LimeFX Forex Broker: Can We Trust It or This Is a Scam?

The content of the article:

A lot of people say that LimeFX is a scam. However, this is a false statement because this company is regulated by CFTC. This is a reliable regulator created by the USA government. This company offers many different services, such as educational center, SMS analytics and others.

Today, we want to prove that LimeFX is an honest broker. 

LimeFX Review: Information About This Company

LimeFX is a broker with one of the highest growth levels. Every day, this company becomes more and more popular. The year of creation of this broker is 2008. This company was developed by a group of real experts in the financial market. First, this company gave a very narrow assortment of financial services and only for European and American people.

Now, the area of services is growing. Today, people from Russia, Ukraine and other post-soviet countries can also trade with this company. The list is expanded every day. 

There are a lot of services that this company offers: Forex, binary options, stocks, indexes, etc. The declared advantages of this company are:

  1. All operations are provided honestly. You can be sure about the quality of the services.
  2. This is an ECN broker. It means that this company doesn’t trade with clients and doesn’t make any orders with them directly. All traders trade between them. The broker doesn’t have a possibility to change the prices manually.
  3. The high level of protection of the data. 
  4. All orders execute fast. 
  5. One gets a personal manager. This is a significant advantage for beginners because your manager not only gives advice on trading but also teaches you to trade. It allows you to become more professional with time.
  6. A detailed trading history is available. You can understand when you were successful and when you weren’t. 

One of the most interesting features that this company has is investor simulator. This service allows you not only to get a certain level of knowledge but also you get all money you earn and if you lose, the broker returns money to you. This is a very necessary safety pillow for beginners. Money is returned as a bonus.

Not only your own manager helps you to make profitable orders. Also, there is a perfect educational center where you can find all necessary texts, webinars and other different content to help you become the best trader. You can read analytics, watch videos and get experience. To get access to all these features, register on the LimeFX official site – and then enter your LimeFX login and password.

LimeFX Forex Review: Types of Accounts

Creators of this company offer you many account types that are appropriate for traders with different amount of money and qualification. You need only 5 hundred dollars to start. Thanks to great leverage, you can earn more money than you can without it. At the same time, remember about risks associated with leverage. 

You can increase both profit and risks with it. For example, if you choose the 1:100 leverage, you increase your profit by 100 and you can lose 100 times more than if you traded with your own money. You should understand it because a huge part of unsuccessful traders say that broker is scammer due to this when they are just not experienced enough. They blame other circumstances as a reason for their fails. You should not do the same if you want to earn money. The most expensive account type requires $50,000 as a first deposit after registration on the site.

You need to follow these steps to create an account: register, choose an account type and make a deposit.

There are also VIP accounts that have more advantages, such as priority in receiving money. There are the following types of VIP accounts. Each has a certain number of additional options:

  1. Silver. You can work with your personal analyst. Don’t forget that only you are responsible for your result. Thus, you can’t make other people responsible for your profit. All of us are only people, and you need a personal analyst as a person who can help you. Two smart people is better than one. Right?
  2. Gold. You have all advantages that are in the previous account type, but you can also get an account review every week. 
  3. Platinum. Professionals create a trade plan four times a year specifically for you.

These are unique features of every VIP account type. Also, you have these advantages:

  1. You can contact your personal expert to develop your personal trading strategy. 
  2. You can see a demonstration of the trading process in real-time.
  3. There are a lot of different trading instruments that allow you to create any investment portfolio you want. There are both high-risk and low-risk types of assets. You can choose them according to your wishes. If you want to be more stable, stocks are a good choice for you. If you want to increase your income fast, you can trade very volatile assets, such as cryptocurrency. More than 180 trading instruments are available to you. That’s why you can be so flexible.

Investor simulator is more attractive if you are a VIP-account owner. The reason for this is the help of a real personal analyst. You don’t need to try to guess the direction of certain asset price movements. You have a professional economist who can make a prognosis about the prospects of this financial instrument based on the technical and fundamental analysis. The specialist will certainly increase your chances to get a bonus after the 2-week term. 

One of the special features is an Islamic account. If you are a Muslim, you can be sure that you don’t violate Sharia law. If you want to create this account, you should contact your personal manager. 

As for payment methods, they are very diverse. You can pay using a debit or credit card and popular payment systems. 

Myths About Trading

Some people think that trading is an unprofitable process fundamentally because of a lot of myths. They are spread because people who can’t trade think that broker is irresponsible. Let’s review some myths:

  1. Trading is a kind of gambling. This myth was created because the trader’s level of knowledge was low. Trading and gambling look similar, but they are fundamentally different processes. When you gamble, you try to guess. The result doesn’t depend on you. Trading requires a qualification in comparison to gambling. Gambling is about luck, trading is about success. The difference between these words is very big. Yet, you should understand that there are a lot of factors that are not up to you. This is a political situation, social factors (such as epidemic, criminality), economic factors, etc. You can analyze them, but if they are unexpected and spontaneous, it’s very hard to understand what they can lead to.
  2. Trading is successful fundamentally. No, it is very difficult. You won’t find a reliable company that says that you will definitely be rich when you become a trader. If you hear that, this is one of the most distinctive characteristics of a scammer. All people make mistakes, even real professionals. The broker is only able to help a person, but can’t guarantee a definite success. Like any traditional profession, you need to work long and hard if you want to earn large amounts of real money.
  3. There are assets that grow regularly. This statement can be true, but only if we talk about short and medium terms. In long-term prospects, all assets will eventually fall. It occurs sooner or later, but it does happen. You should predict price changes if you want to make correct analytics. 
  4. When the price is high, this is the best moment to buy financial assets. No. After a very high price, assets usually fall. That’s why so many people lose in the financial market. They buy currency, stocks or cryptocurrency when the price is the highest and after buying it goes down. You can lose all your investments this way, especially if you use leverage or trade volatile assets. When the price is the lowest, this is the best moment to trade. After this point, it always grows. Even in long-term prospect, it will continue falling. 
  5. Trading is easy, and you can minimize all risks. We said above that there are a lot of external factors that affect your success. The higher the profitability, the higher the risks. 

If you are a beginner, you are supposed to start trading from less risky instruments and take on more risk as your experience grows. Don’t forget about less risky assets in your investment portfolio, even if you are an aggressive trader.

Does LimeFX: Cheat or Not?

No, LimeFX can’t be called a scam because of many factors, such as:

  1. This company warns you about risks. One of the most significant characteristics of dishonest companies is their generous promises. No one can guarantee you success, as we said previously. Unfortunately, a lot of beginners and inexperienced traders trust them.
  2. This company is regulated by CFTC. This is an American government agency that controls financial markets. 
  3. The ratio of positive and negative reviews. Some of them are neutral, but the number of negative is very low, and they are about insignificant factors that don’t bother other people. This is important because scammers always have many negative reviews. 
  4. This is an STP company. This is the technology that allows people to trade with other people directly. The broker only helps them find each other. Also, this technology can provide the best price for every trader. It protects traders from manual price regulation. 

To realize why this company isn’t a scam, the STP technology is crucial to understand that we’d better describe it in more detail. 

What is an STP Broker?

We know two types of intermediaries in any financial market. The first is a dealer. This is a company that buys assets on the financial market and sells them at the price it sets on its own. This is the biggest problem of dealers. They can set an unreal price and find a person who is willing to buy financial assets at such a price. That’s why you can’t trust dealers. When they lose, dealers can set the price at any level. They are not scammers, but this fact increases the unreliability level of certain companies. You’d better not collaborate with this type of intermediary. 

In comparison to them, brokers are more reliable. They get the information about the price from the market makers – big banks and other subjects who create the market. 

STP is the type of NDD technology. It allows other traders to offer their price and wait the moment when other members buy assets at it. Market makers only confirm the operation. 

With this technology, the broker can guarantee the most honest price, and it is similar to the price of financial instruments that are sold by other intermediaries. The only difference is in the commissions. They can affect the price but within a narrow range. 

Many people say that brokers trade with you as an argument of why Forex is a scam. Yes, this is characteristic of dishonest companies, but STP broker doesn’t trade with you. There aren’t any conflicts of interest. 

Trading Platform

LimeFX is a broker with its own platform, so you can use a developed infrastructure. This platform has these advantages:

  1. Universal. You can use it from any computer you want from different points of the world. This is comfortable. You can trade from different resorts and while you are going to the workplace. Also, this platform is compatible with all computers and smartphones because of a web-interface.
  2. Demo-account. This is your additional feature for studying. You can improve your skills not via investor simulator, but also a demo account. You don’t risk anything, but you have an opportunity to test your strategy and train your skills. You are supposed to trade via a test account if you are a beginner because it will protect you from different issues in the future. You can trade without any emotions, just your logic. This is a very important skill for trading because psychological factors are 60% of your success. 
  3. Large number of trading indicators. These are tools that make the market more understandable. For example, you can understand real tendencies better if you use the Bollinger Bands or Moving Average. Using the RSI indicator, you can predict the future trend. 
  4. Flexible interface. For example, you can set up the time frame, diagram view and many others. 

Special Features

This company not only proposes you to trade Forex assets. You can be a binary options trader. This type of financial instrument is riskier, and if you are a beginner, you should not use it. Binary options can bring you money faster than classical Forex or stock exchange because you need only some minutes to finish your order.

The principle of binary options trading is simple. You try to predict the direction of the price movement of a certain asset: stocks, currency, cryptocurrency. If your predictions were correct, you would get a certain part of your investments (about 70-80%). If you lose, you lose. 

One of the most interesting services of this broker is SMS analytics. You can get the trading signals via text messaging. You don’t need to wait for the perfect moment to make an order. That’s the best advantage of this service. Even if you are a beginner, you can get profit from the financial market. Nevertheless, you’d better improve your skills and check the signals. Remember: only you are responsible for your result. The company helps you, but you should think about your personal strategy. Some of these signals are better for aggressive traders, some – for people who like a more patient workstyle. 

LimeFX Customer Reviews

Reviews can help us to understand the advantages and disadvantages of the LimeFX Forex broker and ensure that it isn’t a scam. Usually, people say that a certain broker is a scammer if it really is. There are a lot of positive and neutral reviews about LimeFX, but the number of negative is very small.

Let’s look at the facts in these reviews, which are more important for us if we want to ensure that this company is totally reliable.

Positive reviews

  1. I have been collaborating with this company for 7 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 is 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 high quality of SMS signals. I get a profit thanks to them regularly. 
  2. 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 my 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.
  3. 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 reviews are good. We see that people have good experiences of trading via LimeFX. Yet, some people aren’t satisfied working with this broker as much. Let’s consider their reviews. 

Neutral 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.

  1. 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 not longer one of them. However, I used this feature and was able to earn money and got them to my credit card. 
  2. 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.
  3. There are many profitable financial assets, but their managers are awful! They drive me crazy! I have never heard 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.
  4. This is a reliable and honest company. They always paid me on time, although it took very long. Can you make it faster?

We see that everyone, despite the disadvantages, continues working with LimeFX. This is a great signal.

Negative reviews

Negative reviews are the most important to understand how reliable this company is.

  1. Slow withdrawals. This is very bad for me. I don’t want to work with a company that gives 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. 
  2. 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 see, no one said that LimeFX is a scam. You can trade using the services of this broker. 

LimeFX: Scam or Not

As we see, no, this isn’t a scam. Negative reviews can exist, but there isn’t any trader who was deceived by this company. No one said that FimeFX lies or that LimeFX fraud. Go to the LimeFX site and check it out for yourself.