How to Spot Forex Scams Most Common FX Scams Explained

No matter which regulator you will choose, your account is protected by negative balance protection. Forex and CFD are trading with leveraged financial products. The broker will automatically stop you out by a margin limit.Your account balance will not become negative. LimeFX is an international provider for trading forex , CFDs and options.The company was founded in Ireland in 2006 and has since received a number of awards. The company is also regulated internationally on a number of occasions. Also, the broker is a sponsor of Manchester City which shows me seriousness.

LimeFX scam

The Forex market is decentralised, which effectively means that there is no centralised physical location where investors can go and buy/sell their favourite currencies. Decentralisation also means that the market is not controlled or supervised by any single entity or institution, but rather by regulators or authorities in different regions. In Forex trading, money is the commodity traded between participants. When you buy one currency, you are simultaneously selling another, and vice versa.

What is LimeFX? – The company presented

Their customer service officials are empathetic and friendly. If you ever have a complaint, you can easily reach out to them via the media, email or their mobile lines. To avoid that level of stress, going with a broker that transcends bounds will do alot more good. LimeFX provides traders with popular and not so popular instruments. Whatever you intend to buy or sell can be found on this platform.

LimeFX offers many account types, but they all share some similarities. For example, traders can choose between micro trading lots or mini lots with all accounts. In addition, MetaTrader 4 and LimeFX Go mobile platforms are available on all account types.

If you are currently trading with LimeFX, please share your experience using this broker in the comments below. ForTrade is also a popular broker, with a license and regulation from Canada, Australia, Europe and England, see here. LimeFX is an international Forex & Options broker, that is part of the Ava Group of companies.

The broker’s own mobile platforms comprise of AvaOptions and LimeFXGO, in addition to the entire MT suite for Android and iOS smartphones, which includes MT4 and MT5 . Ultimately, the broker provides traders with acceptable research expertise. While the company claims to be authorized across five continents, it’s not authorized by reputable bodies such as the Financial Conduct Authority in the UK. In addition, it does not accept clients from the U.S. yet it’s a multinational organization. Non-disclosure is illegal and also misleading to investors.

Is LimeFX a Scam? | Security

Registering on LimeFX does not require unnecessary paperwork. The first step is signing up and providing the required details. After that, users will be prompted to upload their verification documents. The verification documents will be accessed to ensure they are real. Once the user is cleared from this stage, the account will no longer have any form of restrictions and will be considered a verified account. LimeFX ensures full compliance with the know your customers and and anti-money laundering policies.

  • In addition to the easy to navigate interface and trading tools, there is an extra protective feature – avaprotect, to help minimize loss on the part of traders.
  • Stop orders like limit orders ensure that commodities are bought or sold at a price range.
  • When a brokerage firm fails, investors’ assets are covered by the Securities Investor Protection Corporation .
  • We use dedicated people and clever technology to safeguard our platform.
  • Choose between a fixed spread account or a variable spread account.

Trading Forex, CFD, Binary Options, and other financial instruments carries a high risk of loss and is not suitable for all investors. The information and videos are not an LimeFX recommendation and serve to clarify the market mechanisms. The texts on this page are not an LimeFX recommendation. Users are offered the opportunity to trade at good conditions. There is also a social trading option and no hidden fees.

LimeFX Overall Ratings

This is simply not true and even the best and most reputable solutions cannot ensure 100% accuracy or even close to that. This company has deep pockets and a lot of lawyers, and they’ve had plenty of practice wearing ordinary people down with red tape. MoneyBackHero specializes in recovering money for people like you. You should call and receive a free consultation to learn your options. Many financial analysts actually consider arbitrage to be a healthy practice since it forces the market to eliminate inefficiencies quickly and return to a state of sanity.

In addition to direct trading, investors can use portals such as DupliTrade, ZuluTrade or LimeFX WebTrader via their browsers. Mr. Ferguson came to LimeFX after serving as the European & Asian Senior Treasury Manager at Bristol Myers Squibb, a globally leading pharmaceutical company. Prior to that, he served as Head of Corporate Forex Broker for large international specialist banking and asset management groups in London & Dublin. He joined LimeFX in 2008 as Director of Trading & Risk Management. Mr. Ferguson holds degrees in Computers and Business from University College Dublin, Ireland and from Lindenwood University, Missouri, USA.

LimeFX scam

It could be negative reputation damage orchestrated by their competitors, but it could also indicate that there are some questionable activities going on around the company. Financial instruments include shares, derivatives (only cash deposits made to fund/profits realised from investing in derivatives), debt instruments and cash deposits. It does not include property portfolios, direct commodity ownership or notional values of leveraged instruments.

Update to the Review Below

There are also helpful videos, eBooks, and order types available. LimeFX’s educational resources can answer a wide variety of questions. The company has won numerous awards over the years and has a strong reputation in the trading industry. LimeFX’s customers receive an average service, aside from education and customer support.

Another advantage is that you can receive trading signals from professionals. The MetaTrader is clearly one of the best trading platforms. We recommend using version 5 because it has more functions and is more user-friendly. The broker offers anything you need for trading successfully on the markets. From our experience, these platforms are reliable for professional trading. We will tell you the benefits of MetaTrader 4/5 and the other platforms in the following.

  • LimeFX is one of the best brokers available for foreign exchanges and trading of commodities.
  • It goes against our guidelines to offer incentives for reviews.
  • LimeFX scam has led to a pile of reports and concerns coming from investors globally.
  • LimeFX prides itself for its multi-lingual customer support provided in 14 languages, so no matter where you are, you are probably covered.

In forex trading, a market maker is a business or individual who’s responsible for finding a buyer for every seller and vice-versa. For example, suppose a trader in London wants to convert €5,000 into British Pounds. If they’re going to do this, there needs to be a buyer or buyers for those Euros. Further to that, it also investigates its clients who trade with arbitrage. There are instances where LimeFX has suspended an account that has engaged in these forbidden services. It implies the suspended user won’t be able to withdraw funds from their account or exercise trading.

Use indicators, drawing tools, or multi-charting for technical analysis. This is probably the most not-so-subtle scam, but it still manages to net customers. In this scam, investors are encouraged to join a service or limefx courses scam company that trades the Forex market, and they will earn fixed periodic profits. This is a pure scam because the Forex market is fast and dynamic. Profits and losses are part of Forex trading and cannot be forecasted.

We’re a fund recovery expert that strives towards helping scam victims get their entitled money back. While this process might seem cumbersome, our skilled team makes it as easy as pie. Once you’ve registered your case, we handle it with due diligence. The first step focuses on confirming whether the provider is legit or not. Firstly, investigators at Financial Fund Recovery acknowledge that LimeFX isn’t a scam.

And this protection is only offered for customers of firms who are member of SPIC. The source of this information is the website and the broker’s trading platform listed in the Web section of this review. Please verify whether the broker is authorized to provide its services in your country of residence in accordance with the legal regulations that apply to its business. While dealing with a centralized company can be a potential security risk, LimeFX has done everything correctly so far to convince its customers their funds are safe. Platform’s spreads are average-to-competitive, and you’ll find an excellent selection of educational material that’ll guide you through your trading experience.

On LimeFX, traders are not charged processing fees whether they are trying to make a deposit or withdrawal. Almost all brokers charge processing fees on withdrawals and deposits. Some of these fees are on the high side and the trader ends up getting very little from what has been earned. LimeFX understands that the customer support department is the bridge between customers and the company.

In a specialized market like forex, there are relatively few active traders compared to the number of people who are involved in buying and selling stocks. As a result, the buyer for those Euros could be from anywhere in the world. For example, another trader in Rio de Janeiro may want to exchange their British Pounds for Euros. Before we get too deep into the weeds, we need to talk about market-making.