I then provided my ID and proof of residence and they emailed me back saying they don’t approve of my address even though it is identical on all my ID’s. I jumped through the ridiculous hoops to get my money back and then they come up with another excuse not to give it back. Manual traders who have no need for advanced features may find the MT5 trading platform a better choice. Fully developed in-house, lexatrade forex brokers reviews Lexatrade Mobile App enables traders to manage their account and trade on the go. Users can register for an account, deposit, withdraw, upload their KYC and of course place their trades anytime, anywhere. The Lexatrade Webtrader is advertised as a feature-packed platform but it lacks support for automated trading solutions. As such, it represents a less capable version of the MT4/MT5 web versions.
Please note that withdrawals are subject to specific requirements as defined in our Terms and Conditions. The Cyprus Securities and Exchange Commission was established in accordance with section 5 of the Securities and Exchange Commission Law of 2001 as a public legal entity. It also supervises the firms offering administrative services which do not fall under the supervision of ICPAC and the Cyprus Bar Association.
What Can I Trade
The veteran fundamental analyst and Head of Investment Research at Lexatrade Marshall Gittler has shared his insights, views and projections on the upcoming German Elections Report and its impact on the EUR forex pairs. As the German Elections are getting closer, traders are already attempting to identify the biggest potential winners and losers in the… As the broker mentions it always aiming to give withdrawal service within 24 hours, yet this is applicable towards working business days, as on weekends or holidays it may take longer to proceed.
Lexatrade’ mobile trading platforms are good when compared to other brokers. Lexatrade offers mobile versions of MT4 and MT5 in addition to its proprietary mobile trading app. These charges cover the maintenance/administration expenses of inactive accounts, but these fees are much higher than those of other brokers. Lexatrade is also a very well-decorated broker having collected a number of awards particularly in recent years as they have expanded their industry presence. Being recognized as providing one of the best trading platform applications, as well as for their positive trading conditions and environment has helped them greatly in continuing to improve their profile among traders. The one thing that lets this broker down is their lack of positive reviews. As mentioned in this article, Lexatrade got fined by CySec for a regulation violation and in the forums a lot of traders are having trouble with withdrawals taking a long time from the broker.
We are delighted to hear that you are satisfied with our Team and services and we hope you continue to enjoy trading with us. We are pleased to hear that you are satisfied with our team and services. Renata and our team are always at your disposal and we hope that you continue to enjoy trading with us. In addition to the brand new Premium account, Lexatrade offers other types of accounts equally valid and capable of satisfying any need. The Lexatrade Premium Account offers ultra low spreads and flexible leverage with an initial deposit of $ 100. The live chat option is presented on the broker’s website and can be directly used without searching the website up and down.
Lexatrade Financial Instruments
Trading with confidence and success relies heavily on knowledge and understanding of the markets, therefore research options offered by brokers form an integral part of its features when choosing the right company to trade with. Lexatrade does not charge deposit or withdrawal fees on credit card transactions, but there is a fixed fee of 10 EUR when withdrawals are either equal to or less than 20 EUR. This also applies to bank wire withdrawals that are equal to or less than 100 EUR. We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the Lexatrade offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.
- The document that can definitively confirm the effective and real residence must be as recent as possible , contains the data of the Lexatrade account holder, date of issue, current address, name and surname.
- Also, keep in mind that the minimum lot size you can trade with the Black account is set at 0.1 lots or a Mini lot worth 10,000 units of currencies.
- Last but not least, Lexatrade operates a Tied Agent in Germany called Lexatrade GmbH that promotes investment services and the Lexatrade Holding PLC. The Lexatrade GmbH is a registered company under Registration No.
- Comments including inappropriate, irrelevant or promotional links will also be removed.
Therefore, with access to most liquid and popular markets you may choose the desired and most understanding instrument according to your trading need and use Lexatrade user-friendly portal to benefit from trading. Our traders are our most valuable resource and we work tirelessly to exceed their expectations. When you trade with Swiss Markets you receive the VIP treatment, no matter the size of your account balance.
Is Lexatrade A Recommended Forex Trading Broker For Experts And Beginners?
They also have a Daily Analysis section, which was actually updated daily at the time of our visit, as it’s supposed to be. 100% Deposit Bonus – Receive a 100% Bonus on Deposits (Max Bonus $5,000). Intuitive Platforms with advanced charting tools to aid in technical analysis. E-mail support is also provided, but is separated into several email channels to assist with specific issues. I created my account in Cameroon Africa but relocated to the USA where I have been trading. We are glad to hear that you are satisfied with Dardan’s assistance.
While they were founded in 2006 in Ireland, they have since grown to become one of the top forex brokers in the sector offering services around the world. The spreads start at an average of 0.3 pips per trade, but this increases on other account types up to an average of 1.1 pip spreads.
With a standard account Lexatrade some trading costs and fees are high, while others are competitive. Lower trading costs are available through different account types. In addition, Lexatrade Holding Ltd. is a member of the CySEC Investor Compensation Fund (“ICF”), which provides compensation of up to €20,000 to clients in the event of broker insolvency. By contrast, a trader working with a broker entity regulated offshore would not have these benefits guaranteed to them. Then keep on reading as we have battle-tested all of the features and services provided by Lexatrade and outline our findings in detail below. Lexatrade is a beginner friendly broker, with easy to use platforms and good education and research resources. Our review is based on a live Classic Account, using the web platform, opened with the offshore BDS Markets entity (Lexatrade.com).
Features Of Lexatrade
Also, Lexatrade offers great research tools and charting tools for market research and supporting traders with unique materials making you a better trader. Coherent research allows the data review online to be more comprehensive. Besides traditional bank wires and credit/debit cards, supported payment processors include Skrill, Neteller, PayPay, giropay, Sofort, eps, iDeal, and dotpay. lexatrade rezension Immediate processing times refer to Lexatrade deposits only ; as is standard, bank wires may take between four and seven business days to arrive. Per regulatory requirements, the name on the deposit account and trading account must be identical. All withdrawal requests are processed internally within 24 hours. The website is relatively easy to navigate and translated into 23 languages.
Overall, because of its history of responsible behaviour, storing international regulation, strict auditing processes, and wide industry acclaim, we consider Lexatrade a trustworthy broker. With a long history of responsible behaviour and local and international regulation, we consider Lexatrade a safe broker to trade with. We may receive compensation when you click on links to products we review. Type 0 – in pips, Type 1 – in the symbol base currency, Type 2 – by interest, Type 3 – in the margin currency. Only brokers with the same calculation method of swap are presented in the chart on the right.
In Conclusion, Are Lexatrade A Good Broker?
Lexatrade also provides a range of tools to help traders orient themselves in the market. These include an economic calendar, a trends analysis tool and a forex heat map showing the most traded currency pairs. Lexatrade provides frequently updated research materials of good quality, better than the industry average in our lexatrade cheating view. Lexatrade showed an average level of transparency in areas such as their regulatory status, fees and general background information. The regulatory status of different subsidiaries is covered on the homepage of Lexatrade.com. A Client Agreement document is also available on the General terms and conditions page.
We suggest you contact the customer support to find out which methods are accepted. The broker processes withdrawals within one business day and makes sure that your profits end up safely in your account. As far as platforms are concerned, Lexatrade offers the standardized Meta Trader 4 which comes with all the fancy trading options. It seems that the MT4 optimizes trading results and gives a better chance of winning with minimum or no latency, auto-trading, and easy access.
CySEC and FSC regulation provides an adequate layer of security, and this broker has been compliant with all stipulations. Traders may trust Lexatrade with personal data and capital, as a reliable operation is in place. The trade execution statistics point to a sound trade execution policy and a deep liquidity pool. The education section at Lexatrade fulfills an essential role at this broker. Overall this category represents the most valuable aspect of Lexatrade. The Lexatrade WebTrader is worth exploring if you’re looking for a MetaTrader alternative. The WebTrader does not require downloading and it is fully synchronised to the downloadable versions of the MT4.