CFDs are leveraged products and can result in the loss of your capital. You’ll also need to answer a few basic compliance questions to confirm lexatrade official site how much trading experience you have, so it’s best to put aside at least 3 minutes or so to complete the account opening process.
Traders can become LexaTrade VIP clients with some benefits, such as trading via telephone, access to the tightest fixed spreads, personal analyst, and real-time market updates via SMS. The broker offers over 200 trading instruments across different asset classes, including forex, commodities, cryptocurrency, stocks, shares, indices, metals, energies, options, bonds, CFDs, and ETFs. The broker offers a choice of three live trading account options. The account types include VIP, Premium, and Standard accounts. There are 2 main account types, the VIP account for the LexaTrade web/app platforms or the VIP account for MT4.
LexaTrade Commission Fees
LexaTrade has also developed some really helpful trading tools that give their users more choice. Many of these are patent pending and they are all within the rules that are defined by the regulators. Another great benefit of the MT4 platform is that it is exactly the same across all of the brokers across the world. So, if you learn to use it on LexaTrade and would like to move to another broker then it is really quite simple. Then, when it comes to the charts themselves, they are third party trading software developed by Tradingview.
- The minimum spread can go as low as 0.5 pips and the maximum goes as high as 25 pips.
- Traders can access vanilla options, Forex forward orders and pending orders on the proprietary trading platform.
- Likewise, the guaranteed stop loss that we offer on our web platform helps you control your risk on every trade so you never lose more capital than willing to risk.
- This is why we proudly offer fixed spreads and no slippage on our web platform which means you are always aware of your costs before trading.
- Stops are fixed at seemingly arbitrary intervals, which makes it impossible to precisely adapt risk to market structure or volatility.
- With this said, the broker has implemented a Secured Socket Layer which protects the website and its platforms against cyber attacks.
If the LexaTrade Login page has disappeared, or if you believe you have been scammed by LexaTrade, please report a scam via chat as soon as possible to get assistance recovering your funds. Another option is the most used platform in the world – MetaTrader 4. Metatrader offers many benefits most of them thanks to the comunity build over the years. The other huge benefit could be the option to create your own trading robots, to build them in MQL4 language, to backtest them and optimize the parameters. You can also take advantage of the vps feature, where you can quickly set up a working station and launch your trading robots. This is the quickest and the most safe way to make trading robots work 24/7.
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And it comes with quite a few impressive tools that MetaTrader 4 doesn’t currently offer. Spreads for these assets are still fixed and vary between 50-2,500 pips. For three crypto-assets at LexaTrade, spreads can down to 0.004 USD (XRP/USD), yet the maximum price difference goes as high as 40 USD for Bitcoin.
This means that only the low-credit-risk banks are safe-keeping your funds. To prevent that, LexaTrade offers negative balance protection, which automatically closes your trade the moment it reaches 0. Over the years, LexaTrade expanded their CFD offerings to include global indices, options, metals, forex, commodities, and cryptocurrencies. The broker’s attempt at providing research is less than ideal, even though the education section is respectable. From a trader’s perspective, the high trading costs, coupled with the choice between two mediocre trading platforms make this broker a second-tier option. Traders would be wise to consider other options despite the polished impression LexaTrade website conveys. We aim to provide unbiased online trading broker reviews to give traders a clear understanding of the different brokers available to them.
Additionally, LexaTrade has a 24/5 customer service system which customers can reach via live chat, email, and telephone. They are withholding my money – I have paid twice for the ridiculous SEPA deposits earnings on forex to verify my bank account, both are marked as complete but they are still saying I have no bank account verified. I’m outraged – it’s robbery and illegal and I’m considering taking further action.
Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades. The financial services provided by this website carry a high level of risk and can result in the loss of all your funds.
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Trading platform is a tool where you can buy or trade an instrument with only some clicks on your device, anytime and anywhere you want. In addition, price chart is also usually provided with some analytical tools to help you analyze the price movement, so you can increase your profitabiliy by placing well-planned trades. The minimum trading size is listed as 0.01 lots in the MT4 trading platform, and 0.05 lots in the LexaTrade webtrader.
So far, you have access to two market orders and four pending orders. It has over 30 indicators and over 24 drawing tools pre-installed for you. You can take advantage of the predesigned templates on the platform or create yours. It’s given to all traders who deposit $100 and above as their first deposit. VIP account lexatrade official site – Spread is 1.2 pips and 0.9 pips for the proprietary platform and MT4 platform, respectively. Premium account – Spread is 1.5 pips and 1.4 pips for the proprietary platform and MT4 platform, respectively. Standard account – Spread is 2.0 pips on the proprietary platform and 1.9 pips for the MT4 platform.
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Fortunately, there’s no danger of deterioration with LexaTrade. During our review, we found two primary trading platforms that work for desktop and web platforms, as well as one mobile trading app for both iOS and Android smartphones. As we have already seen in this review of LexaTrade Forex broker so far, the instruments and their conditions that are available on this platform are advantageous for virtually any financial trader. With that in mind, it is pretty reasonable to want to sign up at LexaTrade. After reviewing financial instruments and their conditions, we went on to find whether LexaTrade offers any promotions to its clients. Granted, one cannot form an opinion about the broker’s credibility from its bonus offerings, it’s still nice to see some additional gifts and surprises on your account. Now, during our review of LexaTrade Forex broker, we found out that the swaps for Wednesday-Thursday trades will triple in size to account for the inactive weekends.
It allows you to quickly correct your mistakes by undoing it for a very mall commission. So, if you make any mistake and it hasn’t been more than 60 minutes from creating an order, you can easily cancel the trade and bring the losses back. Now, as we have already mentioned in the introduction of this review, LexaTrade is an international brokerage that provides its services to a bunch of different countries. With that being said, however, there are some nations that stay beyond the broker’s coverage.
The material does not contain investment advice or an investment recommendation,or, an offer of or solicitation for, a transaction in any financial instrument. Some of the links on this websites articles and comparison tables are affiliate links, which means we receive a commission should open an active account. We have covered allot in this LexaTrade review, If you want to see how LexaTrade compares side by side with other brokers check out our LexaTrade Vs pages. We tested communicating with LexaTrade support in multiple languages in multiple countries. The LexaTrade help center where able to quickly resolve our customer issues. Our initital investment of ten thousand dollars for the trade and has made a thousand dollars in profit because the price is up ten percent.
You can see the full list on their site but perhaps the most prominent is the United States. In this LexaTrade review we will be give you what you need to know about the broker. I will also give you some top trading tips you need to consider.
In fact, these changes are so quick that from the moment you press the button to when it actually opens, the price can change significantly and go against your original position. With the Freeze Rate, you can have the market ‘frozen’ on one specific price and be sure that it’ll stay the same until you place a new position. This next section found during our LexaTrade review lists all of the major economic indicators and explains their importance in trading. This list includes High, Medium, and Low impact indicators that you can use for fundamental analysis. On top of that, LexaTrade doesn’t engage in requotes – a practice of betting against your own clients. This further increases the trustworthiness of the broker and ensures that your money is definitely kept in safe hands. Unlike MT4, WebTrader is a proprietary platform developed by LexaTrade itself.
You can also use my free trading tool to compare forex brokers including LexaTrade. Besides these accounts, our LexaTrade broker review has also revealed Islamic and demo accounts. With an Islamic account, you can eliminate all interest rate charges for overnight trades, whereas a demo account allows you to unlock your full potential by trading virtually. It further proved that we’re dealing with a top-tier trading brokerage. Besides the above-mentioned live trading accounts, we have also discovered an Islamic account during our LexaTrade Forex broker review.
The largest minimum amount relates to the super VIP, which is $50,000. The incentive to choose an account with a higher minimum deposit is lower fixed spreads and a personal account manager. It’s also the best place for beginners to start, as LexaTrade have vast educational resources and research tools which they can use to hone their trading skill. They also have access to a demo account to practice in actual market conditions and feel the market mood.