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Trader of the Month – Live account holders are automatically added to this promotion where the top-performing trader receives a $1,000 prize. LexaTrade clients receive a 20% discount on all packages with 100% uptime guaranteed. Autochartist MT4 Plugin and web application which is an advanced chart pattern recognition tool highlighting actionable trading opportunities. The texts on this page are not an investment recommendation. You can reach their support through Facebook Messenger, WhatsApp, Viber, and Live Chat on their website.
I registered last week Wednesday and by Friday, my $250 rose to over $300. One Danny Di called me persistently asking that I increase my capital to at least $25,000. At this point, Danny Di threatened to stop trading for me. I pleaded that he continued trading as I will not do any withdrawal allowing increase of capital. If you feel the information listed on this page was useful, please share it on social media.
It is tough to recognize the fake brokers from first look – yet that is the place where we can help. If you want to invest in online trading, it is good to look at the list of scam brokers 2022 and avoid the brokers present on the list. This will help you in safe trading and also keep your investments safe with the right broker. There may be a risk of scams in online trading like Forex trading, Cryptocurrency trading, Binary trading, and others. Some of the major online scams we heard about are Forex scam, Cryptocurrency scam, Investment scam, Romance/Dating scam, Pet scam, Binary scam, etc.
Try them out and let us know if they are still up to their reputation. What looks suspicious is the passive income that the broker is offering for higher accounts. If LexaTrade is supposed to trade on your behalf and make you money, it is something we have never seen with a legit broker.
Of course, there will be pluses in the beginning and everything will be spinning like a crazy carousel – until you want to pay. “Withdraw” is the magic word that changes the direction of your account – then usually a wonderful transaction comes along, recommended by your account manager, to make up for the losses. Then the explanation is that the markets are so unpredictable BUT another deposit can help – and of course a bonus. After pursuing this review and reading other negative LexaTrade reviews, it is clear that this broker is a scam. If you got defrauded by https://forex-reviews.org/ or some other intermediary and need to discover more about another agent, address our specialists.
While LexaTrade is equipped with impressive advantages, it still faces negative reviews. This may be from the company’s financial malpractice or maybe from competitors’ interest to drag LexaTrade down. Regardless, we still have to consider the legal documentation presented in its official site. With license from IFMRRC, clients are ensured that all operations are legally binding and conducted under legitimate terms. While choosing a broker online, the regulation status is one of the most critical points. Here, LexaTrade seems not to be regulated in its jurisdiction of operation and is indulged in scam activities.
LexaTrade Review: Fees, Commission & Spreads
They will continue to encourage you to continue depositing your money with them in order to continue scamming you. As we have established in this review, LexaTrade has no license to act as broker in any country. Yet it is clearly lexatrade review is offering its services in a lot of countries where it legally can’t. I have just started, so far I am good with the trading tools. Haven’t had withdrawal yet but based on observation, brokers are skilled and easy to deal with.
DealCancellation – unique to Lexatrade, this tool allows clients to cancel an order within six hours of making a trade. Traders are charged a fee for using this service, which is based on the market volatility of the instrument being traded. For traders who wish to trade from a browser, Lexatrade’ web-based platform is offered.
Even the withdrawal speeds increase as you go up to the higher accounts. And without the broker specifying the times, who knows how long it might take for you to get your money. There are also other newbie-baiting features, such as the bonus that Lexatrade offers.
- LexaTrade also has a schedule of free seminars worldwide, which introduce clients to trading concepts, and provides networking opportunities.
- Please be noted that all information provided by ThatSucks.com are based on our experience and do not mean to offend or accuse any broker with illegal matters.
- It opened just earlier this year and has attracted a good bit of attention as such.
- Trading Forex, CFD, Binary Options, and other financial instruments carries a high risk of loss and is not suitable for all investors.
In order to attract more traders on the platform, LexaTrade often starts promotions. There is not a single complaint regarding the same, so, we can rate it good in this case. Please be noted that all information provided by ThatSucks.com are based on our experience and do not mean to offend or accuse any broker with illegal matters. The words Suck, Scam, etc are based on the fact that these articles are written in a satirical and exaggerated form and therefore sometimes disconnected from reality. All information should be revised closely by readers and to be judged privately by each person. The only extra worth mentioning is the Autochartist which is available right on the trading platform and is free of charge.
They scammed me $250 which they lured me to deposit with them, with the promise that they would allocate a robot trading machine to trade for me. I try calling them, but there line is always not reachable, but they always get you if they need you. This is something that was not available in the past few years and was only available in a handful of brokers. Lexatrade is also compatible with Forex Contingency Plan , which is a form of managed forex account. It allows the trader to set premiums based on the performance of the underlying portfolio. In addition to its ease of use, Lexatrade offers competitive spreads and pricing to traders.
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In contrast, regulated firms are required by law to adhere to a slew of regulations that ensure the safety of client’s funds. All over the world, most forex and CFD traders have embraced the MT4 because it is free, sophisticated, scalable, and comes with multiple tools. In fact, you can extend its complexity and features using plugin apps that can be built using the MQL4 programming code. It also supports automated trading through the use of trading robots known as expert advisors . Thousands of EAs, technical indicators, and trading tools are already in existence.
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. With such lack of information and being unregulated, funds are not safe. A red flag that we noticed is that they are withholding vital information to users. Theycould go bankrupt from one day to another since there are no banking information about them.
You ought to receive an instant reply to your query, if not fast. Nevertheless, fraudsters cut off communications upon receiving your money. It is improbable to deliver a friendly interface without proper customer relations. Active customer support assists in determining more trust in the company. After analyzing the detailed LexaTrade review, we can say the company is totally a scam.
LexaTrade Review: Regulation and License
Whereas, the broker tends to offer high leverage, shaping it as a scam broker. This broker offers high leverages which can cause a big loss to traders if things go wrong. So notorious in defrauding people of their hard earned money. Do not on any reason attempt doing any business with them, they are team of scammers and fraudsters.
These are two very stringent regulators that offer investor compensation schemes, segregated bank accounts, and a high level of broker transparency. In the time of informatization, it is not difficult to check the legitimacy and reliability of any company or broker. It is simple to safeguard yourself against fake brokers or blacklisted brokers. However, if you want more information, you can read these common practices followed by scam brokers. Please don’t initiate any call or start any conversation with them, if you do you are putting your money in very high risk of being duped by Lexatrade. They highly professional scammers with no regard and regrets, the are only good in defrauding people of even lower income.
We also help victims of Forex frauds, Binary frauds, Investment scams, Pension frauds and many other types of scams. We offer a Free Consultation when you file the complaint with us. Most of the scammers are experienced manipulators and before you know it they’d ask for your bank card numbers to assist you with the deposit. There is also a chance to become a victim of Identity theft, experiencing many more problems consequently.
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They addressed our issue and we were free to continue trading. You can reach the customer care representatives via email, telephone or live chat. Easy Markets offers the Lexatrade platform and MetaTrader 4 forex trading top platform. EasyTrade – In 2018, Lexatrade launched its latest trading innovation – easyTrade.
ForexPeaceArmy.com has advertising and affiliate relationships with some of the companies mentioned on this site and may be compensated if readers follow links and sign up. We are committed to the fair handling of reviews and posts regardless of such relations. If we look – for example – at a winery page, we don’t rate the wine’s tastiness, but how the company sells it online (delivery, shipping, etc.). And that’s without mentioning our hunch that the broker isn’t entirely honest. Altogether, it’s just a middle-of-the-pack broker, and there are a ton of similar companies out there. It doesn’t do anything to stand out, and the vast majority of traders can easily find an option that’s both more comfortable and more powerful.
On the bright side, they do make up for it by offering a ton of funding and payment methods. Over the years, this brokerage has seen a lot of ups and downs. People do love them for the kind of easy to use service and conditions they offer. If a broker is not licensed by the regulatory authority in your jurisdiction, that likely means that they are unregulated and should be avoided.