Month: July 2023

The insurance covers upto 100% of total loss on all trades opened on the deposit day. LexaTrade is a Forex and CFD dealer that offers to alternate is lexatrade legal in india in currencies, indices, and commodities. The figure company of LexaTrade is Swissone Group Ltd, positioned in St. Vincent and the Grenadines.

Executive News

However, it is an offshore broker restricted to operating in the US and Europe. As the platform is not worth considering, I was looking for the best alternative, and after researching for days, the most recommended broker I found was InvestFw. The platform offers a long list of trading instruments, is regulated and most importantly, is not a scam.

From the business

1. The platform supports  bank wire, credit /debit cards, Skrill, Neteller and OrangePay for both deposits and withdrawals.
2. This includes video courses and E-books, similarly the questionnaire section offers the questions related to customer’s feedback on the platform.
3. The broker provides a decent and fair set of trading conditions coupled with some advanced trading tools and platforms.
4. While there is no specific legal framework for MetaTrader 5, it is considered a legitimate trading platform in India.
5. LexaTrade offers trading instruments in stocks, shares, commodities, and foreign exchange markets.
6. However, it is an offshore broker restricted to operating in the US and Europe.

Lower deposits, more information about deposits and withdrawals, a basic FAQ, and a demo account are just a few adjustments that would go a long way and would make LexaTrade a higher-tier broker. That being said, they are very new at the time of this review, so there is time for improvement. This does seem like a friendly broker, but I am not sure it’s the best choice for a total beginner, simply because the lowest deposit to open an account is $250. Many regulated brokers allow $50 and even $10 as minimum deposits, so maybe you should pick one of those. On the other hand, if you are confident in your abilities and $250 is not a lot for you, then LexaTrade may be a good choice.

Can I use MetaTrader 5 without a brokerage firm?

It is not necessary to wait for some news, and the market is moving unpredictably. LexaTrade’s live chat through its trading platform is complemented with other social media platforms, including Skype and email, as additional means of communication. LexaTrade’s funding options are limited to the following – VISA/Mastercard, cryptocurrency, Skrill, Neteller, and Arangepay. A 5% additional commission is charged for clients conducting less than 5 independent transactions. A range of account types welcomes traders of all backgrounds and skill levels in LexaTrade. It offers a Start account, Silver account, Gold account, Platinum account, and VIP account.

The platform allows traders to access all popular commodities worldwide. However, much information regarding the same is unavailable on its website. The deposits are processed instantly, while withdrawal may take up to 3-5 business days. Yes, LexaTrade is a scam dealer because it isn’t always regulated by way of any top tier regulatory watchdog. However, it holds a licence from the International Financial Market Relations Regulation Center.

To make sure you stay on the right side of the law, we’ll introduce 3 sub-sections. Trading in India may have its restrictions, but with proper due diligence and adherence to regulations, MetaTrader 5 can still be your gateway to international markets and profitable trading options. “If, in general terms, the company works honestly, and I would not say that LexaTrade scammers. If there is a drain, then the fault of the current customer who could not calculate the risks and got into a situation when the deposit is squeezed to margin stake and can ultimately fly out by stop out, now the volatility is very high.

Aside from throwing shades to broker, some online client reviews also burst out that LexaTrade scammed them by not allowing them to withdraw their funds from their accounts. Albeit contrary to one client review above, the issue can be easily identified as a misinformed judgment on the client’s part. This is because it is clearly stipulated in the broker’s Refund and Withdrawal Policy that broker may refuse to process the client’s withdrawal request if the client is suspected of violating the terms of agreement on the terms of service. In one way or another, clients who were unable to withdraw their funds from their accounts might have violated some conditions and guidelines without them knowing it.

These clients are proof enough that LexaTrade is far from what others think about the broker and its services. Clients were not even all praises in the entirety of broker’s services, leaving some room for improvement and giving us a clear indication that LexaTrade also has its shares of flaws and setbacks. However, these shortcomings are way different from allegations of fraudulent acts and schemes. Lexa Trade allows global traders to access financial markets, including Forex, Stocks etc.

LexaTrade has been under scrutiny within the trading community, with increasing concerns regarding its legitimacy. Traders and investors are questioning whether LexaTrade is a reliable platform or if it conceals a sophisticated scam. Users can cancel their trading account at any time by sending their concerns to an email address or by contacting an administrator.

The software also provides access to comprehensive fundamental analysis tools. In terms of financial instruments, account type gives users access to forex, cryptocurrency, commodities, and limited stock assets. LexaTrade ReviewProper regulations usually ensure that forex brokers are sufficiently capitalized in the event of insolvency or trading losses.

LexaTrade presents itself as an online trading platform, offering users access to various financial instruments, including forex, cryptocurrencies, stocks, and commodities. The platform claims to provide advanced trading tools and a user-friendly interface suitable for both beginners and experienced traders. Earlier on 7th September 2022, RBI issued an “Alert List” comprising names of apps and entities that have not been authorised to deal in forex and to operate electronic trading platforms for forex transactions. Many unauthorised platforms lure people by promising lofty returns on investment.

MT4 is one the world’s most famous and reliable trading platforms for Forex. The user-friendly UI of the platform helps both beginner and professional alike. The platform supports  bank wire, credit /debit cards, Skrill, Neteller and OrangePay for both deposits and withdrawals. The broker offers 5 primary account types, catering to the needs of every sort of trader. The minimum deposit at LexaTrade is $250m whereas its competitors offer account opening at $0.

However, the broker has a low user rating, with mixed reviews as some complain about the platform while others appraise it. So, to help you out in deciding whether it’s a worthy broker, let’s take an in-depth look at the platform https://turbo-tax.org/ with our detailed LexaTrade review. A brokerage firm is a financial institution that facilitates buying and selling of financial securities. Traders can open accounts with brokerage firms to access trading platforms.

It is also necessary to consider the role of brokers in India’s financial markets. Using MetaTrader 5 in India has some concerns, particularly regarding compliance with Indian trading laws, rules, and restrictions. The use of margin trading, leverage, scalping, hedging, stop loss and the like must comply with applicable regulations. Additionally, currency pairs that involve the Indian rupee may require traders to follow specific guidelines. While MetaTrader 5 offers options for trading in international markets and a range of financial instruments such as futures and commodities, adherence to forex trading laws and currency trading laws remains necessary.

All we could find is that withdrawal processing takes up to 24 business hours and that a representative will contact the client in order to complete the processing of the withdrawal. Autochartist signals are available at the bottom of the trading platform and while this is not a game changer, it’s still something worth mentioning, especially because some brokers charge you for Autochartist. Of course, we cannot vouch for the accuracy of the signals but it’s a nice addition. A higher account tier will get you increased withdrawal speed, lower spreads, access to trading techniques and a trading academy, passive income (although they don’t explain at all how you will get this passive income), and more. The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client.

Me helped someone got their stolen money and I decided to give it a try and later put a smile on my face. Kingsley Cole, A young and brilliant guy, called me and gave me the details via skype video call, email and normal call, I adhere to what he told me and I am experiencing it in a positive way. There are 170 trading instruments on the platform, among them the most popular stocks and indices, precious metals and energy products. After defining your working portfolio, you can add favorite tools to your favorites, where a convenient working system was specially designed for users of the platform.

However, using such platforms is not just risky but may also land the users in legal trouble. Users of these unauthorised platforms may be prosecuted, according to RBI. Its mission is to provide traders and investors with maximum security of their transactions on foreign exchange, cryptocurrencies, and stock markets. In addition to assessing the platform itself, one should also research brokers’ legal standing in India.

The charges are higher compared to the platform we have reviewed so far. The spreads vary on the account type and the  instrument traders trade in. There is no fee to open an account and the fees for deposits and withdrawals are not specified anywhere on the website.…