Is LimeFX A Good Broker?

This does not mean that any broker who has MT 4 or 5 is necessarily legitimate, but MetaTrader is a trusted platform. If a broker insists on using only their proprietary platform, be careful. There are high-quality proprietary platforms, but scam brokers can create fake versions that do not do actual trading but instead take money or data.

If LimeFX Review will not release your funds, contact our experts for advice on what to do. Look at the PDFs and the contracts and make sure all of the rules are clearly stated. Ultimately, the goal of regulation is to ensure that currency trading is fair for all parties involved. For instance, in the United States, the Securities and Exchange Commission or the Commodity Futures Trading Commission regulates most brokers. – XTB allows you to trade CFDs on many of the leading cryptocurrencies including Bitcoin, Dash, Litecoin, Ethereum, Ripple, and Stellar.

Can Beginners Trade Forex?

We will help you find alternatives and reviews of the services you already use. All in all, this is not a forex brokerage firm that we would recommend our readers to do business with. Desperation is the quality that attracts scam artists and can cause people to jump into signing up with a broker before looking at their options carefully. And since four tier-one jurisdictions alongside two tier-two jurisdictions publicly trade and regulate CMC Markets, this company is a low-risk option for new traders. A CFD is an agreement between an investor and a CFD broker that says they must exchange the difference in the value of an asset between the time the contract opens and closes.

First of all, remember to take the time and research LimeFX Review thoroughly. Read reviews like this one from experts who have experience dealing with financial services and can tell the difference between reliable and fraudulent brokers. Yes, you can trade forex in the United States as long as you use a U.S.-compliant broker. Look for brokers regulated by either the SEC or the CFTC, as well as international brokers that are accessible to Americans. As we mentioned earlier, Forex.com is an excellent option for U.S.-based traders. Beware of forex brokers licensed offshore, especially in Belize, Vanuatu, and various island nations.

The different types of LimeFX accounts will determine the exact fees you pay. The spreads are higher but commission-free in standard accounts, whereas ECN accounts charge a commission on lower spreads. LimeFX only charges the commission for opening a position, though, and the amount can decrease if you trade more and/or hold a higher account balance. The fees are built into the spread in the case of stock index CFDs. Stock and ETF CFD fees are charged as a volume-based fee, but a minimum fee applies.

Depositing with credit/debit cards and electronic wallets might involve a fee, usually 1-2% depending on your country of residence. For example, PayPal or Skrill charge 2% of the deposited amount for UK customers. Overall our online LimeFX review was conducted with the details obtained from the demo trading and the forex brokers website.

LimeFX provides a client-focused user experience across all these platforms, including a variety of tradable instruments and a 24/7, 14-language customer support desk. XTB is one of the best forex brokers that you’ll find online. They are a regulated forex broker with over 15 years of experience and offices in over 13 countries including UK, Poland, Germany, and France. Their low spreads and high range of assets make XTB one of the most popular brokers to trade with.

File A Chargeback Against Trading Scams

Regulated by the SEC and FCA, Interactive Brokers boasts a huge share of the forex market, covering 134 markets worldwide. If you live in the United States or just like to trade in the U.S. market, you’ll appreciate that IB offers no commission index options on U.S.-listed stocks and ETFs. LimeFX doesn’t have an original trading platform, but its MetaTrader platforms are highly customizable and offer a host of features, including a clear fee report, order confirmation, and price alerts.

This is evident in the presumptuous nature of the brokerage firm as they want money they want to get it by lying. Potential traders need to take limefx scam the time and do due diligence. Before signing a contract, opening an account, and depositing money with a broker, research the broker carefully.

Help future customers by talking about customer service, price, delivery, returns & refunds. BrokerChooser is free to use for everyone, but earns a commission from some of its partners with no additional cost to you . Ádám is a motivated finance expert with over two years of experience in banking and investment, and a professional degree in this field. He’s eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible.

Look And Feel

LimeFX has a number of certifications, including the CySEC, FCA, and BaFin, all of which are aimed at boosting financial transparency and protecting clients. It’s a different question how successfully they execute this. There should also be resources that help clients make effective trades.

  • We show reviews chronologically, and you can filter by star rating, language, location, or keyword.
  • To claim your 50 percent deposit bonus, you need to submit an opt-in form and make a deposit between $200 and $500 within 10 business days of creating your account.
  • Feel free to open demo accounts with multiple brokers to help you make your decision.
  • It’s very important to understand spreads in the FX market, as brokers can manipulate spreads on their trading platforms.
  • There is only one account type you can choose by default, it’s called a Standard account.

It is an interest free or swap free account type, for those who, for religious reasons cannot trade on interest/swap incurring accounts. Offers superior tools for comprehensive price analysis, use of algorithmic trading applications, and copy trading. No rollover fees on long-term positions, negative balance protection, client funds are separate fro m LimeFX’s funds. No, a broker does not lose any money when clients earn profits because the broker is not the counterparty! When you trade on the exchange and you earn profits, the counterparty to your trade loses.

For example, deposit via Sofort is available only for German customers. XTB’s account base currency selection includes USD, EUR and GBP. In addition to these major currencies, HUF and PLN accounts are also available.

For European clients, however, customer service is only available 24/5. Changing the leverage manually is a very useful feature when you want to lower the risk of your trade. Be careful with forex and CFD trading, as preset leverage levels may be too high.

How To Open Your Account

Fixed spreads on major currency pairs trading with the Silver account are roughly 3 pips. Examine LimeFX Review ’s site to see if there are trading tools, stock market such as charts, blogs, demonstration videos, and tutorials on trading. A demo account is also useful to give traders an idea of how to use the platform.

We tested it and collected the options and costs in How to withdraw money on XTB. Here’s our expert view after checking the XTB trading app. The news flow is a mix of recommendations; data releases from the economic calendar; live ‘Traders Talks’; and brief messages about current market developments. Research tools are available in many languages, such as English, Arabic or Chinese. However, when we set the platform’s language to English, we still got the news commentary in our own language.

How To Start Your Xtb Account?

In particular, LimeFX excels at copy trading through software such as ZuluTrade, DupliTrade, MQL5. A copy trading platform allows you to choose an expert trader to follow and then copy their trading movements for a monthly fee. XTB charges low forex CFD fees and provides commission-free stocks and ETFs up to €100k monthly trade volume. Deposit and withdrawal are fast and mostly free, and multiple options are available including credit/debit cards and electronic wallets. In the end, it’s up to you to decide whether or not you can afford to take the high risk of losing money in pursuit of a big payday, especially in the case of CFDs.

For example, if you want to trade a US stock CFD, just click on the stock type and select the US. Enter your bank account details and the amount you wish to withdraw. Lastly, there is a €10 monthly fee after one year of inactivity. XTB deducts the standard 30% withholding tax from dividends coming from US corporations.

We liked the structure of educational texts, as they are grouped based on the user’s trading experience as well as by subject. The texts are high quality, understandable and logically structured. This is a great feature that is not usually offered by other brokers. XTB provides a few trading ideas, which can be found in the news flow. These trading ideas are usually short-term and based on technical tools. For example, when you search for trading ideas about a specific asset, you get a lot of search results and it’s not easy to find the right one.

For example, one forex broker may be FCA-regulated while another is merely registered. The good news is that many trading platforms are configurable so that you can tailor them to your needs. Short for “foreign exchange trading,” forex trading involves exchanging one currency for another in an effort to make a profit. Like stock prices, the exchange rate for different currency pairs fluctuates based on supply and demand as well as on the expectations that the foreign exchange market has of future events.

On the plus side, XTB’s forex CFD fees are low, while many European clients can enjoy commission-free stock and ETF trading up to a €100,000 monthly trade volume. We also liked that the deposit and withdrawal process is fast and mostly free. The account opening process is seamless, hassle-free and quick. On the negative side, fees charged for stock CFD trading are high.

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