What is ILimits Invest？
ILimits Invest, an online trading platform registered inin Dubai, offers its traders a variety of trading options including Forex, stocks, energy, metals, commodities and cryptocurrencies. However, the broker's current regulation status is FSPR exceeded, which prompts questions about its credibility and adherence to industry standards.
The following article offers a comprehensive review of ILimits Invest, probing various facets of its service offerings. We strongly recommend interested traders to peruse this entire review for garnering a balanced viewpoint. The review concludes with a succinct summary, encapsulating the key features of ILimits Invest for convenient reference.
Pros & Cons
For advantages of this broker, the availability of multiple instruments allows traders a chance to diversify their portfolios and invest in a variety of markets. Its competitive low starting spread from 0.1 pip presents a cost-effective trading environment and can improve the potential profitability of trades. The internationally recognised MT4 trading platform eases the trading process with its globally accepted standards and tools.
With a reasonable minimum deposit requirement at $10, iLimits makes trading accessible to both novice and seasoned traders alike. Free of deposit/withdrawal fees further lower transaction costs for customer. For beginners and those wishing to test their strategies, the provision of a demo account is beneficial. Moreover, security measures such as margin calls and stop-loss orders contribute to a safer trading context by safeguarding traders from significant potential losses.
Conversely, iLimits has several drawbacks. Being FSPR exceeded means it doesn't conform to the guidelines of governing bodies, which raises credibility issues. The presence of negative customer reviews can result in concerns over the broker's service quality and functionality. Also, their policy of not accepting clients from certain countries such as New Zealand restricts the brokers global reach, reducing potential client diversification. These cons could dissuade prospective traders from choosing iLimits as their broker.
Is ILimits Invest Safe or Scam？
When considering the safety of a brokerage like ILimits Invest or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a brokerage:
User feedback: There is a report about unable to withdraw on WikiFX, which severely questions the broker's reliability. This serves as a serious warning for anyone considering their services and urges utmost caution.
Security measures: The broker prioritizes trading security by implementing measures such as a 'Margin Call', a warning when your account balance falls below the minimum requirement, and 'Stop Out', which automatically closes positions to prevent further losses.
In the end, the choice to trade with ILimits Invest is a personal one, requiring a thorough assessment of the advantages and disadvantages before making a final decision.
Market Instruments
Ilimits Invest provides a variety of market instruments, allowing traders to engage in various financial markets.
The platform supports trading in forex, offering a wide array of over 50 major, minor, and exotic currency pairs.
The inclusion of stocks provides opportunities for investors to participate in big company's growth and profitability.
Energy products, such as oil and natural gas, are also available for trading, allowing investors to participate in the dynamic energy markets.
Furthermore, precious metals like gold and silver are part of the broker's offering, meeting the needs of those who seek to invest in assets with intrinsic value and hedging potential.
Alongside above, they also offer commodities, which usually include raw materials and primary agricultural products, providing an avenue for investors to speculate on the price movements of these tangible assets.
Additionally, cryptocurrencies are for digital asset enthusiasts who are interested in exploring this modern and fast-growing area.
Account Types
Limits offers a variety of account types to meet diverse trading needs.
First and foremost, a demo account is available for those who would like to familiarize themselves with the trading practices without having to lose real money.
While for live accounts, the broker provides the option for an STP (Straight Through Processing) account which facilitates direct market access and transparent trading.
The ECN (Electronic Communication Network) account offers the ability to trade in a liquidity pool of regulated financial institutions. This type is often preferred by bigger traders for its full transparency, faster execution, and lower spreads.
Additionally, they offer Islamic accounts which are structured in accordance with the principles of Islamic law pertaining to business and investments, free from interest，making them suitable for Muslim traders.
Irrespective of the account type chosen, all accounts come with a minimal deposit requirement of only $10, making trading accessible for all scale of investors.
How to Open an Account？
Visit the Ilimits website.
Step1: click the “Register Now” button located on the homepage.
Step2: Fill out the relevant information and complete the sign-up process.
Step 3: You will also be required to submit identification documents for verification according to KYC (Know Your Customer) regulations.
Step 4: Once the broker has verified your details, you'll be able to deposit funds and start trading.
Leverage
Ilimits Invest offers a maximum leverage of up to 1:1000 for forex trading. Leverage allows traders to control a larger position size with a relatively smaller amount of capital. While leverage amplifies potential profits, it also increases the risk of significant losses. Therefore, you should implement risk management strategies when utilizing leverage to ensure responsible and informed trading practices.
Spreads & Commissions
iLimits Invest offers competitive trading conditions across its range of account types.
For both the STP and Islamic accounts, the broker offers spread starting from 1 pip, making it a relatively cost-effective choice for traders. One of the key advantages of these accounts is that they do not charge a commission, which means traders can execute trades without incurring extra charges.
On the other hand, the ECN account, known for its direct access to the market's liquidity pool, offers an even lower spread starting from 0.1 pips. While this account type does charge a commission, the rate is a transparent and manageable $10 per lot, ensuring traders are aware of the costs associated with their trading activities.
Trading Platforms
iLimits provides its clients with a variety of trading platforms to clients.
First and foremost is the globally recognized MT4 platform that is available for use on Windows operating systems. The MT4, lauded for its intuitive interface and trade management options, allows simplified analysis and order execution. Additionally, for users on the go, iLimits provides the MT4 platform for iOS and Android version. These mobile platforms ensure that traders have access to the market anytime, anywhere.
They also offer the iLimit Web Trader, a browser-based platform for forex trading featuring deal cancellation, freeze rate, inside review and heat map, perfect for forex traders who prefer online trading. And it allows clients to trade directly from their browser without the need for any downloads or installations.
Copy Trading
iLimits enhances its service offerings by allowing for copy trading. This feature enables users, particularly beginners, to mimic the trades of successful investors, leading to potentially better investment results.
By leveraging the strategies of experienced traders, users can learn and adapt to different trading styles. This not only helps in understanding market trends better but also serves as a stepping stone for new traders to build and fine-tune their own strategies. The copy trading facility has emerged as a popular trading tool given its dual advantage of potential profits and learning enhancement.
Deposit & Withdrawals
iLimits offers straightforward methods for managing your account.
Deposits can be executed either by telegraphic transfer or through Neteller via the mobile application, or via PaySec on the website. For withdrawals, transferring funds will be back to the point of origin.
It's noteworthy that while iLimits does not impose deposit or withdrawal fees, all regulatory minimum margin maintenance requirements must be adhered to by retail clients with open positions. Additionally, any withdrawal fees charged by the payment channel will also be borne by the user.
User Exposure on WikiFX
On WikiFX, a significant report regarding unable to withdraw raises serious concerns and serves as a cautionary signal to traders. We strongly recommend that traders carry out a comprehensive review of all relevant details before making a decision. Our platform is designed to serve as a crucial resource in your trading journey. If you should ever encounter any fraudulent brokers or have personally experienced such malpractices, we strongly urge you to report it in our “Exposure” section. Your contributions are invaluable in helping us achieve our mission, and our expert team will make every effort to respond to your concerns promptly.
Customer Service
Ilimits Invest offers accessible customer support via email, phone, physical address and live chat.
Moreover, social media accounts including WeChat, Telegram, WhatsApp and Skype are also maintained as modern and supplementary channels. There is also an FAQ section for general question answering.
Email: info@ilimitsinvest.com. (Working hours: 24/5)
Phone: +971503721960. (Monday-Friday from 8 am to 5 pm)
Address: Trade Center Sheikh Zayed Rd. 2nd floor, ASPIN commercial tower.
Conclusion
In summary, ILimits Invest, based in Dubai, provides diverse market instruments. Despite offerings in Forex, stocks, energy, metals, commodities and cryptocurrencies, the FSPR exceeded regulatory status is a notable concern. We recommend you to approach this broker with utmost caution, start with smaller initial investments and choose platforms with transparency and regulatory compliance for sound risk management if possible.
Frequently Asked Questions (FAQs)
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
2024-07-17 18:16
2024-06-21 17:34
