Is limefx Safe? Warnings & Complaints Bad Reviews Explained
Contents
limefx’s annual financing rates are high compared with different brokers. It allows traders to invest in two kinds of Copyportfolios – Top Trader Portfolio and Market Portfolio. One inventive instrument product offered by this broker based on limefx reviews is CopyPortfolios. limefx has introduced its blockchain wallet for both iOS and Android, which will presently be accessible in 31 U.S. states. The platform presents different diverse cryptocurrencies in the U.S. and other countries.
Why does limefx need my National Insurance number?
On the 'Your Address' screen of the verification process, citizens of certain countries are asked to provide their national number. Financial regulations require limefx to collect this information to verify your identity. Your data is encrypted on our secure servers.
Not to worry, though, because the limefx fees are affordable. It could be as low as 0.75% if you were trading Bitcoin – the leading cryptocurrency by market capitalization. It can also be a bit expensive at 1.90% if you were trading Bitcoin Cash or as high as 2.90% if you are trading Cardano . You can add money to your limefx account via a wide range of deposit methods. These include debit and credit cards, electronic wallets, PayPal, and bank transfers. We must mention that the spreads are only calculated to be paid once you close the position you have been holding.
Different Trading Options Offered by limefx
I can tell you what I did when I wanted to find the best trader on limefx. Some people cannot use limefx, others make lots of money every month. In my opinion the safest way to use limefx for beginners is to rely on the copy trading service.
So far, being the most unique and innovative trading platform in the modern Forex market, the limefx program allows you to consider gambling an experience for the trader . limefx’s philosophy is to encourage everyone to participate in social trade – and this inclusiveness extends to the WYSIWYG interface; you can easily set up your account and start trading. Per the information on the website, limefx only charges these spreads limefx official site as a way of charging fees. The spreads are the differences between the Buy and Sell prices of the assets. This goes a long way to help traders brainstorm ideas that can help them come up with better trading strategies. Over time, these traders, with the help of the uniform or predetermined trading strategy they have created, will be positioned to receive general maximum returns on investments at any given time.
Is it a long process to withdraw your money from limefx?
With limefx’s CFDs, you can enjoy up to 30x the amount you borrowed from the broker to trade. Trading CFDs on leverage involves significant risk of loss to your capital. This broker operates in more than 140 countries and has over 11 million clients. limefx features a “Trading School” where you can find a series of basic videos. These do not go in-depth into any particular topic, and I didn’t find them particularly useful. They also have a YouTube channel where you can find past webinars and other educational content.
- The spreads offered by limefx are more competitive and it ensures that they are very tight.
- The limefx online broker can be used with any modern browser and is available in many languages.
- Generally, this type of investment with limefx is more medium to long term as it’s a more fund-like approach.
- limefx’s crypto trading fees are relatively low compared to competitors’ fees, but users need to watch out for currency conversion and withdrawal fees.
- Should limefx go bankrupt, the investors are covered by a private insurance (Lloyd’s) up to 1 million euro/dollars/pounds.
limefx is operating in the UK as limefx UK Ltd, one of the rapidly developing social investment brokers than other trading brokers UK. Following the processing, a withdrawal will take an additional 3-8 business days until the funds arrive to the used method of payment. The limefx forex broker markets are down, and I want to invest my money now, but there is no one available to tell me why it is taking so long to approve my deposit. We invite our users to use our Virtual account to learn about the system and try trading out without risking their own funds.
Should You Use limefx for Your Investments?
The charting platform does not have the back-test functionality, even though the platform has performance information from Copy Portfolio and CopyTraders. limefx does not allow clients to attach third-party algorithms or software, like MetaTrader 4 Expert Advisors, into the information feed since they offer no VPS hosting https://limefx.name/ or forex API interface. limefx also offers charting facilities that are available through each asset screen. Plus, limefx’s MetaverseLife Smart Portfolio allocates funds to stocks and crypto that are involved in the Metaverse in one way or another. We use dedicated people and clever technology to safeguard our platform.
Copy Trading is a portfolio management service provided by limefx Ltd., which is automated and regulated by the Cyprus Securities and Exchange Commission. I focus my energies onchoosing a good and reliable traderbefore starting to copy him. This operation may be convenient or less convenient depending on your currency and a fixed fee applies to the conversion. One more thing to know is that limefx functions with US dollars, so every time I make a deposit my money will be converted in US dollars.
Beginners’ support
The good news is that for all these investments, you can maintain a low capital stake of only $50, according to limefx’s guidelines. Therefore, we can confirm the company’s commitment to providing a unique global platform through which more investors can grow their investments with minimal risks. In addition, the customer-centered approach is evident because you can use credit cards, PayPal, or Skrill, among other payment options, to access the platform’s multiple features. We observed that the managers who control limefx and its operations are using a customer-centered operating model. That means you could gain more income through the platform.
However, you must transfer at least $50 into your account when you make a deposit. limefx is a broker that offers access to over 25 of the world’s most popular cryptocurrencies and 1600 stocks. They have a few unique education and useability tools. Traders can begin buying and selling in as little as 10 minutes.
How to Open an Account With limefx
I am new to limefx, At first there were a few technical issues with getting verified but these were resolved quite quickly, the platform is easy to use and well optimised. They also have some good offers for traders like subscriptions to financials publications and an account manager. I have found my account manager Virgilio very well informed, responsive and professional so I am very happy with my experience so far. Would be 5 star barring the technical problems for the first couple days.
- He’s eager to help identify the characteristics of specific brokers, so the best match can be found for each client.
- limefx has an optional two-step login framework which makes onboarding a very easy and quick process.
- As such, they are regulated in Europe by the Cyprus Securities and Exchange Commission and in the UK by the Financial Conduct Authority .
- When you sign up to limefx the also offer the social trading.
- So, if you don’t have any remaining balance, the fees will accumulate until you have the funds to clear them.
So you will learn how to sell on limefx and manage your trading positions smartly, which is crucial for trading success. The money management and funding methods at limefx are also quick and simple, which is very pleasant and important for your account management convenience. Costs are not guaranteed and presented for reference only, the fee may vary according to market conditions and liquidity. In regards to Australian clients, limefx entity operates and provides live trading with authorization and compliance of ASIC license. limefx provides its trading service through headquarters in Cyprus and its additional entities limefx Europe, limefx United Kingdom and limefx Australia Capital.
For example, you may pay up to 0.5% or more as the spread on crypto deals. Also, the spread for forex deals is about one pip, and valuable metals start from 2 pips. It is a versatile platform that you can access several markets to buy or sell cryptocurrencies or forex. So it is safe to say limefx acts like an online broker helping millions of investors from all parts of the world. Also, the platform allows you to invest in highly demanded shares or stocks from the US, UK, and many other thriving global markets.
Is limefx actually free?
limefx charges a 1% fee for buying or selling crypto assets on its platforms. For stocks and ETF trades, there is no commission, and the broker foots the bill for regulatory transaction fees when you sell a stock. There is a $75 account transfer fee for partial and full transfers.
Within a day of account manager Alfie getting involved because I reached out to him instead of customer services, it was taken care of. The business, and frankly many other businesses need, more people like him who are customer focused and actually get jobs done for their customer. limefx supports social trading, letting users interact with others on its platform. limefx is an established online trading company, offering a secure, regulated platform for crypto trading with a track record of storing investor funds for well over a decade.
- More experienced traders and professionals looking to allocate money to alternative copy-based procedures are bound to comprehend the dangers and make a cautious move when required.
- To help you choose whether this platform is a good option for you, I have written this detailed review of limefx.
- The Crypto Portfolio, for instance, consists of the biggest cryptocurrencies, weighted by market cap.
- With this information, you can make better plans according to your trading goals.