LimeFxFX Review 2024 Is LimeFxFX legal in Malaysia?
For LimeFxFX this includes the fact that they have only a limited number of assets available to trade in. LimeFx withdrawal request can be submitted via the client panel. You will see full payment option based on your region while submitting the withdrawal request.
- As a copier here, you also will not be charged any other commission besides that set by the person you are copying.
- LimeFx promotions program currently offers a 50% deposit bonus to traders on a minimum deposit amount of $50.
- They are available with trading through MT4 and MT5, though the broker does charge an additional mark-up fee to cover for the rollover fee which is not in place.
- It is important to comprehend the available features and terminologies available at a trading platform to make better trading decisions.
What is the minimum amount in LimeFxFX?
Moreover, many of them—like LimeFxFX—have multiple international licences and incorporation documents that allow them to accept clients from all over the world. The lists simply state that those entities are not licenced in Malaysia. The overall fees that LimeFx charges are lower than most other brokers, which makes than an attractive choice for traders looking for a low-cost broker. The availability of instruments depends on the type of account that is being used. The MT5 account type offers the widest range of instruments to trade. Based on our research, the overall cost of trading CFDs at LimeFx is not the highest, because other brokers like FXTM, LimeFx charge higher or the same.
LimeFx Deposit and Withdrawal
These typically take 1 day to process or less, though a wire transfer may take longer. There may also be a fixed exchange rate in place to benefit you as a trader depending on location. Here the broker makes a special fixed exchange rate of 1 USD to 10,000 IDR available that can help traders combat currency volatility.
Halal or Haram? A Close Look at Forex Trading and LimeFxFX in Malaysia
Also, addition, orders less than 180 seconds can be considered abuse and canceled too. LimeFx accepts deposits from Malaysian banks and allows withdrawals to all Malaysian banks. You can also deposit via cards, e-wallets and cryptocurrencies. Withdrawals can only be made to the same account from which the deposit was made, and must be in the account holder’s name. You might have seen LimeFxFX in ad-form, using local Malaysian celebrities like Aliff Syukri and Wak Doyok as spokespeople to endorse the trading platform. But before you open up your wallet, it’s best you should know that Bank Negara Malaysia (BNM) has officially added LimeFxFX to its Financial Consumer Alert list.
But, many traders will find that the instruments that they offer are quite limited compared to other brokers. Also, LimeFx is less well-regulated than comparable brokers and is only regulated by a single Tier – 1 regulator. The traders trading with LimeFx (LimeFxFX) in Malaysia are choosing them at their own risk as they are not regulated. Web Trading Platform – Their web trading platform be used if you want to trade through your internet browser. This offers a quick and convenient way for you to access the trading platform. LimeFx does not charge any deposit or withdrawal fees which makes it highly attractive to open an account with them.
A Forex broker, such as LimeFxFX, plays the role of a middleman, transmitting Forex trades to the broader international market, facilitating traders to profit in mere minutes. The broker, in return, profits from the spread—a small fraction of the difference between the currency buying and selling prices. LimeFx offers 24/7 customer support options for traders via 2 channels. Our team tested the live chat and email support, here is our review. The minimum withdrawal amount on LimeFx is MYR 20 for local bank accounts, $5 for withdrawals to e-wallets, and $20 for cards (Visa).
LimeFx promotions program currently offers a 50% deposit bonus to traders on a minimum deposit amount of $50. The bonus is not automatic, as clients will have to apply for the bonus after their account is credited with the deposit sum. Tradeable instruments on this account are currency pairs, and CFDs on energies, metals, cryptocurrencies, and 4 indices. Recommended deposit amount for MT4 Account is also USD100 and you also have negative balance protection.
Although this comes at the expense of higher third-party risk. LimeFxFX is safe to trade due to FSASVG regulation but it is riskier than top-tier regulated CFD brokers in Malaysia. MT4 and MT5 mobile trading platforms can be downloaded on mobile and tablets of Android and iOS operating systems.
Traders from Malaysia are registered under ‘LimeFx Markets Incorporated’, which is registered offshore. LimeFx MT4 – The trading platform that is available for this type of account is MetaTrader 4. The floating spread for this type of account starts at 0.6 pips. They do not charge a commission when trading through this limefx scam type of account. If you are trading 1 standard lot (100,000 units), you will pay USD 10 in spread to LimeFx under this assumption. This is not the lowest spread for majors as there are brokers with lower spreads, but for traders who prefer straightforward model of spreads for trade, this fees structure works okay.
The minimum deposit amount is different for each accepted method at LimeFxFX. LimeFx is not regulated in Malaysia & they are not licensed by the SCM. Malaysian traders at LimeFx are registered under offshore regulation, https://limefx.vip/ so you are trading at your own risk. The first step to start copy trading is to fund your CopyTrading wallet with a minimum investment sum of $25, some Master Traders require higher minimum investments.
The variable spreads start from 0.2 – 0.4 pips with a commission already rolled in and no other mark-up to worry about on your MT4 Micro, or MT5 Pro Account. You will also find fixed spreads available on the MT4 Micro account that start from 2 pips. You can expect market execution to happen in under 0.1 seconds. The spreads when trading here are also kept as tight as possible.
LimeFxFX can be chosen to trade CFDs in Malaysia but the clients are registered under offshore regulation. The third-party risk of choosing LimeFxFX in Malaysia is higher than all the top-tier regulated CFD brokers in Malaysia. LimeFx is not regulated in Malaysia, and traders are trading at their own risk. They have low spreads, MetaTrader platform, copytrading & good support.
My friends who have been trading for quite a while recommends LimeFxfx but I’m still feeling quite sus about it? Both authorities (BNM and SC) indicate that inclusion in the alert lists is only meant to increase awareness of entities not licenced or regulated by them. This, however, doesn’t mean that all the companies on the lists are frauds or scams.
