This faith helps us to commit non-standard actions, some of which bring results in the form of monetary reward. At the same time, other lovers of money – they find a free moment to study this issue in detail, and then turn this fascinating occupation into a stable source of income. In order to understand this question, you need to study in detail who the brokers are, what they offer their clients, and where the money comes from for traders. As an illustrative example, take the well-known trading platform LexaTrade. For a platform to be considered favorable to traders, it must allow them to withdraw their funds easily and anytime they wish.
Sophisticated trading technologies such as One Click Trading, Pre-installed Indicators, and analysis tools. We advise you to read LexaTrade’ risk disclosure, customer agreement, and terms of business before you start trading. Due to robust internal processes, high industry recognition, and strong regulation from two primary international regulators, our view is that LexaTrade is safe for traders. Regarding technology, the broker has a state of the art analytics tools incorporating artificial intelligence, the leading technology in smart trading. Specialising in Forex but also offering stocks and tight spreads on CFDs and Spread betting across a huge range of markets. However, it’s important to remember that not all markets are open all day, every day. This means that trading is restricted to the hours when markets you want to trade within are open.
The LexaTrade App
The LexaTrade review analysis found that most forex trading Australia individuals praised the adoption of fixed spreads as they are competitive and affordable. People also like the MT4 trading platform and its ease of use for new traders. Trading accounts can be set up with as little as $200, which comparatively is extremely affordable. Customers also are quite fond of the multitude of payment options and fast payouts, citing very few issues lexatrade scammers or difficulties. Since they commenced operations in 2001, LexaTrade has been providing flexible trading platforms, innovative features, and more than 200 global markets to clients all over the globe. They offer forex and CFD trading in currency pairs, cryptocurrency, indices, options, bonds, ETFs, metals, energies, and other commodities. LexaTrade is well-established and strictly regulated and has won over 30 international awards.
When you have this account level, you will get your own personal account manager. This is really quite refreshing as it gives you that delicate “human touch”. The first thing to note about the VIP status is that it can attained with a relatively low initial deposit. Compared to many other brokers which require $20,000 plus, LexaTrade has a pretty strong selling point at $2,500. The really cool thing about easyTrade is that unlike Binary options, it is fully ESMA compliant. This means that it is within the regulatory framework set out by the European agencies.
If a clients trading account dues not have any buying and selling over a period of time as dictated by the broker an inactivity fee may be due. Depending on the type of trading account you opt for some brokers require a minimum deposit as high as 6500 GBP/USD. Brokers that do not charge minimum deposits do so usually to attract new customers. They have to make some way, investment for beginners so transaction commissions and other trading fees may be higher with a low minimum deposit account. While trading in financial investments, losing money rapidly due to trading CFD, Forex, Commodities, Indices, Shares, Crypto is not uncommon. Only take the risk of trading when you understand that your invested capital is at risk any time due to market volatility.
Good Beginner Broker, Excellent Customer Service, But Expensive Trading Environment
The VIP service is available with a minimum deposit of $2,500; the “VIP” label is largely a misnomer as the client receives virtually nothing of value which would suggest VIP handling. The buy-in currency was changed to US Dollars from Euros; LexaTrade suggested that the change was an effort to democratize forex trading. However, this is largely viewed as a marketing gimmick to attract greater deposits which contradicts the premise of democratization. Trading Central – Trading Central is provided free of charge to all LexaTrade clients through the MT4 platform.
- You can sign up for a demo account to acquaint yourself with LexaTrade platform.
- Here you can find a lot of useful information about brokers, strategies and the latest news from the world of online investment possibilities and many other interesting things.
- Customer service is helpful, quick, and very easy to get in touch with via Messenger.
- One of the most innovative tools easyMarket offers, giving you the ability to undo a losing trade within 1, 3 or 6 hours.
- When you send in a withdrawal request to LexaTrade, this will be honored.
- LexaTrade has absolutely no restrictions on these EAs so its really only your scripts vs. the market.
This is essentially a free tool that lets the trader freeze the current market rate for 2-3 seconds. Hence, if you observe an important trading level and would like to execute it you can quickly freeze the rate before pulling the trigger. Taking a look at the standard UI, you have all of your key account metrics at the top of the platform. The minimum that you can deposit for any of the accounts is $100. Then you also have a premium account that requires a deposit of $2,000 and a VIP account which requires $10,000. Forwards are some of the most popular financial instruments used by large institutions in order to hedge out the risk of future currency deals.
Easy Markets Vs Other Brokers
The research section consists of six categories, unfortunately, all not specifically valuable to traders. The information can be more efficiently retrieved from within the MT4 trading platform. Additionally, in LexaTrade introduced the brand new dealCancellation tool.
At the moment, LexaTrade does not offer social or copy trading services. However, if you want to engage other types of copy trading, EAs and trading robots are available to use through your MT4 trading platform. These come from markets all around the world in the EU, US, Hong Kong, Japan, and Australia. When trading shares you can also avail of a free guaranteed stop loss, fixed commissions, and no slippage. The benefit here is that you can also earn dividends on shares traded through LexaTrade if the stock does pay a dividend. At LexaTrade, more than 80 CFDs markets are offered through the platform, all of which are available with fixed spreads.
For those traders who are on the go, you will be happy to know that LexaTrade has got a pretty functional mobile app. This is available on iOS and Android devices and has a lot of the same functionality as their main web platform. Because dealCancellation can be considered an “insurance” you will have to pay for this protection.
LexaTrade will agree leverage based on the previous trading record of a user, their individual experience, customer loyalty and several other factors including geographic location. Further, they provide access to multiple markets such as, forex, indices, commodities, metals, shares, cryptocurrencies.
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. Overall, LexaTrade offers a relatively limited suite of trading tools compared to its large international competitors, but it provides excellent risk management tools. The LexaTrade mobile app has more features than the standard MT4 equivalent. It’s user-friendly, fast, easy to navigate, and comes standard with all additional trading features offered on the LexaTrade desktop platform.
Best Forex Demo Accounts
Nevertheless, make sure to check with customer service under which conditions you particularly will fall, as conditions may vary according to the trading entity. We sent messages to LexaTrade livechat through their app and website and recieved a response within 3 minutes. A responsive chat service from LexaTrade gives a great support experience to LexaTrade chat service users. Be aware that Different entities under LexaTrade Brand offer different trading instruments due to regulatory restrictions. Trading instruments offered may differ based on the country of residence of the Client. Commission fees can differ depending on the trading type, financial asset type and what level of trading account you have. We will dive deep in this LexaTrade review and assess how well the LexaTrade platform functions in its role as an international multiple financial asset trading platform for traders in 2021.
The feature is perfect for those new to forex trading, those who like to trade during turbulent periods or those looking to manage the risks of currency trading. When making withdrawals to credit/debit cards and e-wallets, there’s no minimum withdrawal amount.
Likewise, the guaranteed stop loss that we offer on our web platform helps you control your risk on every trade so you never lose more capital than willing to risk. Easy Markets offers the LexaTrade platform and MetaTrader 4 forex trading top platform. LexaTrade.com offers over 60 forex currency pairs, cfds, commodities, shares, indices, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options. All that ensures the traders’ safety especially to those who trade on volatile conditions. We should say something about negative balance protection with LexaTrade. When trading using leverage an adverse move could result in losing more than your trading account balance at LexaTrade.
LexaTrade has absolutely no restrictions on these EAs so its really only your scripts vs. the market. Although the MT4 platform can be considered “advanced”, there are a plethora of resources online that can get you going. If you would like more resources and guides about how to use the MT4 then drop us a contact here.
This means that their services are 100 percent transparent and they provide the needed security to protect both user funds and data. Since 2001, we strive to ensure that our traders receive the best possible trading conditions, products and services. They helped me significantly in starting my journey as a forex trader.
I closed my account today and gave specific instructions as to where the refund should be made and that if that was not going to be followed to notify me immediately. Failure to comply with my specific requirements has cost me a bunch of money. As we understand, you were lexatrade courses scam not aware that these actions were breaching the Client Agreement which you accepted on March 3rd 2020. For this reason, we have gone back to explain to you the following conditions of the Client Agreement that were breached through your trading activity in detail.
LexaTrade features multiple trading platforms for their traders to choose from. No matter if you’re a novice trader just starting out or are an experienced trading veteran, LexaTrade has a platform for you. This information is compiled manually and if you happen to come across any type of inaccuracy or misinterpretation of information, please let us know; this is likely due to human error. From time to time brokers update information such as fees and bonuses. Our forex trading Australia team aims to update these frequently, so we are always relevant to users. However, it is for this reason that the information included in our comparison tables be considered for indicative purposes only. Fixed spreads mean that you will always know what the difference is between the buy and sell rate for currency pairings (eg AUD/USD).