LAPIS Broker Trade

Lapis Trade: A Comprehensive Review of the Forex Broker

　　The foreign exchange market plays a crucial role in global finance, providing traders with opportunities to exchange currencies and invest in various financial instruments. Among the myriad of forex brokers available, Lapis Trade has emerged as a notable player, particularly for Vietnamese traders. This article aims to answer three core questions: What are the trading conditions offered by Lapis Trade？ How does its trading platform and product range compare to industry standards？ And what are the advantages and disadvantages of trading with Lapis Trade？

Broker Overview and Trading Conditions

　　Lapis Trade, officially known as Lapis Smart Trading, operates as an offshore forex broker registered in the Seychelles. Despite its offshore status, it caters primarily to Vietnamese traders, requiring them to have a local bank account to open a trading account. Below is a summary of the broker's key information:

Analysis of Trading Conditions

　　Lapis Trade's trading conditions appear competitive, particularly in terms of leverage, which reaches up to 1:500 for lower-tier accounts. However, the minimum deposit requirement of $1,000 for the Copper account may deter novice traders. The spreads start from 3.0 pips for Copper accounts, which is relatively high compared to industry standards. In contrast, many brokers offer spreads as low as 1.0 pip for major currency pairs. Thus, while Lapis Trade offers high leverage, its spreads may not be as attractive, particularly for cost-conscious traders.

Trading Platform and Product Analysis

　　Lapis Trade provides its clients access to the global financial markets through the widely-used MetaTrader 4 (MT4) platform. MT4 is known for its user-friendly interface, advanced charting capabilities, and a wide range of technical indicators, making it a preferred choice among traders.

Available Currency Pairs

　　The following table summarizes the currency pairs available for trading on Lapis Trade:

Execution Speed and Slippage

　　Lapis Trade claims to provide relatively fast execution speeds, with average times around 250 milliseconds on the MT4 platform. However, traders should be aware that execution times can vary based on market conditions and liquidity. Reports from users suggest that slippage can occur, particularly during high volatility periods, which is a common occurrence in the forex market.

Advantages, Disadvantages, and Security Assessment

Advantages

• High Leverage: Lapis Trade offers leverage up to 1:500, which can amplify potential returns for experienced traders.
• Established Trading Platform: The use of MT4 provides traders with access to a robust trading environment with numerous tools and features.
• No Commission Fees: Lapis Trade does not charge commissions on trades, making it easier for traders to manage their costs.

　　

Disadvantages

• Lack of Regulation: Lapis Trade operates without regulatory oversight, which poses risks for traders regarding fund safety and dispute resolution.
• High Minimum Deposit: The requirement of a $1,000 minimum deposit may limit accessibility for beginner traders.
• Limited Market Access: Currently, Lapis Trade primarily accepts clients from Vietnam, restricting its global reach.

　　

Security Measures

　　Lapis Trade has not provided substantial information regarding client fund protection or safety measures. The absence of regulatory oversight raises concerns about the security of client funds. Traders should exercise caution and consider the risks involved in trading with an unregulated broker. Customer reviews indicate mixed satisfaction levels, with some users expressing concerns about withdrawal processes.

　　

Practical Strategies and Summary Recommendations

　　

Basic Trading Strategy

　　For traders using Lapis Trade, a simple yet effective strategy is to focus on major currency pairs, utilizing the high leverage offered. A basic strategy could involve:

• Trend Following: Identify a currency pair that is trending upwards or downwards using MT4's technical indicators.
• Entry and Exit Points: Set entry points based on breakouts from key resistance or support levels and use trailing stops to lock in profits.
• Risk Management: Employ strict risk management by limiting exposure to 2% of the trading account per trade.

　　

Final Assessment

　　In summary, Lapis Trade presents a mixed offering for forex traders. While the high leverage and established trading platform are appealing, the lack of regulation and high minimum deposit may deter potential clients. Traders looking for high-risk, high-reward opportunities may find Lapis Trade suitable, particularly if they are experienced and based in Vietnam. However, those seeking a secure, regulated trading environment should consider other options.

　　

FAQ Section

　　1. Is Lapis Trade regulated？

　　No, Lapis Trade operates as an unregulated offshore broker, which poses risks for traders.

　　2. What is the minimum deposit required to start trading？

　　The minimum deposit is $1,000 for the Copper account.

　　3. Can I trade with Lapis Trade if I am not from Vietnam？

　　Currently, Lapis Trade primarily accepts clients from Vietnam, requiring a local bank account to open an account.