Is LexaTrade legit features all the key aspects you need to look at to see if a broker is safe and legit. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises. We had a great experience when we tested LexaTrade’s phone support. They answered the phone instantly and we got relevant answers. Research tools are available in many languages, such as English, Arabic or Chinese. However, when we set the platform’s language to English, we still got the news commentary in our own language.
Many financial service companies may charge inactivity fees. Please check on the brokers website and make sure you are aware of and are happy with all the services and fees you may be charged. The “Special Features” category is our way of looking for unique features that may not be available forex or expected with each broker. Our score for LexaTrade’s Special Features is low for a few reasons. They don’t offer social (or “copy”) trading, money manager accounts or a free VPS service. However, there were a few unique offerings that may be worth a second look by some investors.
He prides himself in providing accurate and in-depth reviews in order to help others find a trading platform that fits their needs. When Robert isn’t actively trading or managing Impact Investing Collaborative, he enjoys spending time with his 3 kids, playing golf, and spending time outdoors.
LexaTrade Faq Section
LexaTrade stores the customers’ funds insegregated client bank accountsin accordance with FCA. Moreover, customers’ funds are protected by theFinancial Services Compensation Scheme for up to50,000GBPper person in the unlikely event of the company’s insolvency. LexaTrade minimum deposit must be at least £400 or $400 or €400 but there are no limitations thereafter. This LexaTrade review gives you all the key facts you need to decide if it’s the right platform for your money. All contents on this site is for informational purposes only and does not constitute financial advice. Consult relevant financial professionals in your country of residence to get personalised advice before you make any trading or investing decisions. Daytrading.com may receive compensation from the brands or services mentioned on this website.
EdX offers over 3,000+ online courses and 300+ programs that are created by its top partners, 160 institutions in total like Harvard and Berkeley University. A person whose personal data concerns has a possibility to obtain a copy of his/her data. Phillip is a professional trader, having managed a personal investment and trading fund since 2004. He’s worked with a number of major brokerages and prop trading houses in London and Dublin. Phillip has proprietary trading experience in energy commodities futures trading, including procurement of commodities for physical delivery on behalf of a corporate client base.
LexaTrade Review 2021
These sessions can also help develop trading psychology or risk management. VIPs can contact their Account Manager for a current list of available trainings.
For example, if a trader buys stocks or ETFs of Microsoft, he needs to pay a commission, spread, or financing rate. The commission is charged either at a fixed rate or is based on the traded volume. Spread is simply the price difference between the buy and sell price of the product. The financing rate or overnight rate lexatrade website is charged when a trader holds a leveraged position overnight. That said, please note that you can lose funds when trading in financial assets. Accounts can lose money due to either not putting enough effort into researching the markets, lack of experience or not using the tools provided by the brokerage platform.
You can sign up for a demo account to acquaint yourself with LexaTrade platform. LexaTrade stands for X Trader Brokers, is an online retail forex broker. LexaTrade offers to trade following assets on MetaTrader 4 and xStation 5. However, we’ve checked our systems for bugs or malfunctions during the time of your complaint, but have been unable to locate any recent problems. We do this to cause minimum disruption to our clients and as the markets are closed during these few hours of maintenance on a weekend, we’re confident it shouldn’t affect your trading profitability. We’re sorry to hear about your negative experience with us.
As all big brokers, this one is also present in many places with its offices. From their native UK all the way to Turkey, you can find them in more than a dozen different countries. As a consequence of this, the company is regulated by multiple regulatory bodies, a fact that should immediately tell you is LexaTrade a scam or not. The bodies in question are the Financial Conduct Authority from the UK, Poland’s KNF, Germany’s BaFin and CMB in Turkey. Acquiring four different licenses is quite a feat and a very strong indicator that LexaTrade is legit.
You can then earn money for successful referrals, doing so on a monthly basis. If you prefer, you can also browse the courses in the Education section by subject instead of level. This way, you get to choose from an MT4 Tutorial, an xStation Tutorial, an Introduction to CFDs, Fundamental Analysis, or an Introduction to Forex. On the LexaTrade website, you will find an entire section dedicated to Market News.
LexaTrade Review And Tutorial 2021
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.
Learn more about how we review products and read our advertiser disclosure for how we make money. LexaTrade has a reasonable sized customer support of at least 10. Although LexaTrade are not perfect we found many really useful aspects with the overall offering from LexaTrade. Our personal experience of trading with LexaTrade was very good. CFDs are leveraged products and can result in the loss of your capital. It’s grown by $ % in value this represents a hundred percent increase on the funds initially committed on your leverage CFD trade.
Great Experience With LexaTrade And The
Market – The simplest order where a trader signals that their trade request should be executed at the prevailing market rate. LexaTrade’s xStation 5 is not equipped with back-testing or automated trading capabilities, leaving MT4 as the only alternative for algorithmic traders. We publish unbiased product reviews; our opinions are our own and are not influenced by payment we receive from our advertising partners.
Once your order has been processed, your funds will be credited to your account depending on the processing time of your bank or card provider. Since LexaTrade is a regulated CFD platform, you mustverify your phone number and submit all the required documentsto confirm your account, before starting to trade. To verify your identity, you must upload a copy of a valid government-issued ID such as passport, driving license or a national identity card.
- LexaTrade has gained an excellent reputation for it’s high quality platform, fast order executions & transparency.
- Customer service is slightly above average and the education catalog is adequate.
- Each broker we review is judged on the same 10 key areas.
- Before trading online with a broker such as LexaTrade you should be sure they’re legitimate online agent.
- Those who are new to trading should take advantage of the lower fees charged by online brokers like LexaTrade and deal with them over traditional brokers.
- Outside experts are also used for a few advanced topics and strategy updates, mainly in the free “premium” supplemental education section.
In some cases, your bank may charge a transfer fee, although LexaTrade will not charge you any additional fees. Bank transfers that you make to LexaTrade must come from banks that are registered lexatrade rezension in your full name, with the name matching that of the LexaTrade account. If this is not the case, you risk wasting time as the funds will return to the original bank account.