LimeFX review: Is it a legit or scam forex broker?

The above regulators strictly oblige the broker to follow the required performance, hence LimeFX has no doubts about their reliability. LimeFX offers multiple trading tools, which are essential for improving one’s forex trading skills. They can help traders make better decisions, identify opportunities, and monitor their portfolios.

• The cTrader Forex Trading platform is perfect for novice traders who are looking for an easy way to start trading forex and CFD products.
• An adequate FAQ addresses most inquiries, though its organization and content could be improved.
• It is possible to lose some or all of your money and LimeFX.
• Our mission is to provide online investors with the most unbiased, comprehensive reviews and ratings of self-directed brokers.
• They asked me to send them the confirmation document from my other broker.

Pip spread is without a doubt one of the tightest I’ve seem especially in active markets, Asia Market is understandable to have a slightly wider because of a lower liquidity in the market. LimeFX is a total disaster lately with huge slippage especially with overnight trades. Great New Broker – Just opened my live account and trading is going very well so far. They closed my positions on the weekend because of abnormal conditions.

The company grew and became one of the largest Forex Brokers in the world. It aims to create a world of tech-enabled trading, in which aspiring traders can take opportunities and challenge the global markets. LimeFX does not forget about manual and beginner traders, which I like, as it is evidence of their effort to be a broker for all types of traders. The analysis section features high-quality written market commentary, trade ideas, and videos, presented with tradeable information and well-explained. I rank LimeFX research among the best offered by brokers.

To start forex trading withLimeFX trading platforms, you will need to deposit $200 initially. However, it may depend on the country you are trading from. While they have free deposits and withdrawals for most of the markets,LimeFX withdrawal feeis $20 for withdrawals via bank for clients located outside of Australia and the EU. BaFin is the Federal Financial Supervisory Authority in Germany, and it regulates the German Forex market. It licenses forex brokers and provides regulatory guidance to the market.

These are very helpful for any type of trader and have a client manager who supports the trading journey of each trader with this broker. The company strongly promotes knowledge and expertise in online trading from industry-leading analysts and market strategists. The customer support operates 24/5 and is multilingual support. LimeFX also offers free educational resources, which include trading guides, webinars, and how-to videos. LimeFX offers both MetaTrader 4 and MetaTrader 5 to its customers which are the most popular mobile trading apps in the world. These trading platforms are very easy to use, have advanced tools, are customizable, and have a whole lot of other features that give you a big edge in online trading.

In order to operate in the German Forex market, brokers must be registered with BaFin and comply with its regulations. BaFin also maintains a public register of forex brokers, which anyone can access. The non-trading fees are also low – withdrawal is free for credit/debit cards and e-wallets, except for Skrill and Neteller.

… i have had so many trades run past my Take Profit mark without being closed i even have screen shots that i posted all over facebook so the world can see what LimeFX does. On the other hand i have had my Stop Loss hit 5 to 10 pips away from my SL….why is it that my trades can run 20+ pips passed my TP without closing but my SL gets hit 3 to 5 pips away. Do yourselves a favor and stay away from LimeFX unless you want your money stolen. If you are looking for a broker that offers Forex , Contracts For Difference , and Cryptocurrencies, then LimeFX might be the one for you. I know I might be sounding like a broken record but regulation and a long history in the business are paramount for a broker. I would never trust an unregulated company that was launched a couple of months ago – that would be like handing my money to a stranger I’ve just met on the street.

LimeFX Demo Account

LimeFX explains its products and services well, and I do not think many traders will be likely to require any customer support. LimeFX presents 24/5 customer support, where the live chat function from the back office offers the most convenient contact method. I recommend the latter for emergencies, which I am confident will remain minimal. LimeFX was founded in 2010 and quickly grew to become one of the largest forex brokers in the world.

• For instance, you can safely trade the S&P 500 CFD, Europe 50 CFD, EURUSD assets with low fees, especially with the higher tier accounts.
• I know I might be sounding like a broken record but regulation and a long history in the business are paramount for a broker.
• Your application will be reviewed first by LimeFX’s back office team and once your documents have been verified and the application has been approved, then you will receive your trading account login details.
• In addition to regulating forex trading, SCB oversees all other forms of securities trading in The Bahamas.
• Thank you for your feedback and we are sorry to hear that your experience with LimeFX was not a positive one.
• However, with bank transfers, the withdrawal may take 3 to 5 business days.

If you prefer trading at high volume, you may want to check out the Active Trader program. This gives you rebates based on the number of trades you carry out and you can save on commissions. LimeFX has low non-trading fees.The brokerages charges no inactivity and account fees. LimeFX’s account opening is fast, easy, and fully digital. Deposit and withdrawal processes are user-friendly and, in most cases, free of charge. Comparing between different Forex brokers is actually very easy, once you know what to look for.

What type of broker is LimeFX?

The analysis section covers a wide array of topics, from politics to other newsworthy events, while a section called the “Daily Fix” provides analysis on market-moving events. The broker’s Twitter account also appears to be quite active. MT4/5 and cTrader provide few research features but the Smart Tools add-on for MT4 partially remedies this deficit.

Is a bit difficult to log-in and I had to contact chat twice to give me different server links I needed. Just the other day, I talked to the online agent and they assured me that they would never close my positions without my authorization. Barely two weeks were over and they closed my positions without a warning citing random clauses in their contract. I’m based in South Africa and originally did a transfer into my trading account via my Mastercard. I had a good experience with this broker except that they closed my account because they stopped dealing with clients from my country according to what they said . Out final thoughts about LimeFX are very positive, as a regulated broker LimeFX delivers a reliable trading solution.

Account Types

The major difference is that you can set alerts and notificationson the desktop trading platform, in the form of mobile push and email notifications. To set email or mobile notifications, you must add your email address and mobile MetaQuotes ID . Similarly to the web trading platform,LimeFX provides only a one-step login. We tested credit card withdrawal and it took 2 business days. What you need to keep an eye on are trading fees and non-trading fees.

This would be a red flag were it not for the fact that the company is regulated by the FCA which, along with U.S. regulatory agencies , is widely considered to be the preeminent regulatory body. The broker was a revelation when they pushed out the Razor Edge account type, trade execution was simply flawless, pending orders get executed +/- 0.1 pip slippage, which is not bad at all. Market orders in a extreme new event could slip a little more. MyFXbook account linked to my LimeFX account does not update statistics for several days. In the first step, traders select their base currency to trade, which is important for traders to do.

This brand is regulated with FCA, ASIC, CySEC, BaFIN, SCB , CMA , and DFSA . All information on 55brokers.com is only published for general information purposes. We do not present any LimeFX advice or guarantees for the accuracy and reliability of the information. Please educate your support people so your client won’t loose money for nothing. Three largest brokerages such as CMC Markets, LCG and LimeFX and two more major companies have applied for getting the Dubai Financial Services Authority license. These companies want to acquire an operating license in Dubai.

This website seems to offer high-risk financial services like trading in oil, gold, foreign exchanges, and off-shore LimeFXs. Please review our blog on the risks of high risk financial services before investing. FYI in a free forex market using STP once a stop loss is triggered it becomes a market order on MT4.

It continues to expand its market share on the back of competitive trading costs, high-speed trade executions, and a well-balanced asset selection. Check out my review of this award-winning broker below to determine if LimeFX is truly worth the widespread praise it gets. DailyLimeFX adheres to strict guidelines to preserve editorial integrity to help you make decisions with limefx confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here.

How do I open a LimeFX account?

LimeFX does not have commission charges for deposit and withdrawal. However, it may charge some amount if traders are out of the country mentioned on the website. The last step is to fund the account with a minimum deposit amount required to start trading. This depends on the account selected by the trader, or the trader may go for a demo account and trade with virtual currency to set strategies. You can use demo accountsfor getting familiar with the platforms. We think this is the best way to learn how LimeFX trading platforms work.

• This way you’ll receive automatic notifications when emerging and completed chart patterns such as triangles, wedges, tops and bottoms are identified.
• Some people say, “go see ASIC”, well ASIC is a facade for industry rule.
• Additionally, UK traders receive protection up to £85,000 under theFinancial Services Compensation Scheme Protection .
• BaFin is the Federal Financial Supervisory Authority in Germany, and it regulates the German Forex market.
• LimeFX offers to trade withForex, CFDs , cryptocurrencies, and commodities.CFD tradingis one of the most popular trading LimeFX styles around the globe.

Autochartist is also available, further increasing the edge for traders. Additionally, LimeFX offers the cTrader platform, and I find the overall choice of trading platforms excellent. All three platforms support algorithmic trading and come with embedded copy trading functions.

So, Is LimeFX A Scam?

LimeFX offers its clients the AutoTrade social trading system powered by Myfxbook; a renowned online website that supports the analysis, sharing, and comparison of trading account performances. To start using AutoTrade, LimeFX clients are required to visit Myfxbook website and link their LimeFX trading account with AutoTrade; since Myfxbook does not act https://limefx.biz/ as a broker. Then, they can mirror the trades of other expert traders and make profits when they do. This is a trading platform designed for both newbies and expert traders. It has many features to help a trader to analyze the markets, place multiple orders, manage risks and carry out multiple tasks. It comes with over 70 technical indicators and about 26 timeframes.

Because if they did not close my positions, my account’s balance should be 7577,83 usd on first second of market opening. I opened an account with LimeFX and start trading on IT40. I deposited money again and open IT40 positions again on friday. My positions were still opened after market closing on friday and they closed my positions on the weekend.

It is possible to lose some or all of your money and LimeFX. Practice caution and see financial advice when unsure because what we offer here is NOT financial advice. We provide objective and unbiased reviews, analysis and commentary. We verify some of our data for quality control but there are slight variations limefx website occasionally. Any and all partnerships with industry regulars are not and should not, be viewed as an endorsement or recommendations by topfxbrokersreview.com, even though we may be sponsored by some of the brokers. We are not liable for losses that resulting from the information provided on our site.