Is LexaTrade A Scam?

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. In trading, first, you need to choose a market you would like to trade on. Choose an asset on the platform, then select the size of the right position for your account. Once done, open the order mask and customize your position.

LexaTrade scammers

There are no LexaTrade fees on any deposits and withdrawals, although some vendors may charge their own fees, which are worth investigating. As the table above highlighted, two of the most popular contact methods are the phone and live chat. Live chat is not offered by all the forex broker and is ideal for short questions relating to traders.

Apakah LexaTrade Legit Atau Scam?

‘Sell Limit’ opens a sell order when the instrument’s price reaches the level set. When the price is assumed will reach a level after increasing and stock market then reverse and drop. When the trader’s instrument’s price reaches the level set, a buy order will be performed, and this is called ‘Buy Limit’.

LexaTrade scammers

In conclusion, 2009 was a long time ago, and traders might be thinking that LexaTrade’ name change brought a change in behavior with it. Traders who overlook past misconduct can often find themselves unduly losing their deposit. If this situation sounds familiar, you can contact us today. Our representatives can take a closer look at your case and your options.

Is Easy Markets Regulated?

LexaTrade offers platforms for web, desktop, and mobile trading. This platform is well-developed and promotes simple trading as the core concept of the broker’s brand. Live chat lexatrade website is complemented by Viber and even Facebook messenger. The key is that these communication channels including live chat are available to all forex accounts offered by LexaTrade.

There are mixed reviews of traders on social media about LexaTrade. The three companies are associated with LexaTrade which are Easy Forex Trading LTD, Cyprus; LexaTrade PTY LTD, Australia; and EF Worldwide LTD, Marshall Islands. The financial regulator CySEC and ASIC respectively regulate Cyprus and Australia based firms. However, the problem here is EF Worldwide LTD which situated on the Marshall Islands.

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But since they gave me a $300 signup bonus, the loss wasn’t really out of pocket so I guess I will give them the extra star for a 5 star review. They do not charge fees but they do apply a spread although I consider it a high spread. My first time doing any kind of trading and the experience seems okay. With traders enrolled in more than 160 countries, LexaTrade supply a vast variety of tradable stocks, easy trading platforms and ample promotional supplies. To get a safe, stable and dependable trading encounter, LexaTrade .com is still a high option for traders. LexaTradeis a good nice exchange services Customer support is good for solving .

Deposit And Withdrawal Methods On Easy Markets

Another positive aspect found when completing the LexaTrade review was that there are no charge or any fees on withdrawal requests. LexaTrade also accommodates many payment options including most major credit cards, EFT and Skrill. Guaranteed negative balance provides peace of mind as volatile economic events are known to lead to large losses for traders without protection. Justin Grossbard has been investing for the past 20 years and writing for the past 10. He co-founded Compare Forex Brokers in 2014 after working with the foreign exchange trading industry for several years. He also founded a number of FinTech and digital startups including Innovate Online and SMS Comparison. Justin holds a Masters Degree and an Honours in Commerce from Monash University.

LexaTrade scammers

It is much alike with ‘Buy Stop’, however, the difference is the current price is higher than the value set. This one is usually used by traders that assume the price will reach a level and continue falling. When you select ‘Buy Stop’, you should set the price you would like your position to open at. This type of order can be used when the current price is lower than the value you set. When traders think the price will reach a certain level and continue increasing, they usually use this.

LexaTrade Web Platform

The spreads provided at LexaTrade fixed at one pip on Euro-USDollar fx pair. Such fixed spreads are helpful to determine the cost of trading before actual tradings. I believe they are attractive for the beginner who wants to feel safe and trade in a simple environment that minimizes uncertainty. Their online platform is very intuitive compared to Metatrader, and frankly, Metaquotes could learn a thing or two from it.

  • Finally, we’ve listed some of the popular funding methods that LexaTrade offers its traders below.
  • Scammers gain access to your confidential information, like socil security numbers, date of birth and then use it to apply for credit cards, loans and financial accounts.
  • Due to its ability to integrate a wealth of features that allow tailored market analysis and automated trading, most traders choose to use the MT4 platform.
  • It is not a scam because it is regulated by trustworthy authorities like ASIC and has a ton of positive user reviews from various sources.
  • Tools that come with these trading platforms are also found to be useful for traders.
  • The lowest minimum amount relates to the standard account, which is $200AUD.

I registered with vix500 it started well first few withdrawals came through with no delays so I lexatrade official site deposited more money. I haven’t heard from them in a while now, I have a lot in this account.

Opinions And Experiences

On Forex Peace Army we found some negative client reviews about the broker. However, each of these was responded to by a representative of the broker which means they are interested in resolving issues. We find it encouraging that some e-wallets are allowed for transactions. This is because standard and legit brokers make deposits and withdrawals available via Visa, MasterCard, and Wire Transfer. Many offer e-wallets like Skrill, Neteller, UnionPay, FasaPay, and so on. It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

LexaTrade scammers

I’ve used LexaTrade for almost 4 years now and I like the speed of the transactions and the withdrawls. Even after providing with all the documents your account is not verified and you are left with the option to lose your money. Except from the spread they charge $25 fees just to withdraw your funds. Also the withdrawal request takes too long to be added in your card. They “accidentally” double charged me for fees for a transaction I did. The company has a wide reputation on the market which makes it safe and secure for many satisfied traders.

Likewise, the guaranteed stop loss that we offer on our web platform helps you control your risk on every trade so you never lose more capital than willing to risk. We always strive to ensure that we provide our traders with the best possible trading conditions.

LexaTrade scammers

In this case, the connections aren’t your fault, your ISP’s fault, the broker’s fault, or the broker’s ISP’s fault. How in your rightful mind do you think do you think a client would accept a – $7000 loss for YOUR mistakes of a useless server connection. Especially when I reported this problem long before the loss was at that amount, in fact I reported it before any loss at all and email times proof this. We have communicated with the client throughout this situation however we will not compensate for loss of earnings or other claims. We have consulted with our team regarding the alleged incident referred to by the client. I urge to to stay aware from this broker and if you trade with them I would recommend changing immediately.