Content
LexaTrade withdrawal fees vary depending on your selected withdrawal payment method. This LexaTrade review was written by industry experts with over 20 years of financial experience in Forex, CFDs, Social Trading. Marcus founded BrokerNotes in 2014 after trying hard to find a broker for himself to trade and struggling to compare brokers like-for-like. lexatrade reviews This site provides unbiased reviews and may be compensated through third party advertisers. This compensation is not an endorsement or recommendation and TheForexGeek.com is not responsible for these websites. Whilst most of this websites data has been verified directly from external providers, it can occasionally vary.
Traders Union is a site that allows you to follow all the news of the Forex market as well as promotions of Forex brokers, receive the most comprehensive analytical studies, and share your experience. Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about LexaTrade you need to go to the broker’s profile. Also, in your personal account, you need to enter all the data about yourself; to confirm your identity, you will also need a scan of documents.
EagleFX offers leveraged trading on a range of assets within its platform. CFD and Spot Forex trading do carry a degree of risk which may result in you losing more than your initial investment.
The bonus is awarded for each trade, regardless of whether it was profitable or unprofitable. If you already have an account with LexaTrade, you can link it to your Traders Union account by following our instructions, which you will find here. There are two types of trading platform at LexaTrade, the uniquely innovative, Social WebTrader and the MetaTrader4 trading platform. Traders can choose either of the trading platforms to trade 200+ forex and CFD financial instruments in cryptocurrencies, commodities, indices and stocks. Traders can access either trading platform by adjusting the settings in their trading accounts. LexaTrade is a world-famous regulated broker that takes your trading to the next level. It allows you to trade forex, crypto, stocks, options and much more on its award-winning platform.
CFDs and cryptocurrency trading entails significant risks and there is a chance that potential clients lose all of their invested money. Deposits made by clients to their LexaTrade trading accounts are not charged a fee by LexaTrade. However, fees may be charged by intermediaries such as banks and payment processors. Withdrawals up to £$€10,000 made to credit cards and bank wire transfers are charged a $£€15 flat fee on each transaction. Withdrawals exceeding £$€10,000 are charged 0.15% of the amount of the transaction. We saw that withdrawals using other payment methods are charged 1% of the amount of the transaction or a minimum fee of £$€15 if the percentage fee would amount to less than £$€15.
Customer Support At LexaTrade
LexaTrade stands head and shoulders above many other trading platforms in the sense that it is a social trading platform. In today’s times, the ability to interact with fellow traders, see their trades and then copy their trades is increasingly important.
round-the-clock support – a trader can turn to professionals for help at any time of the stock market day. LexaTrade allows the execution of automated trading systems through Metatrader 4 .
Accounts
Credit card deposits are capped at $5,000 per deposit and $10,000 per day. All withdrawal requests are processed on the same or following business day and has a flat fee of $20 per withdrawal. Given the above negative reviews, glaring irregularities, and professional misconduct, we find it hard to recommend LexaTrade as a genuine forex broker.
LexaTrade support a wide range of languages including English, Russian, German, Italian, Spanish, Chinese, Portuguese, and French. Finally, we’ve listed some of the popular funding methods that LexaTrade offers its traders below. LexaTrade also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move. Like most brokers, LexaTrade takes a fee from the spread, which is the difference between the buy and sell price of an instrument.
Vetted by multiple industry experts – including a financial research firm with more than 20 years of experience in broker ratings – Our Broker Ratings and Reviews embody industry best practices for research design. Taking this into account, along with the fact that their process of registering to trade is extremely streamlined, LexaTrade can be considered a very good option for traders who wish to jump right into the sector. This convenience and the social aspect of the broker are elements that will satisfy both new and experienced traders.
If you are interested in trading with LexaTradein any capacity please take the time to read and research the whole LexaTrade review. The firm also states that it doesn’t require any fees on trading. Furthermore, the broker claiming the spreads begin with zero-point-nine pip; and expand on the liquidity. You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process. As with most brokers, margin requirements do vary depending on the trader, accounts and instruments.
LexaTrade.com doesn’t offer any bonuses or promotions to traders in keeping with regulatory requirements. A comprehensive library of video tutorials covering every aspect of trading Forex and CFDs, from the basics to advanced topics like technical analysis and the use of indicators in your trading. Traders with LexaTrade enjoy the peace of mind that comes from knowing their trading is safeguarded by our Negative Balance Protection, protecting their trading accounts from falling into negative territory.
Is LexaTrade Safe?
It has a large number of traders that can be followed and copied, including experienced traders with profitable trading strategies. LexaTrade was running a $25 welcome bonus program, and customer support representatives should be contacted to verify the current available bonus offer. Live chat to a help line, is available 24/5 on the LexaTrade interface where customers need to give a name and email address to start a conversation. Alternatively, clients can phone a UK number given on the contact page or send an email to the support team. Before, contacting customer support, we suggest that customers consult the FAQs page. We found it very useful, covering an extensive range of topics with conveniently short, straightforward answers.
Lets explore each of these trading platforms in detail and what options LexaTrade gives ICO (cryptocurrencies) you. An account inactivity fee is a fee charged to the registered brokerage client.
- Also, it offers other services for its clients including a complete copytrading service which is fully integrated with their trading platforms and accounts.
- An account inactivity fee is a fee charged to the registered brokerage client.
- When I opened it myself, at least some plus came out, but according to the recommendations of the LexaTrade analyst, there was only a minus.
- Scan markets for trading opportunities while viewing all symbols and time intervals from a single graph.
- The Android LexaTrade MetaTrader 4 Android application enable traders to make the most of multiple advanced trading features which enables them to monitor and trade Forex quickly on the go, simply and securely.
- A copytrading service that allows LexaTrade clients to follow and copy all transactions of other traders, including experienced operators with profitable trading strategies.
Trading conditions also suit me, but the leverage is really low. Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. All reviews of LexaTrade published on the website in 2021 are verified and confirmed by Traders Union as reliable comments by real traders.
One of the most important criteria for traders when choosing a broker like LexaTrade is the regulatory body and regulatory status of the broker. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money. The maximum trade requirements vary depending on the trader and the instrument. As LexaTrade offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades. MetaTrader 4 also known as MT4 is the number one trading platform on the planet and has been in active use on financial markets since 2005.
Doing this will give you the confidence that your financial investments are in good hands. Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice.
Account Opening & Kyc
Of course, I support the idea that you have to pay for everything, but I am clearly not ready to pay $ for individual lessons and it may not be worth it. So here the conditions, in my opinion, are either for major players or idiots who are too lazy to find a more worthy option. The LexaTrade trading firm provides services for active trading and investing in assets of the financial and stock markets. The company is registered in South Africa, in the municipality of Sandton, and is regulated by the South African FSCA . There is no information on the LexaTrade website about any awards received by the broker. A complete social trading service integrated with the brokerage functions and tools of this broker. Our mission is to provide online investors with the most unbiased, comprehensive reviews and ratings of self-directed brokers.
Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold The Forex Geek and any authorized distributors of this information harmless in any and all ways. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. Hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A large percentage of retail investor accounts lose money when trading CFDs.
WikiFX doesn’t ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently. The Cyprus Securities and Exchange Commission was established in accordance with section 5 of the Securities and Exchange Commission Law of 2001 as a public legal entity. It also supervises the firms offering administrative services which do not fall under the supervision of ICPAC and the Cyprus Bar Association. If you resembling trading on-the-go then LexaTrade app for Android and Apple iOS available. The apps provide you admittance to most, but not entirely of the functionality of the WebTrader platform. Your funds are safe – SSL communication – Fully regulated broker by FSCA.
Excellent customer service that is for sure, 100 percent legitimate, and very good support, i am really happy i did not go on etoro and instead chose this amazing forex trading site. LexaTrade.com top forex brokers makes money from spreads in currency pairs as well as from fees charged relating to withdrawals and inactivity. All the services on the Tradersunion.com website are free for you to use.
This website is not responsible for any incorrect or outdated information within any of its pages and you should confirm all data and information directly. Your usage of The Forex Geek Website serves as your acknowledgement and representation that you have read and understood these TERMS OF USE and that you agree to be bound by such TERMS OF USE (“Agreement”). You accept that the agreement can be changed at any time and that you must comply with any changes made to the agreement. LexaTrade’s trading costs are considered to be a bit higher than those of other brokers. To give you the best possible experience, this site uses cookies.
Master The Markets With LexaTrade
Still, it has no presence in the US, North Korea, Israel, and Iran. Read this in-depth LexaTrade review for answers to these and more questions on this online broker’s activities. lexatrade scammers Foreign exchange, precious metals and over-the-counter contracts are leveraged products, which have high risks and may lead to losses of your investment principal.