Is LexaTrade A Reliable Forex Broker? LexaTrade Review
In addition, it is difficult to guarantee fixed spreads, because the stock market does not work on the principle. First, analyze one out of 1000 different markets/assets at LexaTrade and decide to invest or open a trading position. For this purpose, fundamental analysis or technical analysis can be used. Of course, charting and analytics are very important to successful traders. It is not uncommon that traders even need to access external software.
Below you may see average spread reference calculated throughout the day on a Standard account presented for most popular products. Even though some spreads might be higher than its industry competitors, the overall fee structure is rather average for Forex products and low cost for CFDs. If you are a trader from South Africa – yes you can open LexaTrade account, as LexaTrade applied for registration to local regulator since 2016 and even since appealing to South African traders. So truly worldwide traders can enjoy great customer-oriented features LexaTrade offers and engage in all the trading benefits relatively easily. Besides, one of the advantages you will get as a trader is a Negative Balance Protection, so there is no risk to lose more than the available balance.
LexaTrade Broker Review And Test
Normally the average and the maximum spreads at that time are higher. No Deposit Bonus – The bets Forex bonus ever – the no deposit bonus – is still part of the bonus system that LexaTrade Group website provides to all of its clients. To be more specific only newly registered clients can actually benefit of it. The no deposit bonus here is 30 $ and you can use it only if you are new on the website and have just made your registration with a validated account to trade from. Pepperstone – Pepperstone offers CFD trading to both retail and professional traders. Clients can trade FX, indices, commodities and shares on MT4, MT5 and cTrader platforms. LexaTrade offers a comprehensive broker service to traders of all levels.
They have demo accounts, no commissions, low spreads, easy deposit & withdrawal methods and flexible leverage settings. It can be done online by providing personal and trading account details. For example, for account type like Ultra Low Standard Account, for a major currency pair like EURUSD, the typical spread/fees charged on a Premium lexatrade courses scam account is 0.8 pips per standard lot. If we compare the same currency pair of EURUSD with Hotforex, they charge 1.2 pips per standard lot with their similar “Premium account”. This account type has highly competitive spread of as low as 0.8 for EUR/USD. The minimum deposit for this account is is 730 South African Rand/ZAR.
LexaTrade advertise that they offer 100% of orders, with 99.35% orders executed in under 1 second. Spreads for LexaTrades Ultra-low account fare pretty well against other brokers with LexaTrade the best. Depending on the currency pair, some spreads match spreads for the best pairs from other brokers. Across the board, spreads are somewhere between matching the best and middle rung. With this account 1 micro lot is the equivalent of USD 10 cents. The main difference between each account is the allowable trading size.
How To Open Your Account
There will be no overnight interest charges on open positions for a period longer than 24 hours. Instead, clients will be charged a fixed fee that depends on the direction of their trade orders. The educational section provides almost all the most important information regarding the tools, the platforms, the Forex trading itself as well as the strategies.
Trading Point of Financial Instruments UK Limited is authorized and regulated by the Financial Conduct Authority. Trading Point lexatrade broker reviews of Financial Instruments Pty Ltd is authorized and regulated by the Australian Securities and Investment Commission .
How To Place Orders With LexaTrade?
The research section includes highlights and links to the subsections. The right side of the screen shows some of the most common assets and their current spreads and prices.
IG has been around for 46 years, while LexaTrade Group has only been in business since 2009. While IG currently does not have any promotions, clients signed up with LexaTrade Global will receive a $30 bonus just for opening their first live trading account with the brokerage. When it comes to client education materials, both brokers have apparently put a lot of effort into this front.
Deposit And Withdrawal
A decent and detailed review of a Forex broker will give you the necessary information about it in brief. Such an action and filtering of all the available foreign currency exchange platforms is superb way for both – high punters and beginners – to find the best broker for their trading experience. And since we are here to give you the best and most optimal assistance into Forex market, we are full of detailed reviews about the most popular and renewable brokers. Check out now our LexaTrade Group review and find out if it is suitable for your preferences and needs in trading. However, this isn’t at the expense of the more seasoned professional, who also have access to expert analysis and unparalleled tracking tools. As a company that prides itself on solid customer service, their users are well-served with support available in many different languages.
The data within this website is not necessarily real-time nor accurate and do not represent the recommendations of the employees. Before deciding to trade currency or any other financial instrument please consider consider your investment objectives, level of experience, and risk appetite.
This2021 Forex Broker Reviewhas been conducted though thorough research and assessment of rating and ranking among almost 300 international forex brokers. The final grade is given based on LexaTrade FX broker performance and features. This broker claims to be an acclaimed next-generation broker for online forex trading that says to enable traders to trade a range of assets. LexaTrade Group has 5 minimum deposit limits, depending on which account type you select.
LexaTrade Forex Trading Platforms
They have recently updated the research and education section of their website and it has become one of the most comprehensive we’ve seen across all of our forex broker reviews. They also explicitly state that they don’t use the MT4 virtual dealer plugin which forex brokers are able to use to delay quotes and take advantage of clients in this way. The LexaTrade group is a MetaTrader-only broker that offers a wonderful experience. It offers a range of platforms from MT4 and MT5 platforms for web, mobile, and desktop to the MetaQuotes software corporation. There are also LexaTrade mobile platforms for tablets and smartphones using both Android and IOS operating systems.
The average round trip costs of trading individual stocks, soft commodities, and equity indices are average for the industry. The average round trip cost of trading the benchmark EUR/USD Forex currency pair is 1.7 pips. However, this falls to only 0.8 pips in the LexaTrade Zero account. It’s nice to have an option cryptocurrency of choosing the leverage as I implement several trading approaches. Trading conditions and the choice of instruments are fine. I love that they offer micro accounts for small traders and their email. I had a problem with one of my bonuses and support got back to me the same day and kept me right.
- There are around 1150 Stock CFDs listed for trading across different regions.
- You can check with the website if your country is among those listed.
- LexaTrade is regulated by International Financial Services Commission , Cyprus Securities and Exchange Commission , Australian Securities and Investments Commission , so it can be considered legit.
- A requote in forex lingo means the price you have entered cannot be completed as market conditions between the time you received your quote and the time you executed your order.
- For scalpers, you want to trade with a broker who provides the tightest spreads and lowest commissions possible.
- Mobile trading today is a standard requirement for the trading software, as it is important to be able to respond to news from within.
With more than 3.5 million costumes and dozens of awards, it has not once proven that LexaTrade deserves the title of the best Forex broker in the world. The broker is focused on customer needs and makes the journey through a very complicated path very comfortable as well as reliable.