IFMRRC stands for International Financial Market Relations Regulation Center. It’s a non-commercial organization that regulates about 60 brokerages. Lexatrade has developed an online training program lexatrade news for traders that takes students from their first deal to consistent results in the market.

That being said, they are very new at the time of this review, so there is time for improvement. The overall structure of the accounts at LexaTrade is too expensive in my opinion and putting a $10,000 barrier between the trader and MT4 means that the majority of clients will not use this platform. On the other hand, the Web platform offered for the minimum account is quite enough for the average trader, so maybe that’s not a deal breaker. On the LexaTrade site platform, merchants offered to trade various instruments and property. The broker provides clients with about 50 currency pairs, gold, silver, and other precious metals, as well as pointers and cryptocurrencies. Holding its business operations in Saint Vincent and the Grenadines, many traders doubt the legitimacy of the broker, let alone Lexatrade’s regulatory credential.

Yet, questions remain whether this regulatory affiliation is strong enough to set aside fears of losing trading funds of clients in the event of insolvency. Fortunately, IFMRRC features a Compensation Fund scheme to be observed by all its 49 regulated brokers including LexaTrade. LexaTrade advertises several account types, from basic to VIP, each with distinct perks. LexaTrade claims to be an online brokerage offering access to various financial instruments such as forex, indices, and commodities. While the platform appears well-structured on the surface, a closer examination reveals troubling details.

The website is translated in 6 languages, the platform is relatively easy to use and offers all the features needed by an average trader. A mobile platform is available but Demo accounts are not; US traders are not accepted. Unfortunately LexaTrade doesn’t offer a lot of information about withdrawals but according to the website, a representative will contact you to complete the processing, which takes up to 24 working hours.

1. The only extra worth mentioning is the Autochartist which is available right on the trading platform and is free of charge.
2. That being said, caution should be used anytime money is involved, with all brokers, old or new.
3. Trading conditions, if not the best, then some of the best, there have never been any hitches with the execution, so that the connection disappears, too, is not seen.
4. You can watch the experts trade, get answers to your questions and comments on trading strategies.
5. Considering the consistent patterns of suspicious activity and user complaints, it is best to explore alternative brokers that offer verifiable regulatory compliance, clear fee structures, and reliable customer support.

The company was the first of MT4 trading companies, which allowed it to expand its position and take a leading position in the list of brokers in the market. However, we can’t neglect the fact that $100,000 is a hefty sum and isn’t something anyone can reach. So there’s the argument that some regulation is better than none, and that does hold up. But there’s also the fact that while it’s better than nothing, it’s not a significant improvement. So the regulation may impose negligible limits on the broker while generating a false sense of confidence for potential customers.

LexaTrade Bonus

The support team is problem-solving and responds quickly, so the overall communication with the team was great. A web-based proprietary platform is offered by LexaTrade, such as MetaTrader4 and LexaTradeapp – xCritical Mobile App. While the platform offers a considerable service, we still advise to choose among legit brokers is lexatrade legal in india like InvestFw. Moving forward with this LexaTrade review, we will further discuss the platform’s fees, platforms and account types.

LexaTrade company profile

LexaTrade is ambiguous about how deposits and withdrawals work, and we can only get come basic information in the refund policy page. The minimum withdrawal amount is 50 USD, and if a client withdraws the money without realizing 5 independent transactions, LexaTrade will charge a 5% fee. LexaTrade also provides a demo account that allows you to try out the financial markets without the risk of losing money. Investing in commodities can be a great way to diversify your portfolio and achieve long-term gains. It’s important to carefully consider options before making any investments, and LexaTrade is a trusted broker that can help you navigate this process.

1. Failure to deposit on the given time to replenish the account, the Client’s account will be blocked.
2. The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client.
3. This is a simple fact in the trading industry, where competition can sometimes be cutthroat.
4. In this light, it can be said that LexaTrade is a legitimate business entity and is a regulated broker.
5. With this agreement you confirm that you are familiar with and understand that the figures may differ from those presented in the primary market.

Just like with any other asset, the price action of Bitcoin 3x Daily Short is…

XPro Markets

The platform is somehow new in comparison to some reliable names dominating the forex industry. However, it garnered popularity among traders with its one-of-a-kind features and the services. Traders who have reached this state have more points, trade without restrictions on the number of transactions, have access to funds, and have the opportunity to defer payment. Information about withdrawals is missing and this should be addressed by LexaTrade. All we could find is that withdrawal processing takes up to 24 business hours and that a representative will contact the client in order to complete the processing of the withdrawal. The company charges a service charge of 5% if users make less than 5 independent transactions.

The client fully agrees that he uses the service at his own discretion with careful consideration of risks. The client receives bonuses only after all requested documents are provided by the Company. The client is solely responsible for the accuracy of the provided details and undertakes to report any changes in the data in time. Several red flags have emerged from user experiences that cast doubt on LexaTrade’s legitimacy, making it essential to understand these warning signs before investing any money. The general online opinion is favourable and this is always a good thing because as soon as something goes terribly wrong with a broker, people flock to online forums, chat rooms, and social media to bash the said broker. EMIS company profiles are part of a larger information service which combines company, industry and country data and analysis for over 145 emerging markets.

The Trustpilot Experience

This is because there are many traders online claiming to have been scammed by LexaTrade. But browsing the broker’s official site, LexaTrade asserted the legality of its business operation and its regulatory compliance with the International Financial Market Relations Regulation Center (IFMRRC). LexaTrade BackgroundLexaTrade started its operation by just managing cash transactions in real-time trading using PAMM accounts. From there, it grew to become a firm capable of bringing in advanced trading solutions coupled with a wealth of financial instruments, grooming itself to become the emerging online brokerage brand it is known today. Along with the broker’s regulatory background, this broker review will also rundown key advantages and features of LexaTrade. Additionally, it will provide LexaTrade reviews from LexaTrade clients to help you picture out the broker’s overall service.

They vary in features but are all promoting convenient and secure trading. With the surge of online trading platforms, the potential for scams has also grown, and LexaTrade has emerged as a broker raising serious concerns. Reviews and reports from users suggest issues that point to LexaTrade being a potential scam, primarily due to limited regulatory transparency, suspicious practices, and challenges in withdrawing funds. In this review, we’ll examine why users should exercise extreme caution if considering LexaTrade. Warning issued by any of these authorities clearly indicated that the broker is not a good fit to invest your hard-earned money with. Thus broker seems to be lacking such regulation or how genuine is lexatrade there is no proof of it.

The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained in the Website. I have been trading on the market for 5 years, of which almost 2 years on LexaTrade. Lexatrade has launched a universal course for investors with any experience. To set the record straight, investing in LexaTrade is nowhere near ‘LexaTrade scam’ nor ‘LexaTrade cheating’ claimed by naysayers since the broker is covered by a Compensation Fund provision under the IFMRRC.

Some are legitimate issues and concerns, while others were scammed by LexaTrade — false claims crafted by competing companies. There will always appear negative reviews about every broker, even the most trusted ones. In conclusion, while the promise of easy trading may be tempting, LexaTrade is fraught with risks that make it unsuitable for investors who prioritize security and legitimacy. Considering the consistent patterns of suspicious activity and user complaints, it is best to explore alternative brokers that offer verifiable regulatory compliance, clear fee structures, and reliable customer support. Given the abundance of warning signs, potential investors are advised to avoid LexaTrade. Numerous reports indicate that this platform may be a scam, with serious issues related to funds accessibility, aggressive tactics, and regulatory opacity.