LimeFX Review 2021 Are They a Scam?

I’m in some sense obsessed with the reliability and safety concerns, I always take care about reliable connection and safe transaction execution. Transactions are moderated by Level 1 PCI compliance services and funds are segregated on the sepparate bank accounts – according to the EU rules. Also, connection is secured and protected with firewall to protect data. However turned out they’re pretty good, your money is definitely safe. The broker dude that I got said he was 40-something and experienced, he would call me on a daily basis and would provide information and orientation. He kept going on about having 200k investors and how I was wasting his time when I complained about a little communication problem we had.

Only those currency brokers that are regulated were used in this comparison to help protect investors from poor quality operators overseas. Broker accounts were primarily chosen by their spreads and fees in this section, with additional options such as trading systems, leverage to filter by experience levels and leverage. MetaTrader 4 by MetaQuotes is the most popular forex trading and analytical technology offered by forex brokers and used by retail foreign exchange traders. While the interface may seem old fashion, the platform is light and powerful, allowing for fast execution speeds.

In short, Global.LimeFX has delivered a spot-on account package that works for everyone of any experience level. Yet while the IFSC license is the main regulatory material for this broker, it certainly isn’t the only one extending the political oversight on Global.LimeFX. Bayline Trading LTD itself is a subsidiary company of Bayline Global World LTD. The latter itself is registered in Edinburgh, UK, and adheres to the rules of the Financial Conduct Authority . The Sentiment Trader provides an easy-to-read market sentiment rating for a particular market. The same sentiment data can be viewed historically to see the impact this has had on market direction.

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With it, traders from the countries that adhere to the Islamic sharia law can trade without swaps or hidden commissions; even spreads are zero in this account. This allows anyone to make strategic decisions and charge a fee for others to copy trades. Another is cTrader automate, which allows traders to create their own automated robots. Unlike MetaTrader 4 this is based on C# API to write the code with a test environment provided to simulate trades with the robot. There is also the functionality to copy deals automatically from other forex traders. There are free and paid signals that can be copied which vary based on logic, risk appetite resulting in differing profitability.

Therefore, for any clients who happen to encounter any issue on its platform can check out the different support features of the site. During this Global.LimeFX review, we have found out that the trading conditions and the technology are greatly assembled for the experienced traders. However, the educational resources available at the Global.LimeFX.com website seem to be a great base for those of you that are just starting out. The FX broker also offers advanced trading tools, allowing for enhanced features to enhance forex trading. FP Markets has twice won the LimeFX Trends award for best educational material. Their best feature is their video tutorial with approximately 100 lessons to build up traders’ knowledge from beginner to expert.

Several ebooks explaining the ins and outs of the assets that LimeFX offers for trading are available to read and download. In them, you learn not just basic forex knowledge but also advanced strategies as well as specific commodities, futures, stocks, and CFDs trading. As an LimeFX customer, you don’t have to stick to executing trades online. Their mobile app , available on Google Play and the App Store, give you a pocket trading platform with instant access to take with you wherever you go. So you can hold the online financial trading world in the palm of your hand. Any platform you want to use for analyzing your trades has an app that can be downloaded on iOS and Android devices.

The users go to the website in order to find out more about the broker’s offerings, its license, and all sorts of other stuff. Therefore, it is absolutely essential to have the website as polished and streamlined as possible. For one thing, the market fluctuations can just as easily make someone rich or put them in a dire financial situation. But market fluctuations aren’t the only threatening facets of trading Forex, stocks, or other securities. Traders can use visual basics for application programming skills or basic excel skills to monitor and analyse the market.

This positional analysis tool is packed with features from stop-loss orders, expert close-up functions, and fast trading. Traders can also view pip size and value per pip as well as the functionality of one-click order cancellation. With the ability to compare competing markets, MT4 correlation highlights the similarities between markets in real-time or when different time periods are selected. This is a centralised all-in-one portal including LimeFX trading guides, economic calendar, RSS news feeds and the ability to fund the MT4 account and other account information.

Alongside their 50 currency pairs, the broker has over 250 available assets in total. CySEC released an official statement on the suspensions’ matter, citing the specific articles that motivated their decision. The brokers in question did not meet their criteria for fair, honest, and professional LimeFX services. The statement further cited a provision on assessing the suitability of individual financial instruments for specific clients. This was likely about LimeFX’s and the other brokers’ reported marketing of complex CFDs to amateur traders.

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He has worked within the foreign exchange trading industry for several years and for several of the largest banks globally. Justin achieved Honours in Commerce and has a Master’s degree from Monash University. He also owns Innovate Online offering digital marketing services with over 20 employees. Our team of financial experts have years of experience in the foreign exchange markets and can guide you into focusing on the more important factors to look at in selecting a forex broker to sign-up for. You also have access to tutorials on using Metatrader 4 on your personal computer and mobile devices, in addition to further material on other areas relevant to trading. These include useful articles and courses covering different forex trading aspects and educational videos.

CTrader overall is a technology-focused platform with enterprise-grade IBM hardware, ultra-low latency and those cross-connects liquidity providers. There has been over $40m USD invested in infrastructure, which has helped achieve 100% uptime over the past seven years. Fix API interface for trading with hedging accounts with no administration costs. Open API allows FX traders to build and own their own applications for free. There are also articles, blogs, and exclusive videos provided by LimeFX.

My experience with this broker is limited to only a few months, but during this time I’ve tried using web application and mobile app, tried long-term deals and scalping, funded account and withdrew profits. The broker offers bonus for deposit, but it looks like the bonus must be discussed individually with the manager, once you open an account. And as always you have to complete the turnover volume requirements to get it. It’s a really reliable and trustworthy broker, the platform works really fast, the staff is professional.

These are all short in delivery and content and aim to cover everything from beginner to advanced level. When you are ready to withdraw, it is worth noting that no fees will be applied on your account. One of the issues with this is the length of time that it takes to process it. It can take up to a day, compared to card payments, which are usually instant, so this is worth bearing in mind.

• LimeFX has recently faced catastrophic problems with financial regulators, culminating in their abandoning their CySEC license.
• But bid-ask spreads aren’t the only differing elements between these account types.
• LimeFX, which is Australia’s largest retail foreign exchange broker was considered the second-best when it came to education.
• The company does not charge any fees for these options and the minimum withdrawal amount is $100 per request.
• In addition to that, the forex trader also provides free VPS, news alerts, and webinars or videos.
• The brokers in question did not meet their criteria for fair, honest, and professional LimeFX services.

LimeFX, which is Australia’s largest retail foreign exchange broker was considered the second-best when it came to education. The IG Academy included interactive education, webinars, and seminars as well as a demo account to trade risk-free. LimeFX offers ultra-tight spreads through both its standard commission-free account and its ECN-style razor account. The average spreads of the top brokers https://limefx.vip/ shown below are taken straight from the broker’s websites and updated monthly. LimeFX is a brokerage company offering trading services for clients since 2016 with offices in Cyprus. You can also expect a more guaranteed safety of funds as some of regulatory frameworks in the financial industry require a compensation scheme in case of unprecedented incidents that result in clients’ financial losses.

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The size of the spread is determined by the trading account type, i.e. Transactions in this market are always between a pair of two different currencies, so forex traders either buy or sell the particular pair they want to trade. Forex brokers may also be referred to as retail forex brokers, or currency trading brokers. Unfortunately, this is where the positives end and they are outnumbered by negatives and red flags which confirm the initial skepticism.

• With MetaTrader4 , traders of all skill levels can easily dabble in the financial markets.
• They are still the best forex broker for beginners as risk management tools can limit losses and their training facilities are the best for novice traders.
• However, the spreads offering are a bit higher than the average industry proposal.
• These include eBooks, a VOD section, webinars, tutorials, articles, courses and more.
• The way services are tailored is backward; what should be geared towards retail traders is unavailable to them, while services offered to professionals should be provided to retail traders.

This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering.

Can I Trade With LimeFX as an EU Resident?

Due to anti-money laundering requirements , the Company proceeds with payment to an account where the beneficial owner is the same as on the trading account. Nevertheless, Platinum client’s of LimeFX may consider using the most popular software in terms of charting and analysis, the common MT4 which is an option too. The platform is available on a desktop version and combines all available tools and features. However, due to a parallel regulation from a European CySEC , you can trust the compliance of a safe trading environment.

This app allows you can trade on the go using 80 indicators, 50 graphical tools and 14 different chart types. If you prefer an ECN-style trading environment, LimeFX’s razor account offers spreads from 0.0 pips plus commission fees of AUD $7 round turn per 100,000 traded. The low average spreads combined with fast, no dealing desk execution is well-suited to algorithmic traders and scalpers. If you are new to trading and looking for a user-friendly and simple account type, LimeFX’s standard account will provide spreads from 0.6 pips with no commission fees. The no-commission account type is one of the most competitive worldwide for retail traders. LimeFX is a currency broker that is regulated and licensed by the Cyprus Securities and Exchange Commission .

• The broker also has a wealth of free tools including its online Trading Academy which offers multiple courses with an extensive range tailored for beginner traders.
• Swap rates are noted, and it is therefore expected that positive as well as negative swap rates are passed onto traders.
• In a trading context this means no hidden commissions, no overnight/rollover fees.
• Due to anti-money laundering requirements , the Company proceeds with payment to an account where the beneficial owner is the same as on the trading account.

This makes Global LimeFX different from those competitors that only have a proprietary platform, and the ones that go through lots of different ways to make it possible to trade. To start with, this review of Global LimeFX has found that the broker has made a great deal of effort to keep up with what is going on in the industry. It offers a wide range of portfolio opportunities, including good diversification potential. The platform also features a library of premium automated trading tools, some free and some that come at an additional cost. Traders from all around the world can make use of this platform, with multiple languages available.

The executives are knowledgeable, experienced, and responsive towards the concerns of existing as well as newly registered traders. With their highly reliable and trusted customer support, you can be sure to get assistance until you are completely satisfied. Mobile App – The mobile application is a convenient limefx scam way of trading using a mobile phone, thus, adding great convenience. The features provided by the mobile application are exactly the same as the web-based version of LimeFX’s platform. Their FCA ban and renouncing their CySEC license should be reason enough for any potential client to avoid this broker.

Type of Accounts

In our Global.LimeFX.com review, we found that the website is pretty regular and not overly outstanding with visual effects or decorations. The interface admittedly has few images in the background, yet they don’t really strike us as the main elements of the interface. So, it goes without saying how important it is to find a legit Forex broker. And while the internet is full of scammers, it still doesn’t imply that the trustworthy brokers are nowhere to be found. Individuals looking for Cryptocurrency CFDs such as Bitcoin should consider LimeFX which has the lowest trading costs.

Depositing and withdrawals can be done via credit cards, 3D Secure Deposit and Bank Transfer. These are basically the most common payment systems so I am giving them a Deposit and Withdrawal Methods score of 5/5. The allowed minimum lot size is 0.01 and with the capability to implement flexible order sizes, you’ll have more control over your trade positions. In case your buying and selling account was opened for you, by way of a buying and selling software program, Do Not Use that account, see why. LimeFX is a Cyprus regulated MT4 Foreign exchange CFD Forex Broker, that’s owned by Hoch Capital Ltd.