LimeFX Forex Broker Review
Many people cluck their tongues and shake their already made-up heads when the topic of LimeFX crosses their path. LimeFX scam is a phrase most often heard. But as this write-up makes clear, the phrase is an ill-conceived idea stemming from a misunderstanding of how Forex trading works. Worthy of note here is LimeFX’s regulation by the CFTC. A reliable regulator by all definitions, CFTC is sanctioned by the United States government.
In its artillery, LimeFX boasts numerous offers such as a comprehensive educational center, SMS analytics, Investor Simulator, STP technology, to mention a few.
This short but substantial write-up seeks to prove LimeFX’s honesty, even going to lengths to say LimeFX is one of the best and most reliable brokerages to date
LimeFX Review: All About The Brokerage
Gaining traction daily through the online grapevine and word-of-mouth, LimeFX stands as a broker with high growth levels. LimeFX seems to catch on popularity at an exponential rate.
The year 2008 saw the broker’s founding by a group of financial experts. Preliminarily, LimeFX provided a very narrow assortment of financial services meant only for Europeans and Americans.
Now, LimeFX’s scope of territories has grown vastly, its services steadily advancing. At present, people from Russia, Ukraine, and other post-Soviet countries are already able to conduct trades through LimeFX. The list of countries only gets longer with every passing day.
LimeFX has a lot of services in store for its users like Forex, binary options, stocks, indexes, etc. Trading through the brokerage allows for a number of already declared advantages:
- All operations mediated by LimeFX are conducted honestly. Traders are assured about the quality of services.
- LimeFX is an ECN broker. It means the company does not have the capability of trading directly with clients and does not lodge any orders with them as well. All traders trade between them. The broker does not have any capability of changing prices manually.
- LimeFX offers a high level of data protection.
- All orders through LimeFX are executed fast.
- A trader is given a personal manager upon signing up with LimeFX. Such is deemed a significant advantage for beginners because a manager not only gives advice on trading but also teaches how to trade effectively. It allows a trader to become more professional throughout their time together.
- LimeFX makes a detailed trading history available. Through its online records, users can understand what made them successful in trade and why another turned out to be a failure.
One of LimeFX’s most interesting features is the Investor Simulator. The feature allows traders not only to get a certain level of knowledge but all the money earned. Should the trader lose, LimeFX returns all the funds. The safety net is all too necessary for beginners, quite a generous gesture from the broker. The money is thus returned to the client as a bonus.
Not only does the client’s own manager help in making profitable orders, but substantial educational materials are made available as well for the client’s purpose. Ebooks, webinars, and other content are in abundance within the LimeFX Educational Center to help traders become the best in the trading industry. Through the segment, traders are privy to reading analytics, watching videos, and getting appropriate trading experience. To access all these features, register now on the LimeFX official site – https://limefx.com/ and then enter the necessary LimeFX login and password.
LimeFX Forex Review: Types of Accounts
The creators of LimeFX offer traders many account types appropriate for their level of experience as determined through the different amounts of money required as an initial deposit and the qualifications delineated to open an account. Interested parties need only 500 USD to start. Thanks to competitive leverages, LimeFX traders are in on earning more money than they can without it. But at the same time, traders are recommended to remember the risks associated with leverage.
LimeFX traders can increase both profit and risks with leverages. For example, if traders choose a 1:100 leverage, these parties increase their profit by 100 while being open to losing 100 times more as opposed to trading with their own money. This begs complete understanding because a huge number of unsuccessful traders say that brokers are scammers due to this when they simply have not experienced enough. These traders blame other circumstances as a reason for their failures.
LimeFX’s most expensive account type requires $50,000 as a first deposit after registration on the LimeFX.com site.
Traders need to follow these steps to create an account at LimeFX: register, choose an account type and make the necessary deposit.
Through LimeFX, there are also VIP Accounts that have more advantages, for instance, priority in receiving money. There are three different types of VIP accounts. Each offers a certain number of additional options:
- Silver. Through LimeFX Silver Accounts, a trader can work with a personal analyst. Bear in mind that regardless of trading turnout, the trader is responsible for it. Thus, traders cannot delegate blame or credit to other traders for the gaining or loss of potential profit. The trader, being just a human who is susceptible to human errors, needs a personal analyst for good decision-making. Two smart people are better than one, after all, right?
- Gold. LimeFX Gold Account traders are in on all the advantages offered by the previous account type. The additional aspect of a Gold Account is a weekly account review.
- Platinum. Through LimeFX Platinum Accounts, the firm’s professionals create a trading plan four times a year for the trader.
Opening a LimeFX VIP Account opens traders to a number of notable advantages. Enumerated below are some of them:
- LimeFX Traders can contact their personal experts to develop a personal trading strategy.
- Traders can see a demonstration of the trading process in real-time through LimeFX.
- LimeFX has a wealth of trading instruments that allow traders to create an investment portfolio. There are high-risk and low-risk types of instruments. Traders can choose them according to their wishes. If the trader wants to be more stable, stocks are a good choice for them. If the trader wants to increase income fast, traders can trade very volatile assets like cryptocurrency. LimeFX boasts of over 180 trading instruments, making its clients extremely flexible.
LimeFX’s Standout Features
- The LimeFX Investor simulator is all the more attractive if the trader is a VIP Account owner. The reason for this is the provision of a personal analyst. A trader need not attempt to guess the direction of certain asset price movements. A trader is provided a professional economist who can make a prognosis regarding the prospects of financial instruments based on technical and fundamental analysis. The specialist will certainly help traders increase their chances of getting a bonus after the 2-week term.
- One of the special features offered by LimeFX is the Islamic account, otherwise known as Swap-Free accounts. If traders are Muslims, they are assured that the practices within LimeFX do not violate Sharia Law. Should a trader elect to create an Islamic Account, the trader is advised to contact a personal manager.
- LimeFX payment methods are highly diverse. Traders can pay using a debit or credit card and popular payment systems.
LimeFX Tells the Truth: Glaring Myths Regarding Trading
Quite a number of people think that trading is an unprofitable activity fundamentally because of a lot of myths and disinformation that are making rounds online. These myths are spread because people who do not trade automatically think brokers are irresponsible entities, even to the extent of being fraudulent. Let’s review some of these myths and try to dispel them while we are at it:
- Trading is a kind of gambling.
The myth was born out of a trader’s low level of understanding of the industry. Trading and gambling tend to look similar, but they are completely different processes. When a person gambles, guessing, sheer luck plays into the process. The result simply does not depend on the gambler. Trading, on the other hand, requires a specific set of qualifications. Gambling is about luck, whilst trading is about success. The difference between these words is huge. Yet, a trader should understand as well that there are a number of factors that are not up to the trader. Political events, social factors (such as an epidemic, criminality, etc.), economic situations, etc., factor into the success of trade as far as market prices and demand and supply is concerned. Traders can analyze them, but if these prove unexpected and spontaneous, it’s very hard to understand what these events can lead to.
- All trading activities would eventually lead to success.
No. Trading is challenging. Traders will not find a reliable company that can promise automatic and sure-fire wealth. Should a trader hear this from a brokerage, it is best for that trader to run in the other direction. Such promises are one of the most distinctive false promises delivered by a scammer. People make mistakes, even real professionals. Brokers can only do so much by helping a trader. It cannot guarantee, in any way, definite success. Like any traditional profession, a trader needs to work long and hard if the trader wants to rake in copious amounts of funds.
- Certain assets grow on a regular basis.
This statement can be true if we are to talk about short and medium-term trading. In long-term prospects, all assets tend to fall. It will occur sooner or later, but it does happen. A trader should learn to predict price changes to perform sound, objective analysis.
- When prices are high, this is the best moment to buy financial assets.
Not true at all. After posting high prices, assets usually fall. That is why so many people lose in the financial market. Traders tend to buy currency, stocks, or cryptocurrency when the price is the highest, and after buying, it goes down. Traders can lose all their investments this way, especially if leverage is used or volatile assets are traded. When the price is at the lowest, this is the best time to administer trades. After this, it will, more often than not, grow. Even in long-term prospects, assets will continue falling.
- Trading is easy. Traders can easily minimize endemic risks.
Earlier, we mentioned that there are quite a number of external factors that affect your success. The truth is operative: the higher the profitability, the higher the risks. If a trader is still a beginner, it is recommended that trading is commenced through less risky instruments. The trader is advised to take on riskier assets as experience grows. Do not disregard less risky assets in building an investment portfolio; even the more aggressive traders can benefit from this advice.
Does LimeFX Cheat or Not?
No, LimeFX cannot be called a scam in light of many factors. Some of them are mentioned below:
- LimeFX warns traders about risks.
Dishonest companies often make generous promises. To reiterate, no one can guarantee traders’ success. Unfortunately, a lot of novice traders tend to trust them.
- LimeFX is regulated by CFTC.
The CFTC is an American government agency that controls financial markets.
- LimeFX’s ratio of positive and negative reviews.
Some of these reviews are actually neutral, but the number of negative reviews is quite low and is usually about unimportant trading aspects not bothersome to other people. Considerable importance is given to such as scammers are inclined to have many negative reviews.
- LimeFX is an STP company.
STP is a technology capable of allowing traders to transact directly with other people. LimeFX only helps them find each other. Also, the technology can provide the best price for every trader as STP protects traders from manual price regulation.
It cannot be stressed any further that the company is not a scam. Its employ of STP technology is actually crucial to gaining a greater understanding of the fact. For all intents and purposes, we would describe the technology in greater detail in the succeeding segment.
What is an STP Broker?
We know of two types of intermediaries in any financial market.
The first is the dealer. The dealer pertains to a company that buys assets on the financial market and sells them at the price it sets. Such a measure is also the dealer’s biggest challenge. Dealers can set an unrealistic price and find people willing to buy financial assets at such a price. Such causes traders to distrust dealers. When dealers lose, setting the price at any level is at their discretion. While dealers are not scammers, this throws the reliability of certain companies. It is recommendable not to collaborate with such intermediaries.
The second one, of course, is the broker. In comparison to dealers, brokers are seen as more reliable. Brokers get information about the price from market makers like big banks and other subjects who create the market.
We are thus brought to the topic of STPs.
A type of NDD technology, STP allows other traders to offer their price and wait for the time other members buy assets at these prices. Market makers only confirm the operation.
With STP, the broker can guarantee the most honest price, with it being similar to the price of financial instruments sold by other intermediaries. The only difference is seen through the commissions. These can affect the price but only within a narrow range.
Many people say that brokers trade directly with clients as grounds for saying why Forex is a scam. Indeed, such is characteristic of dishonest companies, but STP brokers do not trade with clients. As the matter stands, there are no conflicts of interest present. LimeFX is thus one reliable broker to make trades through as it makes use of STP technology. So when naysayers have their fill of baseless arguments, tell them of the STP technology.
LimeFX Trading Platform
One of the things held impressive about LimeFX is the broker’s provision of its own platform. By providing so, traders are given a chance to use developed infrastructure. This platform has these advantages:
Traders can use it from any computer from different points of the world. This is highly convenient. Traders can conduct trades at the comfort of a resort without compromising quality trades. The platform is compatible with all computers and smartphones, thanks to its web interface.
- Demo Account.
The Demo Account is conducive to studying trades and assets. Through a Demo Account, traders can improve their skills without having to risk anything. Novice traders are at an advantage here as it allows them to test their strategies and train their trading skills. Newbies to LimeFX are advised to trade via a test account as it protects them from various issues moving forward. Traders can trade without any emotions by relying only on their logic. This is a very important skill to have when trading because psychological factors are 60% of the entire formula for success in trading.
- Copious amounts of indicators.
Through the indicators LimeFX provides, traders, can understand real market behavior better. Bollinger Bands and Moving Average step up to the cause. Using the RSI indicator, traders can predict future trends with utmost effectiveness.
- Flexible interface.
Traders can set up the time frame, diagram view, among others.
LimeFX Special Features
This company not only proposes traders to trade Forex assets. Traders may opt to become Binary Options traders. Financial instruments of the sort are riskier, and if the trader is a beginner, it is advised that he does not delve into the asset. Binary options can bring money faster than classical Forex or stock exchange; only minutes are needed to finish the order.
Binary Options trading is actually simple. Traders presuppose the direction of the price movement of a certain asset like stocks, currency, cryptocurrency, and the like. If the predictions are correct, the trader gets a certain part of the investments (about 70-80%). If the traders lose, then it is a permanent loss.
One of the most interesting LimeFX services is SMS analytics. Traders can get the trading signals via text messaging. Traders need not wait for the perfect moment to make an order, making it LimeFX’s best advantage out of the service. Even if the trader is a beginner, profits are still possible from the financial market. Nonetheless, traders are advised to better their skills and religiously check the signals. Remember: only the trader is responsible for the results. Of course, LimeFX helps its clients, but as traders, they are advised to think about their personal trading strategy. Some of these signals are preferred by the more aggressive traders.
LimeFX Customer Reviews
Reviews can help us understand the advantages and disadvantages of the LimeFX Forex broker and ensure that it is not a scam. Usually, people say certain brokers are scammers, if these really are. However, in the case of LimeFX, there are a lot of positive and neutral reviews about it that dispels the possibility of a scam; note that the number of negative reviews is very small.
Let us look at the facts stated in these LimeFX Customer reviews. These are significant to us if we want to ascertain the reliability of this company.
- I have been collaborating with this company for seven months, and I don’t have anything bad to say about it. I am totally satisfied with the work of the trading platform created by LimeFX developers. Collaboration with this company is profitable for me because they offer very tight spreads. Also, I liked my interaction with customer support. It was very polite and solved my problems very fast. I have significant experience. That’s why I was able to get the money from a bonus. It is not a problem associated with the broker. If you are a successful trader, you will be able to do it. Withdrawal is fast, I needed only 3-4 days to get my money. Also, I want to say about the high quality of SMS signals. I get a profit thanks to them regularly.
- I want to describe this broker with the best words. My first trading experience started 1,5 years ago. Since then, I have overcome a lot of difficulties. I lost a lot of money, but now I was able to return everything, and I am making a profit. The first time I tried to withdraw my money, I was full of concerns, but they haven’t been confirmed. I got my money in 3 days. As you can imagine, I was very happy. It was the first money I got via trading. Also, I needed to contact customer support, and I can’t say anything bad about the quality of their work. I am satisfied.
- I was surprised by the speed of customer support work. It was very fast. This is very important for me because trading is not only my full-time work, but I value every minute. When I only started my way as a trader, my personal manager was extremely qualified. I found out a lot of trading secrets from him. When my personal manager didn’t work with me, I had the opportunity to read professional analytics on the official LimeFX website. As for me, 3-4 days for withdrawing the money is good enough. I don’t need to hurry anywhere.
All these LimeFX customer reviews speak well of the broker. We see that people have good experiences in trading with LimeFX. Yet, and as it is, of course, natural, some people are not satisfied working with this broker just as much. Let’s consider their reviews.
People who write neutral reviews are usually more objective. That’s why they are the most truthful. They describe both pros and cons of working with this company.
- I heard a lot of good opinions about this broker and decided to check them out. I can’t say that this broker is extremely fantastic, but I was successful while collaborating with it. I tried the platform created by this company, and my impression is good. I could make orders relatively fast. That’s the main point for me. However, I disliked the withdrawals at this company. I have got money, only later than I expected. They aren’t scammers, but 3-4 days for withdrawal is a lot for me. The main feature of this company is an investor simulator, which is useful for beginners, but I am no longer one of them. However, I used this feature and was able to earn money and get them to my credit card.
- The customer support is way too slow. I understand that it is for safety, but I would like to get my money faster. In other aspects, collaborating with this company is good. This is definitely not a scam. My complaints are about the working process with this company, but it pays and gives honest prices. At least, I haven’t noticed any deceitful actions on its part.
- There are many profitable financial assets, but their managers are awful! They drive me crazy! I have never heard of such annoying managers. I am a real professional and don’t need any help, and like to make decisions autonomously. In other aspects, this broker is good: great trading conditions, fast withdrawals (money doesn’t come immediately, but terms are good enough), plus many different services that make trading more attractive for beginners. Due to these advantages, I decided to continue collaborating with this company. Now, managers don’t disturb me, and I can trade the way I desire.
- This is a reliable and honest company. They always paid me on time, although it took very long. Can you make it faster?
Through these neutral LimeFX customer reviews, we can see that the individuals who have spoken out, despite citing some disadvantages, continue to work with LimeFX. This is a good sign.
Negative reviews are the most important to understand how reliable a company is. The same goes for LimeFX. Below are two negative reviews about the broker.
- Slow withdrawals. This is very bad for me. I don’t want to work with a company that has given me money for so long. I want to get them immediately. I get the money, but I need instant withdrawals. This is a very important feature for me.
- I cannot put into words how annoying the managers are. They want me to invest more money than I am ready. In other aspects, this company is great. But I don’t want to work with a broker who is so annoying, even if it isn’t a scam. It is not for me. Sorry.
As we can see, no one said that LimeFX is a scam. Suffice it to say, traders are in good hands if they elect to trade with LimeFX.
The Conclusion: LimeFX Scam? Most Definitely Not!
Through LimeFX’s standout features and the assessments that it has received, we can confidently say that the broker is not a scammer or a fraud. And while negative reviews about it do exist, there isn’t any trader who had spoken out against LimeFX, claiming that it was deceived by this company. No one in any forum or website has said LimeFX lies or that LimeFX fraud. Go to the LimeFX site https://limefx.com/ and check it out for yourself.