There is no broker who would have ideal conditions for experienced or novice traders. The task of a beginner is to choose a company that would give access to markets of interest with a minimum starting deposit, would not delay the withdrawal of money, and would not manipulate quotes. In this LexaTrade review, we will try to determine whether it is worth investing in LexaTrade or if LexaTrade lie, and you should look somewhere else.
Choosing the Best Broker: Mistakes to Avoid
Before you check one Forex Review after another to understand which Forex broker to choose, determine your requirements for it. Beginner traders often make the following mistakes:
- Do not consider their needs when choosing a company. For example, the best scalping broker would not be the best choice for investing in the stock market.
- Investing all money at once. Take your time, work with a small amount for at least a month, explore the platform, strategies, etc.
- Trading and investing without preparation and understanding of basic principles of market functioning. Afterward, they might write articles about why Forex is a scam and why you should not choose one or another broker.
All the above seems obvious, but beginners do regularly make these mistakes.
LexaTrade is a broker that belongs to the Swissone Group Ltd. It is formally registered in the country of Saint Vincent and the Grenadines, which is located in the Caribbean Sea. Its activities are regulated by the IFMRRC (Financial Market Relations Regulation Center). LexaTrade official site started operating in 2018. It offers its services on the British, Spanish, German, and Polish markets.
LexaTrade broker provides for the trading of shares, indices, commodities, Forex, and more. According to LexaTrade customer reviews, new traders like the availability of trading videos and helpful customer support. More experienced investors appreciate the advanced trading calculator and the extensive statistics base, which is updated regularly.
To register on the LexaTrade site, you first need to go to the lexatrade.com site and click on the Register button at the top right corner. Next, you will create your LexaTrade login and enter some basic information. Then, you will confirm your account and can make your first deposit and start trading.
What can you invest in with LexaTrade?
You can invest in potentially highly profitable instruments that naturally also involve increased risk. These include the Forex market, futures contracts (e.g., for metals), cryptocurrencies, or shares of the most popular companies from around the world. The broker’s offer also includes investment proposals for more predictable financial instruments. These include the investment fund (ETF), raw materials, and bonds issued by governments and corporations.
Should you trust LexatTrade?
If you search for reviews about LexaTrade, in addition to positive, you can find some negative reviews that say LexaTrade cheat, and it is a fraud. Is LexaTrade a fraud as they say? If you look closely, the style of reviews about LexaTrade is identical in many reviews. This is because most reviews are not true but were ordered by competitors.
Competition on the Forex market is fierce, and every broker uses its own methods to get ahead. So, reviews are often written under the same IP address within a short period of time or even on the same day and, most often, on forums where there is no moderation.
Another sign that LexaTrade scam is not true is that this broker is registered and regulated by an Independent Financial Market Relations Regulation Center. The commissions here are also simple and transparent. For example, LexaTrade has a 5% account maintenance fee if the user has been inactive for more than 90 days and a 5% service fee if the user has not made more than four independent transactions in a month.
LexaTrade Customer Reviews
“I am very cautious about this type of advertising on the internet, but the LEXATRADE platform was advertised by Robert Lewandowski and I thought that this is a guy whom you can trust. I have traded for 2 weeks. Considering the fact that the platform works only on business days, after depositing $250, my capital increased by about 130%. I think it is quite good. I would like to thank my adviser, who helps me make the right decisions. I highly appreciate her knowledge of trade. To sum up – I recommend trading on the LEXATRADE platform.”
- Janusz Biniek
“Since I am not very experienced in trading, I am trading with a robot for now. There are times when I get losses, but in general I earn $15-20 a day. As a passive income, it is ok for me. I made a withdrawal once a month. I got the funds quickly, which makes this broker even more attractive. Sometimes it’s difficult to contact an analyst, but they always call back.”
“My very first broker and I made the right choice. I deposited a minimum amount and began to trade. At first, I didn’t understand much and the manager’s consultations as well as LexaTrade training videos helped a lot. The withdrawal of money is also not straining, everything is exactly as in the withdrawal instructions.”
- Luis K.