LexaTrade Review For 2021

To start the process of opening an account with LexaTrade you can visit the LexaTrade trading platform here. To trade effectively with LexaTrade, it’s important to get a have a good understanding of the LexaTrade trading tools and the markets. Most traders need to use stop losses to protect themselves from huge risk unless the trade is hedged against another trade or the trader is not using leverage. Circumstances differ depending on the trade and the markets. LexaTrade Autochartist provides the world’s first Market Scanner available for MT4 & MT5 using a non-trading Expert Advisor script. Scan markets for trading opportunities while viewing all symbols and time intervals from a single graph.

LexaTrade reviews

However, this isn’t at the expense of the more seasoned professional, who also have access to expert analysis and unparalleled tracking tools. As a company that prides itself on solid customer service, their users are well-served with support available in many different languages. The platform boasts over 1.5 million clients with traders in 196 countries. The company prides itself on things like excellent customer service and a personalised approach for every client, no matter their investment goals. I opened an account on Thursday and it was activated on the same day and I deposited the amount of $400. After that, the company closed the account on Friday and prevented me from withdrawing any deposits. They must send documents to Cyprus in light of this atmosphere of krona, and I did not trade in my account or opened deals on it.

The LexaTrade customer support desk is available 24 hours a day, from Monday to Friday – the same time period over which the markets are open. Most traders will never use their broker’s customer support service beyond the occasional query for clarification of the trading terms offered. Still, its good to know that if you do need the help desk, you will be dealt with promptly and helpfully. The educational rooms are live trading rooms which clients may enter and participate in and see live markets traded in real time. Most of them are open for eight hours continuously on weekdays, which is extremely impressive. Seven educational videos on a range of common Forex trading topics are also present in their relevant subsection. It supports up to 128 trading accounts, has multiple order types, three allocation methods and provides management and execution in real time.

Trading individual stocks at LexaTrade is available with competitive to average stock fees. US shares carry a commission of $0.04 per share, twice as high better-priced options, but the minimum cost of $1 per transaction ranks among the lowest. UK and German shares show a stock fee of 0.10% with a minimum of $9 and $5 per order. The percentage-based charge is average, and the minimum cost highly competitive, especially for traders with smaller portfolios. The combination of the LexaTrade structure results in acceptable stock fees. You can use many educational tools, such as webinars and a demo account.

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LexaTrade has more than a total of 1000 financial instruments which can be traded on the MetaTrader 4 and MetaTrader 5 platforms. This does include Forex Trading, Commodities CFDs, Stocks CFDs, Precious Metals CFDs, Equity Indices CFDs and Energies CFDs. LexaTrade provides MetaTrader for desktop trading platform, where it is very similar to the web trading platform. The only major discrepancy is that you will be alerted to any price changes. Opening an LexaTrade trading account can be done digitally, with no delay, and on the same day as you apply. All you need is to fill out the application, by choosing the language that you prefer. Overall, LexaTrade has achieved to create a client-centric culture and manages to offer very competitive trading conditions.

These tools are fully automated and can perform technical analysis across multiple instruments and charts, in order to identify potential trading opportunities. This makes it quick and easy to identify trading signals without needing to constantly stare at your charts all day and night. The LexaTrade MT5 offers all of the same powerful features that the LexaTrade MT4 has to offer, along with more trading tools and advanced capabilities. It has an additional 1000 CFDS on stocks , which makes it the ideal multi-asset platform. You can trade forex and CFDs on stocks, gold, oil and equity indices from 1 platform with no rejections, no re-quotes and flexible leverage. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

LexaTrade reviews

The broker offers an advanced trading platform as well as flexible trading conditions to accommodate a range of global clients. LexaTrade’s expertise comes from in-depth knowledge of and experience with the global financial markets.

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It would be great to have an alternative terminal using modern technology. For instance, cTrader looks impressive in terms of having everything well placed and informative. Several functions for easy manual trading are more effective there, in my opinion. I was so close to open an account with them, Thanks lexatrade official site for the heads up and I hope they will give your money back to you. Stop saying nonsense please,LexaTrade clearly stated that you can not withdraw bonuses given to you. You can only withdraw your profits from your account balance. In terms of research tools and Market materials, you will find it in order too.

There is a $15 one-off maintenance fee after 1 year of inactivity, and this is followed by a $5 monthly fee if the account remains inactive. With LexaTrade Micro and Standard Account, there are no commissions charged. However, with the Zero Account, it offers tighter spread but there are commissions charged.

LexaTrade reviews

Minimum deposit required is just $5 whilst you can choose between no commission accounts with marked up spreads or pay a $3.5 commission charge to get variable spreads starting from 0 pips. Leverage depends on the financial instrument traded and on client’s country of residence. LexaTrade Group is operated with client requirements at the forefront of everything that they do. This is not just for the best possible trading conditions but also the simplicity of opening an account to making deposits / withdrawals, contacting support and trading.

Withdawal Rejected Service Use: Livelength Of Use: Over 1 Year

The platform takes pride in serving 1.5 million clients in 196 countries. You will receive personal broker selection advice by email or phone within 24 hours from one of our professional brokers. LexaTrade charges $5 per side on LexaTrade Zero accounts ($10 round-turn) per 100k unites . The LexaTrade Zero account can be funded with EUR, USD or JPY from as little as $100. Please note that the forex pair USD/CNH is not available on LexaTrade Zero accounts. Here on ChooseBroker.com, I try to keep a large independent database of brokers and brokerage firm reviews.

  • After that, the company closed the account on Friday and prevented me from withdrawing any deposits.
  • When it comes to the demo account offering, it is said that LexaTrade is most likely to excel in it.
  • Its location on this page may change next time you visit.
  • These cover things like using Expert Advisors, placing orders, the terminal window, using templates, and more.
  • Looking at trading fees first, we begin with spreads and commissions, which should be lumped together as an all-in “round trip” cost covering the opening and closing of a trade.
  • This does include Forex Trading, Commodities CFDs, Stocks CFDs, Precious Metals CFDs, Equity Indices CFDs and Energies CFDs.

Margin is the required amount in the base currency of the trading account needed to open or maintain a position. Although each client is fully responsible for monitoring their trading account activity, LexaTrade follows a margin call policy to guarantee that your maximum possible risk does not exceed your account equity. Although the demo accounts have all of the same features and functions of a real account, you should keep in mind that demo trading cannot replicate real trading market conditions. A demo trading account can be a great way to practice trading online and familiarise yourself with the LexaTrade platforms without risking real money. Once you have tested your trading strategies, learned about market moves and how to place orders, you can take the next step to open a trading account with real money.

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On a similar note, you can also pause and rewind live radio, courtesy of a massive one-hour buffer. In a nice touch, SiriusLexaTrade supplies a daily live radio guide so you can view upcoming lexatrade official site shows’ broadcast times. In addition, favorited channels live in their own dedicated section and even display what’s currently playing so you can decide whether or not to listen.

LexaTrade reviews

As part of a brokers regulation they are required to clearly disclose any inactivity fees. If you are no longer using your trading account close it with the brokers customer support.

Can You Open LexaTrade Account In South Africa?

You will not need to go through a two-step verification process, but you will need to go through a two-step login process, for safety measures. Because of the two-step login, you will not be able to find the Face Recognition feature useful. There are two types of trading platforms that stock market offer mobile services, MetaTrader4 and MetaTrader5. There are many languages that are available for you to choose from, so you do not have to worry about not finding the right one. There is no difference between the MT4 and MT5 web trading platform and the desktop trading platform.

To withdraw any money I made or the total amount, I was told I had to pay 10% ‘profit tax’ of my account balance in 72 hours otherwise I could not withdraw. It has good customer support which can immediately help resolve your problem. And the strong arm to cancel junk, wasting 30 minutes of my time is even worse. My business included updating my credit card number and purchasing another year of Sirius by phone. The lady on the phone had a annoying loud voice and she spoke in broken English. In addition, there are numerous LexaTrade’s add- ones allowing you to enjoy extra benefits that the platform offers. This includes also LexaTrade VPS, Rapid Trade Execution and remote connection to a Virtual Private Server.

Once you have opened an LexaTrade trading account, you can login to the members area and request an Islamic account. As soon as the relevant department receives your request, your trading account will receive swap-free status and you will be notified by email accordingly.

LexaTrade reviews

It also allows for the most accurate quoting and tighter spreads. There are 57 forex pairs available, including majors, minors, and exotics. You can view all the specific instruments available for trading on the individual asset pages. The contract size is 1 share with a minimum trade volume of 1 lot. Clients can have a maximum of 50 positions open and pending, and the lot restriction per ticket depends on the share. LexaTrade also takes steps to adapt to changing client needs as they become more demanding and sophisticated. This is done by monitoring industry trends and technologies.

LexaTrade reviews

Major countries LexaTrade covers include the UK, Germany, Australia, South Africa, Thailand, and China. LexaTrade is regulated, governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the behavior of the brokers and if things go wrong they will take necessary action. Before trading online with a broker such as LexaTrade you should be sure they’re legitimate online agent. Having any money you deposit with LexaTrade means that your funds are safe in a bank that has enough capital to accommodate your withdrawal wishes even if LexaTrade goes out of business for some reason. When trading in the financial markets it can be very time consuming to find a broker that meets your needs.

Each of the three accounts, based on a client’s requests, can be applied to an Islamic, or otherwise know as swap free, account. This shows that there is no swap interest and the Islamic account is applicable for any client that follows the Shariah laws. The trading accounts of LexaTrade, such as Standard, Micro and LexaTrade Zero accounts, all contain characteristics that can be customized to each clients needs. According to our research in comparison with otherForex brokers, there are differences in the trading fees between LexaTrade Group and other competitors.

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