For a trustworthy broker, it is important to build brand loyalty and help customers grow on their platform so that they come back. Even though the Forex market has virtually endless amounts of customers, their retention still should be a top Forex broker priority. When it comes to you receiving your winnings we believe that there is a high probability that you will get scammed.
Once again we have found out about a broker and are diving headfirst into its regulations and services. Please note that these types of reviews are what should be guiding you through your journey of trading. We are hoping that this LimeFx review will help you have a fresh start with a new broker.
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We may receive compensation from the companies we write about. Always verify that your broker, is licensed by your local financial regulator. Many proprietary platforms of high-quality brokers can provide a great trading experience. Such brokers are only required to provide easy access to trading instruments, but nothing more. The problem with unregulated brokers is that they are untrustworthy and violate the rules. Obviously, LimeFx did not do any of the above, and can not even be regarded as a broker, but just a scam in the foreign exchange market.
There is really no reason to invest with an offshore / unlicensed broker, since the regulated brokers offer the same services and better. You can find popular brokers that are licensed and regulated listed here. Our quick review of this broker called https://limefx.club/ FinoMarkets finds, that they are offering their clients only a web-based CFD trading platform. It is a basic trading app, that uses TradingView charts. Order types are not shown unless you deposit money, so basically no free demo trading.
No, FinoMarkets is not a licensed broker or a regulated broker.Even the FCA in England issued a warning about this broker on Oct 4th 2021. The truth is that there is no trading app which automatically trades for you. Instead, it is a man who will call you and ask you to invest $5,000 with his “expert trader”. For a detailed explanation of how the scam operates, Read this article. The company displayed in the LimeFx MT4 is not Cyprus based or regulated either. The name of the company is LimeFx EOOD which appears to be a Bulgarian company, this is a red flag for sure.
We need to be honest here and say that the design is a good user experience. But we’ve already talked about this in numerous other reviews that potential scammers are always ready to invest a lot of money in their website to lure in unsuspecting clients. LimeFx scam probability has already increased just based on the past of broker websites. But still, there are no conclusions being made just yet. We still need to delve deep into their terms & services, options and of course they legality. LimeFx offers traders the flexibility to choose from mobile trading tools, web trading tools, and the market-leading and highly regarded MT4 trading platform.
LimeFx Regulators & Personal Information
There are a lot of trading options and all are profitable. I have been using their services for just a couple of months but so far I am fully satisfied. In order to start trading with FXMarket, you have to deposit at least 500 USD . LimeFx is not included in our list of recommended brokers.
- If you’re wondering – Yes, that is possible with many FX/CFD brokers because most don’t have Negative Balance Protection.
- We don’t have our own personal experience with FXMarket.
- Because inexperienced investors are all but guaranteed to lose in the long term.
- Nothing on this website should be considered a recommendation or endorsement.
- ForexFraud.com is an affiliate partner with various brokers and may be compensated for referred Traders.
When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located. Users caught spamming or abusing will be deleted from the site and prohibited from future registration at thatsucks.com and affiliates. We recommend staying within the range of good taste and respectful language to avoid any unpleasantness. Withdrawal methods are credit cards, wire transfers, Skrill, and Cash U. The minimums are not specified and neither are the processing times. The client will have to complete a Withdrawal Form available in LimeFx’s Legal section. In this review, we will describe why your funds are not safe with LimeFx.
Only the NFA regulated brokers featured on this site are available to U.S. customers. The trading platform provided by the broker should be easy to use and intuitive enough lime fx so that traders can quickly access their accounts and trade. The trading platform should be very simple and user-friendly to help users conduct daily transactions.
In accordance with our research, FXMarket is an offshore unregulated broker. This alone does not mean it is a scam, but you should be even more careful with such a provider than with a regulated broker. In order to be sure that FXMarket is not a scam, read our trader reviews and check other popular trading related websites and forums.
While these platforms would be good in the hands of other brokers, LimeFx makes unauthorized trades and traders have trouble withdrawing funds from LimeFx. These account options may sound tempting, but trading on LimeFx is nothing more than a scam. We don’t have our own personal experience with FXMarket. However, because it is a broker that in accordance with our research lacks any regulation, we would be quite sceptical if we were to trade with such a provider. In any case, Vanuatu is an offshore zone and we recommend that traders choose carefully the brokers they will work with.
What I really like about this broker…
If you are a beginner LimeFx is a way too big commitment for you and we would advise looking somewhere else. The source of this information is the website and the broker’s trading platform listed in the Web section of this review. Please verify whether the broker is authorized to provide its services in your country of residence in accordance with the legal regulations that apply to its business. If you find this LimeFx review helpful, be sure to share it with your loved ones so they don’t fall into this type of scam. If you encounter the next one on LimeFx, you are likely to be scammed or involved in a scam.
If someone does report them, they simply deny culpability and the burden of proof lies on the victim. Based on the issues that we discuss in this article along with firsthand reports from clients, we will recommend in a serious way NOT to use LimeFx as a broker. If you’ve already deposited your funds with them, read on as we’ll explain how you could get your money back.
Is LimeFx a scam?
The broker must have a modern trading platform supported by advanced analytical tools and the latest foreign exchange technology. A good broker must not only be regulated, but also have a good reputation, excellent trading conditions, and excellent support. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. The Elite membership features by-and-large the same trading conditions as the Gold option. During our preliminary research on this broker, we came across a ton of LimeFx reviews in which people said that customer service after the initial withdrawal was absolutely poor.
Due to lack of information and unregulated LimeFx, funds are not safe. According to reports, some unregulated brokers deceive people. Some brokers may provide a wide variety of trading products, while other brokers may specialize in one area, such as a foreign exchange. Traders should trade with well-regulated brokers and reputable brokers. No matter what trading products you find in the LimeFx reviews, please make sure that they have obtained permission to trade the products they offer.
ForTrade is a very popular CFD broker, that is licensed in Canada by the IIROC, see here. Do your research, and first try making money are licensed broker that give you Trading Central alerts, see here. On our website, we always try to make our content relevant and accessible to everyone. However we put in just a bit more effort when it comes to being very helpful for beginners, therefore this LimeFx review can be looking like a rookie guide. But please know that all the vets out there are also advised to check out every single review that they can find about brokers. WikiFX Internet and its mobile products are an enterprise information searching tool for global users.
If you take a look at the screenshot shown below, you will see what their web-based trading app looks. As with most CFD brokers, you will find a long list of underlying assets available for CFD trading including; Shares, Crypto Currency, Forex Pairs, Stocks, Commodities and Market Indexes. Minimum deposit for a new trading account at Fino Markets is $250.
LimeFx FX brokerage is completely aware of this and therefore has hidden this behind the $5,000 account in order to urge new traders to go straight for it. In order for limefx scam you to start trading on this platform, you need to dedicate $5,000 from the get-go. This is a huge amount to be asking up-front for a company that is not very trusted.
All information should be revised closely by readers and to be judged privately by each person. With such lack of information and LimeFx being offshore, funds are not safe. Security of funds is a huge problem with offshore brokers.
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