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Score

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/10
The WikiFX Score of this broker is reduced because of too many complaints!

LexaTrade

Saint Vincent and the Grenadines|2-5 years|
White label MT4|Regional Brokers|High potential risk|

https://lexatrade.com/

Website

Rating Index

MT4/5 Identification

MT4/5

White Label

SwissoneGroup-Demo

United Kingdom
MT4
2

Influence

C

Influence index NO.1

Germany 3.56
The WikiFX Score of this broker is reduced because of too many complaints!

MT4/5 Identification

MT4/5 Identification

White Label

2
Server Name
SwissoneGroup-Demo MT4
Server Location United Kingdom

Influence

Influence

C

Influence index NO.1

Germany 3.56

Surpassed 83.89% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+44 2037697663
support-en@lexatrade.com
https://lexatrade.com/
Beachmont Business Centre, Suite 39, Kingstown, St. Vincent and the Grenadines

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

English

+44 2037697663

Broker Information

More

Company Name

Swissone Group Ltd

Company Abbreviation

LexaTrade

Platform registered country and region

Saint Vincent and the Grenadines

Company website
Facebook

Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away! 2
Previous Detection : 2024-06-25
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 4 for this broker in the past 3 months. Please be aware of the risk!

WikiFX Verification

LexaTrade · WikiFX Survey

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LexaTrade · Company Summary

Note: LexaTrades official site - https://lexatrade.com/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

Risk Warning

Online trading is dangerous, and you could potentially lose all of your investment funds. Not all investors and traders are suitable for it. Please understand that the information on this website is designed to serve as general guidance, and that you should be aware of the risks.

General Information

LexaTrade Review Summary
Registered Country/Region Saint Vincent and the Grenadines
Regulation No regulation
Trading instruments Forex pairs, commodities, stocks, cryptocurrencies, indices
Trading Platforms MT4, xCritical
Demo Account Available
Minimum Deposit $250
Maximum Leverage 1:200
Minimum spread 1 pip for EURUSD
Customer Support Email/ phone number/ live chat

What is LexaTrade?

LexaTrade is an offshore broker registered in Saint Vincent and Grenadines, currently has no any regulations.

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on.

LexaTrade's home page

At the end of the article, we will also briefly summarize the main advantages and disadvantages so that you can understand the broker's characteristics at a glance.

Pros & Cons

Pros & Cons
Pros Cons
• MetaTrader 4 (MT4) supported • Lack of valid regulation
• Diverse trading accounts • Website is closed
• Provides support for expert advisors (EAs) • Reports of Withdrawal Issues and Scams
• Multilingual Customer Service • High minimum deposit requirement
• Wide range of trading instruments
• Demo accounts available

LexaTrade Alternative Brokers

There are many alternative brokers to LexaTrade depending on the specific needs and preferences of the trader. Some popular options include:

  • Plus500 - A CFD service provider that offers a simple, user-friendly platform and a wide range of tradable instruments, making it suitable for those interested in CFD trading.

  • Forex.com - As a leading forex broker, it provides a wide range of currency pairs, a robust trading platform, and high-quality research tools, making it an excellent option for forex traders.

  • XTB - Known for its combination of educational materials, comprehensive market analysis, and a custom trading platform, it's an excellent choice for new and experienced traders alike.

Is LexaTrade Safe or Scam?

It is important to note that LexaTrade currently operates without any valid regulatory oversight. This lack of regulation raises concerns about the safety and legitimacy of the broker. Additionally, there have been reports of customers experiencing difficulties when attempting to withdraw funds, along with allegations of fraudulent practices. And the website can not open. These factors contribute to a higher level of risk and suggest caution when considering LexaTrade as a brokerage option.

Market Instruments

LexaTrade provides its clients with a wide range of trading markets, allowing them to access various financial instruments and assets. Traders have the opportunity to trade in different markets, including currency pairs, indices, commodities, metals, energy products, and stocks.

Market Instruments

Accounts

LexaTrade provides different account options to cater to varying trading needs. The account types offered are as follows:

Account Type Minimum Deposit
VIP $100,000
Platinum $50,000
Gold $10,000
Silver $3,000
Start $250
  • Start account: This account requires a minimum deposit of $250. It is the most basic account option available, offering limited features and services.

  • Silver account: The Silver account requires a minimum deposit of $3,000 and offers additional benefits compared to the Start account, such as enhanced trading conditions.

  • Gold account: With a minimum deposit requirement of $10,000, the Gold account provides further advantages, including priority customer support and access to additional trading tools.

  • Platinum account: The Platinum account requires a minimum deposit of $50,000 and offers even more features, such as personalized trading strategies and premium support.

  • VIP account: The VIP account is the highest-tier option with a minimum deposit requirement of $100,000. It provides exclusive benefits like custom-tailored trading solutions and top-tier support.

All account types offered by LexaTrade support the use of expert advisors (EAs), automated trading systems commonly used in the Forex market.

LexaTrade also provides a demo account that allows you to try out the financial markets without the risk of losing money.

Account Types

Leverage

The leverage of 1:200 supplied by LexaTrade is adequate for the ordinary trader, despite the fact that some brokers offer leverage of up to 1:500 or even 1:1000. This is due to the fact that you run a greater financial risk the more debt you have. Even experienced traders shouldn't be enticed to utilize leverage more than 1:500, let alone beginners. Leverage allows traders to control larger positions in the market with a smaller amount of capital. While this can amplify potential profits, it also amplifies potential losses. Higher leverage increases the risk of substantial losses, particularly if trades move against the trader's position.

Spreads & Commissions

The spreads of various instruments on various platforms may be readily compared and enquired about by clients using the complete spread table that LexaTrade offers. The VIP account offers the most affordable spreads, as can be seen. For AUD/CAD, the Mini spread is 3.8 pips, the Standard spread is 3.3 pips, The Silver spread and the Gold spread are 3 pips, and the Platinum spread is 2.3 pips. It is important to mention that there was no specific mention of commission-related details for LexaTrade.

Spread Table

Trading Platforms

LexaTrade provides its clients with two trading platform options: MetaTrader 4 (MT4) and xCritical. Both platforms offer distinct features and advantages, allowing traders to choose the one that best suits their preferences and trading needs.

MetaTrader 4 (MT4) is a highly popular and widely used trading platform in the forex industry. It is known for its comprehensive charting capabilities, advanced technical analysis tools, and customizable interface.

xCritical, on the other hand, is a web-based trading platform that offers traders the convenience of accessing the markets without the need to install any additional software. As a webtrader, xCritical can be accessed through a web browser on desktop computers and mobile devices.

Trading Platforms

See the trading platform comparison table below:

Broker Trading Platforms
LexaTrade MT4, xCritical
Plus500 Plus500 WebTrader, Plus500 Mobile App
Forex.com MT4, Forex.com Web Platform, Forex.com Mobile App
XTB xStation 5

Deposit & Withdrawal

LexaTrade is ambiguous about how deposits and withdrawals work, and we can only get come basic information in the refund policy page. The minimum withdrawal amount is 50 USD, and if a client withdraws the money without realizing 5 independent transactions, LexaTrade will charge a 5% fee.

Refund and withdrawal policy

User Exposure on WikiFX

On our website, you can see reports of unable to withdraw and scams. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section. We would appreciate it and our team of experts will do everything possible to solve the problem for you.

User Exposure on WikiFX

Customer Service

Below are the details about the customer service.

Language(s): English, Polish, Spanish, German, Korean, Vietnamese, French, etcetera

Service Hours: 24/7

Phone number: +79651435964, +442037697663, +911171279585, +23414400125

E-mail: support-en@lexatrade.com , customers-en@lexatrade.com

Skype: support.en@lexatrade.com

Сlaims department: dispute@Lexatrade.com

contact details

Educational Resources

A series of educational resources is available at LexaTrade, such as economic calendar, expiry date of futures, trading hours, compound interest calculator, etcetera. These educational resources provided by LexaTrade aim to empower traders with valuable information and tools to make informed trading decisions.

Educational Resources

Conclusion

LexaTrade is an unregulated brokerage firm based in Saint Vincent and the Grenadines. It offers multiple account types with varying minimum deposit requirements, all supporting the use of expert advisors. The broker utilizes the MT4 trading platform, a popular choice among traders.

However, it is crucial to exercise caution when dealing with LexaTrade due to its lack of regulation and numerous reports of withdrawal issues and potential scams. Traders considering LexaTrade should exercise caution and thoroughly assess the risks involved. It is crucial to conduct independent research, seek clarification from customer service, and carefully evaluate the terms and conditions before engaging in any trading activities. Understanding the potential risks and limitations associated with LexaTrade can help traders make informed decisions and manage their investments responsibly.

Frequently Asked Questions (FAQs)

Q1: Is LexaTrade a regulated broker?

A1: No, LexaTrade currently operates without any valid regulatory oversight.

Q2: What are the minimum deposit requirements for LexaTrade accounts?

A2: The minimum deposit requirements vary depending on the account type, ranging from $250 to $100,000.

Q3: Can I use expert advisors (EAs) with LexaTrade?

A3: Yes, all types of accounts offered by LexaTrade support the use of expert advisors (EAs) for automated trading.

Q4: What trading platform does LexaTrade use?

A4: LexaTrade utilizes the MetaTrader 4 (MT4) trading platform and xCritical platform.

News

WIKIFX REPORT: LexaTrade: Getting Into the Meat of an Honest Broker

NewsWIKIFX REPORT: LexaTrade: Getting Into the Meat of an Honest Broker

2022-05-31 17:54

Not everything you see on the internet is trustworthy. For what it's worth, the internet community is rife with lies and falsified news. The term "Fake News" has been splattered on the online Metropolis for a reason.

WikiFX
2022-05-31 17:54
News
WIKIFX REPORT: LexaTrade: Getting Into the Meat of an Honest Broker
WIKIFX REPORT: How To Connect To Lexatrade Via Quantower

NewsWIKIFX REPORT: How To Connect To Lexatrade Via Quantower

2022-05-31 17:47

There are also Islamic swap-free accounts and a sample trading account available. You can also select the regulator with which you want to trade. This is a fantastic service that covers all of the key markets and asset classes.

WikiFX
2022-05-31 17:47
News
WIKIFX REPORT: How To Connect To Lexatrade Via Quantower
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2022-04-08 15:58

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U.S. REGULATOR MANDATES BANKS TO APPLY FOR PERMISSION BEFORE DEALING WITH CRYPTO ACTIVITIES

NewsU.S. REGULATOR MANDATES BANKS TO APPLY FOR PERMISSION BEFORE DEALING WITH CRYPTO ACTIVITIES

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U.S. banks are required to acquire written permission from their bank supervisors before engaging in certain activities that involve cryptocurrency, a key regulator stated on Tuesday.

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2022-02-18 14:39
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U.S. REGULATOR MANDATES BANKS TO APPLY FOR PERMISSION BEFORE DEALING WITH CRYPTO ACTIVITIES

User Reviews

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User comment

9

Comments

Write a review

cecill63535
more than one year
Please ….Pl…Pl…do not invest with this scam master comapny. I have invesed USD16,000 with their plateform, got good profit, when I asked for withdrwl they simly vanish. They change my account manager 4 times in 6 months, now nobady can be seen online (Skepe). Their customer care Nos are there on website to make you full.They never picked phone.Please stay away from this fraud company.
2023-05-15 07:00
1
0
0
Bandu
more than one year
Please ….Pl…Pl…do not invest with this scam master comapny. I have invesed USD16,000 with their plateform, got good profit, when I asked for withdrwl they simly vanish. They change my account manager 4 times in 6 months, now nobady can be seen online (Skepe). Their customer care Nos are there on website to make you full.They never picked phone.Please stay away from this fraud company.
2023-04-01 20:09
Reply
0
0
Jeff ilsert
more than one year
Lexatrade is the worst broker I have ever invested with, I l0st cl0se to $25k, am happy I was able t0 get refund fr0m, Globaltraderecovery. net, forever greatful mas0n
2023-02-22 18:12
1
8
3
Lion Pai 白舜元
more than one year
LexaTrade is totally a scammer! Don’t invest in a single penny! They provide me bad trading signals, making me losing money all the time. This platform is so frustrating!
2023-02-20 09:27
Reply
0
1
FX1200298532
more than one year
Live chat just keeps stalling me not answering anything at all. I think they will just steal my money and I will never be able to withdraw. I will be 100% sure to stop trading with these fraudsters!!
2023-02-14 14:21
Reply
0
1
Richard 5826
more than one year
I'm so proud of this company called Globaltraderecovery. net They satisfy everyone by helping you fight your case with your scam broker with ease, A lot of people are giving testimonies on how they get back their money through this company, I have to contact the above company website too, and now am very happy I got back all my money back with the help of global trade recovery company, my lost investment is back to my account … amazing service.
2022-12-08 23:29
Reply
12
5
RBi
more than one year
lexa trade is good broker is very nice to people relax on them
2022-12-07 16:29
Reply
0
0
5
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