Seen as the trading community’s go-to firm for Forex and Binary Options, the LimeFX Forex Boker enjoys a positive reputation and continues to attract more clients.
The question of legitimacy is easily answered through the firm’s regulation and brokerage nature.
LimeFX takes cues from the Commodity Futures Trading Commission or simply, the CFTC. The CFTC is a U.S. Government independent agency founded back in 1974. It regulates the American Derivatives markets which includes Futures, Swaps, and a variety of Options. The singular fact of being regulated by a tenured and stringent financial authority already says volumes about the company’s regard for financial laws.
As a brokerage, it is virtually impossible for LimeFX to scam its clients as it is a Straight Through Processing (STP) broker. STP pertains to a technology that helps traders be protected from potential abuse from their brokers. Being an STP broker, the LimeFX Forex Broker get prices from the market makers like banks and other leading institutions. STPs like LimeFX look into the number of liquidity providers as the safety of clients’ accounts depend largely on it.
All transactions done through the firm are automated. Processing of orders begins upon the traders’ choice of opening a position and its apparent closure. The money that the clients put out automatically goes to a separate account in the world’s leading banks, hence the guarantee that the broker will not be able to have its hands on its clients’ earnings. As this is the case, the broker simply does not trade directly with its clients. They are thus granted anonymity.
Simply put, should a client prove successful in trading, LimeFX will not get a single commission in an STP setup.
Another thing noteworthy of LimeFX’s services is its multi-level system of safety that allows for greater protection for its clients. This two-tiered system prevents shady individuals such as hackers to find users’ money and rob them of it. Preliminary findings reveal that accusations of fraud and scamming are at a low with LimeFX. No reports across the worldwide web had been lodged that places LimeFX in a bad light.
As these matters stand, this LimeFX review is geared towards assisting its readers to make a decision in signing up for the brokerage.
The LimeFX Forex Broker What to Expect from this Review
This review is a result of months spent with the LimeFX Forex broker. The LimeFX review had exhaustively made use of all the broker’s offers and services. Included in the scrutiny is the broker’s website which has a myriad of functions that aim a giving its users a multi-faceted experience in trading.
This review is an attempt at rendering a pointed and well-informed assessment of LimeFX’s over-all capability as a brokerage firm.
This LimeFX review will focus on the following:
- Trading Instruments
- Offered trading platform
- Trading Accounts
- LimeFX Customer Reviews
Through the LimeFX forex broker, a trader is given access to 180 different financial instruments including Forex, precious metals, oil, binary options, stocks, among many others.
Offered Trading Platform
LimeFX had developed its own web propriety trading platform. It is duly supported by multiple devices including desktop computers and mobile phones. This permits trading throughout any point across in the globe. A mobile application was previously available, but the company had already prompted its clients to just trade through the web platform which can still be seen clearly through smartphone.
LimeFX’s propriety trading platform supports the following:
- A number of technical indicators – A mathematical formula that predicts future tendencies in accordance to the present market situation is supported by the platform. The formula is split into two kinds of indicators: the trend indicator and the oscillator.
- Binary options – This pertains to a feature that allows for the prediction of a price, albeit not specific.
- Leverage – This increases the income and risks by a number of times.
- Demo Account – Through this account, a trader is provided with a virtual deposit, with all orders made through a sandbox.
Trading with LimeFX requires only $500 as a starter. The review team thinks this is a minimum deposit given that this is already a gateway to the 3 types of accounts that LimeFX offers.
- Silver Account – Through this account, users are allowed to withdraw money faster. This account also provides an account holder with a personal analyst.
- Gold Account – Here, the personal analyst is mandated to administer 30-minute reviews once a week
- Platinum Account – This is the most recommendable for novice traders as this allows for the creation of personal trading plans.
LimeFX Customer Reviews
In an earlier segment, the positive image that the LimeFX forex broker enjoys had been affirmed. While it is true that there is a scarcity in negative reviews for the firm, there are some that had slipped through the cracks. Two had been found by the review team:
I don’t want to work with such annoying managers. The minimum deposit is high for many. Also, there isn’t a mobile application. I don’t see any reasons to trade with this company. I tried to do it, withdrew my first deposit, and now I am not going to work with them.
I want to get my money immediately. I got them in four days. This is not good for me. This is not a scammer, but I want a faster withdrawal without having to get a VIP account.
What the review team had observed is that these criticisms are highly subjective.
Points made for LimeFX are actually numerous. The review had gathered 3 particular reviews:
I started trading with this company only recently. At first, there were a lot of doubts in my head. I decided to still risk and now I am happy with my decision. I tried investor simulator and could get my first income. The trading platform is very simple and understandable. Thanks to an educational center, I got all the necessary information about the basics of trading and economics. I recommended this company to my friends, and they are also satisfied because they could get an additional income. One of my friends was unsuccessful at first, but thanks to an investor simulator, all money he lost during two weeks have been returned. The broker withdraws the money in time. I don’t have a VIP account, so I didn’t have a priority, but this fact doesn’t bother me.
I have been collaborating with this company for almost a year. There were different periods during this time. In the beginning, I was unsuccessful because of my poor knowledge base. When I got some skills my trading went uphill. I can’t say that I am totally successful, but this is not associated with the LimeFX. You need to practice a lot if you want to earn money, but I don’t have enough time to do it. However, even such little time was enough for me to get basics thanks to the educational center. I read books, watched webinars and practiced. That’s why I am getting better and there are no limitations in the skills improvement.
My first impressions weren’t very good because of quite annoying managers. I decided to stick with this broker and now I am not complaining. They were very persistent, but later they helped me very much. Now, I can withdraw my first money. I am going to celebrate this fact.
LimeFX Fraud: The Takeaway
With the positive points outnumbering the negative ones, specifically through the observations made by the review team, the tag LimeFX fraud is proven to be completely false and unfounded.
The review team actually encourages interested parties to give LimeFX a shot.