⭐ LexaTrade Review Got Scammed? Get Your Money Back!

  21. April 2022, von Sebastian

As we said earlier in our Lexatrade review, it offers a competitive trading experience, but it gets overshadowed by better companies. Lexa Trade allows global traders to access financial markets, including Forex, Stocks etc. 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. This broker offers a balanced mix of functionality and user-friendliness. And besides, if you really want to do advanced technical analysis, LexaTrade offers Meta Trader 4 so you can have the best of both worlds.

  • The default proprietary platform is good enough, with an intuitive interface and a solid set of analytical features.
  • Investing in commodities can be a great way to diversify your portfolio and achieve long-term gains.
  • It’s a non-commercial organization that regulates about 60 brokerages.
  • With their 24-hour client service team, you can get the support you need whenever you need it.
  • All we could find is that withdrawal processing takes up to 24 business hours and that a representative will contact the client in order to complete the processing of the withdrawal.

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. MT4 is one the world’s most famous and reliable trading platforms for Forex. The user-friendly UI of the platform helps both beginner and professional alike.

How Do You Trade With LexaTrade?

The platform also offers customizable charting, allowing users to tailor the charts based on different timeframes. A classic choice, particularly in Forex trading, the MT4 platform has garnered trust from seasoned traders ever since its launch in 2005. 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. As the platform is not worth considering, I was looking for the best alternative, and after researching for days, the most recommended broker I found was InvestFw.

Be careful and verify your information through multiple sources. Constant vigilance should be applied at all times when trying to invest in trading platforms. If a broker is not licensed by the regulatory authority in your jurisdiction, that likely means that they are unregulated and should be avoided.

While looking for the platform on Trustpilot, we went through many complaints, which indicate LexaTrade is a scam. The platform supports  bank wire, credit /debit cards, Skrill, Neteller and OrangePay for both deposits and withdrawals. When a broker is unregulated or regulated by an entity outside of your jurisdiction, you have lexatrade review limited to no legal recourse in the event that your funds are compromised. In an event of theft, complaints can only be made if that broker is licensed by the regulator in your jurisdiction. It is essential to exercise caution and conduct deep research before engaging with any online trading platform, including LexaTrade.

  • The data contained in this website may not be real-time and accurate.
  • Other powerful elements include, but are not limited to, Alexa rank, IP address, SSL certificate, and presence on fraud forums and bulletins.
  • We are here to conduct a comprehensive evaluation of LexaTrade’s offers and services for the most
    in-depth and unbiased verdict.

There are also other newbie-baiting features, such as the bonus that Lexatrade offers. A deposit match isn’t inherently a bad thing, but it’s commonly used by malicious brokerages. However, it is an offshore broker restricted to operating in the US and Europe.

The broker also provides different trading assets for higher liquidity with high leverage and low spreads. XCritical mobile app offers an easy-to-use interface, traders can access their trading account on the go, without any hassle. They can open positions, execute trades quickly, and monitor their account balance from anywhere, at any time. The app also offers a range of features to help users stay informed, including access to currency forecasts, real-time asset quotes, and the ability to set stop loss and take profit levels. Whether a beginner or an experienced trader, the XCritical mobile app is a great way to enhance your trading experience. It is regulated by the International Financial Market Relations Regulation Centre, making it a reliable broker in the forex market.

LexaTrade Review Warning Signs – Why LexaTrade is a scam broker?

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. One fact that’s relieving and concerning at the same time is the broker’s choice of the regulator. And if you’re unfamiliar with what IFMRRC is, we don’t blame you. Although we do daily broker reviews, we’ve never heard of it before. The broker has a low user rating of 2.1, which clearly shows the platform’s low credibility.

Lexatrade’s Trading Platform

After pursuing this review and reading other negative LexaTrade reviews, it is clear that this broker is a scam. If you got defrauded by LexaTrade scam or some other intermediary and need to discover more about another agent, address our specialists. We assist customers with documenting the case against trick representatives. With insightful reports and direction, we can help recover your assets. If you have been drawn nearer by a trick firm, then, at that point, contact Brokers Complaint to get fund recovery. Trading can help you to earn extra income, but at the same time, it is also meant to lose your funds if you don’t watch out.

Total Scam: LexaTrade Review

It has likely happened to many others, and it its important to learn from these experiences. Do not forget that even the most cautious investors can fall victim to online fraud. Overall, LexaTrade is committed to providing exceptional speed, functionality, and profitability to ensure a convenient and user-friendly trading experience for all its users. The broker set up strict payment procedures for the safety of the trader’s funds and to prevent financial theft.

Any compelling evidence, such as screenshots, substantiating your stellar service. Parade your satisfied customers (more than just website testimonials), showcase your inventory, and highlight instances where you’ve gracefully handled order cancellations. Incogni’s results were verified by our team and are trustworthy. The most powerful tool you should consider getting is a browser extension called Guardio. It automatically blocks 100x more harmful websites than competitors and 10x more malicious downloads than any other security tool. Online scams are on the rise, so lots of consumers are wondering how to stay safe on the web.

Scam Categories

Yes, LexaTrade is a scam broker as it is not regulated by any top tier regulatory watchdog. However, it holds a licence from the International Financial Market Relations Regulation Center. Despite this, it is an off-shore broker restricted to operate in the US and Europe. LexaTrade is a Forex and CFD broker that offers to trade in currencies, indices, and commodities. The parent company of LexaTrade is Swissone Group Ltd, located in St. Vincent and the Grenadines. 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.

What is the maximum leverage offered by LexaTrade?

The platform offers a long list of trading instruments, is regulated and most importantly, is not a scam. A web-based proprietary platform is offered by LexaTrade, such as MetaTrader4 and LexaTrade
app – xCritical Mobile App. While the platform offers a considerable service, we still advise to choose among legit brokers like InvestFw. On the other hand, the majority of traders don’t need Expert Advisors, scripts and the (sometimes) stuffy interface of Meta Trader. Besides, LexaTrade’s Web platform offers all the tools that can turn a skilled trader into a profitable trader. One of the most prevalent online trading scams is to initially display profitable trades that give the investor a false sense of confidence, and get them hooked to the idea of ‘easy money’.

If this doesn’t work, traders can raise a complaint to IFMRRC, the regulatory watchdog of LexaTrade. The company charges a service charge of 5% if users make less than 5 independent transactions. In order to attract more traders on the platform, LexaTrade often starts promotions.

 

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