Therefore, if you are used to Metatrader, then use it, because LexaTrade provides it for free. Money from cards can be deposited not only in EUR and USD, but six more currencies are also available.
The broker requires a minimum deposit of $100 and follows standard KYC practices such as obtaining proof of identity (government-issued passport or ID) and proof of address . LexaTrade does not offer its brokerage services to clients from the United States, Congo, India, South Africa, Belgium, and Cyprus. The Basic and Black accounts of LexaTrade allow swap-free for those who abide by Sharia Law. All three of the LexaTrade accounts allow hedging and have zero deposit fees. Whilst most of our data has been verified directly from these brokers, it can occasionally vary. We are not responsible for incorrect or outdated information within our online trading broker reviews and you should confirm all data directly with the broker. Rates, terms, products and services on third-party websites are subject to change without notice.
An overall LexaTrade review shows us a company that managed to increase client portfolio to over a million customers. There are stable trading conditions and a global proposal suited to worldwide clients. The broker relies on Swiss expertise in finance and provides an opportunity to engage in trading to almost any resident, due to their regulation by the EU authority and other additional registrations. In this day and age, I don’t think there’s any excuse for a trading platform not to offer a mobile app and I’m pleased to say LexaTrade do. They offer a proprietary trading platform, along with MetaTrader4 and MetaTrader5, and offer commission-free trading, raw spreads and a good selection of investment/trading options. Thank you for taking the time to write this amazing review Iman! We really appreciate it and we are delighted to hear that you are enjoying your LexaTrade Experience so far.
To start trading, you need to replenish your account with $3,000 or more. Index spreads are zero, spreads for other instruments start at 1.1 pips. The user gets a personal manager, access to exclusive webinars, VIP alerts on Telegram, performance statistics in Autochartist, and premium trend analysis lexatrade forex broker tools. The terms of the classic LexaTrade account did not attract me at all, but VIP and Raw did. It was necessary to find out which of them could bring potentially higher income. At the same time, I traded from both accounts and realized that the trades opened on Raw bring more profit.
Does LexaTrade Have Fees?
We found it to be very user-friendly, modern looking and comfortable to use. There is a large selection of over 20 crypto pairs, enabling you to trade market-leading cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Ripple, Dash and more. LexaTrade black account holders can request 1 on 1 coaching with a LexaTrade professional analyst. The economic calendar displays the latest economic news releases along with the level of impact they are expected to have. You can filter the results based on date, category, country and impact. News releases are often used as part of fundamental analysis.
In Europe, LexaTrade Holding PLC is operating under the MiFID and is registered in the EU Member State of Cyprus. LexaTrade is fully licensed and regulated by the Cyprus CySEC, Germany’s BaFin, the USA NFA and Mauritius FCA. For accounts opened via any entity of the lexatrade courses scam LexaTrade Group, there is a default Negative Balance Protection mechanism in place, for the sake of no negative balance. With NBP, LexaTrade customers are protected from any losses bigger than their original investments, in cases of extreme market volatility.
If you are looking for Forex brokers to trade currency pairs on global Forex markets LexaTrade offer over currency pairs. A minimum deposit is the minimum amount of money required by LexaTrade to open a new online brokerage account with them. Investing online can be just as risky as any other kind of offline investment. As with any investment, it is important to know and research the company you are dealing with.
Is LexaTrade Legit
Currently, LexaTrade offers financial services in over 186 different countries around the world with 10 local offices. As of June 2020, the broker has more than 1.5 million registered trading accounts. LexaTrade has been facilitating trade on the financial markets for over 27 years.
The difference is that this broker chose to stay in Switzerland in order to win the trust of customers and the safety of customers’ funds. If you have a higher demand for security, we think it is worth choosing. LexaTrade is a broker that offers traders from all over the world optimal trading conditions for working with Forex assets. The range of trading instruments also includes CFDs, ETFs, stocks, indices, and cryptocurrencies. LexaTrade’ clients can use the familiar MetaTrader 4, MetaTrader 5, as well as the broker’s trading platform LexaTrade Webtrader as trading platforms.
A Quick Overview Of Our LexaTrade Review:
They have to make some way, so transaction commissions and other trading fees may be higher with a low minimum deposit account. A LexaTrade Islamic account is offered, though not on the Raw account type.
Fxverify is the first of it’s kind and only publishes user reviews by verified customers with a real LexaTrade trading account. LexaTrade goes the extra mile by hosting ample educational resources, providing up-to-date market research, and supplying exemplary customer support. The LexaTrade multilingual customer support is available 24/5 via e-mail, webform, phone, WhatsApp, Telegram, or live chat. You can also get a callback option or visit the FAQ section to find the most common questions or answers. Corporate actions such as dividends and mergers will impact equity and index CFDs.
LexaTrade provides 24\5 customer service support that you can reach via phone, email, or live chat. You can contact the customer service of LexaTrade in several languages, where they will respond within minutes. The live chat of LexaTrade is the fastest form of communication since the response from the customer best forex brokers service is within seconds. In addition, you will find that the customer service answers are relevant to your topic of interest and their reply is very helpful. LexaTrade provides traders with several market research materials that allow them to research and stay updated on the trading world.
- So it’s important to answer the questions as truthfully as possible.
- Their account is popular among common people who seize their opportunity to trade with as little as $100.
- LexaTrade Forex trading spreads are not the most competitive in the market for the entry-level account, the Classic, and even the VIP account.
- Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing.
- LexaTrade takes a very long time to withdraw money from the account.
- Although there are no fees for withdrawals to credit cards, other withdrawal methods like bank wire transfers may incur fees of EUR 10 for withdrawals below EUR 100.
The CySEC license provides access to all EU markets and is even acknowledged wider. Cyprus has been very desirable as a Forex destination since 2004 when Cyprus joined the EU. CySEC tightened the leash and implemented stricter policies, but the island country remained a tax haven which has been attracting Forex magnates ever since. To hold a CySEC license, brokers are subject to the MiDF directive on capital markets which dictates the rules in the market. Under the license, companies have to provide a secure trading environment for all clients and every mistake is liable to penalty fees. The LexaTrade broker runs its business smoothly, and the fact that the broker was never penalized by CySEC says a lot about its impeccable reputation. LexaTrade found its home in one of the most prominent neighborhoods in Nicosia, Cyprus, and runs its successful business operations from there.
Reviews For LexaTrade
But wary, deposits can only be made from the client portal and deposit method and trading account must have the same name. For example, you can’t make a deposit outside the client portal, you can’t use another person’s credit card, etc. These are LexaTrade STP standart account and LexaTrade ECN account. However, before proceeding with LexaTrade real account you can start with LexaTrade demo account just to get a sense whether it’ll be worth it or not. Risk Warning – Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you are fully aware of the risks involved and the high probability of losing your money. The other platform for traditional trading uses Metatrader4 software which must be downloaded on to your computer or mobile device.
This broker deploys a reasonable fee structure for index CFDs at $2 per lot, and a 0.15% charge per share applies to equity CFDs. DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money.
LexaTrade frequently run expert-led webinars where you can increase your trading knowledge. Webinars cover a range of topics suitable for all levels of traders. Topics range from chart analysis to developing trading strategies and more. There are also hundreds of previously recorded webinars available completely free of charge. The trading signal service is exclusive to LexaTrade black account holders. To receive the signals, you need to download the Telegram app and request to join the VIP alerts Telegram channel.