Withdrawals are always slow and I am not getting profit from the signals. Get the latest economy news, trading news, and Forex news on Finance Brokerage.
Our Lexatrade review also shows that traders need not pay any commission fees on deposits or withdrawals. There are three account types offered by Lexatrade that you can try to trade the most popular assets 24/5. Lexatrade also offers a demo account that lets you learn about the broker without using real money. Every account opening has a unique fee structure and trading platform. For more experienced clients who like to trade with the order book or liquidity, CTrader is offered.
Lexatrade is an Australian forex broker established in 2007 and regulated by ASIC, CySEC, FSA , and FSCA. The general educational videos are very high-quality. However, these can only be found on Lexatrade’s Vimeo channel, they are not available on the website or the trading platform. Relevant content can be found in the ‘Education’ section and the Lexatrade blog.
I did not trust them and so I closed my account. I feel like I know more than their so-called brokers and account managers. I am not even sure if these really license brokers or just random salespeople.
The live chat support is very helpful but the unavailability of local Nigerian phone number is a disadvantage to the traders in Nigeria. To open an account with Lexatrade, prospective clients have to fill a form. The first step is to fill out personal details such as names, address, email and phone numbers. Login details are sent to the client’s specified email address.
Does Lexatrade Have Negative Balance Protection?
The MetaTrader works flawlessly and gives you direct access to the markets. Moreover, if you are willing to go into the partnership with the broker there is an offer by MAM and PAMM multi-account management systems that are flexible and easy to use tools.
Here is the step by step process we used to open an account with the Lexatrade FSA of Seychelles regulated entity. We found opening an account with Lexatrade was a fast and simple process. In fact, it took less than 4 minutes to open a Standard Account. Everything is done digitally so you can be up and running in just a few minutes. For example, opening an account in Europe or Australia would mean the broker needs to comply with leverage restrictions imposed by the regulator . Lexatrade does not provide services to residents in the United States, Iran, North Korea and some other regions.
Lexatrade automatically stops all positions with 50% margin overstepping. So you should be protected under normal circumstances. Lexatrade offers free extensions for the software in the form of plugins. These can be easily downloaded and then inserted into the software. This includes, for example, a tick chart extension or additional indicators.
Traders are also provided with a free and unlimited demo account, forex calculators and a forex news calendar. There are also swap-free variations of these accounts to cater to traders of the Islamic faith. D) There are also mobile lexatrade reviews platforms which are MT4 platforms for the various types of smartphones and tablet devices. Lexatrade offers a wide variety of tradable instruments in the Forex, indices, stocks, commodities and cryptocurrencies markets.
I have personally been in contact with Lexatrade support probably over 50 times over the last 5 years. PublicFinanceInternational.org helps traders and investors, from around the world, navigate the complex world of online brokers. We spend thousands of hours a year, both researching and testing brokers, to give you unbiased and extensive reviews.
The MetaTrader platform is one of the most popular forex trading platforms and it comes with many advantages. One of them is the big trader’s community at the websites like mql5.com where you can find many resources like indicators, scripts, or expert advisors that can help your trading.
Lexatrade: Customer Support Review
Lexatrade is regulated by the ASIC , FSA , and CySEC . It is an independent institution of the state government agency. Customer money transactions are conducted by National Australia Bank and Westpac Banking Corporation . These are both top international banks that have high liquidity. In addition, Lexatrade uses external and independent auditors lexatrade forex brokers reviews who control the broker. Lexatrade strives to offer not only the best technological solutions but understanding the necessity of good quality customer service and support. The broker support available 24/7 and runs customer offices in various regions, so that all global is covered with Lexatrade available to answer or assist teams.
Check out below our in-depth review of Lexatrade which can help you decide if Lexatrade is the right forex broker for you. Yes, there are things that we think they can improve, but these can easily be worked on.
Our Conclusion: Lexatrade One Of The Best Ecn Forex Brokers
You will pay no commissions and a low spread. The funny thing here is that it is cheaper to trade CFDs on Lexatrade than buy the real currency on an exchange. Mobile Apps are also available and are very useful for modern traders stay updated with market conditions on the go. Likewise, MT4, MT5 and cTrader are available via Android or iOS devices, also permitting account management and control over the positions. Leverage is known as a loan given by the broker to the trader to enable trading with a bigger capital and increase potential gains. The execution brings speeds and low latency through fiber optic connects traders orders to the market by servers in the NY4 & LD5 IBX Equinix Data Center New York and London.
- These are also over 6 years old so they definitely are in need of an update.
- However, some of the tools are only available on the MetaTrader platforms.
- The mobile app is the easiest platform to get started with.
Despite this though, there are some regions that they do not provide their lexatrade broker reviews services to. These include the Unites States, Canada, Israel and Iran.
You can also take a deeper look at the reviews for the MT4 and MT5 mobile apps in the iTunes store and the Google Play Store. They are all above 4.5 stars and most of the traders are quite complimentary.