This lack of transparency raises concerns about the reliability of LexaTrade. A simple online search reveals a plethora of customer complaints and negative reviews about LexaTrade. Users have reported issues ranging from difficulties withdrawing funds to unexpected fees and unresponsive customer support. Many traders express frustration and regret for choosing LexaTrade as their trading platform, indicating a consistent pattern of dissatisfaction and potential malpractice. The charges are higher compared to the platform we have reviewed so far.
- If a trade position is kept open and carried over to the following day, a commission will be charged to the trading account for using the credit.
- A mobile platform is available but Demo accounts are not; US traders are not accepted.
- Lexatrade has provided very less information about its organization.
- Lexatrade offers the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms.
LexaTrade Account Types
The organization obtained roughly $3 million of contraband cigarettes and stole credit card information to make new fraudulent cards as well, according to the indictment. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. Claim your profile to access Trustpilot’s free business tools and connect with customers. So don’t use this platform and research well before choosing a such platform.
Editor’s Note: Why LexaTrade Doesn’t Suck in 50 Words
LexaTrade’s unregulated status raises doubts about its commitment to transparency and accountability. When choosing a platform, caution is warranted if the company lacks regulation by any overseeing agency. This should serve as a warning that your funds may not be secure, and there’s no protective regulatory framework. Unregulated entities can potentially abscond with your money without being held accountable. There is no fee to open an account and the fees for deposits and withdrawals are not specified anywhere on the website.
The broker doesn’t hide the fact that it’s trying to goad you into depositing more. Even the withdrawal speeds increase as you go up to the higher accounts. LexaTrade customer support is very impressive as it offers full-time support with 24/7 operating hours. The broker can be reached through multiple channels, including phone line and email. The lexatrade scam support team is problem-solving and responds quickly, so the overall communication with the team was great.
Each account type comes with its own set of perks, with the higher account types offering the best perks and benefits. We use dedicated people and clever technology to safeguard our platform. They even have affiliates who individually promote platforms to others and force them to invest maximum money. Members also engaged in health care fraud by having doctors issue unnecessary prescriptions for expensive compound cream, court papers say.
As per LexaTrade conditions, if the referred client makes a deposit between $500 to $10,000, then 50% of it will be the referral bonus. LexaTrade charges a service charge of 5% when customers has made less than 5 independent transactions. LexaTrade provides access to popular cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and more.
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These platforms are popular among traders due to their advanced features, which are defined below. 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. Several red flags surround LexaTrade, fueling suspicions about its legitimacy. Reputable brokers typically operate under the oversight of financial authorities to ensure compliance with industry standards and the protection of traders’ interests.
EvenInsight.com is a venture of Even Insight Technology and a website for cyber security and analysis. With the collaboration of multiple security partners, EvenInsight provides the detailed evolution of each website which empowers users to identify potential scams. Hope the above information is enough to know the basics of LexaTarde, account types, its services, fees and referral program.
LexaTrade: Navigating Your Financial Success Journey
The commission is based on the size of the transaction and ranges from 0.005% to 0.015% for most instruments, while it is 0.5% for cryptocurrencies. Of course, we cannot vouch for the accuracy of the signals but it’s a nice addition. Overall this is a promising broker but a few tweaks here and there would make it a better one.
After obtaining the initial deposit, more experienced scammers may be brought in to extract additional funds. The cycle persists, but it is possible to put an end to it, even if you’ve fallen victim to their deceitful promises. Lexatrade offers the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms.