LimeFX is an online brokerage that provides trading services for Forex and CFDs. The online brokerage takes pride on its team of developers and professionals, whom they claim is one of the company’s strongest points. The LimeFX Forex broker uses the MetatTrader4 (MT4) trading platform and claims to incorporate cutting-edge and innovative technologies to simplify and make the trading experience as convenient for newcomers. Furthermore, they all the while retain the advanced and sophisticated charting and technical tools for the more seasoned and professional trader as well.
As for those who are very new to the trading industry, LimeFX puts a good share of its priorities to make their novice clients much more confident in the market. With a wide array of educational materials, market forecasts, automatic market analysis, and personal analytical services, LimeFX makes it simpler for all its clients who do not possess the time or experience to monitor the situation on their exchanges.
However, while LimeFX does get its share of positive user reviews, there is also an equal number of negative ones around as well. In this LimeFX review, we will take a brief look at some of the features and services that this online brokerage provides and see if it does hold up to its reputation or not. In addition, we will investigate into its history to see whether the broker is a safe choice for traders or not.
LimeFX Customer Reviews
As online brokerage reviews can always be forged, it is imperative to check what other clients say about a broker. Interestingly enough, there are an equal amount of positive and negative LimeFX customer reviews that can be found on a majority of websites. While it is possible that some of the claims may hold some weight to it, we will address the matter in a fair light when reviewing the broker in this LimeFX review.
As with most online brokerages, the LimeFX forex broker does get its fair share of fraud and/or scam claims from its customers. However, with the reviews delving into both extremes as well as the lack of any coverage of reported incidents, it can be hard to pinpoint if LimeFX truly is a scam or not.
However, looking at the broker in a fair light, we will briefly delve into how LimeFX operates and what it offers.
LimeFX: Services and Offerings
While LimeFX forex broker offers the following services to clients residing in almost any part of the globe, some offers may differ depending on the location of the client. Services are also blocked for residents in the United States due to legal restrictions.
• Trading Instruments
LimeFX offers a decent array of Forex pairs (Major, Cross, and Exotic), Indices, CFDs, Energy, as well as other popular stocks CFDs of comp
• Account Types
LimeFX offers five account types – the Mini account, the Standard account, the Silver account, the Gold account, and the Platinum account.
The Mini account and the Standard account can be opened with a minimum $500 deposit. Both accounts offer a startup bonus of over 50%.
The Silver account can be opened with a minimum $750+ deposit. Here, clients can trade with an opening bonus of up to 100% and can have access to a personal financial analyst.
The Gold account can be opened with a minimum $1,000+ deposit. Here, clients can trade with an opening bonus of up to 120% and can have access to a personal financial analyst, a half-hour review of a trading account with the analyst once a week.
The Platinum account can be opened with a minimum $2,500+ deposit. Here, clients can trade with an opening bonus of up to 120% and can have access to a personal financial analyst, a two-hour review of the account with the analyst once a week, a quarterly trading plan.
Meanwhile, the VIP account can be opened with a minimum $2,500+ deposit. Here, clients can trade with an opening bonus of up to 120% and can have access to a personal financial analyst, a two-hour review of the account with the analyst once a week, a quarterly trading plan, personal strategy development, real-time demonstrations, high priority for trading with a financial analyst, as well as VIP tools for trading.
• Trading Platform
LimeFX mainly incorporates the MetaTrader4 (MT4) trading platform by MetaQuotes. MT4 is one of the leading trading platforms in the industry, most notable for its easy-to-use interface, lightning-quick execution time, and flexible customizability. It features real-time market quotes as well as over 80 pre-installed technical indicators, charting tools, and automated trading options, to name a few.
It is available for desktop, web browser, and mobile for iOS and Android.
• Payment Options
Payment options include credit/debit cards, bank wire transfers, and online payment services. Deposits and withdrawals can also be done with cryptocurrency.
Withdrawals are usually processed within the same day, though it could take more if requests are done outside of business hours. Bank transfers usually take one to three business days to process, though some options can take a few seconds.
There are no fees for deposits; however, bank processing fees may apply depending on which service has been chosen. Online payment services may charge additional fees for deposits or withdrawals.
Most of the details listed above may often be subject to change. Therefore, for updated information, please look into the Global Prime’s official website.
LimeFX: Is it safe?
Many offshore brokerages have been able to pull off many scams in the past due to the lack of proper jurisdictions in the area. This can ruin the reputation of many legitimate brokers. In order to guarantee their legitimacy, they obtain licenses from financial authorities. These authoritative bodies investigate the broker’s operations and only give out licenses if it passes industry standards. Unfortunately, LimeFX is not regulated by any well-known financial entity. This can be a major turn-off for clients who value safety and security over their funds.
While LimeFX is a registered company in St Vincent and the Grenadines, there seems to be a lack of any evidence of the online brokerage being regulated by any authoritative financial entity. This would mean that any potential client could be a target for a sort of LimeFX scam due to a lack of jurisdiction.
In addition, its clients’ funds are kept in a segregated Westpac accounts, preventing the broker from using the funds to fulfill corporate obligations such as debts, etc.
In conclusion to this LimeFX review, the broker provides moderately adequate services in line with a good array of financial instruments. One of the major highlights of the LimeFX forex broker is the scope and availability of its educational materials. With its educational materials, and automatic trading analytical tools, the broker is able to make a convenient and comfortable trading experience.
However, due to a lack of any proper regulation from any reputable financial authority, LimeFX may not be a safe broker to trade with. But with any lack of news of any major LimeFX scam, it can be much safer to join this broker at your own risk.