Also, Lexatrade does not charge any fees on credit card/electronic wallet deposits as well, yet may vary from entity rules to another. Also, you may compare Lexatrade fees to its peer BlackBull markets and other lexatrade official site popular brokers listed below. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.
A Client Agreement document is also available on the General terms and conditions page. It could have been made more clear that the benefits of being a CySEC regulated broker are available only to existing clients in the EU.
Chat Support Is Amazing
You will also access useful information with market alerts, trading information, and analysis through its established Lexatrade Blog, which is definitely good and necessary for any trader, especially beginners. Proper education guarantees a client will be able to review data online in a better way before investing. Lexatrade offers mostly free deposits and withdrawals, with the exception of bank wires under 100, where a 10 EUR/USD/GBP flat fee is charged.
Understanding a broker’s strengths and weaknesses is crucial when you come to trade forex and CFDs. FX Empire’s proprietary rating system was developed for exactly this purpose.
Lexatrade’s Org Chart
You can withdraw any profits made from your trades, or your entire account balance at any time of your choosing with Lexatrade. Withdrawal methods are more limited than the deposit payment methods, however, processing times are among the quickest on the market. More information can be found in the “Payments” section of this Lexatrade Review. In this section of our Lexatrade Review 2022, we’ll focus on the website, trading platform and security. First of all, the Lexatrade website is run from inside Switzerland, however, you are given the option to access the EU website as well.
I jumped through the ridiculous hoops to get my money back and then they come up with another excuse not to give it back. If a broker has a score less than 80, like this one, we won’t recommend it to you. So that we don’t waste your time, we don’t update these reviews either. We know you don’t want to read a long review of an untrustworthy broker. Instead, you can use the tool below to find a high-scoring broker that accepts clients from your country. The Cyprus Securities and Exchange Commission was established in accordance with section 5 of the Securities and Exchange Commission Law of 2001 as a public legal entity. It also supervises the firms offering administrative services which do not fall under the supervision of ICPAC and the Cyprus Bar Association.
Is Lexatrade A Regulated Broker?
Forex trading, also called currency or FX trading, involves the currency exchange market where individuals, companies, and financial institutions exchange currencies for one another at floating rates. The Lexatrade WebTrader is the company’s in-house trading platform that has been designed specifically for the various needs of a growing client base. Such a bonus is but a way to compensate traders for choosing a certain broker since once the account is opened, the trader will have the same expenses as any other.
Hi Kim, thank you for your comment, yes Lexatrade is operating in Canada under BDS Ltd whish is authorized and regulated by the Financial Services Authority Seychelles under license number SD047. If you have any concerns about the call you received, you can contact us at and share with us some more information and our Team will happily investigate this for you. 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. Trading Central is a comprehensive suite of trading tools that offer traders the latest market insights created via a combination of AI indicators, automated pattern recognition, and analyst research. By maintaining optimum support and assistance, refined products and full transparency the Lexatrade also educates its clients through its Academy.
Lexatrade has customer support that is offered in numerous languages, each provided with its own telephone number. Clients can get support through WhatsApp, Telegram, Email, call back or live chat. Potential traders need to be assured that the broker company they chose can offer the necessary support and help whenever they may need it. Lexatrade offers traders access to over 50 Forex pairs, more than 5 commodities, 140+ equities, 20+ Cryptocurrencies, and 10+ Indices. A forex account is a trading account held by a trader with a company like Lexatrade that is primarily issued with the purpose of trading currencies. Receive Free Forex Signal from Yadix this February – Thousands of private signals Yadix offers the Free Forex Signal that provide traders accurate and valuable market signals.
Lexatrade is a professional online Forex and CFD broker with international financial licenses. The document that can definitively confirm the effective and real residence must be as recent as possible , contains the data of the Lexatrade account holder, date of issue, current address, name and surname. The document in question can be sent both in PDF format and by photograph as long as it is clear and legible (bill, bank statement, credit card statement, etc.). In order to proceed with the verification, each trader must provide, within the pre-established time limit, the necessary documentation listed below. CySEC and FSC regulation provides an adequate layer of security, and this broker has been compliant with all stipulations.
Lexatrade Deposit And Withdrawals
For the demo account, you need to register and contact your account manager in order to have demo funds added to your accounts. Customers of different languages can also work easily on the website finding their languages by search.
- SO yes you can trade Cryptocurrencies based on CFDs also with quite good costs.
- Comments including inappropriate, irrelevant or promotional links will also be removed.
- Their website is well organized and always kept in tiptop condition, with updates and comprehensive info about trading conditions.
- Lexatrade brokers have multilingual customer support which is unique and great for its overseas clients.
- Effectively, this means that you never actually own the underlying asset of the cryptocurrency itself.
By maintaining optimum support and assistance, refined products, and full transparency, the Lexatrade also educates its clients through its Academy. Educational resources covering useful information on how to operate in capital and markets, develop own trading strategy with accredited courses and webinars. Since the approach of the company establishment comes from Switzerland, its strong basis is confirmed by the great environment the company built.
Withdrawal Was Great And Fast Service Use: Livelength Of Use: 0
While this broker describes itself as part of a worldwide operating group with holdings in Switzerland, the primary regulator appears to be the Cyprus Securities and Exchange Commission . Lexatrade is also regulated by the Financial Services Commission of Mauritius which allows the broker to offer non-EU residents more flexible leverage options. The broker is home to over 1.3 million accounts, over 30 billion in average monthly Forex volume .
You should login to your Client Portal and submit a withdrawal request by following of the required procedure. For the most accurate data check on the official Lexatrade platform and verify its allowance with your residual status, lexatrade scam also make sure to check each instrument separately as it varies according to the asset as well. However, as we always recommend check on the regulation carefully and never sign in with an only offshore registered broker .
This broker did not score well during our testing process and is not recommended by our experts. We strongly lexatrade cheating suggest choosing a broker that has gained a high score through excelling in all departments instead.
The positives are the payment processing times and lack of fees. Meanwhile, the negatives include the high account inactivity fees. Having started in 2012, Lexatrade hasn’t been able to grow its client base to over 1 million users by accident. The platform itself is easy to use and the margins on offer will suit most traders. As well as crypto trading, which we discussed in the above section of this Lexatrade Review, account holders can also trade in a range of Forex and CFDs with Lexatrade.