LimeFx offers free stock and ETF trading, while forex and CFD fees are low. On the negative side, non-trading fees are high, including a $5 withdrawal fee. The minimum deposit in EEA countries is $50, while it’s $10 in the US and UK. LimeFx’s spread is typically a bit wider than some of the leading forex brokers.
If you prefer trading equities, you’ll be pleased to choose between 950 different shares listed on 8 of the major global exchanges. A full list of LimeFx international coin offerings can be found here. Once there, you’ll be prompted to choose a username, enter your email address and set a password. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website.
Markets and products
Traders can see other trader’s portfolio, performance history, and risk score, allowing you to make a fully informed decision. The broker charges an inactivity fee of $10 per month after 1 year of no trading, which is pretty average. A guaranteed stop-loss protection is not provided, nor is additional coverage through private insurers. The order entry interface does not have any risk management features apart from stops and trailing stops.
With a long provable history, top-tier regulation, and LimeFx protection, we can confirm that LimeFx is a safe broker. E Toro has managed to invest in the most qualified staff as its personnel to run its affairs and maintain an awesome working relationship with their many clients. The personnel ensures that each client’s needs have been solved ensuring an excellent customer experience. Clients with this account are covered by the investor compensation fund in case of liquidation of the firm’s funds.
- Traders can register even faster by signing up by using their Facebook or Google account.
- LimeFx is a social trading platform that offers users access to assets, including, stocks and commodities.
- While our partners compensate us for our work, they can not alter our review process, ratings, and recommendations.
After some days, I received another email saying that LimeFx were no longer able to offer me any service, that all my position would be closed automatically after 72hour. If you ever publicly complain about their service, they may block your right to post permanently, and told you it is a technical problem they are trying to fix. If you try to introduce others to another limefx broker reviews platform, they will just flag your comment as spam and then remove it. A “Best in Class” designation means finishing in the top five brokers for that category. Select one or more of these brokers to compare against LimeFx. LimeFx presents clients with four regulated entities EU by CySEC, UK by FCA, AUS by ASIC and Seychelles by the Seychelles Financial Services Authority.
Opening an Account
It also means you never really know where your money is going. With that being said, we can confirm from our review of LimeFx, that this is one heavily regulated and safe broker. This is the basic or standard account type that is found on this trading platform. It is designed to suit the needs of every client both the novice and the experienced. The following are the perks that a client will accrue from having this account.
Until recently, LimeFx did not offer beginner traders any assistance, relying solely on its community. It now provides a well-structured platform consisting of videos, webinars, and guides. I rate LimeFx Academy as one of the best educational tools and recommend beginner traders take full advantage of it. Individual brokerage and options accounts are the only types of accounts that can be opened with LimeFx. Joint accounts, retirement accounts, trust accounts, and custodial accounts are not available. This aspect can be a severely limiting factor for users looking to open accounts that are better suited for a wide variety of goals.
CopyTrader and CopyPortfolios remain popular among millennials, and LimeFx has more than 13,000,000 traders, making it home to one of the largest networks. The educational tools remain limited, and the research consists of market commentary. LimeFx relies on the community to deliver tradeable information.
They did not clarify their stop loss policy clearly either. They did not flag in bold letters that this is a dangerous product that is 20X LEVERAGED. Yes I was careless not to read the fine print, but they should not make such toxic leveraged products available on their platform to anyone, however experienced they are. They brushed me off when I asked for my principal back and threatened to take them to small claims court.
What Type of Broker is LimeFx?
DailyLimeFx adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. 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.
However, the range of topics covered is relatively limited and lacks material on financial guidance and goal planning. Tools, calculators, https://limefx.group/ and research functionality is limited as well. A narrow range of available asset types is further restricted to 2,094 stocks and 251 ETFs.
A news and analysis tab offers a variety of weekly site journals and insights that provide content appealing to different interests, including the Crypto Roundup and The Bottom Line. The LimeFx Club unlocks more news and research features with more money invested on the platform. LimeFx’s fees are in line with most other crypto and trading platforms.
There is a clear divide between the customer service that is offered to current clients and visitors. Apart from a Help Center that offers a list of FAQs and articles on certain topics, anyone that is not a client cannot easily contact a customer support agent. LimeFx’s web-trading is easy to use and great for those with less experience. However, everyone will appreciate its ease-of-use, including more advanced traders.
For US traders, LimeFx only offers real cryptocurrency trading, as it does not have licenses from CFTC and NFA, the two derivatives trading regulators in the USA. LimeFx approaches trading differently than its competitors by allowing you the opportunity to follow and emulate other crypto traders, or even develop a potentially lucrative following of your own. Though LimeFx also offers fractional stock shares and paper trading, it will appeal most to those who are interested in learning how to trade cryptocurrencies or joining a crypto-focused community.
Newcomers to cryptocurrency who want to learn by doing so might be most at home on LimeFx. Generally speaking, there are no reasons for concern – at least no more so than other established platforms with a large customer base. This broker operates in more than 140 countries and has over 11 million clients. The minimum first deposit was reduced in United Kingdom, Switzerland, Italy, Sweden, Ireland, Spain, Netherlands, Germany, Austria, Norway, France, and Australia.
What Can I Trade
You can browse through the profiles of other LimeFx traders, checking their previous performance on an annual and a monthly level. LimeFx offers zero-commission real stock trading.Since May 2020, this is valid for all countries, but for clients from Australia commission-free trading only applies to US stocks. Note that with the free feature, you’re buying the real stock, not a CFD product, and you cannot use leverage. 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.
They are using my money to make profit and there is no sign about getting my money back. Although my account was fully verified and I provided them with every document they asked for, I’m waiting for around 3 weeks for some assistance in this matter, with no success. By the way, I’m a Platinum member and I’m supposed to get priority support assistance, but that’s just a huge lie. Customer Support in LimeFx is ranked good with an overall rating of 8.2 out of 10 based on our testing.
As you can see from this LimeFx Forex broker review, the site strives to make Forex trading fun and appealing to everyone, not just hardcore traders. With their social tools and friendly community, you are likely to feel welcome here regardless of your experience level. Although the platform offers a full access to the Forex market, this LimeFx review will aim to also explain what is so different about this provider.
One downside of this broker is that they offer one single currency base for its accounts, the US dollar. Other brokers offer five or more different base currencies for their. We can all imagine the need for quality customer service, especially as a novice trader.
LimeFx doesn’t disclose order execution quality statistics, but it has a best execution policy and has a very low level of payment for order flow, suggesting that the broker follows it. One of the most helpful features of the platform is a free demo account, which is included for all LimeFx members so they can practice trading before entering the market. LimeFx provides a streamlined onboarding process with a self-guided questionnaire that asks for some personal information to help set up your account. The platform supports a wide variety of financial institutions that you can link up to LimeFx to make deposits into your account. Getting up and running doesn’t take long and you can begin trading quickly.
Read our full LimeFx trading review to learn where LimeFx stands in 2022. Founded in 2007, LimeFx has more than 25 million users in 140 countries worldwide — and the U.S. is now on that list. In 2022, the company began offering U.S. customers access to stocks and ETFs. Previously, while LimeFx ran multi-asset brokerages in other countries, U.S. customers could trade only cryptocurrencies on the platform. A pioneer in social investing, LimeFx offers investors the ability to copy the cryptocurrency trades of pros.
LimeFx provides limited portfolio analysis, especially in comparison to competitor platforms. While you can see current balances and positions clearly, not much exists in the way of further analysis outside of charting features. LimeFx’s charting capabilities are adequate, but give you a better sense of performance as opposed to helping you see where portfolio changes might be needed. LimeFx now offers an options screener, limefx scam after the recent addition of its options trading platform. LimeFx provides all registered users with a Virtual account that perfectly imitates the real account with an initial amount of $100,000 to trial the platform without risking users’ own funds. Copy trading is a portfolio management service, provided by LimeFx Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.