LimeFx scam: LimeFx Review: Scam or Legit Read Before Trading
That’s a sure sign that LimeFx has been using bots or fake accounts in an attempt to boost their overall review ratings. One of the most important elements of any broker is how easy it is to access your account. Binarybrokerz login screen is easy to find and simple to use; this is in keeping with most other businesses offering this type of service.
Therefore, it’s clear that this broker is no longer authorized and shouldn’t be considered in 2023. Speaking of trading features, LimeFx provides access to basic trading services, without limefx forex broker any special options. There are more than 750 CFDs based on cryptocurrencies, currencies, stocks, indices, and commodities, with different leverage for retail and professional clients.
Traders from all around the world can make use of this platform, with multiple languages available. With a Platinum account, the spread comes down to 0.7 pips. This is very competitive, but it comes at the cost of putting down a massive initial deposit. In March 2019, they reached a settlement of €200,000 with CySEC for possible violations regarding LimeFx activities’ performance and the disclosure of information to clients. They also invoked articles regarding conflicts of interest. Finally, the regulator cited an article regarding the broker’s obligation to submit correct, complete, and accurate information.
Global.LimeFx Review – Should the broker be trusted?
In this review, we will describe why your funds are not safe with LimeFx. I found the site difficult to use following my deposit of 300 euros. Asking for help the trader kept asking me how much I held in pensions, ISAs and savings.
So, it goes without saying how important it is to find a legit Forex broker. And while the internet is full of scammers, it still doesn’t imply that the trustworthy brokers are nowhere to be found. I just lost USD 8,000.00 by the means you and MR. Alexander G. Muir well described.
Normally I would list Meta Trader 4 as an extra, but this is an FX/CFD broker and Meta Trader is widely used by this type of broker. So in other words, LimeFx doesn’t have any outstanding features that would put it ahead of the pack. If you believe that your broker has wronged you and you want your deposit back, our dedicated team of professionals can help you now. The platform also features a library of premium automated trading tools, some free and some that come at an additional cost.
Additionally, it’s worth noting that Global.LimeFx does not charge any commissions, hence the spread is the only cost you pay. For one thing, the market fluctuations can just as easily make someone rich or put them in a dire financial situation. But market fluctuations aren’t the only threatening facets of trading Forex, stocks, or other securities. LimeFx could go bankrupt from one day to another since there are no banking information about this broker. The new mobile app was actually good, great features and improved reliability and speed. I like the way the personal treats and assists its customers.
The broker has faced many allegations of presenting a misleading picture of CFD investing to new traders. The account types information provided by LimeFx is ambiguous and lacks a lot of valuable information. Based on the information provided by the broker, clients can open a Silver, Gold, and Platinum accounts.
Is Global.LimeFx legit or should you avoid the broker?
We recommend staying within the range of good taste and respectful language to avoid any unpleasantness. It’s a good experience, we tackled about the market trends that stand out in relation to others stressing major shifts in currencies and stocks. I have learned the different aspects of this market easily. They don’t offer a bonus, in accordance with CySEC’s rules and ban on bonuses.
Online Brokers Online Trading Reviews – Investing.com
Online Brokers Online Trading Reviews.
Posted: Sun, 02 Oct 2022 07:00:00 GMT [source]
During the past few years, MetaTrader 5 had been gaining a lot of traction and now is one of the most popular platforms. Brokers Complaint can have advertising and affiliate relationships with some of the trusted recovery companies and may be compensated through them . Brokers Complaint is committed to the fair handling of reviews and posts regardless of such relations. Brokers Complaint is one of the best recovery agencies specializing in Lost Cryptocurrency funds recovery. We also help victims of Forex frauds, Binary frauds, LimeFx scams, Pension frauds and many other types of scams. Here you get assistance perceiving ascam brokerbefore you are excessively profound into it.
Alongside their 50 currency pairs, the broker has over 250 available assets in total. Given how much the broker’s status has degraded since that time, it seems unlikely that they will ever reinstate access. These fines led to the Italian regulator, CONSOB, blocking access to Hoch Capital’s brokers LimeFx and TradeATF from within the country.
However, due to a parallel regulation from a European CySEC , you can trust the compliance of a safe trading environment. As we hope we’ve made clear by now, it’s not a good idea to invest your money with this company. At best, you’ll be dodging pushy sales calls and questioning the legitimacy of their platform. At worst, you’ll find yourself swindled of your hard-earned savings. Worse, we see near-constant reports of pushy advisors who ask for more money on a daily basis or claim that customers need to invest additional funds in order to make such-and-such a trade.
Finally; anyone using this service will benefit for access to an excellent customer support program. The assistants actually know about investing and can offer advice twenty four hours a day; five days a week. To help you even further you will find it is possible to access a good training facility.
CySEC and LimeFx Reach Exit Settlement
Aside from MetaTrader, the company does provide access to a proprietary mobile app compatible with both iOS and Android devices. If we look at the rating on Google Play, though, users have mixed opinions on the platform. Ratings are split between 5-stars and 1-stars, which means there are a lot of traders unsatisfied by the performance of the app. With these trading platforms come various tools that complement the overall experience. Global.LimeFx offers the Economic Calendar, as well as calculations for swaps, spreads, and other trading-related features. In short, software support on Global.LimeFx is on par with its other premium offerings.
- By signing up with Global.LimeFx, getting a demo account and putting your hands on the educational activities available with this broker, you can be fully prepared to trade on the world’s largest markets.
- This way, wherever you are, you can fire up an app in your smartphone and start trading Forex pairs, stocks, commodities, and indices in a single platform.
- The next important aspect of every broker review is the license.
- These countries have very loose financial regulations and are known as headquarters for numerous international scammers.
During the board meeting on July 6th, 2020, CySEC approved the broker’s request to renounce their Cyprus LimeFx Firm authorization. Rather than implement the changes necessary to meet CySEC regulations, the broker decided to abandon their CySEC registration. Their attempt has failed, as both Cyprus and the UK have banned https://limefx.vip/ the company from carrying out any LimeFx activities. CYSEC has announced that it has suspended the activities of Hoch Capital Ltd, the parent company of LimeFx. The company had been operating on a global scale while bearing the official designation of a Cyprus firm in an attempt to evade stringent investor protections.
Of all the negative feedback we’ve seen about this company, at least 90 percent of it is related to this tactic. We’ve talked about this in some other reviews, but it bears repeating. Be wary of limefx any forex traders who are headquartered in Belize, Estonia, or Vanuatu. These countries have very loose financial regulations and are known as headquarters for numerous international scammers.
This is just a scam
As a result, the FCA came down on the companies swiftly and harshly with a complete ban, revoking the passporting rights that had allowed the CySEC licensed brokers to offer services there. The UK regulator believes that fraudulent advertisements may have led UK investors to lose hundreds of thousands of pounds. As such, Hoch Capital and its trading names imposed to notify all active accounts and must not provide any financial LimeFx services t the UK residents. With a CFD, you’re simply placing a bet on whether the asset will lose or gain value. Remember how LimeFx’s parent company sets its rates and prices?
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I knew almost nothing, but this platform provided me with the analyst, who taught me a lot. Currently, i’ve learned how to trade on currency pairs and do it well. So i’m very pleased with trading on such a reliable platform, with professional assistance. Despite that Hoch Capital is CySEC regulated broker, FCA considers its trading practices and aggressive marketing promotion in the UK controversial to its MiFID obligations.
So, even though Global.LimeFx doesn’t provide service to the citizens of some countries, including the US and Canada, we still don’t think that it’s because of the broker’s fraudulence. It’s simply because these countries have much stricter financial regulations and not even many legit entities fulfill those requirements. Therefore, we believe the Global.LimeFx fraud is just a rumor and has nothing to do with reality. What’s more, Global.LimeFx also offers an Islamic account. With it, traders from the countries that adhere to the Islamic sharia law can trade without swaps or hidden commissions; even spreads are zero in this account.
They circulated advertisements on social media featuring falsified celebrity endorsements. It goes against our guidelines to offer incentives for reviews. We also ensure all reviews are published without moderation.
Tell us about your case with a free consultation today, and we’ll let you know what we can do to help. WINIFORD Review Company’s Highlights WINIFORD is a cryptocurrency trading platform launched in… Those who are accustomed to using another platform will find it hard to adapt to the LimeFx infrastructure.
In light of the recent settlement reached between Hoch Capital and CySEC, the company appears to understand the need to provide a better service. So let’s hope they’ve learned the lesson and will become a more reliable broker. LimeFx no longer has any authorization to offer financial services within the EU. In December 2019, CONSOB banned one EU-regulated trading firm for the first time. The regulator exercised its right to restrict this brokerage due to constant violations of European directives, including their failure to provide negative balance protection.