Please use our link to open your account so that we can continue to provide broker reviews for free. Opening an account only takes a few minutes on your phone. LexaTrade offer quite a substantial range of investment options, designed to suit the vast majority of traders. Forex is the most commonly traded product at LexaTrade and they offer some 60 currency pairs to choose from. MetaTrader4 is one of the most popular trading platforms at LexaTrade, and it comes packed with a number of features and benefits, giving you a comprehensive, well-rounded trading experience.
First of all, the Cyprus Securities and Exchange Commission regulates the operations involving the IC Market platform. Unlike some trading tools with a high risk of losing money, the LexaTrade can be named the best broker since it includes CFD trading and algorithmic trading. Trading fees that are charged in EUR USD and a minimum deposit that equals 200 USD are much lower than on all other websites. Suppose you are a trader or an investor interested in trading carried out on cTrader and MetaTrader websites.
Tests Conducted In This LexaTrade Review
Copyright 2021 Forex Rank – Forex trading carries a high level of risk and it is possible to lose more money than your initial investment. On average 70% – 90% of retail investors lose money when trading CFDs. It is advisable you understand how these instruments work and you can afford the risk of losing your money. The sites information contained herein is not intended to be lexatrade reviews a source of investment advice. Forex Rank assumes no responsibility or liability for any errors or omissions in the content of this site. Forex rank assumes no responsibility of any loss of funds from any referred broker. It is the responsibility of the client to look into local CFD & or forex trading regulations or laws in the clients country, state, province or equivalent.
If you have a complaint about LexaTrade, they have an internal dispute resolution process that includes escalation to their compliance department. If this does not produce a satisfactory outcome, the FOS can be engaged for an independent assessment of the complaint. The FOS will issue a decision on the complaint, which is binding stock market on LexaTrade should you accept the decision. This mechanism provides excellent protection against broker fraud vs other forex brokers. LexaTrade is regulated by the Australian Securities & Investments Commission . ASIC is among the most strict forex regulatory bodies, ensuring a high level of fraud protection for traders.
Can I Use LexaTrade In South Africa?
The account though is identical to the raw spread account in terms of execution and costs. I would highly recommend the raw spread account to all traders, especially those that are trading on lower time frames, so would benefit from a low spread and small commission trading structure. Traders can choose from a cTrader Raw account that offers trades in the cTrader platform or a Raw Spread and Standard account, both of which give you access to the MT5 and MT4 lexatrade rezension platforms. With LexaTrade, you can also open a free Demo Account, which is configured to support all account types, all trading platforms and all trading instruments available with the broker. This account type is very suitable for novice traders, because of its simplicity when it comes to pricing and trading costs. You can access competitive raw pricing and take advantage of no trading commissions, as all costs are incorporated into the bid-ask spread.
Outside of these features, our LexaTrade review found the forex broker doesn’t offer advanced research features such as new headlines and pattern-recognition tools. LexaTrade provide an advanced margin call facility that detects when a trader is approaching a $0 balance and exits the trader automatically. The key issue is that in extreme market events (i.e. the floating of the Swiss Franc) this software may not have the ability to exit the market fast. This can lead to losses exceeding deposits, and the Australian forex broker may request for the outstanding debt to be paid.
LexaTrade Regulation And Licenses
We will provide you with facts so you will be able to understand how reliable LexaTrade is. Be sure to find out up-to-date information concerning all the prices, deposits, trading fees (EUR/ USD), and other additional costs.
These commodities are easily traded on the MT4 and cTrader trading platform. Trading Forex, CFD, Binary Options, and other financial instruments carries a high risk of loss and is not suitable for all investors. The information and videos are not an investment recommendation and serve to clarify the market mechanisms. The texts on this page are not an investment recommendation. In conclusion, LexaTrade is one of the few top brokers worldwide that can be recommended with a clear conscience.
The company name is International Capital Markets Pty Ltd. The main objective of wast to create a retail broker which can connect the individual traders and small companies to the trading solutions offered by big financial institutions.
LexaTrade presents beginner traders with a fantastic educational platform. I recommend new traders begin with the video tutorials and then the 10-lessons Getting Started trading course.
LexaTrade Trading Hours
As spreads are much tighter, traders pay a flat rate commission of USD $3.50 per $100,000 traded. Zero Account holders trade standard contract sizes of 100,000 units per lot.
Spreads start at 0.0 pips, and you will find that all major base currencies are available for you in the True ECN Account with cTrader. With LexaTrade, there are no deposits fees, which mean you will not have to pay additional fees whenever you make a deposit. There are ten base currencies you can choose from as your preferred currency to trade with.
MetaTrader Raw Spread Account$7 roundturnStandard Accounts2. LexaTrade Ultra-Low (Not available UK/EU)Commission FreeLexaTrade’s Ultra Low account is matched to prices from liquidity providers with a markup in the spread rather than a commission to cover costs. So if the Ultra-low account has a 7 pip difference from the other accounts, the cost is the same.
With LexaTrade, since the broker is headquartered in Australia, their main license is the Australian Securities and Investments Commission license. According to many customers who use LexaTrade, the customer support service is excellent, especially for the phone support and email support. VPS, on the other hand, gives access to traders an array of automated trading strategies, along with the possibility to use VPS for free. LexaTrade is also registered and regulated by the Cyprus Securities and Exchange Commission, in order to fully be allowed to provide services to clients from the European Union.
AUD/JPY and USD/SGD, for example, shows LexaTrade to offer significantly better value. While LexaTrade and LexaTrade offer different pricing structures, IC’s Raw Spreads account can be compared to LexaTrade’s Ultra Low account type and LexaTrades Zero Spread account . The account differences are demonstrated in the below table. With regulations from FSA, ASIC, and CySEC, the security of funds and legal operations are guaranteed. Because of their data centres in London and New York, traders can now get the best out of the fast executions. You get to choose if you want to use a commission-based or commission-free account.
- The company offers traders more than 230 tradable assets, and you’ll find everything from forex and stocks to indices, commodities, cryptos and even a few bonds and futures.
- There are several ways to receive passive income on LexaTrade.
- Since many brokers don’t offer rewards, this is not so unusual now.
- Regardless of market conditions, this predetermined entry or exit price selected is guaranteed with no chance of slippage.
- LexaTrade provides various trading ideas,based on technical tools like indicators and price levels.
- In the current broker review, we will pay attention to the key aspects of LexaTrade, which you may consider before deciding whether to trade with this brokerage.
You’ll find that you’ll be able to access a number of different blog posts, all detailing different parts of the trading process. Traders of all levels can stay up to date with recent market developments and this is accessible through their “LexaTrade Blog”, which is aptly titled the “Information Hub For Serious Traders”.