LimeFx Review 2023 Is LimeFx Scam or Legit ️

We tested the multi-lingual LimeFx team by calling in varying languages. LimeFx made an effort to make sure that our questions were addressed. Understand the capabilities of the mobile apps of LimeFx, Startrader & freetrade below. LimeFx, as a business, has a strong collection of rules for ensuring fair trading on its own platform. For information encryption functions, it provides an industry-standard secure socket layer (SSL). 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.

When you transfer money into your trading account from the bank account, a deposit fee can be charged by the broker. Most brokers don’t charge an excessive amount of money for this particular operation. Even if no charges have been indicated by LimeFx, it’s better for you to close the account if you are inactive. Inactivity fees aren’t only charged by broker firms but also many financial services.

  • A decision about investing in a reliable company is very important for any type of trader whether novice or experienced.
  • Virtual funds offered are $10 000, which should be enough for beginners to master basic skills for trading.
  • LimeFx has a reputation for efficient and reliable fund transfers, and adhere to the rules of the financial regulators they are regulated with.
  • Interestingly enough, the website is properly translated to many of these nations’ official languages.
  • 👉 Using the MetaTrader 4 and 5 Android and iOS App, Nigerian mobile users can trade on the go.
  • Cryptocurrencies became very popular lately and LimeFx provides their traders with a number of cryptos to trade.

There are 27 different cryptos in total, with spreads starting from 0.001 for Tron/USD. While it is relatively cheap to trade your favorite cryptos on LimeFx, spreads on cryptos are always high and can increase to $12 per BTC for the BTC/USD pair. Safety starts with regulations and depending on how many regulators are overseeing the broker, we can determine how safe it is to hand our capital over to them. LimeFx is regulated by the Financial Services Authority (or FSA) in St. Vincent and the Grenadines. Regulated by any authority is already a big thing for Forex brokers, but having only one overseeing authority is still not enough.

Comparing LimeFx fees with other brokers

Reviewing LimeFx terms and conditions to understand the commission fees and any other charges that may apply is essential. LimeFx is a global trading platform in the sense that it operates
in 194 countries
including nations in
Africa, Asia, Oceania, and Europe. Major countries LimeFx covers include
the UK, Germany,
South Africa,
Thailand, the United States China limefx scam and Australia. All payments made to LimeFx by traders are securely held in a segregated bank account. When considering LimeFx for your trading activities, its financial regulatory status in your region is crucial. One of the primary considerations when evaluating a broker, such as LimeFx, is to assess the broker’s regulatory status and administrative body.

👉 As a multi-asset platform MT5 is an enhanced version of MT4 with the most up to current features. While MT4’s fundamental features and functionality have been preserved in MT5, new features and functionality have been added. Even though some safeties do exist, this unregulated broker is a fraudulent entity. These funding methods include Bank Cards (Visa, MasterCard), Bank Wire Transfers, E-Wallets (FasaPay, Neteller, PerfectMoney), as well as some Crypto Transfers (BTC, LTC, ETH, USDT).

Is LimeFx a con?

Our professional team is committed to finding innovative solutions and introducing new technologies so that LimeFx clients from all over the world could get the best trading conditions. Our experts take an active part in various industry conferences and events, where they discuss trends and prospects of financial markets. There are also mobile apps available for both Android and iOS users. 👉 LimeFx is an offshore broker that offers internet trading to customers worldwide.

LimeFx claim to be legally registered and authorized by the financial regulator of St. Vincent and the Grenadines to conduct broker-related business. This would all be nice and dandy if any part of it were true. Important to realize is that all bonuses are forbidden by ESMA rules and EU regulators. However,  the LimeFx broker doesn’t have a license from that institution. Not to mention rigorous regulations coming from the United States regulators. The best route to recover your stolen/lost money from the LimeFx scam is Scams Report Team.

LimeFx review

👉 The Financial Commission’s rulings on its members are conclusive. 🥇 LimeFx does not dominate the forex and CFD market in Nigeria, but the broker is part of the top 100 brokers for Nigerian traders. Overall, LimeFx is very competitive in terms of its trading fees and spreads. LimeFx is considered low-risk and is regulated by the FSA and has local offices in Nigeria.

LimeFx admits the importance of having a quick order execution. A quick implementation will allow users to trade without fretting about slippage safely. It is going to also help the dealers to catch any opportunities. We have scanned fees (typical spreads) that LimeFx charges when trading popular currency pairs, here is their breakdown in pips.

LimeFx Account Types

Visiting many broker websites, all of which have different language uses. Technical language and terminology can be confusing with brokers like LimeFx. Choosing or shortlisting a trading platform like LimeFx can be time consuming. Choosing a trading platform requires a significant amount of research and analysis. It can be challenging to understand each platform’s various features and benefits, especially with a complex trading platform like LimeFx.

Additionally, LimeFx provides regular market analysis reports, giving traders valuable insight into market trends and potential trading opportunities. For practical learning, the broker offers a demo account where beginners can practice trading in a risk-free environment. This combination of educational resources and practical tools makes LimeFx a solid choice for traders looking to expand their trading skills and knowledge. The international online broker has been running its project for more than 15 years, having founded the company in 2007. At the moment, the representative has dozens of offices in Europe, Asia, Latin America, the Middle East, Africa and the CIS countries. In addition, the broker is a member of the independent regulatory agency TFC, one of whose services is insurance of company members for up to 20 thousand euros per trade claim.

What is the minimum deposit for LimeFx?

👉 Overall, LimeFx is considered average risk, with an overall Trust Score of 72 out of 100. LimeFx is licensed by zero Tier-1 Regulators (high trust), zero Tier-2 Regulators (average trust), and one Tier-3 Regulator (low trust). LimeFx offers three different retail trading accounts namely a Fixed Account, Standard Account, ECN Account, and RAMM Account.

On investigating online about LimeFx Review we found that there are many negative LimeFx reviews and complaints on different broking forums. This is a red flag, for LimeFx broker can be possible scam/fraud. Your investments/funds may not be secured if you are trading with this broker. A decision about investing in a reliable company is very important for any type of trader whether novice or experienced. The Internet boom has given birth to a myriad of possibilities.

Even though those are virtual funds, you can test your strategy. But have in mind that virtual funds don’t present a realistic picture of trading. Most traders start losing money when they start investing real cash. That means, the broker is not regulated, not overseen and does not comply with strict international rules that provide protective measures to the traders. Therefore, it became an offshore zone for shady forex brokers such as CVC Markets, AAG Markets and more.

Consequently, you are charged more for non-trading actions on your trading account, like deposits and withdrawal. In general, LimeFx does not charge high fees compared to other online brokers. For operations other agents fee for, they do not charge a broker fee, or they charge a lesser amount. This can be beneficial for those who often trade, for example weekly or daily trading. LimeFx is an online broker platform, and many online brokerages charge lower prices than traditional brokerages tend to charge.