Lexatrade is a member of the MaxiMarkets group that provides forex trading services to clients from several jurisdictions. Lexatrade offers fast market transactions, low commission fees, and dependable 24/7 customer support.
Discover more about Lexatrade and learn how to maximize its favorable trading conditions to your advantage by reading this broker review in full.
In this Lexatrade review, we are going to have a rundown of Lexatrade’s trading service features, conditions, and other important aspects of its brokerage service.
Company Background and Official Site
Lexatrade forex broker started as a broker by focusing on managing cash transactions in real-time trading using PAMM accounts. Since then, it continued to develop trading solution sand improved its services and instruments. It also expanded its reach to multiple jurisdictions, getting more client traders from across continents. In 2019, Lexatrade reached over 2 million merchants all over the world. With a convenient platform and affordable brokerage fees, Lexatrade continues to expand to become a more popular international trading brand.
On Lexatrade’s official site, the broker stated that its operation is legal as it is regulated by the International Financial Market Relations Regulation Center (IFMRRC). IFMRRC is a non-commercial organization that was established to regulate the quality of services offered and provided by brokers, dealing centers, including the reliability of services provided by the cryptocurrency community such as cryptocurrencies, cryptocurrency exchange sites, cryptocurrency mining, and companies.
When opening an account with Lexatrade forex broker, you just need to fill in the registration form available on its site with some information including your name, email, and contact number. Below is the actual registration form that you can see on the broker’s landing page.
Trading Features and Fees
Lexatrade offers a range of account types to its clients. These include Start, Silver, Gold, Platinum, and VIP. The minimum initial deposit is from $250 and up to more than $100,000. The broker gives a welcome bonus ranging from 30% to 120% depending on the account type. The full perks of trading feature Lexatrade offers include a financial analyst, account analysis, VIP trading techniques, full course of trading academy, passive income, MT4 platform, investment portfolio, private VIP webinars, access to all financial markets (forex, indices, shares, and commodities), VIP trading instruments, and minimum spreads.
Trading Platforms & Tools
Lexatrade provides two platform offerings to its clients: the xCritical mobile app and the MT4 in different versions including a Web Terminal version.
xCritical is only available in a mobile app version. It is downloadable in iOS and Android devices. When using this platform, traders can easily track the movement of prices as well as timely Forex forecasts. xCritical mobile trading also allows users to open and close transactions with no delay. Market orders are also available in Stop Loss and Take Profit functionalities. Lastly, traders can also check their account balance anytime and replenish their accounts conveniently.
The MT4 versions under Lexatrade include MT4 for Windows, iOS, and Android devices. Meanwhile, the Web Terminal version is advisable for traders who wouldn’t want to download and install the app on their devices.
Lexatrade offers an array of deposit and withdrawal options including Visa, Mastercard, Skrill, Arangepay, and Neteller.
There were numerous malicious claims circulating online pertaining to Lexatrade scam. According to some customer reviews, Lexatrade is a dishonest broker and it had fraudulent schemes, getting its clients’ funds. As of writing, there is no truth behind these claims as Lexatrade was not faced by any legal sanction for any illegal activity.
Some traders are even fully aware that Lexatrade was plagued with bad customer reviews and maligning statements. However, there are some Lexatrade clients who testified against the accusations. Below is a Lexatrade review from its current trader and here is what he has to say about the broker:
“I have been working with this LexaTrade broker for six months now. I learned about the company much earlier, but I came across a network about the negative about it. I read in the comments on one forum the information that «LexaTrade fraud», fraud, etc. Therefore, I was afraid to open an account there. Then he learned from a friend working with this company that all this is complete nonsense. As a result, I opened an account there, on which I have been trading for six months. In principle, everything suits me. The platform works stably, occurs smoothly and quickly. What else is needed for profitable trading? I recommend this company to everyone.”
Anatoly, 32 years old, is from Moscow and is one of Lexatrade’s active traders. In his Lexatrade review, he narrated how he ended up opening an account with the broker despite learning about the negative remarks and bad reputation of the broker. He dispelled everything he heard about the broker and decided to give Lexatrade a try. Upon using the broker’s trading services, he proved others wrong and that Lexatrade has an honest brokerage service to its clients. He went on by commending the broker’s platform and recommends the broker to everyone.
In the above segment, we heard the side of some traders who attest to the broker’s honest service. This time, let’s look into the broker’s legal documentation that stands as its clients’ protection against fraud and money laundering.
With these various means of countering conflicts, client disputes, and other possible concerns, it doesn’t take a genius to understand that Lexatrade protects its clients and is not into some fraudulent activities. Lexatrade fraud is as a hoax unless the broker is guilty as charged.