LimeFX Review 10 2022: A Must Read Before Trading

If you don’t have enough time to trade or don’t want to do research, you can rely on the social trading opportunities provided by this broker. If you’re an advanced trader with proven profitability, you can build a new stream of income via CopyTrader and the Popular LimeFX Program. If cryptocurrency is one of your core interests, LimeFX offers you one of the most extended collections of crypto based financial instruments. Between 74-89% of retail investor accounts lose money when trading CFDs. Derivatives are complex financial instruments and there is a chance of losing LimeFXs due to leverage.

• In terms of speed, the fastest options for depositing funds are with credit card or with an electronic wallet like Skrill or Neteller.
• I don’t think there is a limit on how many you could copy.
• Their updates show up in your Watchlist and News Feed, as with Twitter.
• Valentina Reingold was my client manager who offered me the chance to go.
• The minimum purchase amount for any share purchase is $50, so about £40.

The minimum deposit requirement at LimeFX is $10 for US and UK investors. The platform is available 24/7 but assets will only be available to trade when the respective markets are open. So US Stocks will only be available when US markets are open on Wall Street, for example. Forex is available around the clock during the week, as there is always at least one market open somewhere in the world. The company has made clear that it wants to expand beyond digital art and will turn to third parties to enhance the valuation process. The aim is to improve the sometimes extortionate floor prices and sales that reach tens of millions of dollars.

LimeFX Platform Review

So I highly recommend you take a medium/long-term approach. This requires patience and discipline, but you’re more likely to see better gains over time. Having warned against consistently under-performing traders, the other big pitfall beginners fall into is over-trading. Finding reliable traders to copy on LimeFX isn’t always easy.

Giving investors the option to transfer in and invest their pension pots using LimeFX’s great range of LimeFX options would certainly be a welcome addition. Traditional research for individual stocks and ETFs is limited at LimeFX. Basic company fundamental data are provided, such as financial data and a quick overview of the asset. Analyst ratings and price targets are also available for funded accounts. The different types of additional fees are highlighted below. Note, LimeFX has different account tiers based on account balance, which makes traders eligible for fee discounts and other features.

It is easy to make a withdrawal with the broker as explained in our review. Funds can be withdrawn using the same payment method that was used to make the deposit. For example, if you’re an LimeFX UK based trader, your local currency will be GBP.

Leverage will magnify both profit and lossso traders should make sure they fully understand the implications. European regulation currently limits the leverage offered on certain markets. Bizarrely this happens quite a lot on LimeFX, so I’ll be explaining the process I follow when copy trading as part of this review. You’ve now opened up the world of trading stocks online and in real-time. To actually make trades you’ll be prompted to complete your LimeFX profile.

When trading CFDs with LimeFX, you are trading on a high-risk leverage product and you will be required to pay a spread each time you open a position. In comparison to other brokers, LimeFX is perceived to be a market maker and trading CFDs with is somewhat higher. You can buy stocks through LimeFX by opening a non-leveraged position. You purchase the physical, underlying asset – You’re not trading on the price movements of this asset . When you purchase physical stocks through opening a non-leveraged position, you will pay zero commission. This means you will not pay any commission when opening and closing position, no ticket fee, no rollover fee, no markup fee and no management or administration fee.

Forex Risk Disclaimer

In fact, you can manually cancel individual orders from within a portfolio, which gives you 100% control of your money. This means you can essentially invest in stocks and shares without doing any of the research you would otherwise have to. So if you’re a beginner learning how to invest in stocks but want to invest at the same time, you can back do so by using LimeFX’s CopyTrader. But, there is an underlying currency conversion fee that you need to take into account. This is because all account balances at LimeFX are denominated in US dollars. So, when you fund your LimeFX account with a debit/credit card, e-wallet, or bank account, you will incur a 0.5% currency conversion fee.

Investing involves risk including the possible loss of principal. There will always be financial risks with online trading and LimeFX. However, LimeFX has built a reputation as an accessible place for people to learn, connect, engage and invest smartly by drawing on the skills and experience of other successful users. LimeFX offers the possibility to trade cryptocurrencies, stocks, commodities, forex, indices and ETFs from anywhere in the world. Social Platform – in addition to copying other traders, LimeFX invites you to interact with and exchange knowledge with others.

• Alongside 14 other UK stockbrokers, we have an affiliate relationship with LimeFX.
• Successful Popular Investors receive monthly payments, which are subject to payment eligibility.
• The mobile application saw a significant speed improvement from the new, lighter programme.
• Cryptoassets are highly volatile unregulated LimeFX products.
• With that said, LimeFX has designed an incredible platform that is constantly being updated and optimized.
• When you invest in ETFs on LimeFX, you buy a non-leveraged position, which means you are investing in the underlying asset.

Yes, at the time of this LimeFX review, LimeFX is available in the UK, however all trades are carried out in USD so you will have to pay a currency conversion fee. So to deposit £30,000 would cost 25 pips, which would be $25, or approximately £75 at a GBP/USD exchange rate of 1.30. The withdrawal fee would be the same, plus the flat $5 fee (approximately £4). So total fees to withdraw and deposit £30,000 would be £154. Easy-to-use mobile app and straightforward trading platform.

According to the website, if you wish to cancel an order, click on the red X on the right. Once cancelled, the funds allocated to that order will be freed up in your account balance and become available for trading again. For the tutorial section, there are only how-to presentations, which is beneficial for novice traders.

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Like most brokers, common personal details are requested, such as your name, surname, user name, email address, phone number and password. With a user-friendly and minimalist interface, the LimeFX proprietary limefx official site platform appeals to all types of traders, beginners included. The fact that LimeFX is licensed and regulated by the FCA means that the broker has to keep customer funds separate from the rest of the company.

• LimeFX operates 24 hours a day, but if a market is closed, then certain assets will not be available.
• Keep in mind all of the above information and remember that no regulations required for cryptocurrencies.
• Following the processing, a withdrawal will take an additional 3-8 business days until the funds arrive to the used method of payment.
• The conditions are for beginners which are that they have to trade with a fixed spread, and they have to exercise the copy-trade application.
• This means you can essentially invest in stocks and shares without doing any of the research you would otherwise have to.

LimeFX’s exchange rate is increased by 0.5% every time you make a currency conversion from euros or pounds to dollars. Overnight fees can be charged on different weekdays depending on the asset or instrument in question. This occurs whenever you convert currencies such as GBP, AUD, or EUR into US dollars.

Monitoring your LimeFX performance

LimeFX offers a few different accounts depending on how you’re planning on trading as well as your experience. The main account type is a regular trading account with copy trading. Then there is a professional account for day traders that can prove their knowledge about trading. While it’s technically free to open an LimeFX account and even though there is no commission, there are certain fees that you will be expected to pay when you trade.

More experienced traders might consider looking for a service that caters more specifically to experts – but new investors won’t find many better options than LimeFX. https://limefx.club/ 73.85% of retail investor accounts lose money when trading CFDs with this provider. 81% of retail investor accounts lose money when trading CFDs with this provider.

LimeFX offers a wide offering of stocks from 17 different stock exchanges. In total, you will be able to find over 950 stocks (mostly blue-chips). These are tradable as CFDs or by investing in the underlying asset. In this last case, LimeFX won’t charge commissions for operating the order. Last, but not least, if you’re interested in investing in cheap stocks through LimeFX, you are also going to find low-cost shares which value is lower than 5 USD. This range of available markets alongside one of the easiest trading platforms in the world to operate makes LimeFX a perfect and very open choice, particularly for new or casual traders.

LimeFX club

Your LimeFX trading account funds can also be monitored directly from the LimeFX Money app. With this account, there are no conversion fees on deposits, and instant withdrawals are possible. There is no charge to open an account and no cost to maintain a profile including when utilizing copy trading services or when investing in Smart Portfolios.

There are other ways that you can copy trade as well, but LimeFX is one of the first ones that I have heard of. So, let’s have a detailed look at what it allows you to do. That can be very appealing when you think of the potential to find some of the best traders in the world. That is better than sitting and staring at a screen all day desperately trying to make a profit in the Forex market. LimeFX brings something new to the Forex trading industry, especially in the cryptocurrency area. It creates a safe platform where newcomers can trade—all in all, with the pros and cons and the platform’s costs.

When was it founded, how many customers, how many assets, awards, collaborations, etc. Also mention whether they offer CFD, ECN, spread betting, DMA, etc. Through this, LimeFX has established itself as one of the best online brokers ever.

There are no fees for copying the traders, but you may pay fees on spreads and a small fee for overnight trades. But the service is also suitable for the time-strapped trader who doesn’t have the time to analyse or watch trades. The best, high-performing investors share their portfolios with LimeFX clients. The theory is that if you copy a successful investor, your LimeFXs will replicate their success. CopyPortfolios came to the LimeFX platform, an innovative service allowing clients to copy the portfolios of successful investors.

Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. It shall not be intended as operational advice for LimeFXs, nor as an invitation to public savings raising. Any real or simulated result shall represent no warranty as to possible future performances. The speculative activity in forex market, as well as in other markets, implies considerable economic risks; anyone who carries out speculative activity does it on its own responsibility.