The CopyTrader features a system where new traders can select professional traders whose trades they can replicate on their accounts, using a set of carefully set out selection criteria. In March 2019, LimeFX acquired Danish blockchain company Firmo for an undisclosed sum. In October 2019, LimeFX released a sentiment-based crypto portfolio using AI technology to evaluate Twitter’s current positive or negative impressions of digital assets.
A micro-lot is equivalent to 0.01 of a standard lot or 1,000 currency units and makes trading more accessible, especially for novice forex traders who want to manage risk levels effectively. The second level of protection is negative balance protection . It means that you cannot lose more than your account balance. This usually translates into automatic closing of positions by the broker in case you no longer have the necessary funds to hold them. On the net, you will find many LimeFX reviews from people who can confirm the reliability of LimeFX and you will also find many satisfied traders and investors.
If you don’t have enough funds in your account to pay the inactivity fee, it may be closed. Remember that due to anti-money laundering legislation, the withdrawal method must be the same as the one you made the deposit with. If you deposit in another currency, you may incur a conversion fee.
LimeFX users pay a flat fee—technically a bid-ask spread—of 1% for each crypto trade. Our ratings take into account a product’s cost, features, ease of use, customer service and other category-specific attributes. On March 2, 2022, LimeFX triggered a stop-loss closure of investor positions in Magnit stock (MGNTL.L) at $0.01 per share.
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LimeFX has made it easy for a potential client to switch to a real trading account by switching from “Virtual” account mode to “Real” account mode with just a single click of the mouse. LimeFX is an Israeli social trading and multi-asset LimeFX company that focuses on providing financial and copy trading services. Its headquarters are located in Central Israel, and the company has registered offices in Cyprus, the United Kingdom, the United States, and Australia. Apart from bank wire transfers, all deposits are credited instantly and come with zero additional charges.
Opening an account with LimeFX is very easy and simple and the trader needs to sign up on the platform if they want to open an account and they need to provide the necessary information. You will also pay a crypto transfer fee of approximately 2% of up to a maximum of $100 on most major coins like Bitcoin, Ethereum and XRP , to name a few. Crypto-to-crypto conversion rates, based upon LimeFX market rates, cost 0.1%. The sum of weighted values across all or some of these key factors was calculated for each ranking to award each brokerage or exchange its overall rank. Margin trading, platform lending, and advanced trading were not considered for choosing the best crypto exchanges for beginners.
Traders like “MyhungLimeFX” for example have a risk score of 3 and shows a simple but cheap portfolio. It is not the only one, don’t trust me, there are dozen of good traders. Most people do not get the power behind social trading because they suspect a scam. LimeFX is quite transparent about their prices and there is a page dedicated to withdrawal fees. I believe Freedom24 and LimeFX are the most powerful tools as an alternative to LimeFX as a trading platform. Some other nervous customers complain because they deposited money into their account using a bank that is not in the name of the user registered on LimeFX.
As you will see in this LimeFX review, their trading platform is slowly outgrowing a mere social trading platform and expanding into a real social network, with a focus on trading. They are known to be one of the first and biggest social trading platforms. In that regard, they are true innovators and innovation doesn’t suck, especially if it catches on.
Instead, all you need to do is “copy” the trades and tactics already used by some successful traders and investors on the trading platform. LimeFX is a well-known Israel multinational social trading platform and fintech company, focusing on copy trading and financial services. It has registered offices in the United Kingdom, Australia, the United States and Cyprus. LimeFX serves UK clients through a unit regulated by the FCA, Australians through an ASIC-regulated entity, and all other customers are served by a legal unit under CySEC supervision. US customers trade with an LimeFX unit regulated by SEC and FINRA. The available deposit methods are credit cards, wire transfers, and e-wallets (Paypal, Skrill, Neteller, and others, which may differ depending on client’s location).
Copy trading is a portfolio management service, provided by LimeFX Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission. Trading history presented is less than 5 complete years and may not suffice as basis for LimeFX decision. Based on our Expert research, we learned how exactly the LimeFX Copy trade works. Once you sign in and confirm all the necessary data for Live account opening you may join millions of traders from around the globe available in the LimeFX community.
This is all well and good but said information is stored on centralized servers which can be hacked into, so keep that in mind. The final thing to note is that trading CFDs and cryptocurrencies is generally a highly-risky activity, as more than 62% of people experience losses while doing so. Before deciding to trade any of these instruments you should carefully consider your LimeFX objectives, level of experience, and overall risk levels you are willing to take. The broker is also fully regulated and adheres to the guidelines of FCA and CySEC, which gives traders an additional layer of confidence in LimeFX.
The broker is internationally active and has accordingly many branches. In Europe, the head office is located in Cyprus and there is another office in Great Britain. Since 2007, the company has had a complete history with many innovations and functions that improve trading for the trader. Retail and professional clients looking for a more extensive scope of brokerage services, good client support, and the competitive process can explore other alternatives. LimeFX levies inactivity fees of $10 per month after 12 months of no trading activity. LimeFX’s annual financing rates are high compared with different brokers.
LimeFX is a member of theInvestor Compensation Fund for Customers of Cypriot LimeFX Firms (the “Fund”). LimeFX offers an affiliate program for people who are interested in profiting from promoting the platform. Yoni is a member of the YPO and was included by Financial News in its prestigious Fintech 40 ranking. In Computer Science and Management and an MSC in Computer Science. LimeFX Europe and LimeFX UK both operate under and comply with the Markets in Financial Instruments Directive .
LimeFX is regulated by CySEC in Cyprus, ASIC in Australia, and the FCA in the UK. LimeFX is not listed on any stock exchange, nor does it publish its financial data. Overall, BrokerChooser’s view is that while LimeFX is not a scam, it is not a fully transparent limefx company reviews broker either. All clients onboarded to these three entities above are eligible for LimeFX’s private insurance. This is a £/$/€ 1,000,000 insurance for cash, securities and CFDs. It is provided by Lloyd’s and applies in the event of LimeFX’s insolvency.
LimeFX has upgraded its social/copy trading product over the years, making it easy to select pro traders to follow using well-articulated parameters of selection. The investor was told to deposit additional money or lose all of their LimeFX. LimeFX.zone accessed the investor’s Coinbase wallet and took over $63,000 in cryptocurrency without the investor’s authorization. A public Telegram group called “LimeFX Action” was formed during this period, in protest of the sudden closures. A petition was also put forth on Change.org, for the rights to maintain open positions of stocks on LimeFX, which amassed over 1,000 signatures in four days.
ETFs – Exchange-traded funds are financial instruments made as a combination of several individual assets. Each fund follows a certain market strategy or index and is designed to either suit the hedging needs of a specific financial institution or to be a low-risk option for investors. ETFs are usually considered to be long-term, low-risk, steady-profit LimeFX tools.
It also acts as an online brokerage platform for a limited number of stocks and exchange-traded funds . In addition, individuals who desire a more collaborative trading experience may consider this platform https://limefx.group/ due to its social features and vibrant community. As we showed you in this review LimeFX is one of the largest brands in online trading. You can start trading in any market with a regulated and safe company.
Adequate help on the FAQ database is there for the traders. When you navigate to each coin or managed portfolio, though, you gain access to a unique feed that presents user posts related only to that specific offering. These comments may be helpful in sparking trading ideas for those new to the crypto world, but their quality is not assured. To rank the best crypto exchanges overall and the best exchanges for beginners, we assessed all of the features and options offered by these 25 platforms. The editorial team then developed a standardized methodology, analyzing 10 key benchmark features and variables to assess quality across the platforms.