Is LimeFx legit: LimeFx Review: Is This The Most Suitable Broker For You In 2023?

Is LimeFx legit
Is LimeFx legit

Refco took a 35% stake in LimeFx and licensed the LimeFx software for use by its own clients. Refco filed for bankruptcy on October 17, 2005, a week after a $430 million fraud was discovered, and two months after its initial public offering. Refco’s CEO limefx forex broker Phillip R. Bennett was later convicted of the fraud. LimeFx Trading Limited is an operating subsidiary within the LimeFx group of companies. LimeFx Israel is an authorised financial services provider and is regulated by the Israeli Securities Authority .

Is LimeFx legit

Trading Station web is very stable and mostly runs without a hitch. LimeFx has a history of fraudulent business practices that lasted from 2009 to 2014. Namely, the company offered its users a no dealing desk platform and gave them misleading information that damaged their trades.

Test of the LimeFx trading platforms

Additionally, the service provider also is regulated in Australia by ASIC or the Australian Securities & LimeFx Commission. It also is regulated by FSCA or Financial Sector Conduct Authority in South Africa. Hence, when all the above points are taken into account, there are reasons to believe that it is a well-known reliable, and respected name.

As we strive to excel in our industry, we are honored to have clients like you. If there is anything more for which you may require our assistance, don’t hesitate to contact us. We are happy to hear that you are satisfied with our service. Comments like yours keep us motivated to keep improving and we are confident that you will enjoy what we have planned for the future as well.

Demo account

LimeFx also supports multiple platforms for trading although they offer relatively fewer instruments. – TheForex Brokeroffers currencies, commodities, indices, metals, and cryptocurrencies to trade. I could not find any time limitations on these accounts which is excellent, making them ideal for testing algorithmic trading solutions and new strategies. I want to caution beginner traders against using a demo account as a full educational tool. It can create unrealistic trading expectations, and the absence of trading psychology negates the educational value. Although it can be helpful, new traders should complete their education with a real money account before becoming overly confident.

Nevertheless, different accounts have different minimum deposit requirements for account activation. LimeFx complies with the ESMA regulations, and it is also in adherence to the MiFID requirements . LimeFx Markets Limited (“LimeFx Markets”) limefx is incorporated in Bermuda as LimeFx Markets does not require a financial services license to operate its products or services. LimeFx offers bank wires, credit/debit cards, Skrill, Neteller, UnionPay, and cryptocurrencies.

Is LimeFx broker legit?

LimeFx is regulated in three tier-1 jurisdictions, making it a safe broker (low-risk) for trading forex and CFDs. In our testing, LimeFx earned Best in Class (top 7) for its Platforms and Tools, Professional Trading, Algorithmic Trading and Social Copy Trading.

Before we understand more about LimeFx minimum withdrawal and other such things, it would be a good idea to have a brief look at the trading opportunities that it offers. This goes a long way in making Forex trading the most important and significant asset product as far as LimeFx broker is concerned. When we factor in the above things, it is quite obvious that LimeFx is a low-risk trading house.

What about the minimum deposit?

Traders can withdraw funds via debit or credit card, Neteller, Skrill, and via bank transfer. Readers are advised to note that standard bank charges apply for withdrawal methods involving bank transfers. Compared to its contemporaries, the LimeFx trading platform is one of the very few regulated brokers with physical offices worldwide. Thus, users can reach them via the means mentioned above or directly visit their nearest office. For general inquiries and account related inquiries, users can send an email to and , respectively.

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The uniquely designed mobile platform includes mobile app charting with numerous drawing tools and 60 indicators for a hassle-free charting experience on smartphones. Trading Station is the proprietary trading platform for trading Forex and CFDs, suitable for traders of every skill level. The platform offers some of the best analytical tools available in the desktop platform, web platform, and application for Mac, Android, and iOS devices.

LimeFx Review – 19 Key Point Quick Overview

Only the Bermuda subsidiary supports them, while all others have fewer options. LimeFx offers a choice of payment methods between bank wires, credit/debit cards, Skrill, Neteller, UnionPay, and certain cryptocurrencies. Only the Bermuda subsidiary supports them all, while other branches offer have fewer options. LimeFx caters to most traders from its CFD account type, with the primary difference being by regulatory jurisdiction. Overall, we ranked LimeFx Deposits and Withdrawals 8 out of 10.

  • Forex Awards shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information.
  • The 2010 acquisition made LimeFx the largest retail forex broker in the world with over 200,000 clients and assets of around $800 million.
  • MT4 trading platform, NinjaTrader, and ZuluTrade are some of the other trading platforms offered at LimeFx, apart from its proprietary Trading Station.
  • In addition, this software got good risk management tools for social trading.
  • Third-party fees are applicable when making deposits and withdrawals and traders should be aware of the same.

Withdrawal via credit/debit cards are free, but bank transfers can be costly. You may discover that there are hidden fees, or that withdrawal times are longer than you anticipated. We check these factors and others so you know what to expect when trading with this broker.

Active or high-volume traders can enjoy their benefits with various available interfaces, good and competitive value spreads, or offerings with advanced technical features. The LimeFx LTD is headquartered and regulated in the UK by the Financial Conduct Authority. The LimeFx Group is headquartered in London , offering dedicated customer support service regardless of clients’ location through a global chain of offices situated in Germany, Australia, France, and Italy. Additionally, through the various affiliated offices, the broker provides access to the residents in Greece, Israel, and South Africa, thus becoming a truly global broker. LimeFx take care of the “little” traders as well as the Professional.

What happen to LimeFx?

All 40,000 of LimeFx's U.S. accounts were sold to Gain Capital. Global Brokerage, Inc. remained listed on NASDAQ under the ticker symbol, ‘GLBR.’ In May 2017, Global Brokerage was notified by NASDAQ that the market value of its stocks were not sufficient for continued listing.

It can take up to 5 business days for you to receive the funds, depending on your card processor or e-wallet. Islamic Accounts are swap-free (interest-free) and do not pay any swap fees whenever they keep a position open beyond the market closing time. With this account status, you pay commission fees of $30 per side per million worth of trade.

Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information. LimeFx offers low prices, very good research tools, and multiple powerful platforms.

However, if you are in the UK and you open a GBP account you can use the BACS withdrawal method free of charge. Usually, withdrawals are processed by LimeFx in 1 to 3 business days. LimeFx supports a wide range of payment providers making it easy to deposit and withdraw from your brokerage account. Available instruments at LimeFx range from Japanese to UK stock indices.

Is LimeFx legal?

LimeFx South Africa (PTY) LTD is an authorized Financial Services Provider and is regulated by the Financial Sector Conduct Authority under registration number 46534.

The trading window requires all traders to select and confirm as to which account to trade with , the asset being traded, the amount, and the order type . Following a simple sign-up using their personal details and a handful of questions, traders have full access to the platform. E-wallets and credit card transactions may take up to 24 hours, while wire transfers can take 3-to-5 working days. Traders who use excessive leverage may be at risk of a margin call and having their positions closed prematurely by LimeFx. The LimeFx margin requirements for each type of account vary as market conditions, volatility, and currency rates fluctuate. Margin amounts are calculated as a percentage of the notional value of a currency pair and get adjusted as the price fluctuates.

Is LimeFx legit

In addition, the compensation layout for each type of trader on this platform varies. The retail traders get direct profit as their account balance on the platform grows. The more the account grows, the more benefits they acquire. Professional traders are only compensated with an agreed amount of commission or salary. The funds of the investors and customers are placed in a separate bank account that is restricted from the business creditors in case it runs at a loss. The eligible compensation fee in some specific conditions is up to £85,000.

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Most likely there wasn’t enough liquidity to fill orders which caused people to think LimeFx was manipulating prices. LimeFx founder Drew Niv has openly said he would be surprised if 15% of the customers make money the system to designed to lose , We don’t like your trading strategy and they make there own rules. You can’t execute a trade all the time when it does not work in the broker’s favor. The education provided by LimeFx is a great overview of how to trade the markets. You can contact customer service by phone, email, or through a live chat. The most important service offered by brokers is the ability to accurately and quickly resolve trading issues.

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