Lexatrade aims to provide the most cutting-edge technology solutions and recognizes the need for excellent customer service and support. The broker assistance is accessible 24 hours a day, seven days a week. The company has client offices in different locations, ensuring that the broker is ready to answer questions and help teams worldwide.
The reason they have only setup a raw trading since Feb 2020 is the fact that IC AU regulation had stated can only be used for AU citizens, hence IC EU / Seychelles were setup to facilitate EU citizens. I did that and they complied and where very swift in doing so. Not sure what people are panicking about they have been around for years and because they setup new entities in other jurisdictions since Feb 2020 makes them not genuine lol. It clearly shows how uneducated people think and struggle in life.
MT4, MT5, and cTrader are also accessible on Android and iOS smartphones, allowing account management and position administration. In Lexatrade reviews, the email support seemed to work comparatively better than live chat and we received relevant answers to our queries within 24 hours on the site. You can save money on conversion fees by trading in 10 base currencies, including USD, GBP, EUR, JPY, CHF, AUD, NZD, CAD, HKD, and SGD. Lexatrade has lexatrade courses scam a great range of quality articles for beginners that focus on day trading and provide technical analysis and tips to understand the risks. When trading with the platform, traders are guided by the suit of its advanced trading modules such as trade risk calculator. Creating an account at Lexatrade is quick and easy, all you need to do is access the website. First, you will be asked to provide your full name, email address, and phone number.
Costs Now, let’s look at the differences in trading fees on different accounts since the prices vary significantly depending on the account type and platform you select. Also, keep in mind that distinct Lexatrade companies in other countries may have their trading conditions, so double-check. More than 20 indexes from across the globe are accessible. You will not be charged any commissions and will benefit from a reduced spread. The NASDAQ indexes, for example, have a minimum spread of 2.0 points. The spreads are minimal, but if you select the raw spread account, you will have to pay a fee, just as in forex. Lexatrade allows traders to withdraw their funds for free with their preferred payment method.
These will differ in the types of spreads you will be charged, the platform that you will use and the subsequent assets that you can trade. I have encountered so many scam brokers that manipulate the market.
Similar to futures trading, the account can end up in very extreme situations in a negative state. We uploaded our Lexatrade review video on youtube and we got different comments from people who say that Lexatrade is a Scam Broker. Withdrawals would not happen or the broker is manipulating the spreads. Form my experience there is no scam or fraud on this broker.
I have only positief things to say, Lexatrade is one of the best brokers I know. The support works 24 hours a day from Monday to Friday and is available via chat, telephone, or email.
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. lexatrade cheating Every account opening has a unique fee structure and trading platform. IC Market traders may feel secure since they are licensed and regulated by ASIC, one of the most rigorous financial authorities globally.
Best Broker For Sure Service Use: Livelength Of Use: Over 1 Year
As far as I know they also have Financial Conduct Authority license. Therefore, you should not have any doubts about the safety of your deposit and money withdrawal.
Let other traders know if this service is worth checking or should be avoided. Lexatrade is an Australian forex broker established in 2007 and regulated by ASIC, CySEC, FSA , and FSCA. We also use different external services like Google Webfonts, Google Maps, and external Video providers.
Lexatrade customer service is good, FAQ section is very informative and we had fast and relevant answer via the Live Chat. We ranked Lexatrade fee levels as average based as we recall its Live Account Spread and compare to 150 brokers in our database. License and regulation are the keys to traders’ fund security. We check two facts, a license that broker carry also its background, and how you are protected if something goes wrong. More detailed basic information including your date of birth and full address. You need to make sure that the address you submit on this screen is identical to the address as it appears on your utility bill / bank statement. Lexatrade said it will work closely with the FCA and relevant authorities throughout the globe to ensure imposter organisations cannot take advantage of traders online.
What Is Lexatrade?
I. Once I’ve closed a trade, their recorded entry price is often different to the one I recorded on paper at the time of entry. Opening an account is quick and easy, and everything is done digitally. Such facsimiles have unfortunately become commonplace online. It is essential to take care whenever on the internet to avoid lexatrade scam falling victim to digital scams. The clone websites noted by the FCA warning include icm-market.com, i-cmarketz.com, icmarketpro.com, and ic-forexmarket.com. Again, none of those sites are owned or managed by Lexatrade. The imposter sites cloned the Lexatrade user interface to cause potential harm to unwitting consumers.
There are more than 20 indices from all over the world available. For example, the NASDAQ indices are available from 2.0 points minimum spread.
Because registered and regulated trading businesses are continuously monitored and inspected by an external recognized body, the broker is regarded as a safe broker. The broker is based in Australia, and it operates under the Australian Securities and Investments Commission. Furthermore, Lexatrade operates a licensed company in Cyprus, allowing it to provide legitimate and legal trading services to European customers. There are zero commission fees for making deposits or withdrawals. As with deposits, the processing time for withdrawals varies with the transaction methods and the trader’s jurisdiction. We appreciate cTrader platform for its superior functionality and faster order execution. CTrader utilizes automated trading software and back-testing features to place and execute orders.
First, let’s go over some basic terms related to broker fees. What you need to keep an eye on are trading fees and non-trading fees. Lexatrade is an Australia-based global forex broker founded in 2007. Moreover, they use some of the most advanced trading technology in the industry in the MetaTrader and cTrader platforms. They have also supplemented this with additional trading tools and resources. Our Lexatrade review found them to be a well regarded and regulated broker with low fees, instant execution and extensive asset coverage.
They offer their clients the opportunity to trade an extensive range of assets with true ECN capability. This means that traders are able to get some of the lowest spreads on the market with near instant execution. They have all trading platforms I need and they are able to create new live accounts over limit on request. The trading platform MetaTrader offers a huge range of analysis and charting material. Choose between different chart types and configure them as you want. Customer balances are managed separately from company funds at the Australian National Bank .
Various payment methods will execute withdrawals in the timeframe specified, while the accounting staff at Lexatrade verifies transactions within 1-2 business days. Many of the same techniques as deposits may be used to make withdrawals. Domestic bank transfers and e-wallet withdrawals are free and may be completed on the same business day. Withdrawals from outside the United States may take up to 3-5 business days. As discussed before, Lexatrade is one of the largest forex brokers with more than 50 currency pairs available to trade.
Fees And Commissions
The data center is located in New York and with a VPS server you have the best access to the markets. This allows you to get the best prices in the market and open and close trades in less than a second. Lexatrade offers to trade in forex , CFDs , and futures.
- In total, over 100 securities of companies are available.
- Indeed, Lexatrade technical optimization is among the strongest in terms of execution, platform optimization, the range of tools and provided support.
- However, for International Bank Wire withdrawals, Lexatrade passes on the business banking institution’s transfer costs, which amount to around AUD20 and are taken from the amount of your departure.
- If you are going to adopt online trading as a career, then you need a broker who guides you in the right direction.
Lexatrade also streams in live video feeds straight from Trading Central. These are live trading news segments that cover the latest market movements and economic announcements. Firstly, they use some of the best-known liquidity providers in the world including the likes of Citi, UBS, JP Morgan and Goldman Sachs. They also use dark pools for hidden sources of liquidity. If you had not initially completed identification and submitted KYC documents when funding then you will have to do this before they will authorise your withdrawal request. As is the case with funding, they will only send to an account that is in your name.
These are algorithms that will trade on the MT4 automatically 24/5. For those of you who are of the Islamic faith, then you can request a fully Sharia compliant Islamic account. This is available on all of the accounts above and effectively makes the accounts “swap free”. On trading profitability and is hence a really important criterion for us. This was something that really impressed us about Lexatrade.