Start here by going through this in-depth guide on forex trading. Most traders prefer desktop, web-based and mobile in that order.
ZuluTrade allows you to identify successful traders , and follow their trades, which are then translated into real trades in your own broker account. Lexatrade offers MetaTrader 4 as a desktop trading platform. You can only set alerts and notificationson the desktop trading platform. Developing this feature for the mobile trading platform as well would be much appreciated. To have a clear overview of Lexatrade, let’s start with trading fees. We ranked Lexatrade’s fee levels as low, average or high based on how they compare to those of all reviewed brokers. Lexatrade is an Australia-based global forex broker founded in 2007.
The brokerage firm denied all allegations and false statements made by the contractual partner for dumping its sleeve sponsor. Lexatrade has filed a ‘wrongful termination lawsuit’ against the club and are seeking reimbursement of the money they have already given, plus interest. The preliminary hearing of this case will be held before the court of Milan on April 14, 2021. In June 2018, Lexatrade announced record average daily volumes of US$19.4 billion in May and a monthly total of US$447 billion.
What Are The Account Types On Lexatrade?
These are live trading news segments that cover the latest market movements and economic announcements. Firstly, they use some of the best-known liquidity providers in the world including the likes of Citi, UBS, JP Morgan and Goldman Sachs.
It covers multiple types of indicators, patterns, and strategies used by professional traders. Lexatrade can be considered safe for traders in Nigeria due to ASIC and CySEC regulatory licenses. The broker claims to execute more than 500,000 trades per day. We found the clients’ reviews to be decent. Although, IC Market does not have a banking license and does not have any parent banking firm. With the MT4 and MT5 mobile apps for Android devices, traders can access their accounts and execute trades swiftly from different screens and customised layouts.
After completing the registration process, you need to activate your account by making a deposit. Lexatrade offers traders a variety of deposit options in 10 base currencies. However, the processing time varies depending on the mode of payment and currency pairs chosen. The automated trading system utilizes intelligent algorithms to trade foreign currencies at a given time based on the parameters set by traders.
It’s an upgraded version of the MT4 platform and comes packed with features designed for professional traders. The Lexatrade MT4, MT5 and cTrader desktop and web platforms are designed for professional traders. Beginners will find the web platform the easiest to use but there will still be a learning curve.
I have gone to a lot of forex broker before and have seen a lot of irregularities but this broker Lexatrade is the best one. Please read Lexatrade Reviews below and share live trading experiences with this broker. Please note that all the material and information made available by BrokerChooser or any of its affiliates is provided to you for information purposes only. Ádám worked in banking and investment, and holds a professional degree in this field. He is a motivated finance expert, having joined BrokerChooser in 2018. He’s also eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible.
You will also find investment advice and other information about the company’s history and reputation. We will provide you with facts so you will be able to understand how reliable Lexatrade is. Be sure to find out up-to-date information concerning all the prices, deposits, trading fees (EUR/ USD), and other additional costs. Keep reading our Lexatrade review to find answers to all your questions. You can access Meta Trader trading platforms if you have a true ECN account or a standard account. The Equinix NY4 enables quick execution of trades from the platform since Lexatrade servers are located at the New York data center.
The wire transfers usually take several days, but this depends on the banks involved and doesn’t depend on the broker. All E-wallet withdrawals are processed on the same day. Sometimes there can be issues and the withdrawals can take days and require additional documents, but this mainly depends on the correspondent bank network. The minimum deposit for all account types is $200. Lexatrade provide trader education but the training is suitable for beginners. Occasionally, webinars are held on the website. A forex glossary and ‘FAQ’ page are also available.
It also provides a demo account where traders can gain experience regarding forex and CFD trades with virtual currency. Lexatrade provide access to trade over 65 currency pairs , 17 indices, 19 commodities over 120 stocks from the Australian and U.S markets. Other assets include 6 Bonds, 4 CFD futures and 10 of the most popular cryptocurrencies.
Advantages Of Trading With Lexatrade
There is no much difference between cTrader accounts and the true ECN Meta Trader accounts. The difference is only on the commission amount. For cTrader accounts, the commission is slightly lower at $6. Posting the latest news, reviews and analysis to hit the blockchain. We would encourage you to do your own research, but based on this review we think that they can considered a highly recommended broker. Multi Account Managers and Percentage Allocation Management Module are account management methods whereby one manager can trade numerous accounts.
Lexatrade is the best broker for traders looking for low fees. Also, Low spreads, practically no slippage, easy deposit and withdrawal. Lastly, but not for importance, very responsive client support. The broker provides many fantastic features for traders who want to make a living using the markets.
The platform is great for trades that you do not want to be matched with markers in the market. Trades are executed very fast, and the platform has extremely low spreads. Lexatrade has tons of educational and learning materials. It provides video tutorials to their clients as well as guides and articles to lexatrade scam assist them when trading. Lexatrade tends to be selective in terms of the trader’s nationality. For this reason, some people qualify to be part of the Lexatrade traders while others don’t. Check out some of the countries that are accepted by this broker and some of the countries that it doesn’t accept.
- Overall, Lexatrade is a dependable choice for traders of all experience levels.
- Please be aware that this might heavily reduce the functionality and appearance of our site.
- Lexatrade does not provide services to residents in the United States, Iran, North Korea and some other regions.
- Lexatrade’ education offering lacks depth, and we would like to see the broker add more content on intermediate and advanced topics.
- Traders should check payment processor costs to determine the most efficient method, which varies by geographic location.
Had been using their service for quite some time and I am by far satisfied with my trading results. I open an account and have deposited huge money but I can not withdraw due to their crazy policies. Don’t trade with them, they will just hook you up and will take your money. Overall, this is a good broker except that their withdrawals have great delays. Very slow withdrawal process, it actually takes weeks before I got mine so I closed my account and look for a new broker instead. Rude customer service and slow withdrawal process.
Is Lexatrade Legal?
If you want to change the language in the app, you have to change the default language first. You can use trading robots and apply trading signals to make copies of deals you make. Moreover, it is easy to use customize in case you have some special preferences.
IPhone users might not have any problems since this function is lexatrade official site easy to find. On Android, it may be a little bit complicated.
The platform integrates advanced order management and charting tools that let you execute trades quickly and efficiently. The MetaTrader suite of trading lexatrade scam platforms is considered to be the most popular trading platform in the world. Many Forex and CFD brokers offer these platforms to their clients.
The platforms and tools provided by Lexatrade are mainly aimed towards advanced and professional traders. Lexatrade is regulated around the world, providing a very competitive offering to traders. From our live testing, we found the trading fees such as spreads and commissions to be better than the industry average. Lexatrade is a top-notch broker for serious Forex traders and is regulated by financial bodies such as CySEC, ASIC, SCB and the FSA of Seychelles. While the services and products are mainly geared towards professional traders, beginner traders will find a lot of support and useful tools.
On the broker’s website, there is a dedicated Market Analysis Blog called Information Hub for Serious Traders. This area has a large range of research materials suitable for beginner and advanced traders. Lexatrade provides an impressive range of research.