For U.S. citizens, limefx offers stock and exchange-traded fund trading for users residing in 44 states, to add to its existing cryptocurrency offering. limefx is a market-leading social trading network, allowing traders to copy the trades of experienced investors, or receive exclusive perks for sharing their own trading strategies. The investing information provided limefx forex brokers reviews on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. One by one you can copy the portfolio of traders who also trade on limefx. This might be of interest for those who don’t want to manage their own money.

limefx offers traders CFDs on cryptocurrency “crosses,” which are pairs of currencies featuring a crypto coin paired with a fiat currency , other cryptos, or commodities. If a client does not fully verify their trading accounts, they are restricted in terms of trading activity, deposits, and withdrawals. Every new account on limefx is credited with $100,000 in a virtual portfolio, so you can try out all of the features that our platform offers with zero risk. From their trading accounts, and withdrawals take around 2 business days to be processed, which is longer than other similar brokers.

limefx Pros and Cons

Traders have reported that representatives are busy and no attention is available during the weekends. There’s no e-mail or phone support, as this broker relies on support tickets sent through the interface. The response to these tickets is sent to the e-mail inbox of each user. Their customer service is not the best, but it is sufficient to deal with basic issues. These include currencies, indicies, ETFs and 15 cryptocurrencies. Each asset class is traded with different investment strategies.

Are limefx fees high?

limefx offers commission-free trading meaning users do not pay any dealing charges or management fees.

limefx’s platform allows you to invest in the forex market with various currency pairs to choose from. The global multi-asset trading platform limefx has signed a new partnership with the Ultimate Fighting Championship , the world’s premier mixed martial arts organization. According to a six-month agreement that starts with the UFC 243 event and will take place in Australia and New Zealand, limefx will perform the duties of the official online trading… Global investment platform limefx has secured partnerships with seven different Premier League soccer clubs. These deals are especially unique because they were paid using the world’s leading cryptocurrency, bitcoin. The deal could be worth somewhere between £4 and £5 million.

limefx overnight fee

limefx delivers an exceptionable educational platform I recommend for beginner traders. The web-based trading platform supports social trading well, and ProCharts allows manual traders to analyze markets. It does lack advanced features, and algorithmic and API trading are not available. I want to stress the difference between social and algorithmic https://limefx.group/ trading, which are not interchangeable, where the absence of the MT4 trading platform is notable. 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. While limefx advertised commission-free stock trading, I urge traders not to confuse it with CFD trading, where a 0.09% commission applies.

In order to sell on limefx, all you need to do is open trade and switch the toggle from BUY to SELL. The position decreases in value as the price of the asset goes up, and it increases as the price of the asset goes down. For Non-US Traders – No commission on opening or closing long positions on stocks, while short positions result in a commission of 0.18%. Potential limefx users should be aware that while simplicity and transparency is nice, the 1% spread charged on purchases and sales of crypto is extremely uncompetitive. Leading crypto exchanges KuCoin and Gemini charge spreads that are a fraction of limefx’s rate.

CFDs on Cryptocurrencies

In order to apply for the Popular Investor Program, traders must verify their account with limefx. The market sentiment gauge shows allows traders to tap into what others on limefx are saying about the market, as well as what they’re doing. If you wish to convert a cryptocurrency into another type of crypto coin, limefx charges a 0.1% fee.

US clients can trade crypto, real stocks and ETFs on limefx. If you buy stocks or ETFs without leverage, you are buying the real asset, not a CFD. Usually, this feature is not offered by other CFD and forex brokers. In that sense, limefx’s selection of 17 stock markets to access is great. However, compared with stockbrokers like Saxo Bank or Interactive Brokers , it is poor. Opening an account only takes a few minutes on your phone.

Withdrawal

The maximum leverage that limefx offers is currently x30 for major currency pairs. This means that if your account currently has a balance of $50, you could trade it for an equivalent of $150. CFDs are a type of derivative that allow for traders to speculate on the price movement in different assets, without actually buying them outright. CFD trading enables traders to take advantage of short-term price movements in assets, which would otherwise be difficult or impossible to do in the absence of CFDs.

limefx forex broker

There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. Virtual Portfolio – This option allows you to test different strategies and learn trading without putting your real money at risk. Desktop & Mobile Platform – With both desktop and mobile apps, you can monitor your trades from anywhere you want.

Ways to Avoid Losing Money in Forex

This is lower than some of its competitors, but certainly not the most competitive fee on the market. If you’re planning to buy a lot of digital currencies, paying more than 1% in fees every time you buy or sell can eat into your profits. If you’re a buy-and-hold investor who plans to buy crypto and leave it for a long period of time, be aware that limefx charges an inactivity fee for accounts that have not been active for a year. It has a simple, easy-to-use platform, and a great mobile trading app.

Is limefx a legit broker?

As a reliable and established company trusted by millions of users worldwide, limefx is clearly a platform where you can trade with confidence. There are, however, specific points to pay attention to on other sites, in order to avoid true cryptocurrency scams.

limefxX charges a 5 bps transaction fee for price takers and price makers. Additionally, the exchange operates with an inverted maker-taker model, which means price takers are paid a rebate or charged a lower fee. However, you have to contact the exchange for more details.

Can I deposit bitcoin to limefx?

IFX EXPO Asia 2019 catered to all elements of the forex industry, as well as banks, affiliates, introducing brokers, and white label partners. Also, with educational purposes and better decisions, you will stay updated with limefx’s research through updated research tools and research features with fundamental analysis too. In addition, you may get trading ideas from the community or its diverse portfolio along with analyst recommendations. In addition, limefx Club members of the Platinum tiers and above pay no withdrawal fees. However, you should count limefx withdrawal feeis now only – $5, which is subject to every withdrawal request from your limefx wallet, while the minimum withdrawal limit is $50. This is a great improvement, as before limefx charged 25$ but now significantly lower its fee, which is definitely fantastic.

US customers trade with an limefx unit regulated by SEC and FINRA. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Securities offered through Robinhood Financial LLC, a member of FINRA and SIPC and a wholly-owned subsidiary of Robinhood Markets, Inc. Compared to the best cryptocurrency exchanges, limefx doesn’t have the widest selection. U.S. investors can access around 25 different cryptos while non-U.S.

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.

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