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After receiving the response of the financial ombudsman I will continue take leal action against the LexaTrade UK LTD , LexaTrade. We are glad to hear you have had a positive experience trading with us and we are grateful for your feedback. And then there’s the CySEC license as some sort of cherry topping as it’s also a very strong licensing material from within the EU. In short, all three of the licenses make sure that the broker abides by the strictest financial rules.
LexaTrade is a multi-regulated online broker offering retail & institutional clients across the globe 80+ trading instruments. Spreads & commissions are competitive with flexible accounts. Platforms & tools are sufficient but educational material is lacking. LexaTrade offers traders a selection of trading instruments including CFDs on FX currency pairs, stock indices, crude oil, precious metals, bonds and more. Paypal charge you as I costumer a huge hidden percentage in currency exchange, you have to look for a long time to find it and PayPal do not state how much it is.
What Is The LexaTrade Minimum Deposit?
To have a clear overview of LexaTrade, let’s start with the trading fees. Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees. I really enjoyed your website, searching for the best broker for my wishes. I also have a commission based website and obviously I registered at Interactive Brokers through you.
Please come back often as broker services are very dynamic and can improve or deteriorate rapidly. New clients of LexaTrade can get a $30 live bonus, unless their country is excluded from this promotion. For all transparency I do not have an alternative payment method registered with them nor should I. Let other traders know if this service is worth checking or should be avoided. I have clearly proven with evidence that LexaTrade UK LTD is a fraudulent company. Therefore legal action should be taken for Closure of this LexaTrade UK LTD , LexaTrade.
However, to get a VIP account, you have to reach a minimum balance of $50,000. LexaTrade withdrawals, deposits or requests are submitted via your online account area. While LexaTrade process withdrawals within 1-2 business days as per regulatory obligations. LexaTrade hasa zero fee policy, where no charges or fees applicable to monetary transactions. All deposits from 5,000$ also including zero fee policy and all fees up to 100$ will be covered.
Withdrawal Fees And Options
Similarly to the web trading platform,LexaTrade provides only a one-step login.A two-step login would be safer. You can’t set alerts and notificationson the LexaTrade web trading platform. This feature is available only on the desktop trading platform. The LexaTrade web trading platform hasgreat customizability.You can easily change the size and the position of the tabs.
- LexaTrade is a multiply regulated broker is various jurisdictions, thus considered a safe broker to trade with.
- OctaFX – OctaFX offers multi-asset trading on a range of platforms and mobile solutions.
- Any bank fees on deposits above $5,000 are covered by the broker.
- For example, in the case of forex and stock index trading the most important fees are spreads, commissions and financing rates.
- Mobile trading is available on Android and Apple devices and makes trading on the move straightforward while retaining almost all of the desktop features.
- Like most brokers the broker using as mainstay trusted and well-triedMT4.
A recent update from the European regulator set a limitation towards maximum offered leverage levels, as ESMA recognized a potential risk in case very high leverage is used. MT4 is widely recognised as the world’s favorite Forex trading platform. It offers an easy-to-use user interface, enhanced charting functionality, indicators and supports MQL language. So, you can easily program indicators and Expert Advisors to trade the Forex market 24/5 with no intervention needed from your side. A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank.
There are only a few exceptions, e.g. customers from the US or Canada can’t open an account. Ádám is a motivated finance expert with over two years of experience in banking and investment, and a professional degree in this field. lexatrade scam He’s eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible. The Demo accounts found to abuse the Fair Use policy of the Demo server are archived.
Is LexaTrade Regulated?
LexaTrade incorporates innovative technology to provide premium trading conditions with low spreads starting from 0 pips, competitive commissions and fast execution speeds of 0.15 seconds on average. There are no requotes and a fully automated No Dealing Desk execution model for absolute transparency. Each trading account has a base currency, which means that the broker will hold your deposited money in that currency.
A large percentage of retail investor accounts lose money when trading CFDs with this provider. index options 70% of retail investor accounts lose money when trading CFDs with LexaTrade UK Ltd.
Become A Trader
Complement your portfolio with futures contracts to buy or sell an asset on a specific date at a specific price, through a variety of real exchange-traded products. Connect directly to the world of Futures with no frills via regulated trading exchanges including the world leading CME Group. I’ll keep on looking for the best ECN broker with lowest spread and commission, would be appreciated if you recommended me a nice broker we can trust. Moreover, their ECN account spreads is a no brainer if you were to compared it with other reputable brokers . You can have a look at famous LP provider or brokers and match the ECN spreads under a spreadsheet and see the differences there. Also worth noting is that the LexaTrade official website, which is user friendly, contains a lot of helpful materials about the company, trading terms, licenses, analytics and training information. The solid certification of LexaTrade is also a significant point of confidence for a user.
You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process. As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. The commisions and spreads displayed below are based on the minimum spreads listed onLexaTrade’s website. The colour bars show how competitive LexaTrade’s spreads are in comparison to other popular brokers featured on BrokerNotes.
For issues regarding invalid account requests, check the list of accepted countries below or contact the customer support team. My primary broker sends my funds to my account even sometimes within the same day, but LexaTrade, hell no, I promise that you wont get your money easy. Second problem I encountered with wrong price execution for trades bigger then 1 lot size.
Deposit Currencies
Specify the Amount you would like to withdraw and select Submit, you will then proceed based on that payment method to finalise the transaction. We do NOT charge you any transfer fees for using our deposit and withdrawal methods, but intermediary banks or eWallets may do so, which is beyond our control.
I would have no problems with their close only mode if they offer true WTI CFD price, instrument I was trading with. Their excuse is that they follow movement of December 2020 futures price, which is also invalid since price for December futures is over 30$ for barrel, and also price movement is completely different. They refuse to pay my winnings after weeks of annoying conversations and invalid arguments they try to provide. I lexatrade website am experienced trader who has account with over 10 brokers, and what they say is completely absurd and not acceptable! Difference in their price from true price is almost 300%, no LP can justify that. There is only one true WTI CFD price and it is between 26$ and 27$ for barrel at the moment I am writing this review. And finally, let’s talk about the minimum deposit requirements and financial platforms backing those deposits.
The internet is full of scam brokerages that you absolutely need to stay away from, however, given how skilled they are at tricking potential customers, it may not be as easy to spot hidden flaws under their platform. If you use a Credit/Debit Card to deposit, we will always send the same total amount of withdrawals equal to your total deposits back to your card. Any remaining withdrawal amount which is above the deposited amount, will be processed to the payment method of your choice. Select Destination for these funds to be transferred to – this can be between a trading account and wallet of the same currency, or from one wallet to another wallet of different currency. By using the service, users agree to understand the inherent vulnerability to failure, delay, and/or disruption of online payment systems.
Just email a copy of your bank statement or any other confirmation document for the transferred deposit to our Support Team. Within one calendar month after the deposit was made we will compensate your fee.
Access a wide range of markets including Forex, Stock Indices, Commodities, Bonds and Cryptocurrencies and discover some of the lowest spreads in the market. Explore the full suite of customisable tools and features that the MetaTrader platforms provide to enhance your trading performance. Keep your trading costs down with competitive spreads, commissions and low margins. Get access to major international stock indices and Oil with no commissions or requotes and no hidden mark-ups.
The company is regulated by several financial authorities globally, including the top-tier Financial Conduct Authority in the United Kingdom. Are you excited about trading CFDs on Forex, Bonds, Commodities and Indices, but not quite ready to trade with real money? We’ve got you covered with a demo account that works almost like our live accounts, except with virtual funding. Our trading platforms offer you a world-class trading experience with numerous features and tools that suit your trading style. Traders have access to trade CFDs on 15+ major global stock indices and crude oil with zero commissions, no requotes and no hidden mark-ups. Forex is the worlds largest market by volume and can be traded 24 hours a day, 5 days a week. LexaTrade offer over 60+ FX currency pairs including majors such as the EURUSD, GBPUSD & USDJPY as well as minors and exotics.