaTrade became famous by offering binary options, their latest endeavours, starting in 2017 are taking them into CFDs trading arena. LexaTrade is an increasingly popular trading site, particularly https://lexatrade.vip/en/ for those interested in binary options trading. This LexaTrade review analyses whether this broker is an advisable one to use. Furthermore, LexaTrade takes its regulatory status with the utmost sincerity.