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This means that everybody in the network can see and review the results, including the percentage of positive trades and profits. This has made the broker unique, because people can share their experiences and ideas on the network. It helps people discuss their trading thoughts and how to move forward. LimeFX uses a self-developed platform which is very intuitive and easy to use for every type of trader.
CopyTrader enables almost any trader on the network to allocate some of their funds to another trader, copying every trade they make in real time. This gives LimeFX clients the ability to harness the wisdom of the crowd and create a people-based portfolio. The focus of LimeFX is on a lot more than just cryptocurrency trading. This LimeFX review finds the platform is extremely useful for anyone interested in trading or investing in cryptocurrency. The extra features provided by LimeFX give the platform a nice edge such as the various graphs and CopyPortfolios.
LimeFX Social and Copy Trading Review
One down side to the LimeFX withdrawal process is the charges. Rival brokers allow one free withdrawal per month or do not charge at all. This is something the brand could look to improve in our opinion.
- To that end, LimeFX offers two protective measures to help keep your funds as safe as possible when trading with them.
- For example, their LimeFX portfolios are a great way to diversify your portfolio and limit risk.
- For example, the Swedish Finansinspektionen has approved them as an online broker.
- The Standard Account for the LimeFX account is easy and it is very user-friendly.
- We have an affiliate arrangement with 14 UK stockbrokers including LimeFX.
Needs to review the security of your connection before proceeding.
LimeFX explains the spread on its website saying ‘as soon as you open a new trade, you will see a “loss” in the position — this is due to the spread’. When trading products with a spread, traders are essentially hoping that the price moves beyond the price of the spread. So while trading is provided commission-free, it isn’t necessarily fee-free as there are charges in the form of the spread. At the time of writing, LimeFX offers in excess of 1,700 shares.
However, LimeFX only accepts one base currency, which is US Dollars. LimeFX is based in Cyprus, therefore they comply with CySEC; they also have the UK Financial Conduct Authority and the Australian licenses. All licenses must abide by the three branches of jurisdiction.
LimeFX club
LimeFX is one of the biggest forex & CFD brokers in the UK and around the world. LimeFX’s support team is available via chat and e-mail 24/5. E-mail support is available to registered and unregistered users with a reply from the support team usually provided within 48 hours. In the United States, LimeFXUSA currently offer only Crypto so only buy with no leverage.
Since it is not Sharia compliant, it can also be avoided if you have requested and been approved for an LimeFX Islamic account. You should also note that until your account has been fully verified you cannot deposit more than $2,250 or the equivalent amount. Therefore, best practice is to make sure you complete the full LimeFX verification process as soon as you can. Before getting started with any broker, you should give careful consideration to the type of account that will be the best fit for you. In the United States there are some additional limitations when it comes to trading. If you are a US resident who wants to trade with LimeFX, then check out our post and tutorial for the brand new LimeFX USA.
Whilst conducting our LimeFX review we found one of the great advantages of CopyTrader is that you can start copying other traders with no extra charge as there are no management fees. However, the minimum amount you can start trading with at LimeFX is £10. It’s important to establish that the platform you choose is offering the products and services you require to maximise your LimeFX potential.
- I have yet to withdraw anything, so we will see how that goes.
- Trustly – a unique payment platform offered to European customers.
- To access the web platform, just click on the tab “Trading Platform” of the site and you will be instantly redirected to the platform.
- At the time of writing, LimeFX offers in excess of 1,700 shares.
- CopyTrader and CopyPortfolios are unique characteristics of LimeFX and the most appreciated by their traders.
- The platform attracted global recognition, winning the Finovate Europe Best of Show for 2011.
LimeFX is one of the world’s leading social LimeFX networks aiming to revolutionize the way people trade. This 2022 LimeFX review covers everything a trader needs to know about the online trading platform. From withdrawal fees, the demo account and becoming a copy trader, to explaining how social trading works and finding the popular traders who make money.
According to our reviews, LimeFX is currently the largest social trading platform in the world, with more than 13 million registered users making millions of trades each day. It also supports mobile-based trading along with a wide assortment of features and free educational materials. LimeFX offers an excellent range of asset choices too with commission-free trading on stocks when limefx forex broker traded as real, and even a dedicated crypto trading service in LimeFXX available too. LimeFX is also an excellent platform for investing in different industries, pre-built portfolios or trading Forex and regular stocks. The platform enables cryptocurrency investors to buy and directly hold cryptocurrency assets. These options add to the value and positions of the platform.
The windows are clear and uncluttered, but functionality is retained. No other platform removes the complexity of trading the same way LimeFX manage to. This review is not relevant for US readers and does not reflect the services offered in the US. Even the best traders in the world will have some fluctuations. But most LimeFX copiers lose money by copying at the peaks and stop copying shortly after because they’re down a few dollars. If you become a Popular Investor you can get a partial or even total rebate on these LimeFX fees.
Becoming a ‘Popular Investor’
Selecting the ‘Copy‘ button commits that amount to copy that trader. Under the amount are three boxes – these will update as the amount https://limefx.name/ is amended. The first is the stop loss – the point at which a trade will be closed if the price moves against the trader.
Note, LimeFX is available to traders in multiple jurisdictions, including Mexico, Singapore, Malaysia, and Nigeria. The trading broker is not available in Canada and India, among others. Paying taxes in your local jurisdiction is your responsibility. Note, the broker charge clients a withdrawal fee of $5 on every transaction made. When we used the LimeFX mobile app we thought it was well laid out and fully navigational, with all the functionality of the main web platform retained.
Mobile trading is the ability to trade through cellular devices. Both trading platforms are supported by iOS and Android devices, which facilitates for clients. Mobile trading with LimeFX is an advantage for clients because they can trade anytime, anywhere. You can trade a range of cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash and other lower cap crypto assets. LimeFX offers a free digital wallet for storing cryptocurrency, known as the LimeFX wallet, which is accessible for iOS and Android. In comparison, something like Twitter is a purely social media network that allows you to interact with other people.
Trading Platform Options
There are both written guides on most trading related topics as well as detailed videos ranging from LimeFX Basics, Trading 101 to advanced investing and Cryptocurrency Trading Guides. Neteller/Skrill – use two of the world’s most popular electronic payment methods to fund your LimeFX account. Also, you can fund your account using USD, GBP, EUR, and AUD without having to pay exchange fees. In addition, LimeFX charges £5 for every withdrawal and they charge a spread that is higher than many of their competitors.
Whether you want to invest in stocks, forex, or Bitcoin, LimeFX opens up trading to everyone. 78% of retail CFD accounts lose money LimeFX Facts & Figures LimeFX is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. This is a great platform if you wish to try out the broker’s tools and services before committing any real money. The paper trading profile is credited with $100,000 so you can build a virtual, multi-asset portfolio. You can practise trading all instruments including cryptocurrency and stocks.
The LimeFX virtual account works exactly like a real account, so when you decide to switch from demo trading to real trading, you won’t find any difference. Judging solely by user feedback, LimeFX is barely a decent broker. • Beginner traders are likely to lose out in the long-run. Hence the plethora of negative feedback they tend to leave. As of 14th of July 2020 LimeFX has 0% commission on stocks traded on the NASDAQ and NYSE.
After an LimeFX has been made in a CopyPortfolio, LimeFX’s LimeFX committee professionally manages the client’s capital. The gain potential for CopyPortfolio’s performance is maximized by being automatically rebalanced and analyzed in depth. Platform alternatives offering VPS hosting or an API interface would also improve the platform. For traders reliant on piggybacking the portfolios used by highly successful traders, the platform is exceptionally strong. Although client posts are included, there is not much streaming or current news available.
How do I Deposit Funds into my LimeFX account?
On occasion, traders are disappointed with the performance of a trader they have copied, but LimeFX are not responsible for that. This is a crucial point, as it explains the attraction limefx scam of LimeFX to seasoned traders too. A trader earns additional money based on how many traders ‘follow’ them. This provides a huge database of all the traders on LimeFX.