LimeFx forex brokers reviews: LimeFx Review 2023 Detailed Information about LimeFx Forex Broker - The Patriot Group

LimeFx is a highly regulated broker that is overseen by several top-tier authorities, such as the FCA in the UK, Cysec in Cyprus and ASIC in Australia. Clients trading with LimeFx’s FCA and CySec-regulated entities are entitled to investor protection. In addition, LimeFx provides private insurance to its customers accepted under these three regulators. Client’s cash funds deposited into their LimeFx account are held in regulated and licensed US banks and are FDIC-insured up to $250,000.

Yes, LimeFx supports sending or receiving crytpo to and from other wallets, provided they are supported by the LimeFx Wallet and in line with the applicable Terms and Conditions. I suspect they will just pocket all the deposit since 75% user are making losses with them. When u made profit, they will try to block you to withdraw your money even if your account is verified. If you ever publicly complain about their service, they may block your right to post permanently, and told you it is a technical problem they are trying to fix. If you try to introduce others to another platform, they will just flag your comment as spam and then remove it. E Toro is a member of a compensation scheme that will come through to sort out the clients in case of the rare occurrence of the company’s liquidation.

FAQs are genuinely helpful, but they don’t always articulate the message effectively and traders need to ask questions of their trading platform. In this day and age, 24/7 customer service is almost expected, and many small brokers offer such service. That’s why we were so disappointed that during our review of LimeFx, we found a customer service that did not match a broker of such size and notoriety. During our review of LimeFx, we were pleased to see a simple account set up.

For example, on March 30, 2020 LimeFx added 185 new stocks, among them a very trending one, Zoom Technologies. However, if you had to wait for LimeFx to add the stock, you missed the early rally in the stock. LimeFx’s mobile platform is well-designed, intuitive and considered safe thanks to the two-step and biometric login functions. Type in a company or product name and you can see the results.

There is nothing inherently wrong with offering any nominal amount in a demo account, but I feel it would be more considerate to newer traders to use a lower figure as a starting balance. LimeFx actually makes money by taking the difference between bid and ask prices. This practice is a typical way for brokers to price trades and collect fees, even if a platform notes fee-free or commission-free trading. LimeFx makes it easy to search for and transact ETF and stock trades.

CFD trading offer

LimeFx provides expanded trading strategies and a certain way of dealing with markets and traders that gained a reliable and respected reputation. Upon confirmation, you will receive a notification about the withdrawal request along with updated statuses in your email. The broker will process the withdrawal transaction request within a few business days. In addition, you should allow your payment provider to process funds into your account, which also takes a few days and depends on international laws or requirements. We found that the money management and funding methods at LimeFx are quick and simple, which is very pleasant and important for your account management convenience. LimeFx withdrawal options offer popular bank transfers, credit cards, and some electronic wallets.

Founded in Israel back in 2007, LimeFx has quickly become one of the most recognised CFD brokers in the world. Most famous for bringing copy trading to a mainstream market, the company has been valued at more than $2.5 billion. StockBrokers.com is committed to the highest ethical standards and reviews services independently. Understand how CFDs work, and whether you can afford to take the high risk of losing your money.

LimeFx Review 2023: Pros & Cons

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange, or any kind of trading you should carefully consider your LimeFx objectives, level of experience, and risk appetite. No information or opinion contained on this site should be taken as a solicitation or offer to buy or sell any currency, equity or other financial instruments or services. Past performance is no indication or guarantee of future performance. ForexFraud.com is an affiliate partner with various brokers and may be compensated for referred Traders.

All-in-all, the platform is simple enough that even a complete beginner can start investing right away. The deposit process is fast, and the search menu is so intuitive that you https://limefx.biz/ will find the assets you want to invest in straight away. LimeFx’s Smart Portfolios, formerly known as CopyPortfolio, are curated collections of assets that you can invest in.

Mobile Trading Platform

It looked like I was scalping although I was just inexperienced. Has collected multiple awards for its innovative platform and has received worldwide recognition as a financial technology industry leader. Will receive the services of a dedicated Customer Success Agent. One drawback is that there is a limited selection of fundamental data available on the platform. And is an unfiltered list of trading ideas and accompanying graphs. Be aware that this analysis is community-created content and should be viewed with deep skepticism.

When you are following someone, you will see all trades separately. However, fees are not added up, but listed individually by fee deduction. We also compared LimeFx’s fees with those of two similar brokers we selected, Trading 212 and XTB. This selection is based on objective factors such as products offered, client profile, fee structure, etc.

Overnight Fee

We believe everyone should be able to make financial decisions with confidence. LimeFx is regulated by CySEC in Cyprus, ASIC in Australia, and the FCA in the UK. LimeFx is not listed on any stock exchange, nor does it publish its financial data. Overall, BrokerChooser’s view is that while LimeFx is not a scam, it is not a fully transparent broker either.

To access the demo account, the trader logs into the account. Next, the trader clicks virtual portfolio and confirms the selection. The LimeFx demo account looks identical to the LimeFx standard account. The only difference lime fx is that traders start with a $100,000 balance in virtual funds. This section allows the trader to screen for different traders on the platform using country of origin, markets traded, percentage gains, and time frame.

Their trades are then automatically copied until you decide to stop. Idil is a writer with interests ranging from arts and politics to history and finance. She spent several years in publishing before becoming a full-time writer, and learning the inner workings of an industry she loved ignited her interest in economics. As an English graduate, she cultivated valuable research and storytelling abilities that she now applies to make complex matters accessible and understandable to many.

LimeFx is a great option for highly experienced, successful retail traders who would be interested in sharing their ideas in lieu of rewards. There is no deposit fee charged, while withdrawal requests are subject to a withdrawal processing fee. $30+ withdrawal amount will be charged a withdrawal fee of $5.

While there are many payment methods available, it has to be stressed that LimeFx only offers one base currency for trading – USD. Because of this, any transaction using a different currency will incur a conversion fee. Our review of LimeFx confirmed 14 accepted currencies that can be converted to USD including GBP, EUR, AUD, SEK, and RMB. The mobile trading app is available for both iOS and Android devices and offers the same functionality as the web trader.

Since its launch, LimeFx has gone on a path of innovation, creation, and introduction of features that moved LimeFx technology and online trading to a new level. In fact, nowadays the parent company became the largest and one of the most popular brokers for copy trading and Social Trading, including US Trading LimeFx company. I like the range of deposit and withdrawal methods at LimeFx but dislike the unnecessary internal $5 withdrawal cost. Traders will also pay third-party processor costs and potential currency conversion fees. The withdrawal process follows well-established industry practices. I like that LimeFx treats all retail traders to the same account type.

If he cannot afford to take the risks involved, he should refrain from investing too much of his funds. What drives investors towards CFDs is the lucrative results one may get if there is a favorable movement. A favorable movement results in multiple times of units one has already sold or purchased. In the same way, if the market movement is not in your favor, for in every downwards move, the user faces losses.

You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. We may receive compensation when you click on links to products we review. In addition to the CFDs, LimeFx also offers crypto trading to its user base. Although, opening short or sell positions on the platform still involve the CFD position. Not many best forex brokers in the market cover these copy features. LimeFx started in 2007, much before the entry of cryptocurrency.

• The minimum deposit amount to trade when copying another trader is significantly higher, at $200.
• The addition of the CopyTrader is also a nice touch that can help increase the more inexperienced trader’s chance of turning a profit.
• LimeFx has transformed trading into the simplest, most intuitive experience a trader can have!
• You can access LimeFx’s multi-crypto wallet via its browser-based web platform and on your iOS or Android mobile device.

Placement through LimeFx has been made easy, although the offer is very wide from side to side. The global multi-asset trading platform LimeFx has signed a new partnership with the Ultimate Fighting Championship , the world’s premier mixed martial arts organization. According to a six-month agreement that starts with the UFC 243 event and will take place in Australia and New Zealand, LimeFx will perform the duties of the official online trading… We learned that limefx broker reviews LimeFx charges an inactivity fee, if you do not trade in 12 consecutive months, a $10 monthly inactivity fee will be charged on any remaining available balance. There are no account charges if you remain active, also additional costs will be charged as deposit fees and withdrawal fees. Eventually, our LimeFx Review found that the broker holds awards such as Best Broker for Cryptos, Best Broker for Social Trading and many more “best” titles are in its list.

Traders can join the LimeFx community and feel a part of a group through the platforms social trading, access ready-made portfolios through CopyPortfolios, along with accessing data from CopyTraders. However, there are no third-party alternatives offered, such as MetaTrader which can be a big disappointment for many. As a pioneer of copy trading, users are able to not just follow — but actually copy — the trades of those with a proven track record. While advanced traders may find some of LimeFx’s functionalities underwhelming, the platform is still appealing to investors with varying levels of experience. Particularly, its interactive nature is one of its greatest assets and speaks to a very particular audience.

During our LimeFx review of the fee structure, we confirmed overnight fees for all instruments. These fees are all quite small, variable, and are a reflection of supply and demand. New investors should pay close attention to fees regarding stocks and ETFs, as it is possible to actually buy the underlying asset or trade these products as purely as CFDs. LimeFx offers a unique and easy-to-navigate social trading platform that is strongest in cryptocurrencies, where 26 coins are on offer. LimeFx customer support has garnered opinions over the years – many users find it decent, although there is room for improvement in some areas. The Help Center has a live chat feature that allows users to quickly access customer service.