Whether you’re a seasoned professional or just starting out, LimeFxFX provides a comprehensive and accessible solution for all your trading needs. Quick responses whenever I’ve had a question or needed assistance. The rating displays the list of Master Traders sorted by their risk score. The higher the score, the riskier the strategies the Master Trader uses are.
When is the commission charged to my Copiers?
If the master trader has a rating of 4 or 5, then they are considered high-risk takers. Launched in 2011, LimeFxFX is a well-known brokerage firm with a presence in over 150 countries. As of November 2023, this broker boasts 10.5 million trading accounts. Three aspects that make LimeFxFX stand out are its excellent customer support, low trading costs, and a wide range of educational material.
What are the copying options available?
It is completely free and it gives you access to the trading platform. You can even try LimeFxFX’s different account https://limefx.name/ types with the demo account. You can make a deposit or transfer money from your LimeFx trading account.
Trading Platforms
- Minimum deposits at LimeFx will vary depending on your country of residence and your chosen payment method.
- That being said, by copying successful traders’ trades, traders can benefit from their expertise and experience.
- The Saint Vincent and the Grenadines Financial Services Authority (SVGFSA) offer weak trader protection.
- There is no guarantee of profit with copy trading or any other form of investment, as the financial markets are inherently unpredictable.
The domain belongs to a group of companies called LimeFx Markets Incorporated which is registered with St. Vincent and Grenadines FSA. Currently, the company focuses on Asian, South African, and Australian markets. LimeFxFX.com does not accept European clients as this market is specifically appointed to LimeFxFX.eu (regulated by CySEC).
This allows you to diversify your portfolio and minimize your trading risk. Such a strategy is often known as people-based portfolio, which refers to traders who invest in other traders rather than perform the trades themselves. TradeForexSA is a reader-supported South African magazine that aims to provide Forex guidance to beginner and experienced traders.
Is LimeFx a good broker?
In addition to allocation adjustments, effective risk management is vital in LimeFxFX Copy Trading. Investors should define their risk tolerance and set appropriate risk parameters. Implementing stop-loss and take-profit levels for each copied trade helps limit potential losses and secure profits. By managing risk and adhering to predefined risk management rules, investors can safeguard their capital and minimize losses during volatile market conditions.
Though it has been granted regulatory status in Cyprus and South Africa via an intermediary (Orinoco Capital), LimeFx’s lack of additional reputable licenses heavily weighs down its Trust Score. Becoming regulated in more jurisdictions – especially in Tier-1 jurisdictions – will go a long way towards building trust with existing and prospective customers. CopyTradingCritic.com limefx review All Rights Reserved 2023 This website is a valuable resource for those interested in copy trading. However, it is important to note that copying any content from this website without proper permission is strictly prohibited and may result in legal action and penalties. One thing I really appreciate about LimeFxFX is that they don’t hit you with those overnight charges.
Some of the most important things to be considered are the copy trading platform and the trader to copy. The idea is to copy trades that a certain trader executes so that their win becomes your win too and their loss becomes your loss. The trades themselves are executed in a percentage-based manner because you only connect a part of your portfolio to a single trader.
Rather than specializing in any one field, LimeFx provides a wide assortment of content types. However, when compared to research leaders IG, Saxo, and CMC Markets, LimeFx has room to enhance its research offering. LimeFx does have a proprietary app for social copy trading (the LimeFx Copytrading app), yet it still trails behind industry leaders such as IG and Saxo. Check out my picks for the best mobile trading apps in the industry. LimeFx has struggled with pricing in the past, but has vastly improved in this category and is now gaining on the lowest-cost MetaTrader brokers. In addition, LimeFx boasts no slippage on 97.5% of its executed orders, and no overnight carry costs, yet has restrictions in place that can hinder high-frequency traders.
Take the time to analyze these metrics and assess the consistency of their performance over time. When we used the LimeFxFX app, it was easy to integrate an existing MetaTrader profile into the branded app. You can set SMS price alerts and app notifications of market movers. The application also permits full account management including live deposits and withdrawals and copy trading services. LimeFxFX is a forex, CFD and copy trading broker offering the MT4 and MT5 platforms. In this 2024 broker review, our experts log in to the personal area and uncover the key features, including leverage, demo accounts, regulation and more.
Whether LimeFxFX Copy Trading is profitable or not depends on various factors, such as the performance of the trader being copied, market conditions, and the trader’s own investment decisions. There is no guarantee of profit with copy trading or any other form of investment, as the financial markets are inherently unpredictable. Communication and transparency are valuable qualities to consider when selecting traders for copy trading.
Choosing the right traders to copy is the key to successful copy trading. When a trader suddenly changes behavior and underperforms, you know that it’s time to cut your losses and move on. Make sure that your portfolio is balanced and able to give you consistent passive income. Choose someone who trades with a real trading account and risks their own money. These traders are usually less reckless with their trades compared to others.