Is LimeFX a Scam? Detailed LimeFX Review Updated 2023

LimeFX review

The information and videos are not investment recommendations and serve to clarify the market mechanisms. The texts on this page are not are not investment recommendations. In addition to the classic demo account, you can learn to trade forex with risk-free virtual money.

LimeFX review

The datapoints provided are used to calculate a rating based on what we beileve has the most benefit to our users. Our proprietary rating algorithm takes all of the datapoints to generate the rating. This keeps things fair and removes human bias to ensure that our users can compare brokers easily and find the best ones for their needs. It will require you to fill in details pertaining to the credibility and security of your account. You will probably also have top go through the standard KYC (Know Your Customer) checks but LimeFX are normally pretty quick with this.

In addition to the classic credit card and bank transfer, fast payments are also possible via the digital payment system Neteller and Skrill. These offer the advantage that the deposited amount is immediately available on the trading account. Every online broker thrives to give their traders the best of their services, some of which go the extra mile in providing additional educational tools and materials for its traders. LimeFX is one platform that offers resources and tools to hone your trading skills and has a number of these resources that are mainly geared to newbie traders.

Pro’s & Con’s Of Trading With LimeFX

There is no action required from the users, as the account automatically copies the trades. This makes it easy to access the crypto markets without needing prior knowledge or research. There is complete control over the Strategy Managers and the amount to invest. Overall, although LimeFX offers an excellent copy trading service, it lacks other analysis tools, such as Autochartist, Trading Central, and Trading View that are often available at other brokers.

LimeFX review

We want to ensure you have all the knowledge necessary to use the LimeFX trading tools confidently, from depositing and withdrawing funds to executing trades. You must be diligent and thorough in your LimeFX review selection process to safeguard your hard-earned money. It’s crucial to do your due diligence and research the reputation, track record and trust worthyness of LimeFX.

Brokers By Platforms

In the next section you will get a professional overview of the conditions, trading platform, and service for LimeFX clients. During my review, LimeFX only provided a low-paying refer-a-friend promotion and advertised that deposits are free. The loyalty program, including cashback rebates and the low trading fees in the commission-based account types, are superior long-term benefits to any bonus or promotion.

  • LimeFX are able to accommodate various levels of traders whether you are experienced or a beginner.
  • The kinds of trading fees and the rates vary from broker to broker.
  • The execution time of withdrawal will depend on the option selected.
  • They have accumulated millions of clients over the several years they’ve been in the industry.

The company specializes in facilitating cross-border B2B payments. It provides cross-border transactions in 200 countries and territories and more than 150 local currencies, with its cross border wire transfers, online payments, and refillable debit card services. Payoneer, an American financial services company, offers online money transfer and digital payment services. Each time you move money into your bank accounts, these withdrawal charges become applicable. MetaTrader 4 also known as MT4 is one of the top trading platforms on the planet and has been in active use on financial markets since 2005.

What trading platforms does LimeFX offer?

For us, customer support is one of those pivotal litmus tests that we apply to a broker. Similarly, as is the case with the deposits, you cannot withdraw your funds into a third party account. It is also worth pointing out that LimeFX will not credit your funds if you send them from a third-party account. Hence, the bank account / funding method has to be in your name. It is also worth pointing out that if you are going to be transferring funds between accounts and a currency conversion takes place, then LimeFX will try to convert the rate at close to market.

Since they don’t offer crypto trading, you could check out Vantage for your crypto needs. With a mission to ensure your safety, LimeFX offers instant executions, competitive spreads and modern trading technology solutions. I found the trading conditions to be acceptable although there are better forex brokers out there from my experience. Apart from trading fees, online brokers also charge non-trading fees.

LimeFX fees: How much does it cost to trade?

If you are unsatisfied with LimeFX or want to explore other options, we recommend checking out our carefully curated list of highly-rated LimeFX alternatives. Follow the links below to learn more about these LimeFX broker alternatives and choose the one that best suits your trading needs. Trading financial instruments is a high-risk activity that requires careful consideration and risk management. It is important to be aware of the potential for loss and to only invest what you can afford to lose.

Consequently, you are charged more for non-trading activities on your trading accounts, like deposits and withdrawal. While conducting our evaluations of online forex brokers, we’ve collected over 360 data points that track the research-specific features that are most important to traders and investors. LimeFX offers 3 of those 5 features, whereas the average forex broker offers 3 of those features. LimeFX received an overall rating of 7/10 in the research category, contributing to its overall category ranking of #57 out of the 62 brokers in the BrokerNotes database. Looking at our database, the average forex broker offers 6 of the 11 features variables we track in the commissions & fees category, and has average spreads of 1.04 when trading the EUR/USD. LimeFX offers 7 of the 11 features, while offering average spreads of N/A which helped contribute to the broker ranking #37 out of 62 brokers in this category.

Overall, MT4 web is a convenient and efficient way for traders to access the platform and manage their trades. Let’s explore each of these trading platforms in detail and what options LimeFX gives you. LimeFX may charge commission fees for fulfilling, modifying, limefx official site or canceling an order on behalf of its clients. However, if a market order is not fulfilled, no commission fee is usually charged. Reviewing LimeFX terms and conditions to understand the commission fees and any other charges that may apply is essential.

Can you trade Japanese Shares with LimeFX?

The reason that LimeFX asks for your passport when you open a live account is to ensure that it remains within the rules of its regulated bodies. Because there is a lot of money moving around the world, LimeFX has to be careful that they don’t breach any money laundering laws and part of that is know as KYC (Know your customer). This means that at all times, LimeFX must know exactly who they are dealing with so that if there is any investigation they are comfortable that they are well within the law. LimeFX is a trading partner that has paved its way successfully into the broker world.

A fast implementation will allow users to trade without worrying about slippage safely. Of course, there is no sure-fire way to ensure profits; thus, you should carefully assess your agent before you select them. It’s a common misconception that all brokers are the same, but that is not true. Wrong judgment, in the beginning, can put your investments at risk.

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