Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money Please read our full legal disclaimer. The Web based LexaTrade trading platform has recently been upgraded to let clients deal currency pairs, binary options, CFDs and commodities from the same easy to use online interface. Basic – requires a minimum deposit of at least $250, £250, €250, ¥25,000 or RUB 10,000. This account type has minimum forex dealing spreads of three pips for major currency pairs, four pips for minors, and seven pips for exotics. Traders using this account type can employ either MT4 or the company’s proprietary mobile and web-based trading platforms. While the asset selection is adequate for retail traders, LexaTrade fails to inform new traders about it.
We’ve taken a good look at LexaTrade and compared this company’s offerings to those of other binary options brokers. You get earnings on forex juicy incentives, such as gifts and bonuses once you open an account, trade, or upgrade to keep you in their tentacles.
Therefore, the language barrier is never a concern while dealing with LexaTrade binary options broker. Payment for option trading is secure and is available for lexatrade scammers a variety of online platforms. Registration was easy and with multiple methods for deposit and withdrawal, I had no problem funding my account as I desired.
I had a technical issue that made me loss money and they didn’t help me and also they wouldn’t compensate me for my losses . LexaTrade was my 1st binary platform, and my last – the service is SO great, and they make it SO easy that i’ll never https://lexatrade.club/en/ have to go elsewhere. Sometimes i loose because I’m a new trader, but I also win a lot. There are much better FX options brokers you can choose from. Tell our team and traders worldwide about your experience in our User Reviews tab.
Education consists primarily of short videos, where quantity trumps quality, and a series of eBooks, which can be read by clients only. Live webinars, hosted daily, require an account, and so does the market news section. Requiring registration to access the research and educational contents is a misguided marketing tactic and failed opportunity. LexaTrade is more concerned with data acquisition than granting a genuine service to traders, as evident through its approach. LexaTrade is vague about trading costs and fails to outline them properly.
The UK regulatory body issued each of the four brokers with a first supervisory letter dated 28th May 2020, banning them from selling to any residents of the UK. Each was also required to close all open trading positions for UK residents by 4th June 2020 and liquidate scammed by lexatrade the balances. The involved brands had previously been allowed to operate in the UK through the passporting method. The FCA also pointed out that the firms had failed to pay the money they owed the investors and had withheld important details of the fees involved.
Finally, LexaTrade provides a mobile trading platform and account management app that can be accessed on cell phones and other smart devices running either the Android or iOS operating systems. i’m going through a big hard time because of the their scam, i have losted about £52K through my debit and credit cards. He would phone the whole day, from 9.00 am to 7.00 pm, where he would https://lexatrade.club/en/ give me trades to open, assuring me that I must trust him, he was there to help me to make money. When I questioned his instruction, all he would say was “Don’t you trust me? I deposited $250 which is the minimum amount, and was allocated an account manager, to assist me with my trading. Initially I thought this was very generous of 24 Option, to provide a personal mentor.
The operating model confirms that LexaTrade still executes several questionable binary options tactics even today. The lack of transparency and proper introduction to core elements of the trading environment continues with asset selection.
Ption Account Types
It’s good to see that simplicity ethos has been carried over to the new type of the offering. This will definitely delight existing and new traders who are trying to navigate an ocean of brokers and platforms. In this updated LexaTrade review we bring you all the important aspects of the broker’s offering in 2017. As a winner of several Fair Binary Options awards, LexaTrade is no stranger to an innovative trading experience. This is something we have relieved too in our latest test of their new CFDs/Forex platform. While initially LexaTrade became famous by offering binary options, their latest endeavours, starting in 2017 are taking them into CFDs trading arena. LexaTrade has its customer support staff available on a 24/7 basis to provide, phone, email and Live Chat support in multiple languages.
- The platform is pretty simple, customer service is good and I joined a few webinars where I actually learned something.
- Only high spreads are visible, while the FAQ section does make note of swap rates on overnight leveraged positioned.
- Both platforms are very well developed and feature all sorts of advanced trading tools and features.
- The terms of conditions consist of just three pages with no mention of the cost structure.
- Online trading brokerages are a dime a dozen and it can be very difficult knowing which one to choose or which one is best for you.
- Also, Platinum account traders get an extra return of 4 percent on each trade they execute.
We are committed to the fair handling of reviews and posts regardless of such relations. can anybody assist me to recover my maximum losses due to the wrong doing of LexaTrade. I’m trying to get my money back, by consulting with some recovery agents but not sure what to do as they are asking for big money. I wish i would have searched for them before starting trading with them getting in this difficult time. They have eloquent people who pull the money out of your pockets without you noticing. Please juventus fc remove this broker logo from your website.
This broker fails to introduce its webtrader, on which it built its now-defunct binary options business. Forex trading carries a high level of risk and may not be suitable for all investors. Like all investment opportunities, trading Forex and CFD involves risk of loss. Here at LexaTrade, we provide you with access to an education centre, risk-management tools and a customer support team. With LexaTrade you can fund your trading account via Perfect Money. Forex/CFD trading involves substantial risk and may result in the loss of your invested/greater that your invested capital, respectively. Traders can make initial deposits to fund an account at LexaTrade using a Visa, MasterCard or Discover credit card and with debit cards or a bank wire transfer.
And it can result in substantial losses, as was the case with these investors. LexaTrade really tries to accommodate every type of trader and their needs. One of the ways they do this is through offering four different account types that come with slightly different features and perks. The Tech Financials platform is web-based and accessible directly ICO (cryptocurrencies) from the LexaTrade website. This platform is very user friendly and is geared more towards beginner and inexperienced traders. However, it also supports a number of technical indicators and various charting and analysis tools and features. I was trading with LexaTrade.com for a few weeks and I want to warn you to stay away from this company .
LexaTrade does not generate in-house research but delivers them via a partnership with Trading Central, accessible from the webtrader. It is an acceptable solution to grant traders brief trading ideas from an established source.
The minimum deposits for credit and debit cards and for electronic payments are $250, €250, £250, ¥50,000 and RUB 10,000, depending on the currency you choose to use. Minimum deposit amounts for bank wires are $1,000, £1,000, €1,000 and ¥100,000. Gold accounts have all the Silver account features, as well as giving access to email and SMS alerts.
Ption Broker Review
LexaTrade unfortunately does not accept PayPal electronic transfers, although they do accept those from Skrill , Qiwi, UCash, Neteller, Sofort, PaySafe and WebMoney, among others. Please note that LexaTrade.com does not currently accept U.S. clients. If you are located in the United States, you will want to select another broker. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits. They have fake sales personal pretending to be account managers, they will continue pushing you to make more deposits after your initial deposit. I only made 1 deposit then I doubled my account with profits then they found a way to blow my account and disappeared.
LexaTrade established itself as a leader in the now-defunct binary options segment, and remnants of the ill-advised practices still exist. Currently, it functions as a legitimate broker, but traders should remain cautious. LexaTrade extends its opaque presentation to deposits and withdrawals. In order to obtain fees associated with a financial transaction, traders first need to navigate to the legal section, then follow a link to Richfield Capital Limited.
Ption Commissions And Fees
Richfield Capital Limited does not issue advice, recommendations or opinions forex broker in relation to acquiring, holding or disposing of any financial product.