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Forwards are some of the most popular financial instruments used by large institutions in order to hedge out the risk of future currency deals. They are also used by speculators to bet on the price of a currency in the future. Given the unique nature of these instruments, LexaTrade has developed their own unique trading platform to manage them.
- But, compared to the top brokers that offer thousands of trading instruments, LexaTrade lags behind with less than 200 tradable assets.
- In practice, this offering is similar to one-click and automated trading, as provided in the MT4 trading platform, though the MT4 offerings are far superior.
- You can use dealCancellation – a service that gives you the possibility to cancel losing trade for 60 minutes for a small fee .
- However, there is a set limit of $70 for minimum transactions across all accounts.
- There are also a plethora of assets that you can trade on their platform with low spreads.
- Most other platforms that we have seen have a limited subset of option expiry dates .
At this stage, you can switch between the live and demo account. To start off with real trading, you will have to complete the account registration by filling in necessary KYC details. Additionally, you will have to select the currency among the 20 available, including EUR, USD, GBP, PLN, AUD, CAD etc. The minimum deposit requirement is $100 or the equivalent in other currencies. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.
Supported Platforms For LexaTrade
JCB cards can be used by only European clients and the AstroPay card is accepted from all except EU and Australian clients. Card payments are processed instantly and attract no charges. Unique and innovative trading forex broker tools like dealCancellation and Freeze Rate are available. Simple definitions to international markets trading terminology. T&C’s apply to each of the offers above, click “Visit Site” for more details.
She was able to answer our questions quickly and comprehensively. We also reached out to other agents at different times of the day and they were similarly helpful. This tool could also be helpful around economic events that tend to drive up the volatility in the markets. This could include the likes of a central bank announcement or the Non-Farm Payrolls. The dealCancellation is a great tool for those time you want to trade important market moving events. These could include the likes of the Brexit referendum where there is usually a binary outcome on said event.
Once traders download the app, they are welcomed with ready-to-trade demo. Traders can switch to a demo account by shifting the Live/Demo toggle at the bottom of the hamburger menu — both on desktop and mobile.
Assets and contracts for difference include forex, cryptocurrencies, metals and other commodities, indices and vanilla options. The broker even offers option based trading with its limited-risk easyTrade service. LexaTrade, being a market maker, offers guaranteed take profits and stop losses, which are not available with direct market access trading. ECN and STP accounts cannot guarantee that an order will be filled at an exact market price, since market conditions, volatility, and the volumes in the market determine the outcome of a trade. Even entering and exiting the market can induce heavy slippages, which can include both positive and negative slippages.
I Want To Trade Options, Are They Available At Markets Com?
LexaTrade offers two different account types, with trading conditions that vary depending on the platform chosen. The company has since expanded its trading options, adding the CFDs, commodity indices, vanilla options and Forex contracts – the latter two of which are difficult to find in other brokerage firms. ICO (cryptocurrencies) This managing broker team has already earned a good reputation for simplicity and transparency, and this is another reason why many of the world traders have chosen LexaTrade for trading. Being one of the leaders in the forex trading industry, the LexaTrade broker opened its doors for business in 2001.
Commodity.com makes no warranty that its content will be accurate, timely, useful, or reliable. LexaTrade offers over 200 products to trade on desktop, mobile, and all other responsive devices — it is an established broker regulated by FSA, CySec, ASIC, and BVI. Whether LexaTrade is a “good” broker or not will depend on the trader’s individual needs. LexaTrade hasn’t yet published spreads for all their listed cryptocurrencies. Note that cryptocurrency spreads may be adjusted more frequently than other assets due to high volatility.
We also review and explain several technical analysis tools to help you make the most of trading. Commodity lexatrade official site exchanges are formally recognized and regulated markeplaces where contracts are sold to traders.
Deposits And Withdrawals
Moreover, the broker catered for convenient payment options. That’s why the clients can deposit or withdraw funds using credit/debit cards, online banking systems, eWallets and wire transfers. Our LexaTrade review figured out that making the deposits does not entail any extra fees or commissions. For most payment methods, LexaTrade processes the deposits within 1 working day. It is designed for android and iOS devices and can be downloaded from the Play Store and app stores.
EURUSD spread is 1.4 pips on the MT4 and 1.5 pips on the web/app platforms. The quickest and easiest way to contact customer support is through live chat, which is available 24/5. If you do not require these extras or you aren’t looking to invest a lot of money, you can get the VIP spreads on the Standard account if you deposit $250.
Recommended Forex Brokers
It’s a new skill-set for many, but it is what the market requires of you. A stop-loss order is an order placed with a broker like LexaTrade to buy or sell once the stock reaches a certain price. A stop-loss is designed to limit a traders loss on a security position. LexaTrade also offer mobile apps, for Android and iOS making it easier to keep an eye on and execute your trades while you’re on the move. Commission fees can differ depending on the trading type, financial asset type and what level of trading account you have.
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. LexaTrade began its foray into the world of online trading in 2003. It started life under the name of easy-forex, but decided it was time for a rebranding towards the end of 2015 when it became LexaTrade. Today it is able to offer traders a wide range of tradeable instruments all from one trading account. The home of LexaTrade is Limassol, Cyprus, and as such it is licensed and regulated by CySEC; which also means that under MiFID it is licensed to operate throughout Europe.
Author Of This Review
Traders have plenty of choices, which include bank wires, credit and debit cards, Skrill, Neteller, Sofort, as well as several regional-only options. The processing times are listed between instantaneously lexatrade scam and five business days, and the overall selection of payment options is solid. As required by its regulator, the name on the LexaTrade account and the payment processor needs to be the same.
Assets available on LexaTrade include CFD, Forex, Commodities, Indices, Shares, Crypto. It is only difficult for people who have not done the research. In this article, you will learn important information regarding LexaTrade that will help you get off to a good start in the world of online trading.
LexaTrade has also developed some really helpful trading tools that give their users more choice. Many of these are patent pending and they are all within the rules that are defined by the regulators.
The firm can be reached by phone, various chat channels, email, and web forms. The support desk operates 24/5 and has different language support. LexaTrade core value is to simplify trading and its customer support and service is one-factor proof that it is easy and simple to reach their support team. Yes, our review Electronic trading platform of LexaTrade found that the broker is regulated by ASIC and CySEC. These are two very stringent regulators that offer investor compensation schemes, segregated bank accounts, and a high level of broker transparency. LexaTrade provides the MT4 trading platform, as well as its proprietary webtrader platform.
Multiple payment options are available including cryptos and online payments. LexaTrade launched the one of the world’s first web-based trading platform in 2001 with a plethora of asset classes, including forex, commodities, stocks and options. LexaTrade features competitive fixed dealing spreads, dealCancellation and easy risk management options. You’ll also find MetaTrader 4 and LexaTrade’ own web-based and mobile platforms at your fingertips. LexaTrade can be a good choice of a broker in the industry, but other brokers can offer smaller deposit options with far better costs of trading. Open an account and trade with an LexaTrade demo account today, to test these services for yourself.