LexaTrade: Getting Into the Meat of an Honest Broker

The setup itself is tried and true and is one of the most common ways for brokers to structure their accounts. It allows them the greatest reach, as the primary concern with the accounts is budget rather than trading style. As a relatively new broker, LexaTrade aims to build a reputation based on competitive pricing, high-quality customer service, and an intuitive user interface.

Overview of LexaTrade Accounts and Fee Structures

• Platinum account of LexaTrade broker takes the advantages and perks of previous accounts to a higher level.
• Scammers employ persuasive tactics to convince you to make an initial minimum deposit.
• That means the accounts suit most strategies, and as such, can attract diverse groups of traders.
• If there’s a WhatsApp or Telegram group involved (though not all scams include this), it’s filled with people pretending to be winners—they are all part of the scam.
• Furthermore, while there are some solid conditions, they all come with high price points.
• LexaTrade offers a competitive range of trading instruments and features, making it a suitable choice for both beginner and experienced traders.

XCritical is lesser known to traders than MT4, but this does not make it inferior in providing quality services. Also, a mobile platform is far more accessible and convenient than any other platform, which means traders can trade anytime and anywhere without the hassle. Aside from trading, clients can open positions, manage their account, and execute trades without delay. They can also set stop loss and take profit, track the movement of quotes, check forecasts for different instruments, and view their account balance.

Spreads and Commissions:

LexaTrade fails to provide any information about its staff on its website and promise fake returns. These deceptive practices raise significant doubts about the credibility and trustworthiness of this platform. Then, they manipulate your account to make it look like you’ve won. The website and all “winnings” are controlled by the scammers. Dfpi.ca.gov/crypto-scams/ – The scams listed in this tracker are based on consumer complaints from California.

Gold Account

MT4 is the platform of choice for professional traders, while the proprietary platform caters more to beginners. However, the proprietary platform’s lack of sophistication may not satisfy advanced users. And without the broker specifying the times, who knows how long it might take for you to get your money.

It looks like the broker took stock images, put them in boxes, and called it a day. Of course, broker appearance is nearly entirely irrelevant, but our point is that Lexatrade looks like something hastily put together.

How The Scam Works:

The broker offers its traders two platforms, as we’ve indicated earlier in our Lexatrade review. And even then, you only get the web version, and you need the $50,000 account for the full unlock. One fact that’s relieving and concerning at the same time is the broker’s choice of the regulator.

• It doesn’t do anything to stand out, and the vast majority of traders can easily find an option that’s both more comfortable and more powerful.
• We wouldn’t be surprised if entry-level traders couldn’t find their way around and simply decided to use another brokerage.
• XCritical platform is favored by 8 out of 10 traders in the Forex trading industry.
• LexaTrade markets itself as a user-friendly platform designed for both beginners and experienced traders.
• LexaTrade is a relatively new broker in the online trading space, offering a range of financial instruments, including Forex, CFDs, stocks, commodities, and indices.
• IFMRRC stands for International Financial Market Relations Regulation Center.

Here you can train as a beginner and sharpen your strategies if you are an experienced Forex trader. We aren’t the biggest fan of the huge jumps between the sums you need for different account types. However, that’s a minor complaint, as what you get for each account is actually pretty fair for the price point. One more significant concern is that the broker locks the MT4 platform behind the more expensive account types.

Proprietary Platform:

Trading is a very high-risk job, which rests entirely on the trader. If you are a beginner or your strategy is not precise, there is a high probability of loss, and it is lexatrade not the broker’s fault. MetaQuotes’ flagship offer, MetaTrader 4 (MT4 platform), is simply one of the most efficient trading software available in the market.

Good customer service

Reading this LexaTrade review permits interested traders and companies with the brokerage to gain a perspective of LexaTrade. It is possible that LexaTrade had been misunderstood and misrepresented in new media. Forex Broker attracted me precisely with this – in all reviews about LexaTrade, it is distinguished by the reliability and honesty of the company. Of course, there are questions, but everything is successfully resolved after correspondence with tech support. Everyone should understand how to distinguish a good broker from those that are often considered scammers and why forex is a scam.