How To Send Documents To Verify My LexaTrade Fxnet Trader Account?

The parent company of LexaTrade is Swissone Group Ltd, located in St. Vincent and the Grenadines. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. Cheapest and most expensive aren’t the most precise terms, as there’s no actual cost attached to the account. However, we can’t neglect the fact that $100,000 is a hefty sum and isn’t something anyone can reach. IFMRRC stands for International Financial Market Relations Regulation Center. It’s a non-commercial organization that regulates about 60 brokerages.

The broker can be reached through multiple channels, including phone line and email. The support team is problem-solving and responds quickly, so the overall communication with the team was great. The platform supports  bank wire, credit /debit cards, Skrill, Neteller and OrangePay for both deposits and withdrawals. The platform is somehow new in comparison to some reliable names dominating the forex industry. However, it garnered popularity among traders with its one-of-a-kind features and the services.

What is LexaTrade？

Please understand that the information on this website is designed to serve as general guidance, and that you should be aware of the risks. This enables traders to access the platform from anywhere and do it quickly, simply by visiting the GTlot website and entering their login … GTlot Review I have seen only a few brokers who realize what the customers want, while others continue to remain oblivious or ignore a trader’s needs. The login portal of the broker will provide you access to all data from your account and other tools and resources that you need for trading. Instead of falling for the LexaTrade scam, we recommend you to start with a more trusted platform like InvestFW. So there’s the argument that some regulation is better than none, and that does hold up.

There is a slight glide, but I didn’t notice a serious one, on EUR / USD there can be a glide of a maximum of 1-2 pips and then on serious news. Thanks to trading consultants, lexatrade login you can conduct remote trading using mobile gadgets and trading consultants. The LexaTrade referral program works when you invite your friend to sign up.

Spreads & Commissions

If you are looking for alternatives to LexaTrade we have compiled a list of the top 5 brokers that are similar to LexaTrade below. This list of brokers like LexaTrade is in order of similarity and only includes companies that accept traders from your location. LexaTrade also offers an Islamic account; an interest-free account that adheres to Sharia law concerning trading. LexaTrade also provides a range of decision assisting tools such as an economic calendar, live charts, trading signals, and trading sentiment. The company boasts over 20 years of industry experience and 6.4 million clients.

LexaTrade offers a proprietary trading platform, rather than using a third-party interface such as MT4 or MT5. The web-based platform is designed for use on both desktop and mobile devices. FXOpen UK are authorised and regulated by the FCA in the UK, with client money held in fully segregated UK bank accounts. LexaTrade is an unregulated brokerage firm based in Saint Vincent and the Grenadines. It offers multiple account types with varying minimum deposit requirements, all supporting the use of expert advisors. The broker utilizes the MT4 trading platform, a popular choice among traders.

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However, better options are present online, and it’s easy for most traders to switch. While the first account is cheap, lexatrade.com also robbed it of most features. As such, we don’t think you can get a competitive trading service up until the $10,000 account at least.

Take a researched, confident step into the markets, by getting to know all there is about trading CFDs. Then he learned from a friend trading with a LexaTrade broker that all prosecutions are complete nonsense. Proper regulations usually ensure that forex brokers are sufficiently capitalized in the event of insolvency or trading losses.

Best Forex Broker

Thus, traders can trade their currency pairs, creating, for example, a mixture of the dollar with bitcoins or the euro. This ensures that the trader can take into account the most insignificant prices and get a high level of volatility. However, it is an offshore broker restricted to operating in the US and Europe. LexaTrade customer support is very impressive as it offers full-time support with 24/7 operating hours.

For starters, the first two accounts are borderline unusable. The asset access is limited, your withdrawal requests are low priority, and the spreads are extremely high. We’re nearly certain the broker made the accounts just to seem more open. The broker offers its traders two platforms, as we’ve indicated earlier in our Lexatrade review. And even then, you only get the web version, and you need the $50,000 account for the full unlock. All account types offered by LexaTrade support the use of expert advisors (EAs), automated trading systems commonly used in the Forex market.

Fake scam

The VIP account offers the most affordable spreads, as can be seen. For AUD/CAD, the Mini spread is 3.8 pips, the Standard spread is 3.3 pips, The Silver spread and the Gold spread are 3 pips, and the Platinum spread is 2.3 pips. It is important to mention that there was no specific mention of commission-related details for LexaTrade.

• But for the most part, trading fees are around the industry norm and there aren’t hidden additional costs to be wary of.
• It goes against our guidelines to offer incentives for reviews.
• Then when it comes to returning the money they will disappear.

However, there are many complaints and mixed reviews online from users in 2021, particularly around withdrawal problems. The LexaTrade Group’s European subsidiary is licensed and regulated by the CySEC . Fortrade – Fortrade is a multi-asset broker offering a simple live account with advanced tools. For withdrawals, a charge up to $20 may be applied, depending on the payment method and withdrawal size. Withdrawals can take up to 28 working days to be processed, which has unsurprisingly led to customer complaints online. Skilling are an exciting new brand, regulated in Europe and beyond, with a bespoke browser based platform, allowing seamless low cost trading across devices.

Live chat support was available at the time of our visit but a bit slow to answer. Overall this is a promising broker but a few tweaks here and there would make it a better one. That being said, they are very new at the time of this review, so there is time for improvement. This does seem like a friendly broker, but I am not sure it’s the best choice for a total beginner, simply because the lowest deposit to open an account is $250.