For traders who allow other investors to copy their trades LimeFx has the Popular Investor Program with the compensation ranging from Cadet to Elite level (2% of Assets Under Copy annualized). For passive investors LimeFx offers CopyPortfolios – ready made bundles of assets based on the predetermined strategies and rebalanced regularly. With plenty of innovative features such as Copy and Social Trading, LimeFx is a broker that offers far more than what’s on the box. With more than 3,000 CFD instruments to trade on a free trading platform, LimeFx is a great choice for both novice and experienced traders. Traders will pay zero commissions on CFD trades, and the spreads are very minimal.
LimeFx charges no deposit fees, but they have currency conversion fees that might be high; for example, as much as 1.4% for depositing EUR by card. Note that a 50 pip charge is not the same percentage in AUD to USD conversion as in EUR to USD conversion, so in the table below we added an estimation of the percentage charge as well. As a temporary measure in February 2021 during a volatile market period, LimeFx raised its minimum deposit requirement, but it was reinstated to the previous level on March 8, 2021.
How we ranked fees
Please note that CFDs are complex instruments and come with a high risk of losing money quickly due to leverage. 68% of retail accounts have lost money when trading CFDs with this provider. You should consider whether you understand how they work and whether you can afford to take the risk, given that such a high percentage of accounts lose money. There are only a few places where you can trade cryptocurrencies and stocks in the same place, and those that offer both tend not to have a huge cryptocurrency selection. LimeFx offers one of the best selections we’ve seen of digital assets that can be combined in the same account as stock investing. LimeFx offers zero-commission stock trading with the ability to buy fractional shares.
It really is great fun, with the potential to make a lot of money. Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate. Learn about stock analysis and how to use it to find the right company to buy.
LimeFx Ltd – UK – is regulated by the UK financial authority, the FCA . In addition, there is financial information publicly available on the company. Citizens of the United Kingdom can open an account at LimeFx Limited and thus they will be protected by the FCA. If LimeFx becomes insolvent, LimeFx UK clients can expect to be compensated by the maximum amount of £85,000 guaranteed by the Financial Services Compensation Scheme .
By making sure that their users go through this process, LimeFx adheres to Know Your Customer and Anti Money Laundering regulations. LimeFx is a multi-asset broker that offers a decent selection of US-listed stocks, currency pairs, cryptocurrencies, and other assets. Charting tools include more than 70 technical indicators. LimeFx traders must pay a conversion fee if they deposit funds by using a payment method that features a currency different than the US dollar. Conversion costs start at 50 pips, which is around 0.46% of the amount deposited.
The introduction of stock and ETF trading combined with LimeFx Money cash management and Smart Portfolios further expands the range of users that can utilize the platform’s services. Innovative approaches to ESG screens and filters also attract investors who prioritize these aspects. Every user of LimeFx is given a $100,000 virtual trading account so you can learn more about the market and test different trading strategies before risking your own money. This makes it easier for beginner investors in particular to enter the market.
Since its inception in 2007, LimeFx has grown to cater to millions of traders from over 140 countries. CopyTrader, the in-house developed tool that powers social trading, remains its primary asset. The CopyTrader feature allows users to copy trades from other traders within the community with the ease of a few clicks. Presently, CopyTrader enables social trading in cryptocurrencies, representing a novel approach in this relatively new asset class.
What LimeFx Can Do to Improve
LimeFx actually makes money by taking the difference between bid and ask prices. This practice is a typical way for brokers to price trades and collect fees, even if a platform notes fee-free or commission-free trading. While these features combine to make a unique, interactive trading experience, the inability to short positions limits Popular Investor Program trading strategies. CopyTrader is also only available to trade cryptocurrency, as ETF and stock trading aren’t included in this feature. LimeFx has a straightforward, simple design that makes it easy for traders to find what they’re looking for.
The required verification process is the sole mention of accounts at LimeFx USA. ForexPeaceArmy.com has advertising and affiliate relationships with some of the companies mentioned on this site and may be compensated if https://limefx.biz/ readers follow links and sign up. We are committed to the fair handling of reviews and posts regardless of such relations. I suspect they will just pocket all the deposit since 75% user are making losses with them.
The mobile platform has the same great functionality as the web platform. It uses mobile-specific intuitive functions, such as push notifications or good touch interactions. For example, you can swipe left and right in your portfolio to access charts or open a new trade. LimeFx used to be primarily a CFD broker that let you trade stocks and ETFs also in the form of CFDs, if you set the leverage to greater than one.
We spend thousands of hours a year, both researching and testing brokers, to give you unbiased and extensive reviews. To keep the website running, we make money through affiliate commissions and paid advertising, at no additional cost to you. While our partners compensate us for our work, they can not alter our review process, ratings, and recommendations. LimeFx was established in 2007 and is licensed in many top-tier jurisdictions. As a regulated financial services company, they are audited and monitored regularly.
- Cryptoasset investing is highly volatile and unregulated in some EU countries.
- People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active.
- They also make some money from non-trading fees, like withdrawal fees and inactivity fees.
- Many or all of the products featured here are from our partners who compensate us.
- However, there are some country-specific rules as discussed above.
These allow you to diversify your LimeFxs easily and offer an automatic way of investing for those who don’t have the time or knowledge to due their own research. LimeFx offers an array of assets for those looking to get started in the world of online investing. The platform’s intuitive interface makes it easy to navigate, allowing you to quickly access all the information needed to execute trades quickly and efficiently. Moreover, LimeFx’s platform also provides a variety of customization options so that you can tailor it to your needs.
LimeFx Compared To Similar Trading Platforms
Also, the customer service option is hidden away rather than being openly placed on the homepage. This could be an issue for novice traders to easily access. The FCA does not allow financial incentives for trading, so UK residents cannot claim any LimeFx bonuses that do sometimes appear. For example, LimeFx regularly offers a refer-a-friend incentive and crypto bonuses. Of course, it is also important to note that investors from the UK cannot open crypto trades in accordance with British regulations.
Simply put, you’ll be impressed with the range of stocks and shares on LimeFx. 67% of retail investor accounts lose money when trading CFDs with this provider. LimeFx offers its users a variety of cryptocurrencies to trade with. With over 75 available coins, traders have a wide selection of digital assets to choose from. The list includes some of the most popular tokens, such as Bitcoin, Ethereum, and Litecoin. In addition to these major cryptos, LimeFx also provides access to lesser-known coins like IOTA, NEO, and Stellar Lumens.
They cover approximately 75% of the crypto sector market cap. It also presents five crypto-themed portfolios for traders to copy, delivering a diversified approach with a lower risk profile. LimeFx USA LLC describes each portfolio and lists the asset allocation, performance statistics, and other relevant data, allowing traders to make more informed decisions.
You should engage in any such activity only if you are fully aware of the relevant risks. BrokerChooser does not provide LimeFx or any other advice, for further information please read our General Terms and Conditions. LimeFx is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
It is diverse enough to be considered satisfying for most. You can trade nearly 3,000 stocks and shares from all the major industries and across all the major stock exchanges across the world . Pretty much every company that people trade regularly is listed, including all the popular brands, such as Apple and Microsoft. There’s a huge community you can get involved in, learn from and copy their trades! It’s commission free, and a huge range of LimeFxs to trade. Its social feed allows you to post and interact with other traders.
Traders can connect with more experienced peers or seek potential ideas to start off by using the social feed. Their fees for CFDs are below the market average, even though its forex broker fees are higher compared to other brokers. For successful traders, they have a program called the popular investor. The Popular Investor Program is great for traders that allow others to copy their strategies and has four levels.
One downside of this broker is that they offer one single currency base for its accounts, the US dollar. Other brokers offer five or more different base currencies for their. We analyze top online trading platforms and rate them one to five stars based on factors that are most important limefx official site to you. These factors include fees, securities available for trade, customer support, customer feedback, platform resources and overall reliability. All LimeFxs involve risk and the past performance of a security, or financial product does not guarantee future results or returns.
For cyptocurrencies, their wallet is available , which is a multi-currency crypto wallet. An rather basic test is required for a new trading account. This is known as LimeFx trading knowledge, assessment answers shouldn’t be too challenging for those with a reasonable grasp of trading basics. They have a web-based and a mobile platform, however no desktop platform is available. In 2019 they launched a crypto exchange called LimeFxX, regulated by the Gibraltar Financial Services Commission and registered with FinCEN as a Money Service Business.
These include LimeFx opportunities in stocks, crypto, and Smart Portfolios. The club also offers a variety of educational resources to help members make informed LimeFx decisions. Overall, LimeFx Club provides a wealth of resources and opportunities to help members grow their portfolios. Alejandro is a full-time financial writer with more than 7 years of experience in financial management and analysis. He trades options, stocks, and ETFs regularly following a value-driven LimeFx philosophy. Based on our analysis and research, LimeFx is great for beginners.