is lexatrade legit: LexaTrade Review 2022 File A Complaint Against LexaTrade Scam


Today, the broker positions itself in the foreign exchange market as one of the most successful. The review above is an example of a false claim because it links the broker to a common circumstance in trading and does not fall under the broker’s control. Market risks are one of the most important things that any trader must fully understand from the onset. As we are wrapping this in-depth LexaTrade review, the only thing I would say is to avoid this platform.

As cryptocurrency bull run gets investors’ attention, smart scams, FOMO and greed are out to get you – Economic Times

As cryptocurrency bull run gets investors’ attention, smart scams, FOMO and greed are out to get you.

Posted: Mon, 04 Oct 2021 07:00:00 GMT [source]

To get a better understanding of how brokers work, read our review onFxcryptomine,FTG Markets,Capital GMA,Kiexo. We don’t know when they will do this, but we are expecting SVG to pick up the slack and begin enforcing a set of rules to its broker’s firms, which for now are mostly SCAMMERS. It is also important to note that there has been multiple bad reports about lexatrade being scam by different individuals in different countries. One is also given the capability of viewing all trades through a singular instrument. It operates under the Swissone Group Ltd., which is based within St. Vincent and the Grenadines. The financial work of the broker complies with the requirements of FMRRC .

Trading Instruments and Conditions

The is lexatrade legit 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. One fact that’s relieving and concerning at the same time is the broker’s choice of the regulator. And if you’re unfamiliar with what IFMRRC is, we don’t blame you. Although we do daily broker reviews, we’ve never heard of it before. Of course, we cannot vouch for the accuracy of the signals but it’s a nice addition.


The action you just performed triggered the security solution. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. Lexatrade claims to prioritize the safety of its client’s funds.

Lexa Trade Review

LexaTrade is not legitimate and should be avoided at all events. LexaTrade claims to be operated by Swissone Group Ltd, a company registered in St. Vincent and the Grenadines. Our final verdict is that LexaTrade is thoroughly a scam on account of running its business without any relevant license approved by a reputable regulator. Therefore, we would recommend traders to stay away from unregulated brokers and trade with licensed brokers. Which forex trading broker is the best or safest to trade with if am to borrow money from friends/bank to start?. The best way to recover your money from LexaTrade is to contact their customer support.

scam reports

” are nothing short of slander that only benefit the competitor. But most importantly, these benefits are immediately laid out for new clients. And that’s without mentioning our hunch that the broker isn’t entirely honest.

This selection is based on objective factors such as products offered, client profile, fee structure, etc. Lexatrade scammers You can use many options for deposit and withdrawal, and they’re all free of charge. We got relevant and fast answers both on the telephone and by email. The live chat agents are also helpful and give relevant answers, however, response time was slower. Get access to major international stock indices and Oil with no commissions or requotes and no hidden mark-ups. Get direct access to a range of CFD instruments with some of the lowest spreads available on the market.

Also, this broker is connected with the semi-automated trading platform Cryptodroid which is one of the most beloved software in the trading realm. To know both sides of the equation and understand the nature of this trading solution, continue reading this unbiased post. 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.

After you download the MT4 mobile trading platform, you have to select the relevant server, e.g. First and foremost, it’s important to note that LexaTrade is not a regulated broker. Regulated brokers are required to follow strict rules and regulations to protect the interests of their clients. They must also keep their clients’ funds in segregated accounts, which means that the clients’ money is kept separate from the broker’s own funds. This segregation ensures that the clients’ funds are protected in the event of the broker’s bankruptcy. XCritical’s trading platform quickly gained popularity thanks to its innovative features that expanded our traders’ capabilities.

To find out what the acceptable range is for fees, commissions, and spreads, you can do some research on the web or talk to our experts. 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.

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. Within a few years of its establishment, LexaTrade expanded its services to different countries around the world.

LexaTrade Withdrawal

Commodities market is a great opportunity to diversify portfolios. It is also seen as long-term investments because of its steady and highly-profitable trading. I have just started, so far I am good with the trading tools.

  • Lexatrade is new forex and CFDs brokerage that primarily operates in Europe.
  • Also, check which brokers got the warning from the Italian regulator CONSOB.
  • Simple trading features and modern high-speed trading platform.
  • For the opening of a CFD trade, you do not buy directly the underlying asset, scammed by lexatrade but only the contract to that value.

We recommend researching a wide range of sources before using these services. Topics around the financial markets are explained well and the videos are both entertaining and educating. Perhaps the best part is that anyone that signs up with them can watch the tutorials and there are no hidden clauses. But Lexatrade is severing the whole world through its website. It is registered in Saint Vincent and the Grenadines which makes no sense. Review

Just keeps draggging day.still my money is stuck in lexatrade. I was supposed to get money on 5th December as per account manager. To top it all off, they have no apparent trust issues and enjoy an excellent reputation. That covers one of the primary concerns with online brokerages. What we found impressive was that their support team was active even outside their own website. They are quick to respond to many different review websites and eager to help users with their issues.

Is Bitcoin Loophole a scam? Everything you need to know about this crypto trading software – Republic World

Is Bitcoin Loophole a scam? Everything you need to know about this crypto trading software.

Posted: Fri, 19 Mar 2021 07:00:00 GMT [source]

Brokers required various licenses and regulators’ approval to serve investors and traders. Lexatrade offers personal account managers to its users and they help in trading. Hope the above information is enough to know the basics of LexaTarde, account types, its services, fees and referral program. 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. 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.

You are unable to access

This pump and dump strategy is illegal and Fund Recovery Experts are well-versed in filing claims in such cases. While trading, it is immensely important to identify a broker that is reliable and legit. But, there are some reasons why we have tagged this LexaTrade Review in our scam broker 2022 list of scam brokers. While we cannot fully dismiss the possible fraudulent activities, we also have to take into account their reliability and if these claims have substantial bases. To neutralize the backlash that LexaTrade faces, attached below are two positive reviews taken from the web. As for the disadvantages it carries, its reputation is tainted mainly from the absence of tight regulatory oversight.

Complaints on a forex broker or a forex scam should be posted here, BrokerView will deal with the case. Here are some of the possible reasons why we have flagged this broker as a scam broker in this LexaTrade review. Bonuses and incomes will only be withdrawn when a trader reaches a certain volume of trades. We’re not sure what LexaTrade broker means by saying “a free trial account with profit”.


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. Comprehensive evaluation of LexaTrade’s offers and services.

We know some brokers like to take that approach, and it usually works moderately well. However, the translation itself is shoddy, so the website ends up looking unprofessional. 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.

Therefore, both beginners and experienced traders can find what they want to trade on LexaTrade. While choosing a broker online, the regulation status is one of the most critical points. Here, LexaTrade seems not to be regulated in its jurisdiction of operation and is indulged in scam activities. There is a high possibility that the broker has been warned by reputed regulation authorities like CySec, ASIC, FCA, CNMV, FINMA, etc. Warning issued by any of these authorities clearly indicated that the broker is not a good fit to invest your hard-earned money with.

Deja una respuesta

Tu dirección de correo electrónico no será publicada. Los campos obligatorios están marcados con *