LexaTrade Review +++ Scam Or Not?

Offers a wide range of trading platforms – LexaTrade offer a wide range of forex trading platforms to fit different traders’ needs and preferences. The company offers MetaTrader 4, MetaTrader 5, cTrader, and FIX API trading. Compared to other brokers in the market, LexaTrade have one of the lowest spreads, have good research functions and provide price alerts too. In order to be able to trade with international capitals including currency pairs, you will need to learn about them first. You’ll find that LexaTrade can provide you with the best educational materials, from Demo Accounts to tutorials of the trading platform.

LexaTrade forex brokers reviews

The fees structure & spread at LexaTrade is quite straightforward & low overall compared to other forex brokers. Their spread is variable depending on the account type & CFD instrument that you are trading. LexaTrade are quite known for their simple Metatrader based low spread trading accounts.

LexaTrade Youtube Reviews 2021

While a 1 pip difference in spreads between brokers might only be $10 USD, the costs will really add up when trading with multiple lots, leverage and frequent trading. A wide range of account funding methods are provided – LexaTrade offers a wide range of deposit and withdrawal methods. This section of the LexaTrade review explores the company’s trading conditions. MT4 & MT5 are most popular charting platforms for traders worldwide. The broker has good trading conditions and fast execution speed in MT4. Raw Spread Account and Standard Account both have availability to choose MT4, MT5 or cTrader platforms.

LexaTrade forex brokers reviews

However, LexaTrade trails the best forex brokers when it comes to its scope of market research spanning technical and fundamental analysis, including forex news. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This content is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. I’ll also talk about the trading platforms they offer, as well as deposits and withdrawals and customer support facilities. MetaTrader 5 was developed by MetaQuotes Software Corporation and launched in June 2010.

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Their trading conditions are good overall, with multiple CFD trading instruments & high number of forex pairs. LexaTrade provide access to capital markets like currency pairs, all types of CFDs, and cryptocurrencies, for you to trade with. They are most renowned for their CFDs and Forex trading instruments. LexaTrade is an Electronic Communications Network broker, that offers raw spreads from 0.0 pips directly from various liquidity suppliers. They also acquire dark pool liquidity across sixty forex currency pairs. While high leverage can magnify returns, all levels of trading experience can utilise LexaTrade risk management tools to reduce the high risk of losing money.

LexaTrade forex brokers reviews

MT5 users will have a similar experience as MT4 users, with the added benefit of several upgrades and news features that come with the new version. When you are trading, you need all the protection you can get.

LexaTrade has a comprehensive educational section that provides details about forex trading, technical analysis, fundamental analysis, risk management, trading psychology, and strategy. These educational resources are provided in the form of blog posts and videos.

Deposit

ASIC is a well-known and rigorous regulatory body that requires the platform to comply with severe rules and processes. The online broker is well-known in Australia, and it is often regarded as the finest online brokerage accessible, because of its high leverage, low spreads and costs, and other benefits. LexaTrade launched in 2007, just as the online forex and CFD trading industry emerged. LexaTrade was one of many brokers that launched from Sydney.

LexaTrade forex brokers reviews

The trading accounts are accessed by the client only and they are utilized for the purpose of making it easier for clients to trade. By all of these indicators, the broker has one of the best offers in the market. Education section on LexaTrade is excellent, but the information is mainly suitable for the beginners. You can find dozens and educational euro dollar forecast articles, video tutorials on the broker’s website. The broker also offers a demo account, where you can trade without time restrictions. Correlation Trader helps find a link between different trading instruments based on data analysis. This is a very useful function for advanced traders seeking opportunities for arbitration and hedging risks.

Very strange review below, everybody knows that broker spreads widen over end of day and at market close NY on Friday. This must be a new trader with no experience using ECN brokers, very sad that they are allowed to post. I have a good experience with LexaTrade, their spreads, service and execution speeds are the best in the market, nothing negative to say.

The videos cover topics such as how to download a demo account, how to use the one-click trade manager, how to hedge an order in MT4, and how to use the Trading Terminal. LexaTrade has servers in both London and New York, providing clients with low latency and fast trade execution, leading to less slippage and better trading results. Managed forex accounts with an advanced Percent Allocation Management Module environment. This permits a trader to have their funds managed by an account manager under a limited power of attorney. The account manager typically takes a cut of the profits generated. LexaTrade charges a commission of $3.00 per lot per side on their cTrader platform, or $3.50 per side with their MetaTrader platform. This is reasonable, making overall transaction costs low considering how tight the spreads are.

Still, we should note that, unlike other leading brokerages such as ThinkMarkets for instance, LexaTrade currently does not offer a proprietary mobile trading app. Additionally, you can trade more asset classes compared to MT4, including Shares CFDs and Futures CFDs. We do not give LexaTrade the top mark overall on fees, because its commissions are a bit higher compared to those of other industry competitors .

Trading Platforms

For one, the True ECN account makes micro trading possible. Also, the True ECN account deals with spreads that are a bit lower. With the data center in New York and London , you get an unrivaled fast execution. If that’s not enough, you can hire a VPS server for even faster access. Since LexaTrade is a true ECN broker, price manipulation is excluded. In addition, there are no requotes and your position will always be executed at the next best price. In addition, the broker is supplied by various liquidity providers.

These values remain until the end of the European session. At the beginning of the American session, the spread becomes even better gaining values of 1.03, 0.87, and 0.87 respectively for the maximum, minimum, and average. Although this is a standard account and does not use the best possible conditions, these results are impressive. If you trade an ECN account, you pay commission for every trade – the commission starts from 3.5 AUD for 1 lot , which is also below the average in the industry. If you chose the standard account, the trading fee is included in the spread and you don’t pay an additional fee. This is another account type, which allows trading with the lowest possible Forex spreads, starting from 0.0 pips, on LexaTrade’ cTrader platform. In exchange for ECN trading conditions, you will be charged a small commission of $6.0 per round turn, per 1 Standard Lot.

  • On the other hand, Raw Spread Account is best suited for expert traders like automated trading through Expert Advisors and Scalping.
  • While you can make a case for choosing any of the accounts depending on the trader’s needs, IC Market’s Raw account types are winners due to tight spreads and the broker’s ECN-style environment.
  • They did this even though there was no obligation to do so, as forex traders are generally responsible for their negative account balances.
  • A big plus is that the minimum deposit is as low as 200$, and traders can open a micro-lots account to be able to accomplish much better money management with smaller capital.
  • In the sections below, you will find the most relevant fees of LexaTrade for each asset class.
  • Overall, LexaTrade is a top contender in our best MetaTrader brokers category this year.

On the other hand, LexaTrade offers only forex and CFDproducts for trading. In addition, live chat support could be better, and non-EU clients are not covered by any investor protection scheme. We know it’s hard to compare trading fees for forex brokers.

Client Support

Now, we are coming to the most developed accounts for those who have been in the cryptocurrency sphere for a long time. Obviously, these accounts have the best indicators and conditions for buying and selling. While others are protected by special laws, money on pro accounts can be in danger. Moreover, we have to warn you that it is extremely hard to get this account.

LexaTrade forex brokers reviews

IC Market traders can feel totally confident with a license and regulation from ASIC, which is one of the strictest and most demanding financial regulators. One should know that Forex trading or any other kind of trading involves high risks, and is not suitable for everyone. Before trading Forex or any other financial tool one should be aware of the risks, know exactly his investment goals and limits and acquire a fine level of risk understanding and risk management. These lexatrade broker reviews are maintained at Westpac Banking Corporation and National Australia Bank. Further, this brokerage is fully regulated by ASIC to offer Forex and CFD trading on financial instruments. Secure socket layer technology and the highest encryption protocols ensure that the integrity of trader accounts is protected from third-party interception. This unique software solution allows you to manage the funds of clients or your trades will be transferred to the client accounts 1 to 1.

LexaTrade forex brokers reviews

The total deposit fee depends on the fee of your bank or card processor. Both brokers offer a choice lexatrade broker reviews of popular trading platforms, with neither offering proprietary software as an alternative.

There is a small fee of 20 AUD charged for international bank transfers. Search for the mobile trading platform and get it on your phone and tablet to use it whenever you want. You will have an opportunity to enter the LexaTrade-Live server. Another option for those who are aiming at more advanced working but do not want to spend money on additional costs. But you have to be prepared to pay in advance for this account to be open for you. However, we would like to say that this kind is better for beginners.

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