Lexatrade Review Of Forex And Binary Options Broker
Content
Lexatrade is one of the largest European Forex and CFD brokers; it is operated by Lexatrade Holding PLC, registered in Cyprus. The company meets most modern standards and offers quality services for traders of all levels.
The only difference is that binary options do not include buying and selling but rather predicting or gambling on the market outcomes. This Lexatrade review is about the Lexatrade broker who offers both, options and lexatrade forex broker Forex trading. The broker took its chance to broaden the variety of choice and is doing great in the competitive industry. You can safely trust Lexatrade with your money because they are regulated by the CySec.
Lexatrade Review Summary
As you’d imagine from a site specializing in forex, they offer all major currency pair CFDs, a great selection of what are known as minor pairs, and the site also boasts a selection of exotic pairs too. They offer everything from forex and commodities to indices, shares and even cryptocurrencies. One of my favourite facets of the app however is the ability to view real-time news through the app. I feel like Lexatrade have included all the important features, without overdoing things and making the platform unnecessarily complex. The Trading Academy offers a wide variety of resources including long-form blog posts, beginner, intermediate and advanced video courses and more. However, as I mentioned earlier, the site does lend itself more towards already competent traders, as opposed to complete beginners. The Classic Account has a minimum deposit of $100, the VIP Account $3,000 and the Raw Account $5,000.
Inactivity is when the client has not opened or closed trade and has not made any transactions. The fee is a minimum of 25 € and a maximum of 49.90 € high (10% of the account balance). In summary, the fees are manageable and not significant to most traders. Lexatrade offers its own developed trading platform for the browser and the smartphone. The well-known Metatrader is also available in versions 4 and 5 . Thanks to the clear platform, independent analyzes can be carried out easily and with the app, you can keep an eye on your portfolio at all times.
Top 3 Forex Brokers 2020
I was pleased to see the trading platform is also registered with the investor compensation fund – adding yet another level of trustworthiness. One of the first indications that Lexatrade is geared more towards experienced traders rather than beginners is the minimum amounts required to actually open an account. Forex and CFDs are complex instruments and involve high risk of losing money.
An uncluttered and clean view of the interface makes trade easier. Moreover, the website has powerful analytical and graphical depictions of the ups and downs of the trade, which makes sure that the assessment becomes more comprehensive. Assets are traded like assets including Forex pairs, indices, equities, commodities, cryptocurrencies. Since the approach of the company establishment comes from Switzerland, its strong basis is confirmed by the great environment the company built.
We would like to inform you that it is your responsibility to always keep your username and password confidential and ensure that third parties do not obtain access to your trading account. We will not be liable for any transactions and/or contracts executed by a third party in your trading account if you have willfully or accidentally provided such third party with your login credentials. If you know or suspect that someone has used or is using your registration information, username or password to access any service without your authorization, you should notify our Client Support immediately. 100$ is the min deposit for the Lexatrade Webtrader platform. Lexatrade trading platform is as legal as any other trading platform, in fact, its higher regulation makes it more much more secure from illegal handling of trade. As the broker mentions it is always aiming to give withdrawal service within 24 hours, yet this is applicable towards working business days, as on weekends or holidays it may take longer to proceed. At Lexatrade you may choose from leading Shares, Indices, Forex, Commodities, and Cryptocurrencies based on CFDs and ETFs on shares.
Variable Leverage For European Traders
Lexatrade can also cater to more sophisticated traders with its other 3 account types, which offer access to more competitive pricing and advanced trading tools. DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money.
Additionally there are a number of experts who contribute their own daily insights into the most important news of the day, as well as giving a behind the scenes view of financial markets. Lexatrade is definitely not a stranger to anyone who’ve sampled the binary options craze of the last few years. As the binary options market dried up, many brokerages chose the path of regulation and Forex/CFDs. Many traditional forex brokers have recently created subsidiaries that are their entries into the thriving world of binary options, after waiting a few years to see if the trend was real. Banc de Swiss or Lexatrade.com, as its website address proclaims, however, is one binary broker that chose to use this strategy in reverse. Now that you’ve completed the two steps above, it’s time to start actually trading for real.
Some clients say their funds are kept for months for various reasons and to add more fuel to the fire, Lexatrade then charges inactivity fees on those accounts. Of course, take everything with a lexatrade rezension pinch of salt because we cannot know all the details of the cases, thus we cannot decide which party is in the wrong. A demo account is very important for beginners and experienced traders.
Since its founding, the broker has managed to prove its competence, establish a reputation, and win top positions in various ratings. You can get acquainted with Lexatrade by opening a free demo-account or starting on a real account with smaller sums of money to get the feeling of the real market. Newcomers seeking more experience are also welcome to the platform thanks to demo accounts. Beginner demo account holders come to know about things or two about Lexatrade trading through the same.
Lexatrade found its home in one of the most prominent neighborhoods in Nicosia, Cyprus, and runs its successful business operations from there. The broker is equally successful with binary options as with Forex.
Lets explore each of these trading platforms in detail and what options Lexatrade gives you. Be aware that Different entities under Lexatrade Brand offer different trading instruments due to regulatory restrictions. Trading instruments offered may differ based on the country of residence of the Client. A brokerage may make most of their revenue from charging registered traders a commission fee on client transactions.
The ‘Assets’ section on the broker’s website provides the opening and closing hours for each asset type. Lexatrade offers versions of both Metatrader4 and MetaTrader5 suited to various devices including PC, Mac, App, or Web platforms that require no installations. Yet you can download the desktop version for those platforms and use its full capability, which is more required by active or professional traders. Lexatrade offers trading in a wide range of assets via its beginner friendly web and mobile platforms, as well as offering the popular MetaTrader platform. In an attempt to align to the trend of cryptocurrency trading, Lexatrade now offers Contracts For Difference on 20+ coins, including Bitcoin, Litecoin, and Ethereum. The minimum trade size is 0.1 lots and the maximum is 1 lot per position.
It gives you the chance to overlay a number of analytical studies and provides you with daily account statements too, so you’re always in the loop regarding how you’re getting on. I especially like their “Forex Glossary” which is basically an A-Z of all forex-related terminology you’ll come across when trading forex. They also have been authorised as an approved investment dealer by the FSC and have regulatory approval to operate in Germany. You will then need to accept the site’s terms and conditions and confirm your phone number (with a 4-digit security code that is texted to your device). The main registration page is simple and easy to complete, and you’ll need to enter your first and last name, country of residence, phone number and email, as well as create a password. You will then see an “Open” button below each account type, allowing you to open that specific account. If you prefer MetaTrader technology Lexatrade MetaTrader5 is packed with additional tools and supporting multiple languages, also available across all devices on Windows, Mac, and Mobile Apps for Android and IOs.
The conditions for the trade are compared in the upper average and can be recommended with a clear conscience. On average, however, spreads are 0.3 pips in forex and less than 1 point in stock indices. For better spreads, you can activate the VIP account or use the RAW Spread account . Overall, you can trade over 1,000 different assets/markets at Lexatrade. There are commodities, currencies, stocks, cryptocurrencies, and more available.
Markets
With all that said, It hard to resist calling it a modern broker deserving attention of serious traders. I love the customer service that they have because there is rarely long waiting time and they are helpful and quick. I was really impressed to see Lexatrade offering phone support in no less than 13 different languages and each language has its own phone number.
The proprietary WebTrader platform is user friendly but lacks some popular features, which pulled down the score in the platform category. Lexatrade shined in the areas of customer service, education and research. This website is for general information purposes only and is operated by Lexatrade AG. Lexatrade AG is the Lexatrade Group’s Holding Company domiciled in Grienbachstrasse 11, 6300, Zug, Switzerland. lexatrade cheating Lexatrade AG does NOT offer any financial products or services. 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.
- Leverage, known as a loan given by the broker to the trader enables you to trade through the multiplied volume that may raise your potential gains, yet in reverse increases high risks too.
- Am very upset about my experience and i will not recommend anyone to go to Lexatrade and I am still shocked the traders advised me to trade with over 50% of my balance, I have had the worst experience ever.
- If you want to test the platform and ensure that it ticks all of your boxes for mobile trading, then visit the website on whatever device you are using and have a look for yourself.
- We tested the spreads at Lexatrade across different asset classes in a live account using the WebTrader platform.
- Lexatrade offers a number of assets to be traded on MetaTrader 4, MetaTrader 5, Lexatrade webtrader and its mobile app.
- You can conduct your trades using one of the desktop traders, the webtrader or the award-winning Lexatrade mobile trading app.
Available index instruments at Lexatrade range from the HKG50 to the FRA40. A stock index is a basket of shares that is used to gauge a market sector, stocks within an exchange or the economy of a country. Regulated by 1 top tier agency , but they are no longer accepting EU clients. In our tests for the Trust category we also cover factors relating to stability and transparency. Here, we focused on how long the broker has been in business, the size of the company and how transparent they are in terms of information being readily available. Visit our methodology page to learn more about our review and rating process. Traders outside the EU are regulated offshore, offering low protections.
Leverage, known as a loan given by the broker to the trader enables you to trade through the multiplied volume that may raise your potential gains, yet in reverse increases high risks too. So firstly you should learn how to use tools smartly, also various regulatory standards and restrictions set a particular allowed level of leverage that is considered to be safe. For example, the two budget options seem to be the fairest but lack assets. On the other hand, luxury accounts have surprisingly good specifications but get ruined by the introduction of fees.