LimeFX review: Is it a legit or scam social trading broker?

The amount of LimeFX protection coverage at LimeFX Europe is a maximum of €20,000. This threshold is set by the Cypriot Investors Compensation Fund. For other methods, like credit cards, a higher fee applies for some currencies.

  • On the net, you will find many LimeFX reviews from people who can confirm the reliability of LimeFX and you will also find many satisfied traders and investors.
  • The two platforms are very similar, the main difference being the lesser availability of charting tools on mobile devices.
  • Unfortunately, these research features are available only for a limited number of stocks.
  • The firm is regulated by the CySEC authority in the EU; it is authorized by the FCA in the UK, and by FinCEN in the United States, and by the ASIC in Australia.

Some of these methods include order management, such as stop loss, take profit, limit order and trailing stop. The broker also uses margin calls to alert you when your net balance is at a certain level relative to your open positions. Overall, LimeFX offers several features to help you integrate effective risk management.

Is LimeFX A Scam?

It has features that will appeal to active and passive investors and new and experienced investors alike. While there are some alternatives for those who want an easy way to invest in crypto, it’s hard to go wrong with LimeFX. LimeFX is a progressive Forex Broker and CFD Broker that is constantly expanding its offering.

We also compared LimeFX’s fees with those of two similar brokers we selected, Trading 212 and XTB. This selection is based on objective factors such as products offered, client profile, fee structure, etc. We ranked LimeFX’s fee levels as low, average or high based on how they compare to those of all reviewed brokers. They force you to keep all of your money on their exchange or trapped in their wallet which only has 5 available coins. This may be the ultimate in affiliate scams because I have faith it is not the ultimate in binary options trading software. This website is putting itself off as a trading signal tool with absolutely no cost, a money back guarantee if it did and free access today with out putting in any personal details.

LimeFX scam

Besides, the concept of social trading is well worth following and by offering a demo account, this platform can be a risk-free option for the traders. LimeFX offers advanced charting and research facilities for the experienced traders based on LimeFX reviews, where they can use this and make more money on the trades by attracting more followers. LimeFX does not provide different types of trading accounts. This is in keeping with the principle of some brokers not to segregate clients on the basis of financial muscle. Every trader gets the same type of account, with the same features and access to the same quality of service.

Trades that involve stocks not traded in USD will be converted to USD at the actual market prices by LimeFX, without taking any commission or markup. What’s more, LimeFX will also absorb any tax duty that might be due if you trade on the UK market. LimeFX used to be primarily a CFD broker that let you trade stocks and ETFs also in the form of CFDs, if you set the leverage to greater than one. First, let’s go over some basic terms related to broker fees. What you need to keep an eye on are trading fees and non-trading fees. Don’t trust them they are fake company, with fake promises, they will convince you to invest your hard earned money with them, don’t be fooled by all these scam LimeFX…

How we ranked fees

These options may appeal to more advanced crypto traders, who can earn annual rewards equal to up to 2% of their average balance for developing followers on the platform. The News and Analysis section is for intermediate and advanced-level traders, providing them with news and analysis of what the market sentiment is. Due to the high-tech language and the fact that the trader needs to know how to interpret the content of these pieces, they are not suitable for beginners. To initiate a withdrawal, simply click on the “Withdrawal” tab at the bottom of the menu panel that is located on the left side of the trading screen. Funds withdrawn are channeled through the same means by which the deposit was sent.

LimeFX scam

Besides the mentioned $5 withdrawal fee which is highly uncompetitive when compared to other brokers, LimeFX charges overnight/weekend fees for CFD positions. Market hours, spreads, and overnight fees vary from asset to asset and can be found here. Even those spreads that are displayed can vary due to various market conditions and liquidity. LimeFX also charges conversion fees for non-USD deposits, as the native currency of the platform is USD.

Popular Social trading Broker LimeFX adding Stocks to be available for trading via LimeFX US entity. Traders can now diversify portfolio with LimeFXs in US stocks, ETFs, and Crypto via LimeFX Trading platform. While previously US entity only offered trading of Cryptocurrency acting as a CryptoExchange.

The account managers are trained to teach the trader all the functions of the trading platform. From my experience, this staff is professionally trained and has the necessary expertise to help you trade successfully. At LimeFX, the cryptocurrencies are traded via CFD or via a crypto wallet. The advantage here is that you can invest very easily directly in cryptocurrencies. Currently, over 12 coins can be traded at really low commission fees. The payout system of LimeFX cannot be compared to any of the binary options brokers.

LimeFX vs competitors (Coinbase, Binance, Robinhood)

This means that any deposits or withdrawals other than USD will be subject to a conversion fee. LimeFX offers an absolutely unlimited demo account to try out the platform. All you need is a username, email address and phone number. Most are integrated into LimeFX’s standard trading account, while others may be slightly derivative, but still available for use as an LimeFX trader. On the platform itself, one of the most important areas is the “feed” section .

Note however that the minimum amount for a bank transfer is $500. To have a clear overview of LimeFX, let’s start with its trading fees. To read much more details about the broker’s services and features, expand on the sections below. AS if this wasn’t bad enough, they lost 75% of the payment back to me (approx. £400 was returned). I have been emailing them but they want me to chase the payments that they made with banks and visa cards that I no longer have.

Deposit and withdrawal

It charges a conversion charge when the trader withdraws or deposits cash from his account in currency apart from USD. This broker offers a newsfeed where the users can tap the latest news that is available on social media, and they can also see how other users are viewing their favorable assets. CopyTrade permits retail account holders to imitate the trades and trading techniques limefx forex brokers reviews of the best customers, automatically and continuously. Although other brokers have a similar capacity, none have incorporated it with social media communication just as LimeFX has. Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your circumstances.

Virtual Portfolio for Practice

Additionally, there are fees for using the LimeFX wallet and trading cryptocurrencies. Dividends may be applied to or deducted from your available balance in addition to the fees. Non-USD deposits and withdrawals are subject to a conversion fee.

Creating and managing a CopyTrade portfolio in LimeFX is a simple and transparent process. LimeFX offers a secure trading platform with easy withdrawals and deposits. Also, it has excellent training resources and a wide range of trading assets. An engaged community is always available to attend to your needs. With more than 28 million members across 140 countries, LimeFX offers a cryptocurrency exchange that facilitates crypto trading.

Instead, LimeFX makes money through spreads on different cryptocurrencies with a small percentage fee added to your trades. LimeFX compensates its Popular Investors based on the number of other LimeFX users that choose to copy their trades. If you sign up for the Popular Investor program, you can earn as little as $2 for each person copying you or up to 2% of the assets of those copying your trades. Trading cryptocurrency has become incredibly popular in recent years, with some crypto coins reaching market capitalizations in the hundreds of billions, close to trillions of dollars. This content is for educational purposes only and is not LimeFX advice.

In these cases the amount available to withdraw from LimeFX may be less than the original one, since the asset we have invested in may be less valuable than before. After this simple operation I will be automatically investing in a managed portfolio of cryptocurrencies and companies related to cryptos. Some users are angry because of the slow customer service. A certain level of safety also depends by the wise use of the tool. To be clear, LimeFX has 20 million users and it is a very old and popular broker. Indeed LimeFX wins easy these days because, who is preparing to buy Bitcoin, Ripple and similar on the “traditional” e-wallets, normally find it easier to do it on LimeFX than on real portfolios.

Users caught spamming or abusing will be deleted from the site and prohibited from future registration at and affiliates. We recommend staying within the range of good taste and respectful language to avoid any unpleasantness. These bundle together a select combination of CFD stocks, commodities, or ETFs, according to a predefined theme. They are fully regulated by the British Financial Conduct Authority, limefx reviews the Cyprus Securities and Exchange Commission, and the Australian Securities and LimeFX Commission . These are three of the most prolific regulatory watchdogs so the probability of LimeFX being a scam is extremely low to non-existent. Any action you take upon the information you find on this website is strictly at your own risk and we will not be liable for any losses and/or damages in the use of our website.