However, our CipherTrace analysts can help locate your crypto and find the wallet holding the money now. Watch the most common forex scam videos and how to avoid them starting right now. A variety of tools are provided to help you make one-stop search, compare IBs information, limefx website and select your preferred IBs effectively. 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.
Whether you have an Android or an iOS phone, you’ll be able to find the application. Two-factor authentication is available too, which is great as the account will be protected against unauthorized access. The 2FA will require you to enter an additional code every time you log into your account. In case you are the owner of a business and you have proof of that, you have the chance to get a corporate account. Of course, this will automatically give you a higher deposit and trade limit.
We tested the trading platforms with both our demo and our standard account to see how they work. When you deposit money, the process is going to take up to 6 hours. We were pleased to see that we didn’t have to wait for ages until the money appeared in our account. The minimum deposit amount is $10 for https://limefx.biz/ Bitcoin and $50 for bank wire or cards. 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. While MT4 is a third-party software, the broker often creates browser-based platforms.
Next, click on the ‘Enable’ button shown just below personal information. To enable this feature, you will need to download and install Google Authenticator on your preferred mobile device and scan the presented QRCode. The turn two-factor authentication off, return to the same account area, and click the ‘Disable’ button. The broker is based in the Commonwealth of Dominica and operates without any regulations.
Fair enough, the spreads can be a bit big sometimes compared to some of the others I have used, but the accept BTC and there’s no kyc process to go through, so I’ll take that. Also wish they would add some more up to sate cryptos, many of them are still there from the previous bull cycle. All information on forex-broker-review is only published for general information purposes.
That means that if you lose your money if the broker manipulates the market, you have no regulatory body to complain to. You will have to go into the procedure of chargebacks, reports, etc. I was sceptical at first using a new broker as always, but they have been consistent, efficient and reliable. Kyle Townsend is the founder of Forex Broker Report, an experienced forex trader and an advocate for funding options for retail forex traders.
Is LimeFx a good and legitimate forex broker?
It makes them susceptible to market manipulation and easier to steal funds. The brokerage can change market prices, leverage, spreads, and everything else from the back side, and you’ll suffer all the losses. Now well over a year and no issues at all and they just keep getting better.
Commissions are charged on certain instruments, often when traders are offered with variable or floating spreads, as the percentage charged counts towards the brokers fee for their services. Brokers who are Market Makers, or who offer fixed spreads, often offer commission-free trading. The broker charges just $6 per lot round turn commission fees whilst there is a minimum 0.01 lot size requirement. The commission is very competitive when compared with other online brokerages. I also like how all trading strategies are welcome including scalping, hedging and news trading.
LimeFx AT A GLANCE
This broker has a pretty great reputation online in trading communities, which is actually rare to see from an unregulated broker. On ForexPeaceArmythey have a score of 4/5 stars, with a decent amount of reviews from traders that are thrilled with the conditions and have no problems. Although completely unregulated, the broker uses Bitcoin Cold Storage to safeguard client funds. This is completely offline and means they bitcoin are unaccessible by hackers, which is supposed to increase security of funds. With that being said, client funds aren’t backed or insured by any governing body or authority which means they are completely at risk.
The waiting time for a withdrawal payment to post also based on the selected method of payment. Note that withdrawals are paid out using the same payment method that was used to fund the account. So, for example, if you deposit with a speedy Bitcoin payment, you can expect an equally quick withdrawal. Started using LimeFx back in January 2020 and still use them now.
LimeFx uses an advanced and sophisticated pricing system that helps to ensure that spreads closely follow prevailing global markets. This guarantees that traders receive only the best possible trading conditions despite what they trade. A Forex account is a trading account that traders hold with a specific broker with the purpose of trading financial instruments. There is a Frequently Asked Questions page on the brokers website where you can get some immediate answers to some of the most commonly asked questions clients have. If you don’t find the answers you were looking for on the FAQ page, the LimeFx support team are on hand 24/7 to support you whenever you need them via Live Chat, Email or Phone. This is important when you consider the crypto market is open 24/7, so you may need to speak with someone on the weekend.
LimeFx are an ECN/STP broker, meaning they have extremely low spreads and fees for traders. Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital. LimeFx does not offer traders with any education or training on the official website. However, traders can access a variety of training and education through the MetaTrader 4 trading platform.
LimeFx warns potential customers that Forex and CFDs trading carries a substantial risk and may not be suitable for all investors. Bitcoin is the digital currency with the largest market capitalisation and price levels and dominates 50% of the total crypto market cap. The high volatility of energy prices due to political, environmental and several other factors, is a typical feature of this product, making it a popular trading choice.
- There are no fees for depositing with either Credit/Debit card, Wire or Bitcoin.
- LimeFx does not charge any additional broker fees such as conversion, inactivity, or account management and maintenance fees.
- Yes, in general, this broker accepts all the clients that are allowed to trade by their domestic laws.
- I think this is a vital tool that should be in every trader’s toolbox.
- This means that opportunities will be available 24-hours a day, throughout the standard business week (Monday-Friday).
Live chat is the fastest way to reach them and have general queries resolved in real time. If you don’t have time to chat, you can send them an email and they aim to get back to you on average within 15 minutes. If you would prefer to speak to someone over the phone, you can request a call back and they will be happy to give you a call. The average response time is 4 hours when requesting a call back. The broker has an economic calendar on its website which is a very useful tool as part of the fundamental analysis of an overall trading strategy. The calendar displays the most recent and upcoming news releases that can cause an impact on the various markets around the globe.
MetaTrader 4 is one of the most used trading platforms available today and it is used by millions of traders from around the globe. LimeFx offers Muslim traders who follow the Sharia Law with the option of converting their live trading account into an Islamic Account. There are no additional costs indicated on the Muslim account. LimeFx was established in 2019 in Dominica and even though it is a new broker, it has become a popular choice especially in African and Asian countries.
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. Free demo or practice accounts are supplied to all who wish to evaluate the trading platform, hone their skills, or test a variety of strategies. Each demo account is unlimited, which means that it remains open forever, on the condition that it is logged into at least once per two-week period. If no login is detected within the stated period, the practice account will close. However, there is no rule against creating a new demo account if yours expires, or you forget your password and are unable to log back in.
LimeFx Review and Information 2023
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. The platform looks very nice and uses advanced charts, and you can easily access your trading tools and customize your own trading environment.
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 offers the use of virtual funds instead of actual capital. This allows for risk-free trading as well as exploring of both the broker’s offer and the trading platform. LimeFx offers traders with the use of the award-winning and popular MetaTrader 4 which was developed by MetaQuotes.
Just be aware of blockchain fees because I have been stung in the past where the fee amounted to more than the amount that I wanted to deposit which left me out of pocket. The firm offers STP process, which means that all traders will see their trades will execute almost instantly. If you’re new to forex trading and aren’t clear limefx scammers on the importance of STP, you will quickly understand when you begin trading. Essentially, STP means that within just a fraction of a single second, the system compares rates among several liquidity providers and then selects the best for each of your trades. High spreads are worthless if the trade execution speed is too slow.
They are a new broker, so do not have many reviews online at this point – but the few reviews they currently have are positive. 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. The Payments Team conducts security checks to ensure that the funds being sent out are in fact going to the right person.