But now i am told that my trading assistant has been transferred and the new one is pushing me to put in more deposit telling me that i cant withdraw money at the moment. Spreads are high, and minimum deposits are significantly higher than most trusted brokers out there. There is only a list of payment options available on the website of LexaTrade. There are no details about fees for deposits and withdrawals or processing times. Although the broker promises faster withdrawals for its higher-end account, these claims are not trustworthy. Among accepted payment methods are Visa, MasterCard, several wire transfers, Skrill, and several other e-wallets.
Victim of LexaTrade?
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- When it comes to deposits and withdrawals, the broker accepts multiple funding methods.
- Whenever i asked pay out they are telling some reason.
- However, we have detected several red flags with this broker.
- Fill the form below or Use our Chatbot and get a Free Consultation from CNC Intelligence Experts, they can assist you by investigating your case and tracing your funds.
While the platform appears well-structured on the surface, a closer examination reveals troubling details. The extra features are lacking at LexaTrade as well. There are only market analysis tools, which are also limited.
They pretend to be a friend or romantic partner to gain trust, sometimes over weeks or months. The first major issue is that LexaTrade is not licensed by any official regulator. This is dangerous because real investment firms must follow rules set by authorities like the FCA, SEC, ASIC, or CySEC. These regulators make sure your money is protected.
LexaTrade Customer Support
It also offers a live chat plugin for quick contact and support. With the surge of online trading platforms, the potential for scams has also grown, and LexaTrade has emerged as a broker raising serious concerns. In this review, we’ll examine why users should exercise extreme caution if considering LexaTrade. LexaTrade is a global online trading platform offering a range of financial instruments, including forex, commodities, indices, cryptocurrencies, and stocks. It aims to attract traders with promises of high leverage, multiple account types, and extensive educational resources. However, LexaTrade has been the subject of mixed reviews due to concerns about its regulatory status and business practices.
Lexatrade is a scam
These deceptive practices raise significant doubts about the credibility and trustworthiness of this platform. Fill the form below or Use our Chatbot and get a Free Consultation from CNC Intelligence Experts, they can assist you by investigating your case and tracing your funds. You should also contact your bank as soon as possible and let them know about your issue. Dealing with an unregulated company like LexaTrade increases the risk factor of your money. Once the money is deposited with it, it stops responding to the queries..
Trade the Bitcoin and altcoins at the most advanced web trading platform with a regulated broker The website of LexaTrade is simplistic but responsive and modern. Users can quickly navigate around and find all the details needed to understand what the broker has to offer. Information is given in various tabs, and traders can access it from the website’s top menu. The website is also mobile-friendly, lexatrade reviews which is crucial. The live chat is directly built into the website, which enables quick customer support service.
- No educational resources are available as there are no webinars, trading courses, or video content.
- The spread on major currency pairs such as EUR/USD is relatively low, but the spread may widen for less liquid assets.
- However, the broker is not specific about its fees for funding and withdrawals, and processing times are not disclosed either.
NO DEPOSIT BONUSES
The two offshore jurisdictions where the broker is registered are Saint Vincent and the Grenadines and the Marshall Islands. Since it is relatively easy to get licensed offshore and the broker did not care enough to get properly licensed, it could be a scam. In terms of security, LexaTrade uses SSL encryption to protect sensitive data, which is standard for most brokers. This encryption ensures that your personal and financial information remains private when making deposits, withdrawals, or logging into the trading platform.
LexaTrade Forex Broker History
E continue to force me to deposite more but i denied so he opened very huge position so i lost all capital so he tell me that thats why i told you to deposite more. After few weeks i got call & said we will recover all you money & for that they give me some credits & with help of that credits my ac agind reach to $1800. But after that they start again force me to deposte $1000 but i said let me give frst my initial capital of $250.
We may be compensated but this should not be seen as an endorsement or recommendation by TradingBrokers.com, nor shall it bias our broker reviews. Whilst we try to keep information accurate and up to date, things can change without notice and therefore you should do your own research. LexaTrade offers competitive spreads, with forex pairs starting from around 1.5 pips. However, fees and spreads may vary depending on the account type and the asset being traded. The spread on major currency pairs such as EUR/USD is relatively low, but the spread may widen for less liquid assets.
The cycle persists, but it is possible to put an end to it, even if you’ve fallen victim to their deceitful promises. The Investing Brokers team have over 15 years of experience in the online brokerage industry and are committed to providing reliable information for all of the brokers that we review. We use dedicated people and clever technology to safeguard our platform. Sometimes, they allow small withdrawals early on to build trust. The whole platform is controlled by the scammer, and the numbers on the screen are fake.
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In conclusion, while the promise of easy trading may be tempting, LexaTrade is fraught with risks that make it unsuitable for investors who prioritize security and legitimacy. In this brief yet comprehensive review of LexaTrade, we will analyze and assess its safety, accounts, spreads, profit withdrawals, support, educational resources, and more. LexaTrade falls into the category of UNREGULATED platform. When choosing a platform, caution is warranted if the company lacks regulation by any overseeing agency. This should serve as a warning that your funds may not be secure, and there’s no protective regulatory framework.
Later they said that the amount was too low for a trade so I left the money there only to find later that the money has disappeared. © 2025 TruthfulReviewer – All content on this site is meant for informational use only and should not be taken as financial, legal, or investment advice. Some links on our pages may result in us receiving a commission or other compensation. Always use licensed platforms, double-check claims, and walk away if anything feels off. Scammers use pressure and lies — don’t let them control the situation. “Pig butchering” is a scam where the criminal slowly builds a fake relationship with the victim, often on dating apps or social media.