It allows them the greatest reach, as the primary concern with the accounts is budget rather than trading style. That means the accounts suit most strategies, and as such, can attract diverse groups of traders. It offers a diverse range of payment options ranging from bank wire transfers to credit/debit cards, from Skrill to Neteller. The methods for deposit are Visa, CryptoWallet and e-Payouts and we assume the same methods will be used for withdrawals, although LexaTrade doesn’t mention this specifically. Overall this is a promising broker but a few tweaks here and there would make it a better one.
- It’s by no means a strict scam, and in fact, it’s safer than the average broker, but you still need to tread carefully.
- This is not the case with LexaTrade and thus far we consider this CFD broker a reliable partner for your trading needs.
- It lowers risk diversification as well by investing in the basket of different stocks of various companies and sectors.
On the other hand, the majority of traders don’t need Expert Advisors, scripts and the (sometimes) stuffy interface of Meta Trader. Besides, LexaTrade’s Web platform offers all the tools that can turn a skilled trader into a profitable trader. Lexatrade has potential, but it also has a lot of things bogging it down and making numerous questionable decisions. The asset access is limited, your withdrawal requests are low priority, and the spreads are extremely high. We’re nearly certain the broker made the accounts just to seem more open. If you’ve been following our Lexatrade review, you’ve likely noticed that the broker takes a step forward and a step back.
ACCOUNTS OFFERED BY LEXATRADE
Thus, https://cryptolisting.org/blog/what-do-u-mean-by-standard-cost guides investors before they start investing through their educational resources. Investing in commodities can be a great way to diversify your portfolio and achieve long-term gains. It’s important to carefully consider options before making any investments, and LexaTrade is a trusted broker that can help you navigate this process. With their 24-hour client service team, you can get the support you need whenever you need it.
- This does seem like a friendly broker, but I am not sure it’s the best choice for a total beginner, simply because the lowest deposit to open an account is $250.
- And besides, if you really want to do advanced technical analysis, LexaTrade offers Meta Trader 4 so you can have the best of both worlds.
- Fill out the application form with your personal information, including your name, mobile number, email address, and a secure password.
- The broker set up strict payment procedures for the safety of the trader’s funds and to prevent financial theft.
- That being said, caution should be used anytime money is involved, with all brokers, old or new.
With over 170 trading instruments, various tools, and timely risk management features, the platform ensures a high-quality trading experience overall. On the other hand, the Web platform offered for the minimum account is quite enough for the average trader, so maybe that’s not a deal breaker. LexaTrade’s MT4 web terminal is a highly secure and reliable trading platform, incorporating advanced technology and offering a seamless trading experience.
Fund and Account Security
The broker offers different types of accounts to its clients for better trading experience. This broker offers a balanced mix of functionality and user-friendliness. And besides, if you really want to do advanced technical analysis, LexaTrade offers Meta Trader 4 so you can have the best of both worlds.
And without the broker specifying the times, who knows how long it might take for you to get your money. As such, we don’t think you can get a competitive trading service up until the $10,000 account at least. It lowers risk diversification as well by investing in the basket of different stocks of various companies and sectors. The only extra worth mentioning is the Autochartist which is available right on the trading platform and is free of charge. It offers signals and pattern recognition and is generally regarded as a reliable tool but of course there are no guarantees that it will be profitable.
The default proprietary platform is good enough, with an intuitive interface and a solid set of analytical features. As such, we can’t hold the deposit requirement for MT4 against the broker too much. But as we said, we don’t like paywalls for core features as a practice, although you may not mind them at all. Cheapest and most expensive aren’t the most precise terms, as there’s no actual cost attached to the account. However, we can’t neglect the fact that $100,000 is a hefty sum and isn’t something anyone can reach.
It seems like the website wasn’t designed in English, but rather translated from another language. We know some brokers like to take that approach, and it usually works moderately well. However, the translation itself is shoddy, so the website ends up looking unprofessional.
REASONS TO LEARN TO TRADE WITH US
Lexatrade has five different account types covering budget and high-end options. The broker uses a tiered account progression where each type requires you to reach a specific threshold. The platform also offers customizable charting, allowing users to tailor the charts based on different timeframes. A classic choice, particularly in Forex trading, the MT4 platform has garnered trust from seasoned traders ever since its launch in 2005. Also keep in mind that the company is regulated (IFMRRC), which is not the fiercest of financial watchdogs, but any type of regulation is better than no regulation at all. That being said, caution should be used anytime money is involved, with all brokers, old or new.
There is no fee to open an account and the fees for deposits and withdrawals are not specified anywhere on the website. There is no mention of an inactivity fee but we cannot guarantee that you won’t be charged one. Live chat support was available at the time of our visit but a bit slow to answer. Lexatrade has developed an online training program for traders that takes students from their first deal to consistent results in the market.