LimeFX Broker: Is This a Scam or Good Forex Broker?

Сontent of the article


Introduction

LimeFX is a fast-growing broker. Its popularity increases every day. This brokerage was created by a group of professionals in 2008. The headquarters are situated in London. Previously, the services did not cover much: this company provided them only to European customers. However, since 2015, the list of countries has been expanded.

There are a lot of different reviews about this company. Some people say that this is a scammer. Is LimeFX: Scam or not? It is definitely not a scam and today, we want to prove it.

LimeFX Review

LimeFX is an international broker that allows you to trade different financial assets, such as stocks, indexes, currency and different goods. There are a lot of advantages that this company has:

  1. Additional data protection and high reliability of operations.
  2. High speed of order execution and detailed trading history.
  3. Instant push-notifications with the information about the orders you created.
  4. More than 200 financial assets, integrated indicators and analysis system.
  5. High speed of switching between accounts.
  6. Possibility to control your balance. 
  7. Personal manager.

Before starting its activity as a broker, this company developed robots for automatic trading. All money are traded on the international market. You don’t buy and sell any assets from a broker. That’s why all reviews where people say that LimeFX is scammer, aren’t true. 

The broker offers many features. For example, beginners can improve their skills using an educational center. There are a lot of materials that can help people to become professionals. These include different webinars, electronic books, video lessons.

This company proposes a lot of attractive offers and sales. One of the most interesting features is an investor simulator. It allows you to get experience and earn the money.

What is it? This is a service that allows you to get a real income without risks of losing the money. You can test your trading platform, learn to make orders, test your personal strategy or simply open an order in which you aren’t sure. 

How can you use the investor simulator?

  1. Register on the website of this company.
  2. Create an account.
  3. Make your first deposit between 500$ and 5000$.
  4. Start trading.

You can trade for two weeks. If you win, all your money is saved on the deposit as a bonus. If your trading is unsuccessful, the broker returns you all your losses. That’s why this is a reliable broker. Two weeks are enough for most traders to understand the basic trading principles and prepare themselves for the real trading.

Thanks to the educational center, your trading can become even more effective. You need to read the articles, blogs and books created by the experts, watch the videos and read the analytics. 

Account types

There are many account types for different ambitions and wallets. The cheapest requires a $500 minimum deposit and the most expensive require $50,000 for a first deposit. The minimum order is 0,1 lot. 

To create a LimeFX account you need to register. You need a few minutes to do this. Fill out a small questionnaire. Next, check your account type and make a deposit. 

Account type affects the withdrawal speed. If you have a VIP-account, you have the priority in receiving funds. If you have a basic account, you can withdraw money according to standard rules. All traders can use additional services, such as an educational center or analytics articles. 

All VIP accounts are divided into three types:

  1. Silver. You get a personal analyst. 
  2. Gold. In addition to the personal analyst, you get a 30-minute account review every week. 
  3. Platinum. This type supports a quarterly trade plan. 

Besides the opportunities above, you can use these advantages of VIP-account:

  1. Your own trading strategy development with an expert
  2. Real-time trading demonstration
  3. Developed trading instruments.

With the VIP account, you can train with the investor simulator even more effectively because you have support from your personal analyst during all time you study. This fact increases the chances to finish the two-week period with a profit. Your personal analyst will make your trading more pleasurable. 

One of the special account types is an Islamic account. You can invest and not violate the Sharia law. You need to contact your personal manager to open this account. 

Trading conditions

The company supports all popular payment methods. Other trading conditions:

  1. Minimum deposit – 500 dollars
  2. More than 180 trading assets, which allows you to be flexible and find attractive financial instruments every day
  3. Many account options for the different types of traders
  4. Fast order execution
  5. Detailed history of orders
  6. Trading in one click.

Facts about trading

Why do so many people think that trading with LimeFX is unreliable? The fact is that many myths were spread around the world and confuse newcomers. Let’s describe the most popular of them:

  1. Trading is gambling. This isn’t the truth at all because trading requires analytical skills and at least basic economics knowledge. When you gamble, the result is not up to you. You can only hope for luck. Trading is a responsible process. At the same time, you should understand that your result doesn’t totally depend on you because there are a lot of factors that can’t be affected by you, such as political situation, ecological problems, etc.
  2. Trading is a totally successful process. All brokers say that trading is associated with huge risks. LimeFX also says that. That’s why this company isn’t a scammer. If a trader make an ill-conceived deal, he would lose because of his own mistake. Brokers can only help the person and this company does it. All other aspects are dependent on the trader. Even experts do make mistakes. It is normal. However, a lot of beginners say that the company is scammer immediately after losing. You won’t be successful this way. 
  3. Some assets grow regularly. This is one of the reasons why beginners can lose their money. All financial instruments change their price over time. Even if the price is growing, some corrections can always happen. This is associated with many opportunities, but beginners don’t understand that.
  4. The best moment to buy is at the maximum price. This is a totally false statement because after maximum, the price always falls. Actually, the best moment to buy financial instruments is when the price is the lowest. 
  5. You can earn money without risks. Actually, the risks grow simultaneously with the possibility to get a better income (profitability). First, a trader should make low-risk orders and only after a while they can gradually switch to more risky tools. However, you are supposed to leave some assets with lower risks in your diversified portfolio. This trading approach protects your money from losses. 

To sum up, do not shift all responsibility to the broker. Most of the aspects can be controlled by you, but not all of them. Due to this, trading is one of the riskiest activities, but if you are really interested in it, a big success certainly will be yours. 

Is LimeFX a scam?

According to the information above, there are a lot of reasons why LimeFX isn’t a scam. This company doesn’t promise a lot. Scammers promise guaranteed wealth and success. Unfortunately, many people trust them.

On the official website of this company, you can read the following information: “The trading on the currency market is associated with risks. We highly recommend you to read our conditions before you make investments». Companies that write this are not scammers at all.

The second reason why you can trust this company is the regulation by the country where this broker carries out its activities.

One more reason why we can’t consider this company as a scammer is due to numerous positive reviews and a small number of negative. Some reviews are neutral, but not bad. This is important because even if positive reviews were bought, only negative can characterize the broker as a scammer.

Unsatisfied people are more likely to write negative reviews, unlike satisfied people who do not always take time to write positive reviews. If positive reviews are bought, we would see many negative reviews anyway. Also, all honest brokers have quality customer support. How good they are, we can tell from the clients’ reviews. 

Also, this is an STP broker. This is a technology that allows you not to contact your broker directly and make orders at the best price. Here, we need to describe this technology in more detail to help you understand why it is a reason that this company isn’t a scammer. 

STP technology

There are two types of intermediaries on the financial markets: brokers and dealers. Many Forex brokers are actually dealers. Dealers own financial assets and can buy and sell them at an established price by them. That’s why they can change the price of financial instruments manually. Respectively, the trader loses in this situation because dealers don’t establish a price based on the market. This company sets the price at which traders are ready to buy. It is a very easy task to find newbies who will buy those assets because of their emotions, not logic.

The real broker works using an NDD technology (STP is one of the types of it). It allows users to get access to the market without any intermediaries. Prices are established by big banks and other subjects that create the market.

One of the most interesting features of STP brokers is the DMA. It means that traders have direct access to the market. When brokers execute the orders of their customers, they can offer the best possible price with a small commission of the broker. Prices are always honest and traders can make orders at the same price as with other companies (with slight differences). 

Trading platform

LimeFX has its own trading platform based on one page. Go to the LimeFX site, create an account, enter your LimeFX login and start trading. The broker has a demo account that allows you to test the trading process. When you register the demo account, you get 25 thousand unreal dollars which you can spend on different assets. You can increase your qualification thanks to this feature. 

The trading platform works on any PC or Mac with a modern web-browser and a stable internet connection. It is quite simple, but it is well thought out and understandable intuitively. You can set up the graphs and choose any timeframe you need for trading. The platform supports many trading indicators, including all usual such as Moving Average, RSI and many others. 

Previously, traders could trade binary options via a mobile application, but now they don’t have this possibility because of a prohibition of this type of applications by Google and Apple. They are independent companies and they can do everything. Also, don’t forget about the fact that this company is regulated by CFTC.

In response, this company created web-application with the same functionality. The main advantage of it is in a lack of need to install the app. You can get access to it from any device. This application is named LimeFXGO. You can trade all instruments supported by LimeFX and use all features. This platform gives you an opportunity to trade financial assets everywhere. 

Special features

This company is both Forex and Binary options broker. You can trade the specific currency or try to predict the price of it. 

If you trade Forex instruments, you can use the leverage. It is set at the 1:500 level. This is great for professional traders, but if you are a beginner, you are not supposed to use it because of high risks. 

What is the leverage? This is a multiplicator that increases the amount of your investments for a fee. For example, leverage 1:100 makes the investment 100 times bigger. For example, you invest 1 dollar. All other money broker invests instead of you. At the same time, the profit and losses are will be considered as if you invested all that money. If your losses are close to your deposit or a certain part of it, the order closes. This is called “margin call”. Even the smallest price change can make you very rich and very poor. That’s why you should not invest your money with the leverage if most of your orders are unprofitable. 

One of the most interesting features of this company is the SMS analytics that you can get from the LimeFX.com site. What is it? You get prepared signals to your smartphone and make profitable orders even if you are a beginner. However, you are supposed to use also your head because experts are people and can make mistakes. You should understand that only you can be responsible for your result. 

Forex reviews

Let’s analyze some reviews because this is one of the most eloquent criteria. Of course, some reviews may be bought and therefore, fake. Due to this, you need to look at the meaning and details. You need to understand which factors are the most important for you and look for the answers to these questions. 

Positive reviews

  1. I started collaborating with this company 7 months ago. I am satisfied at this moment. To be more specific, I want to bring your attention to the good work of the trading platform, tight spreads and fast customer support. It’s a very hard task to work to get the money from bonuses. However, every trader who has enough trading experience can do it. I haven’t ever faced any trouble with withdrawals. I have always got them fast: in 3-4 days. Moreover, I want to say about the high quality of SMS signals. They always help me to make money on the financial market using the services of this broker.
  2. I can say only good things about this broker. I have been trading for almost 1,5 years. The trading conditions are extremely attractive to me. With the first withdrawal, I was worried about it, but all my fears have not been confirmed. In comparison to other brokers, all orders are executed fast. You can be sure that money will be in your wallet in 5 days. I want to mention the customer support separately. It is very professional and polite.
  3. A great company! My personal manager was very qualified and told me a lot about the secrets of trading. Also, I could familiarize myself with analytical articles about the financial market. I am totally satisfied. I can always contact customer support if I have some questions. It answers very fast and sorts everything out in my excited mind. I need 3-4 days to withdraw my money. This is not such a bad result for me. 

We see that reviews are great, but not all people say the same thing. Some of them describe this broker in a more neutral way and even negatively. Let’s look at these reviews for a complete picture. 

Neutral LimeFX customer reviews

Most neutral reviews consist of a description of both positive and negative aspects of collaborating with LimeFX. Some of them:

  1. I decided to create a more clear understanding of this broker. Now, my impression is OK. This company offers a great mobile platform. Also, I liked the investor simulator because it is a great method to make trading more understandable for a beginner. I am not a beginner, but this feature is very interesting for new traders. As for negative aspects, the withdrawal is not as fast. I need a week to get my money. I understand that they check the completion of all requirements and lack of violations, but I hope they will do it faster. Is LimeFX fraud? No. I have some complaints, but they are not connected with dishonest actions. 
  2. I have been trading on this platform for 7 months. I can share my impressions. In general, I can say that this company is reliable. The trading platform has a lot of features. There are a lot of financial assets. However, managers make me sick, although such annoying managers are everywhere. Also, I would like to have my money faster. I don’t know why they are so slow, but I need to wait for them for 10 days.
  3. This is an average broker for trading. I don’t have any significant complaints about this company. I opened my account 5 months ago. My impressions about trading conditions are normal. SMS-analytics aren’t bad. I have made many successful orders thanks to it. As for withdrawal, I ordered it several times. I can’t say that it is fast. I have always got my money on the fifth day. Customer service is slow. I needed to wait for an answer. You should understand that if you don’t get the answer, customer service doesn’t ignore you. You simply need to wait some time. Does LimeFX lie? No, and that’s what matters to me. I am not going to change the broker. 

Negative reviews

  1. They are extremely annoying. I don’t want to invest more money than I want. Also, this company has high withdrawal limits. You need to have a huge deposit to do it. Fortunately, I have been able to do it. However, this broker isn’t for beginners.
  2. Very slow technical support and withdrawals. I had been waiting for a lot of time until I got the answer. I don’t want to collaborate with this company. It isn’t a scammer, but such long responses drive me crazy.

We see that the negative reviews consist of similar negative moments that the neutral or positive have. However, in comparison to them, they were significant for them. Does LimeFX cheat according to these reviews? Not at all. No one said that this company has made even the smallest dishonest actions.

Should we trust LimeFX Forex broker?

There are a lot of brokers who are scammers. LimeFX isn’t a dishonest company because it is regulated by CFTC USA. This is a government company, and its mission is in maintaining clear and competitive work of financial markets. Also, CFTC protects traders from scammers and abuse. Only the best brokers can get the official USA license. Usually, the United States block most of the companies that work on the Forex market or trade the Binary options. If the USA gives the license, this is a good sign. 

All money are saved on separate accounts in the Harris Bank and Fifth Third Bank. All your data is protected using the Secure Sockets Layer application. Also, servers are protected by SSL-encryption. All transactions are safe thanks to the international first-level payment service provider. That’s why you can trust LimeFX.

Also, this company is sponsored by VISA and MasterCard, which is another reason to trust this company. Moreover, this is a reason why all transactions are done without commissions. 

To sum up

LimeFX isn’t a scammer. You can trust this company. There are a lot of reasons why this statement is true:

  1. There is a large number of positive and neutral reviews. Negative reviews don’t say that this broker is a scammer. Some people complain about the time of withdrawal and responding of the customer support, but this fact doesn’t bother other people.
  2. It is regulated by CFTC.
  3. It is protected from hackers.
  4. The money of the users are saved on independent bank accounts. 

That’s why this is a reliable broker, and you can make a profit with it if you are qualified enough. A lot of people want to prove the statement “Why Forex is a scam” using dishonest brokers as an example. At the same time, they don’t say anything about honest companies. Go to the LimeFX official site (https://limefx.com/) and check it out for yourself.