That being said, caution should be used anytime money is involved, with all brokers, old or new. While some reviews online may portray LexaTrade in a positive light, it’s crucial to be cautious. Unregulated brokers often manipulate online reviews to appear legitimate. Brokers required various licenses and regulators’ approval to serve investors and traders.

LexaTrade claims spreads of 2.5 pips on EUR/USD for basic accounts, significantly higher than the industry average (1.0 – 1.5 pips). However, considering their overall unreliability, focusing on spreads becomes irrelevant. If you have lost money to companies like BiTDTCC, or Bitsoft 360; please report it to us on our report a scam form. EvenInsight.com is a venture of Even Insight Technology and a website for cyber security and analysis. With the collaboration of multiple security partners, EvenInsight provides the detailed evolution of each website which empowers users to identify potential scams.

Is this your company?

Reviews and reports from users suggest issues that point to LexaTrade being a potential scam, primarily due to limited regulatory transparency, suspicious practices, and challenges in withdrawing funds. In this review, we’ll examine why users should exercise extreme caution if considering LexaTrade. Live chat support was available at the time of our visit but a bit slow to answer. The minimum deposit is $250 and the available methods are Visa, CryptoWallet and e-Payouts; the processing time is not specified.

With over 170 trading instruments, various tools, and timely risk management features, the platform ensures a high-quality trading experience overall. The charges are higher compared to the platform we have reviewed so far. The spreads vary on the account type and the  instrument traders trade in. Moving forward with this LexaTrade review, we will further discuss the platform’s fees, platforms and account types. If you’ve been following our Lexatrade review, you’ve likely noticed that the broker takes a is lexatrade legit step forward and a step back. The case with its funding is much of the same, as there are some things that look good.

OranusFX Reviews: Is Scam or Good Forex Broker?

It is registered in Saint Vincent and the Grenadines which makes no sense. At a glance, it seems amazing platform and opportunity to earn trading profit with LexaTrade experts. Within a few years of its establishment, LexaTrade expanded its services to different countries around the world. Offering incentives for reviews or asking for them selectively can bias the TrustScore, which goes against our guidelines.

Spreads and Cost of Trading

1. Information about withdrawals is missing and this should be addressed by LexaTrade.
2. Moreover these personal manager act as LexaTrade affiliates who enforce clients to deposit more on their platform.
3. With a sharp eye for detail and years of experience, I try to provide concise and insightful assessments of various forex brokers.
4. While some reviews online may portray LexaTrade in a positive light, it’s crucial to be cautious.

Lexatrade offers personal account managers to its users and they help in trading. LexaTrade began by managing cash transactions in real-time trading using PAMM accounts. Over time, it has grown and developed advanced trading solutions and a variety of financial instruments, becoming a well-known online brokerage brand. 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.

LexaTrade Scam Indicators: Pros and Cons Recap

Information about withdrawals is missing and this should be addressed by LexaTrade. The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client. Given the abundance of warning signs, potential investors are advised to avoid LexaTrade. Numerous reports indicate that this platform may be a scam, with serious issues related to funds accessibility, aggressive tactics, and regulatory opacity. For those looking to enter the trading market, many reputable and transparent platforms offer safer and more secure services. LexaTrade claims to be an online brokerage offering access to various financial instruments such as forex, indices, and commodities.