Is LexaTrade a Scam? Read This Brutally Honest Review

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 broker has a low user rating of 2.1, which clearly shows the platform’s low credibility. While looking for the platform on Trustpilot, we went through many complaints, which indicate LexaTrade is a scam. As a forex trading platform, LexaTrade is legal in India. However, it is an offshore broker restricted to operating in the US and Europe. In order to attract more traders on the platform, LexaTrade often starts promotions. The bonuses and the promotion programs look generous.

• Reviews are updated regularly to ensure that every trader has the most up-to-date information before making a choice.
• Lexatrade has launched a universal course for investors with any experience.
• And has global presence with headquarters at Beachmont Business Centre, Suite 39, Kingstown, Saint Vincent and Grenadines.
• All Ip’s are checked and marked for further inspection.
• A bunch of cheaters who have looten thousand of ppl till now n this may be ascertained from the reviews.

That being said, caution should be used anytime money is involved, with all brokers, old or new. Its fraud company, dont upload money with this portal. I have uploaded some moeny and post that they have locked my amount and i am nither withdraw nor able to trade. They are asking more money to upload to enable my account and not returning the amount that i have already uploaded. On the other hand, the Web platform offered for the minimum account is quite enough for the average trader, so maybe that’s not a deal breaker. The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client.

LexaTrade Review: Customer Support

The lexatrade offering is appreciable but it still lacks at some points. 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. Yes, the broker offers trading services across the globe with a focus on countries like India, South Africa and most of Asian countries.

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.

LexaTrade Review: Available Leverage Ratio

The broker has a lot of complaints and the majority of negative LexaTrade reviews can be found at Trustpilot. Detailed Lexatrade review 2023, you have likely noticed the platform has not much to offer to its users. However, zero fees on the trades is still the USP of the platform. At our webinars, you get information directly from market professionals. You can watch the experts trade, get answers to your questions and comments on trading strategies. Every single one of our instructors has gone from a beginner to a practicing trader.

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.

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.

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Today my balance was USD821 and free Balance was more than USD550. On request for withdrawal of USD 400, I was advised to open a del in sell segment of Natural Gas with USD196 than my entire balance gone negative. Even the personal manager engaged for help do not bother for small traders.

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. This platform is the worst I have ever gone through. A bunch of cheaters who have looten thousand of ppl till now n this may be ascertained from the reviews. They make false promises and convince you to invest money with a minimum amount of $250 once u visit the site. They will do registration before even u cud understand them.

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.

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.

All early signs show that LexaTrade is not a scam but keep in mind this is a very new CFD broker. This is not the case with LexaTrade and thus far we consider this CFD broker a reliable partner for your trading needs. After analyzing the detailed LexaTrade review, we can say the company is totally a scam. The minimum withdrawal amount on LexaTrade is $ 50. The company charges a service charge of 5% if users make less than 5 independent transactions. Meanwhile, most of the complaints are related to the LexaTrade is a scam and accounager who force clients to make more deposits.

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.

xCrictical Mobile App

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.

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. There is no fee to open an account and the fees for deposits and withdrawals are not specified anywhere on the website.

There is no mention of an inactivity fee but we cannot guarantee that you won’t be charged one. Live chat support was available at the time of our visit but a bit slow to answer. The website is translated in 6 languages, the platform is relatively easy to use and offers all the features needed by an average trader. A mobile platform is available but Demo accounts are not; US traders are not accepted. 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.

The sphttps://forexhero.info/s 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.

Instead of falling for the LexaTrade scam, we recommend you to start with a more trusted platform like InvestFW. Yes, LexaTrade is a scam broker as it is not regulated by any top tier regulatory watchdog. For us, the results of our students are super important, so every webinar will present case studies based on real-life situations! We make sure that for every 20% of theory our students are given 80% of practical examples that are bound to come in handy in real trading.

Of course, we cannot vouch for the accuracy of the signals but it’s a nice addition. LexaTrade is a newly launched, regulated broker that offers CFD trading on currencies, cryptocurrencies, indices, and commodities. The owning/operating company is Swissone Group Ltd, located in St. Vincent and the Grenadines and registered with the IFMRRC – Certificate TSRF RU 0395 AA V0165.