Lexa Trade Review: LexaTrade is a forex broker that is supposedly licensed by the authorities of Saint Vincent and The Grenadines. In the review below, we take an in-depth look at the features lexatrade.com allegedly offers. This review answers the questions: is LexaTrade legit? Is LexaTrade good? The review covers aspects of its licensing, its account types, its leverages, its withdrawal, and deposit methods. Read through our review to see what we and other experts have to say about LexaTrades forex broker.
Table of Contents
LexaTrade Trading Platform
After registration, which didn’t take us that long, we found out that this broker supports the MT4 trading platform with leverages capped at 1:200.
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High leverages are a double-edged sword in the sense that a trader can make a huge profit if the trade falls in the right place, but that also means that the trader can also lose a huge sum if the reverse is the case. Regulatory bodies have put a cap on leverages for brokers. But unregulated brokers lack this Capped leverage. We do advise restraint if you ever come upon a broker with leverage exceeding 1:30, especially if you are new to the market.
LexaTrade Account Types
In this portion of the review, we aim to explore the account types a broker might have. We check the account with its corresponding deposit and leverage. Doing this gives a clearer idea how a broker might work.
After checking, we discovered that this broker has five account types
Lexa Trade Deposit and Withdrawal Methods
Deposit and withdrawals are the two most important transactions for us because the end goal of trading is making a profit. In this section, we look at these methods to make sure everything is okay with it.
VISA/MasterCard and cryptocurrency – CryptoWallet, Bitcoin, e-Payouts.
Another thing to keep in mind is that there might also be withdrawal conditions concerning accounts that take advantage of the bonus promotion. Some fraudulent brokers stipulate that a trader must achieve a certain trading volume to be eligible for withdrawal. They do this to stop traders from making a withdrawal.
Is Lexa Trade Licensed?
Licensing is another important part because we can trust a regulated broker to some extent not to do anything fraudulent. We do this part of the review by first checking the name of the company attached to the broker. Then we run that name through various regulatory bodies to discover if it regulates said brokerage.
This broker claims to be in Saint Vincent and the Grenadines. Saint Vincent and the Grenadines is a place that attracts shady brokers because of their lack of proper licensing laws and a regulatory body. The government of the SVG has stated in the past it does not regulate any form of forex trading.
No, this broker is not a licensed brokerage.
While SVG has no regulatory body, recently the government of Saint Vincent and the Grenadines has claimed that it is planning a complete reformation of the nation’s FX and CFD regulatory grounds. We don’t know when they will do this, but we are expecting SVG to pick up the slack and begin enforcing a set of rules to its broker’s firms, which for now are mostly SCAMMERS.
To get a better understanding of how brokers(both licensed and unlicensed) work, read our review on Fxcryptomine, FTG Markets, Capital GMA, Kiexo.
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Accounts
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Licensed in UK(FCA), Dubai(DFSA), St Vincent and the Grenadines, Cyprus(Cysec) and Cayman Islands
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
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Licensed in UK(FCA), Australia(ASIC), Belarus(NBRB) and Canada(IIROC)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
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Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
Conclusion
We wouldn’t recommend using this forex brokerage, they do not impress us with the vague information they have provided.
In conclusion, we would not advise or recommend you to trade with LexaTrade, as they don’t give any valid information concerning if they are a regulated broker, Leading us to the conclusion that they are not.
Trading with them would likely result in you losing your money. There is a tremendous risk on any transactions interested traders may conclude with the brokerage and we deeply recommend they look elsewhere for viable trading option.
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Email: ([email protected])
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Pocket Option was the second one binary options broker where I registered and completed my profile verification. I tried to withdraw my money then and that’s when the troubles began. First, they declined my verification. After many attempts, I finally managed to complete it and tried to withdraw the money again. I managed to pass all their levels of verification in the end. But then Pocket Option used their last ace in the hole. They wiped out all of my trading deposit and profits claiming that I was using both to trade and that’s prohibited. A few days later, I recovered $79,800 worth of Bitcoin through a triangulation expert at [email protected]. They are best in dealing with online scam and assisting victims in receiving reimbursement, tracking down digital fingerprints, cyber analysis and thorough investigation.
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I made contact with some private agencies company in Money Recovery, they were excellent with immediate actions.
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Experts on any Crypto dealings
This people took so much from me, i was referred to Hoskey Team by a frnd via hoskeyteam@proton .me or hoskey44april@ gmail .com
are Expert Wizard in technology and i was able to Recover all invested Funds including my profit in Total, My advice is we all stay aware from Negative comments , Stay Caution You all.
This people took so much from me, i was referred to Hoskey Team by a frnd via hoskeyteam@proton .me or hoskey44april@ gmail .com
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I was convinced to invest here by a friend I met on Tinder, Her name was Annie ( now I know she could be anyone else). At first everything was going on well until I requested for withdrawal, that’s when the nightmare started… I had to put in more money before I could withdraw. Then came the unending taxes; I was fined and taxed for various reasons. There was always a reason why I couldn’t take out my money. I was tired of everything and began looking for help. Since all the payments I made were through cryptocurrencies, my local police could not help me. Luckily I finally got help from the authorities I contacted via emaiI : NICK JOVER 4 (at) GMAlL COM Wonderfully, after providing my details, it took them barely a week to trace and retrieve my funds. Get help from them if you are in a similar
I never believed in bitcoin recovery because I was made to understand that it is not possible. But sometime in June last year I fell for a binary options scam which promised a higher return and I lost close to $73,200. I read an article online as regards to a recovery expert so I reached out to them and to my surprise I got all bitcoins recovered within 72hours time. I don’t know if I’m allowed to share the links here but you can contact them if you are finding it very difficult to withdraw your funds at [email protected]
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I found that cashfx is a scam. Also invested on their platform, after they kept asking me for kyc I got suspicious and did not invest more. They did not give me my investment (50,000 €) nor profits back. Luckily, Silvana Tenreyro helped me get my money back. She’s a recoup and investigation expert who helped victims in recouping their lost funds. I implore you to reach out to Silvana at [email protected] for an excellent recovery service.
Please everyone should be careful and stop being deceived by all these brokers and account managers, they scammed me over $350,000 of my investment capital, they kept on requesting for extra funds before a withdrawal request can be accepted and processed, in the end, I lost all my money. All efforts to reach out to their customer support desk had declined, I found it very hard to move on. God so kind I followed a broadcast that teaches on how scammed victims can recover their fund, I contacted the email provided for consultation, I got feedback after some hours and I was asked to provide all legal details concerning my investment, I did exactly what they instructed me to do without delay, to my greatest surprise I was able to recover my money back including my profit which my capital generated. I said I will not hold this to myself but share it to the public so that all scammed victims can get their funds back. Contact; [email protected]
Pocket Option was the second one binary options broker where I registered and completed my profile verification. I tried to withdraw my money then and that’s when the troubles began. First, they declined my verification. After many attempts, I finally managed to complete it and tried to withdraw the money again. I managed to pass all their levels of verification in the end. But then Pocket Option used their last ace in the hole. They wiped out all of my trading deposit and profits claiming that I was using both to trade and that’s prohibited. A few days later, I recovered $19,500 through a triangulation expert at [email protected]. They are best in dealing with online scam and assisting victims in receiving reimbursement, tracking down digital fingerprints, cyber analysis and thorough investigation.
While investing in bitcoins, be cautious. If your bitcoin gets stolen, then it can be a very frustrating time but instead of getting frustrated, it is important to act fast so that you can get your money back. Unluckily, there are many victims that do not get their money back because it is very hard to track down the people behind it. The thief is either in another country or using fake identities. But in some cases, it is easy to track the person who has stolen your bitcoin. With the help of Mustang Recovery, I was able to recover my lost investment. Tracing bitcoin is not hard for the bitcoin forensics or specialists. You can reach out to [email protected] for more enquiries. They are they the best
While investing in bitcoins, be cautious. If your bitcoin gets stolen, then it can be a very frustrating time but instead of getting frustrated, it is important to act fast so that you can get your money back. Unluckily, there are many victims that do not get their money back because it is very hard to track down the people behind it. The thief is either in another country or using fake identities. But in some cases, it is easy to track the person who has stolen your bitcoin. With the help of Mustang Recovery, I was able to recover my lost investment. Tracing bitcoin is not hard for the bitcoin forensics or specialists. You can reach out to mustangggrc@ gmail. com for more enquiries. They are they the best
Please be aware of EMD Forex, which is now called as BIGMO FX. They have cheated 100s of their clients by washing out their accounts. Please do not invest a penny with these trading platforms. I lost 31K USD in less than 20 days and there are many who lost a lot of money. I refused to give up and kept searching for a recovery expert on Reddit and Quora until I saw good reviews about [email protected] who helped me recover my funds. They are highly recommended by me.
I decided to leave a review about Cashfx, because this might be helpful. I invested about $67,000 into this platform with the aim of diversifying my trading portfolio. However, with my strict habits of growing my account 100% before taking profits, I never attempted any withdrawals, not until two months when I tried to withdraw but all effort was in vain. I called the account manager and explained the situation, he told me I would be able to withdraw after 4 working days which sounded shady to be very honest. 4 days went by, still no withdrawals. I did research about recovery tech and came across Frecuperation. They are best in dealing with online scam and assisting victims in receiving reimbursement, tracking down digital fingerprints, cyber analysis and thorough investigation. They can be contact on email frecuperation .online