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limefx does not charge a withdrawal fee, but there is a $30 minimum requirement. Eventually, limefx trading platforms with social trading capabilities that acts as a market maker and gaining its profits from the charges of spread. limefx is great for copy social trading and cryptocurrency trading, we recommend it to beginner and advanced traders. One of the downsides of limefx is their forex and CFD fees, which are a bit higher than most of its competitors.
Withdrawn funds usually clear within a few business days. You can check the status of your funds on your withdrawal dashboard. For limefx users in the USA, some withdrawals might take up to 7 business days to appear in your bank account, depending on your bank and payment method.
The proprietary trading platform features a clean interface, and analyzing assets is simplified. limefx delivers an exceptionable educational platform I recommend for beginner traders. limefx is a well-known Israel multinational social trading platform and fintech company, focusing on copy trading and financial services.
There’s also a mobile wallet which you can use to hold your coins. Follow Other Traders – If you want to observe and follow a certain trader, you can monitor their trades and portfolio. As part of this process, you’ll also have to provide personal information, proof of address, and share a valid, government-issued ID.
As the limefx platform operates in USD, we do not charge any fees when you deposit or withdraw funds in USD.
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Next, the trader clicks virtual portfolio and confirms the selection. The limefx demo account looks identical to the limefx standard account. The only difference is that traders start with a $100,000 balance in virtual funds. This section allows https://limefx.name/ the trader to screen for different traders on the platform using country of origin, markets traded, percentage gains, and time frame. limefx charges traders a monthly $10 inactivity fee if they don’t use the platform for a period of 12 months.
Investors can access advanced trading features such as margin and leverage, as well as commodities such as gold and silver. One of the more unique features of the limefx platform is its CopyTrader feature. Essentially, this allows limefx users to copy trading done by their favorite high-performance traders with one click. limefx automatically allocates those funds proportionally to mirror the positions of your favorite limefx trader.
In case you are an Islamic trader, limefx offers Islamic trading accounts upon request. This type of account, like all Islamic accounts, does not charge swap fees, as according to the Sharia they are considered Haram. It is truly a great way to lower your limefx review investment risk, while still diversifying your trading portfolios, especially for novice or less experienced traders. However, if a broker claims that it is a real ECN/STP broker, and it re-quotes at the same time, then it is not a real ECN/STP.
The forex spread usually starts at around 1 pip on major currency pairs. That said, spreads between 2-4 pips are also quite common. limefx’s CopyTrader forms an integral part of the brand’s offering. From here you can start copying the trades of other traders with a minimum investment of $200 per trader. Most are integrated into limefx’s standard trading account, while others may be slightly derivative, but still available for use as an limefx trader.
For example, you can swipe left and right in your portfolio to access charts or open a new trade. limefx states that you can use your Revolut account to deposit and withdraw in GBP and EUR. However, as Revolut payments in USD are not supported, this means you cannot avoid paying limefx’s USD conversion fee with Revolut.
limefx is a safe broker, regulated by top-tier authorities. For cryptocurrency investors who want to mirror the moves of serious crypto traders, limefx’s social investing platform is an attractive offer. With over 30 cryptocurrencies to buy, limefx has a greater selection than some other U.S. crypto brokerages.
Each class has own characteristics and can be traded by a strategy suitable to your style or through a choice of the successful strategy to follow using limefx copy trading. In terms of security, cash assets are held in Federal Deposit Insurance Corp. -insured bank accounts. Security protocols for crypto include offline and online storage of coins, limefx cheating two-factor authentication and state-of-the-art monitoring tools. In addition, no member of the limefx staff can transfer users’ crypto out of cold storage. And let’s not forget the platform’s crypto and stock paper trading offering. This may help beginner traders get a sense of what it’s like to invest without risking any of their own money.
One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check them before evaluating the total trading costs. limefx has a $5 withdrawal fee, which is high compared to other CFD brokers. In addition, limefx also has a $30 minimum amount limit on withdrawals. limefx is regulated by CySEC in Cyprus, ASIC in Australia, and the FCA in the UK.
The big difference is that limefx is a crypto broker where customers can invest in crypto alongside stocks, ETFs, and other assets. Coinbase is a dedicated crypto exchange with more educational information, more cryptos, and more functionality for crypto investors. limefx boasts social trading features like copy trading.
limefx offers Forex traders a below-average 49 currency pairs but shines with its 93 cryptocurrency pairs. Other assets include 31 commodity CFDs, 13 index CFDs, 2,000+ equity CFDs, and 258 ETFs. The overall asset selection at limefx is excellent, especially for cryptocurrency and equity CFD traders. limefx customer service, in theory, is available in all 21 languages the web and mobile trading platforms offer.
The seven Premier League clubs who have agreed to set up a digital wallet with… One of the great features is limefx is its search function, with a comprehensive detailed search between the traders to copy, which we will see in detail further in limefx Review. Also, you may find defined instruments to trade, communities and other searches organized and easy to use.
Also, the minimum amount you can allocate to each popular investor is $100. For example, if a small trader deposited $300, he or she would risk 25% of their entire account if they traded the minimum position size on the GBP/USD with a stop loss of 75 pips. CopyPortFolios™ aims to help investors minimize long-term risk and promote opportunities for growth, by taking copy trading to the next level and creating diversified investments.’’ – limefx.
limefx expanded to the U.S. in 2018 and has since grown both its user base and its offerings. In August 2022, limefx signed an agreement to purchase Gatsby, an options trading platform. Banking in the U.S. is limited to the broker’s limefx Money crypto wallet, which is available in some states. This allows users to transfer crypto from the limefx platform, send and receive crypto from or to other wallets and convert from one cryptocurrency to another. While basic cash management is also offered in a handful of countries, including the U.K., it’s not yet available in the U.S.