Lexatrade offers two account types, a live retail account, and a paper trading account with £40,000 of virtual equity to practice your trading strategies in a risk-free simulated online lexatrade official site environment. With Lexatrade you can receive SMS, email, and push notifications in real-time based on price alerts, daily and hourly percentage change, and traders’ sentiment.
- Lexatrade’s mobile app is a fantastic mobile port of the WebTrader.
- Also, how fast the funds will get to your account will depend on the payment mode you choose.
- If you are not an active trader, make sure that you trade at least a few times during your inactive sessions, in order to avoid any unnecessary account maintenance fees.
- Both Lexatrade and AvaTrade allow users to trade on the go with their mobile apps.
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Whichever way you choose to access the platform, the functionalities are similar and excellent. Lexatrade is excellent for how well it protects user funds from hackers. Users have advanced risk management tools, and their funds are stored in segregated bank accounts to eliminate the chance of a loss if anything happens to the platform. Lexatrade is a platform that allows users to trade securities and multiple asset classes in over 2,000 markets. All the financial instruments on Lexatrade are offered through Contracts for Difference . It was founded in 2008 by six alumni of Technion; an institute focused on technology in Israel. The founders include Gal Haber, Shimon Sofer, Omer Elazari, Elad Ben-Izhak, Alon Gonen, and Shlomi Weizmann.
As noted earlier in the article, Lexatrade is a CFD trading broker. So, before we get into the pros and cons of this Lexatrade review, we should address the most important part – Lexatrade is NOT a cryptocurrency exchange or a traditional brokerage. Yes, various Lexatrade reviews suggest that it is good for beginner traders as well—the existing user base of the broker report Lexatrade to be user-friendly.
The regulation also helps protect users in case of insolvency, ensuring they don’t lose their money. Given the risk involved in trading CFDs and the additional threat of scams, regulation assures traders that they are trading on a platform that isn’t likely to disappear with their investment.
LexatradeUK Ltd is authorised and regulated by the FCA (#509909). LexatradeCY Ltd is authorised and regulated by CySEC and is headquartered in Limassol, Cyprus. LexatradeAU Pty Ltd is regulated by the Australian Securities and Investments Commission and licensed by ASIC in Australia. LexatradeSG Pte Ltd holds a capital markets services license from the Monetary Authority of Singapore for dealing in capital markets products. LexatradeIL Ltd is registered in Israel and licensed to operate a trading platform.
This selection is based on objective factors such as products offered, client profile, fee structure, etc. Lexatrade has a simple, easy-to-use site, with an especially well-designed mobile platform. During our account opening testing, our account was opened within a day. As is the norm in the brokerage industry, Lexatrade generates its revenues principally from customer trades that “cross” the scammed by lexatrade bid/ask spread, which are competitive within the industry. The company does not charge commissions on any client transactions, and the spread does not vary with trade size. As mentioned, Lexatrade offers its own trading platform, which is why it does not have to use MT3, MT4, cTrader, and alike. The platform is very straightforward, the interface is user-friendly, and it also looks good.
Recent Customer Reviews Of Lexatrade
Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing.
72% of retail investor accounts lose money during CFD trading. You must take the time to understand how CFDs work and what you can afford to risk before proceeding. Lexatrade is based in Haifa, Israel and regulated by the Financial Conduct Authority and CySEC (#250/14). The broker is a fast-growing firm spreading all across Europe and Asia. While the only tradable instruments are CFDs, these products can be used to trade stock indices, options, currencies, commodities and even cryptocurrencies. 67% of retail investor accounts lose money when trading CFDs with this provider. On the negative side, Lexatrade does not support trading ideas or fundamental data which experienced traders will find disappointing.
For example, some brokers are required to deposit 6500 USD/GBP even some are required to deposit as high as 10,000 USD/GBP. This all will be according to your trading plan and requirements to avail from the platform. Similarly, there are different methods to withdraw funds as per users’ feasibility. The Guaranteed Stop Order is another type of fee charged by the broker.
But Lexatrade is not a broker for beginners — the education materials are sparse and CFDs are risky derivatives capable of sapping out all of an investor’s capital. Only trade these instruments if you understand how they operate and the risks involved with buying them. Throughout this Lexatrade review, we have covered all the key metrics from fees and commissions to payments and regulations.
There is an exciting range of instruments to trade and we judged the pricing ranged from average to competitive in most areas. This is key for traders who use intermarket relationships or who like to stay on top of what is going on across multiple time frames for their strategy. In the image above you can see that trading from the chart is an available feature also. Charting capabilities are strong within the WebTrader platform. Multiple chart types are available, such as Candles, Renko and Range Bars.
Lexatrade Review: Pros
The spreads are of course, variable, but the cost of trading shouldn’t be much of a concern, considering the overall quality of Lexatrade trading services. The demo trading account just as the name implies is a trading account that will allow you to demonstrate and learn the key skills in trade execution in forex trading. The demo account has been designed to meet the needs of traders who have little or no experience in trading and want to know of the concept of trading and how it is carried out. The demo account will help one in learning step by step how to trade and also the various conditions of trading. As a bonus, one will be able to execute trades but will not incur any losses as they will use virtual funds. Lexatrade is regarded as one of the leading CFD brokers in Europe for a variety of reasons. This broker provides CFD trading services on over 2,000 securities and asset classes, including forex, options, indices, ETFs, cryptocurrencies and stocks.
It is a downloadable software and will give you the best trading experience. Here at FxForex.com we do not provide any form of investment advice. Our goal is to give you the best information possible on how online trading works. No information or other content on this site should be considered as strategic investment advice.
If you plan to withdraw more than $100 with a debit/credit card, then you have 5 free withdrawals each month, otherwise, the withdrawal fee is $10, which is better than average. All UK-based clients get up to £85,000 coverage, which is very reassuring, but users outside the UK, and Norway, and the EU do not get any protection of this sort. In the event that the company goes under, clients may recover a shortfall of up to £50,000 from the Financial Services Compensation Scheme . On the other hand, if the financial institution holding the client’s funds becomes insolvent, a shortfall of up to £85,000 may be covered under the FSCS. Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market. EToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. EToro users can connect with, learn from, and copy or get copied by other users.
FX Empire’s proprietary rating system was developed for exactly this purpose. Our reviewers’ knowledge and expertise put into action in order to point you to the most suitable lexatrade cheating brokers. More than 200 individual variables have been analyzed to help you choose your broker wisely. The chart below details all the categories that we evaluate and rate.
Lexatrade clients can view up to 9 charts simultaneously on Web-Trader. To enable Multiple Charts on the web trading platform, look for a button with four quadrants on the chart’s toolbar. This is great, as investor accounts can easily lose money if they are not notified of sudden price changes.You can set up email, SMS and push notifications.