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Overall, we were satisfied during this Lexatrade review to see that customer support appears easily accessible, if needed. Forex traders are levied with hidden costs for access to the Lexatrade webtrader. This is the sole option to unlock all of the products and services provided by the brokerage. Easy Forex Trading LTD is the owner of Lexatrade, a broker authorized and regulated by the Cyprus Securities & Exchange Commission . The registration number is HE203997, and the license number is 079/07, which was granted on May 29th 2007. In September 2020, the brokerage received FSA license in the Seychilles which allows Lexatrade to provide a wider range of services to traders outside of the EU. On trading platforms, the more choices of trading platforms that are provided by the broker, the better it is for you as a trader.
- All forex brokers make their money through the commissions or the spreads which they charge their clients.
- Traders can configure the chart with customized indicators and technical analysis tools.
- Each instrument has a different condition for overnight positions and may be as a fee or refund.
- Lexatrade is a rebranding of the already popular Easy-Forex brokerage firm.
- Here, you can use robots and EAs and benefit from one-click trading opportunities.
To evaluate how the trading platform is able to perform, always try out the demo account provided by the broker. This will help give you an idea of the performance of the trading platform. The platform is intuitive and the site offers some useful education and news resources for new traders as well. But if you are truly a “noob” in foreign exchange, looking at real examples in a live setting can teach you what’s going on much faster than piecing it together on your own. The brokerage firm also maintains offices in several jurisdictions such as Australia and South Africa.
Definitely, Lexatrade is well-regulated by three international financial authorities – ASIC, CySEC, and FSA. No matter what the market conditions, your bottom line will never change with Fixed Spreads. First you should calculate the spread i.e. the difference between the bid and ask price.
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Take note that the wider the spread, the more difficult it is for you to make a profit. Nevertheless, frequently traded currency pairs such as the EUR/USD or USD/JPY often have very tight spread as compared to less frequently traded currency pairs. Finally many regulators offer an investor compensation scheme which protects the investors deposits up to a certain level should the broker become insolvent and become overly exposed to the markets.
12 currencies are accepted for deposits, but can only be made using a credit card or wire transfer. Withdrawals can be made if the required documentation has been supplied, but it has to be sent to the bank account that was used for deposits. However, the good news is that there are no fees on either deposits or withdrawals. EasyTrade – Perhaps the most innovative of all of Lexatrade’ lexatrade scammers tools, easyTrade allows you to trade without margin requirements and spreads. It also allows you to set a risk amount before you trade to protect your balance. Risk Warning – Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you are fully aware of the risks involved and the high probability of losing your money.
This is done by the client money segregation, participation in a scheme in case of the company insolvency and strict operational standards constantly audited, which may slightly diverse according to its obligations. If you start with the most basic steps mentioned above, then keep learning and sharpening your trading skills over time, you’ll set yourself up for the best chance of success. No matter how much you decide to invest in the FX market, remember not to risk more than you can afford to lose. To get started as a Forex trader, you should foremost consider how much you want to invest. Please contact your personal account service manager to help with payments by any other method. A valid proof of identity and proof of registered address is required in order to trade and withdraw funds. I have read, understood and accept the Product Disclosure Statement, and reviewed the Financial Services Guide.
Lexatrade Trading Conditions
Once traders download the app, they are welcomed with ready-to-trade demo. Lexatrade offers its customers more than 200 products to trade. The Lexatrade trading platform is known for its innovative features, including its proprietary dealCancellation tool, and its emphasis on transparent pricing.
Simply put, you can buy or sell the asset of your choice without the obligation of actually owning it. Nevertheless, if you prefer to use the most popular software MetaTrader4 it is welcomed also with the great trading conditions and customer service equipped together with Trading Central news and analysis. Also the Lexatrade innovative and intuitive app allows trading on any iOS or Android devices, giving access to markets anywhere and anytime. Going deeper into Lexatrade technology, the designed Market Explorer gives deep market insight, showing the real-time rates of 200+ instruments available to trade. Lexatrade is a Cyprus established firm which started its operation back in 2001 and was one of the first to offer online trading at their developed user-friendly platform. While traders who make consistently small deposits usually witness unhappy trading results.
How To Open An Account With Lexatrade?
Please make your choice depending on your knowledge, experience and personal preference. I would like to receive occasional newsletters, event information and special offers. Easy-forex respects your privacy and does not sell or rent its customer list. You can take the test after completing your registration or anytime later before you start trading. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits. Customer service is helpful, quick, and very easy to get in touch with via Messenger.
Trade currencies, commodities, metals, vanilla options and indices from one place without the jargon, complicated offers and confusing terms! Lexatrade started life as a forex trading platform under the name of easyForex. However, in 2016 it changed its name to Lexatrade and began to greatly expand its trading offerings. As a result, traders will find opportunities to trade and speculate on an immense number of assets, including commodities such as metals and gold. Read on to find out exactly what assets are available to traders on Lexatrade.
Considering these two factors, and the general reputation and history of both brokers, we believe that FOREX.com is the safer broker. The virtual version cannot be trusted due to the same glitch of the real. Then call again to place two orders and be able to extend the expiry date since position have a very close expiry date. The same manager guided me through, and mention that rollover is easy and free if required. I attempted to open two tickets, while the application did not let me, anyhow without confirmation the next morning one hour after market open the positions were submitted automatically without my authorization. Ability to add expert advisors, indicators, signals and other apps to improve your trading activity. No download is necessary; the platform is accessible in a few clicks and works on any operating system.
This means that you have the option to use a Forex robot which as an automated system that decides when to sell and when to buy instead of you, based on Forex Trading Signals. The parameters are usually set by experts on the basis of a set of mathematic indicators. We always strive to ensure that we provide our traders with the best possible trading conditions. This is why we proudly offer fixed spreads and no slippage on our web platform lexatrade broker reviews which means you are always aware of your costs before trading. Unlike variable spreads, fixed spreads never change in response to market volatility and you always know the spread you are paying before opening a deal. With over a decade of trading expertise and 100,000 fulfilled clients in 160 countries worldwide, Lexatrade will tick all your boxes whether you are a new or experienced trader, affiliate or introducing broker.
Demo accounts are virtual accounts providing the possibility to trade in financial markets in real markets conditions without risking any capital. It’s a tool of great help for beginners to get an exact feel of what exactly trading entails. It’s highly recommended to use a demo account either when you just begin trading, or when you want to test new tools or new trading strategies. Trading in financial markets is a high-risk activity that may bring a high profit, but you also have lexatrade forex brokers reviews the risk of partially losing your money. That’s why it’s always advisable to test yourself on a demo account for a while, trying out your strategies and sharpening your trading abilities. When you decide you are ready to pass to a real trading account, always start small and deposit more funds as you improve your results. Always keep in mind that you should only trade with amounts of money that you can afford to lose, not the funds that you need to cover your current expenses.
Lexatrade has headquarters in Limassol, Cyprus, and a branch in Warsaw, Poland. The company has additional worldwide locations in Majuro, the Marshall Islands, and Sydney, Australia. In 2010, Lexatrade integrated the popular MT4 Trading Platform. However, unlike other jurisdictions, residents in Australia, South Africa, and New Zealand have no additional compensation scheme in place to cover their deposits. Lexatrade is a company with an operating history dating back to 2001. Find out more about precious metals from our expert guides on price, use cases, as well as how and where you can trade them.
A Dailyfx recent survey involving more than 10,000 Forex market participants showed that traders with large account balances tend to be profitable on a higher percentage of trades. Differing from brokers in other markets, Forex brokers often require low minimum deposits . Information provided on this website is intended solely for informational purposes and is obtained from sources believed to be reliable and accurate. With one easy-forex account, traders can trade currencies, precious metals, energies and indices using their web, desktop or mobile platforms. Personalised training programmes, dealing room specialists, rewarding Introducing Broker and affiliate programmes are just some of the reasons why thousands of traders choose us every year. A pioneer in developing forex as a consumer product, easy-forex continues to lead with customized technology and personal service tailored to all levels of traders. You are now ready to fund your account and start trading currencies, commodities, indices and options – all from one account.
Unfortunately, these promotions, bonuses and offers are not available to EU clients for regulatory reasons. To cater to the needs of their varied client base, Lexatrade offers a range of accounts, with a variety of benefits and spreads. Free guaranteed stop-loss – Offered on the Lexatrade proprietary platform and app, this feature does what it says on the tin.
Account Types And Requirements
Our company is an independent legal entity and is not affiliated with TradingView. TradingView is a social network for traders and investors on Forex, Futures and Stock markets. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Further, such sites are not within our control and may not follow the same privacy, security, or accessibility standards as ours. Forex instruments were one of the first markets we offered to our clients in 2001. Back then we were one of the first brokers in the world to provide online Forex trading and credit card funding.
Under the menu, there is another “Deposit Funds” option along with a demo/live account toggle and live chat functionality. This panel contains the live prices and symbols of popular instruments traded on Lexatrade. Traders can search for a particular instrument via a search box, or navigate by category through the different asset classes. The upper menu of the screen contains the available balance, the amount at risk, profit/loss statistics, and the CFD margin level. A “Deposit Funds” button is located on the right of these statistics.
No information or other content on this site should be considered as strategic investment advice. There is a range of currencies available for trading and investing at Lexatrade, as well as a wide range of deposit and withdrawal methods.