LexaTrade Review 2023: Is It A Scam? Unbiased Review

account manager

Nearly all brokers will give you a raw deal if you fail to read their ToS regarding their deposit bonuses. This does seem like a friendly broker, but I am not sure it’s the best choice for a total beginner, simply because the lowest deposit to open an account is $250. Many regulated brokers allow $50 and even $10 as minimum deposits, so maybe you should pick one of those. On the other hand, if you are confident in your abilities and $250 is not a lot for you, then LexaTrade may be a good choice. Lexatrade has potential, but it also has a lot of things bogging it down and making numerous questionable decisions. For starters, the first two accounts are borderline unusable.

They make false promises and convince you to invest money with a minimum amount of $250 once u visit the site. They will do registration before even u cud understand them. N then…u r trapped… B sure ..ur money is gone within days… I lost my 250 dollars within night. At the start they will tell u that they give 100% Insurance over the capital amount bt it’s big lie… They won’t give u even a penny.

  • IFMRRC stands for International Financial Market Relations Regulation Center.
  • In my opinion, the platform should incorporate more payment methods.
  • The most commonly used trick that scammers follow is offering a high bonus.
  • Yes, the broker offers trading services across the globe with a focus on countries like India, South Africa and most of Asian countries.
  • There are way too many categories on lexatrade.com, and navigating around the website is challenging.

The most commonly used trick that scammers follow is offering a high bonus. They offer appealing returns that may look promising and attractive and make you invest in that plan. But later, you will realize that you got scammed by the broker. Trading can help you to earn extra income, but at the same time, it is also meant to lose your funds if you don’t watch out. Lastly, know that informamarkets60n about dormant lexatrade is not menmarkets60ned.

LexaTrade Review: Pros And Cons

Additionally, the one thing that I disliked about the platform is that its standard account holders don’t have access to Cryptocurrencies. The account offering is appreciable but it still lacks at some points. Of course, the broker has options for downloadable terminals, web platforms, and mobile apps. I used to trade in crypto, then I moved to the foreign exchange market. Lexatrade customer service is bad, the account managers are irresponsible please becareful to use them, they are so frustrating. Since they persuade to open account, after I do know of them attend to my email again.

With such lack of informamarkets60n and being unregulated, funds are not safe. A red flag that we noticed is that they are withholding vital informamarkets60n to users. Please be noted that all information provided by ThatSucks.com are based on our experience and do not mean to offend or accuse any broker with illegal matters. All information should be revised closely by readers and to be judged privately by each person. In a few weeks, we managed to increase the deposit by 15-17%. This is taking into account my caution, I don’t buy everything in a row, I carefully monitor the news.

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Despite this, it is an off-shore lexatrade review restricted to operate in the US and Europe. Yes, LexaTrade is a scam broker as it is not regulated by any top tier regulatory watchdog. Comprehensive evaluation of LexaTrade’s offers and services. The same goes for visuals, as the various elements are glaringly mismatched. It looks like the broker took stock images, put them in boxes, and called it a day.

Of course, https://forexhero.info/ appearance is nearly entirely irrelevant, but our point is that Lexatrade looks like something hastily put together. They encourage you to extract maximum amount from you and then open deals conveniently to bring you down to “ALL RED” and refuse to return a single penny. The broker can be reached through multiple channels, including phone line and email. The LexaTrade referral program activates when you invite your friend to sign up for the platform. For each successful deposit your friend made, you’ll receive up to 50% of the entire amount.

The asset access is limited, your withdrawal requests are low priority, and the spreads are extremely high. We’re nearly certain the broker made the accounts just to seem more open. The broker offers its traders two platforms, as we’ve indicated earlier in our Lexatrade review.

xCrictical Mobile App

It is registered in Saint Vincent and the Grenadines , a kingdom of thousands of shell companies. LexaTrade customer support is very impressive as it offers full-time support with 24/7 operating hours. Please be noted that all informamarkets60n provided by ThatSucks.com are based on our experience and do not mean to offend or accuse any broker with illegal matters. All informamarkets60n should be revised closely by readers and to be judged privately by each person.


We unbiasedly review every broker and rank them based on their market standing, regulation, and other factors. Reviews are updated regularly to ensure that every trader has the most up-to-date information before making a choice. After analyzing the detailed LexaTrade review, we can say the company is totally a scam. The platform offers a long list of trading instruments, is regulated and most importantly, is not a scam. And has global presence with headquarters at Beachmont Business Centre, Suite 39, Kingstown, Saint Vincent and Grenadines. Moving forward with this LexaTrade review, we will further discuss the platform’s fees, platforms and account types.

LexaTrade Review: Fees, Commission & Spreads

The user-friendly UI of the platform caters to the needs of both beginner and professional alike. In-depth look at the platform with our detailed LexaTrade review.

It opened just earlier this year and has attracted a good bit of attention as such. In our Lexatrade review, we’ll look at how beneficial it is for customers compared to other options. But at the same time, for people with a head on their shoulders, Lexatrade is quite a working tool.

For us, the elephant in the room when visiting lexatrade.com is how clunky the language is there. It seems like the website wasn’t designed in English, but rather translated from another language. We know some brokers like to take that approach, and it usually works moderately well. However, the translation itself is shoddy, so the website ends up looking unprofessional. I have been working with Lexatrade since the summer and have withdrawn money 3 times during this time.

Topics around the financial markets are explained well and the videos are both entertaining and educating. Perhaps the best part is that anyone that signs up with them can watch the tutorials and there are no hidden clauses. Leverage and spreads change from time to time, for accurate figures, you have to contact the support team. There is no fee to open an account and the fees for deposits and withdrawals are not specified anywhere on the website. There is no mention of an inactivity fee but we cannot guarantee that you won’t be charged one. Live chat support was available at the time of our visit but a bit slow to answer.

On request for withdrawal of USD 400, I was advised to open a del in sell segment of Natural Gas with USD196 than my entire balance gone negative. Even the personal manager engaged for help do not bother for small traders. The minimum deposit is $250 and the available methods are Visa, CryptoWallet and e-Payouts; the processing time is not specified. Information about withdrawals is missing and this should be addressed by LexaTrade.


The minimum deposit at LexaTrade is $250, a slightly higher in this competitive world, with many offering accounts opening at $0. Video courses and E-books, while the quesmarkets60nnaire secmarkets60n offers all the quesmarkets60ns related to customer’s feedback on the platform. This feature provides 100% insurance on the deposit amount.

LexaTrade Review

Cheapest and most expensive aren’t the most precise terms, as there’s no actual cost attached to the account. However, we can’t neglect the fact that $100,000 is a hefty sum and isn’t something anyone can reach. Lexatrade is new forex and CFDs brokerage that primarily operates in Europe.


On the other hand, the Web platform offered for the minimum account is quite enough for the average trader, so maybe that’s not a deal breaker. The charges are comparatively higher than the platform we have reviewed so far. The spreads vary on the account type and instrument you trade in.

Is LexaTrade a Scam? Read This Brutally Honest Review

The promomarkets60n is applicable for deposit amounts ranging from $500 to $5,000. The insurance covers upto 100% of total loss on all trades opened on the deposit day. MT4 is probably the world’s most renowned trading platform for Forex.

Lack of informamarkets60n is a big red flag since you don’t know who will be dealing with YOUR MONEY. This is the reason why they are dangerous to deal with. We would like to see some real feedback from traders to even think of trusting Lexa Trade broker. There are no reviews or feedback at all regarding the services offered by this broker.

The broker’s offer does actually seem decent enough, but the presentation isn’t up to par. We’ll see if the broker’s functional prowess ends up improving what we think. But Lexatrade is severing the whole world through its website. It is registered in Saint Vincent and the Grenadines which makes no sense.

  • Unfortunately, when a broker looks like it’s a rushed project, it’s often a scam.
  • As you progress through the accounts, the bonus we menmarkets60ned earlier in our Lexatrade review grows.
  • I have just started, so far I am good with the trading tools.
  • Assuming you deposited $100 and lost 60% of the funds and attempted to withdraw $40, Lexa Trade broker would never process such withdrawal request.

Brokers Complaint is one of the best recovery agencies specializing in Lost Cryptocurrency funds recovery. We also help victims of Forex frauds, Binary frauds, Investment scams, Pension frauds and many other types of scams. Unfortunately, things like investor compensamarkets60n funds and segregated bank accounts are not present. On the bright side, they do make up for it by offering a ton of funding and payment methods. Also, this broker is connected with the semi-automated trading platform Cryptodroid which is one of the most beloved software in the trading realm.

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The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client. The broker offers a dedicated section for research support, namely Traders Centre. Under the section, you’ll find a long list of advanced trading tools, which can help you trade more efficiently. I have just started, so far I am good with the trading tools.

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