Small Business Funding

Also, be aware of some common personal loan scams — falling victim to one could impact your business. Contact your bank immediately if you send money or information to a scammer. It can cancel any pending transactions with the lender and close your account to protect it from being compromised. Scammers might attempt to cheat you out of your money over the phone.

Our information is based on independent research and may differ from what you see from a financial institution or service provider. When comparing offers or services, verify relevant information with the institution or provider’s site. The best way to prevent falling for a scam is to know what to look for before you apply. Keep your safety — and your business’s safety — at the forefront of every loan application to stay one step ahead of any potential scammers. If something doesn’t match up or doesn’t seem right, drop the lender.

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. All early signs show that LexaTrade is not a scam but keep in mind this is a very new CFD broker. This is not the case with LexaTrade and thus far we consider this CFD broker a reliable partner for your trading needs. Finder monitors and updates our site to ensure that what we’re sharing is clear, honest and current.

1. The case with its funding is much of the same, as there are some things that look good.
2. And remember to sign up for the National Do Not Call Registry to prevent unsolicited phone calls from telemarketers.
3. I found in fact that most of the people I interacted with were very serious about a relationship.

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. Live chat support was available at the time of our visit but a bit slow to answer. 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. Also keep in mind that the company is regulated (IFMRRC), which is not the fiercest of financial watchdogs, but any type of regulation is better than no regulation at all. That being said, caution should be used anytime money is involved, with all brokers, old or new.

They work to get your information — either personal identifying information or bank account information — to steal your identity. Sometimes they come off as helpful and empathetic; other times, they are aggressive and threatening. That, along with the multiple phone lines, makes the broker easy to reach. The representatives are adept at problem-solving, so the overall communication flow is great. However, better options are present online, and it’s easy for most traders to switch. Cheapest and most expensive aren’t the most precise terms, as there’s no actual cost attached to the account.

Protect yourself, your business and your assets: Know the warning signs to identify a potential scammer.

Once you pay the fee, the lender either disappears or stalls the process and you get nowhere. But in reality, there’s never a reason to pay a lender or broker before you borrow. Maybe the lender guarantees your approval, hides loan details until after you apply or promises unrealistically good rates and lengthy repayment terms. And scammers can hit you with these tactics — and more — from almost any platform.

So the regulation may impose negligible limits on the broker while generating a false sense of confidence for potential customers. Signed up for a month but this company just keeps taking the money. Very difficult to contact and impossible to cancel subscription.

LexaTrade Review

If you’ve sent funds by wire transfer or paid any “fees” with a gift card, then you’re likely out of luck. Check with your bank or credit card company to see if there are any options available to you. There are lexa funding reviews plenty of legit options — so don’t rely on any lender or company that gives you a bad feeling. Or they’ll use the excuse of upfront administration fees, credit check costs, processing costs or anything else.

Customer Service at Lexatrade

We may also receive payment if you click on certain links posted on our site. Melanie Huddart is a personal finance editor and updates writer who’s proofed and polished thousands of articles to help people make more informed financial decisions. She specializes in issues around accessibility and equality, https://cryptolisting.org/ as well as removing biases in managing finances for people who are unbanked or marginally banked. Melanie is an ASL-English Interpreter with experience in writing and learning assistance in college and high school classrooms, teaching English and Indigenous studies both in-person and online.

An FTC scam alerts feed will alert you of new scams and update you on warning signs to watch out for. And remember to sign up for the National Do Not Call Registry to prevent unsolicited phone calls from telemarketers. It’s usually next to impossible to track down scammers, and in many cases they’re overseas and out of reach of American authorities.

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. They always esure that my products arrive quickly and in excellent condition. Although there are some minor issues, I would still recommend this company quite hiyhly. I’ve had a very positive experoence with Lexa and would definetely reccomend to otehrs. Work with your dedicated account executive to select a custom tailored approval specific to your business needs.

How to find a legit business lender

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. Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn’t influence our assessment of those products.

And without the broker specifying the times, who knows how long it might take for you to get your money. The broker offers its traders two platforms, as we’ve indicated earlier in our Lexatrade review. And even then, you only get the web version, and you need the $50,000 account for the full unlock. 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. Overall this is a promising broker but a few tweaks here and there would make it a better one.