Scam Forex Brokers

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150 150 Miguel Ángel Martínez

The technical analysis helps the traders to predict the future trends of the asset they are trading. Alongside the technical analysis, the broker also provides an extensive fundamental analysis that allows traders to study the factors and events that influence the price of an asset. The platform is unique in that it was intended to help lexatrade forex broker people trade and invest smarter. These webinars and lessons allow traders to learn more about trading before—and while—they participate in CFD and forex trading. You can even use their advanced interactive ebook to learn more about trading and test your skills. Sign-up bonuses are one of the things that make LexaTrade stand out.

LexaTrade forex broker

The Diamond account offers a truly premium trading experience with a dedicated live chat line as well as the most competitive trading rates of all the account types. You get juicy incentives, such as gifts and bonuses once you open an account, trade, or upgrade to keep you in their euro dollar forecast tentacles. These brokers set unfair trading conditions, charge expensive hidden fees, and frustrate any efforts to withdraw your money. LexaTrade is a good try for beginning traders as it provides a startup account that features a good set of educational resources for trading.

The platform interface has a wide range of choices to choose from, and it uses the latest technology to deliver the best services to its clients. The user-friendly platform makes it easy for users to invest wisely without missing any opportunities that arise within the markets. Since its break from binary options trading, LexaTrade has become a unique broker, enabling both experienced and newer traders to participate.

Fund Your LexaTrade Account

Too little too late, I realized that I had been scammed, and all he could say was “I am sorry”. This broker is based in Cyprus and the main company is in Belize. Let other traders know if this service is worth checking or should be avoided.

LexaTrade forex broker

With its MetaTrader 4 platform offering coupled with an expanded customer support service, LexaTrade is a decent broker option. LexaTrade likes to keep things interesting for their clients and therefore offers various promotions to entice traders to keep trading. Traders can participate in various competitions where they can win cash prizes and other things like tickets for Arsenal or Juventus football matches through company sponsorships. Other promotions and bonuses include gifts such as laptops, TVs, and other electronics. These bonuses are rewarded for certain amounts of trading volume and or deposit bonuses.

It is to the opinion of the review team that these instruments allow for the building of strong and well-rounded investment portfolios. Withdrawals are also charged a 3.5% fee after only earnings on forex the first withdrawal. Another thing that may be seen as a point against the firm is its lack of a guaranteed Stop Loss in trading endeavours that are being transacted within France.

Trading Terms

This makes it much easier to calculate your trading costs, as you only need to pay attention to the spreads. You may incur withdrawal and inactivity fees, however, yet these are clearly stated when you open an account and deposit. You may find more information on applicable and processing fees at the official LexaTrade website. Note that, E-wallet users also need to send a screenshot of their account profile page. Documents can be uploaded to the platform or can be sent via email to Processing of documents can take up to 3 days. Any withdrawals requests are being processed without any undue delay if the account is duly verified.

LexaTrade is an increasingly popular trading site, particularly for those interested in binary options Currency market trading. This LexaTrade review analyses whether this broker is an advisable one to use.

Master The Markets With LexaTrade

He used very aggressive marketing, and unfortunately I was trapped between closing the trades at a loss, or believing him that the trade would eventually become a profit. When I realized that my money was just disappearing before my eyes, I would close the trade on my own, and he would be very aggressive and say “Never close a trade on a minus”. It needs to be redesigned and display its offerings more orderly. It also needs to be more transparent in its offerings and services in such a way that visiting investors can easily browse their trading services. LexaTrade provides a variety of options for replenishing and withdrawing funds from traders’ accounts. Some of them include Visa, Skrill, Mastercard, Qiwi, AstroPay, Perfect Money, Neteller, and bank wire transfer.

We have reviewed the top forex brokers on the market today and come up with a list of select few. All the brokers are regulated and offer competitive trading services on state of the art trading platforms. LexaTrade offers a deposit bonus of up to 50%, but the terms and conditions remain excessive. Asking clients to trade 20,000 times the bonus amount within 90 days before unlocking it as a withdrawal incentive is another binary options leftover, pressuring more trading activity. It is best to avoid this trap set by this broker and dismiss it as another counter-productive service. LexaTrade began its journey in the now-defunct binary options market.

Furthermore, their customer service department responds quickly via live chat, which is very helpful. Overall, this broker makes a decent choice for both novice and seasoned traders, especially if binary options and multi-asset trading is desirable in addition to a wide range of currency pairs. The amount for opening a live account at LexaTrade requires a minimum initial deposit of $250. Accounts can be funded through debit and credit cards, numerous electronic payment services, and through a wire transfer. The maximum leverage on LexaTrade accounts for forex trades is 200 to 1. A comprehensive all-round trading experience for registered clients.

  • The customer service department at LexaTrade offers 24/7 live chat and email support, in addition to telephone assistance in 12 different countries.
  • adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence.
  • It prompted CONSOB to take further action and blackout the trader’s website within the country.
  • You would do well to utilize their services if you want a large asset list to pick from and long-term support.
  • LexaTrade offers Forex, cryptocurrency, equity, commodity, and index CFDs.
  • Along the aforementioned differences additional perks, like trading alerts and educational resources are the features coming with the more upscale account types at LexaTrade.

It also gives traders the option of going short or long on assets, and since they are derivative products, traders choose CFDs to avoid stamp duty. MetaTrader 4, shortened to MT4, is one of the most popular trading platforms that people prefer for CFD and forex. LexaTrade integrates advanced trading tools to the platform to ensure you get real-time results when spot trading.

Ption Com Is Not Included In Our List Of Recommended Brokers.

While LexaTrade does not mention deposit fees, withdrawal fees remain elevated. LexaTrade maintains no unique features, lexatrade but the consistent lack of transparency and missing introduction of core trading elements are noteworthy.

LexaTrade forex broker

For operations within Europe, LexaTrade is regulated by the Cyprus Securities Exchange Commission under the CIF license no. 207/13 issued to Rodeler Ltd. For operations outside of Europe, LexaTrade comes under the jurisdiction of the International Financial Services Commission of Belize. The authorization is issued to Richfield Capital Limited under the IFSC registration number IFSC/60/440/TS/15-16. Their regulatory history suggests that they are a responsible company.

Deposit & Withdrawal

Award Winning Technology – easily accessible platform with a high-speed and secure connection. Multi-Device Mobile Access- live data streaming and quality of trade execution. LexaTrade accepts traders from Thailand, South Africa, Singapore, Hong Kong, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries. LexaTrade is a reliable broker as it is regulated in multiple jurisdictions. In addition, the broker has established a reputation as being one of the leading names in the industry. Currently, the firm has a wide selection of underlying assets for their clients to choose from. In total, there are more than 130 different types of underlying assets.

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