Is LimeFX a Scam? The Detailed Review of This Company

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A lot of people looking for a broker wonder “Is LimeFX scam or not?”. There are so many Forex brokers that people really can be confused. We know that trading is associated with huge risks, which can depend on the financial market, political situation, etc. One of these factors is a reliability of a certain broker. Reliable brokers help us to earn money, but if we come across a scammer, we lose our money with the almost 100% probability.

We would like to say right away that LimeFX isn’t a scammer because of many factors. This company is regulated by CFTC, has attractive trading conditions, and provides a lot of additional services. One of them is an educational center where people from all points of the world can learn this profession.

Today, we are going to describe this company in more detail and prove why it isn’t a scam. What is the LimeFX site? It is https://limefx.com.

LimeFX Review

LimeFX Forex broker was created by a group of enthusiasts who previously had developed automated trading systems (also known as trading robots). This company provides a lot of different financial services around the world including trading cryptocurrency, classic currency, stocks, oil. Also, this broker offers to trade binary options, which are a great method to get a profit fast (but also very risky, so beginners are not supposed to use this financial instrument).

The date of LimeFX creation is the year of 2008. In the beginning, only several countries were supported by this company, but now this list is growing. The number of financial instruments also grows. Traders can buy and sell more than 180 different assets with different levels of risk. That’s why they can create their own investment portfolio. If they want to earn more, traders can choose binary options and cryptocurrency. If clients want to protect their equity, stocks are a better option.

LimeFX is an STP broker. It means that we can’t call LimeFX fraud. This company doesn’t buy and sell any instruments. It can only connect traders around the world to help them find each other and earn money. STP brokers are the type of intermediaries that work via a special automated platform that helps traders to find an order at the best market price.

There are a lot of positive sides to this company:

  1. Short time of order execution. This is a very important factor because while the order is processing, the price of a certain asset is changing. If order executes too slow, the trader can buy the financial instrument at the worse price and lose a lot of money. This factor is especially important when traders buy very volatile financial instruments. 
  2. Order history. You can read all your orders in a special journal and analyze your mistakes. This is a very important action. Unfortunately, many traders ignore it, but only analysis of past actions can bring success to you. This fact is an additional confirmation that we can’t say LimeFX cheat.
  3. Large number of financial instruments. You can become more flexible thanks to this advantage. You can create very smart strategies and correct your actions if you need to do it. 
  4. Possibility to study with the help of a professional analyst, who knows better what the market situation is at a certain time. There are a lot of factors that affect the assets and the professional analyst can consider them besides the technical analysis, which can predict the prospects of a certain asset on the basis of the history of quotations.

This company is a confirmed expert in trading. Such a long term of work says about a high level of trust in LimeFX. Scammers don’t exist for so long. They often start bright and die in three or four months. The maximum length of dishonest project life is several years. It is unprofitable for them to work longer because there is a higher risk of being caught. It is much more effective to close the unscrupulous company and create a new one, just as bright. 

Services of LimeFX

LimeFX provides a lot of interesting services. One of them is an investor simulator. If you want to study trading and earn real money but you are afraid, you can master your skills without any risks. 

This feature allows you to train for two weeks, after which you can get your profit as a bonus. If it turns out that the trader has losses, they are automatically compensated by the broker.

The second function, similar to this one, is a demo account. This is another opportunity to practice your skills. A person receives a certain amount to his virtual account. Then, he can master his skills and trading strategies without risking their own money. 

Another useful feature is the Learning Center where a trader can read thematic books, watch webinars, get acquainted with professional analytics created by the company’s experts. All this has helped tens of thousands of people to embark on their trade routes.

Account types

The company provides several types of accounts for traders with a different capital. So, the simplest is available with a minimum deposit of $500. This is quite a lot, considering that some other companies allow you to trade even with ten dollars in your account. On the other hand, $10 will not work out very much because even one losing trade can destroy the entire deposit. Actually, losses are a normal part of trading in financial markets.

If you want to be more professional, you can use the VIP-accounts. The general advantage of them is in shorter terms of withdrawal. Also, you get the help of a professional analyst on several levels.

If you have a silver account, you get money faster and the professional analyst will work with you.

The second level is a gold account. If you use it, you will have a full market review, which takes half an hour. 

The third level is a platinum account. With it, you will get your personal trading strategy that is based on your personal wishes. If you want to be more aggressive, you will use the scalping strategies. If you want to save money, you will use the positional trading. 

How can you become a trader? You only need to do these simple steps:

  1. Go to the LimeFX.com site.
  2. Create an account. The website will propose you a simple questionnaire to answer.
  3. Enter the LimeFX login.
  4. Invest your first money.

These steps are enough to trade. We recommend you to try investor simulator after registration, especially if you are a beginner. You should use the VIP account with the investor simulator simultaneously because you can combine two advantages this way. You not only can get money without risks and return them if you lose, but you also increase the probability of a good result because you will have support from the professional analyst. 

Nonetheless, your skills is the most important tool. You should not trust professional analysts without your thinking because final trading decisions are yours. A lot of unprofessional traders say that the specific broker is a scammer because their analysts have given bad advice. You are the one who is responsible for the actions you take, and the analyst is just your assistant. 

Is LimeFX fraud?

Naturally, no. Now, we are going to prove this statement. There are a lot of reasons why we can’t say that LimeFX lies:

  1. Regulation. This is one of the most important criteria of broker reliability. LimeFX is regulated by CFTC. This is the USA government organization that controls the financial market to prevent dishonest actions from any subjects of the financial market. Almost all brokers are limited by the law of the countries where they do their activity. That’s why all the evidence why Forex is a scam are untruthful at the root. If the broker does some actions which can be recognized as illegal, the regulator takes away the license. 
  2. Tight spreads. If the broker is dishonest, it makes very wide spreads because it can manage them manually if it wants to lie. Usually, if the broker brings deals to the market, spreads are tight. Of course, spreads can widen or narrow depending on the market situation. Therefore, this fact does not always mean that the broker is a fraud, but if this sign is combined with others, this is sad news.
  3. Unexpected operational problems. Very often, this fact is a signal that the company will soon stop paying out the profits. When the provision of new traders becomes very expensive, it is difficult to attract them, and the number of earners becomes very large, the broker begins to be more irresponsible in relation to the work of its website. After some time, it will also be irresponsible about the money of the trader. Also, alarming signals can be inadequate quotes that do not change in accordance with the market, a sharp and unexplainable increase in the payment period. Attention! It is normal if it takes a long time to pay. An alarm should be raised only when before they were carried out in 4-5 days, and suddenly they began to take a week or more.
  4. Large difference between price established by the broker and the market (for example, stock exchanges). Although, it can be possible when a price changes very fast. Usually, it occurs when some unpredictable factors occur. For example, news about the success of a certain company can make quotes extremely higher or news about stupid actions made by the Central Bank of some countries can reduce the quotes far more than usual. 
  5. LimeFX deals the orders to the market. We can know it because STP technology proves this fact. This technology process the orders totally automatically. That’s why we can trust this company is reliable. The STP technology excludes any conflicts of interest and abuses by the broker.

Trading platform

All orders are executed via the broker’s own platform. This company developed it for mobile devices and desktops. You can trade wherever you want. The web interface gives you greater freedom because you can buy and sell financial instruments via any device. It makes trading the best method as an additional income. The broker needs to have very little time to control your orders. That’s why the main work will be carried out without any troubles.

Previously, there was a mobile application for trading. It was more convenient, but Google and Apple app markets have deleted all apps of this type. Yet, all the advantages that were in the mobile application were saved. These are such pros:

  1. A lot of financial instruments.
  2. All analytical instruments, such as trading indicators. For example, RSI can detect a future quotes correction. 
  3. Binary options. This is a very fast but very risky method of getting the money. Actually, this is a type of bet where you should predict the price movement direction of a specific financial asset. If your prediction is true, you will get up to 80% of income. If it is false, you will lose all money you invested. 
  4. Leverage. This is another method to increase your income, at the same time increasing your risks. It works this way. For example, you take the 1:100 leverage. In this situation. you need to pay only one part of the investment, while the remaining 99 percent is paid by the broker. Therefore, you pay only the amount of money you are able to invest, but you can earn according to the amount invested in total by you and the broker. However, if your losses are close to your deposit, you lose money. 

There are more features that are supported by the platform created by this company. 

Myths about trading

Trading is a very interesting process and a lot of people think that it is associated only with negative aspects. The reason for these thoughts is the many myths about trading. Let’s describe some of them:

  1. Trading can be compared with gambling and your chances are similar. No. When you gamble, you hope for luck. Trading and luck are opposite terms because you need to use your brain, think, analyze, and think one more time. Gambling is about emotions, which are the worst enemy of effective trading. Ideally, you need to work according to your personal trading strategy and not make any orders which differ from actions foreseen in the trade plan. You should create a strategy that you can use in a trading robot. If your orders are wrong, you should analyze your mistakes. 
  2. If you are a trader, you will definitely be successful and rich. This is an opposite statement which is as destructive as previous. Your result depends on you, but only to some extent. Unfortunately, there are some factors that you cannot affect. These are political situations, economical decisions, decisions that are made in the company and many others. Even professional traders can make mistakes. This is normal. Great solutions come with experience.
  3. Trading is the kind of scam. Why is this not true? It is not true because there are a lot of traders around the world. For example, the most famous is Warren Buffett. There are far more successful traders and a lot of unknown professionals in the banks, broker and investment companies that make orders and get the profit from the deals with the financial assets.

We see that trading is a really great method to earn money. You can be confident that you certainly will be successful, but your skills will increase your income significantly more than you think. You can do it.

LimeFX customer reviews

This is a very good method to get the full picture of the broker. There are three types of reviews. Usually, positive reviews are written by satisfied clients but can be bought by the company. That’s why they are not as reliable as we often think.

Neutral reviews are more objective. They describe the positive and negative sides of the company. A lot of neutral reviews tell about the popularity of the company and help to understand its advantages and disadvantages.

Negative reviews are written by unsatisfied clients. They are written significantly more often than positive because negative emotions are expressed much more often.

Let’s describe some positive, neutral and negative reviews.

Positive reviews

  1. This company is great. I tried their investor simulator and this feature is fantastic. I lost all my money, but the broker returned them to me. I am a Muslim and I wanted to trade according to my religion. This broker has given me this opportunity. I wrote to my personal manager and he activated an Islamic account. Now, I don’t break the Sharia law.
  2. I have been cooperating with this company for two years. Since then, I have not had a single complaint against it. Trading conditions completely satisfy me. Although I am more professional than a beginner, I regularly read materials that are published in the educational center. I really liked the investor simulator feature. Thanks to it, I managed to get some of my money back. After I invested them in the market again, I managed to significantly increase my capital.
  3. To be honest, at first, I was wary of this company. I was actively looking for where to invest, but many friends warned me against the Forex market. They said that this is a complete fraud, and it is unrealistic to earn something there. Now, I am quite a wealthy person. I have been working with this broker for 3 years now, and there are no complaints.

Neutral reviews

  1. What can I say? In general, working with this broker is fine. I’m a little annoyed that this company does not withdraw money immediately, but after a while. However, there is nothing to be done about it because they check applications for compliance with the rules of use. A nice feature is the investor simulator. It will be especially useful for beginners. I don’t like the high level of the minimum deposit. At the beginning of my career, it was hard for me to invest $500 at once. Therefore, I was able to start my trading path only a year later, when my income increased slightly. In general, everything is good, although I cannot give a perfect score for the reasons stated above.
  2. Well, the withdrawal of funds takes forever. They just piss me off with this. The minimum deposit is large. In all other aspects, the broker is friendly to traders, helping and guiding newbies. Ah, one more unpleasant moment. Managers are a bit pushy, but I will invest exactly as much as I need. 
  3. I’ll talk a little about my experience with this company. One of the good things is an opportunity to practice in several ways, starting with the classic demo account and ending with the investor simulator. Also, my personal expert, whom I received with the VIP account, is really a professional. He explained to me in detail what factors are affecting the market at the moment. In my free time, I do not miss an opportunity to learn something new through the educational center. The money comes steadily in 4-5 days, but I would like it faster. Therefore, I can’t say that this broker is perfect.

There are a lot of neutral reviews that this broker has. However, we have to read negative reviews? What’s there?

Negative Forex reviews

  1. Annoying managers drive me crazy. That’s why I don’t want to work with them anymore. I got my first money I earned in 4 days and I don’t want to work with them. One thing is the best. This is an investor simulator. This feature is great and thanks to it I could withdraw some money.
  2. I don’t want to cooperate with the company that has such a large minimal deposit. I don’t know it. Why do I have to invest 500 dollars? 

As we see, negative reviews are from people who are not satisfied due to the reasons that are not associated with the scam. Both of them dislike the trading conditions and one of them has not even worked with this company, and he can’t say that this is a scammer or not.

There weren’t any negative reviews about this company that are associated with dishonest actions. In general, there aren’t any more negative reviews.

As we see, this company isn’t a scammer. Go to LimeFX official site and find out yourself.