LexaTrade Legitimate or Fraudulent Brokerage Firm

While this may seem unfavorable for clients looking for well-regulated brokerage firms, it can be concluded that LexaTrade is still a decent broker. More so, it has been responsive and highly attentive in giving resolutions via complaint form, which can be found on LexaTrade website. This review was written to shed a light to some of the allegations about LexaTrade’s legitimacy. As the brokerage firm constantly faces negative feedback from its clients, it is necessary to conduct a thorough discussion of its services, offers, and overall functionality.

K&H kiemelt személyi kölcsön

• For example, you can invest in U.S. crude oil, Brent oil, spot gold, or silver.
• “If, in general terms, the company works honestly, and I would not say that LexaTrade scammers.
• The minimal deposit practice is well-accepted, but most exchanges either choose to demand $5, $10 or maybe $100 of an initial deposit.
• The use of xCritical also ensures stability, from deposits up to actual trading.
• The platform also offers customizable charting, allowing users to tailor the charts based on different timeframes.

MT4 Terminal is compatible with any desktop computer and operating system. It has listing charts for changing time ranges and combines many commercial operations. Once the victim feels comfortable, they are convinced to deposit funds into a fake crypto or forex platform, which is nothing more than a trap controlled by the scammer.

• Your K&H eID is your unique ID for the use of electronic services.
• This does seem like a friendly broker, but I am not sure it’s the best choice for a total beginner, simply because the lowest deposit to open an account is $250.
• But even if you aren’t a beginner, you’re advised to first try one of these levels to figure out if you can trust Lexa with more money – see if it suits your trading style and your needs.
• The company offers instant access, although this is a common feature of all broker sites, then trading assistants that help merge the client and trading without failures and favorable conditions.
• So, unless you deposit at least 3 grand, you’re stuck with the basest of basics of trading.

One of the key points – it is the place of registration and regulation of the company’s activities. The point is, these two are only really worth considering if you’re a long-term partner with Lexa already – it especially applies to the VIP. So, don’t bother considering these just yet, there’s nothing for you if you aren’t good pals with Lexatrade. So, it’s still a bit worse than usual in some ways and a bit better in others. This is clearly supposed to be the ‘middle level’ for those who know the rules and can trade.

Positive Reviews

And if you’re already depositing that much, there are many brokers that do what Lexatrade does but better. So there’s the argument that some regulation is better than none, and that does hold up. But there’s also the fact that while it’s better than nothing, it’s not a significant improvement. So the regulation may impose negligible limits on the broker while generating a false sense of confidence for potential customers. IFMRRC stands for International Financial Market Relations Regulation Center.

The website is translated in 6 languages, the platform is relatively easy to use and offers all the features needed by an average trader. A mobile platform is available but Demo accounts are not; US traders are not accepted. Of course, we cannot vouch for the accuracy of the signals but it’s a nice addition. On the other hand, the Web platform offered for the minimum account is quite enough for the average trader, so maybe that’s not a deal breaker.

Live chat support was available at the time of our visit but a bit slow to answer. 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 lexatrade review newly launched, regulated broker that offers CFD trading on currencies, cryptocurrencies, indices, and commodities.

LexaTrade Review: Regulation and License

After you have downloaded and activated the app in a few simple steps, the ‘enter e-bank’ option will appear on the mobilbank login screen. One major warning sign is that LexaTrade operates without a license from any official financial body. Registered financial companies are typically listed under regulators like the FCA, ASIC, SEC, or CFTC, and must follow strict consumer protection rules. Use the form below to request a free consultation from cyber-intelligence experts who may help you trace your lost funds. LexaTrade presents itself as a provider of online financial services but lacks any authorization from recognized financial regulators such as the Financial Conduct Authority (FCA). So, unless you deposit at least 3 grand, you’re stuck with the basest of basics of trading.

As well, the broker / crypto exchange opens access to analytics, auxiliary tools, trading signals. LexaTrade has often been found on the negative side of things when it comes to client reviews. However, it is crucial to note that not all client reviews came from the real clients of the broker. Black propaganda such as scammed by LexaTrade against the broker being stirred by its competitors can be another possibility to take into account.

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. In terms of financial instruments, account type gives users access to forex, cryptocurrency, commodities, and limited stock assets. The company charges a service charge of 5% if users make less than 5 independent transactions.