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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