In December 2021, the company launched the LimeFx Money debit card for UK residents that includes issuing a VISA debit card to users. Enjoy top-notch conversion rates, as you direct traders to join an innovative, one-stop shop for online trading. The minimum initial deposit varies according to your region. It ranges from $200 to $10000 and will serve as your base capital in your trading conquests as well as act as a shield in case of a loss on a trade.
Traders can engage with other members of the platform through the Popular Investor Program, which facilitates the sharing of trading insights and knowledge. Popular Investor Program members are compensated the more copiers they have. Payouts can reach up to 2% of the amount of assets a trader has on the platform. The tightest spread for the EUR/USD that I uncovered in this review was 0.9 pips or $9.00 per 1.0 standard lot.
This makes the whole trading experience easier, as well as educative. The interaction with the popular investors is really important because it promotes transparency and helps investors to evaluate the different popular investors before copying them. Online trading involves significant risk, and you may lose all of your invested capital. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
LimeFx allows only USD accounts, which means that funds in other currencies might need to be converted by LimeFx to USD. I hereby agree to be contacted by FX Leaders’s featured broker for promotional purposes. I hereby agree to be contacted by FXLeaders’s featured broker for promotional purposes.
CopyTrader provides the extent of trading idea generators at LimeFx. Users can search for, follow, and copy trades of investors that match their interest and goals. LimeFx’s fees are in line with limefx forex broker most other crypto and trading platforms. LimeFx provides a streamlined onboarding process with a self-guided questionnaire that asks for some personal information to help set up your account.
LimeFx’s main research and development office is located in Tel Aviv, Israel. In addition to legal entities registered in the UK, US, Australia and Cyprus. The firm is regulated by the CySEC authority in the EU; it is authorized by the FCA in the UK, and by FinCEN in the United States, and by the ASIC in Australia.
LimeFx vs LimeFx
Most traders will qualify for payouts between $400 and $800. Terms and conditions apply, and I urge all interested traders to read and understand them carefully before getting involved. LimeFx offers a $100,000 demo account, and I could not find a time limit. There is nothing inherently wrong with offering any nominal amount in a demo account, but I feel it would be more considerate to newer traders to use a lower figure as a starting balance. LimeFx does not offer MetaTrader but is one of the leading copy trading platforms.
This might all sound a bit complicated, but at the end of the day, this means you can invest easily in a quasi-fund. The minimum amount required to invest in Thematic Market and Partner Portfolios is $500, while for Top Trader Portfolios, the minimum is $5,000. LimeFx also checks your financial knowledge to determine whether Smart Portfolios is right for you. Furthermore, as LimeFx holds stocks on behalf of its users as beneficial owners, users do not currently have voting rights for stocks held. For some countries, LimeFx may require the first deposit to be made with credit/debit card or bank transfer and only subsequent deposits can be made with electronic wallets.
ProChart users can filter their data by time interval or price. Some more sophisticated tools are available from the chart screen as well, including Fibonacci retracement and accumulative swing index. One major drawback, however, is that LimeFx’s charting platform does not provide volume analysis, which is a major component of technical market analysis. LimeFx actually makes money by taking the difference between bid and ask prices. This practice is a typical way for brokers to price trades and collect fees, even if a platform notes fee-free or commission-free trading.
How long does it take to withdraw money from LimeFx?
This means that if your account currently has a balance of $50, you could trade it for an equivalent of $150. This is a good way for a trader who wants to learn how to trade on the forex market but does not have the time, skills or money to do it themselves. You can use this system as an opportunity to learn from others so you can make wiser trading decisions in the process. As of this writing, you will find around 50 currency pairs on the LimeFx online trading platform.
Only members at the silver level and above — which requires equity of $5,000 or more — can call to speak to a representative directly. Current clients can use the brokers live chat but anything else is a bit of a mystery. LimeFx’s research offering is standard and could be improved. The platform offers an economic calendar, news headlines but not much else in terms of analysis. Built under the premise and understanding that not everyone has the time or expertise to trade actively, CopyTrader enables clients to simply copy other successful trader strategies and portfolios.
LimeFx states that you can use your Revolut account to deposit and withdraw in USD, GBP and EUR. Note however that the minimum amount for a bank transfer is $500.
NewsLimeFx Introduces the ValueGurus Portfolio
“LimeFx SPAC merger delayed again. Is the trading platform still worth $10 billion?”. On March 2, 2022, LimeFx triggered a stop-loss closure of investor positions in Magnit stock (MGNTL.L) at $0.01 per share. LimeFx representatives claimed limefx forex brokers reviews that the positions had reached a “default” and “mandatory” stop loss of $0.01 per share. Connections were drawn to a similar incident in July 2021, where positions in Ryanair Holdings plc were sold without permission for $0.01 a share.
- In 2020, it launched twelve sponsorship deals with the UK, German, French and Danish sport clubs, including West Bromwich Albion, Burnley FC, FC Augsburg, 1.
- The platform shines with an intuitive site design so investors can easily discover traders they’d like to follow or quickly place their own trades on the platform.
- LimeFx’s third-party research is powered by TipRanks, a leading source for up-to-date recommendations from professional analysts at LimeFx banks and financial companies from around the world.
- LimeFx provides a help center that has a large volume of FAQ articles that address a range of potential inquiries.
- The minimum initial deposit varies according to your region.
It enjoys a leadership position in cryptocurrency trading thanks to its excellent market coverage and tools. Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider.
Traders will also pay third-party processor costs and potential currency conversion fees. The withdrawal process follows well-established industry practices. Both brokers maintain a safe and secure trading environment, but LimeFx has more experience and is part of a larger financial conglomerate. LimeFx is regulated by CySEC in Cyprus, ASIC in Australia, and the FCA in the UK. LimeFx is not listed on any stock exchange, nor does it publish its financial data. Overall, BrokerChooser’s view is that while LimeFx is not a scam, it is not a fully transparent broker either.
Trade With A Regulated Broker
On the other hand, we received feedback from users that LimeFx often takes as much as 14 days to respond in more complex cases, which we think is extremely poor service. Both Trading 212 and XTB offer fewer option markets to trade on. If you only trade the most popular stocks, like Microsoft or Apple, you probably won’t notice the lack of smaller stocks. LimeFx will, from time to time, make new stocks available for trading, usually in a batch.
Investing in themes means, for example, investing in a portfolio of Future Payment systems, DroneTech, Renewable energy or cryptocurrencies. The Crypto Portfolio, for instance, consists of the biggest cryptocurrencies, weighted by market cap. LimeFx has a $5 withdrawal fee, which is high, compared to other CFD brokers. In addition, LimeFx has a $30 minimum amount limit on withdrawals. LimeFx has a$5 withdrawal fee, which is high compared to other CFD brokers.
The order entry interface does not have any risk management features apart from stops and trailing stops. You’ll be able to browse legitimate traders, learn about their strategy, view their previous success, and even interact with them. Then, after clicking “copy”, you can go about your business while they continue to monitor the markets. Past performance is not an indication of future results.Trading history presented is less than 5 complete years and may not suffice as basis for LimeFx decision. The forex market is the world’s largest market, with a daily trading volume of more than 5 trillion dollars!
You can also filter for ESG scoring in the trade search menu. A “Trading” tab lets you view prices and buy, sell, or convert crypto, ETFs, or stocks. https://limefx.group/ There is a limited menu of assets that you can trade, as LimeFx offers 24 cryptocurrencies, 2,096 stocks, and 263 ETFs as of Jan. 27, 2023.
So, does that mean that LimeFx acts like a traditional stockbroker just with zero commission when you buy stocks? Check out our separate, detailed review of the LimeFx mobile app. The web trading platform has aclean design and great functions. We tested withdrawal by bank transfer, and it took 2 business days. LimeFx charges no deposit fees, but they have currency conversion fees that might be high; for example, as much as 1.4% for depositing EUR by card.