With over 50 forex pairs, its asset choice is similar to those offered by its competitors. LimeFX is an internationally regulated beginner-friendly CFD broker offering trading on Forex, cryptocurrencies, commodities, indices, stocks, bonds, vanilla options, limefx review and ETFs. MetaTrader 4/5 – popular trading platform which gives the individual all the tools he needs to start trading. Fund your account with as little as $100, download the PC/web/iOS/Android version of the software, and make your first trade.
Before you go ahead and fund your account, make sure that the verification process of your account is completed and that all of your uploaded documents have been approved. The process begins with the trader signing up for an account with the broker , and this will take between 2 – 3 minutes of your time. Dealing with A reputable, reliable and regulated broker and trading platform.
Traders can choose between five base currencies at LimeFX, including USD, EUR, GBP, CHF, and AUD. AUD is only available for Australian clients, and GBP is only available for UK residents. Our goal is to give you the best information possible on how online trading works. No information or other content on this site should be considered as strategic investment advice. This is, admittedly, more limited than what we would expect from such an established trading platform. Next, all you need to do is wait for LimeFX to verify your account, which typically takes a few minutes.
All UK residents are eligible to open a trading account at LimeFX but will have to meet the minimum deposit requirement of 100 GBP. That being said, the minimum deposit amount is high and administrative and inactivity fees are certainly more punitive that we have seen from other brokers. In addition, those who have a lot of money to play with will definitely find better Pips elsewhere. With the apparent lack of volume discounts, some advanced features, and not a very large amount of assets on offer, some advanced users might not find it suitable for their needs. Overall, if you are a beginner looking to trade CFDs of various assets , LimeFX is one of the better platforms out there to fulfill your needs. He joined LimeFX in 2011 after holding positions in Allied Irish Bank and a major accountancy firm in Ireland.
LimeFX offers traders the opportunity to trade some “top rated” cryptocurrencies like Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Bitcoin Gold, Dash, EOS, Ripple. If you think the Bitcoin is going to lose value, you can sell Bitcoins without even owning them. You can simply sell the CFD contract and you will make profits from the decrease in value. This is called “short selling” in financial jargon and is often used by investment funds when the markets are falling. Moreover, LimeFX has a blog with plenty of up-to-date significant information about financial markets, trading strategies, and new trading approaches. The minimum deposit into your trading account depends on your base currency and your location.
Deposit Methods And Fees
The purpose of the materials on the blog is to review popular brokers and select the best ones for traders’ needs, again, based on the subjective opinions of the authors. The educational materials published in the blog are based on the experience of the authors and are subjective to their own understandings and expertise in online trading and investment. It also has a solid FAQ section with answers to the most common trading and financial market questions. Note that traders will not be able to trade on stocks and options on the MT4 platform. All accounts are available on MT4, MT5, and LimeFX’s proprietary platform and are available as Islamic swap-free options.
FxForex has long been a trustworthy guide to Forex, CFDs and Cryptocurrency trading online. We review online brokers, provide tips and guides to trading, as well as news on the latest developments in the industry. Meanwhile, the total lack of financial news or analyst services is particularly jarring at a time when every other major platform offers these for free.
Deposit & Withdrawal Methods
Support is available in a range of languages via email, live chat, and via a local British telephone number. Ebook –LimeFX’s Ebook gives traders a good overview of limefx review basic Forex terminology and the different groups of currency pairs available. The Ebook also explains how to read a Forex quote and the advantages of Forex trading.
Buy options to hedge risk or take a view, sell options to generate income. This type of trading is handled through LimeFX’s AvaOptions platform. LimeFX has excellent customer support, which provides information about any requirement Swaption in different languages. Their customer support is a responsive and intuitive platform where all clients can access via the LimeFX website. Customer support is available 24/5 for CFD trading, and 24/7 for cryptocurrency trading.
Before you decide whether or not to create an account with LimeFX, we’ve prepared this comprehensive LimeFX Review to help you decide whether it’s the right trading platform for you. The platform is not a scam per se, but there are a lot of testimonials from their former customers who claim that they were scammed out of their money. It could be a negative reputation damage orchestrated by their competitors, but it could also indicate that there are markets currencies some questionable activities going on around the company. Trading of oil, gold, silver, forex, indices also have specific requirements which LimeFX Islamic accounts make sure to fulfill. You work or have worked in the financial sector for at least one year in a professional position, which requires knowledge of the transactions or services envisaged. Finally, additional documents can be requested by your account manager or customer service agent.
LimeFX Review 2022
Beginners will likely find this “roadside assistance” very helpful and it’s definitely a welcome sight to have a company contact the customer directly, instead of it going the other way around. LimeFX generally offers a solid user interface that should be easily mastered by users of all levels of trading expertize. While the interface is good, information on the website is segmented in a manner that can at times be a bit confusing. With credit and debit cards, you need to withdraw 200 percent of the original deposit made with that card before changing the method. Withdrawals made via third parties have this limit set at lower 100 percent of the original deposit.
- Although, I must say that the technical analysis tools on the Web Trading platform is quite minimal, indepth analysis should be employed on a separate charting software.
- LimeFX offers traders the opportunity to trade some “top rated” cryptocurrencies like Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Bitcoin Gold, Dash, EOS, Ripple.
- Traders can learn to trade vanilla options on the AvaOptions demo account.
If the Bitcoinís market price is $1,000 and you have $1,000 in your Ava Trade account, you are able to buy or sell a contract of maximum 10 Bitcoins (the contract is worth $10,000). In a regular Bitcoin Exchange you are able to buy only one Bitcoin with $1,000, but at Ava Trade you can buy a contract for 10 Bitcoins with the same amount. There is also a special account offered to Muslim traders that has a swap-free option. It is important to know the characteristics of your account in order to know what kind of leverage you need. Forex trading is a risky financial activity and you must know how the different leverages work. Overall, LimeFX provides an excellent selection of both proprietary and third-party platforms to suit the needs of any trader.
What Are The Different Types Of Account?
In most cases, they will be processed and sent within one or two business days. Overall, LimeFX offers a wide range of financial instruments but stands out for its range of cryptocurrencies, commodities, and vanilla options. Traders also have access limefx scam to AvaProtect, LimeFX’s innovative risk management system. This unique trading tool allows clients to purchase protection against losing trades for a specified time, and if a trade is closed during that period any losses will be fully refunded.
You may not have to own a particular asset in order to benefit from the movement of the market, but rapid changes in price or leverage may cause you to lose all your money. Before you start trading, make sure you understand entirely how CFDs work and whether you can afford to take the risk. LimeFX operates with MetaTrader 4 and MetaTrader 5, two of the most known and used forex trading platforms worldwide. Withdrawals are typically processed and sent within 1 to 2 business days. LimeFX is one of the best, largest, and most reputable market maker brokers in the world.
LimeFX: Review Examining The Online Brokers Trading Platform Released http://t.co/lKk9UKoByU #Forex#Latest News#Tips#
— Self Help (@selfhelpwinner) October 30, 2013
If you have difficulties in understanding how leverage works or if you prefer to take smaller risks, you can still buy contracts equal in value to your bankroll. This way you don’t risk a forced sell if the value crashes and you’re able to keep your Bitcoins as long as you want. The spread can be high at certain times – the spread is the difference between the “Buy” and “Sell” price and it’s what you need to beat in order to make a profit. The broker charges a $50 fee if the account remains inactive for 3 consecutive months, which is deducted from the account. There is also a $100 fee if the account remains inactive for 12 consecutive months. All these regulations make LimeFX one of the most controlled and safe brokers in the world.
Options trading provides traders with opportunities to benefit from more than just the 2-dimensional nature of Forex trading. Vanilla options are available on more than 40 currency pairs, gold, and silver. Trading options can be a complex undertaking, but the AvaOptions platform simplifies the process. LimeFX holds all UK residents’ funds in accounts at top-tier banks, and provides negative balance protection to all traders. UK residents will be pleased to note that LimeFX’s EU entity participates in an investor protector scheme of up to 20,000 EUR, adding an extra level of fund security. Furthermore, LimeFX regularly discloses its financials, and is frequently assessed by external auditors, burnishing its credentials as a secure broker.
Customer support is responsive, polite, and knowledgeable – the live chat agent was able to answer all of our questions satisfactorily. Once all documents have been received, the account will be ready for trading within a matter of minutes. LimeFX requires individuals to submit a copy of their National ID or Passport with the signature page, as well as a copy of a recent utility bill or bank statement. Clients should click on “Register now” on LimeFX’s main page, and choose either a Real or a Demo account.
You can also move from “Classic” view to “Simple” view for a more spaced out view. Comprehensive educational resources– So even beginners can learn as they go along. Some other additional fees may include swaps, overnight interests, corporate actions, among others. 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.
Live chat support button is right above the search bar so you can try and get help from the platform’s operators, if the search doesn’t return satisfying results. As we usually do with our reviews, we will start this LimeFX review with a quick rundown and tabular overview of major features, pros & cons of the platform. The image below depicts the LimeFXs’ Web Trading platform and its basic features. On the left side of the screen is the “Market Rates” window, where you’re expected to filter through your instrument of interest.
Trading Central also delivers a daily strategy newsletter, combining both technical and fundamental research directly to your inbox. AvaOptions is available on all mobile devices and has the same functionality as the browser version. It also offers the same options strategies, but traders cannot set price alerts and notifications.
Australian Forex Brokers Review: LimeFX LTD http://t.co/GJVtEgEDfp
— Currency Central (@CurrencyCen) September 5, 2013
Nonetheless, LimeFX is reliable, trustworthy, and has plenty to offer. If you’re looking for a trading platform that has more experience than virtually any other company out there and one of the strongest industry reputations, then LimeFX is the platform for you. These accounts are similar to regular ones, except they aren’t subjected to any special fees and interests that might clash with Sharia Law. Additionally, Sharia law dictates that the lender must share in the borrower’s risk . Mine contacted me quite early in the next morning and offered me account managing services as well as answers to any additional questions I had.