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Traders can use this account to trade with a higher leverage on all instruments, as long as they qualify as an elective professional. Recently LexaTrade UK opened a Forex education center that can be accessed by clients on the company’s website.
- Through LexaTrade, traders can access the most popular and most valuable digital coins, such as BTC, ETH, and LTC.
- LexaTrade does not charge swap fees, so there is no option to sign up for an Islamic account.
- However, the issues that it encounters from its clientele may easily topple their good standing, especially that these revolve around actual client relations.
- The exact trading conditions are listed separately for each currency pair at the site.
- Users can set their preferred display methods and parameters for every type of chart and indicator.
- Also, the tier-I regulated broker provides only the MetaTrader 4 platforms for all its customers.
Justin is an active trader with more than 20-years’ industry experience of working for big banks and hedge funds. From stat-arb and trend-following forex CTA to fixed-income relative value. Firm’s he has worked at include big banks like Citi, and prominent hedge funds including D.
According to the requirements of MiFID, the operator keeps the monies of its users in segregated accounts, with top European financial institutions. The group AT Global Markets is also a member of the Financial Services Compensation Scheme , which covers eligible investments of up to £85,00 per person, per firm. From a regulatory perspective, LexaTrade’s main “partner” is obviously CySEC. In the UK, Financial Conduct Authority regulates the activities of LexaTrade. Retail clients registering with LexaTrade come under the monitoring agency’s Investor Compensation Fund in Europe and the Financial Services Compensation Scheme in the UK. The Compensation schemes protect retail investors up to €20,000 and £85,000 respectively if the broker goes into administration.
Trading Platforms
For each product, you can view the name, minimum spread, contract size, and minimum and maximum lot size. Keep in mind that there are specific product specifications for each account type. Those include Retail – Standard Clients, Standard – Edge Account, and Professional Clients. Finally, LexaTrade supports trading best forex brokers of 50 major shares CFDs from the United States and Germany. Crude oil is another highly liquid asset that can be traded with LexaTrade. There is a vast trading volume; in fact, it has the biggest trading volume of goods in the world. To opt for an Edge Account, you simply create your LexaTrade via the regular process.
Before deciding to invest in foreign exchange, or any kind of trading you should carefully consider your investment objectives, level of experience, and risk appetite. No https://lexatrade.name/en/ information or opinion contained on this site should be taken as a solicitation or offer to buy or sell any currency, equity or other financial instruments or services.
This account has razor thin spreads and carries a commission charge. From your state-of-the-art, mobile-accessible Client Portal and account management with 24/5 localised support services, to the trading platform and pricing, LexaTrade commits to excellence. As already expressed earlier, LexaTrade should be more conscientious in looking at even the small complaints that are lodged against them.
The charting features of MT4 are well known, and in LexaTrade’s version, all these features are supported. Viewing positions directly on the chart, trading from the chart and placing quick orders is possible. Charts can be customised, and templates can be saved for later use. The Edge account lexatrade scammers must have a balance of at least £$€5,000 with a benchmark spread currency pair of 0.6 pips. The Standard account must have a balance of at least £$€500 with a benchmark spread currency pair of 1.0 pips. LexaTrade UK is also MiFID-compliant, the Directive on Markets in Financial Instruments.
Desktop Trading Platform
Its legitimacy cannot be called into question, and its regulatory status is more than satisfactory. The trading conditions associated with its Standard account are not really attractive, but one has to bear in mind that trading is commission-free.
There are some sections with FAQs, such as those related to trading. Overall, however, there is no convenient way to find information on other FAQs. It would be nice to have a dedicated section for information such as this. It would make it easier to open an account, fund https://lexatrade.name/en/ the account, and do basic troubleshooting without contacting LexaTrade. The LexaTrade Affiliate Program is designed to help clients grow their forex business. It includes transparent reporting with plenty of details plus competitive commissions and exceptional customer service.
LexaTrade offers its services worldwide, with the exception of a handful of countries specified in the footer of the official website. According to the About Us page of the operator, LexaTrade was launched back in 2014, by LexaTrade Global Markets Ltd., which used to be known as Positiva Markets Ltd. broker According to the said page, the decision to launch this retail-oriented trading destination was made after the company had already achieved success at an institutional level. The broker also provide support via most popular social media such as FB, Linkedin Twitter and Instagram.
LexaTrade Global Menu
There are main phone lines available on weekdays between 9 a.m. There is an lexatrade forex broker 800 number from the UK and a separate number for calls from outside the UK.
MT4 offers users a very useful WebTrader feature that’s optimized for maximizing web-based performance, including one-click trading, real-time information, and advanced charting. LexaTrade UK also offers a mobile application, giving users the convenience of trading while on-the-go. Clients also enjoy 24/5 customer service from a team of experienced experts. By trading with securities and derivatives you are taking a high degree of risk. You should start trading only if you are aware of this risk. LexaTrade is regulated by several financial authorities globally, including the top-tier FCA. After you have downloaded the MT4 mobile trading platform, you must access the LexaTradeGM2-Live server.
LexaTrade Partners through which it is possible to earn money by promoting its services as a broker. Clients of this broker have access to daily market analysis by expert analysts. It does not charge direct commissions for the transactions of its clients since the profits are obtained from the spread. 11 of the most important stock indexes in the US and European markets, including the S&P 500, UK 100, JP 225 and FRA 40 among others. The Web Trader is a much simpler platform, which is obviously less powerful than the downloadable MT4 in the way of charting options and trading tools. It too can be used for opening positions though, and its execution is indeed rather impressive. Oil trading – like the trading involving most of the other available assets – is CFD-based, which means that traders never gain actual possession of the traded asset.
These include Asia IRP, Euro IRP, and Investorside Research. It is a Registered Investment Advisor with the SEC (U.S.) and SFC .
LexaTrade Broker Review
The demo account is also very useful for less experienced traders who are seeking to hone their skills and old-hands who want to test new strategies. LexaTrade UK offers mobile trading platforms that are versions of MetaTrader 4. Users can download an app for either Apple or Android devices, enabling on-the-go trading. Market orders are forwarded to the market, and then executed at the market’s tradeable price. After execution, information regarding transactions is sent to the MT4 platform.
Crude oil can also be traded, together with commodity-based oil ETFs. Indices can be traded too, with 15 variations of share indices available from the US, Europe, and Asia. I confirm that this review was written based on my own experience and was not solicited in any way by any broker. BrokerChooser.com does not provide any investment advice, we only help you to find the best broker for your needs. LexaTrade has some drawbacks, though.Theproduct range is limited to FX, CFDs, and cryptos.
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From your state-of-the-art, mobile-accessible Client Portal and account management with 24/5 localised support services, to the trading platform and pricing, LexaTrade commits toexcellence. Once you’ve completed the registration process by providing your personal details, banking details, trading experience, and documents, you will be able to fund your account. LexaTrade offers a wide selection of deposit methods to transact on your account, including Mastercard, Visa, Neteller, Skrill, Bank Wire Transfer, and NganLurong.vn. None of these deposit methods come with any additional fees, except for the Bank Wire Transfer option that will charge a fee on any deposit less than $1,000. The processing times on all deposit methods is instant, except for the Bank Wire Transfer option that can take between 3 7 business days to reflect the funds in your account.