Category: Forex reviews

It is a high degree of risk to trade securities and derivatives. Some data in the reviews are verified but data can vary from time to time. We ranked LexaTrade’s fee levels as low, average or high based on how they compare to 150 brokers that we recalled their live account spread in our database. At LexaTrade, you can trade only CFDs on forex, stock indices, commodities, and German government bonds with 85 instruments in total. Popular asset classes, such as stocks, ETFs, mutual funds, bonds and options are missing.

You have the option of viewing your full portfolio and any past transactions that you have made, to keep updated on your performance. On the other hand, the MT4 web trading platform does not provide price alerts or notifications, and you will have to rely on the initial login process since there is no two-step verification process. LexaTrade is regulated by the Financial Conduct Authority of the UK , the Cyprus Securities and Exchange Commission , and the Financial Services Authority of Seychelles . This Forex trading broker takes protective and preventive measures to look after client information and client funds. LexaTrade has got a lot of tools, instruments and, naturally, trading platforms. So much so, they are actually pretty confusing, even if necessary to go by in this CFD-encouraging place.

We tested the debit card withdrawal and it took 1 business day. You can also open corporate and swap-free Islamic accounts. The main difference between Islamic aand other accounts is that instead of daily swap rates, an administration fee is charged if you hold some exotic currencies for more than 3 nights. There are only a few exceptions, e.g. customers from the US or Canada can’t open an account.

Stock Indices & Wti Trading

Now he and his team focus researching and comparing broker’s pros and cons. He loves analyzing and trading the markets as a strategist and trader. In late 2019, Jimmy turned to researching and analyzing forex brokers. LexaTrade aims to provide a trading environment that allows its traders to reach their full potential. This is done by the trading tools and market research materials provided for the trader. Market research materials such as trading ideas and fundamental data help the trader to understand the trading industry.

LexaTrade is considered excellent and reputable to trade with LexaTrade. LexaTrade is used by over 10,000 active traders and LexaTrade users. LexaTrade offers Forex lexatrade website trading, CFD trading, Spread Betting trading, Social trading, and trading. First and main problem is fake and imaginary WTI CFD price they offer in the moment.

Trading On LexaTrade Web Platforms And Other Applications

Although many traders have had great success with LexaTrade, trading on the financial markets with LexaTrade is not a get-rich scheme. If you educate yourself, practice with a demo account, and carefully plan your trading, your chance of success will significantly increase. LexaTrade is currently regulated by the Financial Conduct Authority . One of the essential criteria for traders when choosing a broker like LexaTrade is the broker’s regulatory body and regulatory status. Brokers who conduct business without regulation do so at their discretion and pose a direct risk to their clients’ money security. When you send in a withdrawal to LexaTrade, this will be honored.

LexaTrade has spreads average spreads 0.1 pips on EURUSD and 0.3 pips on GBPUSD. Foreign exchange, precious metals and over-the-counter contracts are leveraged products, which have high risks and may lead to losses of your investment principal.

Withdrawals must be made via the same method used to deposit. Please note that some methods may only be available to specific countries. Skrill, Neteller, FasaPay, UnionPay and credit card deposits are usually processed instantly while withdrawals are processed within one working day.

• Please note that this broker does not offer crypto currency trading as actual or as CFDs.
• Apart from the government bonds, you will also be able to trade on more than 62 currency pairs, commodities like gold, silver, crude oil, 15 different equity indices and also Bitcoin when with US dollar.
• LexaTrade has a great mobile trading platform, we really liked its design and user-friendliness.
• Before deciding to trade Contracts for Difference , you should carefully consider your trading objectives, level of experience, and risk appetite.
• It offers a conducive trading environment and users do not have to incur any transaction cost.
• They give traders access to a wide variety of instruments in several markets like currencies and indices.

And yet, is LexaTrade a scam or a dignified startup broker, which is certainly worth to be looked at? LexaTrade has a BrokerNotes double AA support rating because LexaTrade offer over three languages email and phone support. LexaTrade also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.

Trading Calculators

LexaTrade allows the traders to trade with LexaTrade Seychelles if they need high leverage. And those who can comply with the regulations of ESMA can obviously join the UK or Europe branch of the brokerage. In other words, you will be able to achieve complete flexibility as a trader with LexaTrade.

LexaTrade offers three types of trading accounts; Classic, Pro and VIP. LexaTrade also offers swap-free accounts for traders of Islamic belief. Once you are sure that your money is secure, you want to know how fast and conveniently you can deposit and withdraw your money.

LexaTrade Pro Account:

Accounts can lose money due to either not putting enough effort into researching the markets, lack of experience or not using the tools provided by the brokerage platform. We aim to provide unbiased online trading broker reviews to give traders a clear understanding of the different brokers available to forex them. Traders can use our free service but should do their own due diligence and make their own decisions when choosing an online trading broker suited to their individual needs. LexaTrade is a multi-regulated online broker offering retail & institutional clients across the globe 80+ trading instruments.

For both chat & email, we asked them basic questions, below is a review our overall experience with their support. They have a $30 welcome bonus offer with no deposit, but it is not available to South African traders for now.

One of the most appealing factors about forex trading is the use of Leverage and Margin. As such, LexaTrade is a well-regulated broker that is able to offer its clients a safe and secure trading environment. The FSA is a recognized regulatory body, while CySEC falls under the jurisdiction of the EU and thus offers clients the security levels associated with trading in this jurisdiction. The company’s mission is to provide retail and institutional clients around the world with an exceptional trading environment that empowers them to reach their full potential. We receive a commission from some of the brokers if our readers open an account using our affiliate links. However, our reviews are based on our actual tests which are transparency and unbiased. On the negative side, platform tutorial videos are not categorized.

Similarly to deposit, LexaTrade charges no fee for withdrawal.You can use the same options for withdrawal as for deposit. LexaTrade has low non-trading fees.There is no fee for deposit, withdrawal, or inactivity. Below you will find the most relevant fees of LexaTrade for each asset class. For example, in the case of forex and stock index trading the most important fees are spreads, commissions and financing rates. To get things rolling, let’s go over some lingo related to broker fees. What you need to keep an eye on are trading fees, and non-trading fees.

LexaTrade Languages And Trading Software:

With its headquarters located in both UK and Seychelles, the company offers its clients a wide range of account choices with respect to the status of tax and location. All accounts at LexaTrade offer STP market executed trades in 0.1 seconds on 62 currency pairs in addition to CFDs on stock lexatrade courses scam indices, metals, and bonds, without any dealing desk interference. Over 15 years experience in forex, commodities and equities markets research. He loves analysing and trading the markets as a strategist and trader. In late 2019, Jimmy turned to researching and analysing forex brokers.

Justin Grossbard has been investing for the past 20 years and writing for the past 10. He co-founded Compare Forex Brokers in 2014 after working with the foreign exchange trading industry for several years. He also founded a number of FinTech and digital startups including Innovate Online and SMS Comparison. Justin holds a Masters Degree and an Honours in Commerce from Monash University. He and his wife Paula live in Melbourne, Australia with his son and Siberian cat. In his spare time, he watches Australian Rules Football and invests on global markets. In Demo account MT4 trading platform is offered by LexaTrade.

You can use this tool to link your account to follow the strategies of other traders in Myfxbook Autotrade. The signals you follow will be copied automatically and directly into your LexaTrade account.

Overall, these low costs and spreads keep LexaTrade very attractive to those looking for the best all-around trading experience. Although there are a couple of areas that LexaTrade can improve on, they generally do very well across the board in terms of positive points. This is led by the fact they offer some of the very lowest spreads in the industry, particularly the raw spread, helping keep trading costs down. Looking for an independent and professional Forex brokers review? Our researches will help you find a broker supporting all financial instruments you may need.

The only slight difference is that, since there are no swap fees on this account, the broker does implement an additional fee that starts from $5 per lot depending on the currency pair. Here too you will have access to the very same great range of market choice with more than 200 CFDs, and 60 forex pairs for trading. Given the very low trading costs, this is the favored account type for many forex scalpers.

In the period of a year, that would be a return of 250%, which is 25 times higher than the average return of the S&P 500. LexaTrade has several trading resources available to its users. Starting with educational resources, LexaTrade dedicates an entire section of its site to learning materials. They have a blog section where users can learn about forex and CFD trading.

Especially, in the Australian forex market, LexaTrade and Pepperstone are leading ECN Forex brokerage service providers. Meanwhile, Withdrаwаlѕ саn bе mаdе viа mаnу оf thе ѕаmе mеthоdѕ thаt are liѕtеd аbоvе аnd will be gеnеrаllу рrосеѕѕеd within thе ѕаmе wоrking day. Withdrаwаlѕ are gеnеrаllу frее оf charge, but international bank wirе withdrawals соmе with a fее оf аrоund $20 AUD. IC Mаrkеtѕ iѕ fully optimized for ѕmаrt mobile dеviсеѕ including рhоnеѕ and tаblеtѕ. Thе MT4 trading рlаtfоrm hаѕ mоbilе applications compatible with bоth iOS аnd Andrоid dеviсеѕ аnd iѕ аvаilаblе fоr frее download frоm thе Apple Aрр store and thе Gооglе Plау ѕtоrе. Also, thе cTrader рlаtfоrm iѕ web-based аnd is compatible with mobile browsers аnd аlѕо hаѕ a dоwnlоаdаblе аррliсаtiоn fоr iOS and Andrоid dеviсеѕ. Thеѕе mobile trаding platforms feature muсh оf thе ѕаmе advanced funсtiоnаlitу as thе desktop platforms, аnd hаvе been designed tо рrоvidе a convenient and ѕеаmlеѕѕ trаding еxреriеnсе.

LexaTrade Trading Accounts Review

Daytrading.com may receive compensation from the brands or services mentioned on this website. Specialising in Forex but also offering stocks and tight spreads on CFDs and Spread betting across a huge range of markets. So trading will be available as an when markets around the world are open, so trading hours reflect markets hours. In terms of opening hours, the IC Support desk is open 24 hours a day, for 5 days a week. There are no fees for domestic withdrawals and with e-wallets. Unfortunately, LexaTrade do not offer their traders any sort of bonuses.

You will also find a handy guide to getting started with MT4. The excellent cost of trading makes LexaTrade a very popular choice among scalping traders who are attracted by the low spreads and commissions in play. When it comes to EAs and Algo trading, these can be accessed both through MQL in the case of MetaTrader, and cAlgo in the case of forex strategy cTrader. Therefore, there is something to fit all needs with LexaTrade. With LexaTrade withdrawals, these usually take around 3 days though they can take up to 2 weeks. This depends on the method chosen, and you must use the same withdrawal method as you used to deposit funds. These start from 0 pips and a competitive commission is in place.

Is This Broker Good For Beginners?

These are well-structured and cover useful topics like technical analysis and risk management. It is slow, as the average wait time for an answer was more than 10 minutes. For example, we had to ask several questions until we got information on how their financing rates work.

• Through this regulatory scheme, some LexaTrade clients outside of Australia can continue to trade with conditions available to Australian clients, such as higher leverage.
• They also give good options for the advanced traders, because they connect the signal providers with the investors.
• The companies core values are built upon integrity, trust, honesty and fairness.
• Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money.
• Feel free to try LexaTrade, as you can have an account within a day and there is no inactivity fee.
• Besides the live chat option, LexaTrade also has a dedicated support email address (), where customers can send their queries.

But very recently they have expanded customer base for users of MAC and Apple computers. The ease of trading is equally good for Android phone users, iPhone, iPad, and tablet users. This makes trading very easy and user are able to access their online account portal from everywhere. A few years ago, a high-profile currency trading broker disappeared with $1 billion of client funds. They talked a big game and claimed to trade $4.8 billion on behalf of 100,000 investors and promised gains of 1 percent a day.

What Is The Minimum Deposit At LexaTrade?

Education – The brokerage features numerous video tutorials with the focus on educating traders on the various aspects of day trading. As well, they provide many articles and guides to help their traders. This account allows the trader to practice using virtual money in a live market environment. LexaTrade is a reputable and established online trading brokerage based out of Sydney Australia . The company was founded in 2007 and is owned and operated by International Capital Markets PTY, with their headquarters locates at Level Kent Street Sydney, NSW 2000. They are required to meet stringent conditions before they are licensed. Here are the criteria we used to review and pick the forex brokers on this list out of the hundreds of forex brokers out there.

LexaTrade is an Australia-based global forex broker that was founded in 2007. Other problems of the website being unavailable (“no connection” error for example) are largely more a questions of the trader connectivity rather than the broker. In our experience, it is very rare for the platform to be not working, but can happen. As a regulated brand, their policies are transparent and trader funds are separated from company funds. LexaTrade offers their traders a wide variety of deposit options in 10 different currencies. These include AUD, USD, EUR, CAD, GBP, SGD, NZD, JPY, HKD, and CHF. In addition, traders can trade on the go with MetaTrader4’s mobile apps for both Android and Apple, and also from any desktop via the web-based MetaTrader platform.

Broker Alternatives

LexaTrade enables copy trading via Myfxbook Autotrade and ZuluTrade, while MT4/MT5 also has an integrated copy trading platform. My LexaTrade VPS review found services from Forex VPS, Beeks FX VPS, and New York City Servers. lexatrade cheating Algorithmic traders with a monthly volume of 15 lots get VPS hosting of charge. The minimum deposit for either option is $200, which is higher than at many brokers, but I think well worth the excellent trading environment.

LexaTrade also offers a number of useful risk management features, such as stop losses , limit orders, negative balance protection, price alerts, and much more. You can see all of the account features offered by LexaTrade lexatrade forex brokers reviews here. New features like additional timeframes and advanced charting tools can give you a competitive advantage in the financial markets. Brokers that do not charge minimum deposits do so usually to attract new customers.

These tools include economic calendars, alerts, technical indicators, market data, VPS and more. MT4 is one of the most popular online trading platforms that is used by millions of traders around the globe. It is free to use and can be downloaded as a desktop platform or run directly in your web browser without the need to download or install any additional software. It is also available as a mobile app for Android or iOS devices and can be download for free from the relevant app stores. LexaTrade offer the MetaTrader 4, MetaTrader 5, and cTrader platforms. These are the 3 most popular and user-friendly trading platforms available today. The True ECN trading model is incorporated into all of the platforms at no extra cost for all levels of traders.

Nice Platform

The features listed above are useful for both the beginner and the advanced trader. The LexaTrade Raw Spread account offers liquidity from over 50 different banks and dark pool liquidity sources. The company’s additional regulation by the FSA of Seychelles came into effect in July 2019 due to changing global regulations for CFD providers. Through this regulatory scheme, some LexaTrade clients outside of Australia can continue to trade with conditions available to Australian clients, such as higher leverage. LexaTrade is my personally favored Forex Broker because here you are without conflicts of interest to very small fees. Thus unlimited profits can be made and the broker earns only at the commission of its money.

It also caters to social traders with three copy trading services, while beginner traders benefit from a high-quality educational platform and excellent 24/7 customer support. LexaTrade is a good broker for investors who want to run automated trading strategies on MetaTrader and cTrader platforms.

With 500,000+ executed transactions, 60%+ from algorithmic trading solutions, and $29+ billion in Forex volume, LexaTrade operates the largest Forex broker globally. In March 2021, LexaTrade achieved trading volumes of $1.04 trillion. Traders have 61 currency pairs and 13 cryptocurrency pairs, placing LexaTrade in the middle of the competition. It shines with 1,659 equity CFDs and 25 index CFDs, offering traders an excellent selection. Completing the available markets are 22 commodity CFDs, eleven bond CFDs, and four bond CFDs. Overall, LexaTrade maintains a well-balanced choice of trading instruments.