It basically reveals the amount of potential profit that can be made in the trade. On the surface, it looks much like any other Forex trading company but once you create an account that’s where the truth is revealed. Today we will check out a Forex company that has been around since 1996 and during that time it collected many complaints and reports. But there are a lot of fake Forex brokers that pop up online and are designed in a way that resembles reputable companies in order to lure people in and steal their cash. Accounts can be opened USD, EUR, GBP. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency. LexaTrade provides their clients with an economic calendar that is updated on a daily basis. The calendar has the timetable of the important scheduled economic data releases, announcements, and events.
LexaTrade offers trading in over 800 instruments spread across six asset classes, including currencies, commodities, indices, shares, cryptos, and ETFs. The broker provides their clients with live trading signals from an independent signal provider. It should be noted that there is no guarantee on the performance of results when copying trading signals. You should have a clear understanding of the significant risks involved with trading online. The Data shouldn’t be construed, directly or indirectly, as investment advice and/or recommendation of LexaTrade or on its behalf. LexaTrade does not, and will not, assume responsibility of any kind regarding the Data.
Deposit and withdrawal methods are also thin, with only credit/debit cards and Bank/Wire Transfers supported. This might be an issue for traders that have complex demands from their broker. Greed and improper money management are the two biggest enemies of the Forex trader. Hence, you must learn to manage risk and trade responsibly to earn profit in Forex trading. LexaTrade free educational materials can help you gain the required knowledge to trade Forex responsibly.
A $15 quarterly inactivity fee is charged to accounts that have been dormant for 12 months. Also, when trading shares, ETFs, and CFDs with leverage, there is an overnight financing charge, which starts at 5% per annum for indices and 2.5% for commodities and cryptocurrencies. But for the most part, trading fees are around the industry norm and there aren’t hidden additional costs to be wary of. Spreads are relatively competitive but there is no discount offered for large trading volumes.
Your FOREX.com account gives you access to our full suite of downloadable, web, and mobile apps. Opportunity to trade over 600 assets CFD, including Gold, Silver, Indices, and Stock CFDs. Spot opportunities, trade and manage your positions from a full suite of mobile and tablet apps.
Why Choose LexaTrade?
Overall, there are many questions in regards to the trust of the LexaTrade company services and the manner they do operate the online trading itself. It has an exclusive website for Indian traders LexaTrade.in LexaTrade India claims to comply with BVI FSC for its global operation. However, LexaTrade has no mention of complying with any Indian regulators on its website. It is also worth mentioning that Forex trading is actually prohibited in India.
You can use them to check an instruments’ performance, calculate changes or conduct analysis. You can also use our Indicator Wizard to apply various technical indicators on the charts. Whilst most of our data has been verified directly from these brokers, it can occasionally vary.
Consult relevant financial professionals in your country of residence to get personalised advice before you make any trading or investing decisions. Daytrading.com may receive compensation from the brands or services mentioned on this website. Skilling are an exciting new brand, regulated in Europe and beyond, with a bespoke browser based platform, allowing seamless low cost trading across devices. Build your confidence and knowledge with a wealth of educational tools and online resources. Take control of your trading with powerful trading platforms and resources designed to give you an edge. If you are looking for an Indian regulated Forex broker, then LexaTrade doesn’t meet your expectations.
You will be redirected to the next page where you can read and agree to the Trading Agreement and then fill in the Captcha Code. You will be required to upload your KYC documents — Proof of Identity and Proof of Address, which may take a while to verify. It is imperative to ensure that you clearly read all of the brokers terms, conditions and policies.
LexaTrade offers an advanced mobile platform compatible with most smartphones and tablets. For the ultimate mobile trading experience, you’re invited to download our innovative, free mobile trading apps.
Can I Trust LexaTrade For Forex Trading?
It allows traders to access a variety of features, like opening and closing positions, deposit and withdrawal, account history review. LexaTrade claims that the web-based platform is ideal for traders who use to travel a lot. Although we’re talking about lexatrade a web platform, security measures had been ensured through Firewall access management and 256-bit secure SSL environment. The main downside here is that the broker does not offer any desktop platform, even though some traders would prefer one.
Although it happens rarely, it is good to have negative balance protection for your trading account. Check out the other online Forex brokers accepting Indian clients. Founded in 1996, LexaTrade is a group of online trading companies with intuitive & user-friendly trading platforms. They offer Forex & CFDs in commodities, shares, indices, ETFs, & cryptocurrency. The charts allow for the overlay of multiple indicators for every currency pair or commodity.
For example, EAs and social trading are not available and users are not able to trade with a VPS. Its a great platform currency pairs list for treading, i forex app is very user friendly and easy to handle,m very happy to tread with i forex app.
LexaTrade Trading Platform
CFDs are complex instruments, due to leverage retail accounts lose money. Before you engage in trading foreign exchange, please make yourself acquainted with its specifics and all the risks associated with it. As to the withdrawals, a charge up to $20 may be applied, depending on the payment method and withdrawal size. To make a withdrawal, users must fill out a withdrawal request form. Withdrawals can take up to 28 working days to be processed, depending on the clearing solution trader funded his account with. Such a long period for the withdrawals obviously causes a lot of complaints from the clients. A demo account is available to users but only once a real trading account has been activated.
The UK, Cyprus, and Hungarian subsidiaries serve clients from the European Economic Area, while the BVI-based firm serves international clients from Asia, Africa, and the Americas. Some payment systems may have transaction limits, restrictions, and requirements which are indicated on their respective websites.
I couldn’t find much history about the company besides the basic overview. It was supposed to have been founded by a group of bankers in 1996 and then taken online in 2004 and it steadily grew in popularity since then. I have nothing against reputable Forex trading companies as long as they follow the rules and put their customers first without any fraudulent activities. ICO (cryptocurrencies) It is definitely possible to make money as Forex trader, I personally know a few people who supplement their income with trades, but there’s also not a lot of room for mistakes. Forex trading has been around for a long time and there is still a lot of controversy surrounding the opportunity. U.S. WTI crude oil futures fell $1.5 to $61.86 a barrel on Thursday.
Does LexaTrade Offer A Demo Account?
The broker offers over 800 instruments, including currency pairs, commodities, indices, shares, ETFs, and cryptos, through their web and mobile trading platforms. However, they do not provide the popular MetaTrader platforms and have limited account types. Trade online with LexaTrade, a leading international brokerage group with over 25 years of experience. lexatrade scam The LexaTrade mobile app features intuitive, clear navigation that also includes easy access to our educational materials, economic calendar and many helpful features and tools. The broker offers over 800 instruments — spread across forex, commodities, indices, shares, ETFs, and cryptos — through their web and mobile trading platforms.
- The web-based platform is designed for use on both desktop and mobile devices.
- The broker has a comprehensive video course that can help traders of all levels, regardless of their previous trading experience.
- Resources are split into basic and advanced levels ensuring a spread of information accessible to traders with a range of experience levels.
- To access information regarding account types users will have to first register an account.
- LexaTrade UK is authorised and regulated by the UK Financial Conduct Authority .
- Web-Based Platform – designed to suit the needs of traders who have security systems installed on their computers, without having to download and install any kind of software.
It enables traders to access global markets, take advantage of market opportunities and better manage risks. The exclusive LexaTrade trading platform was developed in-house, based on our 23 years of market experience and an extensive understanding of modern traders’ needs. Web-Based Platform – designed to suit the needs of traders who have security systems installed on their computers, without having to download and install any kind of software.
You may need to verify your account to remove limits on particular methods in some countries. All funds deposited into your trading account must be under the same name as your LexaTrade trading account. Withdrawal requests are processed within the same day or next if outside working hours. The withdrawal time can vary depending on the payment provider and method. Bank transfers may take a few business days to clear whilst some methods can be instant. There are also short video tutorials that briefly explain some of the important aspects of trading, including candlestick patterns and support and resistance levels. Some LexaTrade broker features and products mentioned within this LexaTrade review may not be available to traders from specific countries due to legal restrictions.
CFD and Forex Trading are leveraged products and your capital is at risk. Please ensure you fully understand the risks involved by reading our full risk warning. Welcome, Forex platform we’ll show you how forex works and why you should trade it. Stay informed with real-time market insights, actionable trade ideas and professional guidance.
Mobile Trading Platform
The broker is not regulated by any regulatory body in India, that’s why money safety may be the issue here. Yes, LexaTrade offers users the option to trade on desktop or mobile devices. The app is available to download free of charge from Google Play or the Apple App Store. Yes, a demo account is available to users for a finite amount of time. The practice account is a great way to test strategies and the broker’s platform. Formula Investment House Ltd is licensed and supervised by the British Virgin Islands’ Financial Services Commission.