Regulated Broker

If the broker offers smooth and regular withdrawals then things are good else you might face different issues later on. It is better to pay attention to the withdrawals from the very start. There are several incidents where brokers try to make lame excuses to avoid paying the traders. Ensure that the trading platform is a designated contract market by checking the Commodity Futures Trading Commission’s Designated Contract Markets website.

The relevant facts are geared towards uncovering any issues or complaints reported by the traders. Mrs. Rukayat and @biinomo are just two of many similar Instagram, Twitter, Facebook, LinkedIn, and TikTok accounts. Usernames often begin with “Mrs” and include platforms like Binomo and LimeFX in their LimeFXpany reviews names (eg, “mrs_aisha_binomo_trading_44”). The accounts assure visitors that they are not scammers, and use phrases like “Trade with profit and no loss.” They generally have 1,000 to 6,000 followers, but some have more than 10,000. Brokerage firms offer more than just a place to place trade orders.

LimeFX

Screenshot of a WhatsApp exchange tweeted by a now-suspended account. If you are at an office 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.

• The minimum deposit to open an account is only 10 USD, and minimum trade amounts are 1 USD.
• Ensure that the trading platform is a designated contract market by checking the Commodity Futures Trading Commission’s Designated Contract Markets website.
• Nelly Agbogu is a woman who has been especially vocal about the scammers, because photos of her and her family have frequently appeared as profile photos on Binomo accounts.
• Check out the registration status and background of any firm or financial professional you are considering dealing with.
• A detailed LimeFX review must discover the complaints that are reported against the broker.
• Also, they offer binary options on forex, commodities, indices, stocks, and cryptocurrencies.

Also, they offer binary options on forex, commodities, indices, stocks, and cryptocurrencies. When investing in binary options, most brokers allow traders to predict either a price increase or decrease. The presence of only two options is why they are called binary options. The broker enables investors to predict that an asset will remain the same in price, effectively creating trinary options.

Is LimeFX Scam Or Legit?

And those numbers only reflect victims who reported being fleeced to the IC3—the true extent of the fraud, which has victims around the world, isn’t fully known. Some European countries have reported that binary options fraud complaints now constitute 25 percent of all the fraud complaints received. The review of any broker must focus on discovering the issues and complaints reported by the previous traders. Did any trader file a complaint against a broker regarding scam or fraudulent activity? A detailed LimeFX review must discover the complaints that are reported against the broker. The essence of this review is to concentrate on the relevant facts.

An unregistered offshore binary options broker can be challenging to negotiate with when trying to recover lost funds. Offshore brokers often obscure communication details, and the actual ownership and location of the broker can be hard to find. If you’ve lost money investing in binary options with LimeFX or another broker, contact us today, and our team will evaluate your potential options. An honest review about the broker will never skip the withdrawal processing.

And if the stock doesn’t perform well, the investor knew the risk. LimeFX doesn’t charge commissions or charge many of the standard fees that other online brokers do. Their primary revenue stream is from the spreads on their binary options.

Thousands of entities promote binary options trading in the U.S., but only two are currently authorized to do so by the CFTC. But here’s another similar-sounding financial term that the public should be wary of—binary options. And many of those unregulated cryptocurrency brokers websites are being used by criminals outside the U.S. as vehicles to commit fraud. Recently a scam Binomo account hacked into the personal and business Instagram accounts of Yemi Adewoye, a Lagos-based researcher who identified this scam.

The minimum deposit to open an account is only 10 USD, and minimum trade amounts are 1 USD. This low entry requirement is highly attractive to inexperienced traders who might not understand what binary options are and why they should avoid them. LimeFX is one of the most prominent binary options brokers on the market today. Founded in 2014, the firm has over 25,000 clients and processes 32 million trades each month. Most major financial regulators forbid the trading of binary options.

LimeFX is a member of the Financial Commission, also known as FinaCom. This is a self-regulating agency that does not have the authority of the FCA or CySEC to resolve disputes and levy fines against brokers. Therefore, this arrangement means that the company is virtually unregulated and unmonitored.

It is always better to study the brokerage platform details so that you are ready to avoid any possible issue. Across the platforms, Nigerians constantly call out these accounts as scammers. Roughly half of the mentions of Binomo on Facebook, Twitter, and Instagram are people warning social media users about the fraudsters, or requesting that the platforms take action. Nelly Agbogu is a woman who has been especially vocal about the scammers, because photos of her and her family have frequently appeared as profile photos on Binomo accounts. Nelly shared 50 Instagram and Facebook accounts with SIO that she had previously reported to Facebook for impersonation. She showed us automated responses saying the fake accounts are under investigation, but enforcement has been incomplete – when we investigated the accounts, 28 of them were still live.

Report A Trading Scam And Trace Bitcoin!

It says its email is , an email address linked to this Facebook account. The first and most important thing is to seek professional Risk arbitrage help if things are too complicated for you. Fund recovery specialists can help you to decide if your broker is a scam or legit.

Fund recovery specialists always suggest the traders investigate the broker before making the deposit. Although fund recovery specialists can help you to get the funds back it is always a good idea to investigate the broker from the very start. @Biinomo acknowledges the existence of scam Binomo accounts, but reassures people that this account is legitimate. Phemex is a professional and trustworthy global cryptocurrency and derivatives trading platform.

Make sure that the binary options trading platform you’re interested in has registered its offer and sale of its products with the SEC. . To do this, you can use the Security Exchange Commission’s EDGAR Company Filing website. Representatives of binary options websites may falsely claim that the government requires photocopies of your credit card, passport, driver’s license, utility bills, or other personal data.

What Can You Do To Avoid Being Victimized

Fraudulent binary options website operators go to great lengths to recruit investors. They advertise their platforms—often on social networking sites, various trading websites, message boards, and spam e-mail—with big promises of easy money, low risk, and superior customer service. Potential investors are also cold-called from boiler room operations, where high-pressure salespeople use banks of phones to make as many calls as possible to offer “once-in-a-lifetime” opportunities. LimeFX calls their binary options “Fixed Time Trading,” referring to the fixed amount of time set when investing in binary options.

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In order to appear more credible, the Pages list Nigerian phone numbers, and in some cases Nigerian or foreign addresses. One of the larger Pages SIO discovered, Binomoinvestment001 , originally bore the name of a Nigerian actress, only to be changed to “Binomo Investment option” in April 2020. Download the Phemex mobile App to trade crypto and trade derivatives on the go. Enjoy 24/7 access to dynamic market data, accurate K-line patterns, and user-friendly indicator customization. LimeFX has been in operations for long enough to collect some form of feedback from its clients.

You will see the best services and amazing features on their site. But when you get started with the broker, things start getting ugly. The broker starts creating issues and you feel like losing your money. The best way to avoid this situation is to invest some time reading the LimeFX review that might help you to make the right choice. Most of the traders don’t research the pros and cons of the broker so they end up being scammed by the broker.

Check to see if the trading platform itself is registered as an exchange at the SEC’s Exchanges website. Refusal to credit customer accounts or reimburse funds to customers. This is usually done by cancelling customers’ withdrawal requests, ignoring customer phone calls and e-mails, and sometimes even freezing accounts and accusing the customers themselves of fraud. In addition to the $3,000 threshold, firms like LimeFX will overwhelm users with paperwork before permitting withdrawal, or simply block their accounts without cause. When Yemi’s friends asked questions, the hacker assumed Yemi’s identity and assured her friends that the investment opportunity was real. The instagram account @biinomo, linked to the Facebook profile on the right.

The hacker additionally gained access to her Gmail account and deleted the password-change email Instagram sent when that account was compromised. The hacker assumed her identity and posted screenshots in which she appeared to be encouraging her followers to invest with “Binomo Investment”, touting large returns. The post directed people to the Instagram account @mrs_rukayar_binomo_uption. Several of Yemi’s friends commented on the post, asking if it was real; the hacker pretending to be Yemi said yes. It’s a pretty common investment term meaning, in general, that one party sells or offers to another party the opportunity to invest by buying a particular stock at an agreed upon price within a certain period of time. All perfectly legal and highly regulated—and if the investor takes advantage of the opportunity and the stock performs well, there’s money to be made.

It is advised not to make any investment decision without reading LimeFX review or verdict from professional fund recovery specialists. The first step is to review whether there are any complaints reported against the broker. As a second step, one should dig deeper into the issues and find out if they involve unethical trading activities, unsatisfactory financial settlements, or corrupt client relations.

A quick check will show that there have been no reports from any trader complaining about unsatisfactory financial settlements or fraudulent activities. This implies that the broker has a clean track record in this regard and this is a positive indication about their operations in general. If you can’t explain the investment opportunity in a few words and in an understandable way, you may need to reconsider the potential investment. Yemi sent a message to , but received a response that the email was no longer active. Yemi then followed the steps Instagram outlines to regain control of one’s account in the absence of that email, but they did not bring her to the advertised “request support” form.