Well, thanks to the broker for the demo, you can practice it without risks, and then create a real account. The Traders Union specialists have studied the trading conditions at LexaTrade for explicit and implicit commissions. No hidden commission was found and there is no trading fee for replenishment of the account, for withdrawals, and no commission is charged in the amount of EUR/USD/GBP 15 to 0.03% of the trade amount. Trader inactivity within 90 days is also subject to a commission of $22. LexaTrade is a good option for those users who prefer active trading. The leverage is small, but it is a good thing for beginners, since you do not have to go into debt if the deal turns out to be a loss. I did not notice the abnormal expansion of spreads during a quiet market, as well as slippage or requote.
These currency range from all of the major pairs which a trader would expect to find, along with many minor and exotic forex currency pairings. Trading carries a high level of risk and it is possible to lose more money than your initial investment. LexaTrade Review – Mobile Trading AppTraders also get access to a range of useful trading tools in addition to Electronic trading platform those built into the MetaTrader 4 trading platform. As a rule, regulated brokers honor all withdrawal requests and don’t manipulate market prices. Besides, a violation of any given regulatory rules could lead to the stripping of the erring broker’s regulated status. To be successful as an online trader, you need to have a genuine and reliable broker.
LexaTrade Trading Platform Options
The withdrawals are generally processed within one business day. It can take between 3-5 days for the payment to reach the trader’s bank account for international wire transfers.
This display can easily be enhanced with all the most popular technical indicators and edited to extraordinary levels with the plethora of drawing tools made available. The functionality of MT4 and its robust nature on desktop translates in a similar fashion to the web-based option. This option will no doubt appeal to more seasoned traders who have grown to know and become experienced using MT4 over the years. The broker also charges conversion fees of up to 0.5% and an inactivity fee of 22USD/20EUR/15GBP per month on accounts that have been inactive for more than 90 days.
When trading in the financial markets it can be very time consuming to find a broker that meets your needs. LexaTrade offers over 127 different instruments to trade, including over 41 currency pairs. We’ve summarised all of the different types of instruments offered by LexaTrade below, along with the instruments offered by IG and XTB for comparison.
The broker accepts all accept all major credit and debit cards, Skrill, and bank wire transfer. A good broker constitutes a good service for traders in terms of many criteria including trading instruments, deposits and withdrawals, as well as customer support. What is good for a certain trader does not necessarily indices quotes mean the same thing to you. You can decide for yourself if LexaTrade is a good broker for you or not by reviewing the criteria. In general, LexaTrade provides trading service in Forex , CFD and Indexes . As for the payment methods, you can choose between Credit/debit cards, Neteller, Skrill and Wire transfer.
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Accounts can lose money due to either not putting enough effort into researching the markets, lack of experience or not using the tools provided by the brokerage platform. LexaTrade has made an attempt to ride on the wave of social trading but as it promising as it sounds, their platform still lacks a lot of features that would convince us to trade with them.
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 scammed by lexatrade the liquidity. This charts all of the most common basic questions which traders may have and acts as a positive starting point for customer support issues.
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LexaTrade Z is somewhat comparable, although of a much more fluid and user-friendly nature. Everything about the platform is intuitive and designed to lure the trader in with its eye-catching visuals, which are super easy to navigate. With LexaTrade, even if you have not completed verification, you can still trade. Still, your deposits will be limited to 2,000 USD/EUR/GBP until you have verified your residency and identity documents. opening a live LexaTrade account, with the exception of a few additional questions and registration of your deposit method and verification documents.
Their recent change of ownership in 2017 has also breathed a sense of rejuvenation into the company. When considering all aspects of what makes for a positive broker experience, LexaTrade fulfils Swing trading many of the categories. LexaTrade offers a broad range of products across a number of trading markets. These are led by their forex offering, which includes a total of 41 currencies.
I use LexaTrade platform for almost two months now and have already taken a profit twice. However, I clearly followed the recommendations of the company’s managers and immediately verified on the site. lexatrade broker reviews Among the advantages, I will also note the smart bonus policy and low exchange fees. Still, I would like that the broker add opportunities for passive earnings, and then it will be perfect.
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And make sure you have a confirmation that any remaining fees are not due. If a clients trading account dues not have any buying and selling over a period of time as dictated by the broker an inactivity fee may be due. Depending on the type of trading account you opt for some brokers require a minimum deposit as high as 6500 GBP/USD.
- But it should be noted that there are no cent accounts at LexaTrade, and the broker is not ready to work with clients who do not know anything about currency and stock trading.
- The broker also charges conversion fees of up to 0.5% and an inactivity fee of 22USD/20EUR/15GBP per month on accounts that have been inactive for more than 90 days.
- If yes, schedule a free consultation with Wealth Recovery Expert.
- MT4 was released in 2005 by the fintech company MetaQuotes and was built on the MQL4 programming language.
- The firm was established in 2012; located in Malta where it has been regulated by the Malta financial Service Authority.
- Be aware that Different entities under LexaTrade Brand offer different trading instruments due to regulatory restrictions.
LexaTrade has two trading platforms — LexaTrade propriety trading platform and MT4. Besides lots of currency pair, LexaTrade also offers some instruments you would like to trade on, such as Forex and CFD for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose. Besides lots of currency pair, LexaTrade also offers some instruments you would like to trade on, such as Forex, CFD and Indexes for your best choice.
Moreover, we hereby warn you that trading on the Forex and CFD markets is always a high risk. According to the statistics, 75-89% of customers lose the funds invested and only 11-25% of traders earn a profit. To withdraw funds, a trader must submit an appropriate application in the personal account.