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LexaTrade
LexaTrade Review: Avoid This Scam Forex Broker

Operating status: SCAM

Website: https://lexatrade.com/

Broker violations and abnormal records
  • 2021-03-31 The Polish regulator KNF added LexaTrade into its blacklist
    The Polish Financial Supervision Authority (KNF) has added Swissone Group Ltd to its alert list. It states that the broker is not registered in Poland, yet is offering its services to citizens of the area: https://www.knf.gov.pl/en/CONSUMERS/Information_for_the_financial_market_consumers/Public_warnings?warningName=lexatrade&warningTypeId=all.
    The Polish Financial Supervision Authority (KNF) has added Swissone Group Ltd to its alert list. It states that the broker is not registered in Poland, yet is offering its services to citizens of the area: https://www.knf.gov.pl/en/CONSUMERS/Information_for_the_financial_market_consumers/Public_warnings?warningName=lexatrade&warningTypeId=all.
  • 2021-08-31 BrokersView has reviewed that LexaTrade is an unregulated forex broker
    LexaTrade claims to be operated by Swissone Group Ltd, a company registered in St. Vincent and the Grenadines. Nevertheless, the SVG FSA does not issue any licenses for forex trading or brokerage nor does it regulate, monitor, supervise or license international companies engaging in such activities. So LexaTrade is currently not regulated or not overseen by any financial regulator. That means investors’ funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is a scam broker.
    LexaTrade claims to be operated by Swissone Group Ltd, a company registered in St. Vincent and the Grenadines. Nevertheless, the SVG FSA does not issue any licenses for forex trading or brokerage nor does it regulate, monitor, supervise or license international companies engaging in such activities. So LexaTrade is currently not regulated or not overseen by any financial regulator. That means investors’ funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is a scam broker.

Related Complaints

Q&A Complaints

Could you please help me find out if this broker offers Islamic Accounts or they actually charge swap fees?

MHD
Pakistan
2022-01-06
ANSWER LexaTrade is not legitimate and should be avoided at all events. LexaTrade claims to be operated by Swissone Group Ltd, a company registered in St. Vincent and the Grenadines. Nevertheless, the SVG FSA does not issue any licenses for forex trading or brokerage nor does it regulate, monitor, supervise or license international companies engaging in such activities. What's worse, the Polish Financial Supervision Authority (PFSA) has added LexaTrade into the unregistered firm alert, warning the public that the firm is not authorised to provide the investment services in the country. You can check full alert or warning here. Our final verdict is that LexaTrade is thoroughly a scam on account of running its business without any relevant license approved by a reputable regulator. Therefore, we would recommend traders to stay away from unregulated brokers and trade with licensed brokers. 
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15 comments

Justin Cope
This people will lure you to come and invest with them after promising you a huge return of interest but will still held your withdrawal at the end.
2023-09-15
2
Reply
Andrew Danawala
Frude fake broker don't investment money here.i depositmoney but still they didn't refund nor transfer tomy wellet account. It's too much boring for depositerror take more than 45 days. But still they all team issleeping here. So irritating brokerlication right now.
2023-09-13
1
Reply
Vijayananthdini Lee
fake broker sometimes they don't even deposit yourmoney for 3-4 months Very bad broker which doesn'tbrokerear your money in trade account pls don't deposityour hard-earned money this broker will make disbrokerearyour money with in minute they also delay withrowalmoney.i request government pls ban this broker it's takeour money to their country.
2023-09-12
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Elena Krulwich
I had similar experience on Lexatrade, This scams keeps growing with no ending in sight, We hope this stops and the authorities get more grip on things, I have been scammed severally
2023-09-08
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George Michael
Don't trust them awful company they declined to respond to my emails when I requested a refund of my deposits. Their lines do not go through. A guy by the name of Kingsley Cole used to call me every day before I made my deposit. When I did, he went quiet. I realized this guy was from Ghana. Another person by the name of Stephan Todd was very rude and disrespectful. He told me he is busy with other things I stop disturbing him. This company made me lose trust in online trading altogether. So demoralizing...!
2023-09-06
Reply
Yong Abbasi
Black platform, easy to deposit but difficult to withdraw, no withdrawals when big profits are made, please stay away
2023-09-05
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George Michael
No matter how you explain it, there are so many slippages that intangibly increase transaction costs.
2023-09-04
Reply
Yamaguchi Roodenburgh
I had a terrible experience with LexaTrade's customer support. They were unresponsive and unhelpful when I encountered an issue with their product.
2023-08-30
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Pavan Siow
Despite claims of a comprehensive education center, I found LexaTrade's resources to be lacking in depth. They need to offer more advanced materials for experienced traders.
2023-08-28
Reply
Henry Assouline
If you have deposited a big amount then they will make big manipulation in Trade execution speed, trade execution price TP and SL Price and closing priceDue to their Trade execution delay, price manipulation I have lost my entire capital of $44000 so please stay away from this broker.
2023-08-25
Reply

1-10 of 15 comments

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FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

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