The bespoke software enables users to track master traders and their live performance, control portfolios on the go, view how their funds are invested and manage risk in real-time. There is also no inactivity fee for dormant accounts or commission charges for deposits, withdrawals or currency exchange. Traders who live within the EU will have their accounts placed under Lime Fx Markets Cyprus Ltd. Lime Fx Markets Cyprus Ltd is regulated by the Cyprus Securities and Exchange Commission (CySEC) and traders within EU can therefore trust Lime FxFX. Lime Fx has improved its educational offering with webinars and live trading session recordings and expanded its educational articles and videos.
Forex Risk Disclaimer
We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points. Founded in 2011, Lime Fx holds a regulatory license in Europe via its Cyprus-based entity – Lime Fx Markets Cyprus Ltd – which is regulated by the Cyprus Securities and Exchange Commission (CySEC). In South Africa, Lime Fx provides financial services to clients through an intermediary, Orinoco Capital, which is licensed by the Financial Sector Conduct Authority (FSCA). Lime FxFX does not have authorization from the Reserve Bank of India (RBI). In September 2022, the Indian Enforcement Directorate (ED) froze several bank accounts belonging to Lime FxFX India and related companies for illegal limefx scammers forex trading.
Similar apps
Once you login to your personal area, you can set up your copy trading profile and deposit to your wallet. The broker also applies 3D secure Visa authorization when processing credit and debit card transactions. Also ensure you add additional security settings such as two-factor authentication (2FA) when using Lime FxFX platforms. The broker accepts clients in 150+ countries, though it is worth checking which entity you will receive services from. All withdrawal requests are processed within 1-3 hours during business hours, though the time taken for funds to clear back to the original payment method may vary. You can access all the tools, features and functionality found on the web terminals including one-click trading, chart customization and full order management.
It’s worth noting that Lime Fx’s primary execution venue is one of its own entities in St. Lucia. I came across Lime Fx company when I was just scrolling through various financial resources and somehow I saw an advertisement for the company. We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs.
We do not recommend that you use this broker if you live outside the EU. Lime FxFX has achieved a solid position in the financial trading markets, executing an impressive 1+ billion trades from over 10 million live customer accounts. The founder and owner have ensured the brand has amassed a global reach, with trading services now spanning 185+ countries. Most of the traders who use this broker are located in Indonesia, India or Malaysia. Traders benefit from a range of additional educational features and trading tools at Lime FxFX, including video tutorials and webinars, plus regular forex market insights and news. The brokerage also offers profit and margin calculators, as well as a forex signal service with the Autochartist plugin and live quotes.
Popular Forex Broker Reviews
Make sure to check all bonus terms and conditions before participating. When we used Lime FxFX’s deposit bonus scheme, we were only permitted to withdraw a reward after completing the minimum volume requirement. So, if you claim the 50% bonus on a $100 limefx forex broker deposit, the minimum volume requirement will be 25 standard lots. Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time.
- Opening an account from one of the 185 countries where this license is used is considered high risk.
- You can set SMS price alerts and app notifications of market movers.
- It’s important to note that minimum deposits and trading costs will also depend on which Lime Fx entity you choose for establishing your trading account.
- The company’s mission is to provide outstanding forex and CFD trading services, via cost-effective, transparent conditions on a worldwide scale.
He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content. For example, the “minimum expertise” field lets you choose between newer systems, all the way up to those with legend status. I was also pleased to see a risk score assigned to each trader, to help users differentiate between traders with historically conservative results versus those that have had more volatility and risk.
Our experts confirmed incorporation on 15th September 2011 and found an active regulatory registration under the trading name. It is important to note that SVGFSA does not regulated Forex trading nor binary options trading.1 This means that all Forex trading done through Lime FxFX.com is unregulated. There are, however, minimum withdrawal limits for all payment methods, though these are minimal, including $5 for Skrill and Neteller. Note, some local payment methods may also be offered depending on your country of residency.
Lime Fx has struggled with pricing in the past, but has vastly improved in this category and is now gaining on the lowest-cost MetaTrader brokers. In addition, Lime Fx boasts no slippage on 97.5% of its executed orders, and no overnight carry costs, yet has restrictions in place that can hinder high-frequency traders. Above all, our experts assess whether a broker is trustworthy, taking into account their regulatory credentials, account safeguards, and reputation in the industry.
Lime Fx Markets Cyprus Ltd is a Cyprus-based company regulated with licensing from the Cyprus Securities and Exchange Commission (CySEC). This is the company that Lime FxFX uses to offer forex trading within the European Union. Accounts belonging to traders who reside within the European Union will be placed within this company and will see their accounts regulated by CySEC. CySEC offers much better legal protection, and your legal protection is, therefore, a lot stronger if you open an account with Lime Fx Markets Cyprus Ltd.
Our experts were also offered the chance to win real funds by participating in the Lime FxFX Champion demo contest. Upcoming competitions, duration and rules can be found on the broker’s website. All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor.
To evaluate brokers, we test the accounts, trading tools and services provided. Over 100 data points are considered, from minimum deposits and trading fees to the platforms and apps available. Our broker ratings are also informed by the experience of our researchers during the evaluation process.
Lime FxFX acts in full compliance with international legislation and regulation standards. With this, the broker guarantees segregated client funds and negative balance protection. They might not have completely figured out the part of keeping their costs low, but they know how to keep clients safe. Both platforms are compatible with several languages, including English, Arabic and Hindi. Lime Fx is regulated in Cyprus by the Securities & Exchange Commission (CySEC) and in South Africa by the Financial Sector Conduct Authority (FSCA). Lime Fx holds just one Tier-1 license and one Tier-2 license, resulting in a grade of “Average Risk” within the ForexBrokers.com Trust Score rating system.
Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA). DayTrading.com is committed to helping traders of all levels make informed decisions about which broker to trade with.
Though it has been granted regulatory status in Cyprus and South Africa via an intermediary (Orinoco Capital), Lime Fx’s lack of additional reputable licenses heavily weighs down its Trust Score. Becoming regulated in more jurisdictions – especially in Tier-1 jurisdictions – will go a long way towards building trust with existing and prospective customers. Lime Fx (formerly Lime FxFX) offers a basic, low-cost MetaTrader platform experience alongside its proprietary web and social copy-trading platform. To delete your Lime FxFX trading account, you will need to get in touch with the customer support team.