Is Forex Trading A Scam? LimeFx Markets

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LimeFx scam
LimeFx scam

Also it seems that there are differences between hourly and daily charts which is pretty strange. It seems that short term charts look different to “help” traders making the wrong decision. Of course there are traders that are happy with LimeFx but there are not many of them. There was also a law suite against LimeFx a few years ago.

Why did LimeFx get banned?

LimeFx allows people to speculate on the foreign exchange market and provides trading in contract for difference (CFDs) on major indices and commodities such as gold and crude oil. It is based in London. The company was banned from United States markets for defrauding its customers.

LimeFx offers its many clients different types of accounts that will allow them to trade effectively according to their preferences. An account will allow you access to the online site of LimeFx and you will be able to view the various trading instruments and you can pick the one that you want to execute trades on. Among the different trading account types that LimeFx offers are the free trading station demo account and the standard trading account. Apart from the two main trading platforms offered by LimeFx, the broker has also provided access to third party trading platform such as ZuluTrade and NinjaTrader. The NinjaTrader platform on the other hand allow its users to trade options and futures together with forex with one trading platform.

Financial security on LimeFx

Take note that LimeFx customers are expected to set up tight access to the platform when an account is registered. If you are trading higher amounts like £500,000 regularly, strengthening the security level of the account is advised. So, go further to sign up for a virtual private server . ZuluTradeis software that allows traders to copy other traders peer to peer. Known as“Social Trading”ZuluTrade is supporting charting and analysis.

LimeFx scam

Furthermore, i used to trade from asia, so quite far from their servers at Equinix in NY/London and guess what… Was my execution speed slow, sluggish, unresponsive? It was the fastest order execution i ever had experienced.

Deposit fees and options

Active or high-volume traders can enjoy their benefits with various available interfaces, good and competitive value spreads, or offerings with advanced technical features. Besides all the benefits provided by this broker, we noticed that the range of instruments offered might be not enough for some traders, also the availability of certain assets depends on the entity. Also, for some entities, the minimum deposit might be high. On the negative side, which we think are not so many, there is a withdrawal fee for Bank Wire transfers in some regions and the support is not available on a 24/7 basis. Also, the broker might not be suitable for futures and options traders due to the lack of these assets. As of 2018, an estimated 13.9 million people traded forex worldwide.

How much is LimeFx withdrawal fee?

What is the cost to withdraw funds? There are no fees for withdrawals by credit card or debit card. A $40 withdrawal fee will be charged for all Bank Wire requests.

I also loved the platform, execution speed was alright. All in all they’re a good broker, but you can find better if you look around little. Thanks for sharing the two names though I wish you would have published your results with them somewhere.

Mobile Platform

In my experience not a bad broker….I do currently trade with LimeFx due to the smaller pip spread on the eurusd pair. The one thing I do miss about trading with LimeFx is the ability to trade in or around news time without the spread widening much. Also, institutional investors, retail brokers, emerging market banks and hedge funds can take advantage of LimeFx Pro. This high-end broking service gives institutional clients excellent pricing and access to the forex and CFD markets. After you have chosen your country of residence and preferred trading platform, you can click on the “Begin Application” button. By doing so will bring you to another page that is secured.

Réka attended the International Business and Economics bachelor program at Corvinus University in Budapest. She’s eager to help investors find the best LimeFx providers, through writing extensive reviews. On a more personal level she wants to develop her skills and grow professionally on this field. Furthermore their so called specialized in house trades who run webinars provide misleading information to their clients when to buy and sell. LimeFx business does not operate ethical and moral to their clients, they are in it for themselves. Soon after you make some profit you`ll notice yours stop-losses being crossed by one, two pips – price never reached same levels compare with charts from another broker.

  • It also has almost as many charting and drawing tools as the desktop version, and a clean, intuitive interface.
  • The trading experience at LimeFx for our traders is a top priority for us which is why we are very transparent with the monthly data release.
  • The trading fees are always depending on the trading instrument and financial product.
  • The learning portal offers an extensive forex education and board tutorials.

This website is using a security service to protect itself from online attacks. The action you just performed triggered the security solution. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. Let our chargeback experts provide you with free instructions on how to recover funds at your bank. If you have experienced the following with LimeFx , it’s more than likely that you have been tricked or are involved in a scam.

Who does LimeFx appeal to?

Labeled Verified, they’re about genuine experiences. Thank you wholeheartedly for the amazing review, FMO-ST! As we strive to excel in our industry, we are honored to have clients like you. If there is anything more for which you may require our assistance, don’t hesitate to contact us. Thank you for taking the time to review us, Sid Chaudhari!

The minimum trade size available with LimeFx is a micro lot size of 1k and the minimum deposit required to open a live mini account is £50 or $50 depending on your account currency denomination. We have to take the necessary steps to protect clients and ensure our account opening procedure is in accordance with regulatory requirements. The satisfaction of our clients is very important to us. The fact that our team takes so much time from tech support, through trade audit investigation, and participation on the forum is evidence of this. We would not have become a leading global forex and CFD broker with over 128,000 active accounts as of May 2017 without providing quality execution in a fair and transparent trading environment.

LimeFx vs. LimeFx: Which is Best for You? • Benzinga – Benzinga

LimeFx vs. LimeFx: Which is Best for You? • Benzinga.

Posted: Mon, 12 Oct 2020 16:04:52 GMT [source]

Unfortunately, the market scanner only works for a limited number of products. This happened because LimeFx had a relationship with an important market maker at the time. This concealed relationship led to a conflict of interest between LimeFx and its users, limefx which resulted in users losing money. The prices and fees are well below average and there are discounts for high-volume trading. Overall, we ranked LimeFx Deposits and Withdrawals 8 out of 10. For some entities, the minimum deposit is quite low.

Is LimeFx reliable or a scam?

LimeFx is a reputable broker that has been on the market since 1999. The platform offers traders low spreads and covers more than 100 different markets. There are lots of tools and practice trades on the demo with free unlimited access. The funds of the investors and customers are placed in a separate bank account that is restricted from the business creditors in case it runs at a loss. The eligible compensation fee in some specific conditions is up to £85,000.

Their Micro Account is amazing and allows clients with smaller banks to test and tweak their strategy on low stakes. I have tried other LimeFxpanies but will now only trade with LimeFx. I find their trading platform easy to use and have never had a bad experience. I have always been treated with respect and courtesy would recommend them 100% to new traders. This Fake LimeFx was registered in the United Kingdome, and it was not established long, with an operating time of 2-5 years. This fake LimeFx boasts that it provides four trading accounts to choose, its minimum deposit requirement, however, is as high as $2,000.

It goes against our guidelines to offer incentives for reviews. We also ensure all reviews are published without moderation. We use dedicated people and clever technology to safeguard our platform. Companies can ask for reviews via automatic invitations.

I am about to increase my level of LimeFx with this broker as I know my funds are safe with the largest FX Broker on the planet. After several years of trading on the platform of this broker, I can confidently say that I recommen… See also LimeFx reviews and share your impressions of this broker. There limefx broker reviews are several trading software options to choose from, including the Trading Station and Ninja Trader, which boast great innovation and functionality available for the web, computers and mobile devices. Spot opportunities, trade and manage your positions from a full suite of mobile and tablet apps.

LimeFx scam

In addition, LimeFx only uses regulated payment methods for the fund of clients. We know it’s hard to compare trading fees for forex brokers. So how did we approach the problem of making their fees clear and comparable? We compare brokers by calculating all the fees of a typical trade for selected products. Historically, scams are no stranger to the financial markets. Activities such as insider trading, crypto hacking and ponzi schemes often gain widespread attention, prompting public distrust.

The services offered by LimeFx cater to both novices and experienced traders. 78.58% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. With these factors, a forex trading platform will be able to provide successful trading services to all its clients across the globe.

LimeFx features a robust platform that supports all kinds of trading formats and account levels. Additionally, it comes with a steady educational portal that concentrates on semi-skilled customers. However, the research portal is less comprehensive, doesn’t have webinars, necessary analyst study, and videos. Bottom line trading expenses are hard to evaluate from website documentation. That generates transparency issues for active trader and standard accounts. The shortage of comprehensive disclosure will benefit from several real-world illustrations and detailed side-by-side cost evaluation.

In May 2010, LimeFx, Inc. purchased the UK-based, ODL Group. LimeFx had previously acquired ODL’s U.S. business in January 2009. The 2010 acquisition made LimeFx the largest retail forex broker in the world with over 200,000 clients and assets of around $800 million.

MT4 is also the ‘go to’ platform for traders looking to use their own models to trade the markets using algorithmic programs. The Expert Advisors section of the site provides support wizards and advice for the curious, enabling traders to optimise their strategies. MetaTrader4 is the most popular trading platform in the world and boasts millions of users.

Can LimeFx be trusted?

LimeFx is regulated in three tier-1 jurisdictions, making it a safe broker (low-risk) for trading forex and CFDs. In our testing, LimeFx earned Best in Class (top 7) for its Platforms and Tools, Professional Trading, Algorithmic Trading and Social Copy Trading.