Although LimeFx has fractional investing, dividends paid out on the platform are not automatically reinvested in your portfolio. LimeFx credits a payment to your cash balance if you hold a position in a stock or ETF that pays dividends. LimeFx announced expanded offerings limefx broker reviews in the U.S. in January 2022, launching support for stock and ETF trading. For a limited time, you can earn a bonus of $10 when you deposit at least $100 in your LimeFx account. I use LimeFx for buying stocks only and do not go near bitcoin or any other product offered.
- The data collection efforts at StockBrokers.com are unmatched in the industry.
- The app and website experience provide similar functions and features, so users can seamlessly transition to trade through their preferred version.
- Let’s take a look at the world’s leading social trading broker, LimeFx.
- Check out our separate, detailed review of the LimeFx mobile app.
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He has trading experience in a wide range of asset classes, including stocks, ETFs, bonds, commodities, forex and derivatives markets. LimeFx is a highly regulated broker that is overseen by several top-tier authorities, such as the FCA in the UK, Cysec in Cyprus and ASIC in Australia. Multiple regulation adds a high level of security to LimeFx. Clients trading with LimeFx’s FCA and CySec-regulated entities are entitled to investor protection. In addition, LimeFx provides private insurance to its customers accepted under these three regulators. Client’s cash funds deposited into their LimeFx account are held in regulated and licensed US banks and are FDIC-insured up to $250,000.
Opening an account only takes a few minutes on your phone. The LimeFx mobile app is also available for various devices and it lets you trade regardless of where you happen to be. The eTrader trading app offers some really cool options to make your life easier. For example, you can set the app in such a way as to prevent your phone from hibernating while there are active open trades. It is not uncommon that you have to make a quick decision and with your phone going to “sleep,” you could easily miss the window of opportunity.
Memberships – is LimeFx FCA regulated UK?
Banking in the U.S. with LimeFx is limited to the broker’s LimeFx Money crypto wallet, which is available in some states. This allows users to transfer crypto from the LimeFx platform, send and receive crypto from or to other wallets and convert from one cryptocurrency to another. While basic cash management is also offered in a handful of countries, including the U.K., it’s not yet available in the U.S. The tightest spread for the EUR/USD that I uncovered in this review was 0.9 pips or $9.00 per 1.0 standard lot.
Eventually, it may be quite risky at the point you set leverage wrongly or too high depending on the strategy you deploy, so you may lose money when trading CFDs with this provider. Besides LimeFx has an entity in the US available for US residents only, which offers CryptoExchange and trading services. LimeFx USA LLC is a registered Money Services Business with the Financial Crimes Enforcement Network and holds Money Transmitter Licenses in the States where applicable. Yes, LimeFx is safe and not a scam, due to heavy regulation and licenses from CySEC, ASIC, and FCA with high trust. Thus, it is secure and low-risk to trade Forex or social trading with LimeFx.
Customer Service
LimeFx’s live and recorded webinars hosted by its trading experts are a great way to accumulate valuable trading tips. Their financial trading eCourse and trading videos are also freely available to anyone interested in taking on the markets. LimeFx even facilitates text translation on its platform when traders of different nationalities need to communicate. For example, a risk score of 6 means that a trader risks on average between 3.9% and 5.4% of his account’s equity per day.
The platform is considered safe and is regulated by the Cyprus Securities and Exchange Commission CySEC, and complies with the European Securities and Markets Authority . Naturally, I can’t cover each and every aspect of LimeFx in this https://limefx.group/ article but I trust this information gives you a good idea of the features you can enjoy with this phenomenal broker. I don’t think it was an average customer call for her, but she was really patient, professional, and helpful.
The broker offers competitive costs and good education materials and research suitable for traders of different levels. We found that the money management and funding methods at LimeFx are quick and simple, which is very pleasant and important for your account management convenience. LimeFx withdrawal options offer popular bank transfers, credit cards, and some electronic wallets. Based on our Expert findings, LimeFx is considered a good broker with safe and very favorable trading conditions.
There are no account management fees at LimeFx and zero commissions. Fees are built into the spreads and those spreads are quite minimal also. LimeFx does charge overnight fees and commission is charged when shorting stock or ETF CFDs.
For instance, very often we can’t close nor open trades during the market opening session, which they claim is a limitation of the liquidity provider. You may need to keep evidence of your deposits, because the money often fail to be reflected in your balance immediately, for days. They will ask you to show them evidence of your deposit before checking it out themselves. As part of our annual review process, all brokers had the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy.
Few weeks ago, for reasons out of my control, one of the transfers I sent was returned to my bank. I asked LimeFx about what should be done, and right after that they limited my account. They said I should proceed with the transfer once again, but the support manager probably was in a huge confusion as my account was still limited for both … deposits and withdrawals. Popular Social trading Broker LimeFx adding Stocks to be available for trading via LimeFx US entity. Traders can now diversify portfolio with LimeFxs in US stocks, ETFs, and Crypto via LimeFx Trading platform. While previously US entity only offered trading of Cryptocurrency acting as a CryptoExchange.
Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative. Carolyn Kimball is managing editor for Reink Media and the lead editor for the StockBrokers.com Annual Review.
Markets and products
Our Ranked LimeFx Trust Score is 9.5 out of 10 for good reputation and service over the years, also reliable top-tier licenses, and serving regulated entities in each region it operates. The only point is that regulatory standards and protection vary based on the entity. LimeFx holds FCA, ASIC, CySEC regulatory licenses, and also registered with FINRA, SEC, and SIPC as a money service business (not a full broker-dealer). For the StockBrokers.com 13th Annual Review published in January 2023, a total of 3,332 data points were collected over three months and used to score 17 top brokers. This makes StockBrokers.com home to the largest independent database on the web covering the online broker industry. Stock research is limited to basic financial information, analyst consensus widgets, environmental, social and governance ratings and news feeds.
We mark it as good being one of the best proposals we saw in the industry, suitable for professional trading. Also, all are provided with good research and excellent tools. LimeFx Spreads are ranked low with an overall rating of 8.5 out of 10 based on our testing comparison to other brokers. We found Forex spread much lower than the industry average, and spreads for other instruments are very attractive too. Since its launch, LimeFx has gone on a path of innovation, creation, and introduction of features that moved LimeFx technology and online trading to a new level. With that said, my experience has been overall good with them, but I can only speak about forex and their copy trading system.
News feed
When investigating popular investors’ profiles, you will find all the other important information you need to wisely select the best traders. You can also use LimeFx’s related offering Smart Portfolios to replicate the performance of crypto-focused portfolios managed by LimeFx. This effectively turns LimeFx into a kind of hands-off, no-fee robo-advisor for cryptocurrencies. CopyTrader and Popular Investor are flip sides of the same coin. When users enroll in CopyTrader, they can duplicate the crypto trading strategies of leading traders, termed Popular Investors.
Instant payments like Credit Card, e-wallets and others will appear immediately on your LimeFx account. These are regulatory obligations from LimeFx as a regulated financial institution. During this time our teams will be going over the details and documents that have been submitted to make sure we verify your account according to the latest regulatory requirements. Special thanks to my account manager Samuel Crain and to Stefanos Ioannou from Corporate Customer Service. I had a worry about where the funds I withdrew from my account were going. Nevertheless, Dominic was quickly in touch to ensure all was ok.
You can contact LimeFx’s customer service via a web-based ticketing system. We got answers usually within 48 hourswhen we tested it with some basic questions. On the other hand, we received feedback from users that LimeFx often takes as much as 14 days to respond in more complex cases, which we think is extremely poor service.
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 is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. However, you can also trade real stocks, ETFsand variouscryptos.