If a broker is not licensed by the regulatory authority in your jurisdiction, that likely means they are unregulated and should be avoided. There is a tremendous risk on any transactions interested traders may
conclude with the brokerage and we deeply recommend they look elsewhere for
viable trading option. Our mission is to assist millions of traders in finding the best broker. We unbiasedly review every broker and rank them based on their market standing, regulation, and other factors. Reviews are updated regularly to ensure that every trader has the most up-to-date information before making a choice.
- The fraudsters will ‘borrow’ some information from a legitimate firm for the purpose of fraud.
- On the bright side, they do make up for it by offering a ton of funding and payment methods.
- A decent enhancement to this kind of search is our scam brokers 2022 list, which indicates who scam brokers are and why you should avoid them.
Similar bonuses often have thick strings attached, so be sure to read the terms if you intend to invest. Again, as we said earlier in our Lexatrade review, the broker doesn’t do anything that sets off alarms. It’s by no means a strict scam, and in fact, it’s safer than the average broker, but you still need to tread carefully. So there’s the argument that some regulation is better than none, and that does hold up.
LexaTrade Review: Deposit and Withdrawal Issues
It offers a diverse range of payment options ranging from bank wire transfers to credit/debit cards, from Skrill to Neteller. LexaTrade has gained recognition as a reputable multi-asset broker by providing quality services and financial instruments to its clients. The most commonly used trick that scammers follow is offering a high bonus. LexaTrade is an online financial services company thats been providing superior and transparent trading services to all traders across the world in the trading markets. LexaTrade offers diverse trading instruments such as Forex, Commodities, Indices and Shares.
- Affiliate marketing is a proven business model and that’s what I recommend to everyone because it’s beginner-friendly and costs little to nothing.
- The broker even partners with reliable and trusted international banking institutions while steering their corporate funds.
- Scam Victims Help has extensively researched the LexaTrade Review and found several red flags that every trader should be aware of.
Brokers Complaint is always trying to find different scam brokers present in the market as how old is lexatrade well as the new emerging scam brokers to warn traders. Through LexaTrade review our aim is to warn traders not to trade with this broker because this broker is suspected to be a scam according to the research done by our team. And without the broker specifying the times, who knows how long it might take for you to get your money. The broker offers its traders two platforms, as we’ve indicated earlier in our Lexatrade review.
LexaTrade Regulation
There are MLM websites that lure people in, then there are survey completion sites. There are investment sites that aim to multiply your money, there are other money-making platforms. The risks involved in using unregulated companies like LexaTrade include the inability to file a complaint with a credible regulatory authority in case of a dispute. It is essential to exercise caution and conduct deep research before engaging with any online trading platform, including LexaTrade. Saint Vincent and the Grenadines is a place that attracts shady
brokers because of their lack of proper licensing laws and a regulatory body. The government of the SVG has stated in the past it does not regulate any form
of forex trading.
Lexa Trade Deposit and Withdrawal Methods
As a webtrader, xCritical can be accessed through a web browser on desktop computers and mobile devices. XCritical mobile app offers an easy-to-use interface, traders can access their trading account on the go, without any hassle. They can open positions, execute trades quickly, and monitor their account balance from anywhere, at any time. Whether a beginner or an experienced trader, the XCritical mobile app is a great way to enhance your trading experience.
LexaTrade Review: Pros And Cons
It’s a non-commercial organization that regulates about 60 brokerages. However, it’s apparent that it’s much less limiting than even the more lenient country-based regulators. Rather than opting LexaTrade scam, we recommend you to incline towards a more trusted platform like InvestFW. Our in-depth and unbiased reviews help investors in choosing the best broker according to their investing needs.
Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. The broker has a low user rating of 2.1, which clearly shows the platform’s low credibility. While looking for the platform on Trustpilot, we went through many complaints, which indicate LexaTrade is a scam. The company charges a service charge of 5% if users make less than 5 independent transactions.
xCritical Mobile App
Live chat support was available at the time of our visit but a bit slow to answer. The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client. LexaTrade is a newly launched, regulated broker that offers CFD trading on currencies, cryptocurrencies, indices, and commodities. The owning/operating company is Swissone Group Ltd, located in St. Vincent and the Grenadines and registered with the IFMRRC – Certificate TSRF RU 0395 AA V0165.
Which Trading platforms are offered by LexaTrade?
Affiliate marketing is a proven business model and that’s what I recommend to everyone because it’s beginner-friendly and costs little to nothing. The investment required is pretty much zero compared to most online businesses. If you’re looking to build an online business that is sustainable, you should consider affiliate marketing. The platform allows traders to access all popular commodities worldwide. However, much information regarding the same is unavailable on its website.
It allows them the greatest reach, as the primary concern with the accounts is budget rather than trading style. That means the accounts suit most strategies, https://cryptolisting.org/blog/double-entry-accounting-accountingtools and as such, can attract diverse groups of traders. Overall this is a promising broker but a few tweaks here and there would make it a better one.