Many have praised LexaTrade forex broker for its speed of providing services and giving more than what is expected of it. Below are only some of the LexaTrade broker reviews written by legitimate clients on the website of TrustPilot. Trading accounts offered by LexaTrade are categorized into different types of traders. They were set specifically for catering to beginners, intermediate, professional, advanced, and expert traders. According to LexaTrade official site, the broker provides up to five account types.
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However, its offshore status and regulatory concerns may hinder its reputation compared to more established brokers.I stongly recoonamd everyone to dont waste money with this fraud company.The broker offers different types of accounts to its clients for better trading experience.Don’t trust what’s shown on their homepage — always verify with real sources.
People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. Later they said that the amount was too low for a trade so I left the money there only to find later that the money has disappeared. I have invested the amount and I am unable to login and withdraw my money.
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In addition to traditional trading options, LexaTrade provides access to cryptocurrencies such as Bitcoin, Ethereum, and Litecoin, as well as commodities like gold and oil. This diverse range of instruments aims to attract a wide array of traders. The broker also provides stock trading options, allowing users to trade shares of various companies across different markets. However, specific details regarding the number of stocks available are not prominently featured.
Traders who experience problems with such brokers often find themselves with no legal protections or recourse. This highlights the importance of conducting in-depth research and prioritizing regulatory status above marketing promises or attractive trading conditions. They even have affiliates who individually promote platforms to others and force them to invest maximum money. We are back with our unbiased review of LexaTrade, an online trading broker company. These fake platforms also use fake reviews and celebrity endorsements to look legit.
However, the problem arises when the broker places excessive emphasis on larger deposits without offering proportional benefits or transparency.Scammers create websites or apps that look like real investment platforms.“I am very cautious about this type of advertising on the Internet, but LEXATRADE platform was advertised by Robert Lewandowski and I thought that this is a guy you can trust.Trading accounts offered by LexaTrade are categorized into different types of traders.These fake platforms also use fake reviews and celebrity endorsements to look legit.
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There are a multitude of different trading accounts available at LexaTrade. The broker offers Start, silver, gold, platinum, and VIP options to choose from. The minimum deposits are increasingly higher, and even the smallest minimum deposit is high. LexaTrade promotes features such as deposit insurance, negative balance protection, and robust AML/KYC guidelines. In reality, these protections are linked to the IFMRRC’s private compensation fund, which does not carry the backing of any public agency.
One of the most crucial elements of a broker’s legitimacy is its regulatory status. LexaTrade does not appear to be regulated by any major or recognized authority. In many cases, it is affiliated with jurisdictions that lack enforcement power or have minimal standards for financial companies. Funding methods listed by LexaTrade include credit cards, bank wire transfers, and various online payment processors. While these are standard across the industry, the real concern lies in the withdrawal process. Numerous user reports suggest that withdrawals are either delayed or denied entirely, especially when large amounts are involved.
Regulatory and Legal Background
Lexatrade charges a spread on trades, which is the difference between the buy and sell price of a financial instrument. The spread varies depending on the account type and the financial instrument being traded. Start account type requires a minimum deposit of $250 and the VIP account requires a minimum deposit of $100,000
Scam Trends
After gaining trust, they suggest a “promising” trading or crypto investment, often leading victims to fake platforms like LexaTrade. An objective analysis of LexaTrade reveals significant gaps in regulatory compliance, statutory oversight, and investor protection. On the plus side, as soon as something new comes out on the market, they immediately add it to their platform. Looking at reviews about LexaTrade on various websites shows that the broker is actually trusted and respected by its clients.
Information is given in various tabs, and traders can access it from the website’s top menu. The live chat is directly built into the website, which enables quick customer support service. To avoid future scams, always research platforms thoroughly, verify licenses with financial regulators, and remember – if it sounds too good to be true, it probably is. LexaTrade presents itself as a provider of online financial services but lacks any authorization from recognized financial regulators such as the Financial Conduct Authority (FCA).
Action Plan if Scammed
Along with the list of tradable stocks, LexaTrade also posts stocks’ previous revenue, forecasted price, and timeframe on when to trade it. This regulatory body is one of the most trusted in the world, meaning earning a regulatory status from an organization guarantees the safety and reliability of a broker. LexaTrade serves a global clientele, with a focus on emerging markets in Africa and Asia.
For example, in the UK, dealing with an unlicensed firm means you can’t use services like the Financial Ombudsman or get help from compensation funds. In the US, such companies are not covered by FINRA or SIPC, so you have no insurance for your funds. The first major issue is that LexaTrade is not licensed by any official regulator.
However, there are plenty of market analysis tools available, including economic calendars, news events, and market insights. There is a dedicated section on the website to access all these features. LexaTrade is the website name and trading name of Swissone Group Ltd, which is registered in several offshore jurisdictions. The broker is not regulated by the local authorities in offshore countries it is registered. It is only registered in Saint Vincent and the Grenadines and the Marshall Islands.
However, the translation itself is shoddy, so the website ends up looking unprofessional. Yes, the broker offers trading services across the globe with a focus on countries like India, South Africa and most of Asian countries. This includes video courses and E-books, similarly the questionnaire section offers the questions related to customer’s feedback on the platform. lexatrade owner Yes, LexaTrade is a scam broker as it is not regulated by any top tier regulatory watchdog. However, it holds a licence from the International Financial Market Relations Regulation Center.
Fraud sites often copy the look of real trading platforms—charts, balances, support chat—yet all numbers are controlled by the scammer. The broker also provides different trading assets for higher liquidity with high leverage and low spreads. XCritical mobile app offers an easy-to-use interface, traders can access their trading account on the go, without any hassle.