WIKIFX REPORT: LexaTrade: Getting Into the Meat of an Honest Broker-News-WikiFX

It is registered in Saint Vincent and the Grenadines which makes no sense. Lexatrade has provided very less information about its organization. It is registered in Saint Vincent and the Grenadines , a kingdom of thousands of shell companies.

  • In addition, he or she had also brought the capability given to LexaTrade users to trade without any restrictions.
  • For example, I chose the futures, because of the adjustability of this market.
  • It is not the place to put any money that you cannot afford to lose, such as retirement funds, as you can lose most or all it very quickly.
  • I know where the office is located, and where your account manager stay’s.
  • Yes, trading with Lexatrade is a fraud/scam cheating making fool of small investors/traders by misguided by the staff insisting for more money deposit for stock trading.

Over time, it has grown and developed advanced trading solutions and a variety of financial instruments, becoming a well-known online brokerage brand. Which forex trading broker is the best or safest to trade with if am to borrow money from friends/bank to start?. Please dont invest your hard earned money with They will finish you with calls until you give out your money after which you will start begging them but they won’t listen. Now – I’m looking for an answer to why this happened, and after consulting with Lexatrade, I know it’s a scam. It’s time to tell people the truth – Lexatrade is the sister of many Scam companies registered on St. Vincent and Grenadines.

The company is regulated by CySEC, boasts a top-notch, high-speed trading platform with 170+ assets and six types of instruments. LexaTrade offers step-by-step training and is always ready to provide prompt support and Currency market solve any issue within the shortest possible time. Since its founding, the broker has managed to prove its competence, establish a reputation, and win top positions in various ratings. You can get acquainted with LexaTrade by opening a free demo-account or starting on a real account with smaller sums of money to get the feeling of the real market.

LexaTrade brokers have their own mobile app as well, which actually is highly rewarded by traders and publications as well. You can safely trust LexaTrade with your money because they are regulated by the CySec. In addition, they are based in Germany and also regulated in other European Union areas. For this reason, they are popular among both newbies and experienced traders. The live trading feature can be activated once you are comfortable with your strategy, after testing it with the demo account and backend feature.

The foreign exchange market, or Forex, or simply FX has been growing in both interest and size in North America since the last decade. They have their own Web trading is lexatrade legal in india system, as well as a trading app. If you’re more interested in owning the actual underlying asset of the cryptocurrency, you might want to consider crypto mining.

The basics of Forex trading

At a glance, it seems amazing platform and opportunity to earn trading profit with LexaTrade experts. As per LexaTrade conditions, if the referred client makes a deposit between $500 to $10,000, then 50% of it will be the referral bonus. LexaTrade Accounts & PricingEach account type comes with its own set of perks, with the higher account types offering the best perks and benefits. On that day the positions should have been SELL and they suggested BUY. They had a good idea of the balance in the account and that their suggestions will definitely lead to finishing every penny in my account balance. Please stay away from these scammers which keep growing with no ending in sight.

is lexatrade legal in india

This is different compared to other countries, as most international Forex trading activity is conducted electronically/online. In India, however, it is only permitted and considered legal when conducted through specified Forex trading places with the base currency being INR. For clarity, this simply means that trading in the country is only permitted for currency pairs that are benchmarked against the INR. This is believed to have been implemented after the RBI’s circulars that were publicised in 2013.

Unlimited LexaTrade Demo Account

All information should be revised closely by readers and to be judged privately by each person. I have been working with Lexatrade since the summer and have withdrawn money 3 times during this time. I did not notice any problems with this broker, with the exception of sales managers. Lexatrade customer service is bad, the account managers are irresponsible please becareful to use them, they are so frustrating. Since they persuade to open account, after I do know of them attend to my email again. The only extra worth mentioning is the Autochartist which is available right on the trading platform and is free of charge.

We unbiasedly review every broker and rank them based on their market standing, regulation, and other factors. Reviews are updated regularly to ensure that every trader has the most up-to-date information before making a choice. The platform offers a long list of trading instruments, is regulated and most importantly, is not a scam.

Similar to other brokerage firms, LexaTrade has its own set of benefits and setbacks. Below are some of the perks that clients will surely enjoy. The truth is, Warren Bowie & Smith is not under valid regulation by any regulators to do forex. Investors’ funds in this broker are unsafe and cannot be protected by any law. Trade 5,500+ global markets including 80+ forex pairs, thousands of shares, popular cryptocurrencies and more. LexaTrade accepts international traders but not from everyone country in the world.

NewsWIKIFX REPORT: LexaTrade: Getting Into the Meat of an Honest Broker

You can join us today by completing a registration form on the website and wait for an approval email. The Bitcoin Era app delivers precise trading signals, thanks to its advanced algorithm. The algorithm allows it to accurately analyze the leading live data trading indicators and use them to your advantage. In this way, fundamental and technical analysis are made easy and profitable for traders. As interest, demand, and the FX industry for Forex brokers grow over the years in Canada, so makes its regulations. Regulations are compulsory as they prevent scams and fraudulent actions from occurring.

Meanwhile, the USD , EUR , and GPB are some of the fiat currencies you can trade with the software. Bitcoin was the first digital currency to be introduced to the world and this happened over a decade ago. While Bitcoin was the first to go live, there were previous attempts to launch digital currencies in the past. The high-end security comes from using the latest safety measures.

is lexatrade legal in india

“I deposited $65,170 (Rs 53.8 lakh) on February 13. After this, all of the people who were in touch with me disappeared and my trading balance on the website remained at zero,” the complaint read. Kumar convinced the retired official to invest $250 on a trading website called Lexatrade, which – the complaint said – looked “authentic” and “professional” with a London address.

How To Open An LexaTrade Account?

At first, you are directed to a bot, however, you can lexatrade reviews quickly be put through to a competent live agent who responds within seconds. While this does mean it may take time, the advantage is that it comes at no cost to you. Email support is contacted via a form on the website and is useful for more detailed enquiries, however, it is naturally the slowest point of contact.

There are just so many frauds amongst brokers that an honest one, albeit one with poor trading conditions, is somehow very welcome. So, unless you deposit at least 3 grand, you’re stuck with the basest of basics of trading. Therefore, you can already imagine what help limit orders can be in your trading career. A standard account is available to more experienced traders.

And has global presence with headquarters at Beachmont Business Centre, Suite 39, Kingstown, Saint Vincent and Grenadines. Moving forward with this LexaTrade review, we will further discuss the platform’s fees, platforms and account types. Lexatrade offers personal account managers to its users and they help in trading. Lexatrade charges a spread on trades, which is the difference between the buy and sell price of a financial instrument.

I have been working with LexaTrade broker for six months now. I learned about it much earlier, but I came across negative info. I read in comments on one forum the information «LexaTrade scammers», fraud, etc. Then he learned from a friend trading with a LexaTrade broker that all prosecutions are complete nonsense. As a result, I opened an account there, on which I have been trading for six months. Trading platform works stably, occurs smoothly and quickly.

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. Instead, it is a unique automated trading platform for cryptocurrency traders that consistently delivers results. As a result of this accuracy rate, the Bitcoin Era is the best available software in the crypto market. The Bitcoin Era software is the product of traders and software engineers with years of experience in the financial markets. We always work on making the software better so more people can earn money using it.

Although FMRRC is an independent self-regulatory agency which was created to provide a level of regulation for derivative dealers and brokers. It has no connection to any official regulatory body, and has very few legal powers with regards to regulating FMRRC regulated brokers. I have been trading on the market for 5 years, of which almost 2 years on LexaTrade. Everyone should understand how to distinguish a good broker from those that are often considered scammers and why forex is a scam. We present your user reviews, according to the rating of a broker. With everything said earlier, to do a LexaTrade review, we had taken it upon ourselves to conduct an exhaustive examination of LexaTrades offers and services.

I have uploaded some moeny and post that they have locked my amount and i am nither withdraw nor able to trade. They are asking more money to upload to enable my account and not returning the amount that i have already uploaded. In a few weeks, we managed to increase the deposit by 15-17%.

Moreover, one faces the risk of imprisonment or a fine should they be found to be trading Forex illegally. “In February 2023, I found on the Lexatrade portal that all my investments were zero. I got in touch with Mr Swapnil, who assured me the money is safe and I will get it when I deposit the $65,000 to the bank,” he said. The retired officer said he had “no alternatives” and took a loan of Rs 49 lakh from his friends and family to pay this amount.

The xCritical platform is one of the most noteworthy trading platforms in the trading industry. Some even suppose it comes to par with industry favourite, MetaTrader 4. Through its mobile platform, an expansive set of tools available through its PC version are mirrored effectively.

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