FCA license and FSCS registration are two of the broker’s strongest features. The classic account has advantages about minimum deposit and spreads. The Pro account also offers a highly advantageous and competitive spread. If you are going to use a pro account, I recommend you open an account at LexaTrade. Finally, LexaTrade is a reputable broker who has various product portfolio and effective trading conditions.
LexaTrade does not charge fees for deposits starting from US$5000 or its currency equivalent. It covers transaction fees up to US$100 if traders email copies of their bank statement or any other supporting document within 30 days of making the deposit. You may make a lot of money but, you risk losing your investment.
LexaTrade is a MetaTrader-only broker offering the standard, out-of-the-box experience, for just MT4. Unfortunately, there are no notable add-ons, besides Autochartist, to help LexaTrade stand out among the best MetaTrader brokers. Finally, VPS hosting is available at LexaTrade and is useful for algorithmic traders using MT4. Founded in 2014, LexaTrade is regulated in one tier-1 jurisdiction and two tier-2 jurisdictions, making it a safe broker (average-risk) for trading forex and CFDs. Once your account is registered, and your email address is verified, you will first need to provide certain documents before you’ll be able to make a successful deposit. LexaTrade requires a copy of your identification documents and a copy of your utility bill as proof of address registered on the site.
LexaTrade Overall Performance
You want to get in when you click buy or sell and get out when you click close. You should keep in mind that your gadgets – computer, laptop, phone, internet connection – all play a big part lexatrade broker reviews in determining your trade execution speeds. The Pro account has a commission of $4 per lot round-turn. LexaTrade has spreads average spreads 0.1 pips on EURUSD and 0.3 pips on GBPUSD.
LexaTrade is mainly a forex trader, as shown by the products it offers. Currency traders have increased exposure to their target market with the availability of 62 currency pairs. The 62 currency pairs give forex traders a diverse range of trading opportunities. In the past, the brokerage firms did not pay much attention to the variety in account types. Mostly because there was no need for that, as most of the traders had similar trading strategies and trading was considered a privilege, so no need for budget-friendly versions of the accounts.
Trading Leveraged Products like Forex and Its Derivatives might not be suitable for all investors as they carry a high degree of risk to your capital. Please make sure that you fully understand the risks involved, taking into consideration your investment objectives and level of experience, before trading, and if necessary, seek independent advice. A market maker broker speeds up trading as a market maker will purchase your stocks and commodities even if a buyer is not lined up.
Comparison Of LexaTrade With Other Brokers
According to different customers, their overall trading experience was improved after they reached the customer service support of LexaTrade. The customer service response time and relevant answers that followed were all very helpful, making the client feel more in touch with their broker. The human touch made a big difference with the customers, which led to an improvement in their trading experience and general feedback towards LexaTrade. LexaTrade has satisfying customer service staffs, which is why LexaTrade currently has 166,000+ satisfied clients. The customer service is available via phone, email, live chat, and you can send an inquiry form.
With the Pro Account, you are charged with a commission of 2 per side per 100,000 traded. Finally, in the VIP Account, you are charged with a commission of 1 per side per 100,000 traded. LexaTrade provides the option of trading on-the-go, and you can also day trading place different order types simultaneously. However, there is a limited range of financial instruments and narrow access to financial markets. Along with limited access to financial markets, you will find that there is no 24\7 customer service available.
Lower Fees, Lower Costs?
Before opening a main account, a customer of LexaTrade can familiarize himself with its terms and possibilities and evaluate the functionality of the platform and the services provided on a demo account. The broker offers to use the classic MT4 trading platform for trading, as well as the web version of the trading terminal. The deposit methods available on the site include Bank Transfer, Visa, Mastercard, Skrill, Neteller, Fasapay, UnionPay, Nganluong.vn, Qiwi Wallet, and Globe pay. Each of these payment methods will require a minimum deposit of $100. There’s also no additional charges or fees on making a deposit and funds will reflect instantly on your LexaTrade trading account once your deposit is successful. Traders can look forward to exotic, minor, and major currency pairs where the standard lot size is usually 100,000 currency units along with zero limit and stop levels when it comes to forex trading. Traders will also appreciate the functionality of the user-interface as its easy to navigate and extremely smooth to ensure an uninterrupted trading experience.
In LexaTrade opinion we also examined the trading platforms that the broker supports and provides for its customers. As most of the Forex brokers actually decide, LexaTrade also went for MetaTrader 4. MetaTrader 4 is considered to be the best Forex trading platform. The software was designed specifically for Forex trading and traders with a lot of convenient features and various control mechanisms. However, MetaTrader 4 software needs to be downloaded and installed on the PC of the users. For some people, it is not that convenient due to that reason. Therefore more and more brokers began to introduce more user-friendly and simplified platforms for trading.
Click Here To Open Account LexaTrade
A reward of either $200 or $500 is deposited into the trading account of the winner of the NFP Machine contest held each month during NFP week. New trading accounts may be given a $30 deposit that cannot be withdrawn, but any profits earned are kept by the traders.
If you educate yourself, practice with a demo account, and carefully plan your trading, your chance of success will significantly increase. LexaTrade was founded in Seychelles in 2008 and had been facilitating trade on the financial markets for over 13 years. LexaTrade offers clients Forex trading, Spread Betting trading, CFD trading, Social trading, and trading. All funds deposited to LexaTrade have been held in segregated tier 1 bank accounts for security. LexaTrade is regulated by Financial Conduct Authority , so it can be considered legit. The MetaTrader 4 WebTrader platform allows you to access the markets online directly through your web browser. The WebTrader trading platform through LexaTrade makes trading more accessible as the MetaTrader system is available directly in your browser.
I Have No Opinion About This Company
Authochartist uses advanced technology to analyze past market trends and identify real-time trading opportunities across a wide lexatrade forex brokers reviews selection of CFD instruments. MetaTrader 4 is the first and most popular trading platform developed by MetaQuotes Software.
- This LexaTrade review provides data on the different trading tools and market research material provided by this CFD and Forex trading broker.
- This is one of the most comprehensive forex trading tools that can add some value to your trading.
- When the account balance reaches $50,000, LexaTrade upgrades the account to the VIP account.
- Always trade with a broker who provides the platforms and tools you are most comfortable trading with.
- If none of the participants guess the exact price, then the closest guess author receives 200 USD in his or her trading account.
- WebTrader is a trading platform that makes trading as simple as possible.
The customer service department makes up for the two-day weekend by providing relevant answers and offering different languages. LexaTrade provides a degree of risk management to improving trading conditions. The range of educational resources and research-based features helps you to improve your trading ability on a demo account before testing your skills with a live account. These tools are a form of risk management as they ensure you understand the nature of trading before getting started. If an account falls below a zero balance, LexaTrade will cover the debt by providing Negative Balance Protection.
This LexaTrade review will inform you of the different means of communication that allow you to reach the customer service staff of LexaTrade. This LexaTrade review will demonstrate an analysis of all the different features that this Forex broker can provide. Keep your trading costs down with competitive spreads, commissions and low margins. View spreads on our most popular cash instruments below.
This can limit your ability to spread your risk through investment diversity. FCA and CySEC regulations are tighter than most regulators in other countries require. However, if you are in the UK or Europe, you may be eligible for a Professional account which will allow you to access leverage in line with LexaTrade clients in other regions. Copying transactions on LexaTrade is an efficient way to supplement your revenue.
You can open a demo account from the broker’s homepage. Accepted payment methods include bank transfer, Visa/Mastercard, Skrill, Neteller and QIWI. The minimum deposit for Classic and Pro accounts is $100 and for a VIP account, it’s $5,000. LexaTrade offers three types of accounts for their clients, they are Classic account, Pro account, and VIP account, the last one accommodating users willing to invest serious funds. All the accounts are well suited for the beginner and expert trader.
LexaTrade Forex broker allows all strategies, including EAs, hedging, and scalping. The trading conditions applicable to the instruments vary according to markets and individual products, as well as on the type of account that the trader holds.read more