Depending on the type of trading account you opt for some brokers require a minimum deposit as high as 6500 GBP/USD. Inactivity Fee – A fee of up to USD 10 per month will be levied, should you not log in to your trading account for a period of at least three months. This fee will be charged once a month from that moment onwards, as long as no login is made to the account. The inactivity fee will be equal to the lesser of the remaining available balance in your account or USD 10 . This is to offset the cost incurred in making the service available, even though it has not been used. However, please note that the fee is only collected from the Real Money account and only when there are sufficient available funds in the account.
The FCA’s primary role is to protect customers from unreliable financial companies. A $1 investment means a $10 loss when there is a price decrease.
The price of a commodity futures contract is standardised, meaning the underlying instrument’s quantity is predetermined and appears the same for all market providers. Futures Exchanges are markets where financial institutions and individuals can trade a wide variety of commodities. LexaTradeUK is regulated by the British Financial Conduct Authority.
- As of 2017, with thanks to advances in the safety and security of Cryptocurrency markets, LexaTrade does offer bitcoin trading and other Cryptocurrencies.
- Although LexaTrade are not perfect we found many really useful aspects with the overall offering from LexaTrade.
- IF ANY REGULATOR read this you should seriously look into it .
- This is if your broker accepts funding your account via a credit card.
- The broker provides a huge variety of over 2,000 instruments including Forex, indices, shares, commodities, ETFs, and options.
- One of the main issues that most crypto enthusiasts have when it comes to LexaTrade is, in fact, the reason why other people love this platform – the contract for difference part.
When opening a trading account with LexaTrade, you will need to sign up here. You can find detailed guidance on LexaTrade trading platforms here. You will need to provide some basic documentation to prove your identity as part of LexaTrade onboarding and normal KYC identity checks. These checks are standard practice and help LexaTrade provide a safe financial environment for their 15,500 users.
They Are A Scam!!! Avoid If You Like Your Hard Earned Money
They also offer you the chance to promote the LexaTrade affiliate program to others. If you do this you will get 10% of the commissions that your referral pulls in. Unlike some exchange affiliate programs, you are only entitle to the commissions of the referral directly below you.
EVERY SINGLE trade I enter, turns around at that exact time to take out my stop loss before continuing back on it’s trend. It’s programmed like a poker machine to take your money. A twitter user name “LexaTrade0.com Class Actions” has taken the initiative to recruit victims of LexaTrade. The user also states that there is an ongoing initiative to produce a television show called “Exposing LexaTrade TV” and that interested parties should be in touch. In a post that both describes and recruits for the class action lawsuit the User also tags IronFX, a Cyprus based online broker plagued with a dark past of misconduct. However, due to large amounts of ongoing customer complaints, they should not be considered a trusted broker and we recommend that individuals avoid trading with them. To prove a LexaTrade scam will require more investigative research and legal initiatives.
Forex Peace Army
Depositing money to your LexaTrade account can be done via all known payment methods. LexaTrade is obliged to complete these lexatrade forex brokers reviews additional steps. This control phase has been put in place to prevent unreliable people to start investing at LexaTrade.
Each mobile app allows for not only CFD mobile trading but also includes price alerts and the ability to get real-time quotes on stocks and currency pairs. This is ideal for technical analysis and developing trading strategies. They also offer demo accounts or you can start trading with stock exchange real money through a live account. It’s recommended to commence on a demo account first and build up trading experience prior to a real account. Within global financial markets, LexaTrade is one of the most reputed CFD traders with high turnover and outstanding corporate governance.
Trade With Trust
Trading instruments offered may differ based on the country of residence of the Client. The Conversion fee is dependant on your base currency, your recieving currency, your payment provider. LexaTrade require a minimum desposit of 100 GBP/USD when opening an LexaTrade trading account.
Before you can withdraw, you must verify your identity. Its technical analysis tools are good for beginner to intermediate traders. There are 107 technical indicators that can be applied to different time frames, from tick charts to weekly charts for any instrument under trading consideration. Both the WebTrader and the mobile app offer charting tools. The charts in the mobile app don’t look as nice as in the WebTrader due to the lack of space.
If you don’t deposit additional money, your position will automatically be closed. BrokerChooser is free for everyone, but earns a commission from some of the brokers.
You must enter your full name, a valid email address, and your query so they can write you back with the response. The messaging platform WhatsApp is also an option for customers who have it installed on their devices. The LexaTrade WebTrader is compatible with a range of widely used browsers including Google Chrome, Safari, Internet Explorer, and Mozilla Firefox.
Latest Opinions And Experiences
Seriously, there is no actual support to assist making a withdrawal rather a glib reference to a 5-7 day delay to process a request. Then the withdrawal is rejected because My Financial Institution Wire Transfer isn’t correct. So although that info is supplied in a subsequent support thread explaining that in context their withdrawal screen “that it doesn’t allow that code to be provided”. I have had lexatrade cheating probably the worst experience I can remember when attempting to withdraw around $2,000.00 from my LexaTrade account. The withdrawal requests were rejected on a number of occasions with one exception where a valid request for my Credit/Debit card was requested and supplied. This was not required previously to validate and establish the account. Rather the 2nd reason for rejecting a withdrawal request.
Their registration with the FCA is a good indication that they are not a scam company. When the stock suddenly turns around they have +5% higher than the stock market value. In conclusion you would lose already 0,15% trading with +500 in the long run if turns go bad in your way. We are rarely commenting on scam reports from our users but this is obviously a very clear case. Opening several accounts is clearly against the T&Cs and a very good reason to terminate all accounts you opened trying to receive bonus money. Knowing the risk with this company, I traded exclusively with the bonus funds they offer.
LexaTrade safeguards the personal information of its clients through SSL encryption in its PC and mobile platforms. LexaTrade also urges its clients through its web platform to always look for the SSL security sign o the browser while operating LexaTrade.