To submit your own Forex Broker review for LexaTrade fill the form below. All reviews represent only their author’s opinion, which is not necessarily based on the real facts. Any action you take upon the information you find on this website is strictly at your own risk and we will not be liable for any losses and/or damages in the use of our website. At LexaTrade, we pride ourselves on our healthy and thriving trading community, which you are welcome to join again at anytime as long as you adhere to our trading conditions.
The broker also charges swaps for holding positions open overnight, though Islamic trading accounts are exempt from this fee. LexaTrade.com started operations in 2011, but has it has already been recognized seven times for its service excellence and educational program. The firm is located in Cyprus and is regulated and licensed by both local and other regulatory bodies across the European continent. The latest innovations in forex tools and resources to assist https://lexatrade.name/en/ you in online trading. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits. Trading Leveraged Products like Forex and Derivatives might not be suitable for all investors as they carry a high degree of risk to your capital. Please make sure that you fully understand the risks involved, taking into consideration your investment objectives and level of experience, before trading, and if necessary, seek independent advice.
This makes the NDD execution type impossible and therefore points towards all account types being offered as market maker accounts. LexaTrade only offers lexatrade website the MT4 Trading Platform, the go-to platform for Forex brokers, MT4 is rather cheap to obtain and often provided as a White Label solution.
Available in over 40 languages, the platform shows deep market history, supports automated trading through expert advisors and boasts more than 50 technical indicators, 30 charting tools and nine timeframes. professional broker and available all the time, effective market analysis, personalized support, my account manager Mr Nizar ARIOUA is real pro, kind and available, thank you to the entire LexaTrade team. i am registered in LexaTrade on 29 March 2021, and deposited 8900$, but me dont like order execution in broker and today 04 April 2021 i send withdrawal request. Let other traders know if this service is worth checking or should be avoided. It offers the possibility of using automated trading systems through the Metatrader 4 platform.
In some LexaTrade reviews, you will find the firm being referred to as AFB FX. As the name suggests, the Fixed account offers fixed spreads, set at 1.9 pips for forex pairs. MT4 also has a browser-based trading platform that can be used from any computer with an internet connection and access to the LexaTrade website. WebTrader requires no download and has many of the functionalities of the desktop platform. The platform supports one-click trading and offers 30 technical indicators, such as Elliott Wave patterns, nine timeframes and a range of charts, graphical tools and order options.
Due to its regulation and legal status broker can be reliable one or now, while LexaTrade is a reliable provider of online trading that applies all EU regulations and laws in an officially regulated environment. All contents on this site is for informational purposes only and does not constitute financial advice.
The broker also provides an impressive range of research and education tools. The articles are feature-rich and can be of value to beginner traders as well as more advanced traders. Forex traders can benefit from weekly FX market reports and the broker further caters to those who prefer audiovisual lexatrade content. LexaTrade lists ECN trading as part of the MT4 capabilities which is impossible without the use of a bridge. By default, MT4 doesn’t support ECN trading and caters to market makers. LexaTrade doesn’t mention which ECB bridge they use which suggests that they don’t use one at all.
The practice account uses real market data but simulated money, providing an opportunity to trial new strategies and EAs, explore new platforms and familiarise yourself with markets. LexaTrade supports the standard deposit methods, i.e., bank wire transfers, credit cards, and local payment providers, to make your process of moving money easy and reliable. All withdrawal requests are processed quickly, but all clients are advised to have all internationally mandated identity information on file before a request is submitted.
Best-in-class 24/5 customer service including live chat, call back and the free click to call service. CFDs are leveraged products and as such loses may be more than the initial invested capital. Trading in CFDs carry a high level of risk thus may not be appropriate for all investors. I have to thank LexaTrade for the excellent experience from the last year.
but when I sent a withdrawal request for some of the funds I received an email that after an internal investigation suggested that the strategy used is not allowed so all the profits and loses were cancelled. So I woke up to O balance in my account, bare in mind that initial deposit was E500. The MT4 is indeed very known and most used software in the industry because of its advanced chart feature, multilingual support, security and reliability along with the support of various Currency market trading styles. The withdrawals are processed via trading account form submit, and since there are no typical fees for transfers from LexaTrade, make sure with your payment provider in case there are any internal fees charged on you. For general understanding refer to the table and spread on popular instruments. For rollover or overnight fee considered as a trading cost, for example also see snap below. As well you may compare fees to another popular brokerAmana Capital.
Supports algorithmic trading through the LexaTrade Strategizer for those with no coding experience. LexaTrade was founded in 2010 and is regulated by the Cyprus Securities and Exchange Commission , the Financial Conduct Authority and the Mauritius Financial Services Commission . The broker advertises the segregation of client funds from their own. By clicking on the ‘E-book’ section users gain access to a free online library with written work covering various topics; an excerpt of which shown below.
Furthermore, LexaTrade is a member of the Investment Compensation Funds, which secures any claims covered clients against members of the Fund with up to 20.000 EUR. LexaTrade already quite known and operates for a while also participates to various exhibitions and received numerous international awards along with the big number of active traders. That all in all confirm its status and reputable position in the industry, which we will also see in detail further within our LexaTrade Review. There Currency market are, however, a range of forex pairs and commodities to be traded, as well as stock CFDs and global indices. In addition, client funds are fully segregated from the company’s capital in tier 1 banking institutions. This removes the possibility of the broker using client money for anything other than carrying out requested trades and funding withdrawals. However, the Premium account is subject to an $8 round turn commission and the Ultimate account charges a $5 commission.
LexaTrade addresses this issue by offering Islamic-friendly, swap-free accounts. LexaTrade’s minimum deposit is $200 with the Starter account, which has the least competitive spreads and the fewest additional features. For the more advanced accounts, minimum deposits rise to $500 for the Fixed account, $5,000 for the Premium account and $25,000 for the Ultimate account. LexaTrade has a well-equipped education centre with a range of free learning resources, as well as some that are limited to Premium and Ultimate account holders. There are several free ebooks, video training courses, a webinar series and online lessons. There is also LexaTrade Web TV, a video blog with daily and weekly technical reports, financial news, forecasts and research.
Types Of Forex Trading Indicators
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange, or any kind of trading you should carefully consider your investment objectives, level of experience, and risk appetite.
This is a fee which is not necessary as LexaTrade already applies a heavy mark-up on raw spreads and swap rates for overnight positions are in place. This is a fixed cost which has nothing to do with interest rate conditions and simply a way to earn more money from its clients. LexaTrade participates in the Cyprus Investor Compensation Fund and Electronic trading platform client funds are segregated as mandated by its regulator. The fund carries a compensation limit per client of €20,000 which should be sufficient to cover’s LexaTrade’s seemingly low-deposit traders. Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions.
The Customer Service Department at LexaTrade has received many awards, based on their excellence and one-hour response time commitment. The team can speak in more than 15 languages including English, Arabic, Bengali, Spanish, German, Russian, Chinese, Bulgarian, Urdu and Greek, and it can be accessed via live chat, phone, or email. The firm also offers a broad array of online educational and training materials, all supplemented with https://lexatrade.name/en/ ample and current market research. LexaTrade is safe and reliable broker and the conditions are good for me! You can get your money in no time – much faster than within the declared 24 hours, almost in several minutes. During new release you are not allowed to carry out any operations otherwise there is a chance to lose the profit gained within such orders. So, in general experience with LexaTrade is more likely positive than negative.
- At the time of writing, there are no bonus- or promotional offerings advertised on the LexaTrade website.
- The platform supports one-click trading and offers 30 technical indicators, such as Elliott Wave patterns, nine timeframes and a range of charts, graphical tools and order options.
- The articles are feature-rich and can be of value to beginner traders as well as more advanced traders.
- LexaTrade doesn’t mention which ECB bridge they use which suggests that they don’t use one at all.
- Another higher grade account offers even lower spreads from o pips respectively, which is a raw interbank spread where all trading costs are built into a commission charge.
- At the time of writing, LexaTrade doesn’t offer any no deposit bonuses, welcome deals or rebate promotions.
As for the minimum deposit amount, it does depend on the account type you are planning to trade with, also according to the entity conditions since there are different deposit requirements. Professionals from any jurisdiction yet may access high leverage once the status is confirmed. But always make sure to learn how to use leverage smartly, as this tool may work in reverse too and increase risks dramatically big. Leverage levels or a possibility of the broker to offer you q loan that may increase your trading size and potentially magnify your profits is always defined by the regulatory restrictions in each jurisdiction. All clients’ funds are held in segregated accounts while separated from the company’s funds.
According to the official website of the broker, the CySEC license number is 124/10 and it acquired it in October 2010. Every CySEC licensed broker can provide brokerage accounts to traders who are within a European Union country which adheres to the MiFID regulations which were passed by the European Parliament. A CySEC broker is also a member of the Investors Compensation Fund which means a trader’s account is protected by up to 20,000 Euros if such a broker becomes insolvent.
The research package is divided into LexaTrade WebTV, Technical Analysis, Fundamental Analysis and Weekly FX Reports. The research team is led by Head of Investment Research Stavros Tousios. The quality of the presentation is great and Forex traders can easily navigate through what interests them. The podcasts are also a great feature which is very popular, especially with younger traders. LexaTrade also charges “storage fees” on certain assets which is rather disappointing.