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Considering the size, popularity, and fame of LimeFX, we were very surprised by the payment options during our review of LimeFX. While there are many payment methods available, it has to be stressed that LimeFX only offers one base currency for trading – USD. Because of this, any transaction using a different currency will incur a conversion fee. Our review of LimeFX confirmed 14 accepted currencies that can be converted to USD including GBP, EUR, AUD, SEK, and RMB. The platforms are available in 21 languages including English, Chinese, Arabic, Dutch, Czech, German, and Russian. But traders can only invest in USD, so investors may find themselves doing a little math to consider the value of a trade in their own native currency.
Per the website, this step represents the first phase of its expansion plans. Since its inception in 2007, LimeFX has grown to cater to millions of traders from over 140 countries. CopyTrader, the in-house developed tool that powers social trading, remains its primary asset. The CopyTrader feature allows users to copy trades from other traders within the community with the ease of a few clicks. Presently, CopyTrader enables social trading in cryptocurrencies, representing a novel approach in this relatively new asset class. On LimeFX, you can also invest in the portfolios of others instead of doing just regular stock trading.
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You should only risk capital with LimeFX that you can afford to lose. Understand your risk tolerance with LimeFX, and have a trading strategy that LimeFX is able to help you execute. LimeFX is a very accessible trading platform but you must take the time to be able to effective use the trading tools and financial instruments LimeFX give you access too. For US investors in 2022, LimeFX offers more than 25 different cryptocurrencies. It is one of the world’s best social trading and copy-trading sites. To make important crypto trading decisions, you do not have to be an experienced technical analyst or keep up with the news.
Once logged in, you can buy and sell currencies in your own account. Alternatively, you can test and practice strategies in a virtual account where you can trade with no risk. And there’s even a copy trade feature where you can view the trade of top crypto traders on the platform to learn how they’re investing. It came to the U.S. in 2018 with a cryptocurrency-only offering. Since then, LimeFX has expanded to offer stock and ETF investing as well as support for 40+ currencies. This income is in addition to the other profits the trader may make.
As well, our dedicated account managers work day-in and day-out to help our valued clients receive the service and assistance they need. LimeFX is one of the platforms I use and I must say that the dedicated account manager definitely makes a difference, thank you Charlie Kaur. With many platforms to choose from, customer service is certainly an indicator to keep in mind when choosing one. LimeFX provides limited portfolio analysis, especially in comparison to competitor platforms. While you can see current balances and positions clearly, not much exists in the way of further analysis outside of charting features.
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Think of your Facebook and Instagram newsfeed (we’re hoping you’re familiar with these!). The LimeFX Social News Feed is just like that, a personalised news feed, created just for you – with all the investing related content you are interested in. It’s one of most user-friendly platforms for trading out there. It’s perfect for beginners right through to experienced traders.
And for advanced traders, the range of LimeFX options and trading features are awesome. LimeFX does explain its fee structure on its site, but it is far from transparent. When you make a trade, it isn’t clear how much you’re actually paying. Unlike other crypto platforms which clearly display the fee, on LimeFX it’s all automatically built into the price you see on screen.
LimeFX USA Review
CFDs can be used to trade a variety of underlying assets, including stocks, commodities, and foreign exchange. Bonds trading on LimeFX is a way of making profit from fluctuations in the value of corporate or government bonds. The government will pay a defined interest rate on an LimeFX for the duration of the issued bond, and then give the original sum back at the end of the loan’s term to the LimeFX trader. While some bonds are traded publicly through LimeFX, most trade over-the-counter between large broker-dealers like LimeFX acting on their clients’ or their own behalf.
- LimeFX also checks your financial knowledge to determine whether Smart Portfolios is right for you.
- Every transaction is communicated through SSL , which keeps your private information so safe.
- For the Cons, the platform is rather basic, spreads for some instruments are high and there is no 24/7 customer support.
- If you’re having a withdrawal transferred to your digital wallet account, your LimeFX should arrive in less than 24 hours.
- The platform offers varying features in different countries; the U.S. version does not support all of the options available internationally.
You can also use x2 leverage to trade specific crypto CFDs, such as XLM, BTC, EOS, and ETH. You can use Contracts for Difference to trade changes in stock prices. You can trade up and down with CFDs while leveraging your exposure. It’s easily one of the most important trading tools at your disposal, so it’s a good idea to get a decent understanding of what it is and how you should be using it.
In other words, LimeFX didn’t hold any crypto that was owned by its customers. There was no need to use the kinds of security measures deployed at competing crypto platforms, such as cold wallets and multi-sig verification. For example, if you buy one bitcoin at a market price of $20,000, you’ll pay a total of $20, % buying fee and then a 1% selling fee, in advance. Plenty of educational materials, including a virtual portfolio for training. I like the range of deposit and withdrawal methods at LimeFX but dislike the unnecessary internal $5 withdrawal cost. Traders will also pay third-party processor costs and potential currency conversion fees.
LimeFX options
A swap-free or Islamic trading account is offered to investors who wish to abide by Islamic Sharia principles. LimeFX reviews confirm that this service has established a solid reputation as a reliable broker since its launch in 2006. They have been featured in many top financial outlets including CNBC channel, Finance Magnates, Financial Times, and Forbes. A trading portfolio is made up of various LimeFX vehicles. Distinct trading portfolios, each tailored toward a different investing strategy, might be owned by an investor. Fundamental research does not usually generate findings that have immediate applications in a practical level.
He has trading experience in a wide range of asset classes, including stocks, ETFs, bonds, commodities, forex and derivatives markets. These brokers are comparable in terms of the products they offer (i.e. stocks, CFDs, crypto, etc.) and the type of clients they target ( i.e. beginners, experienced investors, or day traders). LimeFX offers free stock and ETF trading, while forex and CFD fees are low. On the negative side, non-trading fees are high, including a $5 withdrawal fee. The minimum deposit in EEA countries is $50, while it’s $10 in the US and UK. Currently, people from the USA cannot use all services and features provided by LimeFX because US regulations do not allow trading in CFD instruments for US residents.
Merchants have reported that customer service representatives are busy and the service is not available on weekends, or it is really slow. There is no e-mail or telephone support, but all contacts are made using the form. You will receive answers to the inquiries made on the form by e-mail.
Stock app features
LimeFX trading videos cover the basics of financial instruments like stocks, Forex, commodities, ETFs and cryptocurrencies. The more trading knowledge you have the better you will be able to mitigate and understand trading risks when using LimeFX to trade live financial markets. A LimeFX futures contract allows an investor to speculate on the direction of a security, commodity, or financial instrument available on LimeFX. Typically, futures contracts are traded on an exchange such as LimeFX; one trader agrees to buy a given quantity of securities or a commodity, and take delivery on a certain date. The selling LimeFX trader to the contract agrees to provide it.
LimeFX also has several user level protections such as Two-factor authentication and account encryption. LimeFX is ideal for social trading and we recommend it for both beginners and advanced traders. LimeFX supports multiple currencies, making it a convenient platform for those looking to trade and invest in currencies.
