Is LimeFxFX a Scam? Detailed LimeFxFX Review Updated 2023

With that being said, it still does not mean that LimeFxFX is the best option, as there are also hundreds of other regulated brokers with similar or even better trading conditions. Yes, LimeFxFX has a mobile application, so traders and investors can quickly get the advantage of working on the trades and positions from the comfort of their phones only. We would say from our experience that this broker has its license so you can use deposits or assets in this market. LimeFxFX has long been involved in investing and it is directly regulated by the government. Still, we don’t recommend you open trades without careful analysis and applying tactics to reduce the risk.

A great user experience is crucial for every trading platform to build and maintain their customer’s trust. From our experience, the broker is doing a pretty bad-ass job at it. If you take a deeper look at the reviews, you will often find in-depth replies to the comments, not just templates.

For example, the «minimum expertise» field lets you choose between newer systems, all the way up to those with legend status. I was also pleased to see a risk score assigned to each trader, to help users differentiate between traders with historically conservative results versus those that have had more volatility and risk. It would be useful to be able to sort the columns from highest to lowest, but that feature is not yet available when looking at the Master Rating results page. LimeFxFX does have a proprietary app for social copy trading (the LimeFxFX Copytrading app), yet it still trails behind industry leaders such as IG and Saxo Bank. For our top picks among trading apps, read our guide to Best Forex Trading Apps. Easy deposit and easy withdrawal, those the company is harsh on secret spread.

  • Although variable spreads are offered in these trade markets, a higher spread may be transmitted depending on the number of customers.
  • People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active.
  • LimeFxFX customer service supports multiple languages from all over the world.
  • Now, leaving their orders open overnight, traders won’t be obliged to pay overnight fees.

Having said that though, LimeFxFX does offer their traders negative balance protection. This will help ease the fear of traders as it means that they will never lose more than they have deposited into their accounts. Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets.

Benefits of Trading with LimeFxFX

Forex trading is becoming popular in Malaysia, but there are several factors that new investors should be aware of. It’s important to stay safe when entering financial markets, and this can be achieved by choosing a trustworthy broker. Yes, LimeFxFX comes with licenses from several regulatory authorities.

You are also likely to incur some other trading fees based on the account that you have. Of course, these are not the minimum spreads that you will sometimes see being quoted. You can see a complete list of the spreads that are applied to the different assets on their spreads page. Something else that LimeFxFX does that helps protect clients is their use of segregated funds.

LimeFxFX also organizes an international demo contest each month in which it allows clients from all over the world to compete through virtual currency in forex trades. It also has a referral program in which clients are rewarded for each successful referral. Following are the tools that can assist traders in the research and analysis of the forex and CFD market. LimeFxFX does not have a local Nigerian phone number for customer support which is a major drawback for Nigerian traders. Check out every pros and cons that can possibly affect your trading experience at LimeFxFX in Nigeria. However, because the broker is regulated by the CySec and SVGFSA, there is a high chance that it is not a scam.

  • Fee table see below, also always consider other than trading fees like funding fees and inactivity.
  • However, if a market order is not fulfilled, no commission fee is usually charged.
  • These are perhaps one of the most downloaded trading apps in the world and have been perfectly honed over the years.
  • You should take the security of your personal information seriously and check SSL encryption is enabled on the LimeFxFX trading platform to protect you on PC and mobile LimeFxFX platforms.

This CFD trade has a 100% increase in the funds initially committed. Below we give an overview of the account types that LimeFxFX offer. Whatever you are looking to trade, the varying
LimeFxFX account types will be able to provide you with what you need. LimeFxFX Autochartist is a valuable tool for traders who want to stay ahead of the curve and identify trading opportunities quickly and easily. With its powerful features and easy-to-use interface, Autochartist is an essential tool for LimeFxFX traders of all experience levels. Trading Centrals Alpha Generation Indicators can help LimeFxFX traders better understand market trends and patterns, enabling them to make more informed trading decisions.

What are Tier 1 banks and why should LimeFxFX use them?

The unavailability of a Naira (NGN) trading account is a drawback for Nigerian traders. LimeFxFX is worthy of investment, and there are various reasons to believe so. First, it was founded in 2011 and offered excellent opportunities to traders and investors so they could efficiently work on the trades.

SCARIEST NIGHT OF OUR LIVES! (Exclusive Look at Halloween Horror Nights has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. Brokers occasionally make mistakes, despite the fact that traders may blame them for their losses. Before opening an account, a trader must be diligent and thoroughly investigate potential brokers. If the research supports the broker, a small deposit should be made, followed by a few trades, and then a withdrawal. Depending on which of LimeFxFX’s organizations is in charge of regulating your account, different spread prices apply.

Is it safe to trade forex at LimeFxFX?

If you are going to be making a local bank payment then there are three options at your disposal. These are either through an online transfer, with an ATM or via a standard deposit at your bank account. We were quite impressed with the selection of online and computer-based trading platforms at LimeFxFX. When trading at a broker with leverage, one of the most important factors to consider is the asset spreads as well as any other fees that may apply.

Is my money safe with LimeFxFX?

Over 80% of all the reviews in the Google play store are 5-star reviews. The platform also has a much more functional trading interface which allows for a high degree of customisation. For example, you have up to 28 chart timeframes and you can create and save these chart templates. However, there are a range of different features that are have been packed into the MT5 platform. These include things such as market depth charts as well as an economic calendar right there on the platform. As you would most likely have guessed, this is the latest generation trading software that has been developed by MetaQuotes.

This hands-on experience can help you gain confidence and become more comfortable with trading. The effect of leverage on profits and losses magnifies them in both directions. In other words, LimeFxFX leverage profits and losses are magnified when trading. For instance, using CFDs, you use the LimeFxFX trading platform to buy/sell $10,000 worth of Apple Computer Inc. If the stock rises by 10% due to positive results, your position is now worth $11,000, representing a $1,000 or 10% increase in value.

To get the most out of this functionality you will probably want to download cTrader to your PC although it can be used in a browser or traded through your mobile phone. Finally, if you would prefer to automate your trading strategy then you can use the cTrader limefx review automate which will help you develop custom robots. You have extensive back-testing capability with this suite of programming tools. If you are a heavy technical analyst then you can create your own charting indicators through the cTrader developer network.

The LimeFxFX MetaTrader 4 trading platform has advanced tools that enhance the overall trading experience and give LimeFxFX traders detailed market tools. In the trading world, brokers like LimeFxFX, have different minimum deposit requirements based on the target audience they are trying to attract. Brokers with lower minimum deposit requirements typically cater to a more mainstream audience who don’t require advanced research tools or features.

As part of our LimeFxFX review, we review customer service options, response times and problem resolution effectiveness on the LimeFxFX trading platform. The LimeFxFX trading platform supports a limited number of languages which includes English. When using LimeFxFX, the minimum trade size is typically 0.01 Lot units of the base currency of the instrument being traded. However, this amount may vary based on the specific account a user has opened.