Reviewing LexaTrade: Real Customer Feedback on a Forex Broker
A deposit match isn’t inherently a bad thing, but it’s commonly used by malicious brokerages. That’s especially true if the bonus goes as high as it does at lexatrade.com. LexaTrade’s MT4 web terminal is a safe, secure trading platform that uses advanced technology and high-quality terminal work. It is compatible with any browser and can combine various commercial operations. It also provides listing charts that can be customized according to shifting time ranges.
LexaTrade lists the world’s biggest stocks, previous revenue, and forecasts. It also includes the date when the forecasted value is expected to happen so traders can prepare. One of the most popular bonuses it offers is the Refer a Friend program. When an existing client successfully gets another trader to sign up to LexaTrade, clients are awarded up to 50% of the deposited amount of the new client. Any existing trader can sign up to participate in the program and receive incredible bonuses. The broker offers a wide range of incentives, welcome bonuses, promotions, etc.
TrustPilot, one of the most reliable reviewers on the web, rates LexaTrade 4 out of 5 stars. Approximately 95% of all client reviews on this website are positive. The remaining few were negative ones with an obvious goal, which is smearing LexaTrade’s reputation.
Is LexaTrade A Scam?
- For example, you can invest in U.S. crude oil, Brent oil, spot gold, or silver.
- They will help you avoid errors in class so you can make your start in the profession even easier.
- There are also broker review sites that speak well about the broker.
- Baseless accusations like these are examples of libelous claims executed by competitors to smear another broker’s reputation.
- If you’ve been following our Lexatrade review, you’ve likely noticed that the broker takes a step forward and a step back.
We wouldn’t be surprised if entry-level traders couldn’t find their way around and simply decided to use another brokerage. Lexatrade is new forex and CFDs brokerage that primarily operates in Europe. It opened just earlier this year and has attracted a good bit of attention as such. In our Lexatrade review, we’ll look at how beneficial it is for customers compared to other options.
Start
These statements have no legitimate grounds and are clearly libelous. False statements like these are easy to create but have a dangerous impact on the broker’s reputation. This is why reviews like these are most often created by competitors. For starters, LexaTrade has a “Refer a Friend” program, which allows an existing client to benefit from sharing the services of LexaTrade to friends and fellow traders. A program entails any existing client receiving 50% of the deposited amount of any new trader they’ve successfully encouraged to sign up with LexaTrade.
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. Every single one of our instructors has gone from https://traderoom.info/lexatrade-review-pros-cons-and-verdict/ a beginner to a practicing trader. They know what sort of difficulties you may encounter and are only too happy to share their experience with you. They will help you avoid errors in class so you can make your start in the profession even easier. One of the primary concerns with LexaTrade is its lack of regulation by reputed authorities such as CySec, ASIC, FCA, CNMV, and others.
Being a global broker, LexaTrade has earned the praises of its clients and the ire of its detractors. Many critics have praised this broker for several reasons, while a select few spread libelous claims to destroy its reputation. LexaTrade official site provides a brief overview of every financial market, prioritizing currencies, commodities, and indices/shares. These are some of the most widely-traded markets by investors worldwide.
False Claims: Analyzing Negative LexaTrade Forex Brokers Reviews
Dfpi.ca.gov/crypto-scams/ – The scams listed in this tracker are based on consumer complaints from California. They detail the losses reported by individuals who have identified these transactions as part of fraudulent or deceptive activities. IFMRRC stands for International Financial Market Relations Regulation Center. It’s a non-commercial organization that regulates about 60 brokerages.
Similar bonuses often have thick strings attached, so be sure to read the terms if you intend to invest. Lexatrade has five different account types covering budget and high-end options. The broker uses a tiered account progression where each type requires you to reach a specific threshold. The cheapest option is $250 while the most expensive is $100,000. Prior to making any investment, we highly advise you to thoroughly review our Terms and Conditions.
xCritical Platform
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.
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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. Lexatrade has launched a universal course for investors with any experience. Daily Market News are financial reports that thoroughly assess the impact of global events on the financial markets.