As part of our annual review process, all brokers had the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy. Each broker was graded on 108 different variables, including our proprietary Trust Score algorithm. This innovative scoring system ranks the level of trustworthiness for each broker based on factors such as licenses, regulation and corporate structure . In most cases, there is some type of fees applied to the payments from the issuer of the payment. So, before you make any payment, make sure to double-check your information with the payment method representatives itself.
Based on hypothetical calculations on the leverage used, the amount of capital invested, and the type of position held, fees are low. The average cost lexatrade scam per trade is on the low-end of most online brokers. Plus 500 offers 60+ most popular forex pairs like EUR/USD, GBP/USD and EUR/GBP with leverage.
You can save having to pay the inactivity fee if you simply log in to the platform. In the case of some other brokers, you have to trade in order to not be charged an inactivity fee, logging in is not enough. So how did we approach the problem of making their fees clear and comparable? We compare brokers by calculating all the fees of a typical trade for selected products. We also compared LexaTrade’s fees with those of two similar brokers we selected, ActivTrades and Spreadex. This selection is based on objective factors such as products offered, client profile, fee structure, etc.
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. I agree for the support issue, but it is not too significant in my opinion. I started off just a couple of days ago , but i got my 20 euros from the phone validation and the platform works great for me. After double checking of our security department, you will not able to trade with us and we will not able to provide any further information. You will find that any positive comments left on this forum are made by plus 500 employees. Please make sure your comments are appropriate and that they do not promote services or products, political parties, campaign material or ballot propositions.
The third and final way you can deposit money into your LexaTrade account is by making a direct bank transfer. LexaTrade accepts all major debit and credit cards, including VISA and MasterCard, and deposits are credited to your account instantly. When it comes to depositing, there are many different payment methods you can use, the most common being debit and credit cards.
In this case, for example, the Cypriot investor protection would apply to you. You can find the educational tools on the LexaTrade website, under ‘Trading’ if you click on ‘Risk management’ or ‘Trader’s Guide’. In addition, if you browse their FAQ, you will find a few more videos detailing, for example, the process of payment verification. These can be of great lexatrade forex brokers reviews use, as there’s a high risk of losing money when trading CFDs with this – or any – provider. Each LexaTrade Bonus Code grants more capital, tied to TraderPoints , required to turn it into withdrawable cash. The Welcome bonus offers A$/S$80 or R850 and 80 TPoints, BRONZE is A$/S$200 or R1,000 and 150 TPoints, and SILVER is A$/S$300 or R1,600 and 200 TPoints.
Deposit Fees And Options
LexaTrade is a great, simple-to-use platform, with an especially useful mobile app. Their platform is great for intermediate to experienced traders. Whilst most of our data has been verified directly from these brokers, it can occasionally vary. We are not responsible for incorrect or outdated information within our online trading broker reviews and you should confirm all data directly with the broker. Rates, terms, products and services on third-party websites are subject to change without notice.
- Yet, you should always give some days for your payment provider to process the transaction which depends on the jurisdiction and provider rules.
- Within global financial markets, LexaTrade is one of the most reputed CFD traders with high turnover and outstanding corporate governance.
- The demo account is one of the most popular types of accounts on the market.
- This is a flexible type of account that helps you gain access to comprehensive investment products, objective research, and in-built trading platforms.
- If you neglect the terms, then LexaTrade has the right to nullify your trades and close the account.
- Remember that if you do not want to use your trading account you can easily avoid paying this fee by simply deactivating your account.
I also really like the open and closed position tabs, as these allow you to easily and quickly keep track of your trading activity, and there are many ways of doing so. Once you click one of the instruments available, you’ll then be able to view a more in-depth breakdown of what’s on offer. For example, you’ll be able to find Forex trading, CFDs, cryptocurrencies and more. You can access all these instruments without needing to pull up any separate windows too, which is a feature I really like. This section showcases some strategies to minimize risk, and can be incredibly useful, again, for those brand-new to trading. While I wouldn’t say their videos are award-winning by any means, they do help new traders to develop an understanding of the basics and can serve as a useful resource when first starting to trade.
To switch, click on ‘switch to demo mode’ in the main platform screen or from the app’s menu. In the sections below, you will find the most relevant fees of LexaTrade for each asset class. For example, in the case of forex and stock index trading, the most important fees are spreads, commissions and financing rates. Investor accounts lose money here as well if they do not take a moment to check this provider’s fee structure. LexaTrade offers a first-time deposit bonus in select jurisdictions, including Australia, Singapore, and South Africa.
What About The Minimum Deposit?
The desktop version of the trading platform, which traders can download and install on their computers. Retail and professional accounts operate on the same platform. This creates pros and cons, but with advanced research tools next to the ability to execute trades in a user-friendly way, the platform performs well.
Traders can use our free service but should do their own due diligence and make their own decisions when choosing an online trading broker suited to their individual needs. You simply click the “start trading” button on the brokers website and complete a short application. The broker will email your login details and you will be able to access the LexaTrade platform to start trading online.
Zeusoption Forex Broker Review
The LexaTrade trading platform is a simple and intuitive platform, which enables clients to trade on over 2,000+ instruments across multiple markets with competitive spreads and no commission charged. It has a clean look and feel to it whilst it is also very user friendly making it suitable for traders of all skill levels. If you already have a LexaTrade demo account, you can open a real money account by clicking on the Real Money or the Real Money/Demo Mode switch button in the trading platform menu. LexaTradedoes not offer educational sources but a ‘traders guide’ where there are ‘how-to’ videos to learn a bit more about the LexaTrade platform. Make buy and sell trades, learn how to take advantage of global trading times and most importantly learn how to mitigate and manage investing risk.
When it comes to LexaTrade, there are two different types of commissions that you will have to pay, they are trading and non-traidng fees. We will discuss them in detail so that you can understand everything about them better. CySEC is a European regulatory body that lets the brokers that it authorizes to function all forex news today over the region. The regulatory framework of this agency is not as harsh as the ones of the other regulators, like, for example, BaFIN. This adds a significant degree of transparency to its operations and to the company’s solvency and liquidity. This is crucial to protect the money it holds for its investors.
LexaTrade and eToro focus on different types of investment products. LexaTrade caters to CFD trading while eToro focuses more on the social trading network and its copy trading feature. For an unbiased and complete comparison between these two brokerage trading firms, please visit LexaTrade vs eToro Comparison. MetaTrader 4 is great if you wish to use algorithmic trading or automated trading as this platform allows for ‘Expert Advisors’. The levels specified are not guaranteed, as there are events that can make currencies move suddenly and liquidity can be thin. This can lead to ‘slippage’ meaning that the actual trade price executed is outside the amount set which could mean additional losses. The LexaTrade Webtrader platform is a desktop-based platform that is accessed via a web browser.
More details you may verify through the regulators’ official website. While each jurisdiction and regulation will apply slightly different rules towards LexaTrade operation, its main concerns are always diverted towards traders and investment safety all in all.
This website does not provide investment advice, nor is it an offer or solicitation of any kind to buy or sell any investment products. This compensation should not be seen as an endorsement or recommendation by TradingBrokers.com, nor shall it bias our broker reviews. LexaTrade support is available 24/7 via live chat on the brokers website, telephone and email. We found them to be extremely prompt and efficient with responses to a variety of different questions. Most brokers only operate during weekdays, so it is good to see LexaTrade offer support during weekends. You can verify your account by uploading documents for the broker to review. In order to upload your documents, you can go to the main trading screen and click “Menu” then “Account” then “Upload Documents” / “Verify Account”.
However, the broker introduced some improvements as part of WebTrader’s September 2020 update. From the menu screen, you can also easily switch between your demo and real money accounts.
Chicago Board of Trade – a commodity futures exchange based in Chicago and operated by CME. There is also a really insightful news and insight section on the LexaTrade website. Here you will find some interesting articles that can help keep you informed with some of the latest market news and the impact that it can have on various instruments. This gives an instant alert when an instruments price increases or decreases by a set percentage amount over a daily or hourly basis. Logging into the platform is secured with two-step authentication. They also offer Google and Facebook authentication which can prove to be more convenient for some users.
On the other hand, CFDs are the only product offered, the research tools are limited, and the CFD fees are average. 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.
Plus 500 does not charge any fee on deposit and withdrawal with them. But your bank or payment gateway may charge you which you need to confirm it before the transaction.