Basically, this broker only accepts deposits in Bitcoin, so you will need to buy bitcoins via Instacoins, and then it gets transferred to LimeFx. The CFTC has warned American investors not you use this broker, Read more.For broker complaints or problems with withdrawals, read this. Used these for ages now, good for crypto but also good for forex meaning I just need one account. I prefer to deposit and withdraw in BTC and these are perfect for that, most definitely the quickest way to do it. The spreads are pretty average but are solid so you know where you’re entering trades.
The more lots traded by the user, the greater benefits will become available. So I’ve been with LimeFx for a while but there has been some sketchy things going on recently. It froze for at least 30 minutes, I reached out to chat so they opened up a ticket for me. When it unfroze, everything that happened during the time it froze wasn’t there anymore, as if it didn’t happen.
However, Dominica is a notorious offshore zone that does not regulate forex. So currently LimeFx is not regulated or not overseen by any financial regulator. I found out this what what they do every users, I was about to get moneyback with the support from. Negative balance protection – whenever you use leverage, there’s always the risk of increasing the losses significantly. 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.
But first, let’s take a quick look at its regulatory measures. Today, we’ll do yet another review of the LimeFx broker. We’ll talk about its regulatory measures, software support, and, limefx reviews of course, trading terms and conditions. Kyle Townsend is the founder of Forex Broker Report, an experienced forex trader and an advocate for funding options for retail forex traders.
Does LimeFx have fees?
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. We hope that in the future a LimeFx iOS app will be available and at that time we will update our LimeFx review accordingly. In the following table we take the https://limefx.biz/ main parts of any good brokerage and compare LimeFx with freetrade, and LimeFx. ForexPeaceArmy.com has advertising and affiliate relationships with some of the companies mentioned on this site and may be compensated if readers follow links and sign up. We are committed to the fair handling of reviews and posts regardless of such relations.
Commissions could be fixed or determined by the traded quantity. On the flip side, a spread refers to the difference between the buying and selling price. Funding or overnight rates are those who are billed when you hold a leveraged position for more than a day. LimeFx is an online brokerage platform, and many online brokerages charge lower prices than traditional brokerages tend to charge. The cause of this is that the companies of online brokerages are scaled much better.
LimeFx Review 2021
With this, you are able to correct any imbalances in your own account. LimeFx is an excellent broker, and its own users can vouch for it. The highlight of the platform is its quick order execution on trades. In addition, the withdrawn money will be scammed by limefx transferred directly to the account you use to create deposits. Generally, LimeFx does not charge high fees compared to other online brokers. For operations other brokers fee for, they do not charge a broker fee, or they charge a smaller amount.
LimeFx gives an opportunity to its dealers to close their trades in their specified price. Aside from this, LimeFx doesn’t offer guaranteed stop loss. If you are still skeptical, it is possible to open a LimeFx demo account and assess the trustworthiness of the platform for yourself. We have tested the live chat on LimeFx, and it was very effective. We made a request through the LimeFx livechat via their app and web site and recieved a response after 10 seconds.
We’ll also explore available educational materials and how you can enhance your trading knowledge with them. Lastly, we’ll find out various ways in which you can make deposits and withdrawals on this platform. 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. As you can see there is a lot of routes of contact, but sadly there isn’t an email address or a phone number that you can contact for help. Does this mean LimeFx are a scam because they don’t list a phone number? No, of course not, it’s just something to bare in mind though.
- 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.
- But it’s certainly not the only account you can get with LimeFx.
- As part of their ongoing commitment to user satisfaction, LimeFx have prepared some step-by-step guides on how to activate various functions within the LimeFx platform and MT4.
- This scheme has the potential to earn lots of cash if you are at the top of the pyramid.
Another concern with online brokers with respect to security may be manipulation of trading. This is highly disadvantageous for users on those platforms. Nonetheless, this is more widespread in the case of Market Maker brokers who compete with customers on the stage. These bodies have rules that make sure that trading platforms have ploicies in place to keep investor’s assets secured.
The broker is still unregulated and scammy and operates solely to steal customers’ funds. Finally, LimeFx now only offers crypto as a means of payment, excluding cards and e-wallets. If you’re looking for a clear sign that you’re dealing with a scam, it’s a crypto-only deposit. Digital coins are not subject to chargeback and are harder to track and trace.
What you ought to know about trading with LimeFx
Under this system, the “Master Affiliate” will keep earning up to the fifth level, which is tier 5. If you successfully recruit clients and reach tier five, your four-dollar commission per traded lot becomes five dollars. This will last you for the rest of your life, as long as your affiliates will continue to trade and earn with the LimeFx platform. Once your account is instituted and protected by a hefty negative balance, losing all your money would not happen. Additionally, the clients’ money is stored in separate accounts and is only accessible by two-factor authentication, which immensely makes it secure and protected. If your balance is unfavorable, LimeFx indicates you promptly contact client services.
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. It is our organization’s primary mission to provide reviews, commentary, and analysis that are unbiased and objective.
Compare Broker Features
The tight spreads, tier 1 liquidity, rapid execution speeds and high leverage make it a truly great broker, condition wise. Beginners can benefit from the minimum deposit of just $10, making it a great platform to practice and learn on. The low rating and scam accusation for not being regulated is lazy.
Most Forex Brokers that use the MT4 trading platform, also give you the option to use a free Expert Advisor plugin, which automatically trades for you. If you are interested in seeing some popular trading apps, look here. Other than that, there are no inactivity fees, instrument or account-related commissions, or even deposit/withdrawal fees. This is yet another testament to how beneficial it is to trade with LimeFx.