Is forex broker LimeFX Scam or Not? 

When people get wind of LimeFX, they cannot help but ask: Is LimeFX a scam or not? The question is essential for beginners who can’t easily detect scammers. Beginners have less money than professional traders, and any loss would prove more significant. 

Today, we will introduce you to LimeFX, the trading conditions fostered here alongside positive, negative, and neutral reviews certain reviewers lodged to create an independent opinion about LimeFX.

LimeFX Review

A CFTC regulated broker, LimeFX provides investment services to clients internationally. Since being founded in 2008 by trading enthusiasts and financial experts, LimeFX has been growing impressively. Initially, there were a minimal number of countries wherein LimeFX could operate. But now, its reach has expanded exponentially. 

LimeFX falls under the category of STP brokerages. Thus, traders are required to pay others directly. 

The financial assets accessible through LimeFX are numerous. These include classical currency, cryptocurrency, stocks, oil, among others. Apart from these, let us enumerate the many other trading benefits available through LimeFX. 

1. A multi-level safety system protects all data. Traders are assured that no scamming or fraudulent entity can steal a trader’s money, making all operations within LimeFX 100% reliable. Thus, accusing that LimeFX cheats are ill-conceived.

2. The order execution speed is very high. LimeFX controls all operations effectively. One will find these duly recorded in a journal, permitting trade history reviews when necessary.

3. LimeFX allows greater flexibility, permitting risk management of utmost efficiency well by providing more than 180 financial instruments.

4. LimeFX provides effective analytics. LimeFX offers convenient professional instruments to create excellent price movement prognoses or prepared analytics reading produced by experienced investors. 

LimeFX: A Leader of Trading Technologies

LimeFX is an expert in trading technologies. Before becoming a broker, LimeFX created robots and artificial intelligence for algorithmic trading.

LimeFX provides several services, including an educational center where you can learn about trading through videos, webinars, ebooks, and other educational materials. 

LimeFX’s clients are in on several special offers: 

1. Investor Simulator

Through this feature, traders are given a due chance to test out trading minus risks. Simply put, this improves on the traditional Demo Account. Here, one can quickly learn several trading secrets. Despite being just a simulator, this is retained in one’s account as a bonus when money is earned. Should one lose, money is simply returned. LimeFX’s Investor simulator helps practice personal trading strategies or if one wants to try out trading lacking endemic, common risks. The simulator allows for two weeks for proper testing. LimeFX’s experts recommend this duration as a sound timeframe for one to learn the basics of trading efficiently through a hands-on approach.

2. Educational Center

LimeFX’s Educational center is where these are sufficiently acquired if one lacks particular skills and knowledge in trading. The site’s segment sees regular updates. And even if one is already a professional trader, chances are, one can still gain from browsing through the center as it holds plenty to learn from.

3. Straight-Through Processing (STP) Technology

Having this feature sufficiently proves that LimeFX is a legitimate brokerage. Through the STP technology, direct trading is permitted across market participants. This technology allows LimeFX to create the necessary conditions for its clients to profit and prosper. We will discuss STP technology further in the next segment. 

LimeFX Account types 

LimeFX offers three account types. Each was created with a specific type of trader in mind. Regardless if one is a beginner or a professional, LimeFX has an account type ready. Additionally, LimeFX offers Islamic accounts for traders who are part of the Muslim community. Through the Islamic Account, otherwise known as Swap Free account, these traders can freely profit from trading without violating Sharia law. 

LimeFX’s account types are categorized by minimum deposit. Beginners are only required to pay $500. If you are professional, you can create a VIP Account further divided into three different subtypes: 

1. Silver

The most basic version of the VIP Account, Silver accounts, enjoy professional analyst support.

2. Gold

Gold accounts provide a financial analyst alongside regular market reviews every week. The duration of the weekly study lasts for 30 minutes, sufficing a basic understanding of varying trading situations of given market assets.

3. Platinum

Platinum accounts offer comprehensive, personal trading plans customized to fit traders’ every trading need. 

All LimeFX VIP Accounts subtypes provide faster transactions and withdrawals. Such is the main advantage professional traders are able to receive. More often than not, they are the ones who understand market situations better; their grasp of trading situations magnanimously faster. 

As already made apparent, VIP Accounts are just as suitable for beginners who are able to deposit more significant amounts. Professional traders were highlighted earlier primarily because they can produce more considerable capital and, in light of experience, are able to avoid incidences of potential loss. Worthy of note, however, VIP Accounts can bring a lot of positive experiences for new traders. 

For instance, novice traders are in on more incredible successes should these traders elect to open VIP Accounts and use the Investor simulator service. The probability of getting bonus money after two weeks would prove higher because the novice trader gets professional advice and thus averting possible losses, effectively allowing the beginner to become more qualified and earn a more significant amount of money. Thanks to the analyst’s help, the novice’s trading activity will gain more integrity, making them more efficient and wholly attractive. 

LimeFX sets the following conditions for lodging orders on the financial market:

1. The minimum amount a trader needs to invest is pegged at 500 dollars.

2. A trader can find the recommendable trading instrument thanks to more than 200 different financial instruments.

3. A selection of account types traders can easily choose from are available differentiated by capital, professional level, and features offered.

4. All orders made by traders through this broker are executed fast.

5. The platform created by this company supports One-Click Trading.

6. Traders are allowed withdrawal through any known payment method. 

Dispelled by LimeFX: Myths About Trading 

Many people are under the contention that when one delves into Forex trading, one would likely fall victim to scams or other fraudulent financial activities. Such is a generalization as one cannot assume how Forex trading works without the benefit of trading in the first place. 

Let us enumerate the myths non-traders usually believe about Forex trading here. 

1. Trading is gambling. Simply untrue; a complete misunderstanding of how trading works. Trading is not gambling, it is a legitimate financial activity that some even consider a profession. If a person believes this myth, they must think that Warren Buffett is a gambler. A good knowledge base and a specific set of trained skills are needed if one is geared to becoming a successful trader. Studying all about the trading discipline takes time to become a hardened, objective, and well-experienced trader. In trading, the result has plenty to do with what traders had chosen to do. Gambling, however, relies solely on luck. Unfortunately, many people treat trading as if it were gambling; their trading approach mirrors measures done within any gambling activity, the main culprit why they will never achieve the level of success they intend to. Emotions usually drive gamblers; this is the very reason why even if gamblers get vast amounts of money, they tend to gamble them further, thus opening themselves to losses they should have already averted. So remember the belief that “Trading is gambling” is simply a myth.

2. Success is guaranteed. A polar opposite of the earlier myth, this myth capitalizes on a delusion. Almost every non-trader who finds themselves attracted to the trading business thinks that success and wealth are guaranteed. Since any trader would hope that this is the case, this is an unfortunate belief to hold. One needs to put in a copious amount of time and work to achieve their financial goals through trading. And this, of course, is not specific to trading. As this is the case finding a brokerage service that could guarantee one high income is simply impossible. In the sphere of trading, almost all results are up to you. It is also worthy to note here that being a professional trader does not diminish the possible risks in trading. Every political, economic, and social event will have an impact on your trades. Every financial crisis can cause you to lose prior gains.

3. There are some assets with prices that continuously grow. This is simply incorrect as the direction of asset prices is constantly changing. Note that all assets are volatile to a certain extent, something of good news because if one buys a financial instrument when its price is at the lowest, they can earn more.

4. Risks are always at a minimum. This is disputed by a simple fact: the greater the income potential is, the greater the risks. This is a fundamental law of trading and cannot be revised to your favor. For instance, trading stocks is better than cryptocurrency if you are a beginner in light of the greater volatility of crypto money. A trader should constantly diversify risks through their distribution across different instruments in the investment portfolio. 

A trader should take away from these 4 myths that the broker is only responsible for risks that depend on the inner workings of its system. It should not be, in any way, held liable for any losses that a trader incurs that is based on the string of decisions he or she had made. It is stressed here that almost all factors that affect the trading result are always not up to the intermediaries that the trader chooses to enlist. 

LimeFX: Scam or not?

The easiest thing for novice or non-qualified traders to say when they encounter financial losses through a trade done with LimeFX is that LimeFX lies. The statement oversimplifies the problem, a baseless accusation, outright incorrect, and a completely useless measure. Mind you, some brokerages really scam their clients. LimeFX is definitely not one of them.

To help you determine possible scammers, let us enumerate some signs that could help you determine if a  broker is a fraud or a scammer. For the sake of argument, we will compare their characteristics against what LimeFX offers: 

1. Absence of regulation

A majority of dishonest companies are not regulated. You can be assured that LimeFX is legitimate as it enjoys regulation by the CFTC – the government organization controlling traders’ rights in the U.S. Additionally, this company is sanction by a number of different non-government organizations around the world. This regulation of multiple authorities is enough to prove that LimeFX is a safe and honest broker to do trades with. And even if LimeFX tries dishonesty, it simply does not have the luxury of being one as CFTC will only take away its license.

2. Very high spreads and commissions

These have significantly decreased over time. Naturally, the more money there is in your account, the more attractive the trading conditions would appear. However, if the relationship between the two proves too wide, a scam is probably in the works. Numerous LimeFX clients can testify that the spreads available through the firm are competitive. On the other hand, other brokers can opt to mask high spreads with low commissions and vice versa. While it does not automatically point to a scam, such measure is dishonest, painting the broker in a bad light and putting all other facets of their service questionable. After all, if the broker is capable of such dishonesty, what’s going to stop it from performing other dishonest actions just to earn?

3. Troubles within the brokerage’s inner system

For the sake of order and balancing of funds, brokerages may opt to prevent clients from withdrawing money for extended periods. Such should be established within their terms early on to avoid unnecessary questioning. And if payments are stable, then all are good. However, if the broker paid immediately before and then suddenly unexpected and unclear delays are encountered without any clear explanation, this is held suspicious by any lens; it may lead to a possible scam. These can vary, so we are advised to be sharp in noting the sudden changes. Delays are always in the cards due to bugs in the trading platform and even the website itself, responses from customer support that take forever and are not typical for this broker, suddenly being blocked from your account, and the like. Also, if the price changes prove too erratic and unexpected cancellation of orders is in abundance, these may also point to possible scams. LimeFX’s terms are concrete, not letting clients speculate or subject provisions to interpretation. Hence, untoward situations are effectively diminished, perishing possible client complaints even before any thought arises.

4. Radical price discrepancies of financial instruments compared to their actual prices in the market

It is only logical for brokerages to set their own price as the difference between the broker’s set prices and asset prices defined by the world market is the firms’ profit. Simply put, no broker would want to work for free. However, if the broker’s prices are radically different from what is set in the market, one should employ curiosity. There are some exceptions, however. For example, if significant news breaks, such may directly impact the market, leading to rapid price changes. A certain asset’s price associated with such news may largely differ from other exchanges, another regular occurrence.

5. Moreover, some traders earn significantly through such differences. Traders call the strategy, “Arbitration”. LimeFX does away with questionable measures. LimeFX will notify clients ahead of time should prices change or pertinent economic news to impact set asset prices.

6. How the company works in general

Some brokers do not bring deals to the market. These are generally lumped as scammers and frauds. However, some STP and ECN brokerages are deprived of trading with clients directly, thus averting shady transactions and any conflict of interest. All honest brokers work via NDD technology, allowing traders to make deals with other financial market members directly. Those brokers do not harbor any conflict of interest. They take a commission or some amount from clients and earn significantly through them. NDD brokers need not lie if they want to earn; they can always do it honestly. LimeFX clients are thus in good hands as it employs STP technology. 

LimeFX Looks Forward: What is STP technology? 

As committed in a preceding segment, we will be discussing what STP technology is in greater detail. 

In theory, Straight-Through Processing or simply STP Technology is a tool for a method of safe transaction execution. STP protects traders from possible abuses by their brokers. A type of NDD technology, STP provides a venue for the broker to send the client’s orders directly to liquidity providers like banks. The more liquidity providers collaborate with the brokerage, the more protected the client becomes. 

Providing holistic access to the real market and the opportunity of an immediate execution without dealing with the broker makes STP extremely attractive for most traders. 

All that the STP broker like LimeFX does is increase the price of the assets by several points. 

Trading via an STP protocol is entirely anonymous. Meanwhile, order execution occurs significantly faster compared to doing it without the support of technology. Here, LimeFX shines yet again, further solidifying that the broker is not a scammer.

The largest banks globally and big financial companies that trade different assets in huge amounts are either market makers or liquidity providers, as these are also named, for this broker.

At LimeFX’s employ, STP is an automated network where order processing starts with the position’s opening and duly finishes after its closing. Clients need not worry about their investments because brokers are not really interested in the private finances of the clients.

STP brokers like LimeFX get the money regardless of the profit or losses of a certain trader. The broker doesn’t take any risks. This is the reason why it doesn’t mind winning or losing. Moreover, they are interested in their clients’ success because investors will bring in more money if they get more. In light of this, brokers very often create educational centers where traders can become more successful. LimeFX is not an exception. 

LimeFX’s Trading platform 

LimeFX create its own trading platform.  To access this, you only need to go to the LimeFX official website and register. Once you have created your account, you need to enter your LimeFX login credentials and make your first deposit. After this, you can already start trading. 

The platform is compatible with any device, regardless if a desktop unit is immediately available or any mobile gadget. Of course, a stable internet connection is one of the most essential requirements in using LimeFX’s platform. Through the software, a lot of different indicators, types of graphics, time frames, and the like are at the users’ disposal. 

Another additional service LimeFX offers is Binary Options. 

Binary Options refers to a type of financial instrument that allows traders to guess what direction the price movement would be taking at a certain moment and where the asset’s price will end up in a future time.

Mobile users are allowed to download and open a mobile version of LimeFX’s trading platform through the broker’s official website. The mobile application has a straightforward and intuitive interface. Every beginner will be able to understand what every function is for automatically. 

To get started with LimeFX’s trading platform, one only needs to register through the LimeFX.com site, then enter your LimeFX login credentials, and start earning money.

Special Features Offered by the LimeFX Forex broker

One of the most interesting features that LimeFX offers is its support of Binary options. Additionally, you can use the leverage if you want to earn more money.

However, understand that leverage increases the risks traders can encounter. If 1:100 leverage is chosen, with an investment of 50 dollars made, trading 5,000 dollars is held possible. But as a fee, the broker will have to pay 4,950 USD for you.

Additionally, this company offers a Demo Account that it recommends to beginners to taste trading without the endemic risks and professionals who may want to test new trading strategies. Using a Demo Account and the Investor Simulator, and the VIP Account can bring the most significant results to your learning process. Also, if you are a professional trader, you can consult with LimeFX’s other professional traders. Doing so grants you greater effectiveness in trading. 

LimeFX Forex Reviews

One of the best methods to ascertain the reliability of a brokerage is to read the reviews written about it. It would help if you perused through the number of positive and negative reviews and, of course, what the content of each is saying. Both these components are crucial. However, you have to pay close attention to the negative reviews as well as it stands as one of the best ways to determine a scammer from multitudes of brokeragesbecause satisfied traders seldom leave positive feedback, while unsatisfied ones write negative reviews. 

Let’s read through some reviews to determine if LimeFX is indeed a fraudulent entity or merely a victim of bad press. 

Positive reviews

1. I can say only good things about this broker. I have been working with it for more than half a year. I am satisfied with trading conditions. As for me, the most exciting feature is an investor simulator. I wasn’t able to make a profit, but my money has been returned. These were my first steps as a trader. There couldn’t be any other results because beginners have very little chance to have a huge profit. Sometime later, I was able to earn my first money via this company, and I didn’t have any trouble with a withdrawal. Money has come to me in 4 days. This is not a bad result for me.

2. Thanks to this company for help in becoming a good trader. I had a very good experience. That’s why I am continuing to work with this company. I have read all texts and watched webinars made by this broker. Its educational center is excellent. Also, I like their trading platform. It is convenient and has a user-friendly interface. Thanks to this fact, I understood how to predict the movement of prices very fast. The broker pays money that I withdraw in relatively short terms. It is not immediately, naturally, because it has to check all transactions on the honesty of all operations.

3. I am glad to collaborate with this perfect company. Their managers are polite and helped me very much. The trading platform is fantastic, conditions are normal. I did not trade until I found out about this company. Now, I am a trader and was able to earn my first income and got money in the declared time. Investor simulator is the best feature, really. I could earn my first money using it. Since I didn’t lose money, I had more to invest. After some learning, I could manage to earn my first income. This is great news. 

As seen through the reviews above, beginners are glad to collaborate with LimeFX. This is understandable because it does a lot to help them make their first steps in immersing in the financial market. LimeFX is simply a great brokerage for new traders. 

Neutral reviews

Neutral reviews usually describe both the positive and negative sides of a certain company. In our situation, many neutral reviews say that these opinions are honest as opposed to positive and negative reviews that can be bought or fabricated by the company that is being reviewed. LimeFX has received numerous neutral reviews. Some of them are sampled here:

1. Not a bad company. I can’t say that it is the best broker because I worked with brokers with a smaller minimum deposit. Nonetheless, this is a good choice for traders who only start their way. I am not satisfied with the terms of withdrawal. They are too long. I know brokers who withdraw money significantly faster. At the same time, this company pays. In general, I don’t mind working with this broker. I keep it in reserve.

2. Trading conditions are good. Special features are great. This company pays honestly. I would be satisfied if there wasn’t one disappointing fact. The technical support is annoying. They wanted me to invest more. I and only I can decide how much I want to invest. These are my finances, and no one has the right to tell me how I have to spend them. In general, this complaint isn’t only about this company because almost all brokers want our money. This is understandable. The more we invest, the more is their commission. However, they should not be so annoying. In other aspects this company is good.

3. Unfortunately, this company doesn’t have a mobile version of the trading platform. I need to use the web. This is not so bad, I can do it. But this is quite inconvenient.

4. LimeFX official site http://limefx.com is quite inconvenient, but this isn’t a problem for me. 

As shown above, neutral reviews often describe the same points that the positive ones have pointed out. And while people do have varying opinions, it is quite evident here that LimeFX  is a reliable brokerage firm, according to the reviewers. 

Negative LimeFX customer reviews 

Of course, LimeFX is not impervious to negative reviews. Let us share with you some f them here: 

1. Very high minimum deposit. That’s why this company isn’t for me. It is unfriendly for traders with few financial possibilities. Can I say that LimeFX lies? No, this is an honest broker, but not for me.

2. I want immediate withdrawal. I don’t want to wait more than one day.

3. I am not comfortable with their system of withdrawal LimeFX fosters. Don’t get me wrong, LimeFX has let me withdraw on numerous occasions, but the fact of the matter is, I had to wait for a long time. 

As we can see, these reviews merely describe the experience of the users with LimeFX. The three reviews did not in any way say LimeFX is a scam. We thus leave it to your discerning mind whether or not enlisting the services of LimeFX would prove a good idea.

The Takeaway: Trade Through LimeFX Today! 

A lot of people find reasons to suffice why Forex is a scam, despite not being able to try out trading professionally. This throws suspicion on these individuals’ intentions and paints a decent brokerage like LimeFX in a negative light. So if these individuals stand by their claims that a LimeFX fraud is factual, how can these parties possibly know this without having the benefit of working with the broker yet? Is LimeFX a fraud? With its regulatory status, its offering of the STP Technology, and the content of the reviews it has received, we can confidently say LimeFX is NOT a fraud. 

The earlier discussions made it clear as well that as trading is not equivalent to gambling given the former entails great learning and analysis, the trader is the one who is entirely in control of possible results. That said, LimeFX, or any other regulated brokerage for that matter, should not be held liable to any potential losses that you may encounter while trading.