Forex Trading

Is LimeFx legit: LimeFx Review

Is LimeFx legit
Is LimeFx legit

LimeFx offers a $25 Welcome bonus, a deposit bonus limited to $300, and a refer-a-friend program. I recommend traders read and understand the terms and conditions before accepting incentives. Automated trading solutions often require a VPS service to operate effectively around the clock. LimeFx offers two VPS solutions, charged at $30 or a currency equivalent per month. Traders who exceed $500K notional trading volume for three consecutive months will get the fee reimbursed.

Is LimeFx legit

There areclear portfolio and fee reports on the ‘Reports’ tab of the platform and at MyLimeFx. LimeFx accepts customers from most countries around the world.There a few exceptions, like residents from the USA, Japan, Brazil, Turkey, Hong Kong, Iran, Cuba, Russia, New Zealand, Syria and South Korea. If this is not your first deposit the minimum is also $50 and there is no minimum if you deposit via wire transfer.

Look and feel

It aids investors to effectively and easily communicating useful information about the market trends. For those who have been to high school, charts should not be a new thing for them now that they are on the LimeFx trading platform. One of the reasons that traders are attracted to the forex and CFD markets is the high degree of available leverage. Leverage is the use of borrowed funds to increase the size of your trading positions beyond what would be possible using only the cash in your account. The maximum leverage available depends on where you are based.

This is not even what I would call dubious practices, this is theft and fraud against their customers, the people who provide them with business every day. I have ran an account alongside LimeFx before with exactly the same trades and margin available and been stopped out and margin called out of trades by LimeFx where LimeFx did not. They only issue I have had with LimeFx is that sometimes you cannot get in on the positon at your desired price but the don’t steal your money and use smoke and cloud excuses to cover the theft up.

Capitalise AI

This is when things went downhill for me and lost all my money in the live account from placing trades that I kept loosing every time after being hacked. They have a plethora of resources to help their clients succeed in the forex market, and offer their clients a large number of different trading tools. Anyway, a demo account is a great way of getting a feel for a broker before making the financial commitment. With this comes greater benefits through trading fees, spreads, and institutional derived trade ideas through their premium eFXplus research site.

LimeFx Review 2023: Is This Broker Platform Safe for Trading? – CryptoNewsZ

LimeFx Review 2023: Is This Broker Platform Safe for Trading?.

Posted: Wed, 01 Feb 2023 08:00:00 GMT [source]

Therefore, before choosing a broker, there is a need to gather the right knowledge and information. It would be a good idea to research and look up as many online brokerage platforms as possible and then make a decision. A license to operate in the united kingdom by UK’s financial conduct authority . Offers a vast range of trading instruments from indices, CFDs, commodities, currencies, and metals. When I started I was lost about 450 USD and I keep learning about trading in forex, then 3 months I got 320 USD and I`m very happy with my tradings, spreads are very good and withdrawal also great. The last section is about the traits of successful traders.

This may impact how, where and which products / companies / services we review and write about. This page may not include all available products, all companies or all services. LimeFx offers seven different payment methods which are also accepted as valid withdrawal methods. The full list of withdrawal options include Credit/Debit cards, wire transfer, e-wallets, BPay, Skrill, Union Pay, Neteller, and POLi. More, the top bar shows which trading server traders are connected to, as well as a customizable layout setting.

Unable to trade or close the transaction

A full sized contract is 100,000 units of the base currency . In our research, LimeFx showed a good level of transparency in areas such as their regulatory status, fees and background information. The regulatory status of different entities is covered lime fx in detail on their Regulation page. A rate card on their Charges and Fees page clearly outlines all costs. A Terms of Service document is also available online, via the General Business Terms page, although it was a little hard to find.

  • I missed a deadline for keeping my account open, in December last year.
  • Take note that LimeFx customers are expected to set up tight access to the platform when an account is registered.
  • Educating yourself on how to trade the financial markets can make the difference between success and failure.
  • The tests were done at 8AM GMT and at 3PM GMT on November 12th 2021.
  • Inactivity fees, withdrawal fees, and deposit fees are some of the non-trading fees.

You will need to fund your account with at least £300 if you are trading with LimeFx LTD, whilst you will only need $50 to trade with other entities. During our LimeFx review, our team contacted LimeFx’s support a couple of times and their responses were very friendly and helpful. Plus, there are different phone lines for over 40 areas, which is super-convenient for international traders. If you have any questions about the way things work at LimeFx, or you encounter a problem, you can always contact customer support 24 hours a day, 5 days a week. You can do this from both desktop and mobile devices via email, phone, or live chat. On top of that, there are other educational materials such as tutorial articles, interactive videos, glossaries, and an extensive FAQ section.

Inactivity fees, withdrawal fees, and deposit fees are some of the non-trading fees. Typically, one has to pay $50 as the inactivity fees if the account remained inactive for a year or more. During our research for this review, the LimeFx web version claimed to be offering over 52 trading indicators and 26 trading tools. Nevertheless, the web version does not have all the features found in the desktop version. Thus, as per our Trading Station review findings, the desktop version is ideal for advanced traders, while Trading Station web 2.0 is easy to use for beginners or new traders. Nevertheless, where web-based trading systems are concerned, the Trading Station web version is the best in the industry and very helpful for traders.

A Leading Provider of FX & CFD Trading

All this makes them a competitive offer with low negotiation costs and wide accessibility to the market. The fees on LimeFx are moderate because you do not pay commission for trades, inactive account fees start after 1 year, and you can have lower spreads if you trade large volumes and become an active trader. You can also get a professional account if you want more leverage or an interest-free account for Muslim traders. LimeFx offers only one account type for retail traders which is further divided into standard status or active trader status.

Is LimeFx broker legit?

LimeFx is regulated in three tier-1 jurisdictions, making it a safe broker (low-risk) for trading forex and CFDs. In our testing, LimeFx earned Best in Class (top 7) for its Platforms and Tools, Professional Trading, Algorithmic Trading and Social Copy Trading.

This fact is further corroborated by the various LimeFx Forex broker review articles. Though there is no doubt that LimeFx has had a troubled past, LimeFx has been able to become the second-largest Forex brokerage firm for retail customers outside Japan. The minimum deposit at LimeFx UK is £50 for all payment methods and account types.

You can also access some helpful information through the LimeFx website directly that can often help to answer any questions you may have. At the core of this trusted broker is the regulation they have in place. This comes from multiple top-tier bodies including the FCA in the UK, ASIC in Australia, and the FSCA in South Africa as well as the IIROC in Canada. This level of compliance around the world shows the LimeFx commitment to trader security and providing the safest possible venue for you to trade. Trading in any type of financial product including forex, CFDs, stocks, and cryptocurrencies.

Of course, you will have resources within their proprietary trading platform to access news and insight but you can also avail of a detailed educational section. LimeFx really starts to excel when it comes to the variety of trading platforms they offer. Commissions scammed by limefx and fees are generally excellent for low-cost trading at LimeFx. You will find that they generally don’t charge commission on trading with any of their account types of assets and so, you just have to consider the spread and any non-trading fees.

Is LimeFx legit

If you choose to trade forex through their platform, you will incur fees and commissions. Slippage, or the unexpected difference in an exchange rate specified in a stop order or market order, can be either negative or positive. When the trader loses money, slippage is negative, whereas when positive, the trader receives a fill at a better rate than the prevailing market.

This is a good sign if customers are willing to take time out of their day to write feedback about a company. You can download LimeFx’s proprietary trading platform to your desktop, however, it is not available for Apple Mac desktops. LimeFx’s Trading ViewAdditionally, you can use the MT4 Web Access and the TradingView web access platforms.

To read much more details about the broker’s services and features, expand on the sections below. Tier 2 Active Trader account is reserved for users who trade in volumes exceeding $150 million per month. Here, the commission rate is $25 per million and there are also other smaller discounts for Active Trader account users. Trading Station mobile provides users with a bundle of drawing tools, indicators, and is great for charting in general. The company is regulated by the aforementioned tier-1 regulators and is considered a low-risk broker. Things are looking good for the future reputation of LimeFx, but it will be a while before it is completely healed.

Is LimeFx legal?

LimeFx South Africa (PTY) LTD is an authorized Financial Services Provider and is regulated by the Financial Sector Conduct Authority under registration number 46534.

LimeFx will tell you that if you read their clauses and conditons it says that during periods of volatility the spread will increase. I have seen the spread on Gold go to 10 dollars before on a weekend close. They will also claim that it is happening by the Interbank Market Rate, but lets face it, when your positions are closed, the spread goes to them, nobody else.

Forex trading, transactions with unauthorised dealers, websites can lead to trouble: How to check authoris – The Economic Times

Forex trading, transactions with unauthorised dealers, websites can lead to trouble: How to check authoris.

Posted: Tue, 11 Oct 2022 07:00:00 GMT [source]

They say that with small accounts they will work against you, they offer different prices to different people, they take the other side of ALL trades. And finally they admit that their interests are in direct conflict to the clients. They say that if you make any money they will move your account to a NDD account.

What happen to LimeFx?

All 40,000 of LimeFx's U.S. accounts were sold to Gain Capital. Global Brokerage, Inc. remained listed on NASDAQ under the ticker symbol, ‘GLBR.’ In May 2017, Global Brokerage was notified by NASDAQ that the market value of its stocks were not sufficient for continued listing.

Only the clients of Forex Capital Markets Limited and LimeFx EU LTD are covered by investor protection. Live webinars, pre-recorded videos and pdf booklets are available for free. These cover topics ranging from trading basics to platform tips and tricks. LimeFx provides free phone support for the residents of 42 countries. This shows whether you should buy or sell, based on technical indicators like RSI or MACD. The LimeFx desktop platform has clear portfolio and fee reports.

Deixe um comentário

O seu endereço de e-mail não será publicado. Campos obrigatórios são marcados com *