LimeFX Forex Broker
The Foreign Exchange industry is highly beneficial not only for traders but also for financial firms. As Forex carries so many advantages, brokerage firms continue to dominate the web space to capitalize the opportunity it offers. One of the companies that debuted in the market is LimeFX, a trading platform that offers foreign exchange and binary options solutions.
Just like any other brokers in the industry, LimeFX forex broker is also at the receiving end of criticism. For a financial company that holds lesser market traction, it is surprising to see the number of negative LimeFX customer reviews. LimeFX scam, for example, shows up as a persistent tag in multiple online reviews. This and other pressing concerns had prompted the writing of this LimeFX review. More so, it is only necessary to conduct such to help interested parties assess the overall reliability of the platform in terms of security, functionality, and usability.
LimeFX Forex Broker
According to the company’s official website, it is located at 22 Gresham St. London, United Kingdom. Its financial services are carried out by a group of web developers and professional foreign exchange analysts that consistently provide industry-leading technologies. Apart from that, its workforce is also composed of financial experts and specialist with bright and innovative ideas.
LimeFX had exerted efforts by integrating its system with optimum features, allowing its clients to trade ahead of other traders. Through the trading instruments it offers, clients can increase their margin of profitability. More so, the platform stands as its flagship offer since its system meets international standards. While LimeFX is one of those lesser-known brokerage firms, it still offers a decent set of asset classes. It is true that its selection lags behind other brokers since it is not diversified, but clients will still have adequate choices for portfolio expansion.
- Shares- Apple Inc, Adidas, Facebook
- Currency pairs- EUR/USD, USD/JPY, EUR/JPY
- Indexes– Dow Jones, S&P 500
- Commodities- Gas, Oil
LimeFX stands as the ideal choice since its platform is equipped with insights from trading professionals. This appears to be one of its salient points as these greatly contribute to decision making. In addition to this, its automated trading feature provides an all-inclusive and flexible trading structure for both novice and advanced traders.
One would find this broker’s account selection impressive. For a brokerage firm that does not have large clients, it still offers six account types- a selection more generous than other well-known brokers.
- Mini Account
$500 Minimum deposit
- Standard Account
$5000 Minimum deposit
- Silver Account
$7500 Minimum deposit
- Gold Account
$10,000 Minimum deposit
- Platinum Account
$25,000 Minimum deposit
- ECN Account
$50,000 Minimum deposit
LimeFX is not a MetaTrader-powered platform; it has its own proprietary desktop system that only works on web. While other brokers usually use the popular Metatrader for its mobile compatibility, LimeFX only offers its online desktop version- a disadvantage that restricts clients due to absence of its mobile counterpart.
While it does not offer a mobile version, the inadequacy was heavily compensated by the platform’s ultra-friendly interface. The design is visually appealing, giving clients a clean and simple workspace that showcases comprehensive charts. One of the most commendable things about its interface is its highly customizable buttons, providing the efficiency that clients need when managing their trades. However, the system was designed to facilitate binary trading. As it is dedicated for a specific trading structure, traders who comply to other trading framework will have a taxing time using the platform.
As mentioned above, its modifiable interface is a great advantage since clients may conveniently organize trades through the one-interface feature. It also has a separate section that holds the most popular technical indicators such as the Bollinger, Mid Range, Moving Average, and Oscillators. Apart from that, the interface is loaded with premium drawing tools such as Gann Fan and Fibonacci. Orders on the other hand can be requested instantly through a so-called ticket.
LimeFX Customer Reviews
Far from how the company markets itself, LimeFX reviews online exposes fraudulent transactions and inattentive customer support. Account managers are out of reach and inactive, while recurring issues of spamming wherein an agent would call a potential client many times a day is also raised.
“The employees of this company are obsessive scammers. For 2 months they call me several times every day. This is a terrible experience that I have never had in my life. Please stop it!!! Not professional, not even polite. They’re just annoying and disturbing all the time. Every next call will be marked by my very negative comments on social networks and on all possible sites !!!! Just stop it !!! Call from different numbers, so blocking the number does not relieve their obsession.”-Galyna
Binary options trading poses higher level of risks compared to other trading setups. As this category projects intensive volatility, clients are recommended to check the company’s terms and conditions.
While binary options are risky and there are aspects that LimeFX need to improve, the broker still ensures that all trading transactions are legal and regulated. Its operating permit from the Commodity and Futures Trading Commission attests to its reliable and legitimate services. The CFTC ensures that Lime FX implements its vision of promoting open, transparent, competitive, and financially sustainable markets. The regulatory body also secures traders from fraudulence, manipulation, and abuse of derivatives covered by the Commodity Exchange Act.