Lexatrade Review Is it good, or is it a scam?

Lexatrade Review Is it good, or is it a scam?

Later they said that the amount was too low for a trade so I left the money there only to find later that the money has disappeared. 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. Fill the form below or Use our Chatbot and get a Free Consultation from CNC Intelligence Experts, they can assist you by investigating your case and tracing your funds. You should also contact your bank as soon as possible and let them know about your issue. The variety of instruments allows traders to diversify their portfolios, but the depth and range are average compared to industry leaders. But considering various reviews, we found that their so-called experts have very less knowledge and most trade signals are loss-making.

Lexatrade Reviews

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. Furthermore, while there are some solid conditions, they all come with high price points. And if you’re already depositing that much, there are many brokers that do what Lexatrade does but better. So there’s the argument that some regulation is better than none, and that does hold up.

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. 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 website is translated in 6 languages, the platform is relatively easy to use and offers all the features needed by an average trader.

It is registered in Saint Vincent and the Grenadines (A small country in the Caribbean), a kingdom of thousands of shell companies. Within a few years of its establishment, LexaTrade expanded its services to different countries around the world. There are way too many categories on lexatrade.com, and navigating around the website is challenging.

Good trading experience

LexaTrade fails to provide any information about its staff on its website and promise fake returns. These deceptive practices raise significant doubts about the credibility and trustworthiness of this platform. Claim your listing for free to respond to reviews, update your profile and manage your listing. Lexatrade has provided very less information about its organization.

• IFMRRC stands for International Financial Market Relations Regulation Center.
• ⚖️ If you’ve invested in LexaTrade and are experiencing withdrawal issues or suspect fraud, don’t panic—CNC Intelligence is here to help.
• This Bill will help to deliver fairness for both hospitality venues and their customers in this area, and we look forward to working with Government to achieve this.
• However, that’s a minor complaint, as what you get for each account is actually pretty fair for the price point.
• Live chat support was available at the time of our visit but a bit slow to answer.

How can i recover my money from lexatrade?

• This should serve as a warning that your funds may not be secure, and there’s no protective regulatory framework.
• They are capable experts with the ability and instruments to detect a con artist and get your assets back.
• 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.
• While the broker claims to offer reliable support, user feedback often highlights delayed responses and unhelpful interactions, particularly for withdrawal-related issues.
• As per the whois data, the domain Lexatrade.com was registered in September 2018, and according to similar web data it has around 13k monthly traffic from Kenya (60%) and India (26%).
• Besides, LexaTrade’s Web platform offers all the tools that can turn a skilled trader into a profitable trader.

Lexatrade has five different account types covering budget and high-end options. The broker uses a tiered account progression where each type requires you to reach a specific threshold. The cheapest option is $250 while the most expensive is $100,000. Again, as we said earlier in our Lexatrade review, the broker doesn’t do anything that sets off alarms. It’s by no means a strict scam, and in fact, it’s safer than the average broker, but you still need to tread carefully.

Misleading Claims and Questionable Policies

Also keep in mind that the company is regulated (IFMRRC), which is not the fiercest of financial watchdogs, but any type of regulation is better than no regulation at all. It offers a diverse range of payment options ranging from bank wire transfers to credit/debit cards, from Skrill to Neteller. LexaTrade has gained recognition as a reputable multi-asset broker by providing quality services and financial instruments to its clients. Lexatrade has potential, but it also has a lot of things bogging it down and making numerous questionable decisions. The asset access is limited, your withdrawal requests are low priority, and the spreads are extremely high.

Range of Markets, Spreads and Leverage 16/20

The support team is problem-solving and responds quickly, so the overall communication with the team was great. LexaTrade is a global online trading platform offering a range of financial instruments, including forex, commodities, indices, cryptocurrencies, and stocks. It aims to attract traders with promises of high leverage, multiple account types, and extensive educational resources. However, LexaTrade has been the subject of mixed reviews due to concerns about its regulatory status and business practices. Lexa Trade allows global traders to access financial markets, including Forex, Stocks etc. However, the broker has a low user rating, with mixed reviews as some complain about the platform while others appraise it.

It highlights intuitive tools, automated trading strategies, and the potential for high returns with minimal effort. LexaTrade offers competitive spreads, with forex pairs starting from around 1.5 pips. However, fees and spreads may vary depending on the account type and the asset being traded. The spread on major currency pairs such as EUR/USD is relatively low, but the spread may widen for less liquid assets. One of the first things traders look for when choosing a broker is regulation and security. Regulation ensures that the broker adheres to strict financial rules and guidelines, which ultimately protects traders’ funds and personal information.

How can i withdraw from my lexatrade account?

It turns out that almost ALL negative reviews were written by scamers advertising their scam chargebacks. Kingsley Cole, A young and brilliant guy, called me and gave me the details via skype video call, email and normal call, I adhere to what he told me and I am experiencing it in a positive way. We provide broker reviews lexatrade review and ratings to help users find a suitable broker according to their own needs. However, you must do your own due diligence and make your own decisions when choosing a broker. This compensation should not be seen as an endorsement or recommendation, nor shall it bias our broker reviews.

This is an area where caution is advised, as regulatory oversight is a critical part of ensuring the safety of your funds. This broker offers a balanced mix of functionality and user-friendliness. And besides, if you really want to do advanced technical analysis, LexaTrade offers Meta Trader 4 so you can have the best of both worlds. At first glance, LexaTrade appears to be an attractive option for both novice and seasoned cryptocurrency traders. The platform promotes itself as a simple, user-friendly way to trade popular cryptocurrencies like Bitcoin, Ethereum, and more.