In the above case, the reviewer was an employee of LexaTrade, making the review biased and misleading. LexaTrade is the trading name of UR Trade Fix LTD, a global multi-asset broker founded in 2011 with headquarters in Cyprus. Regulated and authorized by Cyprus Securities and Exchange Commission , it boasts 10,000+ users. Still, it has no presence in the US, North Korea, Israel, and Iran.
LexaTrade is a simple online trading platform that prides itself on making it easy for any trader to invest in financial markets. As a regulated broker, LexaTrade does not offer any form of investment advice.
LexaTrade Fees Explained
it’s 2019, and people are not using traders that are scatchy. Glad to know the LexaTrade.com is regulated in Cyprus, i have good faith in Cysec. But the pro version is not where you want to put you money. LexaTrade.com is a regulated Forex broker in Cyprus and enjoys the regulatory body of the EU, as well as regulation in South Africa.
Then, that same evening he got someone else to call me to try and coerce me into putting another £2500 in but I held my ground and said no. Trading on the financial markets with LexaTrade is not a get rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading your chance of success will greatly increase. Dont be scared off by brokers like LexaTrade charging a minimum deposit to open a trading account. Brokers that charge higher minimum deposits often offer additional premium services on there platforms that are not available for free on other platforms.
- Depending on location, regional options may be available to traders.
- Our account was activated within 24 hours after uploading the required documents.
- It is only difficult for people who have not done the research.
- LexaTrade’s partner is regulated by the EU and its license falls under the Prevention of Money Laundering and Funding of Terrorism Regulations.
- Real-time price streaming based on each user’s connected trading account.
- Unfortunately, smaller traders with low initial funds have more need for education and guidance than savvy traders who already know how to play the market.
In fact, we never really found any consistently top performing traders on Electronic trading platform and never did any traders make it on our list of “best traders to copy“. Hence the fact that you can no longer ‘automatically’ copy other traders, but just follow them, isn’t much of a loss in terms of functionality in our opinion. In terms of brokerage, LexaTrade is an STP broker which means they transmit your trade to the liquidity providers through a fully automated, non-dealing desk intervention system.
Related LexaTrade Vs Comparisons
I.e. similar to what you’d expect from a standard online broker. In our own LexaTrade experience the sign-up process was very straightforward. Our account was activated within 24 hours after uploading the required documents. An account manager will also contact you to set-up a one-to-one session to take you through the platform . Pretty useful and our account manager was able to answer all our questions direct on the call without having to revert back (i.e. they were knowledgeable). CFDs are leveraged products and can result in the loss of your capital.
A featured listing does not constitute a recommendation or endorsement. For example, on the internet and on some specialized forums we were able to find people expressing both positive and negative opinions regarding the system which allows traders to copy one another. In the end, this is the feature which makes this broker special. We also found many positive comments about the trading platform as well as this broker’s safety. As we already mentioned, it is also possible to use the MT4 trading platform, and as far as platforms are concerned, LexaTrade ranks very high among online brokers.
There is no doubt that the services offered by LexaTrade can be very interesting and advantageous to their clients. For this reason, we will carry out a review of LexaTrade by answering key questions to see whether it is a good idea to choose LexaTrade as your online broker. Upon review, our team will send you a confirmation email. Please note that all withdrawals are processed to the same source as your deposit. Credit card transactions may take up to 48 hours to appear in your account and bank wires can take up to 10 business days.
Thursday, May 20th:
And finally, the maximum drawdown figures look questionable since with some traders it shows historic drawdown of over 500%! This is strange since the maximum possible drawdown is 100%, at which stage the account lost everything. In such cases, it’s better to just follow traders, and individually pick the trades you want to copy instead of blindly copying our their lexatrade scammers trades. The Trading Feed shows real-time trades executed by other traders. You can directly copy a trade from the feed if you want to take the same position. In addition under the candles or bars in your chart, you can see who was buying or selling at that specific time. E.g. you can look back in time and find which traders were buying or selling at the right time.
Credit card deposits are capped at $5,000 per deposit and $10,000 per day. All withdrawal requests are processed on the same or following business day and has a flat fee of $20 per withdrawal. lexatrade is an STP broker, which means that it does not have its own trading desk, instead, it transmits its clients’ trades directly to the operators who provided the liquidity to the brokers. Several things, one of which is that LexaTrade does not earn any profit when its traders lose, and for this reason they are always on the side of their clients.
LexaTrade also offer mobile apps, for Android and iOS making it easier to keep an eye on and execute your trades while you’re on the move. You can trade a wide variety of instruments with LexaTrade over 100 instruments infact. Broker commissions are charged if the brokerage fulfills an order, cancels an order or modifies and order on your behalf. Now that we have answered some important questions regrding LexaTrade. This means LexaTrade are supervised by and is checked for conduct by the Cyprus Securities and Exchange Commission regulatory bodies.
In regards to leverage and margin based trading you will be exposed to a high risk of loss. Some financial instruments and derivatives that are off exchange may offer varying leverage and may have limited regulatory protection and high market volatility. It should never be presumed that any investment products, techniques, indicators or any other presented resources will result in profits. You should be aware that investing may result in financial loss. LexaTrade uses the latest social networking and online trading technology to provide its users with a platform to share trading information and follow other traders. LexaTrade was created by Forex and social data experts who received financial backing by top venture capital firms. Users have access to market feeds, charts and social platforms that can be used to enhance their trading experience in Forex, stocks, indices and commodities.
Our dedicated support team is standing by around-the-clock, ready to assist with any questions or concerns you may have. It goes without saying that this service is entirely free, and the only cost paid by traders is in commissions as we will discuss in more detail later. The most horrible financial experience I ever had, I feel like I put the money in the toilet & flush it bye bye.
Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high stock market risk of losing your money. Because auto-copying is no longer available, slippage cost isn’t really relevant anymore. However it may be worth mentioning that at the time we did some tests, slippage was very low compared to some other copying platforms.
The LexaTrade platform is available to use on multiple devices incldingIOS devices like iPhones and iPads, and online through a Web Browser. The content in this LexaTrade review does not apply to US users.
Nevertheless, you can get some indication of the trader’s trading style and historical performance. You can also follow them using your demo account first to more closely monitor them for a while before you consider copying one of their trade signals with a real money account. It is a complete web-based trading platform with fully integrated social network features. euro dollar forecast has been facilitating trade on the financial markets for over 10 years. LexaTrade offers clients Forex trading, CFDs trading, and Social trading.
Whats The LexaTrade Trading Experience Like?
Finally, we’ve listed some of the popular funding methods that LexaTrade offers its traders below. LexaTrade also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.
Hence LexaTrade is more suited to active traders who enjoy engaging with others. Passive investors who just want to copy others should go ahead and try other alternatives like ZuluLexaTrader Ayondo. Please consider that customer support has been very poor and the spreads are fairly high as well. However, apart from that trader we never profited from auto-copying any others.
Before trading online with a broker such as LexaTrade you should be sure they’re legitimate online agent. Try creating two accounts when you are working with LexaTrade. One is the real account, with your real money and the other is your demo account. You can sign up for a demo account to acquaint yourself with LexaTrade platform. They give traders access to major markets like currencies, indices, commodities and shares. For traders interested in cryptocurrencies like Bitcoin, LexaTrade is one of the few brokers that also offer cryptocurrency CFDs.