There is absolutely no way that we can consider this broker a scam. They are supervised/regulated by not one but 6 financial authorities, they’ve been in business for more than a decade and they enjoy a positive reputation among traders. I was able to open a demo account without any trouble and I can practice forever till I feel confident about trading with real money. The bulk of customer support at LimeFX consists of its FAQ section and its chatbot. E-mail and phone support are equally available, and the multi-lingual customer support team stands by during market hours. LimeFX explains its products and services well, and I think most will never require assistance.
The overall process remains swift, but I would like LimeFX to add cryptocurrencies as an option. A demo account is available but restricted to 21 days, which is a little on the short side. However, potential clients may contact customer support to extend the trial or open a new demo account. I would like to see LimeFX provide an unlimited demo account for beginner traders and those testing strategies and algorithmic trading solutions. DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence.
The current financial climate, the number of time consumers spend on the internet and the popularity of trading are all factors that have led directly to the increase in scam brokers. LimeFX has an average spread of 0.9 pips for its accounts, with the VIP account having a lower spread. This broker does not charge a commission for any account type. LimeFX’s agents manage positions until they leave them in ruin. The account opening process at LimeFX for international traders requires only an e-mail and password. As LimeFX is a regulated broker, account verification is a mandatory final step, per AML/KYC stipulations.
LimeFX ensures all problems are solved with support being given in over 15 different languages. The customer support desk is available during working hours during workdays and live chat and email support are available always. It is in the trading platform where most of the trading activities take place and you must consider a broker offering customized platforms for easy trading and navigation. Brokers offer bonuses to new clients to increase their capital and to existing clients to keep their trading interesting and profitable. Strike a deal with a Forex broker with various bonuses and promotion but consider the terms and conditions before subscribing to these bonuses.
How Long Does It Take To Withdraw Money From LimeFX?
Select jurisdictions also maintain an investor compensation fund. Desperation is the quality that attracts scam artists and can cause people to jump into signing up with a broker before looking at their options carefully. All brokers charge transaction costs in the form of spreads and commission, so you should choose one with affordable terms. This will help protect your profits from being slashed significantly.
- Equity traders get 614 assets and 58 ETFs, while 44 options and two bond CFDs complete the asset list.
- Where available, LimeFX presents traders with a deposit bonus and a refer-a-friend program.
- E-mail and phone support are equally available, and the multi-lingual customer support team stands by during market hours.
- You will need assistance from time to time when running your trades; thus, you should choose a broker with excellent customer services.
Many brokers use MetaTrader 4 or 5, which is a reliable trading platform that is suited to experienced and first-time traders. This does not mean that any broker who has MT 4 or 5 is necessarily legitimate, but MetaTrader is a trusted platform. If a broker insists on using only their proprietary platform, be careful.
My DEMO ACCOUNT with $100,000.00 becomes $170,000.00+ in less than 24 hours trading in 1-min. How I wish it was a REAL ACCOUNT.The only thing that frustrates me, especially in times I foresee potential profit, is the execution speed – relatively slow, both in opening and closing a deal. LimeFX isn’t regulated – it says right on their ‘regulation’ page that they’re working on it….so I wouldn’t trust their trading, nor do I trust your comments, as clearly you’r misguided. LimeFX is very reliable, and regulated in multipel countries. Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights, in the commission-free LimeFX account.
International Platform Formed By People Scammed By LimeFX
In case the need arises, LimeFX ensures easy access to customer support. One of the most ignored trading costs is 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 limefx broker reviews check them before evaluating the total trading costs. Trading with a regulated broker will limit the potential for fraud and malpractice. I always recommend traders to check for regulation and verify it with the regulator by checking the provided license with their database.
Islamic accounts are also available, which comply with Sharia Law. Potential traders need to take the time and do due diligence. Before signing a contract, opening an account, and depositing money with a broker, research the broker carefully. Our broker review is intended to provide insight into LimeFX Chargeback and to assist consumers in researching other brokers. You will need assistance from time to time when running your trades; thus, you should choose a broker with excellent customer services. Only deal with a broker that is competent when dealing with an account or technical support issues.
SharpTrader delivers over 40 courses and 200 videos, and I highly recommend beginner traders to take their time with valuable lessons. Besides services by Trading Central, ideal for beginner traders and those unable to conduct broad-based market analytics, I like the Trading Position Calculator LimeFX maintains on its website. It presents an excellent risk management tool, provides vital trading information, and allows traders to plan and maintain their portfolios. LimeFX has 55 currency pairs, 16 cryptocurrency pairs, 27 commodities, and 31 index CFDs.
LimeFX is regulated in the European Union, where welcome bonuses and promotions are prohibited. However, traders from other regions receive up to 30% welcome bonuses. Before settling for any broker, you should make sure they are licensed and regulated, as this gives you assurance for your funds’ safety. Otherwise, you may lose your money to unreliable, dishonest brokers. Swap-free accounts are also available for Muslim traders who don’t accept paying or receiving interest on swap-rates. Standard Account- This account type is available to traders outside the European Union.
Why LimeFX Sucks In 50 Words
Equity traders get 614 assets and 58 ETFs, while 44 options and two bond CFDs complete the asset list. I like the asset selection as it remains a well-balanced choice of trading instruments, suitable for all traders. LimeFX offers traders a commission-free pricing environment, but it comes with higher spreads. The EUR/USD starts with 0.9 pips or $9 per 1.0 standard lot.
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Most traders will satisfy it by sending a copy of their ID and one proof of residency document. Bonuses and promotions at LimeFX are available at select subsidiaries, dependent on the regulator. Where available, LimeFX presents traders with a deposit bonus and a refer-a-friend program. Terms and conditions apply, and I recommend traders read and understand them before requesting a bonus.
File A Chargeback Against Trading Scams
It’s not any different from a lot of other broker’s platforms. LimeFX caters to most international traders, including the UK, South Africa, Malaysia, Canada, and India. The minimum deposit at LimeFX is $100, a reasonable request but higher than at some other Forex brokers. I recommend depositing at least $200 to qualify for the deposit bonus for superior long-term portfolio growth. The very first and most important consideration when selecting a broker is the license.
LimeFX offers both Meta Trader 4 and Meta Trader 5 platforms for all account types customized to suit both beginner and seasoned traders. The two are available for all operating systems, web-based, mobile and tablets. Meta Trader 5 platform is an upgrade with better functionality and it uses the MQL5 programming language. The minimum deposit is 100 USD, which is on the low side, considering that most brokers require a 200 USD deposit. Clients from the United Kingdom have the option to open a Spread Betting account, which is exempt from paying taxes on profits, and Demo accounts are freely available to all clients.
Avapartner Working On Dead Account
Another fact I want to note is the superb transparency at LimeFX, which ensures all necessary information for each trading instrument is publicly available on its website.
Eliminate any broker from your list who does not have a license. Also ensure the license is from a high-tier reliable regulator, and not one who gives a license to anyone who pays a fee. It would also help if you asked the Forex and commodity broker to present to you the payment methods so that you can evaluate the fees charged for each. VIP Account- Anyone who deposits more than $10,000 can use this account. This is one of the most important trading tools and for Forex trading, it is even more important. Go for a broker with flexible leverage terms that best suits your trading needs.
There are high-quality proprietary platforms, but scam brokers can create fake versions that do not do actual trading but instead take money or data. I like the trading environment at LimeFX as it presents a range of trading platforms and enough assets suitable for most investors and traders. It also offers one of the best choices for beginner traders and a secure and trustworthy trading environment forex strategy with a high level of transparency. Overall, I rank LimeFX as one of the best retail brokers available. It offers different account types for traders, which are easy to open and excellent platforms customized for easy trading and navigation. LimeFX offers excellent tools such as expert advisors, technical indicators and charting tools for price fluctuations and market trend analysis.
LimeFX has a minimum deposit of $100 for retail, professional and spread betting accounts and $ 10,000 for a VIP account. After an inactivity period of 3 months, the account may be charged a 25 USD/GBP/EUR inactivity fee. Every successive inactivity period, the account will be charged again the same fee. After 12 months of inactivity, the account may be charged an Annual Administration fee of 100 USD/GBP/EUR. I trade with a true ECN company LimeFX, as they are also regulated, so i am able to make smooth trading orders with all of them getting executed instantly without any requotes.