Blog

Whenever i asked pay out they are telling some reason. One person Mr. Benny , whenever deposit he called me.. ( whether it is true or not i dont know ) but no other answering me.. They are a bundle of scammers put together don’t waste your time and money

This company is fraud

When it comes to deposits and withdrawals, the broker accepts multiple funding methods. Traders can use Visa, MasterCard, several wire lexatrade reviews transfers, Skrill, and several other e-wallets. However, the broker is not specific about its fees for funding and withdrawals, and processing times are not disclosed either. Higher-tier accounts offer faster withdrawal priority, but exact times are unclear, which is a serious red flag. There are no details on whether the broker offers a negative balance protection policy, which prevents traders from losing more than their initial investment.

However, its regulatory shortcomings, high trading costs, and numerous user complaints make it a questionable choice for anyone prioritizing safety and transparency. The account structure is straightforward, but the high minimum deposits for premium accounts may deter small-scale traders. Additionally, spreads on lower-tier accounts are uncompetitive compared to industry standards. These fake platforms also use fake reviews and celebrity endorsements to look legit. Don’t trust what’s shown on their homepage — always verify with real sources. Over time, the victim invests more, believing in the profits shown on fake dashboards.

This company is not honest

A critical measure of a broker’s legitimacy is authorization by recognized financial regulators. LexaTrade does not hold licenses from any of the major authorities that typically oversee brokers. It does not appear on the registers of the United Kingdom’s Financial Conduct Authority, the Australian Securities and Investments Commission, the Cyprus Securities and Exchange Commission, the U.S. Commodity Futures Trading Commission, or equivalent bodies in other jurisdictions. As such, it operates without statutory oversight or approval from these entities.

Despite expensive spreads, the broker offers a wide range of trading assets, including Forex pairs, commodities, indices, crypto pairs, and even stocks. Since the minimum deposit is high, it becomes extremely difficult to start at a low budget, making the broker unattractive for traders even though it offers various asset types. LexaTrade offers a competitive range of trading instruments and features, making it a suitable choice for both beginner and experienced traders.

We may be compensated but this should not be seen as an endorsement or recommendation by TradingBrokers.com, nor shall it bias our broker reviews. Whilst we try to keep information accurate and up to date, things can change without notice and therefore you should do your own research. LexaTrade offers competitive spreads, with forex pairs starting from around 1.5 pips. However, fees and spreads may vary depending on the account type and the asset being traded. The spread on major currency pairs such as EUR/USD is relatively low, but the spread may widen for less liquid assets.

Any rates, terms, products and services on third-party websites are subject to change without notice. This detailed review evaluates the platform’s features, trading conditions, customer service, strengths, weaknesses, and overall reliability. 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. I lost so much and was really devastated, I had to seek help until I was directed to Mr Harry Chawney and his Recovery company and Foundation that helped me to recover all the money I had lost. I will be happy to share my experience with anybody, you can also connect with him for help and assistance for a successful and secured investment without any loss of funds.

The Worst Broker that I traded with… A team of wolves

These deceptive practices raise significant doubts about the credibility and trustworthiness of this platform. Fill the form below or Use our Chatbot and get a Free Consultation from CNC Intelligence Experts, they can assist you by investigating your case and tracing your funds. You should also contact your bank as soon as possible and let them know about your issue. Dealing with an unregulated company like LexaTrade increases the risk factor of your money. Once the money is deposited with it, it stops responding to the queries..

Currently, LexaTrade is not fully regulated by major financial authorities such as the UK’s FCA or the US’s CFTC, which is a significant factor to consider when assessing its reliability. The lack of regulation from a reputable body means that traders may not have the same level of protection that comes with using a fully regulated broker. This is an area where caution is advised, as regulatory oversight is a critical part of ensuring the safety of your funds. The trading platform category is another one where the broker falls short in providing reliable service.

• The minimum deposit starts at $250 for the basic account, and is significantly higher for higher-end trading accounts.
• There is no option for EAs or custom indicators, and the trading app is not mobile-friendly.
• LexaTrade is an unregulated offshore broker with high minimum deposit requirements, unclear fees and spreads on most accounts, and a weak trading platform experience.
• Likewise, U.S. investors lose access to protections like FINRA or SIPC membership when using unregistered brokers.
• Overall, the broker is not competitive, and its conditions are not attractive.
• You may find made-up user testimonials or articles claiming celebrity involvement, all fabricated by the scammers.

LexaTrade Forex Review of Extra Features

Overall, the broker offers unsatisfactory conditions for withdrawals, which makes it a risky broker. Safety is a weak point of LexaTrade, as it is registered in the Marshall Islands and Saint Vincent and the Grenadines, which are offshore jurisdictions. The broker is not regulated in either of those jurisdictions, which raises serious red flags about its reliability and makes us think it might be a scam. Unregulated brokers are mostly scams, and operating for years without even one offshore license is a strong indicator of potential fraud. One of the primary concerns with LexaTrade is its lack of regulation by reputed authorities such as CySec, ASIC, FCA, CNMV, and others.

I got introduced to this broker via…

They pretend to be a friend or romantic partner to gain trust, sometimes over weeks or months. The first major issue is that LexaTrade is not licensed by any official regulator. This is dangerous because real investment firms must follow rules set by authorities like the FCA, SEC, ASIC, or CySEC. These regulators make sure your money is protected.

I lost so much and was really…

It also offers a live chat plugin for quick contact and support. With the surge of online trading platforms, the potential for scams has also grown, and LexaTrade has emerged as a broker raising serious concerns. In this review, we’ll examine why users should exercise extreme caution if considering LexaTrade. LexaTrade is a global online trading platform offering a range of financial instruments, including forex, commodities, indices, cryptocurrencies, and stocks. It aims to attract traders with promises of high leverage, multiple account types, and extensive educational resources. However, LexaTrade has been the subject of mixed reviews due to concerns about its regulatory status and business practices.

• The basic trading account, which is the Starter account, has 1.6 pips on major pairs, which makes it very expensive.
• The first major issue is that LexaTrade is not licensed by any official regulator.
• LexaTrade offers five different types of trading accounts, including Start, Silver, Gold, Platinum, and VIP.
• I was supposed to get money on 5th December as per account manager.
• The account structure is straightforward, but the high minimum deposits for premium accounts may deter small-scale traders.
• However, you must do your own due diligence and make your own decisions when choosing a broker.

There is no phone support option available, which is a serious red flag. While live chat is the fastest way to contact the broker, phone support has its place when it comes to internet issues and other difficulties. The website is mobile-friendly, but the broker is not multilingual, which is also a noticeable drawback of LexaTrade. LexaTrade lacks educational resources, as no learning materials are available.

As simple as that.Just one example of Pinki Gehlot I will give… She promised to trade for me and saw to it that the equity drains out and one trades out. Once one trades out, they will ask for more deposit for some different type of screen.The least is one star… Besides they do not have any means to escalate follow up nothing.

But now i am told that my trading assistant has been transferred and the new one is pushing me to put in more deposit telling me that i cant withdraw money at the moment. Spreads are high, and minimum deposits are significantly higher than most trusted brokers out there. There is only a list of payment options available on the website of LexaTrade. There are no details about fees for deposits and withdrawals or processing times. Although the broker promises faster withdrawals for its higher-end account, these claims are not trustworthy. Among accepted payment methods are Visa, MasterCard, several wire transfers, Skrill, and several other e-wallets.

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. In this brief yet comprehensive review of LexaTrade, we will analyze and assess its safety, accounts, spreads, profit withdrawals, support, educational resources, and more. LexaTrade falls into the category of UNREGULATED platform. When choosing a platform, caution is warranted if the company lacks regulation by any overseeing agency. This should serve as a warning that your funds may not be secure, and there’s no protective regulatory framework.

The two offshore jurisdictions where the broker is registered are Saint Vincent and the Grenadines and the Marshall Islands. Since it is relatively easy to get licensed offshore and the broker did not care enough to get properly licensed, it could be a scam. In terms of security, LexaTrade uses SSL encryption to protect sensitive data, which is standard for most brokers. This encryption ensures that your personal and financial information remains private when making deposits, withdrawals, or logging into the trading platform.