Is LimeFx a Scam? Detailed LimeFx Review Updated 2023

And this is only part of what the broker is ready to offer you with almost twenty years of experience. Deposits and withdrawals are where LimeFx International shines. It could be the broker with the most supported payment processors, which supports its market-leadership position in emerging and frontier markets. LimeFx International does not charge deposit fees, and most payment processors feature instant execution. Some withdrawals face internal costs, while third-party processing charges may also apply.

LimeFx incurs different commissions for deposits and withdrawals depending on the method of payment selected by the client. The details of available funding and withdrawal https://limefx.name/ methods at LimeFx are discussed below. We liked the variation in the account types as every type of trader can have a suitable account type at LimeFx.

Trading Platform

Many modern trading platforms offer withdrawal of your trading account balance to digital wallets and direct bank transfers. Depending on your geo region certain withdrawal methods may be more convenient to you. Each withdrawal method has its own withdrawal time which you will have to check before withdrawing your LimeFx account balance. LimeFx may have minimum withdrawal limits that you will need to check before withdrawing. Online trading on trading platforms like LimeFx have seen huge growth in the last 3 years. Trading with LimeFx requires that you take the time to learn how financial markets work and are able to trade with LimeFx using in depth technical analysis and LimeFx risk management trading tools.

You can trade a wide variety of instruments with LimeFx
over 50 instruments in fact. This means LimeFx are supervised by and is checked for conduct by the Financial Services Authority (FSA) Saint Vincent and the Grenadines regulatory bodies. You’ll discover the clean design of this platform along with the commendable features that are pleasant to work with. The LimeFx phone support team were able to successfully address our questions and concerns via phone.

The Best Forex Brokers

The support is available 24/5 and there are email, hotline, and online form methods offered in addition to the live chats. All in all, we were very impressed by the support quality of this broker. LimeFx is a regulated broker that has been around for more than 20 years they seem very legit and reliable. The broker is authorized and regulated by the Financial Services Commission of Mauritius (FSC). Although this regulator is offshore and not as strict as other reputable ones it still offers a basic safety feeling for investors and LimeFx has been on the market for a long time.

• The task becomes even more daunting when considering the vast number of online brokers like LimeFx available, each with unique features, fees, and regulations.
• This type of arrangement ensures that the risk of clients’ funds mismanagement is eliminated.
• 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.
• Any processing fees from your bank might need to be incurred by you.

Over the past 8 years, LimeFx has become one of the leading online brokers available to the public. Please note that due to regulations, the content in this review of LimeFx does not apply to users in Brazil, Republic of Korea, Iran, Iraq, Syrian Arab Republic, Japan, and United States of America. The Standard Account, the Micro Account, ECN Account, and the ECN Pro Account. The review will introduce you to the brokerage as an already recognized legitimate company, but with an emphasis on comparison and cost-effectiveness. Additionally, LimeFx is offering commission-based pricing on its PRO ECN MetaTrader 4 account.

LimeFx International offers a short educational section which will be very useful for beginners with little experience trading. Unfortunately, there are no video tutorials or webinars limefx broker reviews on offer at the moment, although LimeFx dedicates a page on its website to webinars. MT4 and MT5 are freely available on both Android and IOS mobile phones and tablets.

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LimeFx CFD trading on cryptocurrency assets is not allowed in the United Kingdom as set by the UKs financial regulator the FCA. Check to see if LimeFx CFD cryptocurrency trading is allowed in your region and make sure you undertand the risks fully before trading. LimeFx is a reliable platform that can be considered trustworthy due to its strict regulatory practices.

Nevertheless, we can recommend LimeFx as a trustable broker to trade with. LimeFx deposit fees are 0$ for some of the payments, including 0% fee for Cryptocurrencies like Ethereum, Litecoin and Zcash. LimeFx provides various withdrawal options, however additional payment methods may incur additional charges and depend on the provider and region you sending from. Apart from these, if a trader still has queries relating to crypto trading, the exchange resolves all the queries effectively. It has a double AA support rating and an excellent reputation for providing customer services. The customer support team is located in Mauritius and is fully functional from Monday to Friday.

#2: Avoid unnecessary mental time travel

Contracts for Difference (‘CFDs’) are complex financial products and not suitable for all investors. CFDs, are leveraged products that mature when you choose to close an existing open position. By investing in CFDs, you assume a high level of risk and can result limefx review in the loss of all of your invested capital. With both MT4 and MT5 on offer,  LimeFx’s platform support is average compared to other Forex brokers. LimeFx offers a limited number of base currencies compared to its competitors, but it offers NGN accounts.

The FSC or Financial Services Commission in Mauritius offers regulatory supervision of the Exinity Group Ltd., the parent company of the LimeFx International cryptocurrency trading exchange. It received its license back in 2013 and has been able to maintain a clean regulatory status since then. Client funds remain secure and segregated from corporate funds. The 1000 to 1 leverage amount reduces as the notional size of the open position increases. If the notional value touches $8 million, the leverage amount falls to a minimum level of 25 to 1. If traders plan on trading individual stocks and cryptocurrencies, the maximum leverage becomes less due to regulatory rules.

The LimeFx trading platform is equipped with a powerful backtesting and analytical engine. The LimeFx platform also offers a wide range of trading tools, including a customizable charting package, a customizable workspace, and a customizable dashboard. The platform offers a variety of trading tools, including a customizable charting package, a customizable workspace, and a customizable dashboard. LimeFx offers virtually no trading tools to help traders make better decisions, however, it offers a copy trading service. The benefit of brokers offering third-party platforms such as MT4 and MT5 is that traders can use the platforms should they choose to migrate to another broker. However, MT4 and MT5 are often not as user-friendly as platforms that are developed in-house.

Some LimeFx research tools include charts, technical analysis, and LimeFx trading indicators. LimeFx stock traders look to profit from the short-term market developments by selling stocks for a profit or buying stocks at a cheap price on LimeFx. Stock traders on LimeFx conduct significant study, frequently dedicating several hours every day to market monitoring using LimeFx trading tools. Investors can log in to their LimeFx trading account, type in their credit card information and the funds required will be
posted in a number of business days. Investors can also transfer funds into their LimeFx trading accounts from an existing
bank account or send the funds through a wire transfer or online check.

LimeFx Forex Trading

The ‘LimeFx invest’ app is an Android and iOS app that was designed by LimeFx to help investors to manage their LimeFx portfolios. For those of you who need managed accounts, LimeFx are worth considering as alternatives. LimeFx creates an opportunity for you to bring in your funds for money managers to trade on your behalf.

This includes the standard bank transfer and card payments you would expect from most brokers along with a variety of digital wallets. I personally prefer using eWallets as I can get quicker access to my funds which is important if I need to act fast on some market news. LimeFx provides you with a variety of trading accounts to choose from. If you’re looking to trade on other platforms, I recommend checking out our best trading platforms list. LimeFx offers you forex and CFD trading on the MetaTrader platforms.

• If you’re interested in comparing LimeFx against other popular brokers in the industry, check out our LimeFx Vs pages.
• Each live account type can be opened with Naira as base currency which is a major advantage for traders in Nigeria.
• Getting into the area of online trading demands expert assessing skills and thorough understanding.
• LimeFx International is a leading Forex broker, established in 1998 by 3 co-founders in Russia.

Their duties include performing research or analysis on a currency pair using a trading platform like LimeFx. In general, Forex traders can either work for banks and hedge funds or trade independently using trading platforms like LimeFx. Some traders use charts and indicators for Forex analysis, while others rely on news and economic data available on LimeFx. When you practise on a LimeFx demo account, one of the many advantages you’ll enjoy is the opportunity to get acquainted with the more technical parts of the LimeFx platform. LimeFx demo accounts allow you to experience and practice a variety of market charts, LimeFx trading indicators, and trading strategies using LimeFx. Millions of people worldwide use Android mobile devices and tablets, and LimeFx offers its clients access to the MetaTrader 4 platform on these devices.

LimeFx customers have instant access to the financial market and can completely manage a Portfolio on the go. LimeFx is one of the few brokers that offer both of the MetaTrader platforms; MT4 and MT5. To see how the two platforms compare, you can read our comparison of MT4 vs MT5 here. A financial asset is any security or asset that has financial value attached, tangible or intangible. We aim to provide you with all the information in this LimeFx review you need to determine if LimeFx is the right fit for you.

The broker was previously regulated by top-tier FCA but the regulatory license was revoked after facing heavy losses on trading Swiss francs against the Euro. Currently, it is only regulated by one Offshore regulatory authority. We have covered each benefit and limitation of the broker, specifically for the Nigerian clients. LimeFx International neither provides in-house research nor does it source research from third-parties; market commentary on a company blog is equally unavailable. The absence of this service allows most competitors to pull ahead of this broker when it comes to value-added services.

Following is the description of trading fees at LimeFx for each account type. LimeFx International offers a refer-a-friend promotion, which also extends to family. High-frequency traders will benefit from the LimeFx Cashback Program, which lowers the overall trading costs. Traders receive the payouts weekly, and there are no points, vouchers, or discounts. It remains one of the most straightforward and fair reward programs.