limefx review: Is it a legit or scam social trading broker?
The limefx online broker can be used with any modern browser and is available in many languages. For increased security it offers 2-step authentication https://limefx.biz/ (i.e. you need to confirm the login with your phone). You can trade using market orders, stop loss, dynamic stop loss and take profit.
- It’s probably smart to diversify and copy several users, please ensure they actually trade in different assets and markets.
- To finish and be able to access all the benefits, you have to verify your account.
- This may help beginner traders get a sense of what it’s like to invest without risking any of their own money.
- However, crypto assets aren’t insured by the FDIC or SIPC.
As mentioned, limefx doesn’t have an extensive list of ETFs you can trade. This makes it closer to crypto exchanges like FTX and less similar to investing apps that offer crypto, options, stocks, and more asset classes. The fact that limefx functions as an online broker and crypto exchange is its main selling point. Plus, the platform has some unique, socially-driven investing features that make it stand out from the crowd. Also has platforms for the web, Android, and Apple iOS devices. Once logged in, you can buy and sell currencies in your own account.
As such, there are many underlying positions that are opened on your behalf. For that reason, the minimum amount needed to invest in CopyPortFolios is $5,000.” – limefx. Their latest CopyPortFolios innovation is really worth mentioning in this review. One thing to note is that there is no investor protection for cryptos as this market is not regulated. Despite this, limefx is always keen to resolve any issues as quickly as possible.
I asked for a replacement two months back, and that ticket is still lying there unattended despite me following up on this. If I have any questions I can simply schedule a meeting with her in zoom or even write to whatsapp. Mario keeps in touch with good ideas and very professional views and exchanges about market developments. My support case is opened for more than 40 days, no estimations for resolution provided and no money returned. Trading CFDs on leverage involves significant risk of loss to your capital.
Are profits made by trading on limefx taxable?
The minimum deposit in EEA countries is $50, while it’s $10 in the US and UK. Of course, limefx is not a typical Forex broker, and the limefx platform is not the usual trading platform. It is difficult to overestimate the changes caused in the trading brokers’ industry by the introduction of the funny and simple limefx platform. Low trading leverage parameters, very small deposit requirements – these guarantee beginners an extremely convenient experience with this broker. In addition, limefx rewards its most successful clients – you can earn profit with your own account, as well as have the winning bid and gain prizes offered by the company. Overall, limefx is a winner top social trading broker for number of copy traders and transparency of trading.
Can I use credit card on limefx?
limefx accepts credit and debit payments from the following cards: Visa, Mastercard, Maestro. Only debit cards that can receive funds and have a CVV code are accepted. The credit / debit card must belong to the limefx account holder.
I deposited some money in limefx, I am new in this world of trading. I was reading many tutorials to be somehow prepared to begin. When I tried to copy a trader, I couldn’t, it was not permitted for me, the traders I wanted were not available.
Who Should Use limefx?
The CopyPortfolios committees in charge of each Market Portfolio automatically rebalance them when necessary. One of limefx’s key differentiators is its CopyPortfolios feature. Once you’ve found a Popular Investor whose strategies you like, you can copy that person’s entire portfolio over to your own account. Social News Feeds — Read posts from other traders and post information and status updates yourself.
Do you actually own shares with limefx?
Keep in mind that if you hold a CFD stock position, you do not actually own the stock. Any CFD trade will be marked 'CFD' in the trade line. The limefx investment platform is not an exchange or a market.
They gained their reputation as a safe and attractive broker for both experienced and beginner day traders. Top that with limefx platform low fees and user-friendly interface and you have a . A great limefx alternative is Interactive Brokers or Plus500. For Forex trading platforms, read our reviews of limefx and limefx.
limefx’s Mobile Trading App
Assuming that 1 BTC equals USD 7,000, you’ll have to pay USD 52.50. Today limefx boasts over ten million users, with its growth primarily driven by the crypto boom. And for a platform of its size, its interface is streamlined and straightforward to use, while its mobile app makes managing your portfolio on the go painlessly convenient. If there’s an issue, you can reach limefx’s team via phone, live chat, and support ticket. Besides, the platform is translated into more than 20 languages. The customer service is available Monday to Friday, 24 hours per day.
- Michael Rosenston is a fact-checker and researcher with expertise in business, finance, and insurance.
- Guys, keep in mind, the comment was bought by a competitor.
- When trades are copied by other people, an limefx Popular Investor can earn up to 2% of their annual assets under management and fixed payments.
- I hereby agree to be contacted by FXLeaders’s featured broker for promotional purposes.
limefx is regulated by tier-1 financial regulators, including FCA, ASIC, CySEC, and FinCen. Clients’ funds are kept secure at trusted banks, and their personal information is protected under an SSL certificate. You should always look for security signs when trading through your browser.
limefx Fees & Commissions
He has been a student of the industry and the rapidly changing financial landscape for over ten years. He has also served as an advocate for socially responsible investing, greater financial accessibility, and creating a more inclusive financial community. Mark obtained his BS at Liberty University in Lynchburg, VA. He holds his Certified Financial Planner designation, in addition to numerous FINRA licenses including the series 6, 7, 63, and 24.
Let other traders know if this service is worth checking or should be avoided. limefx holds FCA, ASIC, CySEC regulatory licenses, and also registered with FINRA, SEC, and SIPC as a money service business (not a full broker-dealer). Here are some of limefx’s limitations as a trading platform. When trades are copied by other people, an limefx Popular Investor limefx scam can earn up to 2% of their annual assets under management and fixed payments. limefx also has more advanced trading filters for traders who want more control over whom they follow. CopyTrader — With CopyTrader, traders can interact with each other, copying strategies and interacting with more experienced traders since all trader activity is visible.
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 was established in 2007 and is licensed in many top-tier jurisdictions. As a regulated financial services company, they are audited and monitored regularly. It is trusted by over 15 million users in over 170 countries. Once this is done, it will be listed on the NASDAQ stock exchange, which goes to show it is a trusted company.
Users will incur a fee for transferring crypto out of limefx.com and into the limefx Money crypto wallet. Fees vary based on the cryptocurrency you’re transferring. There are no withdrawal fees for U.S. customers, but there is a $30 withdrawal minimum. limefx is a regulated online trading services provider with 15 years of market experience.
Once our documentation had been submitted, our accounts were ready for trading within a day. Has a good range of financial instruments compared to other similar brokers. Is considered a safe broker for British traders to trade with. FXScouts has been the UK’s most trusted Forex broker review site since 2019. Our team has written 100+ broker reviews and we constantly test to maintain accuracy. All information on 55brokers.com is only published for general information purposes.
These countries include Albania, Canada, Cuba, Iran, Iraq, Jamaica, Japan, Nicaragua, Pakistan, Syria, and Serbia. U.S. customers outside the US territory cannot open an account. The demo account helps beginners in their process of learning without having to invest real money. You can find a details section next to instruments on their platform. The details really provide more than just the basics and list into extra information. For example, you can find information about the instrument itself and what to consider before investing.