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These will include the maximum leverage rate, as well as commission charges, spreads, and whatnot. Finding the right brokerage for your trading accolades is one of the most crucial steps you need to take at the initial step of your career. That said, LimeFX does provide certain security measures, such as providing Bitcoin Cold Storage to safeguard client funds. This ensures that client money is not stored on the broker’s web server but instead within an external storage device, safe from hackers. Traders should be aware that unregulated providers usually will not provide much if any, client protection.
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. 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.
Social and easy to use trading solutions are the core at LimeFX. In accordance with our research, LimeFX is an offshore unregulated broker. This alone does not mean it is a scam, but you should be even more careful with such a provider than with a regulated broker. In order to be sure that LimeFX is not a scam, read our trader reviews and check other popular trading related websites and forums. The source of this information is the website and the broker’s trading platform listed in the Web section of this review. The operator of this website does not verify this information and is not responsible for its accuracy, completeness, timeliness, truthfulness or the compliance of a broker with legal regulations.
All the information on this site provided free of charge and does not constitute LimeFX advise. Any opinions expressed in reviews on this site is purely the opinion of the author. The low rating and scam accusation for not being regulated is lazy. There is a clear niche for brokers to fill that offer trading conditions internationally that some brokers simply can’t because of oppressive regulation.
Please verify whether the broker is authorized to provide its services in your country of residence in accordance with the legal regulations that apply to its business. 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. The genuine brokers limefx courses scam 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 LimeFX journey. The same criteria goes with leverage, as the leverage offered by legit firms is low and in small amounts.
What’s even better is that you have multiple options, respectively Wire Transfer, Credit/Debit card, or Bitcoin. In regards to withdrawal fees, the company does not give any information. All we were able to find is that if you have some questions, you can contact support 24/7.
A number of complaints have been found regarding the scam broker in the various online review sites. A low rating on several online platforms makes it clear that the broker has a negative reputation among the investors. The investors have accused them of being scam brokers and state how they have been victims of the LimeFX scam and lost all their money and efforts to them. Depositing money on LimeFX is free of charge, but you’ll have to make a minimum deposit when you first join.
What is the minimum deposit for LimeFX?
There are no fees for withdrawing by Bitcoin but you may find the amount received in your wallet differs from the amount withdrawn. Once approved, the funds should arrive in your Bitcoin wallet within an hour or less, depending on blockchain traffic. The specialist payments team review and process all withdrawal requests on an hourly basis to ensure that your withdrawals are paid out quickly. Just be aware of blockchain fees because I have been stung in the past where the fee amounted to more than the amount that I wanted to deposit which left me out of pocket. When it comes to payments, the broker supports several payment methods – credit/debit card, BTC, and wire transfer. I have been using LimeFX for approximately 2 years now and have not had any real issues.
It seems clear that you have been defrauded by a scam website impersonating us. If you check the exact website address letter by letter it will not match precisely. Solid broker, very helpful, great information and masses of trading opportunities…..
LimeFX is fair, transparent, and also a well-regulated broker by the Unregulated. Their outstanding variety of resources will be beneficial for the majority of traders. If you’re a new entrant in the world of trading online and brokerages, so many nuances will no doubt be perplexing for you. Getting into the world of trading online demands expert assessing skills and thorough understanding. You will get adept at all of the concepts of trading online and brokers while you keep trading. For starters, you have to select the right online trading platform who’ll always be clear with you.
Spreads and leverage
I asked for the proof what they are not replying since 4 days. Don’t believe on them guys, they are just wiping your money. These partners limefx broker reviews do not control the content on the page beyond providing us with datapoints to ensure that the information in our database is accurate.
- If you feel that LimeFX is not right for you then at the bottom of this LimeFX review you will find a lot of alternatives to LimeFX.
- However, because it is a broker that in accordance with our research lacks any regulation, we would be quite sceptical if we were to trade with such a provider.
- The data contained in this website may not be real-time and accurate.
- 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 .
- Their outstanding variety of resources will be beneficial for the majority of traders.
In the event you’re withdrawing money in various currencies from USD, a conversion fee is also important. The conversion fee will depend on the money you are opting to withdraw in. This LimeFX review breaks down every one of the applicable non-trading fees for you in detail. As per the organization’s privacy regulations, customer data is to not be shared with some other institutions or individuals.
After reading all this, we didn’t quite understand if you can see your funds with this broker, or not, and how to know your balance. In order to allow us to keep developing Myfxbook, please whitelist the site in your ad blocker settings. Claim your listing for free to respond to reviews, update your profile and manage your listing. Now, if we conduct this research traditionally, then it’ll be obvious that there are quite a few suspicions about LimeFX’s regulatory measures. At the bottom of its website, the broker notes that it is based in the Commonwealth of Dominica, although there’s no mentioning of its license. This only means that LimeFX doesn’t actually hold a traditional license.
We didn’t find any useful videos, webinars, or anything of the sort that would help educate clients, so we cannot give this aspect a full rating. What’s even better is that you can get https://limefx.group/ support in multiple languages. Apart from English, you can get support in Chinese, Spanish, Portuguese, German, Turkish, Slovenian, Polish, Czech, French, Italian, and Romanian.
Is LimeFX a good broker?
Moving on, let’s take a closer look at how the trading process commences at LimeFX. First things first, we should explore all available trading instruments. Therefore, the initial overview of LimeFX brokerage shows that it’s certainly worth trading with it. Stay up to date with the financial markets everywhere you go. Therefore, we can easily recommend LimeFX and its trading platform to your readers.
This is important when you consider the crypto market is open 24/7, so you may need to speak with someone on the weekend. This is where the broker fails to maintain the initial value it showcased to us when we began looking at the trading conditions. LimeFX does not disclose the information on its spread range, it just says that spreads are floating, therefore, they can change. The live spread dashboard which is featured on the homepage is also a work in progress, therefore there was no way to find out the exact amount. If a Forex brokerage wants to somehow tap into the US markets they need to posess a license from the local CFTC, which is nearly impossible to do.
So currently LimeFX is not regulated or not overseen by any financial regulator. This means that it cannot be completely trusted when it comes to funds, because there is no regulatory body controlling its actions. Yes, in general, this broker accepts all the clients that are allowed to trade by their domestic laws. As mentioned before, the broker does not have any license which makes it easy to be a victim of a scam. When it comes to balance and funding the account, you can use the deposit and withdrawal section in your account.
It has established plenty of steps to guard all of its investors. Even so, LimeFX does not provide assured stop-loss protection. Understand the trading resources available with LimeFX, freetrade & LimeFX below. LimeFX has a wide variety of over 100 instruments available for you to trade with. We hope that in the future a LimeFX Android app will be available and at that time we will update our LimeFX review accordingly. Unfortunately LimeFX doesn’t have an app in the Apple store.
Does LimeFX offer demo accounts?
The agent goes to great lengths to comprehend what traders need. The broker also provides a variety of platforms for all types of traders. LimeFX ensures that the individual needs of all traders are met to the best of their capabilities. They offers trading on MT4, Web Trader, Tablet & Mobile apps.
On ForexPeaceArmythey have a score of 4/5 stars, with a decent amount of reviews from traders that are thrilled with the conditions and have no problems. LimeFX are based in The Commonwealth of Dominica and they are completely unregulated by any financial authority. 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. The offering of 55 forex pairs, 30 cryptos and 11 indices is enough to keep every retail trader happy. Most traders only really stick to the majors and a few minors, plus maybe a crypto pair or two so this product offering should be absolutely fine. If you trade a really specific market I would recommend contacting their 24/7 support team to check if they offer that market for you to trade.
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- What’s more, LimeFX also protects you from unexpected losses, something that leverage is notorious for.
- It assists in dampening market liquidity and volatility, which are the two main elements that affect the foreign exchange and CFD spreads.
- I have not had any issues with deposits and withdrawals, where I always use bitcoin.
- Generally speaking, LimeFX provides its clients all the necessary support.
- However, despite this, a drawback is that LimeFX is not regulated by any known entities.
LimeFX is a brokerage company offering trading services for clients since 2018 with offices in Dominica. Besides lots of currency pair, LimeFX also offers some instruments you would like to trade on, such as Forex, Gold & silver, Indexes and Cryptocurrencies for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.
A demo account can be used for a variety of reasons including practice trading, testing trading strategies, exploring platforms and offers, and more. LimeFX was established in 2019 in Dominica and even though it is a new broker, it has become a popular choice especially in African and Asian countries. LimeFX has strong partnerships with top LimeFX banks as well as dark pool liquidity execution venues, ensuring that traders have access to some of the best trading conditions possible. LimeFX is a Dominican STP and ECN broker with clients who reside in several countries and jurisdictions around the world.