Lima Forex Review Is A Legit Broker

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Was at Other websites of this company include, IGI


IG is a forex broker. IG offers the WebTrader and MT4 trading currency platforms. offer over 100 forex currency pairs, cfds, commodities, stocks, index, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options.

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Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 200:1
Minimum to Open Live: $250
Established: 1974
Address: Cannon Bridge House, 25 Dowgate Hill, London, EC4R 2YA, United Kingdom
Contact: [email protected], (44) 207 896 0079
Regional offices:
Regulators: ASIC #AFSL 220440, FSCA #FSP 41393, DFSA #F001780, FCA #195355 / 114059, NFA #0509630
Prohibited countries:




Trading platforms: MT4, IG Web and Mobile Platform, ProRealTime
Web Trading:
Mobile Trading:
Currencies: (105+)
Cryptocurrencies: (10+) Bitcoin, Litecoin, Ethereum
CFD: (16000+) Gold, Silver, Stocks, Stock Indexes, Bonds, Bond Indexes, Oil, Other Commodities






News Spike Trading:
Deposit Methods: Bank Wire, VISA, MasterCard, PayPal
Withdrawal Methods: Bank Wire, VISA, MasterCard, PayPal

Live discussion

Join live discussion of on our forum profile provided by IG Group, May 13, 2020

The world’s No.1 spread betting and CFD provider*

Our vision
We aim to be a global leader in retail trading and investments. With a strong focus on innovation and technology, we put client needs at the heart of everything we do. This enables us to empower informed, decisive, adventurous people to access opportunities in over 15,000 financial markets.

24-hour support
Our highly trained team is available 24 hours a day from 8am on Sunday until 10pm on Friday, and from 9am to 5pm on Saturday UK time.

Powerful technology
Our intuitive platforms and apps are built for speed and security. We offer a fully customisable award-winning web platform, natively designed mobile and tablet apps, as well as a range of advanced third-party tools.

A global leader in online trading
We are the world-leading provider of contracts for difference (CFDs) and financial spread betting, and the UK’s largest retail forex provider.* We also offer execution-only share dealing, along with fully managed investment portfolios. With over 40 years’ experience behind us, we’re perfectly placed to help you make the most of the markets. *Based on revenue excluding FX (from published financial statements, October 2020). Losses can exceed deposits.

Forex Brokers Lab





Dif Broker


Commissions and fees

Customer Service

Platform & Tools

Product Portfolio

  • Variety of Trading Instruments
  • Good Customer Service
  • MT4 is not supported
  • Wide Spreads
  • High Minimum Deposits

Regulators : Banco de Portugal

Minimum Deposit: €2,000

Maximum Leverage: 1:30

Spreads: High

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My Score: 3.4

This time I am going to tell you about a Portuguese broker but favorite of Spanish forex enthusiasts, Dif Broker. Continue reading for getting a throughout information about the broker.

Dif Broker is a forex and stocks and CFDs broker headquartered in Portugal. The company has been operation for many years. It founded in 1999. The “dif” name of the company comes from different.

Is Dif Broker scam or legit? Which regulations are they subject to? What is the difference between registration and regulation? What is Dif Broker minimum deposit requirement? Is Demo account available? Are customer service employees helpful and friendly? How much leverage do they offer? I advise my valuable readers to not open an account before reading this Dif Broker Review.

Most of the visitors to site come from Spain. Customers of the country make up 58% of their visitors. Other visitors of the website are 23% Poland, 10% United Kingdom, 3% Armenia and 2% Germany, respectively. If we need to compare the distribution with other brokers, we can conclude that the company highly focused for certain areas. We can verify this conclusion by the languages the website supports, since the languages match with the countries of most customers. The website is accessible for Portuguese, Spanish and Polish beside English.

The company has many awards from numerous foundations, i.e. World Finance, Global Banking and Finance Review. There are awards titles such as “best online broker of Western Europe” and “among the 100 best companies”.

Regulations and Investor Protection

The company has a lot of registrations in various European foundations. FCA or “Financial Conduct Authority” is one of them. Their FCA registration number is 434573. You can search the number from FCA’s own site under “Search the Financial Services Register”. In fact, the UK based authority is one of the most respectable foundations, but Dif Broker isn’t regulated by FCA. There is a big difference between registration and regulations. Registration only lets the firm to operate in a certain country, but there are many conditions to get a regulation license. For instance, the company should hold money amount of €730,000 to get a license from FCA. In return, FCA will grant the clients up to £50,000 if the company can’t pay to clients.

The broker is registered and regulated only by “Banco de Portugal” which is the central bank of the Republic of Portugal. You can check this by number 225. The company is also registered to CMVM (Portuguese Securities Market Commission) with No: 276. The CMVM has an EU license under Markets in Financial Instruments Directive (MiFID). The directive is accepted by European Parliament and Council and active since November 1, 2007. The main aim is to make regulation of financial instrument markets in EEA (European Economic Area). EEA consists of 28 EU members and three Non-EU members.

Dif Broker Account Types and Spreads

The broker doesn’t offer account options. The standard account is available for customers who deposit €2,000. Since the broker is subject to ESMA regulations, the maximum leverage is 1:30.

The fixed spreads are really wide. With 3 pips, Dif Broker is almost doubles the market average.

Trading Platforms

Dif Freedom Platform is the broker’s in-house platform. They provide 24 hour service for economic developments, technical analysis, data from renowned sources from Businessweek, Bloomberg for your smartphone, tablet or personal computer.

Customer Service

I couldn’t find their account types at first, but their employees quickly helped me. So the live chat service is functional.

Trading Instruments


Forex or Foreign Exchange Market is the biggest market in the world. Some claims say that the volume of average trading operations thirty times more than United States’s equity markets. So the firm offers you to join this interesting area. Whether it’s Major, minor or exotic, you can trade with 32 different currencies.


People actually owns the shares of companies with stocks. After you buy a share, you are under risk of losing money because of bad management, adversely you can earn money with good management. You can trade with hundreds of stocks from 33 Stock Exchange Markets including NYSE, Deutsche Boerse, NASDAQ etc.

Trading CFDs

CFD or “Contract for Difference” is one of the most complex trading instruments. CFD is an agreement made in a futures contract in differences by cash payments, instead of transfers of physical goods. To be clear, it’s also quite risky of losing money because of leverages. 72% of accounts lose money while making trading operations with CFDs, the firm warns.

Dif Customers can trade CFD with 20% margin and without commission.

Commodities CFDs

There is standard margin 10%, but without commission. There are thirteen CFD commodities available in 4 different catagories: US Crude, Heating Oil, US Gasoline, US Natural Gas as Energy. Gold, Silver, US Copper as Metals. NY Coffee, NY Cocoa, NY Sugar as Soft Commodities. Corn, Wheat, Soybeans as Grains.


The broker is one of the earliest with its foundation in 1999. But, they haven’t got a regulation license by a major watchdog. This can be a reason to giving up trading for some. But they are regulated by Central Bank of Portugal and they can ensure some sort of trust.

Maybe this also explain Spanish people’s being of biggest customers since they are their only neighbors in the Iberian Peninsula.

Minimum deposit is one of the biggest cons of the broker. To be honest, I still can’t believe the greatness of number, €2,000. It’s almost like they don’t want you to deposit money. Also spreads are incredibly high. Maybe highest pips I have ever seen.

MT4 or Meta Trader 4 is market’s standard platform. Most of the companies offer this platform even if they have in-house platforms. Dif Broker doesn’t support MT4. However, uou can try their demo account, this is an advantageous feature.

Customer service was superb and helpful. This is a plus. Also the broker has wide range of trading instruments.

All in all, the broker won’t get high score from me due to disadvantages I mentioned above. But the choice is up to you.

Forex Auto Traders: A Scam or A Gold Mine

Automated Forex trading, also known as auto Forex trading, is the process in which you allow a computer program to either trade your Forex account or recommend trades which you may then execute manually.

The computer program executing or recommending trades will operate according to a set of rules which will govern the generation of trade entries and trade exits.

Implementing automated Forex trading can be done by either building your own computer program, buying one, or even obtaining one for free, and then attaching the program to your trading platform. Many Forex trading platforms, especially MetaTrader 4 and MetaTrader 5, are designed to accept such programs easily.

The main advantages of auto Forex trading are that it can remove emotional and human factors from your trading, and also that it can execute trades 24 hours per day and free the trader from the need to be sitting in front of a computer terminal.

The main disadvantages of automated Forex trading are firstly, that if there is any bug in the software, it can make a huge amount of unnecessary or poor trades very quickly and blow your entire account. Secondly, if you buy a program whose rules are secret, and you entrust it with your account and leave it running, you may return later to find very unexpected results. This is why it is very, very important to back test thoroughly any auto Forex trading program or “robot” before attaching it to a trading platform on which you are running a live, “real money” Forex trading account.

How Do Forex Automated Systems Work?

If you are going to trade Forex, sooner or later you will hear about automated Forex trading systems. They are also called “robots”, “expert advisors”, and “auto traders”. No matter what you call them, they all operate in a similar manner. While the exact technical set ups will vary from system to system, the operation of them will essentially be the same.

You will download and install the system to your Forex trading platform and set up should only be a couple of steps. The basic premise of these things is that they are essentially an “add on” to your trading platform. This allows for easy installation, and uninstalling is just as simple. Because of this, many traders will actually have several different systems that they use in a variety of market environments.

The systems will fall into two basic categories: automatic and semi-automatic. The automatic ones will place trades for you, without any input from you at all. The semi-automatic ones will simply give you a signal or suggestion as to which way to trade a particular currency pair, and you may then place the trade yourself.

The automatic systems will simply buy or sell based upon a possibly complex mathematical formula that tells the computer when it is time to enter or exit the trade. The automated Forex brokers system simply does all of the work for you. It is very common for these systems to have a hidden proprietary algorithm that you never see in order to make these decisions. The one thing they will all have in common is that they are all mathematically based. Hiding the algorithm is just a simple way of protecting their intellectual property.

The auto Forex trading system type offered by Forex automated traders will simply let you know when it generates a signal to buy or sell. The system will still have that hidden algorithm that you won’t see, but instead of it automatically placing the trade on your behalf you will often see some kind of pop up alert when it is time to trade. You can then choose as to whether or not you want to trade the signal, allowing greater flexibility for the trader.

The majority of these systems are made for the MetaTrader 4 platform as it is by far the most popular one out there. There are systems made for other platforms such as DealBook 360, NinjaTrader, TradeStation, and many others. However, you will find a huge supply of them for the MetaTrader 4 platform as even the brokers that use other platforms will often offer MetaTrader 4 as well. There is also a large amount available for the MetaTrader 5 platform, which is not always compatible with MetaTrader 4.

The better Forex automated trading systems will come with a money back guarantee. Because of this you should be able to feel somewhat comfortable with the software as your money can be refunded. However, it is recommended that you try a new system out on a demo account just to make sure it performs to your required standard. Like anything else, there will be some that are better than others and your mileage may vary so to speak.

Forex Auto Traders: A Scam or a Gold Mine?

The rapid speed at which the Forex market is growing has many consequences, some better than others. On the one hand, there are endless resources online for learning and becoming an expert on the largest most lucrative market in the world. There are also many more people around the world who are spending their days and nights testing the waters of Forex trading.

Other positive outcomes of Forex growth are more Forex brokers and services from which a trader can choose. On the other hand, the great popularity of Forex brings with it some problems that require caution on the part of the Forex trader. One of the biggest issues in today’s online Forex community, as well as the general Web community, is spam. When it comes to surfing the web and encountering annoying popups or receiving bogus emails, as annoying as these occurrences are, 99% of the time, they are annoying and nothing more. Of course, there is the occasional online scam, but with the widespread use of online communication such as email, messenger, and social media, most people know to stay away from those types of things.

When it comes to Forex spam, however, it is a totally different ball game. There is money to be lost as a result of the different types of Forex spam that traders encounter on a daily basis. The most common type of Forex spam is advertisements for Forex robots or auto forex trading systems. The big question regarding these auto traders is “Are they all bad? Are there some legitimate ones and are they worth trying”? The answer is that they are NOT all spam and that there is a LOT of money to be made by using auto traders, but for that, you need to do your homework.

An Introduction to Auto Traders

First, let’s try to understand why one would use an auto trader and what are its advantages. As, we said earlier, one of the biggest downfalls of the Forex trader is emotion. While being in touch with your emotion will get you far in life, it will set you back in your Forex trading. It is important to set yourself a trading strategy and stick to it, NO MATTER WHAT. This is harder than it sounds. Just imagine you define your trading technique, and for days, all you see are losses. Could you control yourself and not become overly emotional at this result?

Alternatively, if you are seeing constant profits, would you not be swayed by greed to trade with too high a risk? It would only be human. Precisely for this reason, it can be a smart tactic to remove the human factor from your trading. The way to do this is to automate your trades.

There are many auto traders out there that perform technical analysis and decide when to open or close trades, while its primary “concern” is to keep you on the winning side. Unlike Forex brokers who occasionally profit from your loss, auto traders work for you and not against you. This could of course be a reason to be wary of Forex auto trader which you see promoted by Forex brokers! Another reason to use auto traders is that they can trade 24 hours a day, even when you are not near your computer.

Imagine, you can be at a friend’s party and find out that you just made a huge profit, it’s like the feeling you get when finding money in your pocket multiplied by 100. Let the auto trader do all the work while you sit back and enjoy the fruits.

Finally, auto traders can be a great and effective trading tool for any Forex trader, no matter how experienced they are. However, it offers a huge advantage to new traders. They do not need to know the market, how to read the charts, or what a certain currency will do in the market today. Essentially, you do not need to know anything about the Forex market, and you can become a very successful Forex trader.

Choosing an Auto Trader

Now that we have established that Forex auto traders can be a wonderful thing for traders, how do you choose one?

There is no one way to decide which auto trader to use. An important and crucial tip in ensuring your auto trader is legitimate and will bring you profits and not losses, is of course to read reviews. You can read professional reviews as well as user reviews, but make sure these are objective opinions and not written by the people who are behind the system that is being reviewed.

Before entrusting your money to an auto trader, you should back test the auto trading program against many years of real historical Forex data, ideally over 20 years. Then you can see how badly it would have done in a “worst case” scenario. A good risk manager would plan to encounter another scenario which would be twice as bad. So, for example, if your back test shows that the auto trader lost as much as 30% at some point over the last 20 years, you should plan for a worst-case scenario of a 60% loss in the future. Of course, you should be able to adjust the risk by playing with the position sizing element of the auto trader to ensure that the risk is adjusted to the worst drawdown you are prepared to sit through.

Another way to take precautions before buying a Forex auto trader is to look for a few signs when examining the company at hand. Here are a few questions you should ask yourself when choosing a Forex auto trader:

  1. Do they offer a money back guarantee?

Most reputable auto traders are so confident that their product works, they will offer a money back guarantee ranging anywhere from 30-60 days after the purchase. This means if you buy the software and realize soon after, it is not for you, you can receive a complete refund. This is a must when choosing a Forex auto trader. If you have this guarantee, it lowers the risk of a scam to virtually zero.

  1. Do they offer a free demo?

Similar to choosing a Forex broker, one of the first things you need to do when choosing an auto trader is test it out. When buying a car, would you not test drive it first? Make sure to do the same in your Forex trading. Test out the software before purchasing it. However, it is also important to take into account that demo accounts are not always 100% accurate, so take the results of the demo with a grain of salt.

  1. Does their website annoy you?

Lastly, this is a universal rule when it comes to buying anything online. Go to the vendor’s site and look out for any popups/illegal activity/inappropriate advertisements. This is not always the case, but it is a precaution worth taking. 9 out of 10 times, a site that displays annoying and shady popups will offer a questionable service as well. If this vendor associates itself with shady businesses or the online pornography industry, you should think twice before investing your money in such a company. As I said, this is not across the board, there are some very legitimate online businesses that feel that a popup covering your entire monitor is effective marketing. They are wrong, but that does not make them a scam.

The bottom line is that online scammers choose to scam in areas that are full of potential. Nobody is going to click on a spam advertisement for a computer from 1981, scammers know what they are doing, and they choose topics that will draw attention. Forex auto trading has endless potential when it comes to making you significant profits, but just like anything else online, you must proceed with caution

Adam Lemon

Adam Lemon began his role at DailyForex in 2020 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.
Learn more from Adam in his free lessons at FX Academy

Best Binary Options Brokers 2020:

    Best Options Broker 2020!
    Great Choice For Beginners!
    Free Trading Education!
    Free Demo Account 1000$!
    Get Your Sign-Up Bonus Now!


    Only For Experienced Traders!

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