LexaTrade: Getting Into the Meat of an Honest Broker

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LexaTrade is a promising, actively developing broker. It offers a wide range of services to users. It is suitable for everyone. Here you can train as a beginner and sharpen your strategies if you are an experienced Forex trader. 

According to documents on LexaTrade official site, it is an officially registered company. It operates under the Swissone Group Ltd., which is based within St. Vincent and the Grenadines. The financial work of the broker complies with the requirements of FMRRC (Financial Market Relations Regulation Center). 

Registration in offshore zones for some traders is a red flag. But then, it must be noted that the success of trades is not necessarily reliant on the type of broker that a trader enlists but on strategies that they employ. And for sharpening and improving strategies,the broker offers many possibilities and tools.

Keep reading the LexaTrade rezension to know more about Forex broker, its services, and real reviews on work. In our review, we will answer the question of whether the LexaTrade scam or not. 

lexatrade main page

Overview of LexaTrade Accounts and Fee Structures

LexaTrade offers five trading accounts. This number allows you to choose the appropriate variant according to your professionalism, budget, and needs. You can find more detailed information on each account on the LexaTrade website, and in our review, we prepare a comparison table.

So, LexaTrade Forex broker offers:

  • Start Account with $250 deposit;
  • Silver Account with $3,000 deposit; 
  • Gold Account with $10,000 deposit ; 
  • Platinum Account with $50,000 deposit;
  • VIP Account with $100,000 deposit.

Before pouncing at the steep costs that each trading account requires, let us first look at each feature and offer. Let’s consult the table below:


OFFERS

ACCOUNT TYPES

START ($250)

SILVER ($3,000)

GOLD($10,000)

PLATINUM($50,000)

VIP($100,000)

Bonus

30%

50%

70%

90%

120%

Withdrawal Speed 

Standard

Standard

Medium 

High

Highest

WEB platform training 

Yes

Yes

Yes

Yes

Yes

Financial Analyst

No

Yes

Yes

Yes

Yes

Account analysis with financial analyst

No

Once a week for 30 minutes maximum

Once a week for 1 hour maximum

Once a week for 2 hours maximum

Customized schedule

Trading techniques

No

1 technique

2 techniques

Advanced techniques

VIP Techniques

Trading academy

No

No

Introductory lecture 

Half of the training course

Full course with diploma

Passive Income

No

No

Limited

Standard 

Privileged

MT4 platform

No

No 

WEB MT4

Yes

Yes

Investment portfolios

No

No 

Standard Yield

Average Yield

Higher Yield

Webinars

For novices

For novices

Webinars on major economic events

Free access to paid webinars

Private VIP webinars

Work with VIP analyst

No

No 

One-time communication

Communication once a week

Individual work

Currency trading

Yes

Yes

Yes

Yes

Yes

Cryptocurrency trading

Yes

Yes

Yes

Yes

Yes

Commodity trading

No

Yes

Yes

Yes

Yes

Trading in stock assets

No 

No

Limited version

Yes

Yes

VIP trading instruments

No

No

No

No

Yes

Participation in focus groups and emergency response teams

No

No

By invitation

By invitation

Priority participation

Special offers from a broker

No

No

Limited version

Yes

Yes

Trading based on the Earnings seasons

No

No

Limited version

Customized portfolios

Assisted by a VIP analyst

Spreads

Standard

Standard

Reduced

Low

Minimum

Investor conference participation

No

No 

No

No

By invitation

These specifics are welcoming with consideration to the specific costs of each account. However, certain things jump out of the frame upon considering the correspondence of cost and specific offerings. These are as follows:

  • Non-access to Trading academy and MT4 platform for the Silver Account;
  • Provision of only the Web version of MT4 for the Gold Account;
  • Limited version for trading in stocks with the Gold Account.

Analyzing LexaTrade accounts, you can see a low-cost account suitable for beginner traders, users who are just getting acquainted with the broker, and accounts with a large deposit and lots of additional options. Don’t worry about it, because you can’t make a big profit in Forex trading without investment. Unfortunately, LexaTrade forex broker does not offer a demo account, where beginners can make their first steps in trading, and professional traders improve strategies. It is not a major shortcoming, but it may, to some extent, discourage some users. 

LexaTrade’s Available Platforms

Trading platform is as important as an account. LexaTrade Forex broker makes three platforms available to its clients:

  1. LexaTrade Web platform;
  2. xCritical Mobile platform;
  3. MetaTrader 4.

It should be noted that they all have a good track record and are used globally. Let’s look closer at each of them.

LexaTrade Web Platform

This web platform is a combination of speed, high-tech functionality, and profitability of the terminal. LexaTrade’s Web platform is trading software with four observable advantages:

  • Wide range of tools. Platform has over 170 trading instruments, including well-known stocks and indices, precious metals, and energy products.
  • Timely Risk Management. Platform allows fixing of profits and limiting potential losses within a timely manner.
  • Full control of transactions. Through the LexaTrade platform, each trader can work with open and closed deals and easily limit orders. One is also given the capability of viewing all trades through a singular instrument.
  • Best trading solutions. Through the LexaTrade platform’s employ of the technical adviser, Autochartist, traders are given efficient methods of Technical Analysis to make more profitable decisions.

This platform has a clear interface and simple navigation. It fully meets the expectations of even professional traders and is not inferior in functionality to popular MT4.

xCritical Platform 

xCritical platform is favored by 8 out of 10 traders in the Forex trading industry. Through its mobile platform, LexaTrade users can experience the myriad of tools that the PC version had, including several trading signals and a highly-intuitive and neat interface. xCritical mobile platform is an alternative to PC terminals. It is easy to use, always at hand, so you can work from any point.

MetaTrader 4 

MetaQuotes’ flagship offer, MetaTrader 4 (MT4 platform), is simply one of the most efficient trading software available in the market. Platform has an easy-to-navigate interface and has a generous number of trading tools. Through LexaTrade, traders are provided with an MT4 web terminal that permits them to trade safely through its technology without downloading it.

LexaTrade’s provision of these platforms allows for good options for transacting their trades. Even without LexaTrade’s proprietary platform, MT4 and xCritical platforms are enough to render good trading conditions to create strong investment portfolios. 

LexaTrade: Broker Social Media Reviews

Subscribing to Social Media might not be the best idea to get an impression about the broker LexaTrade. The fact of the matter is, going to sites like Facebook will only prove to be one frustrating affair. Accusations of fraud and scam not only against LexaTrade but also with many brokers. It is commonplace to read comments on your favorite social media platform and web forum.

Given the nature of these sites, LexaTrade broker reviews and comments lodged through Social Media range from the uninformed to mere bias. Given platforms are simply a free-for-all, just about anyone, regardless of education and inclination, can post whatever their ill-conceived experiences allow them to. That is why, if you only choose the Forex broker, make your decision based only on verified official information.

Here are a few of these reviews which were posted on LexaTrade’s own Facebook page:

Sudha Navin, on September 2021, says:

It’s a scam. Please don’t put your hard-earned money into this. With fake marketing they tell you, you get insurance, less risk, etc. You can’t withdraw once invested. Everything is fake!

Amit Photon on October 2021 says:

Try to be open before inviting someone.

I lost all of my saving in this…. As I could have told early, this is how forex trading would have never gone….

Gideon K. Birgen on March 2021 says:

SCAM!! SCAM!! Alert, be careful, guys.

Ugochi Obianodo on March 2021 says:

Scam!! You can’t make a withdrawal!!

These online venues are unfiltered and, at times, uninformed and misguided. Unsubstantiated LexaTrade reviews in social media cannot be grounds for an objective assessment of broker work. 

However, LexaTrade reviews found online do not always lean toward negative. There are also broker review sites that speak well about the broker. Most of these positive reviews describe bonuses and promos. 

Regarding the alleged LexaTrade cheating, one site says:

Saying LexaTrade scammer is inappropriate because, for premium customers, the developers have provided several profitable offers, ranging from commission for deposits and ending with the methods of withdrawing funds from account. Traders who have reached this state have more points, trade without restrictions on the number of transactions, have access to funds, and have the opportunity to defer payment.

A trader had made it a point to highlight the commissions and capability of the LexaTrade client to trade bereft of constraints. User furthers LexaTrade’s claim to legitimacy through an added statement:

Saying LexaTrade cheating is inappropriate because each user has a personal or investment manager who will help you find a profitable way to invest and discuss favorable conditions for customer service managers.

But of course, with the online reviews altogether polarizing, how does one filter the truth from fabrication? Such will prove to be a daunting task. 

As already mentioned, relying solely on Social Media is a practice on futility as one would only be led to mere opinion and hearsay. Even if LexaTrade forex brokers reviews outline specific details, traders’ experiences vary from one another. At times, it is only highly likely that these are fuelled by 2 things:

  1. Complete understanding of how the trading industry works;
  2. Complete ignorance of how the trading industry works.

Practicing due diligence is greatly recommended. You can communicate with people who trade on the LexaTrade platform or sign up for actual live LexaTrade accounts.

LexaTrade Real Reviews: What the World Wide Web is Saying

Now we will give reviews that can be found upon organic search of LexaTrade reviews. Here, comments are quoted directly without analysis. The readers are only given an idea of what the online trading community thinks of a LexaTrade broker. 

Oleferev Evgeny Igorevich, St. Petersburg, says:

Everyone should understand how to distinguish a good broker from those that are often considered scammers and why forex is a scam. We present your user reviews according to the rating of a broker.

If, in general terms, the company works honestly, I would not say that there are some illegal actions. If there is a drain, then it is the fault of the current customer who could not calculate risks and got into a situation when deposit is squeezed to the margin stake and can ultimately fly out by stopping out, now volatility is very high. It is unnecessary to wait for some news, and the market is moving unpredictably.

I have been trading on the market for five years, of which almost two years on LexaTrade. There have never been problems with the broker. I am comfortable working with them. I go to the LC only to withdraw funds. The terminal works well; the connection is stable. There were no performance problems or disputes.

Stepanova Irina Viktorovna, Kislovodsk says:

I consider LexaTrade a reliable and conscientious company. I’m not exaggerating anything. Only with him can I earn and withdraw money. Forex Broker attracted me precisely with this – in all reviews about LexaTrade, it is distinguished by the reliability and honesty of the company. Of course, there are questions, but everything is successfully resolved after correspondence with tech support. We continue to cooperate further.

Trading conditions, if not the best, then some of the best, there have never been any hitches with execution, so that the connection disappears, too, is not seen. There is a slight glide, but I didn’t notice a serious one; on EUR / USD, there can be a glide of a maximum of 1-2 pips and then on serious news. And even on m1 you can scalp. The output without any problems of any amounts.

Anatoly, 32 years old, Moscow, says:

I have been working with LexaTrade broker for six months now. I learned about the company much earlier, but I came across a network about the negative about it. In comments on one forum, I read the information that «LexaTrade courses scam,» fraud, etc. Therefore, I was afraid to open an account there. Then he learned from a friend working with this company that all this is complete nonsense. As a result, I opened an account there, on which I have been trading for six months. In principle, everything suits me. The platform works stably, occurs smoothly and quickly. What else is needed for profitable trading? I recommend the broker to everyone.

Talking about any fraud and scam allegations, the website “Forex History” has something interesting to say:

Most likely, these reviews were written by the company’s competitors. LexaTrade review on the site ends with a section with links to the company’s documentation. As expected, its website is trustworthy and doesn’t contain any lies, but unfortunately, many inexperienced users believe that Lexa Trade is a scammer because they meet negative LexaTrade customer reviews.

There is also a certain affiliate program on the site, which helps customers to bring new users, promising them a bonus in return. Here, we also can’t speak about LexaTrade fraud.

Collaboration of LexaTtrade with social networks proves that the company is reliable and tries to save trader’s money. Some negative reviews exist, but they are likely to be ordered by competitors because there aren’t any photos. On the LexaTrade website, everybody can have a personal profile. Also, some other people can act through your LexaTrade login.

Look at one more LexaTrade forex brokers review by Phillip from the UK. It is a good example of unfounded accusations. Trading is a very high-risk job, which rests entirely on the trader. If you are a beginner or your strategy is not precise, there is a high probability of loss, and it is not the broker’s fault.

Lexatrade isn’t what you think. This broker is a scam. It was my first experience. I spent several hours choosing the broker. At first, I liked that the broker has a wide choice of accounts and has educational material. But then I lost more than $2000 during two months. Support desk doesn’t answer for a long time, and no one’s gonna pay me back.

One more thing, I found out that brokers registered in offshore countries such as the Marshall Islands or Saint Vincent and The Grenadines, and this threatens me. Guys, don’t invest too much here.

Through a Facebook thread on LexaTrade’s own page, a man by the name of Ugochi Obianodo, being involved with banter with a certain Amar AC who seem to be defending the brokerage, said:

Amar AC I deposited $500 traded and made profit of $500, making it a total of $1000. I tried withdrawing $500, but they refused my withdrawal said I have to trade upto $100,000 before my withdrawal request will be accepted. How insane!!! Of course they know it’s quite very hard to trade up to $100,000 with just 500 without losing all your money! THEY ARE BIG SCAM PLS DO NOT TRADE WITH THEM!

It must be stressed that all LexaTrade reviews above were taken from existing, legitimate review sites. We listed lots of them not to confuse traders but to give a weighted and fair viewpoint on the brokerage. As this is the case, the traders are advised to take all claims quoted here with a grain of salt. Despite all reviews, it is strongly recommended to make decisions and build a strategy independently. As your success in the forex market depends only on you.

Trading with LexaTrade: Takeaway

Reading this LexaTrade review permits interested traders and companies with the brokerage to gain a perspective of LexaTrade. If it had not been made clear yet, believing the tags such as “LexaTrade courses scam” and “LexaTrade cheating” is simply oversimplifying one’s understanding of how brokering works. It is possible that LexaTrade had been misunderstood and misrepresented in new media.

As you can see, saying LexaTrade scammers is completely unfair. This review had delineated clearly to its readers these pertinent points:

  1. LexaTrade offers a wide array of services, platforms and products that allow for good trading conditions and building of strong and impressive investment portfolios.
  2. New traders and experienced traders can work here. Webinars, educational materials, consultations help not only beginners to learn trading, but also professionals to develop and improve strategies.
  3. LexaTrade, while not being regulated, seeks the greater security of their clients’ funds through its offering of reliable trading platforms, namely its proprietary platform and the industry-trusted MT4 and xCritical.
  4. Trader’s success is not necessarily reliant on the brokerage that he or she enlists, but through trading strategies used. 

With these in mind, the allegations that someone was scammed by LexaTrade are seen as baseless and may simply be seen as the traders’ ignorance of how trading actually works. 

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