Also lexatrade reviews is regulated by Cyprus Securities and Exchange Commission . LexaTrade are considered safe as they are regulated by and checked for conduct by the Cyprus Securities and Exchange Commission . Any payments funded to LexaTrade accounts by traders are held in a segregated bank account. Tier 1 is the official measure of a banks financial health and strength.
Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Financial regulation and license approval is essential. A Tier 1 bank is considered the safest and most secure regarding client capital. Tier 1 is actually a term describing the financial strength of a bank. A Tier 1 bank has strong core capital reserves and financial regulators utilize tier one banks because they are able to withstand unexpected financial losses. It is only difficult for people who have not done the research. In this article, you will learn important information regarding LexaTrade that will help you get off to a good start in the world of online trading. If you are interested in trading with LexaTradein any capacity please take the time to read and research the whole LexaTrade review.
When Was LexaTrade Founded?
A forex broker running as a regulated scam has all its paperwork in order. Hence it might be a little challenging to identify it as scammy. You see, the broker’s main aim is to entice you to lose as much cash as you can because your loss is their gain.
DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering.
- They have to make some way, so transaction commissions and other trading fees may be higher with a low minimum deposit account.
- LexaTrade are regulated by Cyprus Securities and Exchange Commission .
- A common problem with scam brokers is difficult withdrawals.
- We’ve summarised all of the different types of instruments offered by LexaTrade below, along with the instruments offered by IG and XTB for comparison.
- Any user connected to LexaTrade’s social trading network can choose whether to share their trades or not.
- Continued harassing calls to our live call in buy, sell or trade program will result in legal action.
forex broker CFDs are typically used for short to medium term trades. Although high risk because CFD trades are separate from the financial markets, a CFD trade can be more flexible than a traditional market trade where you own the underlying asset. CFD trades give access to CFD fractional shares, CFD international markets and CFD short selling. MetaTrader 4 MultiTerminal provides a intuitive easy to use dashboard where traders can administer and supervise several trading accounts. MultiTerminal will let you manage over 100 Accounts simultaneously allowing you to place market orders, pending orders, view live market prices and track all accounts and equity at real time.
Please consider that customer support has been very poor and the spreads are fairly high as well. Trader Profile example.You can see how long the LexaTrade account has been active by looking at the performance graph for the entire lifetime.
LexaTrade Broker Review
To fund your account, you’ll need to deposit a minimum of $250 (or 250 £/€). By the time we first funded our test account, we benefited from a nice 30% scammed by lexatrade first deposit bonus. However, because of some rule changes in relation to advertising by CySEC , bonuses are no longer offered since January 31st 2017.
Forex Trading.Company was established to provide global traders a deep and insightful source of information on forex trading strategies and indicators. We list the world’s top regulated and authorised brokers suitable for a global audience. You should consider whether you can afford to take the high risk of losing your money). Because LexaTrade acts as a broker as well, the cost of using their social trading network and platform is totally free. The cost is assumed in the spreads, which seem a little high.
Is LexaTrade Com Regulated?
While some conversations seem to be useful and show community members helping each other, some others are very irrelevant or promotional. MetaTrader 4 is the most popular trading platform in the world as most and more traders begin to trade online Metatrader 4 is available as a web based application available through your web browser. You can enjoy our Raw Pricing trading environment without a Dealing Desk from anywhere in the world. Inactivity fees are not specific to online trading accounts. Many financial service companies may charge inactivity fees.
In addition, quite a few clients seem to use the social interaction features to ask support questions directly to other clients. Once you register, even for a demo account, you’ll normally already get assigned an account manager who will contact you both by email and telephone to see if you need any further information . The social interaction features and freedom offered by LexaTrade’s platform are the most profound of any social trading network we’ve reviewed or come across so far. We’re not aware of any other platform which gives you easy access to chat privately with other members or send broadcast messages as freely to the rest of the community as LexaTrade allows. Unfortunately where such freedom is given abuse is likely to follow.
How To Filter And Find Your Ideal Trader To Follow
There is another more advanced feature which allows traders to share graphics, to make it easier to discuss the concrete aspects of a particular trade. These cookies are strictly necessary to provide you with services available through our websites. You cannot refuse these cookies without impacting how our websites forex news today function. You can block or delete them by changing your browser settings, as described under the heading “Managing cookies” in the Privacy and Cookies Policy. Obviously you didn’t read the end bit, if I had been told at the initial outset that you would keep £25, I would never have invested my money with you.
The content in this LexaTrade review does not apply to US users. To start the process of opening an account with LexaTrade you canvisit their website here. LexaTrade has a BrokerNotes A support rating because LexaTrade offer over three languages. Finally, we’ve listed some of the popular funding methods that LexaTrade offers its traders below.
How We Reviewed LexaTrade
You can sign up for a demo account to acquaint yourself with best forex brokers platform. They give traders access to major markets like currencies, indices, commodities and shares.
As you can see from the below unflattering reviews from Forex Peace Army, a reputable forex review platform, this has been the case with LexaTrade. CySEC supervises and checks LexaTrade’s trading practices. As a rule, regulated brokers honor all withdrawal requests and don’t manipulate market prices. Besides, a violation of any given regulatory rules could lead to the stripping of the erring broker’s regulated status. To be successful as an online trader, you need to have a genuine and reliable broker.