Lexatrade Review: Is Lexa Trade a Scam Broker?

Now daily some 10 people call me to start trading and if I say I am not interested they wont le t me go. Assuming you deposited $100 and lost 60% of the funds and attempted to withdraw $40, Lexa Trade broker would never process such withdrawal request. Brokers Complaint is one of the best recovery agencies specializing in Lost Cryptocurrency funds recovery. We also help victims of Forex frauds, Binary frauds, Investment scams, Pension frauds and many other types of scams. Also, scammers, as you read in this ASR review, are famous for not withdrawing your money.

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There are no reviews or feedback at all regarding the services offered by this broker. Traders are advised to avoid brokers who charge unnecessary fees for the use of their services. Brokers Complaint can have advertising and affiliate relationships with some of the trusted recovery companies and may be compensated through them .

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A bunch of cheaters who have looten thousand of ppl till now n this may be ascertained from the reviews. They make false promises and convince you to invest money with a minimum amount of $250 once u visit the site. They will do registration before even u cud understand them. N then…u r trapped… B sure ..ur money is gone within days… I lost my 250 dollars within night. At the start they will tell u that they give 100% Insurance over the capital amount bt it’s big lie… They won’t give u even a penny. N even u earn or make money from this platform, they will not let u withdraw money till u lose all ur money… There r lots of if n buts wen u wish to withdraw.

lexatrade owner

LexaTrade claims to offer the tightest spread in the industry. They even tout a variety of stocks for trading claiming that this will spread the potential risk involved in stock trading. It should be made clear that Lexa Trade does not hold an individual broker license. On the other hand, the company under which they rely on seems to be overseeing several other entities which provide financial services under one license owned by SwissOne Group Ltd. Only SwissOne Group Ltd owns a license from the IFMRRC. This license was issued exactly one year after the launch of LexaTrade broker’s website.

On request for withdrawal of USD 400, I was advised to open a del in sell segment of Natural Gas with USD196 than my entire balance gone negative. Even the personal manager engaged for help do not bother for small traders. Brokers Complaint is always trying to find different scam brokers present in the market as well as the new emerging scam brokers to warn traders.

LexaTrade Review Warning Signs – Why LexaTrade is a scam broker?

A trader, before investing, should research about the broker’s regulation and license. If the broker doesn’t hold any license, then there must be a risk of scam. License is the most significant thought while choosing a merchant. Firstly, guarantee the license is from a reliable controller and not one who gives a license to any individual who pays a charge. Legitimate specialists might have the option to accomplish something, yet controllers can remove the license from trick intermediaries. This broker offers a balanced mix of functionality and user-friendliness.

And besides, if you really want to do advanced technical analysis, LexaTrade offers Meta Trader 4 so you can have the best of both worlds. You would be forced to top up to the minimum of $50 before placing a withdrawal request. Also, if clients don’t have a significant trading volume yet, the company intends to charge a commission of 5%. The minimum deposit is $250 and the available methods are Visa, CryptoWallet and e-Payouts; the processing time is not specified. Information about withdrawals is missing and this should be addressed by LexaTrade. All we could find is that withdrawal processing takes up to 24 business hours and that a representative will contact the client in order to complete the processing of the withdrawal.

  • On the other hand, the company under which they rely on seems to be overseeing several other entities which provide financial services under one license owned by SwissOne Group Ltd.
  • Click the following links to hear the behavior of the executive’s in lexa trade.
  • They are scamsters hiding in remote offshore islands with no law and order.
  • Today my balance was USD821 and free Balance was more than USD550.

Sir / madam in this regard I searched the company address of India. Also I am drafting email to send my complain to SEBI, RBI and IT dept. They are scamsters hiding in remote offshore islands with no law and order. They encourage you to extract maximum amount from you and then open deals conveniently to bring you down to “ALL RED” and refuse to return a single penny.

Overall this is a promising broker but a few tweaks here and there would make it a better one. Lower deposits, more information about deposits and withdrawals, a basic FAQ, and a demo account are just a few adjustments that would go a long way and would make LexaTrade a higher-tier broker. That being said, they are very new at the time of this review, so there is time for improvement.

LexaTrade Broker Withdrawal restrictions

If you have been drawn nearer by a trick firm, then, at that point, contact Brokers Complaint to get fund recovery. Many fraud forex brokers or other scam brokers are working under fake organization names or other deceitful activities. A fundamental examination can go far in securing you and your accounts. Managing financial firms approved or enrolled by legal authorities gives you more prominent assurance assuming things turn out badly.

lexatrade owner

There is no fee to open an account and the fees for deposits and withdrawals are not specified anywhere on the website. There is no mention of an inactivity fee but we cannot guarantee that you won’t be charged one. Live chat support was available at the time of our visit but a bit slow to answer. This is mostly the case when a broker buys a white label from a company that offers MT4 trading platform for renting. The most commonly used trick that scammers follow is offering a high bonus. They offer appealing returns that may look promising and attractive and make you invest in that plan.

LexaTrade Review: High Bonuses and Withdrawal Issue

Click the following links to hear the behavior of the executive’s in lexa trade. Lexatrade customer service is bad, the account managers are irresponsible please becareful to use them, they are so frustrating. Since they lexatrade owner persuade to open account, after I do know of them attend to my email again. LexaTrade broker is essentially saying that they will only give you your profit when you have attained their required volume of trades.

I did not notice any problems with this broker, with the exception of sales managers. Yes, if you can send your platform chart trading with them, it will be easy and please try sending your email also, so we be able to reach you easily. Yes, if you can send you platform chart trading with them, it will be easy and please try sending your email, so we can reach you easily. We would like to see some real feedback from traders to even think of trusting Lexa Trade broker.

This does seem like a friendly broker, but I am not sure it’s the best choice for a total beginner, simply because the lowest deposit to open an account is $250. Many regulated brokers allow $50 and even $10 as minimum deposits, so maybe you should pick one of those. On the other hand, if you are confident in your abilities and $250 is not a lot for you, then LexaTrade may be a good choice.

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In a few weeks, we managed to increase the deposit by 15-17%. This is taking into account my caution, I don’t buy everything in a row, I carefully monitor the news. The overall structure https://cryptolisting.org/ of the accounts at LexaTrade is too expensive in my opinion and putting a $10,000 barrier between the trader and MT4 means that the majority of clients will not use this platform.