Forex Trading

Beware Of Broker Imposter Scams

Ask to see financial statements audited by a certified public accountant . Find out if the company earns income from selling its products or services to customers, not to its sales team. Pyramid schemes collapse when they can’t recruit enough new participants to pay earlier investors. Research investment opportunities and investment professionals.

Fraudulent schemes perpetrated in the securities and commodities markets can ultimately have a devastating impact on the viability and operation of these markets. If there’s one good thing to mention, it’s the Status Markets trading platform. The broker offers a web trader, but besides, there’s an MT4.

scammed by LimeFX

The Trading Central has tutorials, excellent basic research products, and video-on-demand. This lack of clarity makes it complicated for prospective clients to make a transparent evaluation of the broker’s competitiveness before opening an account. LimeFX partnered with Arsenal FC in 2014 as the football club’s “Official Forex and CFD trading partner” to access its wide-ranging digital channels. Part of the deal was that LimeFX broker provides “Matchday Experience” for the winner of the matches.

Whatever you are looking to trade the varying LimeFX account types will be able to provide you with what you need. You can start using the MetaTrader 4 platform with LimeFX in multiple formats including through an online web platform, Through a downloadable application for Windows PC’s and Apple Macintosh computers. LimeFX MetaTrader 4 is compatible with the latest macOS Mojave. LimeFX allows traders to trade on mobile devices through Android and iOS devices like the iPhone. Once you have logged into your LimeFX account you will see the below trading platform options available to you.

Commission And Fees At LimeFX

When scanning LinkedIn profiles, be aware that scammers often copy select information from a registered person’s LinkedIn profile to create the appearance of legitimacy. While impersonation scams are certainly not new, there are surprising new variants every day. In a February 2021 report, FINRA observed an increase in cyber-related incidents, including fraudsters creating fake websites using the names and professional details of actual industry professionals . And more recently, the FBI and Securities and Exchange Commission issued a warning to investorsabout this problem.

scammed by LimeFX

Finally, LimeFX offers trading of IPOs or Initial Public Offerings. It is important that when you are looking for an avenue to invest, you invest in something or a platform that is credible and gives you good return on investment. Online by a friend who has been in the money markets for quite a while and doing really well. To be honest I was very skeptical at first but he gave me confidence and here I am. Online, I felt very comfortable and I traded with ease, they provide all round customer support which I contacted any time. They provide their users with flexible options and trustworthy services that will put you in a position to succeed as an investor and enable you to manage your money from anywhere with ease.


The robust participation promotes consistent liquidity and volatility, two attributes conducive to the creation of hedging and speculative opportunities. Many clients like FP Markets, but nonetheless, there are some drawbacks. Although FP Markets has low fees, some withdrawal methods do carry fees and the stock trading fee tends to be higher than average. Unlike some brokers, FP Markets isn’t listed on the stock exchange. In addition, this broker does not have its proprietary platform. When it comes to a brokerage firm demanding a Minimum initial Deposit, we can plant one red flag against the scam brokers.

  • It features a huge range of tools like additional timeframes and the most up to date technical indicators to give you all the trading resources you need to trade on and analyse the financial markets.
  • So I’ll advise you stay away and not put your money at all.
  • The all round customer support is what I do admire above all.

Finally, Forex trading is heavily monitored by regulatory authorities and, therefore, not prone to fraudulent transactions. Regardless of whether a demo account or a live account is being opened, the registration process requires the completion of five simple steps. Personal information, tax information, trading experience, financial information, and financial knowledge have to be provided on LimeFX to complete the registration. Self-verification has to be done by uploading proof of residence and proof of identification so that LimeFX can conduct authority checks. The registration process can now be completed by making a choice or postponed to later.

You will not be able to trade Stocks, Indices, Commodities, ETFs, Futures on any MetaTrader 4 platform unless they are CFD contracts or Spread bets. You will not own any underlying assets with CFDs or Spread bets as you are speculating on price movements with LimeFX. LimeFX is among well regarded reputable Brokers listed in FTSE 250 and extra transparency.

Even if the seller and the investment are registered, discuss your decision first with a family member, investment professional, lawyer or accountant. Any investor can become a victim, but persons aged fifty years or older are most often victimized, whether as direct purchasers in securities or indirect purchasers through pension funds. Not only do investors lose but so can creditors, taxing authorities, and employees.

One must remember that trading is usually not a zero-sum game, and brokers primarily make commissions with increased trading volumes. Overall, it is in the best interest of brokers to have long-term clients who trade regularly and thus, sustain capital or make a profit. It is also entirely possible that new forex traders fail index options to trade with a tested strategy or trading plan. Instead, they make trades based on psychology (e.g., if a trader feels the market has to move in one direction or the other) and there is essentially a 50% chance they will be correct. If you do an internet search on forex broker scams, the number of results is staggering.

Cryptocurrency Scams

However, their minimum deposit is high ($250) and it takes about 5-7 days for me to withdraw funds. During the COVID-19 pandemic, scammers may try to take advantage of you. They might get in touch by phone, email, postal mail, text, or social media.

At the bottom of the page, you will see the trading hours for cryptocurrencies. These are divided into Bitcoin Futures and the remaining cryptocurrencies. Below this, you can view the trading hours for the Asian, Pacific, and African Indices.

scammed by LimeFX

LimeFX has different ccount typeswith different pricing models depending on the account size and type of the trader, also separate proposal for trading and investing. If you have realized your broker is fraudulent, it is important to act fast because scam artists tend to retreat under alternate identities. Trader Defense Advisory is staffed with a team of financial experts forex and professionals with in-depth knowledge of regulations and legal issues surrounding fraud. We are well-versed in the chargeback and wire recall process and provide guidance and support. If you try to log into your account and can’t, it could be a technical glitch, but in some cases, a scam broker may have taken your money and is locking you out of your account.

The deposit bonus or double bonus is simply the jar of honey. The forex trader is the bee who is too far eager to get to the honey to bother to examine the integrity of the limefx scammers pot. This forex scam takes its inspiration from the traditional managed fund model where a financial expert manages an aggregate of carefully risk-balanced investments.

The LimeFX platform is available to use on multiple devices includingiOS devices like iPhones and iPads, Android devices and online through a Web Browser. This LimeFX review was written by industry experts with over 20 years of financial experience in Forex, CFDs, Spread Bets . The overnight limit is the maximum net position in one or more currencies that a trader is allowed to carry over from one trading day to the next. Even in more transparent markets, slippage happens, markets move, and we don’t always get the price we want.

LimeFX Trading Benefits

Because LimeFX is regulated, investors know that they are working with a reputable, reliable provider within a secure environment. You can relax knowing that LimeFX follows strict guidelines to maintain their regulation. If you look at the support center of LimeFX, you will find a convenient glossary with key terms. Or you can find more educational tools in the Knowledge Center. This includes many video tutorials that help you understand the basics of using LimeFX.

LimeFX Fees

Access your LimeFX MetaTrader 5 accounts from any web browser. It features a huge range of tools like additional timeframes and the most up to date technical indicators to give you all the trading resources you need to trade on and analyse the financial markets. This is because each brokerage firm will have different withdrawal methods and each payment provider may have differing transfer processing fees, processing times and a potential currency conversion fee. The Conversion fee is dependant on your base currency, your receiving currency and your payment provider. We have checked and LimeFX is regulated and supervised by reputable organisations.

LimeFX Account Signup

Indicators include Instrument Intraday, Pivot, Green Analysis, Red Analysis, Comment, Released, Resistance, and Support. Each of these can be used in different ways to create a trading strategy. You can deposit funds into your LimeFX account in USD, EUR, GBP, DKK, NOK, SEK, PLN, CZK, AED. If you go to the deposit section of LimeFX, you can also find other currency options. You can make a deposit on LimeFX using your credit card.

Report Ponzi Schemes

You will need to provide some basic documentation to prove your identity as part of LimeFX onboarding and normal KYC identity checks. These checks are standard practice and help LimeFX provide a safe financial environment for their 4,000,000 users. MetaTrader 5 also known as MT5 is a multi asset trading platform that provides a wide range of trading features and financial research tools, MT5 also allows the use of automated trading systems and copy trading. New features like additional timeframes and advanced charting tools can give you a competitive advantage in the financial markets. If you are no longer using your trading account close it with the brokers customer support. And make sure you have a confirmation that any remaining fees are not due.

Brokers that offer lower minimum deposits are generally geared towards a more mainstream audience that do not require some of the more advanced features and research tools. LimeFX is a global trading platform in the sense that it operates in 128 countries including nations in Europe, Oceania, and Africa. Major countries LimeFX covers include the UK, Germany, Australia, South Africa, Thailand.