The same goes for visuals, as the various elements are glaringly mismatched. It looks like the broker took stock images, put them in boxes, and called it a day. Of course, broker appearance is nearly entirely irrelevant, but our point is that Lexatrade looks like something hastily put together.

We aren’t the biggest fan of the huge jumps between the sums you need for different account types. However, that’s a minor complaint, as what you get for each account is actually pretty fair for the price point. One more significant concern is that the broker locks the MT4 platform behind the more expensive account types. The setup itself is tried and true and is one of the most common ways for brokers to structure their accounts. It allows them the greatest reach, as the primary concern with the accounts is budget rather than trading style.

LexaTrade has gained recognition as a reputable multi-asset broker by providing quality services and financial instruments to its clients. Lexatrade has potential, but it also has a lot of things bogging it down and making numerous questionable decisions. The asset access is limited, your withdrawal requests are low priority, and the spreads are extremely high. We’re nearly certain the broker made the accounts just to seem more open. However, better options are present online, and it’s easy for most traders to switch. Lexatrade is new forex and CFDs brokerage that primarily operates in Europe.

How To Trade On LexaTrade?

Lexa Trade allows global traders to access financial markets, including Forex, Stocks etc. However, the broker has a low user rating, with mixed reviews as some complain about the platform while others appraise it. So, to help you out in deciding whether it’s a worthy broker, let’s take an in-depth look at the platform with our detailed LexaTrade review. LexaTrade is a reliable broker that provides exceptional speed, functionality, and profitability. The platform is designed to offer a convenient and user-friendly trading experience, with excellent terminals that make trading profitable while minimizing risks. With over 170 trading instruments, various tools, and timely risk management features, the platform ensures a high-quality trading experience overall.

• However, that’s a minor complaint, as what you get for each account is actually pretty fair for the price point.
• As you progress through the accounts, the bonus we mentioned earlier in our Lexatrade review grows.
• But there’s also the fact that while it’s better than nothing, it’s not a significant improvement.

It opened just earlier this year and has attracted a good bit of attention as such. In our Lexatrade review, we’ll look at how beneficial it is for customers compared to other options. The only extra worth mentioning is the Autochartist which is available right on the trading platform and is free of charge. It offers signals and pattern recognition and is generally regarded as a reliable tool but of course there are no guarantees that it will be profitable.

Customer Support

A mobile platform is available but Demo accounts are not; US traders are not accepted. Overall this is a promising broker but a few tweaks here and there would make it a better one. That being said, they are very new at the time of this review, so there is time for improvement. 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.

What is the maximum leverage offered by LexaTrade?

However, it is an offshore broker restricted to operating in the US and Europe. The platform supports  bank wire, credit /debit cards, Skrill, Neteller and OrangePay for both deposits and withdrawals. LexaTrade is a Forex and CFD broker that offers to trade in currencies, https://cryptolisting.org/blog/how-do-you-allocate-service-department-costs-to-production-departments indices, and commodities. The parent company of LexaTrade is Swissone Group Ltd, located in St. Vincent and the Grenadines. It offers a diverse range of payment options ranging from bank wire transfers to credit/debit cards, from Skrill to Neteller.

Customer Service at Lexatrade

The enhanced account offering helps traders to trade efficiently and thus improves their trading game. The broker is regulated, but not efficiently by a tier 1 regulation, so clients should be careful while investing with the broker. Even Though the regulation of brokers is not refined, the reviews of the broker online are satisfactory.

Editor’s Note: Why LexaTrade Doesn’t Suck in 50 Words

Many regulated brokers allow $50 and even $10 as minimum deposits, so maybe you should pick one of those. On the other hand, if you are confident in your abilities and $250 is not a lot for you, then LexaTrade may be a good choice. On the other hand, the majority of traders don’t need Expert Advisors, scripts and the (sometimes) stuffy interface of Meta Trader. Besides, LexaTrade’s Web platform offers all the tools that can turn a skilled trader into a profitable trader. The broker doesn’t hide the fact that it’s trying to goad you into depositing more. Even the withdrawal speeds increase as you go up to the higher accounts.

LexaTrade Review 2023: Is It A Scam? Unbiased Review

Sadly, as it is a web-based interface, the choice of indicators is limited. The platform allows traders to access all popular commodities worldwide. However, much information regarding the same is unavailable on its website. The deposits are processed instantly, while withdrawal may take up to 3-5 business days. LexaTrade can make a CFD transaction electronically and without a prescription.