The account will remain open for 30 days to allow for the management of closure of all positions. The account will be limited immediately, no new deposits or opening of new trades will be allowed, only the management and closure of open positions allowed. On August 22nd, any open positions will be closed on your behalf at market rates at that time, all remaining funds refunded and the account will be closed. We request that no further accounts will be opened with the LimeFX group. Ive decided to publish an open letter to LimeFX, post it and multiply all over world wide web, asking you to formally answer my questions and explain discrepancies, incosistances claims of misrepresentation and neglegance, found by me and fellow traders.
This rewards users based upon the number of copiers they have in the type of regular monthly commission. The program also incentivises responsible trading, and we’ll discuss this in more depth towards the end of the guide. Trading history presented is less than 5 total years and might not be enough as basis for financial LimeFX choice. If you know your biblical readings, you’ll understand why this is the term for the very first block in the block chain. Tezos also does not involve the mining of its tokens, like other digital currencies, but rather a process referred to as ‘baking,’ where stakeholders participate in properly validating transactions.
I also like the fact that you can get a lot of information about an individual’s trading. This adds to its credibility since it gives you an honest, informed decision if you decide to do full research. If you really dig around and take time looking at traders’ data, you will be able to find and copy the best traders with your sort of risk and model your attitude with the type of markets you want to trade with. You could also track your progress very well since it is a user-friendly platform.
Opening an LimeFX Account
This is because it offers a lot more than competing exchanges. In addition to having a low commission, it has several unique features that set it apart from other platforms. For example, it lets traders trade in three major trading currencies, as well as ether , and four major commodities. Traders will also be able to place a limit order, which is similar to a traditional stock trade, allowing them to limit the risks they are taking on a particular trade. The losses during the lifetime of the account were due to the ultimate movement of the market against open positions held until now. In the account 1,700 manual positions were closed in profits of 186,595.11 USD over the course of 3 years showing proficiency with the platform and trading.
However, you can get a $50 bonus for referring your friends to the platform, so this could be a bonus you’re able to benefit from. Forbes Advisor adheres to strict editorial integrity standards. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our partners. There’s no fee to participate—popular Investors are compensated by LimeFX—and once you’ve made your trading portfolio, you can apply to be a Popular Investor yourself.
Illusion of LimeFX being a company withut risk of closure of account and allowing long term LimeFXs and holding of owned, not CFD, assets for years until return from investition. The risk of having account closed was never highlihted or stressed out. Fast forward a month and I did three deposits of $100 and again played with the stocks while I was learning forex. I new the stocks were not real time so I bought and sold just before the batch order cut off and over a few weeks I made a few $160.
Is LimeFX A Scam? Let’s Review This
Did a copy trader for a few weeks, this didn’t work well, even though the copy trader shows as having made profit, I only made a loss. Then most of my initial small deposit went back into my bank account. The next morning, this morning, have found LimeFX have FRAUDULENTLY TAKEN £1000 AND TRIED £2000. In conclusion, whilst LimeFX is not a scam by any means, and even though there are things I like about it, I would be scoring it a two out of five. I would need to be spending more time finding profitable traders for this to work for me. But, if you’re spending so much time trying to find good traders all the time, it kind of defeats the point.
Hence, I decided to withdraw from loss-making platforms and focus on those making me the most money. As much as I like the idea of LimeFX, I’ve never really made much money. This is a major concern because the whole point of this platform is to make money. I have not found good enough traders that are consistent enough to make profits. CopyTrader and Popular Investor are flip sides of the same coin.
Regional manager responsible for diamond members havent even responded to my email. All U.S. locals can sign up for a virtual trading account. However, there are just 43 states (together with Washington D.C. and the Northern Mariana Islands) where you can utilize real money to buy and sell cryptocurrencies. Delaware, Hawaii, Minnesota, New Hampshire, New York, Nevada, and Tennessee clients currently can not trade with LimeFX.
When users enroll in CopyTrader, they can duplicate the crypto trading strategies of leading traders, termed Popular Investors. The LimeFX platform offers trading in more than 30+ cryptocurrencies in the U.S, and nearly 80 internationally. There is enough to cover the basics for many crypto beginners. Still, advanced users looking for a niche coin may find the list limiting. Users can find lower-cost crypto trading elsewhere—check out your options on Forbes Advisor’s listing of the best crypto exchanges.
You will be able to see a very active and supportive community. There are thousands of people here, and this implies great activity and trading going on all the time, giving you the best opportunity to interact with people like yourself. But if you go back to his history, you might see that he also had losses. It’s great that you are able to see the trading history so that you can go back quite a number of years to research LimeFX traders before deciding to copy them thoroughly.
- You should ensure that you understand the risks involved before trading CFDs.
- TradeWise is not authorised or regulated by the Financial Conduct Authority.
- LimeFX’s range of traditional research materials and tools is restricted compared to its peers.
- Since the zoom conference we have taken instruction from our client accordingly and we would like to kindly present the following proposal on behalf of our client with regard to keeping his trading account open.
- Inside the dashboard, you will see personal information on the left-hand side.
For a trader on Bitcoin, for instance, you can find out quite a lot of information about a person, and with one click, you can trade with Bitcoin and assign a certain percentage of your overall portfolio to that trader. For instance, if you have $1,000 in your account and you want to copy five different traders, you can put $200 into each trader’s total pot. Whatever trades they would make would then execute in my account. If you go on to something more popular, you will probably see a lot more chatter going on. You can comment back and forth about a particular market.
What kind of social community does LimeFX Offer?
So, I would not trust people at LimeFX, abusing its Terms and Conditions and unconditionally removing you if you discover any problems. Can you appeal to FCA, FCSA or Obudsman before your positions are liquidated? LimeFX newsletter full of enticing information, start of bull market, yet LimeFX dont hesitate to shut you down despite making gains every week. Does FCA regulated mean your funds can stay on the platform until you decide to sell them . These problems only came to light in August 2020 when LimeFX threatend they will terminate my account and I had my solicitors to read the terms and conditions and explain them to me.
LimeFX offers a crypto exchange that supports trading in 30+ cryptocurrencies, as well as an online brokerage platform with a limited selection of stocks and exchange-traded funds . This platform’s social features and active community make it a good option for people who prefer a more communal trading experience. But if all you want is a reasonably priced crypto exchange, LimeFX’s high trading fees may seem a bit steep. LimeFX have just written that they are planning to terminate my account in 30 days (…) the only chance for me to live normally is to wait for markets to recover and close my positions when convenient and with profit or less loss. LimeFX’s platform offers an extensive range of markets to trade with.
Performance information may have changed since the time of publication. To determine crypto exchange rankings, we assessed the features and options offered by nearly 25 exchanges, trading apps and brokerage platforms that offer crypto trading options. The LimeFX platform offers an active user community and social features like news feeds for specific coins available for trading. Chatting with others and diving into social feeds can provide a great introduction to the crypto world. The fourth advantage is that LimeFX offers a low commission for all of its trading pairs.
So, let’s have a detailed look at what it allows you to do. Thus, this involves acopy tradingelement to the platform. That can be very appealing when you think of the potential to find some of the best traders in the world. That is better than sitting and staring at a screen all day desperately trying to make a profit in the Forex market.
To this end, our client also reserves the right to seek recourse through alternative channels. To this end our client lost £XXX,XXX.XX amount of money as a result of such negligence and the false sense of security created in investing within cryptocurrencies. Again our client reiterates that such claims are completely founded due to his possession of recordings of this conversation which provide him with the means to seek recourse through evidence. 17.6 Adverse financial situation as reason for account termination.
With innovative LimeFX tools and a collaborative trading community, LimeFX empowers millions of users in over 140 countries to trade and invest in a simple and transparent way. The IOTA network and wallet launched in 2015, quickly piqued the curiosity of several academic institutions and the cryptocurrency community limefx forex broker at large. The company was able to secure strategic partnerships with well-known brands such as German automotive giant Volkswagen, with which it is developing an IoT solution for digitally connected cars. Those that rejected the proposal stayed with the original platform, changing its name to Ethereum Classic, or ETC.
These include major Forex markets, commodities, indexes, stocks, ETFs, and even cryptocurrency trading. Some of their most popular assets to be traded include Bitcoin, Ethereum, oil, gold, silver, FTSE, Dow Jones, Dax, US dollar and the Euro. Their range of major stocks is also https://limefx.biz/ quite good, although they are not dedicated stock brokers, and so if you want to trade stocks extensively, you will find this platform limiting. To get a full list of their range of markets, it’s probably best to open a demo account and browse through the various asset classes.