This precautionary measure prevents unauthorised third parties from withdrawing funds, even if they manage to gain access to a user’s account. Additionally, LimeFxFX employs the 3D Secure technology for credit and debit card processing, providing heightened transparency and safety for all Visa transactions. Because that way, they believe they can provide better trading conditions and stay on top of the competition. This often results in clients turning to brokers with a more diverse range of instruments, better conditions, a copy trading service and appealing promotional offers. Those are most usually international brokers providing Forex trading services.
- Since LimeFxFX doesn't engage in options, forward, or futures trading, it adheres to the Islamic finance principle prohibiting gharar.
- Malaysian traders at LimeFxFX are registered under offshore regulation, so you are trading at your own risk.
- However, some orders may fail to offset or LimeFxFX might choose not to upset them.
- ForexBrokers.com also recognized brokers that demonstrated excellence and innovation with our exclusive Industry Awards.
- So ensure you are fully prepared before depositing your funds and starting investing or trading in the financial domain.
Traders outside EU can not trust LimeFxFX and should choose another forex broker instead. LimeFxFX is a forex broker that offers competitive spreads, flexible leverage, and copy trading. They offer forex trading and CFDs on indices, cryptos, metals, and energies through MT4 and MT5 platforms. MT4 and MT5 mobile trading platforms can be downloaded on mobile and tablets of Android and iOS operating systems. Apart from MT4 and MT5, no other trading application is supported at LimeFxFX.
Is LimeFxFX legal in Malaysia?
The bespoke software enables users to track master traders and their live performance, control portfolios on the go, view how their funds are invested and manage risk in real-time. Yes, LimeFxFX facilitates efficient withdrawals in Malaysia through a diverse array of options, which include local banks, Mastercard, Visa, Skrill, Neteller, and various payment processors. Additionally, the broker supports a wide range of cryptocurrency methods to cater to different client preferences and needs. LimeFxFX.com supports MetaTrader 4 and 5, two of the world's most popular trading platforms. If you're new to trading, we suggest using MetaTrader 5, because it supports a wider range of instruments, order types and time frames for your charts. In exceptional cases, money may be paid into the winner's trading account or bank account to substitute the prize.
- For our top picks among trading apps, read our guide to Best Forex Trading Apps.
- LimeFxFX can be chosen to trade CFDs in Malaysia but the clients are registered under offshore regulation.
- If you suffer a loss from an unsuccessful trade, any negative balance that accrue in your account will be reset to zero and you will not need to deposit any money to clear the negative balance.
- This means your orders are transferred to interbank liquidity providers.
The broker's policy of matching payment details for deposits and withdrawals effectively deters unauthorized third-party withdrawals. LimeFxFX's state-of-the-art 3D secure technology for credit and debit card transactions adds an extra layer of security for Visa transactions. LimeFxFX features negative balance protection for all trader’s account types, which means customers cannot lose more than the money they have in their trading account in case a position is not successful. If there is any negative balance from an unsuccessful position, the account is reset back to zero balance. This extremely low number suggests Malaysian investors simply lack opportunities and options for investing in the international financial markets.
Halal or Haram? A Close Look at Forex Trading and LimeFxFX in Malaysia
Note, accounts are automatically deactivated if you never deposit or sign in to them. There are, however, minimum withdrawal limits for all payment methods, though these are minimal, including $5 for Skrill and Neteller. Both authorities (BNM and SC) clarify that inclusion in the alert lists is primarily intended to raise awareness about entities lacking licences or regulations under their jurisdiction. It is essential to note that not all companies listed are fraudulent or involved in scams. In fact, many of them, including LimeFxFX, possess multiple international licences and incorporation documents that permit them to serve clients globally. The lists merely indicate that these entities are not licensed in Malaysia.
Can LimeFxFX be Trusted?
On LimeFxFX’s website, you can find their execution policy under their ‘customer agreement’ section. Here is a summary of how the forex broker handles https://limefx.group/ your orders. After choosing a Master Trader, the Copiers are all set to copy their trades and benefit from the expertise of professional traders.
Islamic Accounts Offered by LimeFxFX
They are not regulated by any top-tier regulatory authorities like FCA, FSCA, or ASIC. All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Generative AI tools are not a part of our content creation or product testing processes.
At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research and detailed forex guides, and limefx review we monitor dozens of international regulator agencies (read more about how we calculate Trust Score here). CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs with this provider.
How Do I Delete My LimeFxFX Trading Account?
A person (hereinafter—‘Participant’) must have an LimeFxFX real account to take part in the contest. Evidently, LimeFxFX has stopped working with all of those celebrities, as there haven’t been any new promotional activities with them for quite a long time now. As for now, no new Malaysian influencers are working with the broker. It is unclear if it’s illegal for LimeFxFX to work with them only because it is included in the alert lists. Bank Negara Malaysia (BNM) added LimeFxFX to the Financial Consumer Alert List (FCA) along with several other brokers.
This includes international bank wire transfers for citizens of Thailand, India and Nigeria, for example. Both platforms are suitable for beginners, though our experts note that MT5 offers more advanced trading features. This broker can be a good choice for you if you live within the EU and are satisfied with its limited selection of tradeable assets.
For currency pairs, one standard lot has 100,000 units of the base currency. A decent number of financial instruments are available to trade at LimeFxFX in Malaysia. Clients must note that all the available financial instruments at LimeFxFX are traded in the form of a Contract for Deposit (CFD). Traders at LimeFx can choose between MT4 and MT5 web traders for trading through any browser. For desktop devices, traders can trade on MT4 and MT5 web traders through their regular web browsers.
Yes, you can open an account with LimeFxFX.com if you live in Singapore. We recommend you can try the broker after researching their site and chatting to with support to answer any questions you may have. The number of tradable instruments on LimeFxFX is few, which means they may not have some instruments that you want to trade. You can learn more about the bonus and the rules that apply in the promotions sections of the LimeFxFX website.
Please note that the answer to this question might depend on where you live. LimeFxFX is an award-winning forex and CFD broker, founded in 2011. The Cyprus-based entity is regulated by the CySEC while the offshore branch is registered with SVGFSA.