LimeFX – Scam or legit forex broker

Not your typical brokerage firm, LimeFX impresses with its numerous offers, painting itself a positive picture worthy of traders’ trust. However, doubt and misgivings are endemic to attitudes within the trading industry. Assumptions are quickly drawn when people get wind of LimeFX in conversations. Questions are asked with unclear intentions. Most glaring of all are inquiries asked to extract LimeFX’s legitimacy as a brokerage. 

People, traders, non-traders alike ask quite sneeringly or with retractable fangs: Is LimeFX a scam? Is LimeFX a fraud? Will I lose my money if I engage with LimeFX? It is worse when traders flat out declare they will not use it because of something heard or read. 

Nonetheless, traders can take heart and be assured of LimeFX’s legitimacy in light of regulatory status and offers, which we will discuss in succeeding segments. 

The questions thrown around are valid, to be honest. These are understandable because no one wants to lose money. Everyone becomes wary when it comes to their finances. As such, collaboration with a reliable brokerage is complicated by the very factor of legitimacy as traders tend to think it is solely decisive for trading success.

Today, we are going to answer, “Is LimeFX fraud or not?” Naturally, basic information about LimeFX takes front and center. The criteria for recognizing dishonest brokers take a secondary spot, with it linked directly to LimeFX’s scrutiny. 

Scrutinizing LimeFX: What to Expect

Scrutiny of LimeFX’s services and reputation will bring readers to look into the following:

1.     LimeFX’s history

2.     LimeFX as an STP Brokerage

3.     Trading conditions fostered by LimeFX

4.     LimeFX’s many offers

5.     LimeFX’s own trading platform

6.     Why LimeFX is not a scam

7.     Online reviews about LimeFX

Indeed, these paint quite a premise. Daunting in both length and topic, these segments aim at proving one thing: LimeFX’s legitimacy as a brokerage.

LimeFX Review: A Short History of the Broker 

A brokerage of repute, LimeFX specializes in Forex and Binary Options. Apart from its specific niche, LimeFX’s mission is clear: to groom traders into becoming financially intelligent and financially independent. The CFTC regulates LimeFX. LimeFX’s regulatory status alone says volumes about the broker’s reliability or how the global trading scene need not fret when dealing with LimeFX. 

Declaring LimeFX’s CFTC regulation means a strong validity of its services. The CFTC, a U.S. government-sanctioned entity lays down highly stringent requirements before granting license to any brokerage. The United States alone is strict when it comes to granting brokers access to its country. In short, brokerages going under CFTC scrutiny will have to go through a needle’s head before it can operate in the United States. Coupled with American Inflation, Business laws, Labor laws, and Trading laws, these factor into the CFTC’s decision to either take a brokerage such as LimeFX under its wing or disregard the entity altogether. In LimeFX’s case, it had been given the green light. 

Much revered and desired, LimeFX went under the CFTC’s sanction, making it easy for us to answer: 

Ø  Is LimeFX fraud?

Ø  Is LimeFX cheating?

Ø  Is LimeFX scam? 

The answer to all three question is a resounding NO. 

If LimeFX does choose to cheat, it is mandated that CFTC revoke its license, leaving LimeFX with a failed business and a sullen reputation.

Incepted back in 2008 by a group of financial experts, LimeFX started as a provider of robots for automated trading. Fast forward to the present, and LimeFX had flourished into the brokerage firm we know today. 

LimeFX has since expanded its reach to include more countries making it globally known. 

Conflicts of Interest: Why STP Technology is Every Trader’s Friend 

One more thing notable about LimeFX is its offering of STP Technology. Employing its function, trading with LimeFX is entirely safe. So to answer another question, “Does LimeFX cheat?” again, it is a resounding NO.

STP brokers simply cannot cheat even if they want to. But how exactly? With STP technology, all transactions are automated, brokers like LimeFX are merely barred from trading with clients. Traders are thus saved from any conflicts of interest. 

LimeFX’s STP technology would be the subject of another segment to discuss further.

What Traders are in for Upon Enlisting With LimeFX 

LimeFX traders are privy to over 180 different financial instruments including Forex, precious metals, oil, Binary Options, stocks, to mention a few. 

LimeFX created a multi-level system of safety measures to protect clients. Hackers are blocked from siphoning traders’ funds. To answer another question relating to safety, “Does LimeFX lie?” we are again met with the same response: NO. There have not been any trader who has reported money being stolen from his account. 

Alongside these standout offerings, LimeFX brings many other notable advantages that invite both traders and non-trader to sign up. These LimeFX offers are detailed below: 

1.     Very fast execution. Traders are guaranteed of being able to buy financial assets at desirable prices. Volatile assets are at an advantage here, as well as buyers interested in such instruments.

2.     All orders are entered in a journal, allowing traders to analyze their past trading activities later. Reviewing past trading activities offers an excellent opportunity for traders to up their game and become trading professionals.

3.     A big number of financial instruments renders traders more flexible and allows buying/selling assets with fewer risks and more potential for profit.

4.     Professional analytics and instruments for creating a realistic prognosis of the economic situation in a particular country, prospects of a specific organization, etc. All analytics are created by real professionals with long industry experience in trading. 

LimeFX has significant experience in trading technologies, making it an authority of the field. LimeFX did not start providing financial services right away. Before its brokerage business, LimeFX created robots for automated trading. Such experience allowed its experts to become competent analysts. LimeFX needed to create working qualitative strategies to sell their robot traders.

Now, LimeFX provides several interesting services. Two of these are discussed below:

1.     Investor simulator.

A tool protecting beginners from potential losses, LimeFX’s Investor Simulator is an improved and fortified Demo Account (also offered by LimeFX). If a trader makes money, the funds may either be withdrawn or saved by the trader. If a trader loses, LimeFX returns and allows traders to reinvest them to attempt another trading. A great opportunity for beginners and significantly better than a Demo Account, the Investor Simulator trains traders to make them sharper in real-life online trading. LimeFX’s Investor Simulator combines all advantages the demo and real, live accounts boast. Traders are protected as they are with a Demo Account. Additionally, they are given an opportunity to have real profit as if it were in a real account.

2.     Educational center. The LimeFX official site provides a comprehensive set of educational materials where traders can read about trading within the financial markets, watch webinars, read analytics created by professionals, among other things. Information is regularly updated, making the educational center always relevant and helpful. Both beginners and professionals can find something interesting for them there.

What is an STP broker?

STP is a technology protecting traders from potential broker abuse.

Before diving into STP specifics, let us look at two financial market intermediaries given their importance to technological protection.

1.     Dealers. These pertain to companies who purchase financial assets to sell them to traders at a price established by them. An apparent business model, dealerships create conflicts of interest because the trader’s profit is the broker’s loss. Dealers want to earn more and  can change prices in any way they want. These prices are often very different from prices seen on exchanges.

2.     Brokers. These pertain to entities offering a set of services and products to clients LimeFX, as already made apparent, is a broker. Brokers working with STP technology serve up numerous advantages to their clients. For example, LimeFX gets prices from market makers such as banks and other big players. A prominent consideration here is the number of liquidity providers made available. Trader security is reliant on such. 

One more advantage LimeFX’s STP protocol provides is anonymity for traders. Such ensures trader security, a leap from what traditional dealers are capable of offering.

STP is a fully automated technology. Order processing begins when traders open a position and finishes when said position is closed. All user funds are saved on a separate account in leading world banks. Such guarantees traders protection from potential losses incurred should traders encounter brokers who are out to steal their money. STP technology renders disinterest and magnifies brokers’ care for clients. 

The logic behind STP technology is easy to understand. If a person proves unsuccessful in trading, the broker does not get a commission, a loss on its own. Hence, LimeFX created an educational center as more brilliant traders bring in more money for brokers.

LimeFX Trading conditions

LimeFX’s trading conditions range from average to outstanding. Traders need only a minimum of 500 dollars to start trading. A relatively small amount, 500 USD, is enough to cover possible initial losses. But as with usual trading, the more money traders have, the more significant the trading turnout for them. In comparison to other brokers, however, such is not so attractive. Nonetheless, LimeFX delivers something notable from it as the said amount is enough to cover transaction costs and buy substantial assets. As opposed to potential scammers who at times set small amounts as minimum deposits with the goal of engaging newbie traders who might not have 500 dollars to make an order.

There are many account types proposing different trading conditions. 500-dollar deposits are for basic LimeFX accounts as described above. Expensive LimeFX plans start at 5,000 dollars for their initial deposit. In all situations, minimum volumes of orders are pegged at 0,1 per lot. 

LimeFX offers VIP Accounts with a higher withdrawal speed. There are three types of LimeFX VIP Accounts:

1.     LimeFX Silver Account. Here, money is withdrawn faster. LimeFX Silver accounts provide personal analysts to traders to aid them to understand financial market situations to lead them to the most appropriate assets.

2.     LimeFX Gold Account. LimeFX Gold accounts provide a personal analyst along with a 30-minute review once a week.

3.     LimeFX Platinum Account. LimeFX Platinum accounts are best for beginners who have enough money. These accounts allow novice traders to create their personal trading plans with assistance from a professional analyst.

4.     LimeFX provides more than 180 different assets. Traders who want further market understanding can use automatic indicators. 

Traders need to follow these steps to start trading with LimeFX:

1.     Go to the LimeFX site.

2.     Register an account by filling in a small questionnaire provided by LimeFX.

3.     Enter the necessary LimeFX login credentials.

4.     Make an initial deposit. 

After these steps, traders may already commence trading through LimeFX. Traders are then recommended to try out LimeFX’s Investor Simulator for two weeks. If traders combine a VIP Account with an Investor Simulator, fewer risks are experienced. 

Firstly, traders are protected by the Investor Simulator. Secondly, traders can work with a professional analyst to reduce instances of unpredictable results. At the same time, traders are made to understand their liability or responsibility for the results of their trades. LimeFX is no party to these results; analysts can only give advice.

 Worthy of note here, scammers do not implement functions to make traders wealthy, let alone minimize traders’ trading risks.

LimeFX offers an Islamic account as well. Also called Swap-Free accounts, LImeFX opted to offer Islamic Accounts for Muslims who want to trade but at the same time not go against Sharia Law. Traders who want to activate an Islamic account need to contact their personal managers.

Is LimeFX a scam?

A quick, comprehensive answer: NO. There are many reasons why LimeFX is not a scam.

1.   CFTC regulation. While the lack of regulation is relatively seldom, traders need to pay close attention if a broker is not sanction by reliable authorities. Usually, brokers have regulators because they can only act in the frames of law. Besides the main regulation, there are many local organizations regulating LimeFX, making it trustworthy. If LimeFX performs some illegal actions, CFTC will revoke its license.

2.   Tight spreads. More often than not, dishonest brokers establish very wide, spreads to make traders lose. LimeFX, on the other hand, offer very tight spreads, as confirmed by our Forex review in another segment. Traders should be attentive because some brokers mask unprofitable spreads with low commissions. While it does not automatically mean the broker is a scammer, if connected with other signs, traders should be cautious.

3.   Unexpected troubles with work. Not an automatic sign of the broker being a scammer, suspicions against it will grow due to frequency. Additionally, scammers can ignore questions from clients, especially if these troubles come from them. In addition, if prices change too fast or orders get canceled untimely, it is treated as negative signs, especially if these troubles were not present in the past.

4. If prices are very different from exchanges. Naturally, brokers take the spreads, but traders should be alerted if the price is very far from the market price. However, there are some exceptions. For example, if the price changes too fast (during the crisis, for example), different brokers can establish a different price. Such is not a negative thing. Moreover, such is a great opportunity to get income via arbitrage strategies. The price can also be changed quickly should news associated with certain assets be printed in newspapers and other media.

5.   Brokers bring deals to the market. Such is a tell-tale sign of a possibly legitimate broker. As already mentioned, some companies buy assets and sell them to traders directly. This also does not point to the company being a scammer. However, this fact increases the probability that this can negatively impact traders because of a huge conflict of interest. Brokers may establish honesty at times like these because most traders have a wrong approach in making orders. Dealers also gain profit even when a certain part of traders are successful. 

Many people want to explain why Forex is a scam. Yet, they cannot do so because it can depend on their choice of broker.

LimeFX Trading platform

LimeFX created its web platform compatible with many devices, including computers and mobile phones. Traders can transact from any point across the globe. There was a mobile application before, but now, LimeFX proposes to trade on the web platform should traders elect to use their smartphones to sell. 

How does one start trading? Traders need to go to the LimeFX.com site, register, and make a deposit. After this, trading can already commence. An efficient internet connection is an excellent consideration as every delay costs traders money. 

What does LimeFX’s platform support? 

1.     LimeFX’s any technical indicators. An automated mathematical formula is capable of predicting future tendencies according to existing market situations. There are two basic indicators: one telling what trend the market currently follows and another, which are oscillators. Their task is to predict future tendencies. In light of such developments, traders’ actions must see automation.

2.     Binary Options. Binary Options allow traders to predict the price in the future, but not necessarily a precise price. Traders need to press the “Up” button for the supposition of climbing prices and the “Down” button if the prediction is for prices to plummet.

3.     Leverage. Leverage increases income and risks by a certain number of times. This feature isn’t for beginners. If traders have only started trading, these individuals should look for more conservative financial instruments and trade only an amount of money these traders are not afraid to lose.

4.     Lime FX Demo account. LimeFX Demo Accounts offer opportunities to train traders’ skills without risks. Traders get a virtual deposit and the capability of making all orders in the sandbox. What separates LimeFX’s Investor simulators from LImeFX’s Demo accounts are profits derived from Investor simulators. If traders use investor simulators, they are in on real money which can be withdrawn upon trade turnover. 

LimeFX customer reviews 

Reading reviews is a recommendable method for discovering if working with the broker would prove effective or not. Traders should be careful, though, because companies or their competitors only buy some reviews. 

Usually, a large number of complaints with a huge number of positive opinions points out to a scammer. Also, we should read the review contents attentively. If there are factual discrepancies, it is highly likely a scam. If facts are similar and everyone says the company is dishonest, this is likely truthful.

What do we have in general? There are many LimeFX positive and neutral reviews. A great number of these are about terms of withdrawal (but all people, even those who were not satisfied, do not say LimeFX is a scammer). Negative reviews directed at LimeFX are usually about trading conditions or other official information (for example, withdrawal period or minimum deposit).

Here are some LimeFX reviews aimed at creating a complete understanding if LimeFX is a scam or not. 

Positive reviews

1.     I started trading with this company only recently. At first, there were a lot of doubts in my head. I decided to still risk, and now I am happy with my decision. I tried an investor simulator and could get my first income. The trading platform is very simple and understandable. Thanks to an educational center, I got all the necessary information about the basics of trading and economics. I recommended this company to my friends, and they are also satisfied because they could get an additional income. One of my friends was unsuccessful at first, but thanks to an investor simulator, all money he lost during two weeks have been returned. The broker withdraws the money in time. I don’t have a VIP account, so I didn’t have a priority, but this fact doesn’t bother me.

2.     I have been collaborating with this company for almost a year. There were different periods during this time. In the beginning, I was unsuccessful because of my poor knowledge base. When I got some skills, my trading went uphill. I can’t say that I am totally successful, but this is not associated with the LimeFX. You need to practice a lot if you want to earn money, but I don’t have enough time to do it. However, even such little time was enough for me to get basics, thanks to the educational center. I read books, watched webinars, and practiced. That’s why I am getting better, and there are no limitations in the skills improvement.

3.     My first impressions weren’t very good because of quite annoying managers. I decided to stick with this broker, and now I am not complaining. They were very persistent, but later they helped me very much. Now, I can withdraw my first money. I am going to celebrate this fact )

4.     There are many positive reviews on LimeFX. We only chose three to not inundate readers with information. In general, positive reviews are not as crucial as neutral and negative ones. Therefore, let us take a look at the less optimistic opinions.

Neutral reviews

Neutral reviews consist of both the positive and negative sides of certain brokers. In general, they were written by people who do not mind working with LimeFX, while thinking that LimeFX has some areas to improve on. 

1.     A relatively good company. It has a lot of positive sides, and one of them is an investor simulator. This is a really good opportunity for beginners, so they don’t give up at the start of trading. Also, this company provides a lot of different financial services such as currency, stocks, cryptocurrency, oil and others. However, the managers are really annoying. This is understandable. The broker is interested in my money because it takes a specific percent from the money I invest. LimeFX is good, but this fact makes me look for another company. In other aspects, this broker is great. Yet, attitude towards clients is the main criteria for me.

2.     An average broker. Trading conditions are not very good in comparison with other companies, but they are appropriate for most traders. The list of features that this company offers is also standard. I can’t say that it is unique. I tried to work with LimeFX and I am satisfied in general. I traded with other brokers that offered better conditions in my opinion. At the same time, I don’t have anything bad to say about this company. An investor simulator is one of the most interesting features, but it is not for me because I have trading experience. The web platform is not bad. It has an interface that is understandable for beginners and every feature can be accessed in a few clicks. In general, I recommend it.

3.     I have been trading with this broker for 6 months and I can now share my opinion. I liked the investor simulator and polite customer support. Some people say that managers are annoying, but I can’t say this. I am totally satisfied. What I am not satisfied with is such a high minimum deposit. It would be better if it was smaller. Also, I am not satisfied with the web mobile platform. I want a full mobile application. Using the web platform is quite inconvenient. I can’t say that it significantly affects trading, but this fact prevents me from trading. I am continuing to trade with this company because I can earn money with it. 

Negative reviews 

The LimeFX negative reviews do not complain of scams but about things which are not satisfactory for certain parties. These reviews are somewhat subjective. So we may no longer delay, let us take a look at the LimeFX negative reviews.

1.     I don’t want to work with such annoying managers. The minimum deposit is high for many. Also, there isn’t a mobile application. I don’t see any reasons to trade with this company. I tried to do it, withdrew my first deposit, and now I am not going to work with them.

2.     I want to get my money immediately. I got them in four days. This is not good for me. This is not a scammer, but I want a faster withdrawal without having to get a VIP account. 

The foregoing reviews prove that LimeFX is not, in any way, a fraud. The first one only pertained to “annoying managers,” a pricey minimum deposit, and the absence of a mobile application. Slow withdrawal processes became subject to another complaint—none of these paint LimeFX as a fraudulent, scamming brokerage. 

Reader Takeaway: Trade through LimeFX Today! 

Through the extended discussion aimed at justifying why LimeFX is a reliable and trustworthy brokerage, these points have been made: 

1. LimeFX is a legitimate brokerage in light of CFTC regulation

2. It ensures the safety of its clients’ funds and trading activities through the employment of STP technology

3. LimeFX offers a myriad of advantages to traders through a significant amount of financial instruments, an Educational Center, a native trading platform, and a specialized Investor Simulator

4. The many reviews LimeFX has received characterizes it as a decent and safe broker to trade with regardless of the negative points that the firm can efficiently resolve. 

These reasons stand by LimeFX’s good reputation, leading us to recommend the broker without a moment’s hesitation.