Further, there is a lot of “gaming” of reviews whereby some forex brokers post negative fake reviews against their forex broker competition. The best authority to determine whether a broker is a scam broker is the regulatory body that governs and monitors the broker. As previously said, the broker is one of the biggest forex brokers, offering more than 50 currency pairs for trading. The spreads are very minimal, particularly when utilizing the raw spread account. On more than ten currency pairings, there is a genuine 0.0 pip spread. Furthermore, the order book shows that there is plenty of liquidity and competitive pricing for retail traders. CFDs may be used to trade more than ten different commodities.
As you can probably tell, this is the upgraded version of the MT4 platform. LexaTrade also gives their Standard and True ECN traders the choice of the MT5 platform.
Access Global Markets With A Multi
Today LexaTradeis a large successful Forex broker who has worked with traders around the world for 10 years. The company offers high quality services and profitable Forex tradingconditions. The Internet offers enough positive reviews about the company, which boosts the company’s credibility. Certainly, there are negative reviews, but there aren’t many of them.
Therefore, LexaTrade more than satisfies the criterion of being a regulated broker. For beginners, there are analyzes and video tutorials for the platform. Taken together, the support is pretty good because you always get professional help directly. However, you have to make a small smear, because there no support in every language. Usually, this does not happen if you use the balanced risk management and do not burden your account with oversized positions. LexaTrade automatically stops all positions with 50% margin overstepping. Personally, we are not a pro in using cTrader because we much prefer to use MetaTrader for my strategies.
Is LexaTrade A Trustworthy Broker?
To set email or mobile notifications, you have to add your email address and mobile MetaQuotes ID (you can find it in the MT4 app’s settings). You can add them if you go to ‘Tools’ and then ‘Options’. Similarly to the web trading platform,LexaTrade provides only a one-step login.
For standard account, the average spread for EURUSD is 1.1 pips. They are a well established broker, having been founded in 2007.
Deposits And Withdrawals
This will let you segregate your funds and take part in various trades. With technologically strong and varied trading platforms, trading from anywhere is an easy task with LexaTrade. Histograms and other charts based on the economic calendar will be able to forecast the market conditions shortly.
- Advanced traders who are accustomed to using their own research methods may not mind the lack of selection in this area.
- The minimum deposit for a live acocunt with LexaTrade is $200.
- Take part in Global setup and development of Forex and CFD being an active part of the Business Team.
- LexaTrade offers a number of different tools that can either enhance your trading experience or that of your account manager .
- This deposit is required if you want to start trading using LexaTrade.
- If LexaTrade asks for fees for withdrawals, deposit, and leaving an account inactive, check that these fees are in line with the industry.
For example, they bank with top tier banking institutions in Australia. They use National Australia Bank and Westpac Banking Corporation . This means that your segregated funds are in a safe place. Despite this though, there are some regions that they do not provide their services to.
In this case, you will benefit by knowing that the broker is affiliated with LexaTrade. As a partnership program, LexaTrade offers various options for you. Through this program, lexatrade scammers anyone who introduces customers to LexaTrade is remunerated and rewarded. To avail of the benefits of this program, there are no limits to the number of accounts referred to.
Versatile Trading Platform Of LexaTrade
They should also establish that they have good operational standards and audits. They must also adhere to standards by which a safe trading environment is ensured. As with other trading platforms, LexaTrade has certain advantages and disadvantages of trading on their platforms. With LexaTrade, you can trade in Forex, CFD, and cryptocurrency and Futures. You will need a minimum deposit of $200 and can trade a minimum quantity of 0.01 lots.
We also specify the regulatory bodies that IC Market comes under, among other details. It is slow, as the average trading platform wait time for an answer was more than 10 minutes. Also, the responses we received were not always relevant.
Tests Conducted In This LexaTrade Review
It will take you up to 3 banking days to have your earnings withdrawn. You can see the minimum and the average spread in the instrument tables below. The broker offers swap-free accounts for clients with Islamic beliefs. Another protection for the clients of LexaTrade is that the broker is a member of the Australian Financial Ombudsman Service . This institution could judge in case of disputes between LexaTrade and the company clients.
You won’t lose anything but would learn so much from it. Yet, the best part of this is the fact that it really never expires. On Onlinebroker-reviews.com you will find general information about trading CFDs, forex and binary options. LexaTrade is licensed and regulated by the Australian Securities and Investments Commission . The ASIC license allows it to conduct financial services, including forex.
When it comes to making your payments to complete trades, you will be hoping for a service that charges minimal deposit fees and a range of methods to deposit. With the LexaTrade review Australia, we found that their fees are in line with what is expected within the online trading industry. You won’t have to pay any additional funds to make use of the LexaTrade service than you would with other brokers on the scene. The fees do tend to vary according to what markets you are investing in so this will have to be taken into account. The fee structure at LexaTrade varies considerably depending on what markets you are looking at investing in. Their trading pricing page details every possible fee that you will be eligible to pay, so be sure to check this before you complete your trades. As for general account fees, our LexaTrade review found that there is no mention of an inactivity fee with LexaTrade.
However, on average, through consistent trading, you can make about 2% a month. This may seem like a small number, but over the year, this adds to a substantial amount of gains. While LexaTrade provide lexatrade forex broker you all the tools to make money, they cannot guarantee that you will profit. Depending on the currency that you are depositing, a minimum deposit of $200 is necessary for trading with LexaTrade.