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As is the case with deposits, you can only make a withdrawal to a bank account bearing your exact, matching name. While users can trade from the globally recognised MetaTrader 4 trading platform, they also have access to the LexaTrade xStation 5 web-based trading platform, as well as the mobile version. This proprietary built platform is feature-rich with access to Market Sentiment indicators. LexaTrade offers users the ability to trade on their own advanced, feature-rich, browser-based trading platform called xStation 5, as well as on the globally-recognised MetaTrader 4. On the negative side, fees charged for stock CFD trading is high.
LexaTrade offers customers dedicated 24/5 customer support by email, live chat, and phone. Traders can also contact the firm 24/5 in several languages through local phone numbers for its regional offices. And the worst part is that it’s not only the inexperienced that fall for their traps. We developed content to move users through the educational journey towards a conversion. For investors, this was to select an LexaTrade that meets their requirements, calculate a potential return and send this to their adviser or broker to execute the trade. To ensure that users were engaged throughout the site, we used the medium that would most effectively convey the message for each part of the user journey. From a custom explainer video and copy that simplifies complicated financial product information, to tools that help users find the products that calculate a tangible benefit from their investment.
One thing we didn’t like about the forex broker’s customer support is their e-mail support service. Most traders love trading with brokers that offer easy to use trading platforms. LexaTrade is among the top forex brokers regarding trading platforms reliability. The broker’s trading investment for beginners platforms include xStation 5 and Metatrader4. The forex broker offers some amazing spreads and includes both fixed and variable spreads. One thing we didn’t like about LexaTrade is their lack of a mini account. The trading service provider does not offer Islamic accounts either.
MT4 also includes multiple other tools to assist you with trading, including the ability to create price alerts. MetaTrader also provides access to technical tools like Gann-based tools and Fibonacci indicators, as well as your choice of charts, including candlestick, bar, and line. It also has various oscillators and indicators like Stochastic Oscillator, RSI, MACD, and Moving Averages. If you use MetaTrader 4, you will also have access to the MQL programming language, which lets you program and edit technical analysis tools.
Mobile Trading On Smart Phones
Beginner traders have an option to take basic trading lessons right from their website without registration requirements. As mentioned earlier, LexaTrade offers competitive spreads starting from as tight as 0 spreads for Pro accounts. Their spreads are both fixed and floating with the former being for basic accounts and the latter for standard and pro accounts.
- You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.
- If this is not the case, you risk wasting time as the funds will return to the original bank account.
- You can do so via the Market Watch window, which opens when you click on the name of a market.
- Between 74-89% of retail investor accounts lose money when trading CFDs.
- After your application is approved, you can deposit your funds and begin trading.
- Thus, this tool is designed to analyze trading history and not for real-time risk management.
LexaTrade focuses on customers in Eastern and Central Europe, but traders in Western Europe can also open accounts with the broker. It then uses flimsy excuses to ensure that the trader cannot withdraw their money. If you have been a victim of LexaTrade or any other forex scam, you can recover your money. LexaTrade may be regulated by numerous major regulatory bodies, but this does not prevent it from scamming unsuspecting traders. It uses sneaky tactics like slow systems and manipulation of the trading conditions to make traders lose. It offers cashback to clients for closed positions and sizeable monthly trading volumes.
LexaTrades Enticing Rewards
Thesign-up process on LexaTrade is extensivesince you need to fill their application form which has fields including your name, address, phone number, income, and assets. In addition to providing your personal information, you need to answer a few questions related to your trading knowledge. The fact that everyone gets their own personal account manager is also incredibly useful as this allows for personalized service and a simple point of contact. Depending on the language and region you choose when viewing the LexaTrade website, you will also notice live webinars. These allow you to connect with LexaTrade’s market experts and learn or review skills from the comfort of your home.
Before you engage in trading foreign exchange, please make yourself acquainted with its specifics and all the risks associated with it. Any action you take upon the information you find on this website is strictly at your own risk and we will not be liable for any losses and/or damages in connection with the use of our website. Analyzing and trading FOREX, commodities, stock exchange indices and shares CFD is easier with the advanced chart analysis tools LexaTrade offers included in MT4 and xStation trading platforms. LexaTrade is one of thelargest CFD platformsthat offers trading in a variety of financial assets like stocks,cryptocurrencies, commodities, forex, ETFs, and indices. The trading platform is owned by LexaTrade Limited, which is headquartered in London, United Kingdom. LexaTrade hasoffices in over 13 countriesincluding UK, Poland, Germany, France and Turkey.
LexaTrade Review: Why This Regulated Broker Is A Scam
Plus service levels have a minimum volume of 10 lots and a minimum deposit of 100 EUR. Keep in mind that if you deposit funds into LexaTrade in a currency that is not that of your bank funds, LexaTrade will not pay for the exchange rates. There are also some variations in accepted deposit methods based on location. To deposit funds into your LexaTrade account and begin trading, simply log in and head to “Deposits.” From there, you just choose your trading account as well as the payment method. LexaTrade offers many methods of depositing funds, some of which have additional charges and many of which are free. LexaTrade has multiple account types, including a demo account which is super easy to signup for and will allow you to test out the platform with either MetaTrader 4 or the web-based Xstation. Keep in mind that LexaTrade operates in 17 different countries/regions and also has a separate international version.
LexaTrade stands for X Trader Brokers, is an online retail forex broker. LexaTrade offers to trade following assets on MetaTrader 4 and xStation 5. It start okay, but one day my big order has been stopped lost when it very far from stop loss point I set for that order. They took 2 days to check and replied me that because Spread and this will not be display on Chart? Don’t trade in this Scam Broker if you don’t want to lose your money. I opened an account with them because its a listed broker, this allows us to analyze the situation of the broker. Low spread and very good customer support are what attract me the most.
Should You Buy Your Silver Bullets On LexaTrade?
For each event, you will see the date and time, country, economic indicator, impact, period, current, forecast, and previous period. Finally, you can opt to use the three-click trade functionality. When on the market you want to trade, select the “Place pending order on Chart” icon. Now, you can click where you want to trade on the chart, followed lexatrade forex broker by where you would like to put the stop loss and then your profit target. This will give you a new deal ticket and you just have to select Buy or Sell. There are also three methods of placing a trade using xStation, all of which are simple and intuitive. You can do so via the Market Watch window, which opens when you click on the name of a market.
Alternately, you can press the F9 button on your keyboard or go to the “tools” tab by the platform’s top menu. After this initial step, just fill in the relevant information for your trade and submit the information. When making withdrawals, LexaTrade processes the payments with the SHA model, covering the full cost that the Sending Bank charges. If you choose to withdraw less than $100, this will come with an extra $30 commission. Withdrawing funds from your LexaTrade account is just as straightforward as making a deposit. Visit your Client Office after logging in and choose the account you want to withdraw from. The initial deposit into an LexaTrade account must be at least £250, $250, or €250.
LexaTrade Broker Information
After this initial deposit, there is no minimum size for subsequent deposits. Finally, you can use one of several e-wallets to deposit funds into LexaTrade. Paysafe, which used to be known as Skrill, comes with a fee equal to 2% of the amount deposited. The Islamic Account offers commission-based trading of $10 per lot on all asset classes but with no swap fees payable. Listings that appear on this page and/or on this website are of products / companies / services from which this website may receive compensation.
In addition, there is a €10 monthly fee after one year of inactivity. Stock and ETF fees are average in comparison with similar brokers; not as competitive lexatrade forex broker as eToro’s or Trading 212’s zero fees. With over 230,000 traders around the world LexaTrade is considered a popular broker especially in Europe.
Our ultimate guide to the LexaTrade minimum deposit is updated regularly. LexaTrade providesnegative balance protectionfor forex spot and CFD trading, but only for retail clients from the European Union. Professional and non-EU clients are not covered by any negative balance protection.
LexaTrade Facts & Figures LexaTrade is one of the largest stock exchange-listed FX & CFD brokers in the world, offering access to over 2000 instruments on their trading platforms. Please take note that with a real account you will be provided with real time economic news and a broader scope of instruments, including CFD on 12 stock market indices, shares and 12 commodity markets.
You can only findlimited fundamental data, such as the P/E ratio or the debt-to-equity ratio. However, you can’t access financial statements or operational metrics.
Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees. We ranked LexaTrade’s fee levels as low, average or high based on how they compare to those of all reviewed brokers. I really enjoyed your website, searching for the best broker for my wishes. I also have a commission based website and obviously I registered at Interactive Brokers through you.
