LimeFx Review 2023: Is LimeFx HotForex Scam or Legit Broker️
direction@seocom.ma
In Forex Trading Posted June 08, 2021
LimeFx offers CFDs trading services choice of 7 account types and trading platforms with tight spreads averaging EUR USD 0.1 also operating unrestricted liquidity. Which is allowing any size or profile trader choose between various spreads and liquidity providers via automated trading platforms and perform any strategy, including News trading. Spreads and commissions are variable and depend on the market conditions, account type, and markups from the broker. Spread-free accounts or accounts that promise spreads from 0 pips, give you market prices on spreads, on the other hand, they charge you for financial services using a commission. In case you are a high-frequency, active trader, you might prefer to pay less on spreads and more on commissions and vice versa.
The demo account can be used on MT4 or MT5 trading platforms, in a simulation of real trading scenarios. You have access to the same financial markets and real-life market conditions. One of the LimeFx Pros also is offered market range that includes 17 trading tools and 150+ trading products with access to global markets. https://limefx.club/ These include Indices, Metals, Energies, Shares, Commodities, Bonds, ETFs, DMA Stocks, and included for last years offering to trade Cryptocurrencies with Bitcoin, Ethereum, Litecoin, Ripple and more. This LimeFx trading account type is designed for traders who are new to the Forex market and are making their first steps.
Customer support offices are located in 10 countries and clients can communicate with local and global offices over the phone, email, or chat live straight from the broker’s main web page. The mobile app provides traders with a full set of market and limit orders. However, it’s not recommended to conduct market research limefx review using your mobile. In order to trade professionally, you need a PC screen where you can see more clearly. However, mobile apps are quite handy in emergency situations like power outages and computer failures. LimeFx’s mobile versions of MT4 and MT5 provide all the necessary features for monitoring your trades effectively.
At HF Markets, we offer multiple account types to suit the specific requirements of different traders. Whatever your trading strategy, level of funding or appetite for risk, there is an account to match your needs. There are five different types of trading accounts to choose from. Which makes LimeFx a great destination for many different types of traders. Each trading account entails a different minimum deposit and different maximum leverage.
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Whereas, educational material is essential for novice traders to become professionals. Once your trading platform is ready, you are ready to make your first deposit. Choose the payment method that you want, and fund your trading account to start trading and making money. In addition, you will be asked some questions regarding your trading experience, which financial instruments you are familiar with, and for how long you have been trading. Checking your level of experience is requested by strict regulators to protect traders’ interests.
- LimeFx is a financial trading services provider that has been in the industry for more than 10 years and operates more than 3.5 million trading accounts.
- This LimeFx trading account type is designed for traders who are new to the Forex market and are making their first steps.
- LimeFx withdrawal options including cards, bank transfer by far most used option and various ewallets.
The LimeFx App is modern, innovative, intuitive and awarded by Capital Finance as Best Forex Trading App. LimeFx does not offer services to residents of certain jurisdictions, including the USA, Canada, Sudan, Syria, Iran, North Korea and others. Access a wide range of desktop, web and mobile Trading Platforms including the LimeFx platform, MetaTrader 4 and MetaTrader 5. Therefore, inactivity fees will not be charged in case your balance is less than 5 USD. Moreover, if the inactivity status prolongs for more than 2 years, the broker will charge $20 monthly, and in the subsequent years, the inactivity fees will increase by $10 every year.
App support
Despite this, there are no deposit fees or some of the withdrawals are free as well, which we will see in our LimeFx review further. For the funds protection, which is an important part of the regulated broker, HF Markets (Europe) Ltd. is a member of the Cyprus Investor Compensation Fund. It constitutes a claim of the covered clients against investment firms. Clients’ deposits are protected under the requirements of the regulators. In addition to its main license from CySEC, the broker holds other licenses to be able to serve clients from some specific jurisdictions including South Africa, Dubai, England etc.
The HF Markets MT4 Terminal offers a number of impressive analytical tools:
LimeFx enables you to keep track of your market activity when you are on the go, using the modern mobile app. The app can be installed on any Android or iOS device including iPhones and iPads, which makes it easier for traders to conduct transactions from anywhere. MetaTrader is one of the most commonly used trading platforms in the world, and these platforms are mostly used by reliable brokers that are well-established. LimeFx does not impose any fees on deposits or withdrawals from its end.
How do I deposit money on LimeFx?
LimeFx is suitable for various traders including European clients, Africa and Asia traders, also beginning traders and experienced looking for good technical trading solutions. The most catchy feature of this company – copy trading, as to me. indeed, multitude of brokers across the market offer this service, but not all of them propose quality one. It has created a separated site, where all instructions how it works, how to sign up are given.
And the last point withdrawal fee, which is actually 0$ is amazing news that allows you not to worry about extra fees. However, Wire Transfer may involve some correspondent fees according to your bank and international policies. On the other hand, LimeFx has limited portfolio for EU clients, with only Forex and CFDs are offered. Also, international trading is done via offshore branches with lower requirements, however LimeFx has good reputation so is considered to sign in.
Trading Instruments
In simple terms it means the broker is regulated and authorized to offer its trading service along with necessary safety measures and controls applied. This review is to warn people who are thinking about open a trading account with LimeFx. I had to program a call with my “Account Manager” in order to verify my phone number because the “Automatic Verification” never worked. So, if they never resolved a minor issue like a phone verification in order I could open a REAL trading account, I dont know what this broker would do if I have an issue with a withdrawal. Freezes its MT4 platform for close to 30 mins widens spreads big time and with that even if you were in profit you lose out.
Traders using LimeFx Micro accounts have full access to all financial instruments, and they can use every trading platform provided by the broker such as MT4 and MT5. Various payment methods will process withdraw money in slightly different time. LimeFx accounting team confirms transactions quite quickly as we had on our trade test, yet the matter might take longer due to payment providers. Alike Wire transfer will take 2-10 working days, also depending on your bank and international policy processing, while ewallets will load the request Instant. Forex trading also offers high liquidity, low transaction costs, leveraged trading and the ability to trade 24 hours a day, five days a week.
Some time ago I saw that a few traders complained about the unmodern design. And now the company has corrected it.Broker is also constantly improving its services./ I have noticed this in my experience. There is a large variety of research tools and educational material provided by LimeFx. The trading tools such as the economic calendar and calculator give you a better insight into the markets.
With LimeFx you can trade more than 3138 instruments, out of which 2,170 are physical stocks. MetaTrader platforms are well known for their reliability which is the reason why they stay relevant in the modern world. MT4 was developed in 2005 and despite its old-fashioned design, most Forex brokers offer the trading software to their clients. MT5 was released 5 years later, in 2010, and offers access to a wider range of trading assets. Note that MT4 was designed for and is still mostly focused on Forex trading. This type of account includes two subaccounts – the strategy providers and followers, and you can choose to trade using any of these two types.