However, not every one of them fits in with their own concept — so it is important to weigh the chances and risks of each form of financing. Below is a brief overview of the most important types of startup financing — omitting the classic loan (from the bank or from friends / family) in this overview. Overall this is a promising broker but a few tweaks here and there would make it a better one.
- Thoroughly investigate any debt relief company to confirm its legitimacy, and consider refinancing your business debt instead.
- This broker attracted me precisely with this – in all reviews about LexaTrade, it is distinguished by the reliability and honesty of the company.
- So it’s about keeping the costs as small as possible, doing as much as you can yourself and earning (small) revenue and ultimately profits as quickly as possible.
- The minimum deposit at LexaTrade is $250m whereas its competitors offer account opening at $0.
However, we can’t neglect the fact that $100,000 is a hefty sum and isn’t something anyone can reach. Unfortunately, when a broker looks like it’s a rushed project, it’s often a scam. That isn’t an exact rule, but it’s something we’ve found to be true more often than not. For us, the elephant in the room when visiting lexatrade.com is how clunky the language is there. It seems like the website wasn’t designed in English, but rather translated from another language.
However, it’s apparent that it’s much less limiting than even the more lenient country-based regulators. There are way too many categories on lexatrade.com, https://cryptolisting.org/ and navigating around the website is challenging. The dropdown menus have vague names, and as such, the categories inside them seem almost arbitrary.
Some of the most successful consumer products in the last few decades (e.g. mobile phone, personal computer, smart speakers) have been innovations at the intersection of hardware and services. 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. Unfortunately LexaTrade doesn’t offer a lot of information about withdrawals but according to the website, a representative will contact you to complete the processing, which takes up to 24 working hours. The methods for deposit are Visa, CryptoWallet and e-Payouts and we assume the same methods will be used for withdrawals, although LexaTrade doesn’t mention this specifically. All early signs show that LexaTrade is not a scam but keep in mind this is a very new CFD broker.
Fund and Account Security
There are also other newbie-baiting features, such as the bonus that Lexatrade offers. A deposit match isn’t inherently a bad thing, lexa funding reviews but it’s commonly used by malicious brokerages. That’s especially true if the bonus goes as high as it does at lexatrade.com.
Very difficult to contact and impossible to cancel subscription. I have used Lexa for several occasions and am overall quite satisfied with the experiece. Most of the times the service was more than snowehat I expected. They have a wide range of products and their customer support is helpful and resposive. Prices are never too high and there are always gdod deals avaible.
I have used Lexa for several occasions…
If you’ve experienced any of these scenarios, it’s usually a sign your “lender” wants to take your money rather than support your business. Lexatrade has potential, but it also has a lot of things bogging it down and making numerous questionable decisions. The asset access is limited, your withdrawal requests are low priority, and the spreads are extremely high.
LexaTrade Review: Pros And Cons
As such, we don’t think you can get a competitive trading service up until the $10,000 account at least. As we are wrapping this in-depth LexaTrade review, the only thing I would say is to avoid this platform. The broker is unregulated and has a lot of disadvantages which overshadows its genuine features, such as high spread charges. The genuine features of the platform that are worth considering include bonuses, advanced trading platforms and learning programs. LexaTrade customer support is very impressive as it offers full-time support with 24/7 operating hours. The broker can be reached through multiple channels, including phone line and email.
LexaTrade Review: Customer Support
In 2019, LexaTrade reached more than 2 million merchants worldwide. Work with your dedicated account executive to select a custom tailored approval specific to your business needs. We offer a wide variety of products to suit any opportunity or challenge that may arise as you grow your business.
As you progress through the accounts, the bonus we mentioned earlier in our Lexatrade review grows. Similar bonuses often have thick strings attached, so be sure to read the terms if you intend to invest. Lexatrade has five different account types covering budget and high-end options. The broker uses a tiered account progression where each type requires you to reach a specific threshold.
It can cancel any pending transactions with the lender and close your account to protect it from being compromised. Report abuse, fraud and mismanagement or waste of federal funds. Protect yourself and other business owners from scammers acting under SBA programs, operations or as SBA employees. Many entrepreneurs rely on loans to get their businesses started and grow, and lenders are helping support these businesses by streamlining the lending process for faster turnaround and less paperwork.
The same goes for visuals, as the various elements are glaringly mismatched. It looks like the broker took stock images, put them in boxes, and called it a day. Of course, broker appearance is nearly entirely irrelevant, but our point is that Lexatrade looks like something hastily put together. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. The LexaTrade referral program works when you invite your friend to sign up. For each successful deposit your referral makes, you’ll receive up to 50% of the entire amount.