However, for the past year, the list of strategies has been fairly stable and quite a few now have almost 2 years of historical data available. Still, as always, past results are never a guarantee of future success. Nonetheless, it’s very positive that they all invest significant amounts of their own money. As mentioned we had some issues with setting up the SuperTrader account.
This is part of LimeFX’s standard risk management procedures in order to protect their clients’ funds. They begin trading regularly again in January ones they deem conditions have returned back to normal. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted.
Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence. This website is free for you to use but we may receive commission from the companies we feature on this site. Notwithstanding any such relationship, no responsibility is accepted for the conduct of any third party nor the content or functionality of their websites or applications.
- After signing up, you may also receive occasional special offers from us via email.
- We don’t mind paying a fee for profits made and believe this approach is very fair.
- LimeFX SuperTrader has approached this from the latter perspective, and there are very limited social interaction features offered on desktop or mobile aps.
- So if you allocated $500 and the strategy’s equity is $5,000, when the leader opens 1 lot, in your account 0.1 lot will be opened.
- If you have been scammed, check out our ChargeBack process here or get a Free Consultation by a team of expert by clicking here.
With such lack of information and LimeFX International being offshore, funds are not safe. A red flag that we noticed is LimeFX International is withholding vital information to users. Problem with offshore brokers is that they are not reliable and abuse the regulations. Make sure to stay away from this broker as they are anonymous and that they can disappear any time without notice.
The system removes strategies when their performance falls below certain thresholds or they fail to comply with their risk criteria. In summary, LimeFX SuperTrader is a social investment platform for more serious investors. It’s not for people looking to play with $50 or $100, but invest $10,000 upwards. The interface is pretty intuitive and all the data is fully transparent. LimeFX also pre-selects the strategies and monitors them actively. In the beginning, the list of strategies available on SuperTrader changed quite a bit.
LimeFX SuperTrader Strategies As mentioned above, the main aim of SuperTrader is to give investors access to “experienced” Fx traders. On LimeFX, these “leaders” are either corporate entities or individuals that act as strategy providers and send their trade signals in real time through SuperTrader. It’s important to note that all leaders send their signals from “live” trading accounts, so they all risk their own money as well.
Supertrader Risk And Money Management Features
However, for most investors, the performance graphs and historical statistics available will be more than enough to make informed decisions to pick strategies which match their risk profile. In addition, all historical trades can be downloaded in Excel, which is very useful if you want to do your own off-line analysis. Experienced traders will have access to LimeFX’s database of over 200,000 clients. They receive 5% commission on each profitable trade made in their followers’ portfolios. In order to become a strategy provider, traders need to undergo a strict application process. It includes questionnaires, interviews and testing of their strategies.
In this review, we will describe why your funds are not safe with LimeFX International. After signing up, you may also receive occasional special offers from us via email. We will never sell or distribute your data to any third parties. “Trailing Stop %” is similar to the previous stop, but takes into account gains as well, so you can lock in profits.
Networks of LimeFX SuperTrader is exclusively available to LimeFX clients, you first have to open a normal LimeFX account. However, it’s important to note that SuperTrader accounts currently can only be in USD. Hence, if you’d selected another base currency for your main LimeFX account and vault you actually end up going through 2 unnecessarily currency conversions if you fund your account in USD.
I found the support we received via e-mail and from our account manager very good. Unfortunately, the support from the callback feature can only be described as incompetent and useless (“Stating a problem does not resolve the problem.”). Their response seemed to be scripted so better use e-mail or your account manager.
LimeFX International Review
LimeFX International is an offshore broker, your funds are not safe. If you have been scammed, check out our ChargeBack process here or get a Free Consultation by a team of expert by clicking here. Currently, there are over 30 strategies you can review and copy. The difference is pretty obvious, meaning that the SuperTrader strategies listed as LimeFX have been developed “in house” by LimeFX, while the Third Party strategies are created by Leaders outside of LimeFX.
In fact, it’s fair to say that LimeFX SuperTrader is fully transparent, even including the actual USD gains/losses. It’s also important to note that from 5th May 2014 (i.e. after we opened our accounts) LimeFX increased for new customers the minimum equity you need to have in your SuperTrader account to $50,000. Alternatively, you can deposit $10,000 Institutional investor and use their credit line to get your equity up to $50,000. On October 13th 2014 they changed this again, reducing the minimum investment amount to $30K and the credit multiplier to 2. So this also means that with a minimum deposit of $10K you still meet the new minimum using the credit multiplier of 2 ($10,000 deposit + $20,000 credit).
Final Thoughts On LimeFX Supertrader
All traders also need to send their strategy signals from a live trading account (i.e. real-money). Until June 2015, investors were also able to rate the strategies they followed. In our opinion ratings were a good addition since it provided feedback from real customers who were copying or copied the strategy with “real” money. Hence it’s a slight disappointment that the ratings got removed. “Social Trading” covers everything from sharing trade ideas with others to automatically copying trades from others without having to do any technical analysis. LimeFX SuperTrader has approached this from the latter perspective, and there are very limited social interaction features offered on desktop or mobile aps.
As an investor, you have access to a list of LimeFX approved strategies (i.e. traders). You also have access to their historical performance indicators, closed trades and currently open trades. When you choose to copy a strategy, you also decide how much to invest using SuperTrader’s risk management controls. Each copied strategy will automatically trade on your behalf in your account.
That way, investors can analyse the past performance and make a decision on which traders to copy. We received an email saying that one of the SuperTrader strategies we were following got closed because due to poor risk management strategy. This actually wasn’t even a bad performing system and we’d already made about 20% in 4 months. Because LimeFX closed the system before exponential losses accrued, we still ended up making 10%. On other social trading platforms, we’ve seen profits disappear to 100% losses with some traders .
FAQs and help guides are available and their “LimeFX SuperTrader User Guide .pdf” is probably the most detailed and useful we’ve seen among the social trading platforms. The lack of a demo account, on the other hand, is disappointing since it’s always nicer if you can try something before you invest “real” hard cash. From the SuperTrader strategies page, you can compare all strategies using key parameters like “average weekly returns”, “maximum drawdown” and “investor rating”. SuperTrader Strategy Performance Stats Example It’s not the most comprehensive list of statistics (e.g. average trade duration, numbers of copiers and FX pairs traded historically would be nice additions).
From our experience so far on SuperTrader, this is also the case. We notice some slippage but on average 1 pip or less per round trip (i.e. open and close together). Example of SuperTrader strategy performance graphs With any social trading and trade copying service review, it’s important to look at the data and features.
According to a report from Finance Feeds, the service was shut down in 2017 after “several months of review”. By completing this form I understand that I am going to be redirected to a 3rd party trading partner and that my personal information will be shared. If you are at an office limefx forex brokers reviews or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices. If you are on a personal connection, like at home, you can run an anti-virus scan on your device to make sure it is not infected with malware.
So far our best results have come from copying some of the third party ones. To make sure you are dealing with a regulated and known broker, you should be able to find easily who is the CEO of this brokerage firm, who is running it etc. Lack of information is a big red flag since you don’t know who will be dealing with YOUR MONEY. This is the reason why your funds are forex news not safe with LimeFX International. “Strategy Maximum Loss %” you allow before you want all trades to be closed and to stop following the strategy (between 5 and 30% allowed). If you try to find information about this tool, you’ll find an official report indicating that was discontinued. We’ve checked LimeFX website on January of 2019 and it hasn’t been reactivated.
We don’t mind paying a fee for profits made and believe this approach is very fair. An argument can be made that the fee should be based on your account’s high water mark, but from our experience, this seems to push certain trader’s into high-risk approaches when they try to recover from large losses. Overall the costs of LimeFX’s SuperTrader are low compared to other similar services.
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A hyperlink to or positive reference to or review of a broker or exchange should not be understood to be an endorsement of that broker or exchange’s products or services. Once you’re following strategies you can follow the performance of your account in real-time, and if you like, can manually close any trades which were opened by a strategy. “Amount Allocation in $”, which is how much of your account you want to allocate to the strategy (the minimum amount is $500 though a few strategies may require a higher amount). So if you allocated $500 and the strategy’s equity is $5,000, when the leader opens 1 lot, in your account 0.1 lot will be opened. Current open trades are displayed too and all data is updated real-time.