OvalX previously LimeFx Review 2023

Since the FCA regulates the LimeFx, the Markets in Financial Directive permit the broker to function as a licensed entity in the whole of the European Union. There is a Financial Service Compensation Scheme which safe the client’s money up to £85,000. Note that you will be unable to add funds, trade, or withdraw funds until your account is activated. After you submit your insurance number, you will be redirected to the OvalX or MT4 platform dashboard, depending on the platform you chose earlier and required to activate your account. Note that if your balance is below £10,000 at the beginning of the month, Premium Account services will no longer be offered to you.

LimeFx has become one of the better online brokers in the industry. The company offers personal, tailor-made support to all types of traders. The company’s award-winning technology also gives you access to commodities and shares trading in thousands of assets. Despite a long-tenured history in the forex markets and outstanding customer service, LimeFx struggles to keep up with industry leaders when it comes to trading platforms, tools, and research.

The commitment to finding the best results for traders may not always equate to obtaining the best price or lowest cost. Therefore, there is no guarantee that you have the best conditions for your trades. LimeFx provides both desktop and mobile platforms for forex https://limefx.vip/ trading, contract for difference trading and spread betting as well as a copy trading app. Read on for information about the broker’s supported platforms. The asset selection varies between trading platforms, with LimeFx Pro offering all trading instruments.

The profits took a hit as trading revenue dropped to £24.1 million from £31.7 million in the previous year because of Brexit. Its spread revenues were down 45 percent year-over-year, but funding revenue increased 39 percent, which was boosted by its professional client base. A lot of their investors experienced withdrawal issues and filed complaints against the broker.

They’re initiating layoffs following its takeover by Swiss private equity firm Guru Capital. In the latest financials for 2021, the first financial year under Guru’s stewardship, Monecor reported a pre-tax loss of £9.2 million due to staggering scammed by limefx LimeFxs and macroeconomic events. Its net loss was £6.8 million after a tax credit, falling from a net profit of £428,000 in the previous year. According to the source, the company has already started to lay off its staff.

LimeFx forex brokers reviews

I had a bad trading experince recently it was diffuclt to get a withdrawal. In FX, CFD and fintech industries, LimeFx, LimeFx, LimeFx and other 4 companies have announced hiring plans this week. Let us look at what jobs they’re offering and what are the requirements. It is either a trader who opens a Spread bet position or selects to make transactions on CFDs.

Customer support and service

Overall, LimeFx’s MT4 offering doesn’t compete with the Best MetaTrader Brokers. Furthermore, while the Trader Pro platform has several highlights, our testing left us wanting more. This website is using a security service to protect itself from online attacks.

The FSCA became a primary destination amid a trusted regulatory environment, with a time zone equal to continental Europe and English as the primary language. The move by LimeFx displays a deep understanding of the requirements of its traders, and the FSCA license remains a strategic move to ensure it can expand its business. Premium client package, professional account upgrade, and custom-tailored services for high-net-worth clients. Founded in 1965, LimeFx is regulated in one tier-1 jurisdiction, making it a safe broker (average-risk) for forex and CFDs trading.

In addition to full-list LSE fundraising ability, the company can facilitate debt restructuring, buyouts, acquisitions and growth capital financings. And global markets, and it can provide direct access to international initial public offerings and secondary placings. The minimum deposit at LimeFx is an acceptable £100 or a currency equivalent. It is low enough for most retail traders but above that of the most competitive brokers, where it ranges between $0 and $10. New traders can benefit from the ETX Trading Academy, delivered by the Corellian Academy, and an exceptional webinar series.

LimeFx forex brokers reviews

The platform is available for desktop, tablet and iOS and Android mobile devices. LimeFx, launched in 2002 by Monecor as TradIndex, was acquired by a joint venture between the UK-based JRJ Group and the Netherlands-based BXR Group. Following the acquisition, the group decided to rebrand TradIndex into LimeFx.

The user interface of OvalX is a bit unfriendly, and it takes some time to find some information. At the time of this writing, the support on the new website is still not good enough. Upload one of any Identity documents and address documents, then click on ‘Return to trading platform’, where you can add and withdraw funds. The minimum balance required on this account is £100 and you will be required to submit additional documents like a bank statement and an employment letter before your application is approved.

LimeFx Review

In rare cases, we wouldn’t publish our opinion on brokers that were not worth mentioning. After taking a break from putting brokers up to the test, we are happy to rescind, choosing LimeFx (etxcapital.com) as our first review after the break! We opened a demo account about two months ago and then moved to a live account. We traded with them for about a month with real funds in order to assess their service.

If you are a new trader, you can begin with a small trade that fits your financial capability. Do not try to over-leverage your account by dealing with transactions that are more than your wallet. Just as mentioned before, Monecor is the mother company of LimeFx, listed under LSE.

  • OvalX is considered a low risk broker for trading forex & CFDs, based on their regulations by the Financial Conduct Authority , in the UK and by other top financial regulators like CySEC.
  • Upload one of any Identity documents and address documents, then click on ‘Return to trading platform’, where you can add and withdraw funds.
  • LimeFx is a firm that was set in motion into the CFD business fifty years ago.
  • The section makes for an informative read, but the overall value for traders remains minimal.

This software, also known as the platform, is used to execute trades in the Forex market. For card payments, the OvalX minimum deposit is £100; however, there is no minimum deposit requirement for bank transfers. You can deposit to your LimeFx account through a bank or wire transfer, with the deposits processing usually in about 24 hours.

LimeFx Customer Service

You would be told to select your kind of trading platform, which could be MT4, TraderPro. Also, you will select your currency, which could be USD, EUR, or GBP. OvalX is considered a low risk broker for trading forex & CFDs, based on their regulations by the Financial Conduct Authority , in the UK and by other top financial regulators like CySEC. For professional clients, the likelihood of execution is the factor considered first.

These funds will process to your account within 24 hours and it can take 3-5 working days for withdrawals to process. There are two different trading apps available as part of the LimeFx offering. One of these is the MetaTrader 4 app which works on both Android and iOS devices. Their software underwent a makeover in 2017, with a lot of fundamental changes made to allow it to perform better. One of the main changes was changing over from Flash to HTML 5, which makes the whole trading experience a lot more seamless. This software has a number of advanced features which is well suited to experienced traders.

Research and Education

After acquiring Oval Money, the new trading name is now OvalX. If the size of your order is large, it will be filled partially and the degree of partiality varies per execution venue. In a situation where the whole trade will not be filled, there will be an increase in the importance of the size of the potential fill. We could not fully determine from the document if OvalX is an STP or ECN broker. However, we were able to determine that they do not have a dealing desk on the in-house price book. To withdraw money from OvalX, log in to your dashboard, on the top menu, click on ‘Payments’, then select ‘Withdraw Funds’ and follow the on-screen instructions to complete the withdrawal.

Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets. LimeFx’s proprietary trading platform offers a fluid HTML5 interface, which makes it easy for traders to trade across nearly 6,000 tradeable products. That said, a lack of research capabilities remains a significant drawback. To access the tightest spreads and largest range of tradeable symbols , traders should use LimeFx’s Trader Pro platform (don’t bother with MT4).

Analyzing is not difficult with MetaTrader 4 because you got so many options to do it. In Europe, the LimeFx relishes a steady regulatory reputation, but this is not the same in the United States. So, the LimeFx Company is a part of those companies that folded up its services from operating in the US. Note that none of its services or products are transacted with the citizens of the United States.

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