The calculation of the Spread can be conducted by subtracting the sell price from the buy price of the instrument. The Dynamic Spread can change during the period of which your position is open, whereas the fixed spread remains unchanged at all times. LexaTrade puts limits in place that ensures clients cannot lose more than they have put into their account. You can also place stop losses on some instruments but you will have to pay a wider spread. When a trader wants to withdraw money from LexaTrade it offers various methods such as credit and debit cards, PayPal, Skrill, and bank wire transfer. This can impact the trading fees without question if the trader tends to hold positions for a longer time. CFDs are complicated instruments and accompany a high danger of losing money quickly because of leverage.
Change percent alerts will notify you when the absolute price of an instrument changes of a certain level. At the top of the economic calendar, you can also switch the view to a corporate events calendar. This will show you the time and day of the event, as well as the name and quantities with sections for cash, fiscal, and dividends. To upload the documents, go to your Account page and select “Verify Account” or “Upload Documents.” You can also do this via the mobile application. LexaTrade offers four types of Stop Orders, including Trailing Stop Orders, Guaranteed Stop Orders, Close at Loss Orders , and Close at Profit Orders . You can learn more about each instrument on the LexaTrade platform by going to the Details tab for a given instrument while on the platform. Options are divided into popular options plus 23 other categories, such as Germany 30, Alphabet, and USA 500.
Both web and mobile platforms are easy to navigate and use, with nice and clean design and great charts, also with well-defined product search functions. Even seeing the platform for the first time you get around quickly, as simple to navigate and analyze interface will definitely compliment your strategy. It is indeed sometimes hard to define whether the fees are good or not, for this reason we will see further as it is important to compare brokers and LexaTrade. Each instrument defines its own margin to be traded, also is different according to leverage you will use.
Scammed
Just for the last year over 39+ Million Positions were opened and traded value of over 1849$ billion was transacted. It should be noted that CFD trading, especially using leverage is not something for beginners. You should have a strong knowledge foundation of how the markets work and carry out thorough research before beginning. We recommend you take advantage of the demo account first which will give you $40,000 of play money to test the system.
Before co-founding LexaTrade, Mr. Haber served as chief operating officer of InterLogic Ltd, a ‘skilled games’ programme provider for the internet, and mobile devices, which he co-founded in 2004. At his current job, Haber has contributed significantly to the development of LexaTrade’s trading platform, making it user friendly and all-round more competitive. LexaTrade provides 24/7 email and live chat support in 15 languages. What users need to do is fill in the form available at the “Contact Us” section of their website and submit their “Request Form”. Following the submission of the Request Form, LexaTrade’s response will be sent by email directly to the email address the customer specified in the Request Form. This segregation is expected to prevent your funds being compromised in case of company’s liquidation. LexaTrade does not use client money for hedging, or any other investment or business purpose.
Forex
Inactivity fee Low $10 per month after 3 months of inactivity. Inactivity means that you don’t log in to your account. LexaTrade has a simple, easy-to-use site, with an especially well-designed mobile platform.
Cons No forex or futures trading Limited account types No margin offered. And, although the broker maintains an aggressive program to avoid conflicts of interest, they act as a counterparty, setting bid and ask values that may not match consolidated market feeds. Check out some of the tried and true ways people start investing. You can use indices quotes the order window to indicate how many CFD stocks you would like to trade. Plus, those looking for more fundamental research will find plenty. Those who select the Demo Account will see the same layout that retail clients see. More experienced investors may prefer the more commonly used MetaTrader 4 Platform to the bespoke Trading app.
How To Make Money From LexaTrade?
For those individuals who would like to trade assets other than cryptocurrencies, then they can make use of the handy economic calendar. This is presented below and gives an overview lexatrade courses scam of the most important Macro announcements coming for the week. There is also the option to expand the chart should you wish to crack out the technical analysis tools.
Even so, LexaTrade can offer some of the tightest spreads within the industry, a qualification that is based on its own internal monitoring. If you participate in prohibited trades, LexaTrade has the right to void trades and close your account. Here, you will be able to set Stop Orders for risk management. The rates are updated constantly based on market movements until you click the Buy/Sell button. This is where you will find such information as the minimum trading size for a given instrument, its trading hours, its leverage, and margin requirements. Additionally, it is possible to use the platform in more than 30 different languages, allowing clients to trade and learn in their native language. I am already trading there for more than a month, I’m very satisfied and didn’t had any problems to withdraw – so I’m sure they are not a scam.
If you are looking for features such as comprehensive educational resources, free VPS, and advanced trading platforms like MT4 or MT5, this brokerage will not suit your needs. LexaTrade is an industry leader that provides CFDs and leveraged trading. It offers two-factor authentication, even though the trader submits their username and password during login. The necessity to provide two-factor authentication is to confirm user identity. Besides the confirmation code is sent through email, phone, or an app and it expires within minutes.
Desktop Trading Platform
This means that the company had to comply with a number of requirements as outlined in UK law before they would be allowed to provide such services. Based in the UK, LexaTrade UK Ltd aims to provide its users with a secure and efficient multi-asset service that is on par with the top CFD providers operating in the sector. I have to admit that they are one of the very few brokers I want to deal with.
Thanks to the proprietary technology from LexaTrade, it is possible to enter new geographies without having to be physically present within those markets. The focus in this respect is on acquiring new customers within regulated markets, particularly Western Europe. In 2015, LexaTrade became a sponsor for Atletico de Madrid football club, the Spanish champions. A Windows mobile application was also added to the offerings this year.
Account Opening Process
When compared to other brokers, plus 500 offers lower fees for the benefit of its traders. It provides various tools to help the traders to manage their risk factors. Some of them include stop-limit / stop loss, trailing stop tools, and guaranteed stop. Additionally, LexaTrade provides alerts on market events and price movements for its traders.
- Its security measures comprise fingerprint unlock, in addition to other things, to open the application.
- It allows traders to gain exposure to the financial markets by self-funding only a fraction of the total value of a trade.
- No deposit or withdrawal fees are charged by the broker.
- We recommend staying within the range of good taste and respectful language to avoid any unpleasantness.
- At the top of the economic calendar, you can also switch the view to a corporate events calendar.
- This platform is focused on those individuals who simply need a structure for executing trades.
Réka has attended the International Business and Economics bachelor program at the Corvinus University of Budapest for the past 3 years. As an intern at BrokerChooser she wants to help investors find the best investment providers. On a more personal level she wants to develop her lexatrade reviews skills and grow professionally on this field. Here’s our expert view after checking the LexaTrade trading app. LexaTrade is listed on the Main Market of the London Stock Exchange, which is a big plus for safety as LexaTrade releases financial statements regularly and transparently.
So the multiple failed withdrawal requests is now a complaint and it appears that you have now lost the balance of your original account while you stock market lodge a complaint with the Australian Financial Ombudsman. After trying to withdraw my funds my request was rejected AND my account deleted!
The profit or loss for the trader is calculated according to the difference between the spreads in the price of stock market an asset between the open and close of the day. It is also necessary to provide ID when processing payments.