I Got Scammed By LexaTrade

On the second hand, the mobile platform helps traders stay tuned to the most accurate market rates, through robust trading options and a sleek look-&-fell to give you the ultimate experience in the palm of your hand. Operating since 2012, LexaTrade is a well-known trading name owned by an entity in the LexaTrade Group, founded in 1996 and currently one of the most popular firms in the online trading industry. At the present time, the company enables traders to invest in over 800 CFD instruments that range from currencies, commodities, indices, shares, ETFs, and cryptocurrencies. Forex training, broadly, is a guide for retail forex traders, offering them insight into successful strategies, signals and systems. because they are not trading with your deals in forex market they keep them internally. you will find out this when you withdrawing more than the amount you deposit .

LexaTrade does present traders with its proprietary trading platform, with a focus on mobile traders. Over 940 assets are available, and education fulfills a central role. This broker states that it neither manages investment funds nor does it offer advice; however, as regards the former lexatrade scam statement, trading signals is listed under the website’s tools section. LexaTrade has over 24 years of market experience, suggesting financial stability and a well-executed business plan. To summarise my response to you , for years i have battled with the psyop of retail forex trading.

As such, the British Virgin Islands Financial Services Commission authorizes the company; client deposits remain segregated from corporate funds, and negative balance protection applies. Full compliance with all regulatory stipulations is maintained, and Formula Investment House Ltd has a clean regulatory track record. They took off $20 as a processing fee but I got $560 into my account. I was very worried after reading all these comments but LexaTrade seems to be ok with withdrawing from my experience.

LexaTrade scam

For example, can you enter or exit a trade during volatile market action after an Swing trading economic announcement? If you can’t withdraw money, warning signs should flash.

Is LexaTrade Safe?

I learned that they offer fixed spreads and it greatly interested me. They are reportedly advantageous for volatile trading. I did on their real account with an expected outcome. With such spreads, it’s much easier to trade on news, especially if you actively use locking.

  • I have burned through about four times that — and i readily admit that in the first six or so years trading retail fx part time i knew nothing and it showed — big time.
  • After all, as you say, there is a real currency market and there are real currency trades taking place in the hundreds of millions every day, internationally, 24/7.
  • Forex trading is all about ur knowledge n strategy to trade.
  • Thus only 30 currencies can be traded and also the choice with the commercial tools and analysis tools is not so wide long ago as with the platform FXnet.
  • But the majority of violators have historically been United States-based companies, not the offshore ones.
  • With his offer the on-line broker creates the best conditions that every dealer’s type finds a suitable tool.

An old point-spread forex scam was based on computer manipulation of bid-ask spreads. The point spread between the bid and ask basically reflects the commission of a back-and-forth transaction processed through a broker. These spreads typically differ between currency pairs. The scam occurs when those point spreads differ widely among brokers. The spot forex market traded over $6.6 trillion a day as of April 2019, including currency options and futures contracts.

Account Information

Besides, as a basis solution the platform FXnet can be looked. This programme was conceived especially from LexaTrade for the Trading in the Forex and is directed above all at professional traders.

Some claim to have “forex robots” that do the trading for you. Same as many other companies, LexaTrade is also offering educational material for clients wanting to learn how to trade. Trading Videos, Educational Books, Interactive Tutorials, and other trading resources could be found in the Education section available on the website.

No Demo Account And Bogus Spreads

I have traded about $300M and soon i plan to quit, though i set up an INC in Singapore to help others trade retail FX ‘with intelligence.’ It just seems that the chances are, really and truly, almost nil. Can you help me at all, to get back to my dream of actually earning a living from fx? It has cost me about $40,000 so far which i really would like to recover. While LexaTrade aims to be transparent about its cost structure, it is opaque about its account structure, minimum deposit, and maximum leverage, requiring interested traders to contact customer support.

LexaTrade is a broker licensed and regulated by the CySec and BVI FSC. While regulation gives to brokers much needed credibility, it still does not mean every regulated broker is honest. In order to be sure that LexaTrade is not a scam, read our trader reviews and check other popular trading related websites and forums.

Anywhere you find a lot of money you will find scammers. If you avoid those with extraordinary claims and stick with regulated companies, though, you can avoid being a victim. That sort of action, though, is a bit easier in a centralized market than in the widely dispersed forex market.

LexaTrade scam

Who are the employees and CEO of LexaTrade and their street address on permanent basis. These thieves are thieves and they should all be behind the PRISON.

Beware of any arrangement that does not involve careful research by experts and remember that it is not only the cost of the Forex robot at stake; your trading capital is as well. Forex traders who have used robots in the past suggest that traders learn enough about the workings of the EA program so that they can place the trades themselves and not through a broker. This will provide them forex with a sense that they are in control of their money and are not leaving it in the hands of a broker. This may not lead to profits but it will eliminate the feeling of being taken in by a fraudulent Forex robot scam. However, one of the main disadvantages of LexaTrade is that the broker does not offer the ability to open a demo account, its traders need to open directly a live account.

Helpful Offers By Support And Training

After a week while having dinner, I overheard on the tvnews that LexaTrade was raided. Very helpful.I also got a call from LexaTrade and so i did some research about them and came across your blog. Thank you also for the author of this blog post and everyone who took the time to write in the comments and help others prevent losing $100.

You saved alot of people from being scammed out of they hard earned money likewise. I once was scammed out of $300us by a option brokerage called TopOption. I think that stock future and forex market needs alot of research and at the end of the of the day it can go in the opposite direction.

LexaTrade scam

Later their fund manager called and said he is the one who is going to guide me in trading. Later he said if I invest more I can gain more money so ask me to invest me more USD 200. Later he ask me to invest more money as the market is gaining. Suddenly the market went opposite direction and I lost all the money. Call your account manager in LexaTrade and tell him/her that you want to withdraw the money you just deposited because you decided that forex trading is not something you want to do. The offer which makes service and continuing education LexaTrade his customer in the area is extensive in any case. To the extent belongs beside different offers of information on the sides from LexaTrade also the possibility to take part in own educational programmes which are offered to the single customer’s teams.

this moronic babble is why regular americans are totally fed up with wall street and the corrupt pirates doing the fleecing. lies, deception and then for a change a pace, more lies. I’m not going to get into a debate on that here.

Top 3 Forex Brokers

With the commercial technology a persuasive offer with which the trader can choose between several versions is also held ready. A little bit bewilderingly the information is against it in the area of Bonus. So I traded with a few different lexatrade reviews FX brokers back in the early 2000, FXCM, and others. At least nobody is screwing you on the charts and placing trades. Yes you pay a commision for a trade but that is nothing compared to the pips the FX banks make on the spreads.

I agree that the macro picture is a real picture. Yes, in the grand scheme of things the retail trader is the fool at the table , but from the interbank perspective they aren’t the fools from whom the money is being made. As the “guy writing the article” I have no bias.

You know that when you update your locking removing or adding new trades, spreads are crucial because the size of drawdowns depend on it. When floating spreads suddenly widen, it’s more difficult to edit your locking because the difference between trades may be larger than you expect. Plz don’t open account with LexaTrade, the main cons is LexaTrade is not a Regulated by any regulatory body. U know without regulation u cant believe any broker specially in currency market.

Only one type of trading account with the same trading features for all clients. trading strategy Demo trading accounts are the best way to learn to trade and test strategies.