LexaTrade is an online financial services provider that gives traders the opportunity to trade multiple financial instruments via a range of trading platforms. The broker offers a choice of different trading accounts with a minimum deposit requirement of $250. There are several payment methods available for both account deposit and withdrawal purposes.
LexaTrade Review, Pros & Cons
- Various trading platforms
- Multiple trading products
- Educational resources
- Trading tools
- Unregulated broker
- No USA clients
- Minimum $250 deposit
- Not the lowest spreads
- No live chat support
In this detailed LexaTrade review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Operating from Kingstown, Saint Vincent and the Grenadines, LexaTrade is a retail trading broker that offers access to trade multiple financial assets. The broker provides traders with several advanced trading platforms that are available in desktop, web, and mobile versions. Traders also benefit from educational resources, trading tools, and the services of professional client support team. The minimum deposit required to operate a live account is $250, while leverage of up to 1:200 is available.
There is no regulatory information on the broker’s website at the moment. Many experts and professionals would not trade with an unregulated broker as they cannot offer the same protection to investors that a regulated brokerage firm can. Please see our trading broker reviews for alternative regulated brokers.
The broker does not offer its services to traders from certain jurisdictions, including the United States of America, Canada, Turkey, Japan, Bosnia and Herzegovina, Iran, Syria, Uganda, Vanuatu, Yemen, Haiti, Democratic People’s Republic of Korea, and Suriname. To avail of their services, you should declare that you are not a citizen of the aforementioned countries.
Some LexaTrade features and products mentioned within this LexaTrade review may not be available to traders from certain countries because of legal restrictions.
MT4 Trading Platform
This is an advanced trading platform that was developed in 2005 and has since grown to become the platform of choice for most forex and CFD traders worldwide. It is built with a user-friendly interface and has several trading features and functionalities, such as one-click trading, support for automated trading via expert advisors, built-in technical indicators, and more. The platform is available in desktop, web, and mobile versions.
XCritical Trading Platform
This is a convenient alternative to PC trading platforms. It features an intuitive interface, which helps you to get started quickly; comfortable separation of functions that makes the process faster; and the ability to open deals effortlessly. The XCritical trading platform is available as a mobile trading app that is compatible with Android and iOS devices and can be downloaded from the respective app stores.
This is a web-based trading platform that is developed in-house by the broker, and it allows you to trade and invest freely from anywhere on the planet using high-tech functionality and speed. The platform also allows users to work with open and closed deals, charts, limit orders, and more.
LexaTrade Trading Tools
Traders are provided with some standalone trading tools, in addition to those built into the provided trading platforms, to improve their trading experience. Some of those tools include the Autochartist and the Economic Calendar.
The broker’s website is packed with several educational resources that are designed to improve traders’ skills and knowledge. The resources include webinars, economic news, questionnaire, and an education centre that contains over 70 video tutorials, 7 training courses, and E-Books.
The following trading instruments are available at LexaTrade: forex, indices, commodities, and cryptocurrency.
LexaTrade Accounts & Fees
The broker offers several trading account options to meet the individual trading needs of clients. The account types and their corresponding minimum required deposits are as follows: Start ($250), Silver ($3,000), Gold ($10,000), Platinum ($50,000), and VIP ($100,000) Accounts.
As broker fees can vary and change, there may be additional fees that are not listed in this LexaTrade review. It is imperative to ensure that you check and understand all of the latest information before you open a LexaTrade broker account for online trading.
The broker provides traders with a knowledgeable client support team that is available 24/7 to respond to their general, technical, and account-based inquiries. They can be contacted through telephone, email, online form, and social media.
LexaTrade Deposit & Withdrawal
The following payment methods are accepted for both account deposits and withdrawal requests at LexaTrade: bank wire transfer, credit/debit cards, and online payment processors.
LexaTrade Account Opening
To open an account, click on the ‘Start Trading’ button on the homepage of the broker’s website, and fill the registration form, providing all the required information and documents.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the broker’s terms, conditions, and policies. Only proceed if you fully understand and agree to them.
LexaTrade is an online retail trading broker that operates from Saint Vincent and the Grenadines. They provide traders with multiple trading platforms for trading over 170 financial instruments across different asset classes. The broker makes available a selection of useful trading and learning tools and also offers a 24/7 customer support team to assist traders. There are multiple trading account options with a minimum deposit requirement of $250. However, the broker is not regulated by any known financial authority at the moment.
Significant risk is inherent when trading in foreign currencies, carried out on the basis of immediate settlements, forwards, day trading, and options. Before making a deposit and beginning to trade on the LexaTrade server, you should first examine your financial situation. Only trade with capital that is not essential for your life and well-being. This is due to the fact that any trade operations with foreign currency may incur partial or total losses.