LimeFX Review 2022 Unregulated broker with limited instruments

Use at your own risk, but do so with any broker as regulators don’t care about retail traders. LimeFX offers a free demo account to all its users with unlimited access. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information.

All market hours provided therein are in GMT+3, but the LimeFX provides a useful time zone converter link in their FAQs section, which users can use to time their trading accordingly. There is a very high degree of risk involved in trading securities. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.Learn more at Wikipedia. When you first start using the broker, you need to make a minimum deposit of 10 GBP/USD as soon as you open your trading account. This fee is important as most brokers have a minimum withdrawal fee.

  • What’s even better is that you can get support in multiple languages.
  • If your account hits zero and starts to go into negative balance, negative balance protection will automatically close out the position and saves you from too grave losses.
  • Movements in the price of foreign exchange and commodities are very unpredictable, hence LimeFX cannot guarantee a maximum loss that a trader may suffer.
  • Trading straight from inside of the charts is an option, and end-users will have access to plenty of technical indicators to select.

Therefore, it would be dangerous to use a company that exists in said jurisdiction. Join thousands of people who choose to trade with us, enjoying over 100 instruments including 24/7 trading of Digital Assets. First off, we tried to determine how reliable LimeFX really is. And while we found out that it doesn’t feature a governmental regulation, the broker does protect your trading security with multiple fund safety measures. The two primary commission types you’ll get with LimeFX are spreads and round turn lot fees. As we’ve discovered in the FAQ section, LimeFX charges spreads that go as low as 0.1 pips, whereas the average markups revolve around 0.3 pips, which is still quite affordable.

The lack of deposit and withdrawal fees is excellent, and the customer service team was found to be above average. A consideration of all of these advantages may very well help traders see beyond any regulatory concerns and begin trading with LimeFX. There are also no charges assessed on dormant accounts, nor any other types of costs that one should be aware of. Even though the commission fees are a touch above the industry average, most will gladly accept this charge when trading with a stellar broker that meets and exceeds their needs. After setting up and using a demo for the start to try out there services and trade executions, every thing was good and customer service was nice.

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Trading in CFDs carry a high level of risk thus may not be appropriate for all investors. I opened an account with this broker about two years ago after practicing on a demo for a while. I’ve also made a couple withdrawals, and each time the monies were available within 20 minutes. All reviews represent only their author’s opinion, which is not necessarily based on the real facts. Therefore, it would always be ideal to check your email or to contact the broker’s Live Chat that is available 24/7, should you have any pending withdrawals. Movements in the price of foreign exchange and commodities are very unpredictable, hence LimeFX cannot guarantee a maximum loss that a trader may suffer.

Support is available from LimeFX on a 24/7 basis and is available in the form of live chat, phone, and email via a ticket support system. When tested, we found a live chat agent was helpful, picking up our request to chat immediately and responding to all questions with the requested limefx reviews information. The email support team responded with similarly useful answers in under fifteen minutes. Our request for a callback took a bit longer , but once again, the broker courteous and helpful. This is higher than other brokers of a similar level in the industry.

In addition, LimeFX also offers competitive trading conditions. However, despite this, a drawback is that LimeFX is not regulated by any known entities. The broker provides a comprehensive and searchable FAQ area, but if any information you don’t find there, you can contact with the broker.

LimeFX forex brokers reviews

Commission fees usually apply on LimeFX, and you need to be aware of that when it comes to CFD instruments. Otherwise, if there is no regulatory body supervising the trades, the brokers are performing these actions at their own discretion, meaning that what you invest will not be safe. If you don’t have time to chat, feel free to send us an email and we’ll get back to you on average within 15 minutes.

Client Support

It’s important for every broker to have a proper regulatory status and administrative body. This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation. If you prefer to speak to someone over the phone, we will be happy to give you a call.

Finally, it’s time to take a look at how trustworthy LimeFX is, which means we need to determine is LimeFX regulated or not. For example, if you deposit 100 USD on your account, you’ll be able to open a position for 50,000 USD. It goes without saying that a position this large will also produce higher profit rates. However, we should also point out that higher leverage rates do increase the losses with the same amount, therefore, you should always use this feature carefully.

LimeFX has multiple fees and the people who intend to use the platform should know about them. LimeFX does not hold a regulatory license and therefore will not provide the same level of protection as providers. LimeFX does not hold a regulatory license and therefore will not provide the same level of protection as providers with well-known regulatory bodies such as the FCA or CySEC. In 2019, the company won the Best U.S. CDF Broker – Today Trader award. That may not be enough to convince you, especially when paired with the fact the broker is new.

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By design, however, MT5 was meant to meet the needs of non-forex and U.S. markets. We tested the trading platforms with both our demo and our standard account to see how they work. When a broker has a smaller minimum deposit fee, it’s usually meant for a more mainstream audience, whereas those with higher minimum deposit fees tend to also offer some additional services. Located in the Commonwealth of Dominica, this site is known to offer trading options on multiple things like commodities, Forex pairs, cryptocurrencies, and company shares.

LimeFX forex brokers reviews

When it comes to the website layout and design, it’s only fair to say that it looks well-optimized. Except for some difficult-to-obtain details, such as spreads or licensing, you can pretty much find anything on this website. Support are really fast at responding and withdrawals are spot on. Ive been happy and have used them more and more as time has gone on. The withdrawals are quick and my orders are processed accurately and on time. Lastly, I like customer support, they are responsive, I had to chat with them once, and they were very cooperative.

Standard Trading Account

We went through both processes and tested both types of accounts. The demo one was very easy to use and any person who is new to trading would be able to understand how it works. The transition from a demo to a standard account is very smooth and after using the demo account, anyone would be prepared for the real live trading one. But it’s certainly not the only account you can get with LimeFX. It’s basically the same as the standard one, although it effectively eliminates swaps, which renders overnight trading accessible for Muslim traders.

How profitable can you get with LimeFX?

The offering of 55 forex pairs, 30 cryptos and 11 indices is enough to keep every retail trader happy. Most traders only really stick to the majors and a few minors, plus maybe a crypto pair or two so this product offering should be absolutely fine. If you trade a really specific market I would recommend contacting their 24/7 support team to check if they offer that market for you to trade. A demo account can be used for a variety of reasons including practice trading, testing trading strategies, exploring platforms and offers, and more. The spreads that traders can expect from LimeFX are variable, which means that it can change depending on the financial instrument being traded and the market conditions on the day. A Forex account is a trading account that traders hold with a specific broker with the purpose of trading financial instruments.

Been with them for a while now and moved over after my old broker was unreliable. After checking reviews and testing the broker have found that there leverage and offering out ways most other brokers. LimeFX processed withdrawal within a day, even during the weekend. If they offered a bit cheaper spread, it would have been great.

In the LimeFX review, along with all broker reviews, we put each of the available contact methods to the test. The objective is to discover how long we have to wait for a response, and once contact is made, to discover how professional and educated the agent are. During our testing, we observed that customer service is undoubtedly one of the benefits of using this broker. Not only do they guarantee fast response times on all contact methods, but they also ensure that no client will exit the experience without having their questions answered or problems resolved.

This is all because the payment providers may come with different transfer processing fees and times. Brokers like LimeFX have withdrawal fees as well, while brokers like LimeFX have none. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% limefx of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. You can choose from a decently-diversified account selection, as well as a couple of top-notch trading platforms.

We analyze more than 3000 data points across 8 key focus areas. Contacting customer support was an overall good experience for us. Not to mention that it also uses a lot of analysis tools and charting tools that help people trade without necessarily being experts. Also, it’s possible to install other third-party algorithms or custom ones if you want to get involved in personal trading. While testing the platforms, we came to the conclusion that both the Desktop application and the browser version are the same in terms of quality.

Account segregation – whenever you deposit funds on your account or generate profits on it, they’ll be stored on separate bank accounts. What this means is that if anything happens to the broker , it won’t be able to use your funds to pay up to its customers. We’ll also explore available educational materials and how you can enhance your trading knowledge with them.