Content
LexaTrade UK Ltd is a member of the Financial Services Compensation Scheme . The FSCS is an independent compensation fund of last resort for customers of authorised UK financial services firms, set up under the Financial Services and Markets Act 2000. The FSCS’s objective is to pay compensation if a firm is unable or likely to be unable to pay claims against it in the event the firm has stopped trading or has declared to be in default. First you have to sign in to your already opened trading account and find the depositing interface. After this, you select one of the deposit methods the broker supports, enter the deposit amount and make the deposit.
At some brokers, you can also have more trading accounts with different base currencies. For example, at IG, it is possible to have both EUR and USD-based accounts. The minimum deposit means that you will first need to transfer this amount to your brokerage account from your bank account in order to start trading. LexaTrade offers users the ability to trade on a variety of trading platforms including MetaTrader 4 and CQG. LexaTrade offers a total of 85 tradeable symbols encompassing mostly currency pairs, with barely a dozen CFDs on indices, metals, and bonds.
Ready To Find Your Broker?
The FCA is an independent public body given statutory powers by the Financial Services and Markets Act 2000. It regulates the conduct of both retail and wholesale financial services firms in the UK. The regulator’s mission is to protect investors and ensure the financial markets operate with high standards and integrity.
As for the LexaTrade bonus, the broker offers multiple promotions to its clients, ranging from the $30 Welcome Account, Trader of the Month, and many more. These bonuses give additional trading funds to the lucky winners who also can withdraw the bonus money to their personal account.
LexaTrade Vs Other Brokers
The trading platforms have outdated design and the news feed is basic. Account opening is seamless and there are a lot of free deposit/withdrawal options. LexaTrade is a low-cost forex and CFD broker, regulated by several authorities globally, including the top-tier FCA. LexaTrade’s currency pair selection is average, not as wide as AxiTrader’s but bigger than FXCM’s. You can also trade some CFDs on stock indexes, commodities, and bonds. However, stock CFD, ETF CFD, and crypto CFDs are not available.
Listings that appear on this page and/or on this website are of products / companies / services from which this website may receive compensation. This may impact how, where and which products / companies / services we review and write about. This page may not include all available products, all companies or all services. She ends the live chat abruptly and doesn’t answer my questions.
I like LexaTrade due to their below industrial average brokerage charge for raw market spreads. I am using their demo account but I cannot open a live account as I won’t be able to deposit money unless using a third party payment gateway like Skrill which I don’t want to.
This award-winning tool can help find potential trading opportunities and is free to all LexaTrade clients. It can be used as a standalone online web platform or as an MT4 plugin. There is an online community with an abundance of educational material for Autochartist. The web trader is an online trading platform lexatrade rezension that gives quick and easy access to MT4 without needing to download, install and run any additional software. It provides the same features as the MT4 platform but runs directly in your browser. LexaTrade UK Ltd is authorised and regulated by the Financial Conduct Authority in the United Kingdom.
Furthermore, I strongly believed LexaTrade account types is actually a market marker instead of NDD. The reason why I make this sentence such a bold one is due to the explanation I had given above. If you had been trading FX/CFDs for nearly a decade with pure ECN brokers, you’ll understand why I’ll say that their account types is DEFINITELY not an ECN. If you had absolute lexatrade forex brokers reviews zero idea on what ECN is, please do some google research and read what I had shared above to get yourself a glimpse of a view on what’s deal all about. For some reason, how would a broker offer an ECN account at a small relative amount? Most of the ECN brokers I had dealt with over the years had been offering the accounts with a high level of deposits comparatively.
Order is executed on price NOT SHOWN in MT4, but on price worse for client by 1-2 points. This happens every time, for manually opened positions and pending positions. I brought this issue also to them, and gave them chance to refund what they were stealing from me for years, but they refused with no true explanation provided, only fake arguments which has nothing to do with reality. Experienced trader like me can not be fooled or tricked like that. The only possible complaint is the high spread at the first trading hour of the day. But I understand that’s because of the low liquidity and it happens on all other brokers I’ve traded with.
Trading Ideas
LexaTrade clients receive a 20% discount on all packages with 100% uptime guaranteed. LexaTrade South Africa Ltd is authorised and regulated by the Financial Sector Conduct Authority . LexaTrade Asia Ltd is authorised and regulated by the Labuan Financial Services Authority. LexaTrade Ltd is authorised and regulated by the Seychelles Financial Services Authority . LexaTrade Europe Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission . LexaTrade UK Ltd is authorised and regulated by the UK Financial Conduct Authority . LexaTrade does not interfere with the pricing of its Oil products.
LexaTrade Europe Ltd offers segregated accounts with negative balance protection and access to the Investor Compensation Fund for retail categorised clients. All content on this website including articles, data, website design and environments(collectively the “Content”), is the property of Hercules.Finance or its partnered companies’. All textual content on Hercules.Finance is copyrighted by us or the original sources and protected under intellectual property law and international copyright laws. All website users may not reproduce, publish, distribute, translate or create a derivative work of the content in whole or in part. Hercules.Finance is a website owned by a team of Financial Specialists and IT experts. The other product names and marks referred to on this website are the trademarks of their respective owners. The below table shows the minimum spread and the trading commission of each account type.
Spreads & Fees
Please note we are not making any transaction on behalf of the clients. LexaTrade use cheap tricks to lure clients with their local deposit/ withdraw options.
- In this LexaTrade review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs.
- Support is offered in English, Italian, Spanish, Russian, Chinese, Indonesian, Vietnamese and Arabic.
- LexaTrade is a heavily regulated Broker with good reputation, globally recognized and offering good trading conditions for Professional or regular size traders.
- My primary broker sends my funds to my account even sometimes within the same day, but LexaTrade, hell no, I promise that you wont get your money easy.
- LexaTrade Europe Ltd is licensed and regulated by the Cyprus Securities and Exchange Commission as a CIF limited company.
- Now, let’s review each of the above-mentioned points more closely.
Demo accounts are available to test the different trading platforms and conditions before opening a real account. Whilst demo trading conditions are mainly the same, no slippage occurs on the demo account. LexaTrade account holders have negative balance protection that ensures clients cannot lose more than their initial deposit. If the LexaTrade client risk team identifies irresponsible trading, they may contact the client and ask them to reduce risk or they may reduce the leverage on the account. To open an account, you have to provide your personal details, like your date of birth or employment status, and there is also usually a test about your financial knowledge. The last step of the account opening is the verification of your identity and residency. For this verification you usually have to upload a copy of your ID card and a document that validates your proof of residence, for example, a bank statement.
Is LexaTrade Safe Or A Scam
The FCA regulates financial firms providing services to consumers and maintains the integrity of the financial markets Stock in the United Kingdom. It focuses on the regulation of conduct by both retail and wholesale financial services firms.
Bottom line, LexaTrade is best for active and VIP traders, who have access to pricing that competes among the lowest brokers in the industry. This arguably means clients benefit from lower fees and operate in a more transparent trading environment. The support team can help with a range of queries, from registration and verification documents to swap-free conditions, forgotten passwords and account FAQs.
Unfortunately, there are no notable add-ons, besides Autochartist, to help LexaTrade stand out among the best MetaTrader brokers. Finally, VPS hosting is available at LexaTrade and is useful for algorithmic traders using MT4.
