LimeFX Review 2022 Is Legit or Scam
The experience I got there was invaluable, plus it assured me that online trading was something I want to do for a living. Sure enough, I became a trading manager in 2015 with FXVC Online Trading, but a little while later I started working on my biggest project so far – BinaryOptionsTrading-Review.com. When the safety is subject, there are several parameters one should constantly keep in mind. For example, you always have to check out the rules of monetary transactions and whether they are secure or not. But, before discussing the monetary transaction rules we’d like to say a few words on another very important mater – regulation. Only if a broker is regulated you can be absolutely sure that it’s completely safe to trade with them.
Thank you for your feedback, your comments help us keep working hard to deliver better content to you every day. In regards to the fees, please note that these are general wire fees used in the EU and we cannot change them. We are sorry to hear that you are not completely satisfied with our services. Very slow, very high fees (outgoing wire is $50), no cards available for about 6 months now .
They also stated that my money is safe my account at LimeFX Bank. This means traders are able to receive not only competitive trading solutions but enjoy banking services from the leading Swiss bank too. This factor, however, requires close attention because it is often the area where people can be taken in by broker scams. Read the terms and conditions carefully and file a complaint if the broker suddenly slaps on fees that were not outlined ahead of time. The higher the tier regulator, the more accountability the broker has and the easier it will be to handle broker complaints.
To trade on the Forex market through this broker, you can access the platforms from your computer as well as from your smartphone. LimeFX is compatible with Windows, Linux and Mac, as well as with the mobile operating systems iOs and Android. LimeFX features live economic news calendar, news stream by MarketPulse and Reuters, SWFX Sentiment Index, and a host of other tools for traders. I have simply never had a problem with LimeFX, Swiss efficiency! I use the Jforex platform which is rock solid and constantly being improved.
- The Forex broker is licensed by the VFSC, but this is not enough to offer financial services or products in the UK or Europe.
- The entire responsibility for the contents rests with the commentators.
- LimeFX features live economic news calendar, news stream by MarketPulse and Reuters, SWFX Sentiment Index, and a host of other tools for traders.
- It goes against our guidelines to offer incentives for reviews.
- However, the Forex broker does not have a compulsory FCA license to do this.
- Regarding your requests to our support desk, they were both answered by our representatives the same day we received them.
Tell us your experience using a LimeFX service in the comments. If you’ve made it this far, you can draw your own conclusions about the advantages and cons of trading on Forex, and trade with bitcoins and CFDs. However, it is important to bear in mind that these actions involve a very high risk when investing without prior knowledge. limefx While it is possible to make money very quickly, even faster money can be lost. One of the cons is that the shares offered are from exclusively German companies. Although LimeFX has an ease of use for trading novices, the most significant gains are for those who handle volumes of more than 100,000 USD per account.
Worst experience I’ve had with a bank
You will be able to contact the team of this broker by phone, by email, or by the live chat window of their website. As it operates in so many countries, you will be able to count on customer service in more than ten languages. Once you decide to withdraw your dividends from this broker, the only way is by bank transfer. The currencies that LimeFX takes into account as base currencies to make a withdrawal are EUR, USD, GBP, AND CHF. You must remember that it is imperative that LimeFX can corroborate your identity. However, to open an account quickly, users’ opinions recommend to deposit not less than 1000 USD.
- 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.
- There wasn’t any timely response on how to correct the issue.
- Our LimeFX review found that you should expect to pay a trading commission for 0.10% of the trade value in GBP.
- LimeFX only offers 18 currency pairs to trade as binary options, which is not a lot, so they could use a bit of improvement here .
Use this review to guide your trading decisions and do your own due diligence on LimeFX as well. We have scanned fees that LimeFX charges when trading popular currency pairs, here is their breakdown in pips. They can be downloaded from the official websites so that there is no doubt about the legitimacy of them. The price https://limefx.club/ evolution graphs can be seen perfectly from the mobile with two large buttons, in green for the call and in red for the put, which leave no room for confusion. We will also be able to consult the economic calendar, the television channel, technical analysis and in short a large part of the functionalities of the web version.
Our methods have kept thousands of people safe from broker scams. Therefore, our review of LimeFX is a useful tool in making sound financial decisions. A very good broker that guarantees us that it is not a scam thanks to its license in Switzerland.
The company was founded on November 2, 2004 in Genoa and is regulated by the Swiss Financial Market Supervisory Authority . It has offices all over the world, specifically in Zürich, Riga, Kiev, Moscow, Kuala Lumpur and Hong Kong. As a curiosity, it should be noted that it has its own registered TV channel. Furthermore, it complies with ESMA’s opinions, so it can operate within the European Union. If your account belongs to LimeFX Europe, the initial amount should be 100 USD.
It is an ECN-type broker so I can carry-out client-to-bank trading without dealers and thus keep my trading strategy and open positions closed for those dealers. Besides, it is really important to have the prices just from leading banks. The broker does not re-quote and does not take positions against the clients. In general the execution is good here and the spreads are quite reasonable perhaps not the tightest one but it’s ok.
Of course, the platform is more complicated than what most binary options traders are used to, but with a little bit of practice, it becomes easy to use. And speaking of practice, they offer a free demo account – free as in you don’t have to deposit to get it. One of the best reasons to use LimeFX is the quality of the brand’s customer support team. Our LimeFX review was delighted to see that the broker offers 24-hour live trading support, which is something you don’t see at too many other online trading platforms. Just remember that you won’t be able to get customer support on weekends, but the good news is that LimeFX customer service is available in over a dozen different languages. Before investing in foreign exchange, carefully consider your level of experience and risk appetite.
Never ever trade with brokers that charge more then 10 pips with comssion include pips on most pairs , they basically rob you legally . Basically I never trade if spread with is more then 10 pips…. Another thing to note – JForex account and MT4 accounts are not interchangeable. One cannot use the same login to check some stuff on different charting platform. Clients can open account with LimeFX Bank or LimeFX Europe. Swiss branch requires higher initial deposit of $5,000 vs $100 for the European one, investor protection limits also vary by jurisdiction.
If you read most of LimeFX reviews, you will know that this brand has a decent reputation for spreads and commissions. This is something that can be seen all over the homepage of the LimeFX site, which advertises the fact that you can enjoy a EUR/USD spread from 0.1 pips for all accounts. This spread rate doesn’t just apply to forex markets, but it is also the pricing package for the brand’s popular CFDs too. In any case, Vanuatu is an offshore zone and we recommend that traders choose carefully the brokers they will work with. We recommend that all investors and traders avoid LimeFX and other Vanuatu brokers. Some brokers may provide a wide variety of trading products, while other brokers may specialize in one area, such as foreign exchange.
LimeFX offers different account types for its clients, depending on their preferences when trading. As in other brokers, the accounts vary from each other according to the amount of money you want to deposit. A possibility to open an account online from any part of the world.
Opinions of LimeFX
As for security, this company is licensed as a bank in Switzerland and is regulated by the financial authority of this country. The advantages of trying out a broker’s services through a demo account are countless. Experts’ opinions constantly confirm this, as it is the best way to learn how to invest money safely in trading operations. The opinions of the clients of this broker for trading and operations of Forex currency, recommend to follow certain steps.
We have created a procedure for investigating each broker carefully and to ensure they meet strict criteria. In the case of LimeFX, we looked at each of the following. Theindustryspread.com needs to review the security of your connection before proceeding.
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When investigating a broker case, try customer support, but keep in mind that even rogue brokers can appear friendly and helpful at first, and can later show their true colors. Sure, it will take you longer to get used to it limefx but I believe the extra effort is well worth it. All trading related information on the LimeFX website is not intended to solicit residents of Belgium, Israel, Russian Federation, Canada (including Québec) and the UK.
Some people might be disappointed to find that they aren’t buying the cryptocurrencies outright, but our LimeFX review found that the CFD model could actually work out to be a better approach. After all, investing in CFDs allows you to buy in fractions of value and you won’t have to worry about securely storing the cryptocurrencies that you purchase. All in all, a solid and reliable way to take your first steps in cryptocurrency trading.
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During our preliminary research on this broker, we came across a ton of LimeFX reviews in which people said that customer service after the initial withdrawal was absolutely poor. While these platforms would be good in the hands of other brokers, LimeFX makes unauthorized trades and traders have trouble withdrawing funds from LimeFX. These account options may sound tempting, but trading on LimeFX is nothing more than a scam. 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.
However, the conditions to be able to withdraw the money are really hard and we don’t think it’s very interesting. LimeFX is undoubtedly one of the most secure and reliable brokers in the world of Forex trading. In addition to its services as a broker, it also operates as a bank backed by the Swiss government, which guarantees security of a different kind compared to other brokers.
In addition to the platform, which is constantly improving, all other technologies are lagging behind. Nevertheless, the well-known trading platform MT4, appreciated by many users remains as an option for Dukascope clients. LimeFX does not provide an MT4 platform to access to Swiss Forex Marketplace or some particular instruments, rather designed for CFD trading. Attentive and helpful customer service is also a sign of a trustworthy broker. Look at the spreads and commissions and check them against those of other regulated brokers.