People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. Later they said that the amount was too low for a trade so I left the money there only to find later that the money has disappeared. EvenInsight.com is a venture of Even Insight Technology and a website for cyber security and analysis.

LexaTrade Account Types

It offers signals and pattern recognition and is generally regarded as a reliable tool but of course there are no guarantees that it will be profitable. There is no fee to open an account and the fees for deposits and withdrawals are not specified anywhere on the website. There is no mention of an inactivity fee but we cannot guarantee that you won’t be charged one. The website is translated in 6 languages, the platform is relatively easy to use and offers all the features needed by an average trader.

thoughts on “Is LexaTrade a Scam? Honest Review 2023”

1. Lexatrade offers personal account managers to its users and they help in trading.
2. It is registered in Saint Vincent and the Grenadines which makes no sense.
3. The broker can be reached through multiple channels, including phone line and email.
4. It offers signals and pattern recognition and is generally regarded as a reliable tool but of course there are no guarantees that it will be profitable.
5. Besides, LexaTrade’s Web platform offers all the tools that can turn a skilled trader into a profitable trader.

The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client. LexaTrade is a financial trading platform that offers a range of financial instruments for traders to choose from, including contracts for difference (CFDs), foreign exchange (FX), and cryptocurrencies. In conclusion, while the promise of easy trading may be tempting, LexaTrade is fraught with risks that make it unsuitable for investors who prioritize security and legitimacy. LexaTrade claims to be an online brokerage offering access to various financial instruments such as forex, indices, and commodities. While the platform appears well-structured on the surface, a closer examination reveals troubling details. Scammers employ persuasive tactics to convince you to make an initial minimum deposit.

Is LexaTrade a Scam? Honest Review 2023

The owning/operating company is Swissone Group Ltd, located in St. Vincent and the Grenadines and registered with the IFMRRC – Certificate TSRF RU 0395 AA V0165. The information on Forex-mag.com does not serve as an investment or trading recommendation. The server operator Almina Corp as is not a registered broker, investment advisor or broker.

We aren’t the biggest fan of the huge jumps between the sums you need for different account types. However, that’s a minor complaint, as what you get for each account is actually pretty fair for the price point. One more significant concern is that the broker locks the MT4 platform behind the more expensive account types. The setup itself is tried and true and is one of the most common ways for brokers to structure their accounts.

Each account type comes with its own set of perks, with the higher account types offering the best perks lexatrade review and benefits. One of the primary concerns with LexaTrade is its lack of regulation by reputed authorities such as CySec, ASIC, FCA, CNMV, and others. This unregulated platform operates without the necessary regulation, raising doubts about the safety of your funds. While regulation alone does not determine a scam, it is an essential factor to consider.

With the collaboration of multiple security partners, EvenInsight provides the detailed evolution of each website which empowers users to identify potential scams. So don’t use this platform and research well before choosing a such platform. Moreover these personal manager act as LexaTrade affiliates who enforce clients to deposit more on their platform. If a trade position is kept open and carried over to the following day, a commission will be charged to the trading account for using the credit. The commission is based on the size of the transaction and ranges from 0.005% to 0.015% for most instruments, while it is 0.5% for cryptocurrencies. But we are skeptical about most activities and claim made by LexaTrade.

We use dedicated people and clever technology to safeguard our platform. Claim your profile to access Trustpilot’s free business tools and connect with customers. But considering various reviews, we found that their so-called experts have very less knowledge and most trade signals are loss-making. LexaTrade charges a service charge of 5% when customers has made less than 5 independent transactions.