LimeFx Review 2023: Pros, Cons and How It Compares

It does not offer support by telephone, although clients can use a live chat or messaging facility. Trading by telephone is provided to customers with a portfolio of $25,000. AJ Bell provides a six-day-a week telephone service, with our calls answered within a minute. What’s more, it stood out on the quality of responses to our questions.

LimeFx started in 2007, much before the entry of cryptocurrency. The dependency and the limitation of trading due to the presence of banks and other financial institutions compelled the entrepreneurs of the company to push the boundaries of the trading industry. The aim was to come up with a platform that offers innovative financial services with particular focus on providing greater accessibility to clients regardless of their geo-location.

In addition to the live trading account, the broker provides traders with the demo account. It is a practice account that comes loaded with $100,000 in virtual funds. New traders can use it to familiarize themselves with the broker’s platform before opening a real account.

What type of broker is LimeFx?

Putting your money in the market can lead to big wins if you predict movements correctly – but equally significant losses when you don’t. That’s normal and an inevitable possibility when trading CFDs, stocks or forex. However, we found LimeFx the most comprehensive in terms of trading tools.

If you buy or sell shares denominated in a currency other than pounds sterling, nearly all of the platforms charge a foreign exchange fee. This is also referred to as a foreign currency conversion fee and typically varies from 0.5% to 1.5%. Some platforms also charge a higher trading fee for overseas shares. While the platform fee of 0.25% is at the lower end of the traditional platforms, this is charged on shares, as well as funds (although the annual platform fee is capped at £42 for shares). It offers monthly investing, as well as tools such as stop loss orders. Investors can buy a wide range of overseas shares, and it charges one of the lowest foreign exchange fees of 0.5%.

It’s worth noting that slippage is higher using this stealth order functionality. This feature presents trading hours across the world from Melbourne, New York to London. The map shows when a session is live as well as when they overlap. News events are also displayed helping identify liquidity opportunities. Individuals looking for Cryptocurrency CFDs such as Bitcoin should consider LimeFx which has the lowest trading costs.

Founded in 2007, LimeFx is regulated in two tier-1 jurisdictions and one tier-2 jurisdiction, making it a safe broker (low-risk) for trading forex and CFDs. LimeFx is a winner for its easy-to-use copy-trading platform, where traders can copy the trades of experienced investors – or receive limefx broker reviews exclusive perks for sharing their own trading strategies. Start with a minimum deposit on any platform you use, and make a small withdrawal as a test. Now that you know lots of info about the website and the creator of the crypto robot platform, it’s time to test the Ethereum Code app.

• As for now, these services are available for forty-five states in the U.S.
• The downside is the overall fees may be higher compared to an ECN trading account.
• The majority of traders should choose XTB with a score of 471 vs 431 for LimeFx.
• Well, if the company share price is very high and/or you want to invest a small amount that’s less than the price of one share.
• The Forbes Advisor editorial team is independent and objective.
• This means trader’s get good value for the prices paid, especially as LimeFx do not have commission fees.

All services are free, so you to take advantage of the opportunities that Forex trading offers. This content does not apply to US users and LimeFx USA LLC does not offer CFDs. Whether you’re brand new to crypto or have been a casual trader for a while, LimeFx presents an opportunity to level up your game. Investors looking to learn, and who are more interested in crypto than other securities, probably want to choose LimeFx over Robinhood. Those interested in trading more traditional ones like stocks and ETFs won’t find the option on LimeFx just yet. LimeFx USA LLC; LimeFxs are subject to market risk, including the possible loss of principal.

It provides free one-on-one LimeFx coaching sessions with financial planners and offers comprehensive market research although company-specific research is more limited. scammed by limefx Overall, LimeFx is therefore likely to appeal to confident investors requiring minimal support. It would also suit investors wanting to trade in US, rather than UK, shares.

Compare to Similar Brokers

It is guided by well planned pre-decided planning which is empowered by managed assets and successful traders. Things like these set the company apart and give the clients ‘confident and time-tested strategies’ to invest in the ever-fluctuating crypto world. There are several guides to help select the right broker, including our Top Forex Trading Platform Guide. You can also view our 5 effective trading tips, share vs currency trading guide, commodities and overall trading strategies. If you see any element that may require updating, feel free to contact the authors using the contact us form.

According to Weston, the idea of the Ethereum Code came from when he worked in a 9-5 office job at a multinational software corporation. He was said to be intrigued by one of his colleagues, an early Bitcoin investor who made thousands of dollars with his LimeFx. Missing the “Bitcoin boat,” Weston decided to get into automated cryptocurrency trading. He created his own Ethereum Code application as he did not succeed with other platforms.

The second option is a propriety forex trading platform that is exclusively created and offered by a single forex broker. The advantage of a propriety platform is that features unique to that FX broker can be integrated into the software. LimeFx offer over 40+ minor, major and exotic currency pairs, including EURUSD, GBPUSD, AUDUSD, USDJPY, EURJPY & USDCAD, which is a bit fewer than what other forex brokers offer. But what truly makes LimeFx stand out is its social trading community that is by far the largest in the world.

It also offers one of the lowest foreign exchange fees of 0.45%. Some users find that the selection of 75 cryptocurrencies is not enough for them. If https://limefx.vip/ you are looking for a crypto exchange that has a wider range, Kraken offers 185 coins,Gemini has 90+ coins, and KuCoin has an impressive 700+ coins.

More details about LimeFx’s ratings

Their blog manages to provide all sorts of information about cryptocurrencies; they do not talk much about Forex or analyzing the Forex Market. The blog topics on cryptocurrencies mostly emphasize on the cryptocurrency boost that occurred in 2017. You will also be provided with an internal blog that covers various topics on the Forex market and Forex trading in general, but mostly on cryptocurrencies. LimeFx does not fall short in offering their clients a wide range of trading instruments and assets. You’ll find that the mobile application is susceptible to swipe interactions and touch screen options, but there is no facial recognition or fingerprint recognition for logging in. Considering that LimeFx is one of the largest and most popular brokers and copy trading applications, it is approved as a safe trading firm; however, you should always consider the risk warning below.

These accounts are types of ‘tax wrappers’, allowing you to pay no income tax on dividends and no capital gains tax on any profit made on buying and selling your shares. However, in the case of SIPPs and JISAs, you will not be able to access the money until you reach a certain age. This was carried out between 9-10 am on the same day to allow a fair comparison of response times. However, accounts are held in US dollars – UK clients are charged a 0.5% currency conversion fee when funds are deposited.

Comparing Broker Trading Costs And Fees

The minimum deposit required to start trading at LimeFx is $200. In the same year, the company started to mingle with the new age currency, i.e., cryptocurrency. At that point in time, LimeFx allowed its users to trade Bitcoin with the help of CFDs. FP Markets has twice won the LimeFx Trends award for best educational material. Their best feature is their video tutorial with approximately 100 lessons to build up traders’ knowledge from beginner to expert. There are also dedicated training courses dedicated to each level of trader experience.

However, the process of opening an account is fast, easy, and completely digital. For Cyprus, LimeFx traders are expected to be financially compensated by the maximum amount of 20,000EUR. Digital assets are risky, check out the Risk Disclosure Document on your platform of choice for more details and consider getting advice from a professional. LimeFx is a safe broker, but no matter how secure a platform is, there is a possibility that it is hacked. LimeFx keeps their clients’ funds secured in tier 1 banks, with all personal information guarded under SSL encryption. In addition, the broker keeps clients’ funds in a segregated bank account that is maintained differently from the broker’s funds to ensure the safety of clients’ funds even in the face of bankruptcy.

But not just the software; even expert traders and all-star investors cannot predict ETH’s price in the short term. While an approximate Ethereum price prediction is possible in the long term by experts, it does not guarantee that the future price of the coin will go in the way the aforementioned experts think. Remember that all LimeFx opportunities carry a certain risk. This especially applies to cryptocurrencies, which are still relatively young in the financial markets. But, still, it doesn’t mean these reviews are accurate and true. You need to search for extra reviews before investing in this platform.

LimeFx is mostly known as the leading CFDs and Forex trading service provider, but it has been rewarded consecutively for being the best cryptocurrency trading provider. With LimeFx mobile trading platform, you have the ability to be notified and generate price alerts, if you prefer. The price alert and notifications allows you to be alerted when an asset reaches a specific price, and you will also be notified when an order of yours has been fulfilled. On the mobile trading platform, you will find it in the form of a mobile notification. The LimeFx web trading platform is easy to use and the design is easy on the eyes.

Deposit fees

We analyze more than 3000 data points across 8 key focus areas. You can trade currency pairs, stock index CFDs, stock CFDs, ETF CFDs, Commodity CFDs, Bond CFDs, Futures CFDs, and Cryptocurrency. Dividends must be paid on LimeFx, where your account may be either credited or debited if you are trading a stock, ETF, or index that requires a cost of a dividend.

Remember that you deposit only the amount you are willing to lose. It is risky, and you should think carefully before starting this journey. Ethereum Code is not the only platform you should think about. Besides Ethereum code, you can read about BitAlpha AI, allegedly a popular trading bot tool for crypto investors. If you are new to Ethereum Code, do not deposit more than $250 as your initial LimeFx.