Note: Limbo Finance's official website: https://limbofinance.ltd/ is currently inaccessible normally.
Limbo Finance Information
Limbo Finance is a newly founded brokerage company who started business since 2023 only and targets primarily to traders in Germany, Armenia, Czechia, and Romania. The broker claims to offer more than 500 market instruments including forex, stocks, commodities and indices. Minimum deposit is a little high at $250 and trades can only be executed on a simplistic web-based platform.
The inaccessible website gives very limited useful information to obtain. What makes matters worse is that the broker currently operates with no valid regulation.
Is Limbo Finance Legit?
The broker operates without any valid supervision from any regulatory authorities. It raises a question about its legitimacy and credibility because regulated brokers usually adhere to strict industry standards to protect customer funds.
Downsides of Limbo Finance
Unavailable website: Limbo Finance's website cannot be opened currently.
Regulatory concerns: The company operates without any regulations, meanig that it does not comply to rules from any regulatory authorities. This heightens trading risks with them.
High minimum deposit: Limbo Finance's minimum deposit is set at $250, relatively high comparing to reputable brokers who usually requre below $100.
No reliable trading platforms: The broker only offers a very shabby and simple trading platform with very limited functions.
What Can I Trade on Limbo Finance?
Limbo Finance boasts a wide range of over 500 market instruments in mainly four asset classes:
Forex: Forex trading involves the exchange of global currency pairs, allowing traders to profit from price fluctuations. Limbo Finance offers popular options like GBP/USD, EUR/USD, and AUD/USD.
Commodities: Commodities are basic goods used in commerce that are interchangeable with other goods of the same type. Limbo Finance supports crude oil, gas, metals, as well as agricultural products such as coffee, sugar, corn, etc.
Stocks: Stocks represent ownership stakes in large companies such as Apple, Tesla etc.
Indices: Indices are statistical measures that represent the performance of a group of assets, commonly used to track market trends and economic health. Common examples are S&P 500, US 100, and Euro Stoxx 50.
When dealing with investment activities, always adhere to the principle of diversification by allocating funds across various products rather than coLimbo Financentrating on a single one you feel optimistic about.
Account Type
Though Limbo Finance does not a demo account for practicing as many other brokers, it offers 6 tiered live accounts to suit varying needs of traders with different experience levels.
The Basic account requires a $250 deposit and provides access to 50 instruments with a 5% welcome bonus.
The Plus accountstarts at $500, offering bonuses up to 10%. The Standard account, with a $1,000 minimum deposit, includes a 15% bonus.
The Classical account requires $2,500 and features position hedging. The Platinum accountstarts at $10,000, while the VIP account, designed for professionals, requires ahighest $50,000 deposit and offers tailored conditions.
The higher rank your account is, the more trading tools you are granted to access.
Spread start from 3 pips for EURUSD and USDJPY, 4 pips for GBPUSD, but commissions for trading is not disclosed.
Margin call and stop loss levels are set at 80% and 60% respectively.
Leverage
Leverage is a kind of trading tool that allows traders to control large positions with much smaller initial capital. It enlarges both profits and losses at the same time, thus is suggested to be used prudently no matter when and what intrument you are investing in.
For Limbo Finance, leverage level is up to 1:30, 1:50, 1:80, 1:150, 1:180 and 1:200 respectively for its tiered accounts from lowest to highest.
Trading Platform
The broker offers a simplistic web-based trading platform with concise interface and only basic functions. Advanced functionalities like analysis charting tools on the popular MT4/5 are not available.
Deposit & Withdrawal
Limbo Finance accepts deposits and withdrawals via three methods:
- Bank wire transfers take 2-5 business days for deposits and 4-7 business days for withdrawals, with a minimum fee of $25.
- Credit card transactions are instant for deposits and take 4-7 business days for withdrawals, with no associated fees.
- Cryptocurrency deposits are processed within 24 hours, while withdrawals take 4-7 business days; fees for crypto transactions vary depending on the specific currency used.
