Our Limit Markets review goes into detail about what trading conditions this broker offers and at what price.
The broker is located in Mauritius and holds a license issued by FSC. Since this is an offshore regulator, the regulatory standards are loose.
On top of that, there’s a warning issued against them. For that reason, be advised if you plan to deal with this broker.
| Broker status: | Offshore Broker |
| Regulated by: | FSC Mauritius |
| Scammers Websites: | limitmarkets.com |
| Blacklisted as a Scam by: | SCA |
| Owned by: | Limit Markets Ltd |
| Headquarters Country: | Mauritius |
| Foundation year: | N/A |
| Supported Platforms: | MT4, MT5 |
| Minimum Deposit: | N/A |
| Cryptocurrencies: | No |
| Types of Assets: | Forex, commodities, indices, energies, metals and CFDs on indices, stocks and commodities |
| Maximum Leverage: | up to 1:200 |
| Free Demo Account: | Yes |
| Accepts US clients: | No |
Is Limit Markets Licensed Broker?
Since Limit Markets claims to have HQ located in Mauritius and a license issued by FSC, we had to inspect this.
It appears that Limit Markets does hold a license issued by FSC. The broker is listed in their register of regulated firms. However, the regulatory rules of the offshore brokers differ from those that regulated brokers impose.
Limit Markets is not regulated by a top tier broker like FCA, CySEC, ASIC, IIROC. Otherwise, they wouldn’t be able to offer the 1:200 leverage. Regulated brokers are forbidden from allowing leverage over 1:30 or 1:50 and the bonuses in UK, EU and AU are banned. Segregated bank accounts, compensation schemes and negative balance protection are also obligatory.
If still in doubt, better to choose a broker regulated by a leading financial authority over an offshore broker.
Why Is Trading On a Licensed Broker’s Platform Preferable?
Licensed brokers offer reliable trading platforms with good trading conditions and clear deposit/withdrawal policies. You will always be provided with all the relevant information you seek.
Furthermore, traders investing with authorized brokers can be guaranteed top privacy and safety conditions. Protection of funds is guaranteed and investments are protected from being misused.
So Is Limit Markets a Decent Broker or a Scam?
Limit Markets is an offshore broker regulated by FSC. Countries of service are limited and offshore regulations are loose compared to top tier regulatory standards. Being blacklisted by SCA, this broker should not be easily trusted.
Blacklisted by the UAE Securities and Commodity Markets Authority
The official SCA (UAE) website has issued a public warning against Limit Markets.
Warning clearly states that Limit Markets offers financial services without being licensed by SCA. Also, SCA rejects any responsibility for interaction with Limit Markets as an unlicensed entity.
Limit Markets Offers MetaTrader 5?
Surprisingly enough, Limit Markets gives download links for MetaTrader 5. The download and installation are finished easily.
To use the software though you need to log in with your Limit Markets account. This was deemed impossible as the verification email never came.
Limit Markets Accounts Overview
Limit Markets gives the possibility of choosing between the following account types:
- Free Real Account
- Free Demo Account
- MAM Account
- Rebate Account
- Swap-free Islamic Account
Some options that accounts provide are mentioned, but not the minimum deposit requirement.
Free Real Account
This account type is designed to let users trade 24/5 with leverage of up to 1:200. Competitive spreads with the possibility of them being adjusted to traders needs are mentioned but without details. Depositing and withdrawals are possible 24/6. No fees are charged for that so the account is called Free Real account.
Free Demo Account
Several benefits of Demo Account stand. Traders can buy/sell with virtual funds of $100 000. The advantage is trading without risk, getting to know the environment and building trading strategies. Trading is done on MT4.
MAM Account
The purpose of the MAM account is multiple. MAM means multi-account management and it allows control over all portfolios from a single account. Clients can allocate transactions from master account automatically and save time. Works on MT5.
Rebate Account
Rebate account presents an opportunity to earn twice. This is done by refund amount deposited by Limit Markets. The amount refunded varies depending on your investments and transaction volume. Accumulated savings can be treated as a side income.
Swap-Free Islamic Account
Account type is meant for investors avoiding swap costs because of their religious beliefs. This means that no Swap costs or interest on positions held overnight is paid. Trading is available with several groups of instruments. Platform provided is MT5.
Limit Markets – Countries Of Service
Limit Markets Limited is especially focused on clients from Australia, Germany and Canada. It is very much present in the EU zone. So besides Germany, other European countries are included too. Limit Markets does offer services in countries where they should be regulated but lack the license.
What Is Known About Limit Markets’s Trading Conditions
Trading instruments available at Limit Markets are divided into several asset groups. These include Forex, commodities, indices, energies, metals and CFDs.
EUR/USD spreads start from 1 pips. Possible leverage is up to 1:200.
If there’s any deposit bonuses, Limit Markets doesn’t explicitly explain it.
Limit Markets Withdrawal Terms
Except for the claim that withdrawals are possible 24/6, we haven’t got any other info on the concrete terms. All clients have to fill in the withdrawal form to initiate the process. Legal documents available on the site fail to provide further details.
Licensed brokers are fully transparent and give the relevant trading info. The fact that Limit Markets does not offer all the details necessary makes them suspicious.
Scammed by Limit Markets Broker? – Let Us Hear Your Story
In case you have fallen victim to Limit Markets, please share your experience with us. It can help warn and protect their next potential victim.
We can assist you by reporting your scammer and providing you additional chargeback assistance. Do not feel ashamed of letting others know what experience you’ve had with this broker.
But What Is A Chargeback?
Requesting a chargeback is done after you’ve been defrauded by a broker. Going to your credit card issuer is of crucial importance in the process of getting your money back.
Furthermore it is crucial to further prevent the abuse of your funds. Do not hesitate to contact us and allow us to help you on your way to reporting the scammer and getting your funds back.