LimeFx review: Is it a legit or scam forex broker?
LimeFx hasn’t yet published spreads for all their listed cryptocurrencies. Note that cryptocurrency spreads may be adjusted more frequently than other assets due to high volatility. By 2015, the company officially offered over 200 markets in a variety of asset classes. The customer service is easily accessible during the trading week, and we are satisfied with it.
Fixed Spreads – Fixed spreads mean spread will stay stable during market volatility and ‘final’ prices are always transparent. To reduce the risk of ‘gapping‘ Axi offer deals for Virtual Private Servers . VPS is a type of server that is split to host many virtual servers, all segregated from each other. Servers are virtual because they act independently of each other.
But, you can also read LimeFx reviews in the market before you trade with it. The below-mentioned table will give you a glimpse of the requirements of each account and what they have to offer for traders of all classes. The safety of funds is the biggest concern for investors when trading online. The legitimacy of LimeFx ensures transparent and secure trading in various ways. Here, we would like to mention that LimeFx’ commitment to comply with international regulatory rules assures the safety of customer deposits.
LimeFx Indicies Spreads
These include Axi is an ECN Broker while LimeFx are a market maker broker. The in-app tutorials about how to use the app are very simple, brief, and straight forward. But the explanation of some very key trading options is not explained clearly. You might lose some money accidentally if you do not understand the difference between their easyTrade option and their day trade option. That means all the traders are trading between them and against the broker. These two regulatory bodies ensure that all deposits made by clients are safe and kept separate from the company funds.
The inside viewer is a sentiment tool that will show what percentage of other LimeFx are buying or selling a particular trading instrument. Sentiment analysis is often used as part of a contrarian trading strategy. LimeFx do not limefx provide services for residents of certain regions, such as the United States of America, Israel, Iran, North Korea, Iraq and some other countries. If your country is not accepted, you can find an alternative option on our broker ratings.
LimeFx Other Commodities Spreads
I feel this could restrict some trading strategies and does mean that you might not always get access to the fixed spreads on offer. For example, if you are scalping forex during hours of low volatility , the fixed spread would generally be lower than the actual market spread. What this means is that the broker could be making a loss if you are successfully scalping with artificially low fixed spreads.
This makes LimeFx ideal for inexperienced traders or ‘risk-averse’ traders. Competition has been heating up in the forex trading industry, providing an ample opportunity for innovators to step forward to distinguish themselves from the pack. LimeFx.com is one of these innovators that began in 2001 as easyLimeFx, only to re-brand itself in 2015 to reflect its broadened footprint in the world. By 2013, it had amassed over 100,000 active traders across the globe and accumulated trading turnover since Day One of over $1.5 trillion plus. It is now a recognized leader in the industry, respected for both its simplicity and transparency, and its new name, LimeFx, connotes its expansive progression. Also, the broker is in the front line in the adoption of new products and technologies.
They support CFD metal trading so you can trade precious metals such as gold and silver without actually needing to own the physical product. Precious metals are often considered safe heavens and used to hedge. They are separated into specific economies and can be impacted by interest rates, jobs data and strength of currencies.
Though it supports an impressive range of third-party tools and plugins, LimeFx’ research and education offerings are not as impressive as those offered by industry leaders. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 forex and CFD brokerages to find the best forex broker. Crispus Nyaga is a financial analyst, coach, and trader with more than 8 years in the industry. He has worked for leading companies like ATFX, LimeFx, and LimeFx.
NexGen is a really useful feature, as the range of tools can greatly assist traders when making trade decisions and then executing them. Both Axi and LimeFx offer MetaTrader 4 however LimeFx call their platform MT4 by LimeFx. LimeFx also offer their proprietary platform, which has some features not available on MT4. This means they quote bid prices and ask prices of liquidity for which they will buy or sell. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits. Customer service is helpful, quick, and very easy to get in touch with via Messenger.
Both are viewed as Pros or Cons based on the individual trading style. GSLO (Guaranteed Stop-Loss Order) feature is offered fee-free. Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions. You can monitor the rates, percentage change and high/lows of multiple markets. These can then be loaded into your trading ticket with just one click.
Axi vs LimeFx CFDs Conclusion
We conclude our LimeFx review with the verdict that the broker keeps upgrading itself with innovative features and tools to reach the top of the ladder. Though there are always chances of improvement, we would say that LimeFx is worth considering. We hope that this LimeFx review might help before you start trading.
- As such, you will find their system to be simple and straightforward, while offering many unique features not found with other brokers.
- It is full of useful analytical trading tools and customisable features.
- Even for the statement of 6 April you send me my statement with my transaction close with profit.
- In our analysis of 23 international regulators across 62 of the best forex brokers, LimeFx is considered average-risk, with an overall Trust Score of 86 out of 99.
To protect new investors from suffering unexpected losses, there are free guaranteed stop loss and negative balance protection features. Also, professional traders can customize their preferences & manage risks to earn more money. You can increase your trading knowledge using the various articles, videos and eBooks that LimeFx provide. They are free to anyone who opens an account and cover a range of topics suitable for beginner and experienced traders. Topics include trading strategies, trading psychology, technical analysis, risk management and an introduction to trading. I found the educational content to be basic although the content related to the brokers unique tools was very helpful.
Unique Features of LimeFx
This means prices are constantly being updated depending on prices offered by liquidators. This means traders may experience ‘slippage‘ if spreads change during execution. LimeFx offer a greater range of risk management tools when compared limefx forex broker with Axi. As already communicated to you, we have analyzed your trading activity and we have sent you the profits that you made through your legitimate trades. The unauthorized deals have been cancelled and your account has been closed.
The major card issuers are catered for include Visa, MasterCard, American Express and FCB. There is no fee charged on deposits and there is no minimum withdrawal amount. You could also download the mobile app for both Android and iOS devices, which work pretty well if you have a decent internet connection. It is intuitive to use and carries over many of the tools that you can access when trading from a computer. You get access to live trading charts, the options inside view, market explorer and trade notifications. There are also multiple research and analysis tools on offer.
Please come back often as broker services are very dynamic and can improve or deteriorate rapidly. Anyway, they never refused to pay my profits, but they are not happy when trader is in profit. Please stay away from this company if you loose money they are happ but if you make profit they dont give your profit. After that Easy Markets remove $5697 profit from my account.They did my profit trades 0.
All of LimeFx unique tools and features are accessible within our trading platform. This includes a financial calendar, market news, trading charts https://limefx.name/ and trading signals. LimeFx is easy to use and offers several unique features attractive to beginners through its proprietary trading platform.
LimeFx are regulated in Europe by the Cyprus Securities and Exchange Commission and in the Asian Pacific Region by the Australian Securities and LimeFx Commission . They were amongst the first firms to be registered and licensed by these authorities. The broker later acquired an FSA Seychelles and British Virgin Islands Financial Services Commission license to cover global clients. Often used by institutional traders to set up hedges against volatility.
I like their fixed spread, it never changes which makes me trade easily because am aware of my trading expence even before opening any position. I hate variable spreads because sometimes they can manipulate to trigger your sl. As for the platform used, LimeFx uses a proprietary platform that you will not find anywhere else.
The upper menu of the screen contains the available balance, the amount at risk, profit/loss statistics, and the CFD margin level. A “Deposit Funds” button is located on the right of these statistics. The execution screen has a simple design where traders can set amounts, risk limits and dealCancelation rates with the slide of a finger. Once traders download the app, they are welcomed with ready-to-trade demo.