Alpha Forex is also registered within Canada by the regulatory body FINTRAC. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits. His clear intention is cheating so he offered fixed monthly returns 5 to 7%. As he said in live, they not informed about losses, they said to close with minimum loss but closed 60% loss, also this MAM account started only one month before not 8 months before.
It uses deceptive marketing tactics and illegal practices to increase its business. While this is not necessarily an issue, very careful traders might want the extra safety of using an FCA-regulated broker. The broker also fails to mention any payment methods, processing times for withdrawals and additional withdrawal information. Also, there is a clause in the broker’s terms and conditions which suggests that the company has no regard for its users’ funds.
- This means that LimeFx falls under the regulation of a jurisdiction that can hold a broker accountable for its misconduct, or at best, play an arbitration role in the event of larger disputes.
- The main office of Alpha FX is in London but the company also has offices in Malta for EU trading and Vancouver for Canadian clients.
- It is reputed as the best trading terminal in the forex industry as it offers over 80 indicators, chart management features, and more.
Given that it provides more than 80 indicators, chart management tools, and other features, it is often regarded as the greatest trading terminal in the forex market. The fact that LimeFx is not regulated by our own FCA will be a concern to the most careful traders. Like most other shady forex brokers, LimeFx relies on charging various hidden fees to get its revenue.
See our list of brokers that accept PayPal for alternatives. All of this suggests that it would be best for you to avoid LimeFx and find a different forex broker. Surprisingly, LimeFx doesn’t specify any minimum deposit requirement on its website. This is quite suspicious as well because this isn’t only technical information they have refrained from sharing with users. Our team speak over 30 languages, work with clients across more than 50 countries, and operate from 8 international offices.
After signing up, I received information about the demo account via email. I have a virtual deposit of 100,000 USD to learn how to trade. I can also have full access to the MetaTrader 5 platform.
The stipulations in its terms and conditions, however, even though it has a license, imply that it is nothing more than a swindle. This is a sneaky way to trick consumers into paying hidden costs. The business has the option to charge commissions for the execution of legal papers.
Does Alpha FX Offer A Demo Account?
There is currently no mobile trading app for Alpha FX clients. Orders and accounts can be managed through its secure, browser-based portal. Alpha FX does not disclose any trading costs and fees as each client is dealt with on an individual basis, with services based on their specific trading needs. Upon application, a representative will be able to offer values for spreads and commissions, case-by-case. These types of scammers only spoil the whole forex industry name.
Interestingly, LimeFx supports the MetaTrader 5 trading platform, but not the hugely popular MetaTrader 4 predecessor at this point. At LimeFx, you get to use the renowned trading platform MT5. It is reputed as the best trading terminal in the forex industry as it offers over 80 indicators, chart management features, and more.
On the other hand, there is no guarantee of a broker’s dependability if it is not regulated. IG Index – IG offer spread betting, CFD and Forex trading across a range of markets. They are FCA regulated, boast a great trading app and have over 47 year track record of excellence. Our LimeFx products and services are not suitable for everyone.
Additionally, they have the right to add daily interest to all payments that are past due. Unexpectedly, LimeFx Brokers’ website makes no mention of a required minimum deposit. The fact that they have withheld non-technical information from users makes this situation even more suspicious. Here, you can trade equities, futures, stocks, commodities, FX pairs, ETFs, and ETFs. English, Tamil, Filipino, Vietnamese, Indonesian, and Arabic are all available on the LimeFx Brokers website. This company does not appear to be regulated by any government authority at this time.
However, the broker’s consulting staff and customer support are only available during regular office hours. Alpha Forex is a reputable international forex broker and payment management provider, listed publicly on the FTSE AIM 100. Alpha FX does not present its supported payment methods for deposits and withdrawals. However, being a firm with a focus on international payment capabilities, the broker will likely support transactions in a wide range of currencies.
FOREXLIVE™ expressly disclaims any liability for any lost principal or profits without limitation which may arise directly or indirectly from the use of or reliance on such information. As with all such advisory services, past results are never a guarantee of future results. The broker does not limefx charge any deposit or withdrawal fees but the research and education material is quite limited, although the content is valuable and frequently updated. Alpha FX, or Alpha Forex, is a currency trading and global payment specialist based in the UK, offering advanced access to the forex market.
In our review we gave LimeFx a low trust score of 30%, which means that traders should try things out before they deposit any larger amounts. One of the main negative factors in this low score is that LimeFx is not FCA regulated. Extra careful traders might want to find an alternative in our top list of UK brokers. While the registration process is quite simple, we only opened a demo account because a live account required several identification documents. We succeeded in finding a trading terminal even though the leading user dashboard didn’t have a dedicated client area. Alpha Gold Futures is a regulated Forex broker, providing traders with access to the global Forex market through top tier FX liquidity providers.
Alpha FX Verdict
Head to the broker’s website for a full breakdown of trading hours, including upcoming holiday breaks and market closures. The positions of their clients will occasionally close out as a result of them running for those stops. Luckily, many broker shenanigans, though not all, are seen as archaic.
You should choose a forex broker that is registered with a regulatory agency. Seek out brokers who are NFA members and registered with the CFTC as Futures Commission Merchants . Be cautious of brokers who are not subject https://limefx.vip/ to CFTC or NFA regulation. It’s critical to confirm a forex broker’s regulatory status before thinking about working with them. You can be sure of a broker’s credibility if it has a regulatory authority license.
I challenge if you really have skill, I will give you one well regulated broker account, try to show same profit. This broker is relatively new, it was established in 2016 with its headquarters in Seychelles. It’s suitable for retail traders as well as institutional investors. LimeFx a registered brand name of Gulf Brokers Ltd – FSA regulated company. MetaTrader 5 is a secure online trading platform, which provides SSL encryption security on data exchanges and also allows two-step verification at the trader’s choice.
The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the LimeFxpanies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We have partnered with a deliverable FX institution so our clients can benefit from low exchange rate fees when receiving profit withdrawals in their domestic currencies. If you are a trader who can demonstrate an ability to react to the markets, manage risk and, most importantly, generate profits, then we are looking for you to join our community of traders. Over all the broker is trust worthy and I do know of others I work with that also trade with this broker and they seem to be doing fine. Platform options are standard they do offer a bunch, spreads are reasonable and I can say they are the lowest but they do work fine for scalping.