After almost a year of working with them, I can say one thing – it’s SCAM and it’s the simplest of its kind. Someone on the webside said that he has withdrawn money – Yes, they are paying out, but only pennies and just to call back for more. I worked with them for a year and even with success. Of course, the market was surprising and the account had to be saved with further deposits. I paid and earned – but when I wanted to withdraw funds – I heard that I have to wait a bit, because they have to prepare it.

Please stay away from these scammers which keep growing with no ending in sight. Lexa Trade is the worst broker I have ever invested with. It uses a license from a regulated company or gives a invalid license number. LexaTrade platform gives its clients the capability of fixing profits and limiting potential losses in a timely manner.

Users advise LexaTrade to review their minimum deposits against the offers found in each of their trading accounts. Now, given the figures disclosed through the parentheses, it is easy to be turned off by the brokerage. The 250-Dollar minimum deposit to activate Start account may be considered already costly given the limited features made available to its users. Table below details all the features and offers that each account provides its users. Even for the higher accounts, the spreads are wider than those from other brokerages that require similar price points. As we said earlier in our Lexatrade review, it offers a competitive trading experience, but it gets overshadowed by better companies.

You may check the reviews for our site or check the reviews from real users in different forums or social media. Usually, brokers earn a commission from trading activity. Therefore, brokers tend to work on unnecessary buy or sell or influence traders to trade to earn commission from trading. Ponzi schemes are usually a type of fake investment management firm. Unlike the pyramid scheme, people don’t pay any fees. Instead, the investors will put their money into a scheme.

Profit: € 9,643.55

Given these three major points, LexaTrade may be seen in a more positive light. Hence, the allegations of scam and the libel hurled against it through various online resources are effectively dispelled. LexaTrade uses the license of another regulated company. Now we are going to deal with reviews gathered across the worldwide web. Getting the pulse of a brokerages legitimacy is served well by the immediate disclosure of its primary details. LexaTrade broker might just be another victim of either ignorance or outright fabrication.

I expose this broker as much as I can so I can help other victims or intending victims out there. To act as real, some advanced broker from the list of forex scams may come across to you and explain about low risk or even no risk about trading. However, most of the time, the pitcher will tell you about the low risk instead of no risk. And, it is possible that you will trust them as they give you time explaining about no risk at all. It is a simple technique played by the brokers to gain your trust. Through the profits from previous forex scams, they take posh offices and decorate professionally and introduce themselves as a reputable investment firm.

And if they turn out to be forex scams, you will not get your money back. Moreover, you cannot even file a complaint about a certain list of forex scams as they are not local and are not regulated. The pyramid scheme is also called multi-level marketing .

Broker by Country

There are plenty of forex trading scams criminals out there who wait for novice traders so that they can defraud them. In a market where over $6 trillion moves daily, there are bound to be people who want to take advantage of honest traders. The automated trading mode ensures that both novice and experienced traders are winners when using the Bitcoin Era app. As a trader, you get to set your trading criteria and the software will then trade based on your preferred settings. In this way, risks are minimized, and in-depth knowledge of the financial markets and trading terrain are not needed. XCritical is an innovative trading platform wholly capable of technical analysis without referencing any specific broker.

We are not liable for losses that resulting from the information provided on our site. I was able to withdraw some of it but when my money grew to $1000 they won’t allow me to withdraw my money. They ask to pay for an overdraft that was withdrawn from my account. They blocked my account and now they are slowly deducting money from it. They say that the only way is to deposit $3000 into my account, which is hilarious, so I can withdraw my money.

Profit: €10,673.62

Nevertheless, this kind of scheme is totally illegal. So, if anyone or any brokers tries to attract you through it, you should avoid it. To identify such schemes, you can check out the fake forex brokers list. The Bitcoin Era app delivers precise trading how genuine is lexatrade signals, thanks to its advanced algorithm. The algorithm allows it to accurately analyze the leading live data trading indicators and use them to your advantage. In this way, fundamental and technical analysis are made easy and profitable for traders.

• As of November 2019, more than 2,000,000 merchants from all over the world are using the services of a broker.
• Furthermore, with your education, if you can identify a scam, don’t forget to report forex scams to the proper authority.
• The platform supports all major payment methods for deposits and withdrawals, including bank wire, credit /debit cards, Skrill, Neteller and OrangePay.
• However, most of the time, the pitcher will tell you about the low risk instead of no risk.
• Nevertheless, this kind of scheme is totally illegal.

Trading is a gamble, and investing in markets through a brokerage firm is no joke. And the presence of negative reviews does espouse plenty of misgivings, and worse, paranoia. Yes, trading with Lexatrade is a fraud/scam cheating making fool of small investors/traders by misguided by the staff insisting for more money deposit for stock trading.

This is taking into account my caution, I don’t buy everything in a row, I carefully monitor the news. Lexatrade customer service is bad, the account managers are irresponsible please becareful to use them, they are so frustrating. You can share your opinion about the work of this broker, as well as read the reviews of BDSwiss and see our rating of Forex brokers. BDSwiss is an international brokerage company founded in 2012 in Zurich, which quickly entered the market and became one of the largest trading groups. Currently, BDSwiss has a customer base of over one million customers from 180 countries. In addition to its headquarters in Switzerland, BDSwiss has offices in the United States, Germany, Mauritius, Cyprus and the Seychelles.

Possible Persuasion Tactics You May Experience

Trading platform works stably, occurs smoothly and quickly. MetaQuotes‘ most in-demand trading platform, MetaTrader 4 is simply one of the best trading software available in the market. MT4’s interface is intuitive and has a benevolent number of tools. It permits them to https://cryptolisting.org/ trade safely with its technology without any need to download and install it on the traders PC or mobile device. I have just started, so far I am good with the trading tools. Haven’t had withdrawal yet but based on observation, brokers are skilled and easy to deal with.

LexaTrade Negative Reviews

That was the first time BTC was used to pay for actual goods in the real world. Olymp Trade is a category A member of the Financial Commission , which confirms the company’s reliability and the high quality of services. Do not deposit more funds than you can afford to lose.

Information about withdrawals is missing and this should be addressed by LexaTrade. Of course, we cannot vouch for the accuracy of the signals but it’s a nice addition. 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.