He’s a graduate of the University of South Carolina and Nova Southeastern University, and holds a graduate certificate in financial planning from Florida State University. Many of them believe/claim that it is their right to add markups while they charge commissions also. Many of them deny it, and claim that the spread they offer is the normal forex market spread. You can easily compare their spread with the market’s normal spread. Focusing your efforts on trading higher time frames will give you a much better perspective on the markets and will greatly reduce the amount of trading mistakes you make. The daily chart gives us the best combination of accuracy and frequency of price action trading setups.
Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your limefx official site circumstances. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities.
- This amount is needed to pay during registration for the first time.
- The web-based trading platform supports social trading well, and ProCharts allows manual traders to analyze markets.
- CopyTrader and Popular Investor are flip sides of the same coin.
- They are using my money to make profit and there is no sign about getting my money back.
The layout of the LimeFX trading platform is user-friendly and easy to navigate. The user has a control panel on the left-hand side of the screen. The right-hand side shows all the charts, data, and profiles you’ll need to make your LimeFX choices. Likewise, LimeFX’s mobile apps allow you to do pretty much everything you can do on the desktop version of the trading platform. The ability to receive notifications on the go means you’ll be able to stay on top of your trades regardless of where you are.
Weekday overnight holds cost 24 cents per $1,000 of leveraged exposure that is tripled for weekend overnight holds, but you won’t be charged an overnight fee for non-leveraged exposure. That said, the ESMA enforced new rules in 2018 that state negative balance protection must be in place that ensures clients cannot lose more than 100% of their account value. CEO Assia confirmed rumours that it would soon launch its own debit card, which would be offered to customers, in addition to expanding activities in the U.S. Launched in 2007, LimeFX has since proven to be a disruption to the world of trading; by offering accessible trading for all, and reduced reliance on traditional financial institutions.
Can I deposit bitcoin to LimeFX?
Social media-like feeds of user thoughts and comments are present throughout the LimeFX platform. You’ll see a general feed immediately when you log in that broadly covers user thoughts on crypto, markets and investing. To rank the best crypto exchanges overall and the best exchanges for beginners, we assessed all of the features and options offered by these 25 platforms.
- In addition, LimeFX Club members of the Platinum tiers and above pay no withdrawal fees.
- If you choose a forex broker that uses automation, you can try trading bots.
- The brokerage is owned by Cedar LLC and based in St. Vincent and the Grenadines.
- Learn more and get started today with a special new member discount.
- This makes the whole trading experience easier, as well as educative.
- Recently I was invited to a boxing event at the O2 arena and the whole experience was incredible.
The LimeFX demo account also allows traders to test the functions of the platform before committing real money. The LimeFX platform offers CFD trading over 50 currency pairs. The broker has recently reduced spreads throughout its forex line, especially on top currency pairs. LimeFX established the first social trading platform, disrupting the online brokerage industry. LimeFX allows you to withdraw money through the same methods used for making deposits.
LimeFX’s mobile app is user-friendly and created with a simple, uncluttered design. The straightforward design combined with the feel of a social media app makes for an innovative, creative user experience. The app construction is built with an interactive functionality so you can engage with other traders and navigate to popular investor profiles. The CopyTrade tool lets you quickly https://limefx.vip/ search for and copy the crypto trades of popular investors. Traders can engage with other members of the platform through the Popular Investor Program, which facilitates the sharing of trading insights and knowledge. Popular Investor Program members are compensated the more copiers they have, Payouts can reach up to 2% of the amount of assets a trader has on the platform.
LimeFX Platform Limitations
LimeFX is a highly versatile company that offers a good breadth of Contract for Difference , copy portfolios, crypto trading, stock trading, copy trading, and so much more. Rather, one can say that it is this quality of the company that has empowered it to lead the fintech revolution over the last ten years with its top notch financial services. This is the most well researched and comprehensive of all LimeFX reviews available.
(While they have full access to all public profiles worldwide, U.S. clients can copy only other U.S. users). The five-tier LimeFX club offers additional benefits, including the absence of currency conversion fees and free withdrawals. The lowest tier requires an account balance of $5,000, while the most beneficial rewards are available above $25,000. A fee of 1% is added to the spread when buying or selling crypto assets on LimeFX. This fee is included in the price shown when users open or close a position.
People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. Trading disruptions are situations in which markets cease to function regularly, usually defined by fast and extensive movements in the market. There is no one specific reason for this – they can derive from unusual trading or physical threats to the stock market. It is of the utmost importance to include the unique Transaction ID to allow LimeFX to efficiently recognize the transfer and credit your investing account. There were reviews said that the request or question support was slow and the contact was limited. However, I was blessed to work with Charlie Kaur, the Account Manager who is very responsive and professional.
What is a Forex Broker?
The platform demands the users to share a selfie showing the person holding the documents that act as evidence of his/her identity. The user needs to upload the selfie on the platform in the registration process. Backlog analytic mechanism that supports the decision-making process, and offers many PT and code insights.
LimeFX has high non-trading fees,as it charges $10 per month after one year of inactivity, but simply logging into your account counts as an activity. So how did we approach the problem of making their fees clear and comparable? We compare brokers by calculating all the fees of a typical trade for selected products. We also compared LimeFX’s fees with those of two similar brokers we selected, XTB and Trading 212. This selection is based on objective factors such as products offered, client profile, fee structure, etc. Low forex and CFD fees LimeFX fees snapshot Assets Fee level Fee terms S&P 500 CFD Low The fees are built into the spread, 0.75 points is the average spread cost during peak trading hours.
Desktop trading platform
They use this model and combine it with best aspects of STP (Straight-Through Processing) and NDD practices. This is a great advantage and puts them on top of many of its rivals. Before you deposit money you will have to go through an ID verification process. The process takes less than a day to be completed when they recieve all the required documents. You’ll have to take a quick survey intended to assess your trading knowledge and experience. There’s a sizable list of countries that are banned from opening an account with them.
All these different ways naturally have a different minimum deposit. The variety gives a chance for every kind of budget to participate on the platform. LimeFX offers a ‘virtual-money account.’ It is a form of ‘virtual money’ which the users can use for understanding how the trading actually works. The users can get a deeper understanding of the trading tactics and plan with the help of this virtual money. Access to a vast range of trading assets from shares, stocks, cryptocurrencies, indices, and commodities among others.
The brokerage also has the maximum deposit amount of $10,000 per day but you won’t be charged any fees when depositing money since there is no deposit fee at LimeFX. There is research based on the platforms social trading elements, for example the platform extracts data from top traders, which is a unique aspect in its own right. 2019 saw an influx of acquisitions, with LimeFX proving to be no exception to this with their acquisition of Firmo in March. Firmo, a Copenhagen based blockchain business offers a platform that allows traders to execute financial contracts across several assets. What I really like about LimeFX, is that you can interact with many other traders, investors, and of course, the popular investors.
On the negative side platform is rather basic, spreads for some instruments are high and there is no 24/7 support. In fact, every day thousands of new traders continue connecting to LimeFX expanding community globally, so let us get closer and understand a reason for that. See how LimeFX compares to the leading Forex brokers by reading one of the reviews below. LimeFX’s CopyTrader system helps you to find new and better ways to build your portfolio by copying other successful traders’ strategies and portfolios. LimeFX is active on social media including Facebook and Twitter, but they are mainly used for marketing purposes. When it comes to copy trading services, LimeFX’s CopyTrader is one of the most popular services out there.