Lexatrade review – avoid this broker [explanation]

In this review we explain why you should not trade financial markets with the broker Lexatrade.

What is LexaTrade

Lexatrade is a broker that allows its clients to trade financial markets such as Forex, stocks and commodities.

The minimum deposit to open a real trading account is 250 USD. You can get a deposit bonus up to 120%, meaning that the broker will more than double your deposit (with the highest account type).

Is Lexatrade a legit broker that you should trade with?

Stay away from Lexatrade

There is one main reason for not trading with Lexatrade and we explain it in detail in this review.

Not regulated

Lexatrade is a broker that claims to be based in Saint Vincent and the Grenadines, which is an exotic location where proper financial regulation is non-existent.

The broker also says that it is regulated by IFMRRC, which stands for International Financial Market Relations Regulation Center.

The problem is that IFMRRC is not a proper regulator. A financial regulator is an independent authority that is run by a government of a country or is at least heavily controlled by a government. Meanwhile IFMRRC is a private organization with no government control.

As such there are no guarantees with IFMRRC whatsoever, no matter what they say on their website.

Also, an IFMRRC license does not mean anything for the broker’s right to provide its services in any country. For example, LexaTrade’s license from the IFMRRC is not recognized in the EU, UK or US, which means that this broker legally can’t offer its services in these regions.

To sum it up, Lexatrade is not regulated in the proper sense of the term, you have no guarantees about anything with this broker.

IFMRRC regulation

Breaking the law?

As we have established in this review, LexaTrade has no license to act as broker in any country. Yet it is clearly is offering its services in a lot of countries where it legally can’t.

For example, the main support number leads to the United Kingdom, which suggest that the broker is offering its services to UK residents, although it is not allowed to do so by the Financial Conduct Authority.

Company contact

Another problem is the deposit bonuses that the broker is offering. Deposit bonuses are illegal in major jurisdictions like the EU because they push people to trade irresponsibly.

What looks suspicious is the passive income that the broker is offering for higher accounts. If LexaTrade is supposed to trade on your behalf and make you money, it is something we have never seen with a legit broker.

If someone knows how to trade profitably, they either trade for themselves or run an investment company. Not an off-shore and unregulated Forex broker.


LexaTrade review – Conclusion

LexaTrade is a broker that is not regulated by any national financial regulator, so in most countries it can’t offer its services. We recommend staying away from it.

For trading you should always choose a regulated broker that has a valid license in your country. Start on a free demo to learn trading with virtual money.

Before investing any real money, you must make sure that you fully understand the risks.


BrokerRegulatedFree demoLink

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Comments 22

  • They are fraudsters. Never invest in the trade. If you value your money, stay away from them. However if you don’t have anything to do with your money and wants to get ride of it, then Lexatrade is your companion.

  • Ihave invested 20000 USD on 23rd March. after taking money they have not responded to my skype calls,emails .It ia a big scam loting momey from investor . Kinldy help me

    • Are you for real, they call me to invest 250 USD, and they say so many sweet talk about the trade. Am I save in it, should I trade with them?

    • I’m sacred of trading with them because I don’t know if its wise to trade with them. They said I should pay 250USD and I will start trading . a robot will help me trade and I should open Skype . so please should j fade with them 3.

    • My Friend you have a lot of courage to invest such a huge amount with someone you barley know . Vert crazy sorry.

  • They call me also after filing my details on their site, that I should invest $250 with them but I was sceptical and had to make some research about them only for me to come across this review. Thanks a lot for the info

  • They are scammers and good in making calls to get you as investor. They will promise you the sweetest ROI but at the end, they will stop responding to your withdrawal requests. Run! Run!! Runaway from them!!!

  • Big scam, lost U$250 within 30 minutes !!! Phone calls just stop after deposit was made

  • They are fraudsters. Never invest in the trade. If you value your money, I was scammed by lexatrade we all need to share our experience and try different methods to stay ahead of this crooks

  • I’m so glad I came across this!!
    These people have been calling me nonstop since yesterday, I was even considering investing the $250.
    I just decided to research it. Thank God I did.

  • It’s nothing new to me coz I got to their website by chance and immediately I saw the outlook of their website I knew they are out to scam people. Thanks for letting people know who they truly are

  • They call me today and said I can be making $50 daily guaranteed after investing $250.
    That was what off me.
    I decided to research them and thank God I found this.

  • They just scammed me by telling me send a certain amount of 250USD which I did and they as well requested some of my documents. What I’m scared of is some of my details that’s I’ve released to them. I’m not sure if I’m safe an any longer but I’ve contacted my bank.

  • I just invested $250 with Lexatrade recently but after my investment I have lost confidence in them because they keep demanding for more money to invest instead trading for me as promised. How do I recover my money?

  • I was planning on investing with them as well after so many calls, thanks be to God that l got this details online, am so happy with this.

    Funny enough, I don’t even have the money to invest with them now, am just playing pranks with them but my spirit kept telling me that I should not invest a Kobo with them before I found this research online.
    Thanks to you guys for the insight. Cheers.

  • Thanks for the review, its timely. I was on the route to deposit my life savings in accord with the instructions I received from someone who positioned as my account manager, but reasoned to look at their terms before doing so. When I did looked at it, it was unnecessarily lengthy with conditions that does not guarantee clients’ money protection. Anyone can be scammed on their platform as projected by them. With that, I delve into researching about them and found your review. You did a good work to educate the public. Thanks a lot.

  • Many thanks 4 this review… I jes had to sit up this late n look d name of d supposed brokerage firm up online, n here is what I’ve found… Such a revelation! Would av been fleeced… Jes had to chill a little after I’d been pestered with CTA calls every day since last week… My self-styled acct manager calling tirelessly with a UK line buh a Nigerian accent! Would av been disastrous if I’d lost some 105k to these crooks.

  • An so grateful to come across this review, otherwise I would have fallen prey to them. I was almost going to put in 250 USD. Thank God I did not.

  • Lexatrade is a highly organized scam company. So notorious in defrauding people of their hard earned money. Do not on any reason attempt doing any business with them, they are team of scammers and fraudsters. They scammed me $250 which they lured me to deposit with them, with the promise that they would allocate a robot trading machine to trade for me. After lodging the money they now keep on changing my account manager, until I end up having 4 different account managers, the last one was Oxana Miller, who changed my password and told me to go ahead and start trading manually in violation of there earlier promised of Robot trading, after that the platform became unassesible. I try calling them, but there line is always not reachable, but they always get you if they need you.
    Please don’t initiate any call or start any conversation with them, if you do you are putting your money in very high risk of being duped by Lexatrade. They highly professional scammers with no regard and regrets, the are only good in defrauding people of even lower income. They will continue to encourage you to continue depositing your money with them in order to continue scamming you.
    Stay away from them!
    Stay away from them!!
    Stay away from them!!!
    For your safety.

  • Lexatrade is built on scam funds, please don’t tell people to invest if you’re not going to allow them have their money, lure me into depositing 8150 pounds and never approve withdrawal request, benarmstrong-trades where I earn doesn’t make me go through such difficulties. I already file complain with the Police to get my money from Lexatrade

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