Overall, Lexatrade’ education section is helpful to get beginner traders started in their trading careers, but it would do well to add materials for more advanced traders. While the additional protection offered by ASIC regulation is welcome, some Australian traders may find the low leverage levels restrictive. Insider View – Lexatrade’s own members only analysis giving insights into real time trades and trends such as open deals, popular currencies, deal direction and disclosure. Financial Calendar – A calendar of upcoming events that impact the money markets including economic indicators, times and locations of announcements, previous rates and forecasts. All traders who make a first deposit USD 100 or above are entitled to receive the First Deposit bonus. The bonus amount is percentage based and linked to the client’s first deposit.
Overall, Lexatrade review shows a brokerage company with a long operational history and absolutely fair and transparent trading conditions. Even though, the Lexatrade are even proud to be a market making broker since they ensure the stable trading conditions to their client under any market conditions and even extreme volatility.
When you open your ‘Open Trades Report,’ you’ll see all the trades that you can cancel. If the deal is not going as you had anticipated, go ahead and cancel it. With this platform, you can easily take advantage of volatility or risk high amounts without limiting your trade potential. So far, you have access to two market orders and four pending orders. It has over 30 indicators and over 24 drawing tools pre-installed for you. You can take advantage of the predesigned templates on the platform or create yours. Most withdrawal methods do not have a minimum withdrawal amount, except for bank transfers that require a minimum withdrawal amount of $50.
Types Of Mobile Trading
Lexatrade also offers the services of Trading Central and its brand new addition, Trading View, both of which are available for free on MT4. Our reviewers are happy to report that Lexatrade does not charge any commissions or fees on deposits and withdrawals. The company provides you with a plethora of payment methods too, including credit/debit cards, online banking, e-wallets and bank wire transfers. It should also be noted that many brokers don’t offer access to MT4 plugins; this is unfortunate, but Lexatrade isn’t alone in this regard. A proprietary trading platform, besides the popular MT4 trading platform, has been developed with more than 200 assets available for trade with a fixed spread. Lexatrade has a healthy balance sheet with stable cash flow; approximately 74% of the broker’s retail traders tend to lose money, which directly profits Lexatrade. As a market maker, they are able to offer guaranteed stop losses and negative balance protection.
The support team is available 24-hours-a-day, 5-days a week Monday to Friday). Traders can upgrade to a real account by tapping the ‘My Account’ menu item at the bottom of the screen and selecting the ‘Make a Deposit’ button. To make a withdrawal, Lexatrade requires proof lexatrade forex brokers reviews of identity and proof of address . You must provide your name, email, country of origin, and phone number. Then, you answer a few questions about your background and financial knowledge. Aside from MiFID, CySec, AFS, ASIC licensing, Lexatrade is also regulated by the BIV.
- It’s simple and accessible, with powerful features just like the web platform.
- So, the following are some of the cons that you must know about Lexatrade.
- The app is highly compatible with the devices, so you experience no delays when executing trades or canceling orders.
- The broker is regulated and authorized by renowned government agencies across multiple jurisdictions.
- Let’s face it, even the industry itself uses the short form ‘Forex’ to describe itself.
MetaTrader 4 is one of the most popular trading platforms in the world. MT4 is well known for its easy to use interface and quick lexatrade reviews learning curve. It was developed by Russian company MetaQuotes, is available in multiple languages and free to download.
Tradinggator
The broker accepts deposits in 18 different currencies, easing the account funding process and eliminating exchange charges. The accepted base currencies are USD, GBP, EUR, CHF, CAD, CNY, HKD, AUD, CZK, JPY, NOK, ZAR, SGD, MXN, NZD, SEK, PLN, & TRY. Going deeper into Lexatrade technology, the designed Market Explorer gives deep market insight, showing the real-time rates of 200+ instruments available to trade.
Sometimes the platform lags a bit and when you place your trade the rates change at the backend. In this way, the trade you place is placed at the backend rate and not at the rate you see on the front end of your platform. Lexatrade makes sure that there is no slippage, and all your trades are at the same rate. This website does not provide investment advice, nor is it an offer or solicitation of any kind to buy or sell any investment products.
They stand behind their philosophy to be openly accessible for all types of traders, simple for those starting out, and practical for even the most advanced traders. What’s more, Lexatrade has transparent pricing with fixed spreads and no commissions on deposits or withdrawals. They are one of the longest serving and largest brokers with many years of expertise and hundreds of thousands of clients in 160+ countries worldwide. EasyTrade – In 2018, Lexatrade launched its latest trading innovation – easyTrade. This simplified platform allows Lexatrade clients to trade without margin requirements, high leverage, and features zero spreads. It also simplifies trading to just three steps – choose your maximum risk, the duration of your trade, and decide whether the rate will go up and down. Simplified trading allows novice traders to trade without distractions or extra functions.
Instead of physical working and services, most people have now switched towards online working. If you already have an account and are logged in, you may deposit at the top of your screen in “My Lexatrade.” If you do not have a registered account, you must create one before you could deposit. You can set your account and platform to send you up to date notifications to keep you informed about the latest market and account activity. Trading leveraged lexatrade scam products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital. Finally, a trading glossary and FAQ sections are also available to support learning. Economic Indicators is an excellent interactive breakdown of the various economic indicators (e.g. TIC data, PMI, etc.) and their relative effect on markets. The Knowledge Base is a collection of articles on topics useful to new traders.
Lexatrade Instruments
You can use the MT4, WebTrader or the mobile app version of their platform. The user interface has a simple design to make it easy for anyone to navigate the financial markets. Lexatrade is a Forex broker who serves his client in several jurisdictions – including ASIC and CySEC. The account could be open to a huge number of different currencies .
There are several precious metal derivatives like CFDs and futures. Steven HatzakisSteven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative. The following table summarizes the different investment products available to Lexatrade clients. You can reach them at their physical office, Ajeltake Road, Trust Company Complex, MH 96960, Ajeltake Island, Majuro, Marshall Islands.
Risk Warning:
The CySEC provides one of the best regulatory environments for investors that guarantees the protection of funds and immunity against broker scams. The CySEC is affiliated with the European Central Bank and other European regulatory authorities, which brings it directly under the MiFID derivatives and EEA initiative. CySEC Forex brokers can operate in any part of the EU with a valid CySEC license, which allows Lexatrade to offers its services to traders from the EU without any additional licenses.
Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information. Considering this, our reviews show that Lexatrade is the better broker for beginner traders as it offers a larger range of educational tools and materials. Lexatrade offices are located in Shanghai, Sydney and Limassol , as well at the Marshall Islands to be able offer services globally and provide personal customer service. The company strives to deliver trustful trading conditions in response to market volatility with fixed spread and no slippage, thus the traders always know their costs. One should know that Forex trading or any other kind of trading involves high risks, and is not suitable for everyone. Before trading Forex or any other financial tool one should be aware of the risks, know exactly his investment goals and limits and acquire a fine level of risk understanding and risk management. A large percentage of retail investor accounts lose money when trading CFDs with this provider.
DealCancellation – unique to Lexatrade, this tool allows clients to cancel an order within six hours of making a trade. Traders are charged a fee for using this service, which is based on the market volatility of the instrument being traded. A well-regulated CFD provider, Lexatrade ensures that all Anti-Money Laundering rules and regulations are followed. As such, all non-profit funds are returned to the original deposit source. No matter your deposit method, the withdrawal of all profits must be made by bank transfer to a bank account in your name.
Instruments Traded
You can then download the trading platforms and fund your account. Client funds are held in segregated top tier global bank accounts away from the company funds so that they cannot be used for any other purpose. These funds are only accessible to clients and readily available as and when they need them. All trading accounts have negative balance protection that guarantees a client cannot lose more than their initial investment. Lexatrade offers a limited range of trading tools compared to other brokers, but it provides excellent risk-management and technical analysis tools.
They told me that when they told me they were restricting my account deposits. So many times I tried to close a position and I got an error message which cost me money.
It will also help you choose the best trading platform for your manual or automated trading. Covering Forex platforms, trading apps, broker reviews, and all regulated online trading sites. The working methodology of Lexatrade is no different than some of its competitors, however, the interesting part is that it was one of the first online trading platforms. Apart from everything and all the features, Lexatrade was focused on making trading possible for even the individuals with lease savings. The demo account is designed to help traders familiarize themselves with the broker’s platform and practice their trading strategies with virtual funds before opening a real account. Lexatrade do not provide services for residents of certain regions, such as the United States of America, Israel, Iran, North Korea, Iraq and some other countries. Some Lexatrade broker features and products mentioned within this Lexatrade review may not be available to traders from specific countries due to legal restrictions.
