Lime FxFX Review: Possible Scam Broker? Everything We Found Out
Overall, Lime FxFX is among the most cost-effective broker to trade CFDs in Malaysia. No swaps fees are applicable on the MT5 account and MT4 swaps are lower than many CFD brokers in Malaysia. Furthermore, emphasizing educational resources and responsive customer service improves the overall trading experience, fostering confidence among beginning traders. Our research shows that cheap spreads and various account types demonstrate Lime Fx’s dedication to providing flexible trading conditions. While Lime Fx allows deposits and withdrawals in ZAR, the accounts are denominated in USD, subjecting South Africans to currency conversion fees.
Can I withdraw money from Lime FxFX?
Lime FxFX offers 24/7 customer support through live chat on the broker website. However, it lacks other customer care support resources, including email and phone support. The firm also offers one of the most responsive and knowledgeable customer support teams and an informative and clear educational section.
Pros and Cons – Lime Fx Customer Support
Scalpers and high-volume traders who seek to trade CFDs with little or no spread won’t find Lime FxFX useful. According to our review, the MT5 trading account is a better choice for those who use advanced trading strategies. This is also ideal for those who wish to keep their positions open for more than a day.
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs, FX or any of our other products work and whether you can afford to take the high risk of losing your money. Lime Fx generally offers tight spreads on key currency pairs, favoring traders who use frequent trading or scalping tactics. Lime Fx’s MetaTrader 4 platform is well-known for its dependability and full capabilities.
Is Lime Fx a good broker?
With this, the broker guarantees segregated client funds and negative balance protection. This is a significant advantage for investors using mid-term and long-term strategies as charges will not be applied for any positions held overnight. Both platforms are compatible with several languages, including English, Arabic and Hindi.
- If you have any questions, feel free to contact us at We’re always happy to help our traders.Kind regards,Lime Fx Rep.
- Lime Fx has over 50 different payment options, such as Visa, Neteller, Fasapay and bitcoin, as well as a large variety of local bank transfers.
- Over 80% of all the reviews in the Google play store are 5-star reviews.
- Furthermore, South African traders can withdraw these funds whenever they want, based on their available balance.
- It’s also crucial to regularly monitor your investments and adjust your strategies as needed to ensure success.
- CMC Markets, and IG offer a wider range of over 10,000 assets that might suit you better.
In terms of forex, a number of minor forex crosses are not offered. When looking at equities, only indices are offered with no option of single stocks, and only Gold and Silver are available in commodities, on a micro account. In other words, https://limefx.biz/ the broker cannot use your money for the purposes of its own operations and if anything happens to the company, your funds would be safe. It also means that all withdrawals requests can be instantly met without any kind of liquidity crunch.
There are, however, minimum withdrawal limits for all payment methods, though these are minimal, including $5 for Skrill and Neteller. Features like its trading glossary, platform tutorials, and dozens of Frequently Asked Questions (FAQs) help to flesh out Lime Fx’s educational offering. That being said, there isn’t much limefx educational content for learning how to trade or understand market dynamics. It’s worth mentioning that the broker does have a blog and a YouTube channel, yet I was still left wanting more. For example, the “minimum expertise” field lets you choose between newer systems, all the way up to those with legend status.
The demo account helps them boost their trading confidence before going live. The MT5 account, also called innovative account, is an account type for clients with trading expertise. Its trading instruments are inclusive of forex, commodities, indices, cryptocurrencies and stocks. When we used the Lime FxFX demo account, it was good to see emulated live market conditions and real-time prices.
Please don’t hesitate to reach out if you have any further questions or concerns.Kind regards,Lime Fx Rep. Dear Lezidih,We greatly appreciate your positive review; knowing that you find our platform easy to use brings us immense joy. Your satisfaction is our priority, and your feedback motivates us to continually improve our services. Our finance department typically processes payments promptly, and we are keen to investigate this matter further. To assist us in resolving this issue, could you kindly provide us with details such as your trading account number and the withdrawal ID? On a lighter note, we’re curious to learn about your favorite feature on Lime Fx.
We find the platform to be appealing due to its competitive spreads and incorporation of cutting-edge trading tools. The Lime Fx App is intended for traders who want to manage their transactions on the road. This mobile application transfers the core functionality of desktop trading platforms to a mobile interface, making it suited for many South African traders’ fast-paced lifestyles. With a variety of trading account types appropriate for any strategy and skill level, Lime FxFX is a reputable forex broker.
Payment methods like credit/debit cards, bank transfers, and payment gateways have short processing of one to three hours. Yes, Lime Fx offers the Lime Fx App, Lime FxTrader app, MT4, and MT5, which are useful and simple. Lime Fx provides a variety of account categories, including an Lime FxTrader, MetaTrader 4, and MetaTrader 5 account. Lime Fx is committed to fulfilling the demands of South African traders by providing specialized functionalities that address their distinct specifications. No, Lime Fx does not typically charge deposit fees, though third-party costs may occur.
They have taken suggestions into account and appeared to have acted on them a number of times. Firstly, they have their own proprietary app that can be used for account management. This will allow you to create the trading accounts, fund said accounts as well as modify leverage and other trading parameters. The MT4 platform is developed by the Metaquotes company as third-party trading software.
For Lime FxFX this includes the fact that they have only a limited number of assets available to trade in. Whether Lime FxFX Copy Trading is profitable or not depends on various factors, such as the performance of the trader being copied, market conditions, and the trader’s own investment decisions. There is no guarantee of profit with copy trading or any other form of investment, as the financial markets are inherently unpredictable. With a dedicated Copy Trading platform, Lime FxFX users can monitor the performance of the trader they are copying and adjust their copy trading settings as needed. Another significant advantage, according to ForexBrokers.com, is the user-friendly web platform and mobile app, which are great for casual investors, including beginners. We have reviewed the available methods to connect with the customer support staff at Lime FxFX.
The overall score might seem lower than what each category’s score indicates. This is due to the fact that Lime FxFC forex trading is unregulated outside of Europe. We consider it to be very important that a broker is regulated by a regulator who offers strong trader protection. The overall score is therefore adjusted down due to the broker being unregulated. We do not recommend that you use this broker if you live outside the EU. Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time.
Some market analysis tools are economic indicators, market information, forex news, interest rates and holiday calendars. These tools effectively judge the market environment and make decisions that are most appropriate per the environment. Lime FxFX has multiple contests, including a demo contest and an Archive contest. You can win up to a $1000 prize in the demo or Champion contest by efficiently trading with your demo account. Trading in the Muslim community is considered haram, but swap-free trading accounts, which do not include interest charges, are considered legitimate. Through Lime Fx FX, you can access additional perks like autochartist signals, evolving trading conditions, weekend trading with digital assets, copy trading and a wide range of educational materials.
Matching your base currency to that of your deposits and withdrawals can be an important way to help you save on paying conversion fees which ultimately increase your cost of trading. When it comes to trading platforms Lime FxFX provides the top MT4 and MT5 trading platforms. TradeForexSA is a reader-supported South African magazine that aims to provide Forex guidance to beginner and experienced traders. Every year, together with its sister brands FxScouts and FxAustralia, it recognises the Forex and CFD brokers that have excelled over the previous twelve months.
An important benefit is the bilingual service, which guarantees that traders worldwide—including South Africa—get help in their language. Furthermore, users earn reward points equal to 1% of their rebates. This multi-tiered approach to compensation ensures that traders maximize their earnings while actively participating in the market. No, while customer support is generally helpful, some users have expressed a desire for more in-depth technical assistance.
