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With negative balance protection, LexaTrade is able to ensure that a traders account will never go into negative equity. Then you also have a premium account that requires a deposit of $2,000 and a VIP account which requires $10,000. Given the unique nature of these instruments, LexaTrade has developed their own unique trading platform to manage them. Apart from these client side protection tools, LexaTrade regularly conducts thorough audits on their own risk management procedures. When it comes to those segregated client funds, you want to be sure that they are kept in the hands of some pretty strong banks. LexaTrade makes use of top tier banks that have high credit scores and easy access to their accounts. We find it encouraging that some e-wallets are allowed for transactions.
- The MT4 platform a basic, lower quality version only and LexaTrade’s WebTrader allows for limited to no authentic trading activity.
- Note the broker does not charge transaction fees, but your financial institution might charge you a fee for the deposits and withdrawals that you may do so check this directly with your bank.
- Indeed, we all know about the analogy of “teaching people how to fish”.
- With a massive range of tradable currencies, low account minimums and an impressive trading platform, FOREX.com is an excellent choice for brokers searching for a home base for their currency trading.
- Further, it’s trading conditions are impressive but we didn’t find mention of what spreads are used.
- A pip represents the smallest increment that an exchange rate can move.
The deposit processing time is instant, and there is no transaction fee attached when you use credit/debit cards to fund your lexatrade forex broker account. LexaTrade accepts bank transfers, online transfers, credit/debit cards, and electronic transactions for deposits.
What Are LexaTrade’s Spreads & Fees?
Finally, easyTrade is deemed to enhance risk management, but is available on just 20 assets and mirrors binary options trading. Further, traders can have trading insights such as daily fundamental and technical analysis and trading central indicators. Demo accounts come pre-loaded with £10,000 in virtual funds, which can be traded in much the same manner as real funds. There are no restrictions on the demo account, and the idea is to provide users with as accurate an experience of how the real thing works. Over 300 markets to trade, with tight spreads and multi-device support.
75% of retail investor accounts lose money when trading CFDs with this provider. This content is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. A large percentage of retail investor accounts lose money when trading CFDs with this provider. In this LexaTrade review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs.
Metatrader 4 Platform Review
On Forex Peace Army we found some negative client reviews about the broker. However, each of these was responded to by a representative of the broker which means they are interested in resolving issues. This information is important so that clients can invest any little amount they can spare. If then they are satisfied with what they see, they can determine when to withdraw their money. It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit. And that is also presented by the availability on trading vanilla options, which allow you to hedge against volatility and perform long term trading.
Something else that may surprise you is the fact that they still have phone calls. They are happy to call back their traders should there be any questions about their accounts. They are also one of the few brokers that we know that still do phone execution. We wanted to get a sense of the response time so we reached out to them on live chat.
High Leverage Forex Brokers
They are comprised of a highly efficient team who ensure that traders get the best services available at all times. Additionally, in LexaTrade introduced the brand new dealCancellation tool. This application enables the trader to reverse their trades up to 60 minutes after the preliminary trade. Traders will observe the dealCancellation button after launching a fresh trade.
Indeed, we all know about the analogy of “teaching people how to fish”. Do note though that if you are funding in a credit card and you have then made a profit and would like to withdraw, your profit will be paid via another means such as wire or eWallet. This tool could also be helpful around economic events that tend to drive up the volatility in the markets. This could include the likes of a central bank announcement or the Non-Farm Payrolls. If you turn dealCancellation on, you have a certain period of time in order to cancel the trade should it go against you.
LexaTrade Demo Account
This allows the client to pause a rate found in the market despite its constant movement. Pausing it means that the favorable price that the client had found can still be transacted upon even if the market had already moved.
Today, almost no one believes in fairy tales that with the help of the Internet, without special knowledge, you can earn fabulous sums. But all of us, even at the age of 60, remain a little children and continue to believe in miracles. This faith helps us to commit non-standard actions, some of which bring results in the form of monetary reward.
Once you enter into a trade, you can then either close it ahead of time or it will automatically expire at the end of its time frame. Once it expires, the resulting payout, if any, will then be credited to your account. With the Freeze Rate button, you have the ability to freeze live rates momentarily to open or close trades. Even if the market changes during that time, LexaTrade will execute an order for you at that frozen buy or sell quote you select. In order to activate this feature, you need to click on the Freeze Rate button before you click on either sell, buy or close.
How Much Is The Maximum Leverage On LexaTrade?
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74%-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Live chat is not offered by all the forex broker and is ideal for short questions relating to traders. LexaTrade review, the brokerwas first founded in 2001, and has been the world best forex broker so far. Over the years they expanded their CFD offerings to include global indices, energy, metals and more. The CySEC regulated company Easy Forex Trading Ltd exclusively handles clients from European countries. That means that no clients who are resident in countries outside Europe have the protection of CySEC regulation if they trade with LexaTrade or easy-forex.
Traders are also provided the option of downloading the MT4 terminal for their trading needs, which was only recently included in the LexaTrade platform lineup. Both platforms are available as a dedicated LexaTrade mobile app for iOS and Android enabled devices, which covers a majority of the smartphone and tablet market. LexaTrade lexatrade forex broker does have a reliable and high-speed trading experience, which is backed by guaranteed order execution policies on both trading platforms. More-so, you can see 4 different account types and features offered by LexaTrade broker on the table above. However, if you funding a higher initial deposit, you can trade with tighter spreads.
We also have to mention that the support team functions absolutely perfectly and that you can always count on expert help whenever you have any questions. In short, on this website you are perfectly safe and do not have to worry about anything. A well-regulated CFD provider, LexaTrade ensures that all Anti-Money Laundering rules and regulations are followed. As such, all non-profit Electronic trading platform funds are returned to the original deposit source. No matter your deposit method, the withdrawal of all profits must be made by bank transfer to a bank account in your name. If the account remains dormant, a fee of 25 AUD will be charged every six months. The minimum trading size is listed as 0.01 lots in the MT4 trading platform, and 0.05 lots in the LexaTrade webtrader.