Why LexaTrade Doesn’t Suck in 50 Words

This broker offers a balanced mix of functionality and user-friendliness. It doesn’t throw complicated terms at you, and you don’t have to be a trading wizard to use their platform, but on the other hand, if you are a technical trader, their platform offers enough features to keep you satisfied. And besides, if you really want to do advanced technical analysis, LexaTrade offers Meta Trader 4 so you can have the best of both worlds.To get more news about lexatrade review, you can visit wikifx.com official website.

Why LexaTrade Sucks in 50 Words
If you want to use the web version of Meta Trader 4, you will have to open a Gold account and the minimum deposit for that is $10,000. Quite expensive, right? And keep in mind that the web version of MT4 doesn’t have all the functionalities of the downloadable version. Assuming you want the full functionality, you will have to open at least a Platinum account, which will require a $50,000 deposit… and ThatSucks!

On the other hand, the majority of traders don’t need Expert Advisors, scripts and the (sometimes) stuffy interface of Meta Trader. Besides, LexaTrade’s Web platform offers all the tools that can turn a skilled trader into a profitable trader.

Is LexaTrade A Scam?
All early signs show that LexaTrade is not a scam but keep in mind this is a very new CFD broker. The general online opinion is favourable and this is always a good thing because as soon as something goes terribly wrong with a broker, people flock to online forums, chat rooms, and social media to bash the said broker. This is not the case with LexaTrade and thus far we consider this CFD broker a reliable partner for your trading needs.

Also keep in mind that the company is regulated (IFMRRC), which is not the fiercest of financial watchdogs, but any type of regulation is better than no regulation at all. That being said, caution should be used anytime money is involved, with all brokers, old or new.

Should I Open An Account With LexaTrade?
LexaTrade is a newly launched, regulated broker that offers CFD trading on currencies, cryptocurrencies, indices, and commodities. The owning/operating company is Swissone Group Ltd, located in St. Vincent and the Grenadines and registered with the IFMRRC – Certificate TSRF RU 0395 AA V0165.

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.

The main platform they offer is web-based, with good charts and enough tools for technical analysis, but nothing to write home about. It’s okay but don’t expect some Meta Trader 4 level of drawings and indicators. And since MT4 is available for higher-tier account holders, let’s talk about that:

LexaTrade offers 5 account types: Start (min deposit $250), Silver (min deposit $3,000), Gold (min deposit $10,000), Platinum (min deposit $50,000) and VIP (min deposit $100,000). Each account comes with different perks and advantages – the higher the account type, the better the perks.

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.

The overall structure of the accounts at LexaTrade is too expensive in my opinion and putting a $10,000 barrier between the trader and MT4 means that the majority of clients will not use this platform. On the other hand, the Web platform offered for the minimum account is quite enough for the average trader, so maybe that’s not a deal breaker.

Overall this is a promising broker but a few tweaks here and there would make it a better one. 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.