LexaTrade Review 2022 Read about scam broker

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. Live chat support was available at the time of our visit but a bit slow to answer. The minimum deposit is $250 and the available methods are Visa, CryptoWallet and e-Payouts; the processing time is not specified.

  • However, it is an offshore broker restricted to operating in the US and Europe.
  • Of course, broker appearance is nearly entirely irrelevant, but our point is that Lexatrade looks like something hastily put together.
  • The broker can be reached through multiple channels, including phone line and email.
  • The financial products offered by the companies listed on this site pose a high risk and can lead to the loss of all your funds.

So the regulation may impose negligible limits on the broker while generating a false sense of confidence for potential customers. Sadly, as it is a web-based interface, the choice of indicators is limited. 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.

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In an event of theft, complaints can only be made if that broker is licensed by the regulator in your jurisdiction. The first step to protecting yourself from fraudulent parties online is to do thorough due diligence on the companies and entities that you are planning to send the funds to. In all probability, there have been other traders who have already used the same service, and have expressed their opinions and feedback online on various forums. It is essential to exercise caution and conduct deep research before engaging with any online trading platform, including LexaTrade. Therefore, the decision was made not to stand in this respect from Polish brokerage houses and also to share the outcomes of their purchasers. Believing what she said, we agreed to cooperate as she will be trading my account, as a result we signed an agreement authorizing her to use the for trading.

  • They are capable experts with the ability and instruments to detect a con artist and get your assets back.
  • Many fraud forex brokers or other scam brokers are working under fake organization names or other deceitful activities.
  • Despite this, it is an off-shore broker restricted to operate in the US and Europe.
  • Also lexatrade review trustpilot , lexatrade wikipedia are also showing bad numbers.

We are here to conduct a comprehensive evaluation of LexaTrade’s offers and services for the most
in-depth and unbiased verdict. IFMRRC stands for International Financial Market Relations Regulation Center. LexaTrade provides a mulitlingual customer support 24/7 to deal with all queries via live chat, email and telephone. LexaTrade ensures that all client funds are kept in a segregated account from the company’s funds. There are a lot of brokers out there operating under fake company names or that have other fraudulent operations. A little bit of preliminary research can go a long way in protecting you and your finances.

Customer Support

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. XCritical’s trading platform quickly gained popularity thanks to its innovative features that expanded our traders’ capabilities. If a broker is not licensed by the regulatory authority in your jurisdiction, that likely means that they are unregulated and https://cryptolisting.org/blog/what-is-capital-inventory-in-economics should be avoided. Even if the brokerage is regulated, it is best to avoid it if the regulator happens to be outside your jurisdiction. If a broker is not licensed by the regulatory authority in your jurisdiction, that likely means they are unregulated and should be avoided. Simply put, clients do not have to visit any other website and switch tabs to get the latest updates.

Trading Platforms

Brokers Complaint is always trying to find different scam brokers present in the market as 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. A trader, before investing, should research about the broker’s regulation and license.

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But as we said, we don’t like paywalls for core features as a practice, although you may not mind them at all. As you progress through the accounts, the bonus we mentioned earlier in our Lexatrade review grows. Similar bonuses often have thick strings attached, so be sure to read the terms if you intend to invest. The methods for deposit are Visa, CryptoWallet and e-Payouts and we assume the same methods will be used for withdrawals, although LexaTrade doesn’t mention this specifically. Review our tips for indentifing scams to help minimize the chance you will get duped.

How Do You Trade With LexaTrade?

Yes, the broker offers trading services across the globe with a focus on countries like India, South Africa and most of Asian countries. After analyzing the detailed LexaTrade review, we can say the company is totally a scam. 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.

We also help victims of Forex frauds, Binary frauds, Investment scams, Pension frauds and many other types of scams. Here you get assistance perceiving a scam broker before you are excessively profound into it. At whatever point you are in question about any dealer, the best practice is to let the asset recuperation experts help you. They are capable experts with the ability and instruments to detect a con artist and get your assets back. Also, scammers, as you read in this ASR review, are famous for not withdrawing your money.

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