Is LexaTrade A Scam?

They are also grouped in different categories such as ‘risk takers’, ‘top traders’. For each trader, some additional information such as a historic profit graph is provided. The Chat Screen allows you to communicate via webchat privately with other traders currently online. The Social Feed is where you can view the broadcast or trade signal messages from other LexaTrade traders, or add your own message . When you look at a graph of any instrument, a sentiment indicator will tell you to have many of the other traders on LexaTrade are currently in buy or sell positions in this instrument.

LexaTrade

When choosing a broker like LexaTrade the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Investing online can be just as risky as any other kind of offline investment.

You used to be able to sort them by % gain, most copied and most followed. However, as mentioned in our previous reviews, the results you got when sorting the traders weren’t very useful. Swing trading works as a very open network and you can follow any trader whose profile is set to visible, and when your profile is visible anyone can follow you. Unlike with any other major social or copy trading site, traders are not compensated in any way when their trades get copied by someone else.

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When you send in a withdrawal request to LexaTrade, this will be honored. If they violate any regulatory rules their regulated status can be stripped. LexaTrade is considered good and reputable to trade with LexaTrade. LexaTrade is used by over 10,000 active traders and LexaTrade users. LexaTrade offers Forex trading, CFDs trading, and Social trading. To start the process of opening an account with LexaTrade you can visit the LexaTrade trading platform here.

Unfortunately where such freedom is given abuse is likely to follow. While some conversations seem to be useful and show community members helping each other, some others are very irrelevant or promotional. MetaTrader 4 is the most popular trading platform in the world as most and more traders begin to trade online Metatrader 4 is available as a web based application available through your web browser. You can enjoy our Raw Pricing trading environment without a Dealing Desk from anywhere in the world. Inactivity fees are not specific to online trading accounts. Many financial service companies may charge inactivity fees.

The thing is, such legit-looking forex brokers claim to be real experts at making money. They will thus have you continually depositing money – ostensibly to build your fund. But since markets go up and down, this becomes an unending cycle. Ultimately, you end up losing your funds as you pump in additional cash in a bid to avoid your account’s closure.

  • We value our trusted Tradio listeners and will continue to provide Tradio to you as we have done for the past 35 years.
  • In summary, LexaTrade is one of the better ‘trading platforms’ in terms of social interaction features offered.
  • It’s a new skill-set for many, but it is what the market requires of you.
  • CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
  • At one point, LexaTrade was pushing it’s Trade Z platform, though upon an update of this LexaTrade review, information about that proprietary platform became scarce.
  • You can sign up for a demo account to acquaint yourself with LexaTrade platform.

You can easily view the sentiment and trading activity of other traders and communicate directly with them. The features to evaluate the historical performance of other traders you like to follow are however fairly basic. However, the lack of an auto copy-trading system leaves lexatrade forex broker behind other strong competitors.

Signing Up With LexaTrade: Simple Process!

There is also a link on the LexaTrade website that provides information on managing accounts, making trades, LexaTrade basics, and other helpful information. Social networking sites are a great way to follow and connect with family, friends, entertainers, and to stay updated on news events. There are also social networking sites for traders who want to connect with other traders so they can gain some insight into the latest trading strategies. LexaTrade is one such social networking trading site that brings traders together from around the world and is revolutionizing financial trading. LexaTrade’s platform is also known as “LexaTrade’s Social Trading Platform”. It is therefore evident that this broker offers a proprietary platform for investing in financial markets, in addition to the well-known MetaTrader 4 platform.

LexaTrade

All profits made by our clients are always sent directly to the bank account. LexaTrade offers e-mail, live chat and telephone support with local numbers for the UK, France, and Italy. They also have a dedicated support section on their website with a knowledge base of previous questions & answers. In addition, quite a few clients seem to use the social interaction features to ask support questions directly to other clients. Once you register, even for a demo account, you’ll normally already get assigned an account manager who will contact you both by email and telephone to see if you need any further information . The social interaction features and freedom offered by LexaTrade’s platform are the most profound of any social trading network we’ve reviewed or come across so far. We’re not aware of any other platform which gives you easy access to chat privately with other members or send broadcast messages as freely to the rest of the community as LexaTrade allows.

LexaTrade Frequently Asked Questions

Stocks, currency and other commodities and instruments will be purchased by LexaTrade even if no buyer is lined up. Withdrawing money from LexaTrade processing time varies but averages 2-5 days.

Having any money you deposit with forex indices means that your funds are safe in a bank that has enough capital to accommodate your withdrawal wishes even if LexaTrade goes out of business for some reason. If LexaTrade violate any regulatory rules their regulated status could be stripped.

LexaTrade

These checks are standard practice and help lexatrade scammers provide a safe financial environment for their 10,000 users. Brokers offer state of the art online trading platforms, mobile trading apps, financial research tools and educational resources. For a brokerage to maintain these services and earn revenue as a company. Brokers may charge clients various trading fees that you need to be aware of as they may affect your bottom line. Fees on deposits from LexaTrade.com are waived, but third-party fees are still applicable.

User Reviews

All funds deposited to LexaTrade are held in segregated tier 1 bank accounts for security. LexaTrade is regulated by Cyprus Securities and Exchange Commission so can be considered legit. Take the time to learn how your trading platform works. Make buy and sell trades, learn how to take advantage of global trading times and most importantly learn how to mitigate and manage investing risk. Brokers that require a larger minimum deposit amount usually offer a greater range of trading features on their platforms. These brokers often have more in depth technical analysis and research tools and better risk management features. That being said, despite these limitations, LexaTrade’s traders will enjoy stronger protection than those trading with brokers that have more relaxed regulation.

Here at LexaTrade, our goal is to help you get started with online trading. That’s why we provide ongoing education and support for all our valued clients. Sometimes that support and education is provided over the phone. news, market commentary or other information solely to enable the Client to make his own investment decisions. In this part of the review, we normally look at the options available on the platform which allow you to manage your risk when auto-copying other traders. This obviously isn’t relevant anymore, but when you manually copy a trade from a trader you follow. Some of the Top and Most Followed Traders at LexaTrade .Since a new version of their platform was released in Q you can however no longer sort the traders.

LexaTrade offers access to 20 exclusive tools which includes feature rich trade execution & management programs, sophisticated notification alarms, messaging facilities, innovative market data & more. Andorid mobile devices and tablets are used by millions of people globally. Understand that the MetaTrader 4 trading platform was developed primarily to trade Forex but you can also trade other types of financial instruments through CFDs and Spread Betting. You will not be able to trade Stocks, Indices, Commodities, ETFs, Futures on any MetaTrader 4 platform unless they are CFD contracts or Spread bets. You will not own any underlying assets with CFDs or Spread bets as you are speculating on price movements with LexaTrade.

We compare side by side some of our top rated LexaTrade versus comparisons. We have covered allot in this LexaTrade review, If you want to see how LexaTrade compares side by side with other brokers check out our LexaTrade Vs pages. LexaTrade have a B grade support rating because sometimes the reposonse was slow or our query wasnt answered.

The trading platform review found here includes our findings, including the positive and negative aspects of using this brokerage. Although LexaTrade’s fees are, generally speaking, very advantageous, this broker also has a handicap, they charge their clients a fixed amount for withdrawing funds. Moreover, all our legal documentation is available to our clients at any given time, even before any deposit has been made to our platform. It is important that you familiarise yourself with the risks involved in CFD trading before you start trading. So far the turnover of the top traders have been fairly high too in our experience.

LexaTrade Review 2021: Beware Of This Regulated Scam

This obviously is a very unique approach and got us thinking about the pros and cons of this. Traders are guarenteed to close your trade at your specified price. Stop Loss orders are guaranteed only during market hours and under normal trading conditions. All money funded to LexaTrade is placed into a segregated tier 1 bank account. this means your money in not held by LexaTrade directly but a tier 1 bank.

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