Many fraud forex brokers or other scam brokers are working under fake organization names or other deceitful activities. A fundamental examination can go far in securing you and your accounts. Managing financial firms approved or enrolled by legal authorities gives you more prominent assurance assuming things turn out badly. Check out the list ofscam brokers 2022 to prevent yourself from getting scammed. And, if you got scammed by Lexatrade.com, file a complaint. 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.

• Nevertheless, fraudsters cut off communications upon receiving your money.
• This does seem like a friendly broker, but I am not sure it’s the best choice for a total beginner, simply because the lowest deposit to open an account is $250.
• Theycould go bankrupt from one day to another since there are no banking information about them.
• Lexatrade has provided very less information about its organization.

As there is no regulation, the people running the platform can pocket your money while bearing no responsibility for their criminal actions. Companies providing online investment services without a license cannot provide their clients with any sort of protection. In contrast, regulated firms are required by law to adhere to a slew of regulations that ensure the safety of client’s funds. Yes, trading with Lexatrade is a fraud/scam cheating making fool of small investors/traders by misguided by the staff insisting for more money deposit for stock trading. Today my balance was USD821 and free Balance was more than USD550. On request for withdrawal of USD 400, I was advised to open a del in sell segment of Natural Gas with USD196 than my entire balance gone negative.

LexaTrade Complaints

Also keep in mind that the company is regulated , which is not the fiercest of financial watchdogs, but any type of regulation is better than no regulation at all. That being said, caution should be used anytime money is involved, with all brokers, old or new. If you are already in it, you can get help from LFr es cue • org let’them guide you!

So the broker’s clunky website has us seriously concerned. For us, the elephant in the room when visiting lexatrade.com is how clunky the language is there. It seems like the website wasn’t designed in English, but rather translated from another language. We know some brokers like to take that approach, and it usually works moderately well. However, the translation itself is shoddy, so the website ends up looking unprofessional.

I have uploaded some moeny and post that they have locked my amount and i am nither withdraw nor able to trade. They are asking more money to upload to enable my account and not returning the amount that i have already uploaded. Of course, we cannot vouch for the accuracy of the signals but it’s a nice addition. 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. LexaTrade is a newly launched, regulated broker that offers CFD trading on currencies, cryptocurrencies, indices, and commodities.

Hope the above information is enough to know the basics of LexaTarde, account types, its services, fees and referral program. Lexatrade has potential, but it also has a lot of things bogging it down and making numerous questionable decisions. For starters, the first two accounts are borderline unusable. 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.

But on a hunch, we wouldn’t call the security excellent. 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. The minimum deposit is $250 and the available methods are Visa, CryptoWallet and e-Payouts; the processing time is not specified.

LexaTrade Products and Services

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. That means the accounts suit most strategies, and as such, can attract diverse groups of traders. As you progress through the accounts, the bonus we mentioned earlier in our Lexatrade review grows.

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 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. The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client.

Bonuses and promotions plus unfavorable trading terms

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. Brokers Complaint is one of the best recovery agencies specializing in Lost Cryptocurrency funds recovery. We also help victims of Forex frauds, Binary frauds, Investment scams, Pension frauds and many other types of scams.

Nearly all brokers will give you a raw deal if you fail to read their ToS regarding their deposit bonuses. Furthermore, while there are some solid conditions, they all come with high price points. And if you’re already depositing that much, lexatrade scam there are many brokers that do what Lexatrade does but better. Unfortunately, when a broker looks like it’s a rushed project, it’s often a scam. That isn’t an exact rule, but it’s something we’ve found to be true more often than not.

LexaTrade Broker Withdrawal restrictions

Make sure to stay away from them as they are anonymous and that they can disappear any time without notice. Companies providing online brokerage services without a license cannot provide their clients with any sort of protection. Lexatrade.com seems to be unregulated as it doesn’t hold a license from any regulatory body. A trader, before investing, should research about the broker’s regulation and license. If the broker doesn’t hold any license, then there must be a risk of scam. License is the most significant thought while choosing a merchant.

Bonuses and incomes will only be withdrawn when a trader reaches a certain volume of trades. These benefits seem to be general in nature as the broker doesn’t talk of something we’ve never heard from brokers. We’re not sure what LexaTrade broker means by saying “a free trial account with profit”. Clicking on the link to discover more takes us to a sign up page where the broker requires us to create a trading account. The website has not published a live spreads widget on their website.

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. We offer a Free Consultation when you file the complaint with us. Also, scammers, as you read in this ASR review, are famous for not withdrawing your https://cryptolisting.org/ money. They may ask you for more and more money and never return a single penny of your earnings. Even when individuals reach Lexatrade for this, Their customer executive encourages upgrading the account type to get funds back. Lexatrade offers personal account managers to its users and they help in trading.

Now daily some 10 people call me to start trading and if I say I am not interested they wont le t me go. It should be made clear that Lexa Trade does not hold an individual broker license. On the other hand, the company under which they rely on seems to be overseeing several other entities which provide financial services under one license owned by SwissOne Group Ltd. For those that are victim of online investment scam, i will recommend the help of janesilva0727 g mail com a recovery expert who helped me in getting back all my lost funds. Lexatrade offers full-time support with 24/7 operating hours. That, along with the multiple phone lines, makes the broker easy to reach.

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. Also lexatrade review trustpilot , lexatrade wikipedia are also showing bad numbers. LexaTrade is an unregulated broker platform similar to LegitHartford24, which we reviewed earlier. Problem with unregulated brokers is that they are not reliable and abuse the regulations.