Online Trading in the financial market and trading in CFDs LimeFx Online Forex Broker
They also have a Telegram channel and email support is working properly. There is only one downside here, we weren’t able to find an online form. But since other support channels are working fine, this is just a minor inconvenience.
Monitoring of LimeFx’s STANDARD account
- The main downside is the offshore regulation, which may not provide adequate protections compared to other brokers.
- Overall, my experience with customer support at LimeFx was positive and better than average for the industry.
- I like how there is a great range of powerful trading tools freely available which can be very helpful for market analysis and finding trading opportunities.
- LimeFx supports credit/debit cards, cryptocurrencies, ADVcash, and Perfect Money as payment methods.
- Traders should thoroughly test any EA before using it in live trading and should also have a solid understanding of the underlying strategy and algorithms used by the EA.
The company uses modern trading platforms, advanced liquidity aggregation technologies and mechanisms for direct access to the interbank market – STP, ECN. For metals, currency pairs and cryptocurrencies, the company has introduced improved swaps that allow clients to save 30% on swap fees. Also cryptocurrency trading available 24/7 for MetaTrader 4 and MetaTrader 5 platforms in LimeFx limefx scammers broker. An Expert Advisor, also known as a trading robot, is a piece of software designed specifically for automated trading. This program performs various actions in the trading platform at the request of a trader without their direct involvement. The Expert Advisor automatically tracks distinctive trends at a certain point in time using trading indicators or other signals.
Does LimeFx offer trading in metals?
These awards further underscore the company’s commitment to providing exceptional service to its clients and partners around the world. Moreover, LimeFx has been honored with the “World Business Stars Magazine Award 2023” and the “Best Introducing Broker Programme Asia Global Forex Awards 2022”. These awards are a testament to LimeFx’ dedication to offering the highest standard of services to traders. In conclusion, these numerous awards and recognitions reflect LimeFx’ commitment to excellence and its continuous efforts to provide the best services to its clients and partners. They serve as a testament to the company’s reliability, innovation, and high standards in the financial markets.
Account Types
LimeFx supports many payment providers, making depositing and withdrawing from your brokerage account a snap. While there are no deposit fees, withdrawals come with a charge and are the most costly via credit card. The Copy Trading service https://limefx.group/ at LimeFx allows clients to select strategies based on parameters such as profitability, number of investors, and age. There is no need to download or install any software as trades are copied automatically in the web-based platform.
What are the procedures for withdrawing my money from my account?
The most ignored trading costs are swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check these before evaluating the total trading costs. You can trade forex, metals, cryptocurrencies, indices, shares, and several other instruments with LimeFx. Yes, LimeFx routinely offers discounts and incentives to new and current customers.
These countries include the Russian Federation, Ukraine, Uzbekistan, Indonesia, Turkey, Malaysia, Kazakhstan, Nigeria, Belarus, and South Africa. LimeFx has an active YouTube channel, providing video analysis to complement its written market commentary. The Analytics in 3 Minutes series focuses on the US dollar and covers major market themes such as central bank policy.
Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry. Registered and licensed offshore on the island of Mwali (Comoros), it provides access to trading in CFDs on currency pairs, commodities, indices, shares, ETFs, bonds, futures, and cryptocurrencies. There are plenty of payment options available, including wire transfer, bank cards and electronic payment systems such as Skrill and FasaPay. LimeFx does not charge for deposits and processing times are instant for all methods, except for bank transfers, which take 3 – 5 business days. LimeFx Ltd has been providing brokerage services in Latin America, Asia and CIS since 2007.
It provides narrow spreads, adjustable leverage options, and convenient access to multiple leading cryptocurrencies against the US dollar. This account type suits those who wish to delve into the dynamic realm of digital assets easily. For clients participating in the “Get cashback from LimeFx” loyalty program, the broker returns part of the spread. The greater trading activity the clients demonstrate, the more funds they can get back to their trading accounts. The broker states that they charge 0% commission on deposit and withdrawals which is great but external payment providers may charge fees.
However, it’s important to note that there have been some negative reviews as well. One customer complained about the broker playing with spreads and not allowing withdrawals. In response to this, LimeFx stated that they are regulated by the international mediator Financial Commission and have been steadily withdrawing clients’ money since 2007. Regulation LimeFx is regulated by the International Finance Corporation (IFC). However, a review from 2020 mentioned that LimeFx does not hold a license from any worldwide serious Forex authority.
It is good to see they have responded to both good and bad feedback online. I am always impressed when a broker takes the time out to address any concerns although of course, it would be even better if there weren’t such concerns in the first place. It is great to see the broker supports Muslim traders with Islamic accounts that comply with Sharia law also available upon request. LimeFx also offer traders the MT4 MultiTerminal which is an MT4 feature that allows you to use several accounts at the same time with no need to re-login.
In this setup, the account manager acts as a fund manager, with the clients being the investors. The investors pool their funds and gain access to professional fund managers and their trading strategies. The returns are generally shared based on the investors’ contribution to the total capital of the PAMM account. While LimeFx does not explicitly offer MAM or PAMM accounts, they do provide different types of accounts for Forex trading, including Fixed, ECN, and Standard accounts. These accounts offer various features such as different levels of leverage, order volumes, spreads, and commissions. It’s important to note that while MAM and PAMM accounts can offer potential benefits, they also come with risks.
The robust regulatory frameworks ensure a seamless and secure trading environment, fortifying the protection of client interests and funds. LimeFx’ enriched legal and regulatory structure, professional memberships, and commitment to transparency and quality are foundational to its success. The comprehensive and structured approach underlines the company’s unwavering dedication to client safety, business stability, and operational reliability. The open availability of audit reports and adherence to stringent regulatory norms further echo LimeFx’ mission to provide a trustworthy and client-oriented trading environment. ✅ LimeFx’ website has a thorough FAQ section that answers frequent questions about account administration, deposit and withdrawal methods, trading conditions, and platform use.
LimeFx has four trading accounts designed for amateurs and professional traders. They also offer an Islamic account option for traders who adhere to Islamic rules on trading. The broker’s customer support team responds promptly to reviews on the Trustpilot page, indicating their commitment to ensuring the best user experience. Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker.
LimeFx strives to retain a competitive advantage via its spreads and fees, which appeal to various trading styles and techniques. Yes, LimeFx does provide a demo account for practice and strategy testing. LimeFx offers an Islamic Account designed specifically for Muslim traders that follow the principles of Sharia law. This account suits proficient traders who engage in high-volume trading or employ scalping techniques. Furthermore, it grants access to several features of professional ECN accounts.
Deposits are often free of charge, encouraging accessibility and convenience of trading commencement. Experienced traders frequently opt for the ECN Account, as it provides direct market access, extremely low spreads, and lightning-fast execution times. Some payment systems may have transaction limits, restrictions, and requirements which are indicated on their respective websites. You may need to verify your account to remove limits on particular methods in some countries.
My email inquiries were answered almost immediately, and the live chat support was reliable. LimeFx offers MetaTrader 5 (MT5) for desktops, which includes advanced functions such as copy trading and automated trading. In terms of regulatory oversight, there is little to none, as all three entities of this broker are based offshore.