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Competition policy, including digital competition, is reserved for the whole of the United Kingdom. The Prime Minister has made his intention to secure growth and innovation within every corner of our economy very clear – the new Digital Markets Unit will help fulfil this important priority for the UK in the digital economy. This will help deliver one of the Government’s five priorities to grow the economy by increasing consumer choice and confidence in the products they buy and services they use. Avoid abusive language and personal attacks, directed either at the broker or the author. Sir / madam in this regard I searched the company address of India. And stay alert, scammers like lexa trade are present here too, misguiding the public.
The new regime will drive innovation across the entire economy, maintain and further the UK as an attractive tech destination for international investment, and make the digital economy a fairer place for businesses and customers. For example, the biggest tech firms may be instructed by the DMU to provide more choice and transparency to their customers. If firms don’t abide by these rules, the DMU will have the power to fine them up to 10% of their global turnover. I registered with them by depositing $250USD and play couple of trade and earned $236usd. They tell me rubbish rules which they did not inform at the time of joining.
www.lexatrade.com – Refusing to provide withdrawal of funds promised
Even the personal manager engaged for help do not bother for small traders. As part of the Bill, a Digital Markets Unit within the CMA will be given new powers to tackle the excessive dominance that a small number of tech companies have held over consumers and businesses in the UK. This market dominance has stifled innovation and growth across the economy, holding back start-ups and smaller firms from accessing markets and consumers.
Information about withdrawals is missing and this should be addressed by LexaTrade. All we could find is that withdrawal processing takes up to 24 business hours and that a representative will contact the client in order to complete the processing of the withdrawal. 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. Many regulated brokers allow $50 and even $10 as minimum deposits, so maybe you should pick one of those. On the other hand, if you are confident in your abilities and $250 is not a lot for you, then LexaTrade may be a good choice. Firms may be given instruction by the DMU to open up their data to rival search engines, or to increase the transparency of how their app store or marketplace review systems work.
That being said, they are very new at the time of this review, so there is time for improvement. The overall structure of the accounts at LexaTrade is too expensive in my opinion and putting a $10,000 barrier between the trader and MT4 means that the majority of clients will not use this platform. On the other hand, the Web platform offered for the minimum account is quite enough for the average trader, so maybe that’s not a deal breaker. All early signs show that LexaTrade is not a scam but keep in mind this is a very new CFD broker. The general online opinion is favourable and this is always a good thing because as soon as something goes terribly wrong with a broker, people flock to online forums, chat rooms, and social media to bash the said broker.
In just 4 days and with very little work, I was able to reclaim my cash. I’ll give Jeff my utmost respect because he’s sincere and honest on all counts, and he helped me recover what I lost. This broker offers a balanced mix of functionality and user-friendliness.
The only extra worth mentioning is the Autochartist which is available right on the trading platform and is free of charge. It offers signals and pattern recognition and is generally regarded as a reliable tool but of course there are no guarantees that it will be profitable. There is no fee to open an account and the fees for deposits and withdrawals are not specified anywhere on the website. There is no mention of an inactivity fee but we cannot guarantee that you won’t be charged one.
Lexatrade – Recover my lost funds
For more than 15 years we have helped nearly customers resolve their issues and will never stop striving to ensure further improvements on our platform for a better communication between companies and customers. Therefore, for some people it will always be like a scam. There is even nothing to be surprised at in such comments.
But at the same time, for people with a head on their shoulders, Lexatrade is quite a working tool. I have been working with Lexatrade since the summer and have withdrawn money 3 times during this time. I did not notice any problems with this broker, with the exception of sales managers.
This is not the case with LexaTrade and thus far we consider this CFD broker a reliable partner for your trading needs. On the other hand, the majority of traders don’t need Expert Advisors, scripts and the stuffy interface of Meta Trader. Besides, LexaTrade’s Web platform offers all the tools that can turn a skilled trader into a profitable trader. The CMA will be able to directly enforce consumer law rather than go through lengthy court processes. The reforms will also heighten the consequences for wrongdoers as the CMA and the courts will have the power to impose penalties of up to 10% of global turnover for breaching consumer law. ComplaintsBoard.com is a leading complaint resolution website on the Internet.
Lexatrade customer service is bad, the account managers are irresponsible please becareful to use them, they are so frustrating. Since they persuade to open account, after I do know of them attend to my email again. Consumer protection policy is devolved to Northern Ireland but reserved for Scotland and Wales.
It doesn’t throw complicated terms at you, and you don’t have to be a trading wizard to use their platform, but on the other hand, if you are a technical trader, their platform offers enough features to keep you satisfied. And besides, if you really want to do advanced technical analysis, LexaTrade offers Meta Trader 4 so you can have the best of both worlds. In competitive markets, firms strive to give consumers the best products, most choice, and lowest possible prices. The Bill will provide the CMA with stronger tools to investigate competition problems and take faster, more effective action, including where companies collude to bump-up prices at the expense of UK consumers.
Editor’s Note: Why LexaTrade Doesn’t Suck in 50 Words
From abuse of power by tech giants, to fake reviews, scams and rip-offs like being caught in a subscription trap – consumers deserve better. The new laws we’re delivering today will empower the CMA to directly enforce consumer law, strengthen competition in digital markets and ensure that people across the country keep hold of their hard-earned cash. Today’s announcement follows the Government’s responses to the ‘reforming competition and consumer policy’ and ‘a new pro-competition regime for digital markets’ consultations published last year. Whether it’s fake reviews by dishonest businesses or people getting trapped in unwanted and costly subscriptions, our consumer protections are overdue an upgrade. Has long campaigned for stronger powers for the Competition and Markets Authority, including tough enforcement and the ability to fine firms that break the law directly. If a firm is deemed to have strategic market status in key digital services, the DMU will be able to step in to set tailored rules on how they behave and operate.
- Had a poor experience investing my money; it wasn’t simple for me because I was scammed numerous times.
- On the other hand, the majority of traders don’t need Expert Advisors, scripts and the stuffy interface of Meta Trader.
- There is no fee to open an account and the fees for deposits and withdrawals are not specified anywhere on the website.
- All we could find is that withdrawal processing takes up to 24 business hours and that a representative will contact the client in order to complete the processing of the withdrawal.
A bunch of cheaters who have looten thousand of ppl till now n this may be ascertained from the reviews. They make false promises and convince you to invest money with a minimum amount of $250 once u visit the site. They will do registration before even u cud understand them. N then…u r trapped… B sure ..ur money is gone within days… I lost my 250 dollars within night. At the start they will tell u that they give 100% Insurance over the capital amount bt it’s big lie… They won’t give u even a penny. N even u earn or make money from this platform, they will not let u withdraw money till u lose all ur money… There r lots of if n buts wen u wish to withdraw.
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. Today my balance was USD821 lexatrade and free Balance was more than USD550. On request for withdrawal of USD 400, I was advised to open a del in sell segment of Natural Gas with USD196 than my entire balance gone negative.
Should I Open An Account With LexaTrade?
That being said, caution should be used anytime money is involved, with all brokers, old or new. Ensure consumers can exit a contract in a straightforward, cost-effective and timely way. Offering or advertising to submit, commission or facilitate fake reviews.
The website is translated in 6 languages, the platform is relatively easy to use and offers all the features needed by an average trader. A mobile platform is available but Demo accounts are not; US traders are not accepted. Autochartist signals are available at the bottom of the trading platform and while this is not a game changer, it’s still something worth mentioning, especially because some brokers charge you for Autochartist. Of course, we cannot vouch for the accuracy of the signals but it’s a nice addition. Overall this is a promising broker but a few tweaks here and there would make it a better one. Lower deposits, more information about deposits and withdrawals, a basic FAQ, and a demo account are just a few adjustments that would go a long way and would make LexaTrade a higher-tier broker.
If firms don’t abide by the rules set for them, the DMU will have the power to fine them up to 10% of their global turnover and make senior managers personally responsible for ensuring their company complies with the DMU’s requests. Fake reviews do irreparable damage to businesses, offer consumers a misleading view of a business and devalue the efforts of honest customers leaving genuine feedback. This Bill will help to deliver fairness for both hospitality venues and their customers in this area, and we look forward to working with Government to achieve this. Firms may be told to give customers greater flexibility when purchasing products online and to break down restrictive technical barriers that block users from using products on different devices and systems.
New legislation will today be introduced to ensure businesses and consumers are protected from rip-offs and can reap the full benefits of the digital economy with confidence. I have uploaded some moeny and post that they have locked my amount and i am nither withdraw nor able to trade. They are asking more money to upload to enable my account and not https://forexbroker-listing.com/ returning the amount that i have already uploaded. In a few weeks, we managed to increase the deposit by 15-17%. This is taking into account my caution, I don’t buy everything in a row, I carefully monitor the news. The minimum deposit is $250 and the available methods are Visa, CryptoWallet and e-Payouts; the processing time is not specified.
Lexatrade.com – I got help
Live chat support was available at the time of our visit but a bit slow to answer. A higher account tier will get you increased withdrawal speed, lower spreads, access to trading techniques and a trading academy, passive income (although they don’t explain at all how you will get this passive income), and more. The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client. LexaTrade is a newly launched, regulated broker that offers CFD trading on currencies, cryptocurrencies, indices, and commodities. The owning/operating company is Swissone Group Ltd, located in St. Vincent and the Grenadines and registered with the IFMRRC – Certificate TSRF RU 0395 AA V0165. Also keep in mind that the company is regulated , which is not the fiercest of financial watchdogs, but any type of regulation is better than no regulation at all.