SiriusLexaTrade Reviews

Respectively, with an open position, you can either gain USD 6.16 per day or lose USD 6.16 per day, as the rollover calculated as an interest to borrowed currency or earned on the purchased currency. Besides to its good features, LexaTrade makes trading more pleasant by a huge variety of products so you will enjoy a great choice that meets expectations and preferences. On the other hand, LexaTrade has limited portfolio for EU clients, and outside EU clients there is no good investor protection.

LexaTrade reviews

We think that the range of account types offered are realistic, easy to use and understand, and good value. Too often in the retail Forex / CFD industry, account type classifications are made unnecessarily complex for marketing purposes. It is admirable that LexaTrade seem to have refrained from doing this and are instead looking simply to give their clients what they want and need.

LexaTrade Rating & Review

But you need to know PayPal accounts are not supported currently as they are problematic for a few. Even though it has strong customer support, but a few users are not happy with their service as it is available only from Monday to Friday. The style account also seems to feature a competitive fee structure at an exceptionally low minimum required deposit. Almost all withdrawals are processed within a day, and you don’t have to pay anything extra to money out of your eWallet. LexaTrade is available on a plethora of Android and Apple devices.

LexaTrade reviews

Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information. When opening a trading account with LexaTrade, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on LexaTrade trading platforms here. You will need to provide some basic documentation to prove your identity as part of LexaTrade onboarding and normal KYC identity checks. These checks are standard practice and help LexaTrade provide a safe financial environment for their 3,500,000 users. Dont be scared off by brokers like LexaTrade charging a minimum deposit to open a trading account.

LexaTrade Withdrawal Fees And Options

Brokers who conduct business without regulation pose an immediate risk to the security of their client’s money. Regulated brokers will not manipulate forex market prices. When you send in a fund withdrawal request to LexaTrade, this will be honored. If they violate any regulatory rules, their regulated status can be stripped. LexaTrade was founded in Cyprus in 2009, and they have been facilitating trade on the financial markets for over 12 years. All funds deposited to LexaTrade have been held in segregated tier 1 bank accounts for security. LexaTrade is regulated by International Financial Services Commission , Cyprus Securities and Exchange Commission , Australian Securities and Investments Commission , so it can be considered legit.

This helps the broker appeal to those all over the world and of any skill levels. LexaTrade also has 16 full-feature trading platforms for clients to choose from.

  • The commission-based LexaTrade zero account spreads on average at 0.1 pips.
  • LexaTrade Group monitors the latest industry trends to keep up to date with the latest innovative technologies and to be able to adapt to clients ever changing and demanding needs.
  • Choosing a Broker that offers very few Payment Methods may make it harder as well as more expensive to deposit.
  • Market makers typically have lower minimum deposit, smaller minimum trades requirements and no commission on trades.
  • Although high risk because CFD trades are separate from the financial markets, a CFD trade can be more flexible than a traditional market trade where you own the underlying asset.
  • As an added bonus, the customer service support provides over 30 languages, so there would not be any language barrier throughout the interaction.

Another drawback of this trading platform is that there is no diversity in accounts, as the traders don’t feel that they get any personalized account. The last type is the zero account, and they require a minimum deposit of $10. Then there is the third type, known as the ultra-low account; under this type, traders have to pay $50 as a minimum deposit. When it comes to the demo account offering, it is said that LexaTrade is most likely to excel in it. With just a few details, users can set up a demo account with LexaTrade To start with trading, LexaTrade offers a virtual balance of $100,000USD. If you have a Micro or Standard account at LexaTrade you will have access to LexaTrade’s in-house team of analysts. In the research section of your membership area you have access to the latest stock market news, cryptocurrency updates and technical analysis.

What Trading Platforms Can You Use With LexaTrade?

The broker has an impressive 16 trading platforms with over 1000 trading instruments across 6 asset classes and various convenient funding options. The popularity of mobile trading did not go unnoticed at LexaTrade, which offers mobile apps for the MT4 and MT5 trading platforms for Android and Apple devices. They operate on mobile phones and tablets, provide full MT4/MT5 functionality, support three chart types and 30 technical indicators. Real-time interactive charts and built-in market analysis tools exist. Despite millennial traders favoring mobile trading apps, committed traders use them only to monitor portfolios. Given the limited screen space, profitable traders conduct market research, technical analysis, and portfolio management on the desktop client or the web-based alternative. LexaTrade provides the necessary links to Google Play and the App Store for the swift installation of the desired mobile trading apps.

LexaTrade reviews

Although MT4 Multiterminal is technically a variation of MT4 for LexaTrade, it has additional functionality. This platform is specifically designed to let traders handle more than one MT4 accounts from a single terminal. Spreads on this platform start ICO (cryptocurrencies) at just 0.6 pips and there is the option of micro lots. Clients of LexaTrade have access to either MT4 or MT5, both of which are popular MetaTrader platforms. They are available across devices and you can trade via the LexaTrade WebTrader in the browser.

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. LexaTrade provides live webinars and educational videos that will give you all the guidelines and instructions you need to understand the trading service provider and how it works.

The company also takes pride in offering exceptional customer service. Additionally, there is no time restriction on how long you can trade on this virtual trading account. With over 1,000 instruments, including more than 50 forex pairs and cryptocurrencies available, LexaTrade offers way more instruments than most online brokers. Although LexaTrade is a MetaTrader-only broker, the broker also offers iOS and Android versions of it’s trading platform.

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Though LexaTrade made the software even more advanced and suitable through 16 Trading platforms, which cater just any device including web, mobile, and even multiple accounts trading. So you get full account functionality and make the trading process at ease and comfort if you select the Desktop platform or other versions to trade. TO withdraw funds from your LexaTrade trading account you should simply follow next steps, also never hesitate to contact customer service in case of any questions or terms.

LexaTrade reviews

LexaTrade safeguards the personal information of its clients through SSL encryption in its PC and mobile platforms. LexaTrade also urges its clients through its web platform to always look for the SSL security sign o the browser while operating LexaTrade. A brokerage may make most of their revenue from charging registered traders a commission fee on client transactions. Brokers may have certain trading activity requirements that under the terms and conditions of the accounts, clients may have to fulfill. An account inactivity fee is a fee charged to the registered brokerage client. The whole notion of regulation is to protect LexaTrade traders and provide a safe trading environment. We have checked and LexaTrade is regulated and supervised by reputable organisations.

LexaTrade Trading Tools

LexaTrade Group have a micro and standard account that charges no commission fee but adds a small spread mark-up. The LexaTrade Zero account has no spread mark-up and a small commission charge of just $3.5 per $100,000 traded. LexaTrade aim to complete all withdrawal requests within 24 working hours. When you make a withdrawal request, this will show in your trading account as a pending withdrawal.

Retail clients registered with the CySEC regulated LexaTrade subsidiary are covered by the Investor Compensation Fund . Cyprus’ ICF ensures that if a CySEC regulated broker becomes insolvent and cannot return funds owed to a client, the trader can claim up to €20,000 as compensation. Similarly, in the United Kingdom, under the Financial Services Compensation Scheme , those trading with FCA regulated brokers are provided up to £85,000. Spreads for the Micro and Standard Accounts are the same. In the table below you will notice that the Micro and Standard accounts fare poorly when compared with other brokers. We aim to provide unbiased online trading broker reviews to give traders a clear understanding of the different brokers available to them. Traders can use our free service but should do their own due diligence and make their own decisions when choosing an online trading broker suited to their individual needs.

LexaTrade reviews

It also provides international aid by working with international and local human aid foundations that lexatrade forex brokers reviews are active. LexaTrade strives to offer a range of learning opportunities for traders of all skill levels.

LexaTrade reviews

There are four main trading accounts for traders to choose from, with different perks and different features that are standardized based on the trader’s preference. Along with the four trading accounts, there is always the possibility of using a Demo Account to get you started. This gives LexaTrade the opportunity for clients to keep their status for more than the allotted hours that are commonly provided.

MetaTrader 4 also known as MT4 is the number one trading platform on the planet and has been in active use on financial markets since 2005. lexatrade forex broker Charting functionality and advanced order management tools make certain you could monitor your positions quickly and economically.

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