From there, it grew to become a firm capable of bringing in advanced trading solutions coupled with a wealth of financial instruments, grooming itself to become the emerging online brokerage brand it is known today. Along with the broker’s regulatory background, this broker review will also rundown key advantages and features of LexaTrade. Additionally, it will provide LexaTrade reviews from LexaTrade clients to help you picture out the broker’s overall service.
When trading with leverage, which acts to amplify both profits and losses, the risk inherent in volatile markets is only increased. Before trading, always consider whether you can afford the potential monetary loss, and always take steps to manage your exposure to risk. To get a better idea of the costs of trading, consider opening a demo account. You’ll get $20,000 in virtual funds to trade not only cryptos, but over 13,000 other popular markets.
With IG, you can trade cryptocurrencies via a CFD account – derivative products that enable you to speculate on whether your chosen cryptocurrency will rise or fall in value. Prices are quoted in traditional currencies such as the US dollar, and you never lexatrade take ownership of the cryptocurrency itself. CFDs are a leveraged product, which means you can open a position for just a fraction of the full value of the trade. Although leveraged products can magnify your profits, they can also magnify losses if the market moves against you. CFDs are leveraged derivatives – meaning that you can trade cryptocurrency price movements without taking ownership of any underlying coins. When trading derivatives, you can go long (‘buy’) if you think a cryptocurrency will rise in value, or go short (‘sell’) if you think it will fall.
Based on my experiences, I have reached the conclusion that I have been scammed by Lexatrade. After pursuing this review and reading other negative LexaTrade reviews, it is clear that this broker is a scam. If you got defrauded by LexaTrade scam or some other intermediary and need to discover more about another agent, address our specialists. We assist customers with documenting the case against trick representatives. However, withdrawals may take a bit longer, usually about 3-5 business days to process. This is to provide the necessary time for necessary transaction procedures.
Company
This broker attracted me precisely with this – in all reviews about LexaTrade, it is distinguished by the reliability and honesty of the company. Of course there are questions, but after correspondence with tech support everything is successfully resolved. Normal stop-loss orders are free, but there’s no guarantee of protection against slippage. Guaranteed stops will close your position exactly the price you specified, but incur a premium if triggered. In this example, after a spread of 8 points is applied – and excluding other costs – the buy (or offer) price is set at 3204, while the sell (or bid) price is 3196. The CFD you use specifies an amount of $1 per point of market movement, and you opt to trade 10 contracts.
Who are LexaTrade’s investors?
The only extra worth mentioning is the Autochartist which is available right on the trading platform and is free of charge. It offers signals and pattern recognition and is generally regarded as a reliable tool but of course there are no guarantees that it will be profitable. There is no fee to open an account and the fees for deposits and withdrawals are not specified anywhere on the website. There is no mention of an inactivity fee but we cannot guarantee that you won’t be charged one. Live chat support was available at the time of our visit but a bit slow to answer. The minimum deposit is $250 and the available methods are Visa, CryptoWallet and e-Payouts; the processing time is not specified.
- Lexatrade has launched a universal course for investors with any experience.
- Once you’ve set the number of CFDs you want to trade, your stop-loss and limit levels, you’d open your position by clicking on ‘place trade’.
- Alternatively, open the market’s deal ticket and take the opposite position to one you have open – for example, if you bought CFDs to open, you’d now sell, and vice versa.
- The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client.
- Profit with minimal risk by using all the features of the terminal.
- Bonus programs, low spreads, 0% commission, multi-language call center.
IG International Limited receives services from other members of the IG Group including IG Markets Limited. Its fraude company consists of lots of incompetent employees in India who always make you invest with a false commitment and later they denied to keep their promises. They never give you money back by making you fool showing some policies.All contact numbers in their web sites are incorrect so that whenever you want to contact them they will not be available. Even i have raised my concerns in their portals but no actions were taken.
You should always ask yourself whether you can afford the risk of monetary loss, and if so, how much? With this said, the margin requirements on cryptocurrency CFDs are comparatively high – currently 50% margin but can be increased in times of market volatility. This means that cryptocurrency trading can have, relative to other markets, higher costs.
Learn why people trade cryptocurrencies
- On the other hand, if you are confident in your abilities and $250 is not a lot for you, then LexaTrade may be a good choice.
- Rather than opting LexaTrade scam, we recommend you to incline towards a more trusted platform like InvestFW.
- Below are the most salient benefits LexaTrade offers to its users.
- At this point it’s important to note that because your exposure is larger than your required margin, you stand to lose more than the deposit if the market moves against you.
By contrast, when you buy cryptocurrencies on an exchange, you buy the coins themselves. You’ll need to create an exchange account, put up the full value of the asset to open a position, and store the cryptocurrency tokens in your own wallet until you’re ready to sell. Cryptocurrency trading is the buying and selling of cryptocurrencies on an exchange.
I lost so much and was really…
It also guarantees the broker’s commitment to maintaining satisfactory dealing practices and keeping your money in secure and segregated accounts. On the other hand, the majority of traders don’t need Expert Advisors, scripts and the (sometimes) stuffy interface of Meta Trader. Besides, LexaTrade’s Web platform offers all the tools that can turn a skilled trader into a profitable trader. LexaTrade advertises several account types, from basic to VIP, each with distinct perks.
