The methods for deposit are Visa, CryptoWallet and e-Payouts and we assume the same methods will be used for withdrawals, although LexaTrade doesn’t mention this specifically. Also keep in mind that the company is regulated (IFMRRC), which is not the fiercest of financial watchdogs, but any type of regulation is better than no regulation at all. That being said, caution should be used anytime money is involved, with all brokers, old or new.

Besides, LexaTrade’s Web platform offers all the tools that can turn a skilled trader into a profitable trader. The broker doesn’t hide the fact that it’s trying to goad you into depositing more. Even the withdrawal speeds increase as you go up to the higher accounts. Lexa Trade allows global traders to access financial markets, including Forex, Stocks etc. However, the broker has a low user rating, with mixed reviews as some complain about the platform while others appraise it. So, to help you out in deciding whether it’s a worthy broker, let’s take an in-depth look at the platform with our detailed LexaTrade review.

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Lower deposits, more information about deposits and withdrawals, a basic FAQ, and a demo account are just a few adjustments that would go a long way and would make LexaTrade a higher-tier broker. That being said, they are very new at the time of this review, so there is time for improvement. The overall structure of the accounts at LexaTrade is too expensive in my opinion and putting a $10,000 barrier between the trader and MT4 means that the lexatrade reviews majority of clients will not use this platform.

Many people have complained that LexaTrade has locked or stolen their funds. Either balance gets zero or unable to withdraw funds due to invalid reasons. It is registered in Saint Vincent and the Grenadines which makes no sense.

The charges are higher compared to the platform we have reviewed so far. The spreads vary on the account type and the  instrument traders trade in. Moving forward with this LexaTrade review, we will further discuss the platform’s fees, platforms and account types. If you’ve been following our Lexatrade review, you’ve likely noticed that the broker takes a step forward and a step back.

1. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose.
2. The case with its funding is much of the same, as there are some things that look good.
3. Besides, LexaTrade’s Web platform offers all the tools that can turn a skilled trader into a profitable trader.

Real User Experiences and Reports

LexaTrade has a referral program in which you’ll receive up to 50% deposit amount as a commission. But we are skeptical about most activities and claim made by LexaTrade. Several red flags have emerged from user experiences that cast doubt on LexaTrade’s legitimacy, making it essential to understand these warning signs before investing any money.

Is Lexatrade a legal broker?

And besides, if you really want to do advanced technical analysis, LexaTrade offers Meta Trader 4 so you can have the best of both worlds. 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. It allows them the greatest reach, as the primary concern with the accounts is budget rather than trading style.

Lexatrade is a scam

LexaTrade charges a service charge of 5% when customers has made less than 5 independent transactions. We are back with our unbiased review of LexaTrade, an online trading broker company. 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. As per LexaTrade conditions, if the referred client makes a deposit between $500 to $10,000, then 50% of it will be the referral bonus.

The broker can be reached through multiple channels, including phone line and email. The support team is problem-solving and responds quickly, so the overall communication with the team was great. MT4 is one the world’s most famous and reliable trading platforms for Forex. The user-friendly UI of the platform helps both beginner and professional alike.