Our LimeFX review discovered that they are an excellent alternative for automated trading solutions. It's best suited for investors that are searching for an assortment of assets. Broker / crypto exchange gives the trader quotes that differ from the real market. There is a substitution of data in order to make operations unprofitable. At the same time, the trader thinks that his operations were made on the market, but in fact – just on the site of scammers.
BrokerChooser is free to use for everyone, but earns a commission from some of its partners with no additional cost to you . Although Forex brokers in the past have conducted some shady activity, The Dodd-Frank Act was introduced in 2010 to combat this. In short, this act ensures that you will not be involved in a scam with a US based Forex broker. Any fraudulent activity conducted by a broker will result in the immediate revoking of its license, and a high fine.
Founded in 2019, it offers a broker trading platform which blends proven processes with the latest in trading trends. LimeFX is a legally registered forex broker located in Dominica, but not regulated by any government agency. The limefx broker reviews broker goes to lengths to offer security of client funds with multiple security measures put in place to help safeguard them. They use cold storage to ensure clients funds are completely offline away from potential online threats.
Is LimeFX A Good Broker?
Returns Offered – One factor that distinguishes a great binary option trader from a non-experienced one is the level of profitability they offer their traders. Amidst the high rate of competition in the trading market, some brokers still stand tall in the crowd because of their great returns record. Moderate return rates range between 65% and 85% but could be higher in some cases such as 400% which occur in special irregular cases. If this currency pair were to be traded by different traders on let’s say 10 distinct trades on different trading platforms, the profit disparity would still be symbolic. Therefore, LimeFX advises every binary option trader to consider returns when choosing a broker.
Besides, they’re executed pretty much instantly, and the transaction limits are very flexible. As noted earlier, the broker doesn’t hold a traditional type of license from a governmental regulator, which, to be honest, would immediately trigger LimeFX scam suspicions. Arguably the most important thing you need to make sure of when choosing a certain brokerage is how reliable it is. Usually, we rely on the broker’s regulation to determine that, however, it’s not always the clear-cut way. Next up, we’ll explore the website, as well as other software features, of LimeFX. When it comes to the website layout and design, it’s only fair to say that it looks well-optimized.
With negative balance protection, the danger of eating up all your account balance and going to the negative balance is eliminated – it’ll immediately close the position once it hits zero. Finally, we’ll move on to the discussion about trading terms and conditions. These will include the maximum leverage rate, as well as commission charges, spreads, and whatnot. Upon the first inspection of LimeFX and its trading platform, we came to realize that there are quite a few beneficial offerings in it. But first, let’s take a quick look at its regulatory measures.
It features a modern design with pleasing color schemes and whatnot. It features a pleasant and modern-looking color scheme, and doesn’t shy away from visual decorations whenever it’s necessary. But more importantly, you can find pretty much all details about how trading is done at EaglesFX.
But judging by the fact that most scammers manipulate their Webtraders to get as much out of their traders as possible, it’s likely that LimeFX does the same. Once we steered our LimeFX review towards the trading conditions of the brokerage we were actually surprised that they can offer decent conditions for both beginner and veteran traders. Some of the information we are providing, we received directly from the broker’s customer support. Based on the times we messaged them, it’s safe to say that it’s a 24/7 support system. Unfortunately, it’s more of a ticket system than a live chat and is only in English .
We could not find any proof that this crypto platform is regulated by any legal authority. As it is not regulated at all, it does not provide any protection for its clients. If you invest on this platform, you risk losing your money and no one will return your investments. The genuine brokers that are operating in the market often require low deposits as high deposits are not in the favour of the regulatory bodies. Whereas, this broker tends to charge a huge deposit amount that is a major red flag to avoid moving further with your investment journey. The same criteria goes with leverage, as the leverage offered by legit firms is low and in small amounts.
MetaTrader 4 delivers an easily accessible, user-friendly layout that was developed to enhance performance. The mobile trading app versions also offer the same features, but of course differ in that they allow for trading from virtually anywhere. New traders will find MT4 to be easy to master and easy to use, which is one reason why such a large number of individuals make the decision to start trading Forex each day. The era of the internet has made people habitual of getting the benefits at the earliest.
Are LimeFX Regulated?
Despite our efforts to locate any kind of financial regulation on its website, we weren’t able to find any, which only means that LimeFX doesn’t actually hold a license from a governmental regulator. The fastest way to get in touch with LimeFX is via the 24/7 live chat support. You can also submit a ticket through the website where responses are typically received in 15 minutes. For those who would prefer to speak to a member of the team over the phone, you can submit your phone number and request a call-back within 4 hours. Any processing fees from your bank might need to be incurred by you.
- This means your capital is at risk with this broker and you could be a victim of unfair trading conditions and a lack of support from governing bodies should the broker scam you.
- It’s basically the same as the standard one, although it effectively eliminates swaps, which renders overnight trading accessible for Muslim traders.
- LimeFX is a STP broker, which means that straight through processing is used to avoid any conflicts of interest.
- This account seemingly a low trading cost account with NO markups and super-tightened spreads starting at 0.0 pips, as the name suggests “Zero Account”.
- The Islamic account is only available to traders who practice the Islam faith.
LQDFX clients are loyal to them and one of the reasons for such loyalty from them is attentive and helpful customer support. Indeed, 24/5 multilingual troubleshooting will be there for you on business days and resolve all the possible problems quickly and efficiently. Price action trading By offering full STP execution, LQDFX proved that they are one of the few transparent Forex brokers who really care about their clients and act in their best interests. They have no conflict of interest, no requotes, no delays, and no dealing desk intervention.
LimeFX Review 2022 Is The Trading Broker A Scam?
The first reason is a lack of forums or public platforms online where different traders can discuss the legitimacy and quality of brokers they’ve traded with. Forex broker reviews provide an objective view of a company’s features and allow traders to participate in the discussion where they can Carbon credit agree or disagree with the reviewer’s findings. In conclusion, the trading conditions offered by LimeFX are perfect for forex traders, especially beginners and scalpers. The tight spreads, tier 1 liquidity, rapid execution speeds and high leverage make it a truly great broker, condition wise.
If your account hits zero and starts to go into negative balance, negative balance protection will automatically close out the position and saves you from too grave losses. We’ll talk about its regulatory measures, software support, and, of course, trading limefx company reviews terms and conditions. Easy setup/platform, Fast withdrawls and fast trade excecution. LimeFX is my third broker since Feb 2020 and it's the best one to date. Instant crypto withdrawals and support even during the weekends made my life much easier.
A commission fee of $6 is charged and swap/rollover fees do apply to trades remaining open after-hours. Obviously, swap fees can be avoided completely by closing open trades while the market remains open, but commission costs will still apply. The good news here is that the spreads, which is what most brokers use to generate the bulk of their earnings, are extremely low. This fact will help to ensure that you have a better chance of locking in greater profits with each and every trade.
The instruments can be traded on MT4 desktop and MT4 mobile, just as on WebTrader. Among the instruments to trade are Currencies 55+, Cryptocurrencies 30+, and CFD (20+) — Gold, Silver, Other Precious Metals, Stock Indexes, Oil, Other Commodities Indices. Suppose you are looking for a place to trade with foreign currencies, limefx company reviews cryptocurrencies, CFDs, commodities, indices, and much more. In that case, LimeFX might be just the place to be taken into consideration by you. The economic calendar is a tool you may use as part of a fundamental analysis. It displays economic events, the affected currency and the expected level of impact.
They are pro and I like the customer service they are on time calling me and email me. Stay away from these people, they will keep everything you deposit with them. Although I managed to get everything refunded with the help of The WLimeFXh Guard .Tech.
For example, as mentioned above, US based forex brokers must have an operating capital of $20 million, whereas UK based forex brokers are only required to have a working capital of £1 million. This broker also boasts a wide array of investment opportunities and offers 105 forex pairs, 7,400 CFDs, US-traded Bitcoin futures, and much more. IBKS’s Trader Workstation is a bit difficult to use but does provide a full range of features – although we’ve chosen IBKR for its mobile app, it should be used as a supplement to their other platforms. A new name in the increasingly competitive broker space, LimeFX is equipped with a number of unique features that make it an attractive option for traders.
A trading desk team member can be reached using email or live chat and can also be spoken with via phone. Zero account is for experienced and professional Forex traders whose strategy demands interbank spreads for high-volume trading. This account seemingly a low trading cost account with NO markups and super-tightened spreads starting at 0.0 pips, as the name suggests “Zero Account”. The LimeFX Account has been designed for experienced and serious traders who are looking to trade on raw spreads starting from 0.1 in an LimeFX environment. The account charges a small commission on trades and is ideal for traders who prefer to trade in the short-term, especially EA and Scalper traders.
The third platform is WebTrader, allowing you to trade Forex from any browser and operating system with no additional software. It is a platform with a simple, slightly scaled-down design that offers fewer functions than the MT4 desktop platform but an excellent understanding of trade in general. Traders do not need to do this with LimeFX because of the anonymity of Bitcoin. This means that you can set up your trading account within 10 minutes without any hassle. Only a handful of offshore Forex brokers accepts US clients these days. However, how do you go about finding the best offshore broker for you?
LimeFX Broker Login Page
The minimum deposit you must deposit to begin on LimeFX is $10. It's possible to make more advanced deposits as you cooperate. But, ensure you know how to make the most of your money before investing larger sums.