Lexatrade caters to most international traders, including the UK, Australia, South Africa, New Zealand, and the Netherlands. After three months of inactivity, Lexatrade levies a $10 inactivity fee. The commission-free trading costs at Lexatrade are better than competitively priced, commission-based competitors. Compared to other commission-based pricing environments, they rank among the better ones. Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights, in the commission-free Lexatrade account. Lexatrade is legit and regulated by the top financial authorities.
Lexatrade broker is regulated by the financial conduct authority, which is the official regulatory body of England that ensures that the brokers deal with the client funds safely. Moreover, Lexatrade UK holds several segregated accounts compared to other UK trading brokers, where the trader is ensured that their money is secure. Once you have created a Lexatrade trading account, all you have to do is to deposit some money and start trading. The minimum deposit for a live account to start trading is $100, which is not that much, especially compared to other CFD brokers on the market. There are many different payment methods available, including Credit/Debit cards, Bank transfers, PayPal, Trusty, and others. For Credit/Debit card users, the maximum deposit that they can make is $39,000, and deposits are made instantly. When it comes to withdrawals, you will have to wait up to three working days.
Risk Warning – Trading CFDS, FX and Cryptocurrencies involves a high degree of risk. You should consider whether you can afford to take the risk of losing your money. 74-89% of retail investor accounts lose money when trading CFDs. You should ensure you are aware of the risks involved in trading and if you can afford to take the high risk of losing your money. A CFD brokerage primarily uses a market maker model with an internal dealing desk protocol. All clients’ orders are transferred through an automated dealing desk, where Lexatrade has total control over the flow of orders and is the ultimate market maker.
Moreover, any losses that are a result of mismanagement on the part of Lexatrade are insured up to the value of €85,000. Lexatrade does not provide its products and services to residents of United States. Lexatrade is a regulated broker in several countries and is listed on the London Stock Exchange, so its accounts are public. They certainly have a good marketing and advertising budget. But the truth is that it has a couple of features that are unique among investment platforms.
However, unlike its peers, the Lexatrade services provider does not have a popular MetaTrader4 platform with more options for customization and functionalities. Both do not have the essential cutting-edge features and optimized tools to take on the industry leaders head-on. For example, the website charts do not sync with those on the mobile app, as seen with some of the leading brokers like Saxo Bank and TD Ameritrade, which is exclusive for the USA residents.
Overnight Trading And Fees Associated With It At Lexatrade
You should definitely look for alternatives if you are a trader who uses this strategy. The CFD platform is listed on the London Stock Exchange, and has 3 tier-1 regulators, making it a very well-regulated CFD provider. The stock lexatrade reviews price went up almost 240% over the last three years, and the company’s revenue is following that trend of growth like a good duckling follows its mom. The only step that you have left is to deposit money and start trading.
Trading FX or CFDs on leverage is high risk and your losses could exceed deposits. But overall deposit and withdrawal plus account opening was smooth and easy. You can see the information regarding the spread and a future contract in the “Details” link next to the instrument’s name on the far right hand side in the main screen of the platform.
Gold, crude oil, natural gas and corn are among the popular commodities available to trade. A wide variety of markets and instruments to trade, with over 2,500 available CFDs.
I Want To Trade Options, Are They Available At Lexatrade?
Also as seen from their response, their “support staff” are morons that cannot even use correct grammar. If something happens or you complain these idiots are supposed to help out. I would change my review if they responded to my rightful complain, they never did investigate or reply back seriously giving the stolen funds back. And get all platforms to ban their activities, cancel their App. LexatradeCY Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission (Licence No 250/14).
Lexatrade is an industry pioneer providing CFDs and trading facilities for forex, cryptocurrency, ETFs, options, commodities, and indices. LexatradeCY Ltd offers a Lexatrade trading platform that is authorized and regulated by the Cyprus Securities and Exchange Commission (250/14). The company is authorized and regulated by the Cyprus Securities and Exchange Commission to offer CFDs in various products.
That’s impressive in its own right but, significantly, it’s more than other trading sites like eToro and XTB . The only other fees you have to consider at Lexatrade are the $10 a month inactivity charge and overnight funding fees. The latter will vary depending on the instrument you’re trading. When you’re depositing/withdrawing in a non-native currency, a conversion fee of up to 0.5% may be applicable. However, there are dozens of niche options such as palladium, cotton, soybeans and feeder cattle. Finally, alongside ETFs and Options, you can scroll through lists of shares categorised by countries and sectors. This means your money is shielded from any financial issues the company might experience.
- CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
- A contract-for-difference is a form of derivative trading that allows traders to speculate on price movements without owning the underlying asset.
- WebTrader allows users to easily create watchlists, analyze charts, enter trades and monitor positions in the market.
Even if Lexatrade defaults, a shortfall of funds to the extent of £85,000 will be compensated under the Financial Services Compensation Scheme. Lexatrade maintains 71 currency pairs, ten cryptocurrency pairs, 22 commodities, 33 index CFDs, 1,737 equity CFDs, 95 ETFs, and 877 options contracts. I like the overall breadth of trading instruments, as it serves most trading strategies well.
Platform And Tools
The first thing to note is that Lexatrade allows you to visually compare assets side by side to assess, and analyse investments and the price of the instruments you want to invest in. Unfortunately, it doesn’t seem possible to overlay the price of other instruments on the same chart. It’s noticeable that Lexatrade has put emphasis on creating a platform that provides users with good visual tools to analyse investments through charting.
Select the deposit method of your choice, fill in the required information, and click ‘Submit‘. You can view the current Lexatrade spreads for each instrument by clicking on the information icon on the far right next to the instrument’s name. The spread is the difference between the bid and ask price of a trade. Traders whose account balance falls below these requirements will scammed by lexatrade have their positions closed with no option to keep them open. Our proprietary trust score is calculated based on regulation, structure, client fund handling, risk management, and length of operation. We also review and explain several technical analysis tools to help you make the most of trading. Precious metals have many use cases and are popular with commodity traders.
We review Lexatrade for learning about the safety of trader funds, protection against broker issues, security from scam practices, and the overall trading experience. Once you have opened both a demo and a real money account, you can switch between the two on the main platform menu. The money in the demo account is topped up when the balance sinks to below $200. Lexatrade is a regulated lexatrade website online broker with a platform for trading contracts-for-difference on commodities, ETFs, forex, indices, options, and shares. Lexatrade isn’t available for U.S. clients since CFDs are still banned nationwide. But these instruments are perfectly fine in most European and Asian jurisdictions and Lexatrade is regulated by the respectable British Financial Conduct Authority .
Because we’re about to share the most up to date information in our Lexatrade review. Lexatrade holds a valid AFSL license from the ASIC, a financial authorisation from the FCA, and an EEA/MiFID approved regulatory license from the CySEC. A license from Australia’s Australian securities and investment commission . Overall, the asset portfolio options of Lexatrade are quite impressive and a good route to make money. Stop – This is a pending order where the entry is at a pre-fixed level, which might be above or below the current market rate, depending on whether the intention is to buy or sell. The expiration time of the order can also be selected by the trader. LexatradeSG Pte Ltd has a capital markets services license issued by the Monetary Authority of Singapore.
You’ll be able to access the thousands of available trading instruments and use all the tools and indicators found on the desktop platform. Trading is a seamless one-touch process and your account balances and details are easily located. The mobile app is available for both iOS and Android operating systems. This price is obtained from a range of independent third party reference sources, various nominated independent financial market data providers, who source their price feeds from relevant exchanges. Lexatrade’s prices can be found on our website or trading platforms.
External processing times depend on the desired option, but the FAQ section lists lengthy ones even for speedy online services. Here is a screenshot of Lexatrade live quotes during the London-New York overlap session, the most liquid one, where traders usually get the lowest spreads. You can withdraw money from Plus 500 after you have completed the verification process. All legit brokers must verify their customers before allowing them to trade. It is a bit difficult to list all the fees per trade based on the information that is available. The search function works and it allows traders to find the security they wish to trade.