LimeFX is initially an individual market participant broker. This implies they do not interface customer orders with the market prices offered in the market. Rather, LimeFX marks the cost up marginally, by creating a bigger spread. Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs. We said at the start of this LimeFX review that the question really wouldn’t be whether they were good but whether they could live up to the hype. Well, aside from a couple of minor criticisms we’ve had, we’d say that they have not only lived up to but have exceeded some very hefty expectations.

LimeFX scam

Traders can access interactive courses with videos, written guides, and tutorials. The beginner trader program covers eight in-depth themes to help get started. All of these educational materials are offered for free on its website, and are accessible even without an account. The products and services that LimeFX offers depend on a trader’s location.

Buy, sell, perform currency research and view charts all from the palm of your hand. You’ll likely be impressed with LimeFX’s research and education offerings. Let’s take a look at 3 helpful features the brokerage offers for trader education. Opening an account with LimeFX is also quite straightforward. U.S.-based applicants will need to fill out some basic information on an online form and provide details about their trading experience. They will also need their ID, social security number or ITIN, and their employer’s name, if applicable.

If you believe a trade was executed improperly, please don’t hesitate to reach out to us so that we can conduct a thorough investigation. We stand behind every trade we execute; if we find that your position was stopped out improperly, we will always do our best to reconcile your account. Thank you for trading with us, and we hope that we can satisfactorily assist you in resolving these inquiries. Used to be decent, but now stop hunted regularly at more than 3x the spread when retail positioning is the other direction and CVIX is little to none?? They take the other side of each trade, when you stop out THEY profit –SNEX shareholders like it that way.

The salesman claims that if he sells too many copies of his secret trading program, it could influence the market. No single program can move it, even if it were executed by one of the big banks, let alone a few retail traders, who collectively comprise less than 5% of Forex market participants. In this scam, money is generated from membership fees rather than actual profits from forex trading. It is called a pyramid scheme because as new recruits join, you move higher up the pyramid and ‘earn’ more money. LimeFX requires an initial deposit of at least 100 units of your base currency. It charges an inactivity fee of $15 per month if you go 12 months or more without trading, as well as interest on any positions held overnight.

Markets and products

Beyond this, email support is also available, but could take a bit longer to receive a response. Overall, LimeFX’s pricing is transparent and easy to understand, and offers traders of different levels accounts. Fees and commissions are not LimeFX’s strong-points in comparison to other brokers, as its spreads and commissions are a bit high, especially for those with smaller accounts. There is no negative balance protection offered by the company.

High-volume traders receive exclusive benefits such as cash rebates, earned interest, waived bank fees, and dedicated one-on-one support. These cash rebates can reduce trading costs by up to 15%, and traders can earn up to 1% APY interest on their average daily available margin. LimeFX has some limitations, but it offers impressive platforms for trading currencies and excellent educational options both beginners and experienced traders can appreciate. Even if you do open a LimeFX account to speculate in the forex market, you should also open another account with a stockbroker to invest for your retirement. LimeFX also offers its Commission and STP Pro accounts that involve paying commissions. Commission accounts incur a fee of $5 per 100k traded, but they have reduced spreads when compared to the Standard account.

It allows you to trade foreign currency only with almost 100 different currency pairs on offer (although it also offers a Gold/USD pair). As a result, you cannot trade any other financial product on this platform, including mainstream assets such as equities, funds and bonds. Unless you have an extremely specific LimeFX strategy you will need another LimeFX platform in addition to LimeFX.

  • However, you should reserve this for the speculative section of your portfolio.
  • You can also access all of your account management tools and have all the features at your fingertips.
  • You’re correct in saying that LimeFX is a market maker dealing desk, and thus, we are able to fill your trades instantly.
  • It is a spread-based with spreads that are higher than some competitors, but charges no commissions.
  • All of these educational materials are offered for free on its website, and are accessible even without an account.

In the U.S., its product line caters solely to spot forex trading, unleveraged gold & silver, and futures through its affiliate, FuturesOnline. A LimeFX account can also be integrated with NinjaTrader, a popular third-party trading platform. Clients can use LimeFX’s API to connect in for their own strategies. MT4 and MT5 connectivity allows the use of automated strategies using MetaTrader algorithms. 1 standard lot equals to 100,000 units of the base currency in a forex trade.

Very disappointed with this broker

If you fund your account in the same currency as your bank account or you trade assets in the same currency as your account base currency, you don’t have to pay a conversion fee. LimeFX has astraightforward and fully digital account opening process.Online registration takes only minutes. Our account was verified in 2 business days, which is a bit slower than at some other brokers. LimeFX’s non-trading fees are average overall.It doesn’t charge withdrawal or account fees, but you have to pay a $15 monthly fee after one year of inactivity. Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees. Our NFA-registered Forex Specialists will be happy to assist you with reviewing any trades you feel have been unfairly closed.

With a balance of $25,000, but does not grant access to the Active Trader program. I usually use a card for input and output, so I am very glad that at last it is possible to replenish and withdraw via the card without commission in the lobby. For a long time, the commission was, I can’t say that it was straight high, but still. And it’s especially nice that the cancellation of the commission is not for the promotion, but it seems to be on a permanent basis. In general, it’s nice that the broker is developing and improving conditions, in the spring, in my opinion, the classic account was improved.

We’re happy to hear that you’re enjoying our trading platform and we appreciate your thoughtful review. We continuously work to improve both our platform stability as well as our platform’s feature set. I had no problems whatsoever funding my account, the problem was when I tried to withdraw or fund when in a favorable position. I have complained to all security exchange authorities, but they are in the same boat with them. They won’t give me enough time to go into details, but I would.

LimeFX scam

Now when i ask support to return my money they say we are unable to pay your withdraw. Thank you for taking the time to provide your detailed feedback. We strive hard to make every customer’s experience enjoyable, and we are sorry we’ve not been able to meet your expectations this time. LimeFX is regulated in several jurisdictions but since laws vary by country, the products offered also vary. For example, CFDs are not available to U.S. clients but are available outside the U.S.

Leverageenables traders to ‘borrow’ capital in order to gain a larger exposure to the forex market. Larger trade size can be controlled with a limited amount of capital. These catch-all benchmark fees includes spreads, commissions and financing costs for all brokers. We also compared LimeFX’s fees with those of two similar brokers we selected, LimeFX and LimeFX.

Overall a great trading platform

Traders can be charged additional currency conversion charges. We are disappointed you have not had a good experience trading with LimeFX. Hope your company will improve its policy in the future to attract more traders. If you cannot spell or speak correctly, I doubt your ability to make educated trades.

I’m currently running a profitable EA through their MT4 Platform. If your situation has not been resolved, please contact our support team via live chat on our website, or message me privately with a way to contact you so that I can help to address your needs. LimeFX is regulated by top-tier financial authorities, which indicates that it is considered to be a safe brokerage. As a whole, experienced traders with a high trading-volume should consider LimeFX as a valuable option. The mobile experience is almost as good as the web-platform, bar some limitations, like offering less technical indicators.

I have a small account that I plan on…

Aside from their own trading layout, they also allow traders to connect their accounts with different MetaTrader versions and trade with third-party tools. There are many other useful LimeFX services that you can check out below. Expert opinions can make a difference and enrich your trading experience.

  • They won’t give me enough time to go into details, but I would.
  • It works, but would be nice if I could have it all in one place.
  • I also recommend checking the costs from the payment processor to the bank account unless a debit/credit card is available.
  • The Forex market has been operating in its current form for 40 years and is famously almost always open.
  • We understand and truly apologize for the withdrawal issues you have been experiencing with your account.
  • I want to note that a quality affiliate program is available with high payouts.

Using leverage by trading on margin is a common method forex traders use to control larger positions with a given amount of trading capital. This lets them amplify profits and make more meaningful trades as a result. Those who use technical analysis to inform their trading will appreciate LimeFX’s technical indicator offerings with over 90 individual indicators to choose from. You can add indicators to a currency pair’s chart with a single click and can add multiple indicators to a chart. Learn why many traders prefer LimeFX over other brokers in this in-depth LimeFX review. Standard account and commission account traders may also benefit from the Active Trader Program.

Looking for commission and fees data for LimeFX?

Check out our Charles Schwab review or our IG Broker review for a good comparison of features. You’ll also find our best Forex signals article offers some great trading insight. In summary, the Small Exchange with LimeFX is a very appealing option for novice or casual investors who want to dip their toes into futures investing. What it limefx scam gives you is the opportunity to have the efficiency of futures trading in an easier to understand way, and for a lower LimeFX. If you have been looking for a lower risk method of trading futures, then make sure to try out the Small Exchange with LimeFX. You can pretty much take what we said about Forex trading and apply it here.

The only real design flaw with LimeFX’s charting is, if anything, its emphasis on visual customization. The drawing tools are displayed very prominently, while the vast amount of data that investors can use is tucked away in various submenus. The effect is to make the platform’s trading environment feel like the financial equivalent of Microsoft Paint. In fact, with the range of technical indicators, customization options and trading tools available, most investors probably won’t notice the difference between the web and platform versions of LimeFX. For example, a USD/GBP currency swap means trading U.S. dollars against British pounds, while EUR/JPY trades the euro against the Japanese yen.

Unique FeaturesActive Trader ProgramLimeFX offers clients the out-of-the-box MT4 and MT5 trading platforms, best suitable for automated trading, plus its embedded social trading platforms. The well-designed Advanced Trading Platform, available as a desktop client and a web-based option, presents an excellent alternative. It supports algorithmic trading solutions and features 100+ templates and a Development Studio to create custom solutions. All trading platforms also come as mobile apps, popular among millennial retail traders. LimeFX offers free and comprehensive forex trading courses for beginners and experienced traders. LimeFX has teamed up with TradingView, one of the top charting technology companies, to offer advanced tools for technical analysis and trading.

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