Not everything you see on the world wide web is credible. The online community is replete with lies and fabricated news for what its worth. There is a reason why the term “Fake News” has been plastered across the online Metropolis.
With brokerage reviews, the case is not so different. Regardless if one is a novice or a seasoned trader, he or she is not impervious to falling for bad reviews on a brokerage he or she might not be thinking of signing up for. But of course, it is completely understandable; it is an inclination and a necessary evil to easily doubt any business or financial entity that requires one to invest his or her hard-earned money. The bottom line？ Trading is a gamble, and investing in markets through a brokerage firm is no joke. And the presence of negative reviews does espouse plenty of misgivings, and worse, paranoia.
LexaTrade is one of those brokerages that get the brunt of bad reviews. One look at its own Facebook page is enough to have you running in the other direction. The personal posts on LexaTrades timeline range from the banal and straightforward to the detailed and educated would leave a bad taste in your mouth.
SCAM!! SCAM!! Alert, be careful, guys.
Gideon K. Birgen March 2020
It‘s a scam. Please don’t put your hard-earned money into the broker. With fake marketing, they tell you, you get insurance, less risk, etc. You cant withdraw once invested. Everything is fake!
Sudha Navin, September 2020-10-29
Try to be open before inviting someone.
I lost all of my savings here…. As of could have told early that this is the way in forex trading would have never gone….
Amit Photon, October 2020
Probably one of the most poignant testimonies within LexaTrades Facebook page was lodged by a man by the name of Ugochi Obianodo. He was involved in banter with a certain Amar AC, one who appears to be another LexaTrade client who seems to be defending the brokerage. Ugochi Obianodo had something to say:
Amar AC I deposited $500 and made a profit of $500, making it a total of $1000. I tried withdrawing $500, but they refused my withdrawal and said I have to trade up to $100,000 before my withdrawal request will be accepted. How insane!!! Of course they know its quite very hard to trade up to $100,000 with just 500 without losing all your money! THEY ARE BIG SCAM PLS DO NOT TRADE WITH THEM!
Such accusations are hard to ignore especially with the details that had been laid out. However, the question still stands: how are we sure that these are legitimate allegations. It‘s easy to fabricate stories. It’s even easier to make them public for everyone to see. The unfiltered nature of posts on Social Media platforms about the LexaTrade broker does not serve the cause of finding a pointed and objective analysis of what the firm actually offers. A number of broker review sites also have positive views on the firm. These good points are lodged in light of LexaTrade‘s offered incentives, bonuses, and promotions that aim at inviting more traders to enlist with them. These reviews were found to be detailed and enlightening toward the possible misconceptions regarding the brokerage’s services.
One of the noteworthy positive reviews filed online goes against the narrative that LexaTrade cheating. Writer of reviews says:
Saying LexaTrade scam is inappropriate because, for premium customers, the developers have provided several profitable offers, ranging from the deposits commission and ending with the methods of withdrawing funds from the account. Traders who have reached this state have more points, trade without restrictions on the number of transactions, have access to funds, and have the opportunity to defer payment.
In LexaTrade review, the writer had highlighted LexaTrades provision of deposits commission. In addition, he or she had also brought the capability given to LexaTrade users to trade without any restrictions. Through the statement quoted above, readers are made to understand that LexaTrade is not only given these perks but also allowed access to funds and deferment of payments made through its platform.
While LexaTrade reviews may be considered to topple the negative bandwagon against forex broker, it does not change that all reviews found online are polarizing and altogether divisive.
Basing decisions through mere online research may prove fruitless should it not be backed up by actual diagnosis of the broker‘s offers and services. If one is to base off of impressions, the negative issues thrown at it can easily be chalked up to the LexaTrade user’s complete ignorance of how the trading industry works.
Having said this, the LexaTrade user and the reader of review are recommended to practice greater regard on research and due diligence. Such can be observed through actual conversations through the forums or actual face-to-face communication. Of course, these individuals should have an actual live LexaTrade account they have used for a considerable period of time.
What to Expect from LexaTrade Review
With everything said earlier, to do a LexaTrade review, we had taken it upon ourselves to conduct an exhaustive examination of LexaTrades offers and services.
As a result of months spent with a broker, users had conducted the tests by actually signing up for a LexaTrade account. Through the access of a live account, we were able to look into the following aspects that make up the brokerages services:
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Regulation
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Offered trading accounts
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Available trading platforms
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Fee Structures
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LexaTrade Customer Reviews
We had ensured a pointed evaluation through its employ of all functions of the LexaTrade official site. This has been done so traders who are still in the initial process of looking into LexaTrade website will be assisted into the fields and segments within it so they can easily navigate through and explore the site further for trading-related material.
Lexatrade official site has an intuitive interface with all the access to the inner pages accessible through the fields that can be seen on the top most part of the landing page. It is complete with all descriptions of LexaTrades offers, its website tools, and legal documents ensure safe trading with the broker.
What the reading of review ultimately provides its readers is a fair assessment and perspective of LexaTrade. Had it not been clear enough, users believe, subscribing to the numerous reviews with tags “LexaTrade courses scam” and a “LexaTrade cheating” is ill-conceived and entirely unfair. lexaTrade broker might just be another victim of either ignorance or outright fabrication. It is the aim of review to set the record straight.
To serve the cause of fairness, the reviews last segment will quote both positive and negative ones, that were gathered from various trusted brokerage review sites.
About LexaTrade
LexaTrade‘s year of founding and the regulatory body that sanctions its activities had not been disclosed through the firm’s site. To find out the brokerages profile, one should consult other sites with LexaTrade reviews. While not necessarily a red flag, this is completely inconvenient and taxing.
Getting the pulse of a brokerages legitimacy is served well by the immediate disclosure of its primary details.
The review site, “The Forex Review”, is the site that has been able to give many details. While the founding year had not been revealed, the site did say that the broker is a business entity under the Swissone Group Ltd., which operates within St. Vincent and the Grenadines.
As with the other brokerage firms within St. Vincent and the Grenadines, there is no trail of evidence of LexaTrade‘s regulatory body. This is so as the region’s local government does not have any provisions for regulating Forex trading activities.
This alone raises considerable doubt as LexaTrade‘s users are simply not assured of legal means to recover or compensate for the potential untimely loss of funds. LexaTrade’s lack of regulation is something we should not gloss over regardless of the firms advantageous features. Remaining alert and wary of such shortcomings should take precedence.
Overview of LexaTrade Forex Broker Advantages
Five (5) trading accounts are offered by LexaTrade. These include:
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Start Account (min deposit $250);
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Silver Account (min deposit $3,000);
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Gold Account ( min deposit $10,000);
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Platinum Account (min deposit $50,000);
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VIP Account (min deposit $100,000).
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Lack of the Trading Academy and the MT4 Terminal platform within the Silver Account;
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Only Web Terminal version of the MT4 platform being provided for the Gold Account;
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Stock Trading being limited in Gold Account;
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Reduced Spreads in Gold Account.
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LexaTrade Web Platform. It is LexaTrades proprietary platform. Software has four (4) observable advantages:
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Wide array of trading tools. LexaTrade platform offers over 170 trading instruments, including popular stocks and indices, precious metals, and energy products.
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Risk Management. LexaTrade platform gives its clients the capability of fixing profits and limiting potential losses in a timely manner.
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Full control of transactions. Through the platform, a trader can work with open and closed deals and easily limit orders. A trader is also allowed to view all executed trades through a single instrument.
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Offers the best trading solutions. LexaTrade platform provides its users with the technical adviser, Autochartist. Through this tool, traders are offered efficient methods of Technical Analysis to guarantee good trading conditions and even more profitable trading endeavours.
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xCritical Mobile Application
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MetaTrader 4
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LexaTrade provides its clients an impressive range of products and services that permit sound and lucrative trading conditions to aid its clients in building strong investment portfolios
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While the broker is not being regulated, LexaTrade is able to provide security to its clients investments through its offer of reliable trading platforms.
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LexaTrade broker offers its clients a great deal of good services through each trading account.
Now, given the figures disclosed through the parentheses, it is easy to be turned off by the brokerage. The 250-Dollar minimum deposit to activate Start account may be considered already costly given the limited features made available to its users. Table below details all the features and offers that each account provides its users.
Offers above may be seen as completely advantageous for traders who choose to open any live account with LexaTrade. But while enticing, the costs when directly placed with the feature, leaves a lot to be desired. As this is the case, the following observations have been noted:
Users advise LexaTrade to review their minimum deposits against the offers found in each of their trading accounts.
LexaTrade Trading Platforms
LexaTrade provides its clients three (3) trading platforms:
The xCritical platform is one of the most noteworthy trading platforms in the trading industry. Some even suppose it comes to par with industry favourite, MetaTrader 4. Through its mobile platform, an expansive set of tools available through its PC version are mirrored effectively. These tools include a number trading signals and a highly-intuitive and neat interface. xCritical is preferred by 8 out of 10 seasoned traders.
MetaQuotes‘ most in-demand trading platform, MetaTrader 4 (MT4) is simply one of the best trading software available in the market. MT4’s interface is intuitive and has a benevolent number of tools. LexaTrade provides MT4 Web Terminal. It permits them to trade safely with its technology without any need to download and install it on the traders PC or mobile device.
The provision of these platforms by the brokerage are seen as lucrative measures for each trader who chooses to open a live account with a broker. These platforms provide good trading conditions. Even in case of LexaTrades proprietary platform absence, MT4 and the xCritical Platform are already enough to turn any trading endeavour into a profitable activity.
LexaTrade: Real Reviews of a Forex Broker; What the Online World Actually Thinks
Now we are going to deal with reviews gathered across the worldwide web.
To establish fairness, all LexaTrade reviews are divided in two: the Negative Reviews and the Positive Reviews.
We had thought it best to quote them directly here for the readers to see. Trading is a high-risking activity, and each trader decides himself how to interpret information. Keep reading to know what the online trading community thinks about the Lexatrade broker.
LexaTrade Negative Reviews
LexaTrade is a dangerous broker.
Lexatrade isnt what you think. We are going to detail what makes a broker a scam. All of our reviews are based on research carried out by professionals.
LexaTrade regulation.
Each broker must have regulations for each country where it offers trading. Lexatrade broker offers trading worldwide but doesnt have all the licenses to do so. It is the first dangerous signal coming from the broker.
LexaTrade uses the license of another regulated company.
This is often the case if a broker is cheating. It uses a license from a regulated company (they almost have the same name) or gives a invalid license number. Also pay attention to licenses from offshore countries such as the Marshall Islands or Saint Vincent and The Grenadines but isnt just these fraudulent countries, there are several.
Taken from: https://scamonline.net/lexatrade-review/
Original Text:
LexaTrade uwaga to kurwy i zlodzieje nie dajcie sie nabrać tym skurwysynom
LexaTrade attention are whores and thieves dont be fooled by these mfs
– Edward Urbanek, September 2020
Review taken from: https://www.facebook.com/pg/LexaTradeEN/reviews/
LexaTrade Broker Positive Reviews
Everyone should understand how to distinguish a good broker from those that are often considered scammers and why forex is a scam. We present your user reviews, according to the rating of a broker.
If, in general terms, the company works honestly, and I would not find any illegal actions. If there is a drain, then it is the fault of the current customer who could not calculate the risks and got into a situation when the deposit is squeezed to the margin stake and can ultimately fly out by stop out, now the volatility is very high. It is not necessary to wait for some news, and the market is moving unpredictably.
I have been trading on the market for 5 years, of which almost 2 years on LexaTrade. There have never been problems with the company. I am comfortable working with them. I go to the LC only to withdraw funds. The terminal works well, the connection is stable. There were no performance problems or disputes.
Oleferev Evgeny Igorevich, St. Petersburg, says:
I consider LexaTrade a reliable and conscientious company. Im not exaggerating anything. Only with him can I earn and withdraw money. LexaTrade broker attracted me. In all reviews about LexaTrade, it is distinguished by the reliability and honesty of the company. Of course there are questions, but after correspondence with tech support everything is successfully resolved. We continue to cooperate further.
Trading conditions, if not the best, then some of the best, there have never been any hitches with execution, so that the connection disappears, too, is not seen. There is a slight glide, but I didnt notice a serious one, on EUR / USD there can be a glide of a maximum of 1-2 pips and then on serious news. And even on m1 you can scalp. The output without any problems of any amounts.
Stepanova Irina Viktorovna, Kislovodsk says:
Reviews taken from: https://traderoom.info/lexatrade-review-pros-cons-and-verdict/
I have been working with LexaTrade broker for six months now. I learned about it much earlier, but I came across negative info. I read in comments on one forum the information «LexaTrade scammers», fraud, etc. Therefore, I was afraid to open an account there. Then he learned from a friend trading with a LexaTrade broker that all prosecutions are complete nonsense. As a result, I opened an account there, on which I have been trading for six months. In principle, everything suits me. Trading platform works stably, occurs smoothly and quickly. What else is needed for profitable trading？ I recommend the LexaTrade company to everyone.
Anatoly, 32 years old, Moscow
Review taken from: https://forexdelta.net/real-lexatrade-customer-reviews-of-lexatrade/
Talking about the fraud and scam allegations, the review team for the site, “Forex History” has something interesting to say:
Most likely, these reviews were written by the company‘s competitors. The LexaTrade broker reviews on the site ends with a section with links to the company’s documentation. As expected, the company‘s website is trustworthy and doesn’t contain any lies, but unfortunately, many inexperienced users believe Lexa Trade is scammers because they meet negative LexaTrade customer reviews
There is also a certain affiliate program on the site, which helps customers to bring new users, promising them a bonus in return. Here, we also cant speak about LexaTrade cheating.
The collaboration of the LexaTrade company with social networks proves: the company is reliable and tries to save the trader‘s money. Some negative reviews exist, but they are likely to be ordered by the competitors because there aren’t any photos. On LexaTrade website, everybody can have a personal profile. Also, some other people can act through your LexaTrade login.
Review taken from: https://forexhistory.info/brokers/what-is-lexatrade-and-how-to-use-it/
The brokerage company LexaTrade login is an organization with many years of experience, providing traders with services within their electronic system. Today, the broker positions itself in foreign exchange market as one of the most successful.
The company began its work by managing cash transactions in real-time trading using a PAMM account. As of November 2019, more than 2,000,000 merchants from all over the world are using the services of a broker. Forex broker LexaTrade site offers traders to open Start account with an initial deposit of $ 100, which is a fairly advantageous offer compared to other brokers. To make it easy for merchants to conduct financial transactions, developers created a convenient interface and an affordable system.
Review taken from: https://forexdelta.net/real-lexatrade-customer-reviews-of-lexatrade/
The links that were included in the quoted testimonies will direct the readers to actual existing, live, and legitimate sites. All readers may visit these sites to see more reviews.
Trading with LexaTrade: Takeaway
With all the points discussed within this review, it is difficult to see why LexaTrade is branded as a fraudulent or scamming entity.
Organic search for reviews reveal that positive and reasonable reviews are actually outweighed by negative ones. But most of the negative reviews are concentrated on Social Media, where you can write “I was scammed by LexaTrade” without any proof.
Analysing offers and services the broker provides its clients, calling LexaTrade scammers is completely uncalled for. Our review had thoroughly outlined these notable points:
Given these three major points, LexaTrade may be seen in a more positive light. Hence, the allegations of scam and the libel hurled against it through various online resources are effectively dispelled.
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