LexaTrade Review 2024: Is It A Scam? Unbiased Review

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This includes video courses and E-books, similarly the questionnaire section offers the questions related to customer’s feedback on the platform. We are here to conduct a comprehensive evaluation of LexaTrade’s offers and services for the most
in-depth and unbiased verdict. They may ask you for more and more money and never return a single penny of your earnings. First and foremost, report the incident to your local authority department. If no resolution can be reached, there is still hope to recover your funds from LexaTrade by attempting to open a chargeback case with your bank or credit card provider. There are a lot of brokers out there operating under fake company names or that have other fraudulent operations.

The financial products offered by the companies listed on this site pose a high risk and can lead to the loss of all your funds. When trading stocks, CFDs, or other derivatives, consider whether https://cryptolisting.org/blog/what-is-inventory-turnover you understand the function of differential contracts and be aware of the high risk of losing your funds. And that’s without mentioning our hunch that the broker isn’t entirely honest.

  • The same goes for visuals, as the various elements are glaringly mismatched.
  • However, it is an offshore broker restricted to operating in the US and Europe.
  • Cheapest and most expensive aren’t the most precise terms, as there’s no actual cost attached to the account.

However, the broker has a low user rating, with mixed reviews as some complain about the platform while others appraise it. So, to help you out in deciding whether it’s a worthy broker, let’s take an in-depth look at the platform with our detailed LexaTrade review. Brokers Complaint is always trying to find different scam brokers present in the market as well as the new emerging scam brokers to warn traders. Through LexaTrade review our aim is to warn traders not to trade with this broker because this broker is suspected to be a scam according to the research done by our team. The support team is problem-solving and responds quickly, so the overall communication with the team was great. MT4 is one the world’s most famous and reliable trading platforms for Forex.

How To Withdraw From LexaTrade?

The broker’s offer does actually seem decent enough, but the presentation isn’t up to par. We’ll see if the broker’s functional prowess ends up improving what we think. Here you get assistance perceiving a scam broker before you are excessively profound into it. At whatever point you are in question about any dealer, the best practice is to let the asset recuperation experts help you. They are capable experts with the ability and instruments to detect a con artist and get your assets back. To prevent falling victim to scams in the future, always ensure that you deal with legitimate companies that are fully regulated by major regulators, such as the FCA.

  • Active customer support assists in determining more trust in the company.
  • If the broker doesn’t hold any license, then there must be a risk of scam.
  • After making the initial deposit, victims are transferred to a more sophisticated scammer known as a “retention agent”, who takes more money from unsuspecting victims.
  • And even then, you only get the web version, and you need the $50,000 account for the full unlock.

If this doesn’t work, traders can raise a complaint to IFMRRC, the regulatory watchdog of LexaTrade. The broker has a low user rating of 2.1, which clearly shows the platform’s low credibility. While looking for the platform on Trustpilot, we went through many complaints, which indicate LexaTrade is a scam.

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However, withdrawals may take a bit longer, usually about 3-5 business days to process. This is to provide the necessary time for necessary transaction procedures. This is another RED FLAG, because these types of websites are notorious for fraudulent schemes.

LexaTrade Review: Fees, Commission & Spreads

The case with its funding is much of the same, as there are some things that look good. For starters, there’s the fact that the cheapest account doesn’t require a huge deposit. LexaTrade is a newly launched, regulated broker that offers CFD trading on currencies, cryptocurrencies, indices, and commodities.

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After making the initial deposit, victims are transferred to a more sophisticated scammer known as a “retention agent”, who takes more money from unsuspecting victims. The promotion is applicable for deposit amounts ranging from $500 to $5,000. The insurance covers upto 100% of total loss on all trades opened on the deposit day.

It’s essential to recognize that, albeit rarely, minor fluctuations may arise. Please be assured that our dedication to delivering unbiased assessments, exhaustive scrutiny, and well-informed perspectives remains resolute. Fraud Recovery , Forex fraud recovery and Crypto Scams recovery are possible. Also, scammers, as you read in this ASR review, are famous for not withdrawing your money. So there’s the argument that some regulation is better than none, and that does hold up.

LexaTrade Review Conclusions

It seems like the website wasn’t designed in English, but rather translated from another language. 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. Yes, the broker offers trading services across the globe with a focus on countries like India, South Africa and most of Asian countries. Investing your money with anonymous platforms not only puts your money at risk. Your data may fall into the wrong hands attracting criminal activities during the registration process.

Many regulated brokers allow $50 and even $10 as minimum deposits, so maybe you should pick one of those. On the other hand, if you are confident in your abilities and $250 is not a lot for you, then LexaTrade may be a good choice. The charges are higher compared to the platform we have reviewed so far. The spreads vary on the account type and the  instrument traders trade in.

ACCOUNTS OFFERED BY LEXATRADE

A fundamental examination can go far in securing you and your accounts. Managing financial firms approved or enrolled by legal authorities gives you more prominent assurance assuming things turn out badly. Once this confidence is established, the investor will be marketed the idea of investing more money to earn greater returns.