Content
Also even though the Platinum and the Palladium market tend to move together in terms of price action and supply/ demand streams, recently the correlation may have been breached. From a trading perspective, Palladium can be very illiquid and this could act as a double-edged sword for traders, thus attention is advised.
None of the other methods have a minimum amount requirement. You can also deposit or withdraw money using e-wallet systems such as Neteller, Skrill or Fasapay. Andrew has a well-established career in fintech and came up with comparebrokers.co to make trading on financial markets more transparent and accessible. You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 3 minutes or so to complete the account opening process. Take time to look around the LexaTrade platforms and train yourself to think more systematically and logically about the markets.
For Non – European Clients, the company provides three types of accounts the Standard, Premium and VIP. For those with a little more experience, the “Discover” section looks at popular assets and describes concepts, terminologies and trading history.
Is LexaTrade A Good Platform?
UK residents will be trading under the subsidiary, Easy Forex Trading Ltd., regulated by the Cyprus Securities and Exchange Commission . CySEC requires that brokers keep client funds in segregated accounts, that brokers provide negative balance protection, and that brokers issue monthly statements to the regulatory authority. Founded in 2001, LexaTrade is a well-regulated market maker with no dealing desk intervention. It offers trading on six different instruments, including commodities, indices, metals, shares, cryptocurrencies, and over 103 currency pairs, many more than most other Forex brokers. The LexaTrade advanced trading tools for MetaTrader 4 are aimed at improving the total trading experience and providing traders with a competitive advantage.
As part of its core value of transparency, the firm lets its clients know that all client funds are separated from LexaTrade funds. Clients’ funds are segregated and placed safe and secure in top-tier banks and customers will be able to access their funds. The firm offers capital adequacy that maintains sufficient liquid capital that covers all client deposits, potential fluctuations in the company’s currency positions, and outstanding expenses.
Under the menu, there is another “Deposit Funds” option along with a demo/live account toggle and live chat functionality. 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.
Before you can trade with LexaTrade for the first time, you need to answer a few questions. The professional account is also listed as a “VIP” account with which traders benefit from a variety of perks. Easy Markets Pty Ltd is authorized and regulated by the Australian Securities and Investments Commission and holds an Australian Financial Services license . By 2015, the company officially offered over 300 markets in a variety of asset classes. The most popular blog posts are about gold, food prices, and pay gaps. If you don’t have time to read the entire article, you can always bookmark it for later. Before you consider trading cryptocurrencies, you may want to learn about how cryptocurrencies are mined and what experts think about them from our general guides.
LexaTrade Cryptocurrencies Spreads
We sent messages to LexaTrade livechat through their app and website and recieved a response within 3 minutes. Its important you test the LexaTrade chat service yourself. A responsive chat service from LexaTrade gives a great support experience to LexaTrade chat service users. As a market maker, LexaTrade may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically have larger capital and minimum trade requirements.
Additionally, LexaTrade’ processing times are around the industry average. All contents on this site is for informational purposes only and does not constitute financial advice. Consult relevant financial professionals in your country of residence to get personalised advice before you make any trading or investing decisions. Daytrading.com may receive compensation from the brands or services mentioned on this website. In terms of usability, the site has a heavy emphasis on ensuring users can quickly and easily navigate while making trades. The platform itself has a relatively good range of different accounts and instruments to choose from. Regardless of what type of trader you are, you should find something here to meet – and potentially exceed – your requirements.
This tool essentially supports traders without the technical know-how in making trading decisions. Trading Central is considered one of the best trading tools in the industry, and LexaTrade does well to offer this tool to its clients. Trading conditions at LexaTrade are around the industry average, with average spreads and low minimum deposits. Spreads are fixed at between 0.9 and 1.0 pips (EUR/USD) on its account, and the minimum deposit requirement is only 25 USD. Overall, compared to other brokers, LexaTrade’ trading fees are around the industry average across all accounts, and the minimum deposit requirement only 25 USD makes it appealing to most traders.
- In addition, the withdrawals can be up to 1 – 3 working days.
- It allows users to simply log on via the LexaTrade websites and begin trading instantaneously, with no requirement to download any additional apps or software.
- No, LexaTrade does not provide service in Japanese If the service becomes available in Japanese in the future, the information will be updated in LexaTrade’s company introduction page.
- Its important you test the LexaTrade chat service yourself.
- Traders can upgrade to a real account by tapping the ‘My Account’ menu item at the bottom of the screen and selecting the ‘Make a Deposit’ button.
- The fee is depending on the asset/market and position size.
You can download the LexaTrade app or also trade with LexaTrade through the MetaTrader 4 application on the Apple app store. You can trade a wide variety of instruments with LexaTrade over 200 instruments infact. If a market order is not fulfilled by your brokerage usually no commission is charged. An account inactivity fee is a fee charged to the registered brokerage client. The LexaTrade platform is available to use on multiple devices includingWindows PC, IOS devices like iPhones and iPads, Android devices and online through a Web Browser. Over 20 years later LexaTrade has grown to offering retail investors CFD trading, Forex trading, Commodities trading, Indices trading, Shares trading, and Crypto trading.
For example, they could not provide any information on the swap fees of the various instruments. The LexaTrade mobile app has more features than the standard MT4 equivalent. It’s user-friendly, fast, easy to navigate, and comes standard cryptocurrency with all additional trading features offered on the LexaTrade desktop platform. Overall, LexaTrade offers a wider range of deposit and withdrawal methods than most other brokerages, and all deposits and withdrawals are free.
LexaTrade Risk Statement
Users can enjoy up to £750 free to use on their LexaTrade account when they refer friends to the broker via email or social media. As with deposits, LexaTrade offers a variety of ways to withdraw money. At LexaTrade, the leverage rates vary depending on lexatrade scammers the nature of the trade being considered. They also vary by account type, and the geographic location of the trader. Choice of account type can affect the spreads too, though the accounts available to each trader will depend on their geographic location.
The platforms deliver proprietary features, such as Freeze Rate and dealCancellation. Our traders are often new to trading, and need to learn the skills needed to be successful. We provide full and in-depth training courses and in addition to account service managers we operate a dedicated customer support team who resolve issues in minutes. Between 74-89% of retail investor accounts lose money when trading CFDs. MetaTrader 4 MultiTerminal provides a intuitive easy to use dashboard where traders can administer and supervise several trading accounts. MultiTerminal will let you manage over 100 Accounts simultaneously allowing you to place market orders, pending orders, view live market prices and track all accounts and equity at real time.
LexaTrade Launches A New Unique Tool
You can enjoy our Raw Pricing trading environment without a Dealing Desk from anywhere in the world. An award-winning favorite among many brokers, the MT4 platform was created by the fintech company ‘MetaQuotes’ and is highly customizable. Th platform offers extensive features like s a favorite among traders and offers a vast range of features and tools. MT4 also offers many tools like technical, Expert advisors for automated trading, indicators, signals, and other great tools that can improve the trading experience for many users. We were disappointed that LexaTrade does not offer MetaTrader 5 . Securing funds and investments are very important to any trader in online trading. LexaTrade have financial security programs to protect their clients.
You will not be able to trade Stocks, Indices, Commodities, ETFs, Futures on any MetaTrader 4 platform unless they are CFD contracts or Spread bets. You will not own any underlying assets with CFDs or Spread bets as you are speculating on price movements with LexaTrade. If you are no longer using your trading account close it with the brokers customer support. And make sure you have a confirmation that any remaining fees are not due. Inactivity fees are not specific to online trading accounts. Many financial service companies may charge inactivity fees. Please check on the brokers website and make sure you are aware of and are happy with all the services and fees you may be charged.
Don’t Miss A Trading Opportunity
This type of order can be used when the current price is lower than the value you set. When traders think the price will reach a certain level and continue increasing, they usually use this. This opens a trade where you either place buy or sell orders at the current market price. While Pending Orders is a type of lexatrade reviews order that allows you to buy or sell at a pre-determined price in the future. This can be ‘Buy Stop’, ‘Sell Stop’, ‘Buy Limit’, and/or ‘Sell Limit’. With these awards, we can say that LexaTrade is living up to its core values as a simple, honest, and transparent broker that gives good service to its traders.
The fee is depending on the asset/market and position size. In the beginning, the firm started accepting initial deposits from $25 and only offered Forex to trade at the time, until it grew to the company that it is now. Over the years, LexaTrade expanded its trading options and CFD offerings to include global indices, energy, metals, and more. In 2016, the name of the company was changed from easy-forex to LexaTrade.
A Tier 1 bank is considered the safest and most secure regarding client capital. Tier 1 is actually a term describing the financial strength of a bank. A Tier 1 bank has strong core capital reserves and financial regulators utilize tier one banks because they are able to withstand unexpected financial losses. Tier 1 is the official measure of a banks financial health and strength. When choosing a broker like LexaTrade the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion.