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LexaTrade Review Of Forex And Binary Options Broker

You should consider whether you are fully aware of the risks involved and the high probability of losing your money. As a Straight Through Processing Forex broker, LexaTrade has been growing steadily among traders who look for a bit more from their broker than the most competitive fee structure and low spreads. Although they do not charge any commissions for ECN accounts, the spreads are rather high, unless you do not mind trading their subscription based Raw Spread account’s with the MetaTrader 4 platform.

There are some customisation options, but nowhere near as many as I’d like, and the more experienced traders may see this as a significant negative point. When I was writing this review, I downloaded the app for myself – I wanted to try it out and see it working first-hand. It’s also fully compatible with the LexaTrade Web Trader platform and mobile apps. It gives you the chance to overlay a number of analytical studies and provides you with daily account statements too, so you’re always in the loop regarding how you’re getting on. I feel like LexaTrade have included all the important features, without overdoing things and making the platform unnecessarily complex.

Yet in case you would like to withdraw less than the mentioned amount the broker may add on a fixed processing fee of 10$. LexaTrade is a trading name of the LexaTrade Holdings Ltd., a company incorporated under the laws of lexatrade scammers Cyprus which also holds a Cyprus Securities and Exchange Commission license to provide its legal financial and trading services. Risk Warning – Between 74-89% of retail investor accounts lose money when trading CFDs.

LexaTrade forex broker

The classic account carries an averagespread of 1.5 pips, an unacceptable mark-up relative to the industry. A reduction to an average of 1.1 pips in the VIP account is combined with up to 40% lower commissions on all indices and shares. Forex, cryptocurrencies, and commodities are commission-free. This broker deploys a reasonable fee structure for index CFDs at $2 per lot, and a 0.15% charge per share applies to equity CFDs. Foreign Exchange trading, also known as Forex or FX trading, has gained enormous popularity in recent years among layman individuals due to the growth of online brokers and the technological development of online trading platforms. With high liquidity, non-stop opening hours 5 days a week, and great opportunities, it is no wonder that the forex market is the world’s most traded market with a daily trading volume of $5 trillion USD.

Does LexaTrade Offer Negative Balance Protection?

However, one thing I wasn’t keen on is that you do need to talk directly with a member of the customer support team in order for your demo account to be activated. They offer a proprietary trading platform, along with MetaTrader4 and MetaTrader5, and offer commission-free trading, raw spreads and a good selection of investment/trading options. We are happy to hear that you are satisfied with our services and more specifically with Dona’s assistance. We are glad to see that your withdrawal issue has now been resolved and we hope you continue to enjoy trading with LexaTrade. We are very happy to hear that you are satisfied with our customer service and we are glad to know that your support agent was patient and assisted you with any questions you had. Our Introducing Broker programme is suited to individuals and institutions with a local presence and a personal client network, enabling you to introduce your clients to one of the most trusted brokerage firms in the forex industry.

LexaTrade forex broker

Also, you may compare LexaTrade fees to its peer LexaTrade Trading and other popular brokers listed below. As MetaQuote has stopped offering MT4 licenses to new brokers, it is recommended that you try to migrate existing automated systems to MT5 to future proof your strategies. However, as LexaTrade does not offer the MT5 platform for the Raw Spread account, trading on the latest platform would be relatively expensive with this broker. With MetaTrader 4, traders get more choice of custom-built indicators and automated trading algorithms as the platform has been in service much longer and the trading community has been developing these tools with it for over a decade.

Beware With This Broker , Scam Service Use: Livelength Of Use: 0

What is more, LexaTrade is ultra transparent when it comes to spread widening during highly volatile markets. The broker diligently gives traders a heads up before extremely volatile markets and does not manipulate spreads which leads to less spread widening, keeping trading costs ultra-low.

LexaTrade forex broker

Its normal to find online brokers like LexaTrade that are not regulated yet appear to be legitimate. Any payments funded to LexaTrade accounts by traders are held in a segregated bank account. An asset in financial investment, is any security or asset, tangible or intangible, that has a financial value attached. This means that Binary Options are considered financial assets. If you are interested in trading with LexaTradein any capacity please take the time to read and research the whole LexaTrade review. This is why we have taken the time to review only the best brokerage firms, their practices, their fee structure and all other important aspects. We want you to evaluate and analyse and trust your hard-earned cash with only the safest and best of brokers.

Alternatives To LexaTrade

As a regulated broker, LexaTrade has the obligation to know its clients , which is why it requires you to verify your identity. To verify your account, you are required to provide proof of identity and proof of residence and complete a quick questionnaire . You can upload the documents through the LexaTrade dashboard or use the LexaTrade Mobile App to directly scan your documents and upload them on LexaTrade’ systems. LexaTrade does not have any control of the funds once they are processed and the time needed for the funds to be transferred to the client’s account may vary, depending on the payment method. By maintaining optimum support and assistance, refined products and full transparency the LexaTrade also educates its clients through its Academy.

LexaTrade forex broker

Since the approach of the company establishment comes from Switzerland, its strong basis confirmed by the great environment company built. And ever since providing online trading services as a worldwide operating group with its headquarters in Limassol – Cyprus and established offices in Berlin – Germany, Kuala Lumpur – Malaysia, Tirana – Albania, Pristina – Kosovo. The live chat option is presented on the broker’s website and can be directly used without searching the website up and down. Alternatively, you can also contact the support team via phone or e-mail for any info you could possibly need. The beginning of each trading session is when the big institutions, such as Central Banks release their monthly and yearly data or meet to make important monetary decisions.

Does LexaTrade Offer Guaranteed Stop Loss?

In GMT time, Australia starts the trading day, with Sydney opening from 9pm to 6am the following day, followed by Japan from 11pm to 8am, and then joined by Hong Kong and Singapore. Then comes Europe, with London, opening at 7am and closing at 4pm and finally, the US concludes the day, with New York opening from 12pm to 9pm. At this point forex volatility will begin to wind down before the whole process begins anew a few hours later. LexaTrade’s platforms are available for trading currency pairs 24 hours a day, 5 days a week (Monday – Friday), but some cryptocurrency pairs are available for trading on a 24/7 basis. It is also important to note that the aforementioned times are subject to Daylight Savings Time, which begins on the last Sunday of March and ends on the last Sunday in October.

LexaTrade forex broker

Combined with a highly volatile and extremely competitive CFD market, the FX/CFD industry has attracted massive attention and an ever increasing number of individual investors. Unsurprisingly, trading activity of that size and scope creates unique challenges regarding market regulation.

How Much Is The LexaTrade Leverage?

The massive variety of tradable options is also a very positive feature of LexaTrade, for both the Swiss and the European platforms. Benefits vary with each level, with VIP access, charting tools and access to an account manager all dependant stock exchange on the account type or deposit size. LexaTrade accounts include the Classic Account for retail traders, the VIP account, which is offers reduced spreads and the Raw account, which offers even tighter spreads and is the most popular choice.

LexaTrade forex broker

The Classic Account has a minimum deposit of $100, the VIP Account $3,000 and the Raw Account $5,000. It offers spreads from 1.1 and again, has no FX commission. One of the first indications that LexaTrade is geared more towards experienced traders rather than beginners is the minimum amounts required to actually open an account. When trading Forex, you are buying one currency by using another.

  • The primary regulator is located in Cyprus, secondary regulatory is based in Mauritius, and one operating subsidiary is registered with theNFA.
  • Small commissions of 0.1% are charged for stock CFD trades, and you’ll also be charged a fee when you decide to roll a trade over to the following day.
  • Please read LexaTrade Reviews below and share live trading experiences with this broker.
  • We really appreciate it and we are delighted to hear that you are enjoying your LexaTrade Experience so far.
  • The broker is equally successful with binary options as with Forex.
  • The goal of any forex trading is to anticipate currency increases or drops in order to profit from sales or purchases.

We are delighted to hear that you are satisfied with our services and more specifically with Rodoulla’s consistent high quality of assistance. Once at the beginning of the month between the 1st and the 5th of each month and once in the middle of the month between the 15th and the 20th of the month. Also, the IB commission needs to reach a minimum of $100 or account currency equivalent to be paid. For those of you who offer kickback to your clients, you can now set a rebate lexatrade reviews percentage and provide this service with a simple click of a button. Our new reporting tools enable you to conduct thorough performance analysis to maximize your portfolio’s potential. Find out exactly which months are your best performers, understand where your marketing strategy may need fine-tuning or get a real feel as to what your clients are actually looking for. All contents on this site is for informational purposes only and does not constitute financial advice.

Today LexaTrade is part of a worldwide operating group with its holding in Zug, Switzerland. The business was established back in 2012 and has since then been providing online trading services to almost a million clients worldwide. Each broker was graded on 108 different variables, including our proprietary Trust Score algorithm. This innovative scoring system ranks the level of trustworthiness for each broker based on factors such as licenses, regulation and corporate structure .

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