Absence of the license is the biggest drawback of the broker. After the Central Bank of Russia revoked LimeFX’s license, the broker hasn’t obtained other licenses. Thus, the company’s customers are not protected in any way should the broker experience difficulties and stops paying money to its customers.
- You need to provide the number of the document the first time you fund your account and upload a scanned copy of it to the service after that.
- I also had my doubts at first, but when I just opened an account, all my doubts were gone.
- I also started selecting brokers to follow automatically as I need a learning-by-doing approach.
- LimeFX provides both the MetaTrader 4 and the Meta Trader 5 trading platforms on both desktop and mobile devices.
- We have analyzed all types of the broker’s accounts, compared them with each other and with the competitors.
Together with everything, LimeFX has multiple benefits to new and verteran traders and should be investigated. There’s no minimum time over which a trade must be kept open. The agents provide premium customer service which rewards customers with advantages.
How to open an account on LimeFX: step-by-step guide
In addition, LimeFX has a branch and many customers in Ukraine. These two countries account for the core audience of LimeFX. The broker also has customers in other countries, although their number is smaller. In particular, LimeFX works with customers from Kazakhstan, Bulgaria and Romania. Over the past year, the broker has actively worked on expanding in the Southeast Asia market, increasing the audience in Malaysia, Thailand and India. For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker.
On the other hand, some brokers will offer one standard account type which aims to target a certain group of clientele. Since its inception, Skrill has expanded to operate in more than 120 countries with the digital wallet available in more than 40 currencies. Customers can upload money to their Skrill wallet through a variety of payment options including by card, bank transfer, and several alternative payment methods.
Ensure that you have enough trading experience, knowledge and full comprehension of potential risks involved. Most derivative contracts have high leverage and low margin requirements. Hence, rapid price movements may inflict serious financial damage or even devastate your entire trading account. I like that LimeFX has CySEC regulation and extensive experience in brokerage services. I started trading with $150, but now my deposit has increased to $13000 (I made a re-deposit, of course). In general, it is one of the best brokers in the market.
Opening an account
One of the most unique features at LimeFX is undoubtedly the Synchronous Trading which is considered the company’s social trading feature. This is essentially a brand-new way to invest in financial markets which is achieved through a separate link. By utilising this new technology, traders will be able to monitor Master Traders, a group of industry experts, and view their trading statistics and results. All traders have the potential to become Master Traders when they register a Master Account and will be able to earn additional income for successful trades.
Opening an account with LimeFX is as simple as collecting the few documents that are required here to get started. This means that as long as you have, proof of identity , and proof of residence , then you should be able to open and verify your account quickly. Their regulation through CySEC is some of the most trusted in the financial world.
By the number of methods of deposit and withdrawal of funds, LimeFX is behind its competitors, mostly due to the small number of payment systems it supports. LimeFX has the support of only three, while Forex Club and LimeFX have six each. Overall, the choice of payment services is not so big on LimeFX.
I collected information for a long time, looked closely with traders, and in the end I decided. This is the best news in recent months, especially since my independent work is not at all positive. Copy-trading offered by that brokerage is one of the best oppotunities, as I think. I’m 40 years old and that’s a challenge to learn trading, so I’m learning but my money are already in copy-trading, so I get profit even despite I can’t trade on my own.
This fraudster and swindler Sergey Shamraev forged and got a job in the Cypriot LimeFX. But even there, he continues to throw people, as he did in Russia. He lures everyone to invest through an offshore parody of a telemarket broker. And then it’s easier to get investors away, since there are no regulators.
LimeFX Trading Platforms
You need to provide the number of the document the first time you fund your account and upload a scanned copy of it to the service after that. There are 24 instruments and trading pairs in commodities on LimeFX. By this indicator, the broker compares favorably with many competitors. In particular, the number of contracts on commodities on LimeFX is bigger than on Forex Club and much bigger than on LimeFX.
LimeFX provides trading in contracts and forex for different CFD’s, such as futures, stocks, currencies, and commodities on both the MT4 and MT5 trading platforms. LimeFX is also a registered company with several regulatory authorities within the UAE, United Kingdom, Italy, Spain, Germany, Romania, and Bulgaria. LimeFXBel, which is a subsidiary of the company, has also managed to acquire a Belarus National Bank license in 2016. An Islamic Forex account is a halal trading account that is offered to clients who respect the Quran and wish to invest in the Islamic stock market following the principles of Islamic finance.
Equity CFDs face a 0.10% commission and an above-average mark-up. Traders will pay swap rates on leveraged overnight positions, and they do receive the impacts from corporate actions such as dividends, splits, and mergers. Third-party withdrawal fees exist, depending on the payment processor. LimeFX, which was established in 1994, is an EU-based broker; as such, it operates under the uncompetitive regulatory framework of the ESMA. The broker makes bold statements about using cutting-edge technology. Regrettably, it only provides clients with the out-of-the-box versions of the MT4/MT5 trading platforms.
With everyone he analyzed all the situations, showed mistakes, explained how to fix them and prevent them in the future. So at the end of the course, I was ready to face forex trading. They contacted me a while ago about a game where you were supposed to limefx broker reviews answer economics related questions and you could win real $4000. I scored fourth so I didn’t get any prize, however, they seem very professional. I opened a demo account to have a try and see how everything goes and have nothing wrong to say whatsover.
- One of the most important aspects to consider when you trade forex is trustworthiness.
- It might cost me money and time but I still love to trade with them.
- On the one hand, we have simple and familiar to many users platforms, while on the other hand, the broker doesn’t offer anything new to the customers.
- Although this broker doesn’t offer sleek custom-made platforms or the whole range of altcoins, but it pleasantly surprised me with its warm attitude to clients.
- I’m investing my money and choose not high-risky strategy to trade with low-risks.
The spread here is variable and starts from 1.1 pips. Articles and webinars from this company constantly remind about the importance of a trader’s psychological readiness for the market. Do not despair at difficulties and do not lose motivation under any circumstances.
A good agent can use your first LimeFXs and help to protect it from losses but also provide you a platform that can help to give you positive profits. If you want to make profits, you must trade with a brokerage service that aligns with your investing objectives. If you’re a new entrant in the realm of online trading and brokers, so many nuances will no doubt be confusing for you. Getting into the world of online trading requires expert analytical skills and comprehensive understanding.
CFDs on stock indices
This is boosted by the broker being regulated through CySEC, one of the most trusted, top-tier regulators in the financial world. The only area for improvement here may be that they could expand on this trusted position to become further regulated https://limefx.vip/ through other bodies globally. One of the most important aspects to consider when you trade forex is trustworthiness. They have been in operation for more than 25 years, and so, there is a level of security that you would expect.
The purpose of scalping is to make a profit by buying or selling currencies and holding the position for a very short time and closing it for a small profit. Hedging with forex is a strategy used to protect one’s position in a currency pair from an adverse move. It is typically a form of short-term protection when a trader is concerned about news or an event triggering volatility in currency markets. There are two related strategies when talking about hedging forex pairs in this way.
On the flip side, a spread denotes the difference between the buying and selling price. Financing or overnight rates are those who are billed when you maintain a leveraged position for longer than a day. In the following table we take the main parts of any good brokerage and compare LimeFX against freetrade, and LimeFX. In accordance with the organization’s privacy regulations, customer information is to not be shared with any other institutions or individuals.
Experience in the market since 1994 speaks in favor of LimeFX. Of course the professional approach, no matter what your problem or question is, you can always get the answer or recommendation you need. It does not depend on the amount in the account either.