LimeFx Review 2023

LimeFx forex brokers reviews
LimeFx forex brokers reviews

This broker also has an additional entity based in the Cayman Islands which is regulated by the Cayman Islands Monetary Authority . LimeFx follows an STP model, offering forex and CFDs instruments. LimeFx has partnered with Beeks Financial Cloud to provide clients with powerful Virtual Private Server solutions. Beeks is a British low latency VPS provider that serves the financial markets.

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Moreover, the withdrawn money will be moved directly to the account you use to create deposits. This LimeFx review breaks down each of the relevant non-trading fees for you in detail. Apart from trading fees, online agents also charge non-trading fees. These are determined by the activities you undertake on your accounts.

Traders can simply complete an online application to apply for an LimeFx trading account. Yes, LimeFx is a premier brokerage firm that is well-regulated by the Cayman Islands Monetary Authority . LimeFx offers various popular financial products, mainly including Forex, Precious Metals (gold & silver), and a series of Commodity CFDs. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active.

It’s been pointed out in suits against forex brokers during the past as a very unscrupulous practice. And where are most of the so-called “government regulatory agencies” on this issue? Correcting this matter of wrong Market Watch time is a simple adjustment to their MT4 server when the market is closed during the weekend. helps traders and investors, from around the world, navigate the complex world of online brokers. We spend thousands of hours a year, both researching and testing brokers, to give you unbiased and extensive reviews.

LimeFx is a financial intermediary that provides trading services in forex and CFDs. In addition to the ECN trade execution model, the company offers a user-friendly trading platform, making it more suitable for newbies. While the product range of available financial assets is limited, the broker does not have a copy trading facility either. In this piece, I review various products and services offered by the broker in detail.

Can you trade German Shares with LimeFx?

Make sure that the account minimum is suitable for your available capital and trading requirements. The account types should match the trader and their experience level. Always see what account types are available from your broker. FX Choice allows you to trade forex, CFDs, crypto, and commodities on MT4 or MT5. The platform has a wide range of trading tools to suit all kinds of investors. Learn more about this forex broker by reading our full Hankotrade review.

  • No, LimeFx does not have a welcome bonus according to a Forex Suggest review.
  • However, once you combine the spread with the competitive commission fee, the overall costs are very reasonable.
  • It is therefore important for LimeFx USA account holders to ensure they have a firm grasp of how forex trading works before committing funds.
  • There’s also numerous articles on forex, day trading and CFDs, not to mention a demo account.

You can analyse the markets in great detail with a vast array of professional trading tools to help you get the best out of your trading. There are some basic educational guides for beginners but perhaps they are quite limited in this respect. That being said, you could always open a free demo account to practice your trading skills and see what the broker has to offer without making any financial commitment.

The most important note is funds protection delivered by accounts’ segregation, while the trader’s money is kept separate from the company’s accounts. Additionally, all customers of financial service firms operated under the FSCS are compensated and protected up to 50,000 GBP per person per firm in case of insolvency. FCA regulation protects customers conducting the brokers to follow strict rules of operation, education, and execution and provide safety of the clients’ funds. Any trader signed with an FCA-regulated broker can be assured broker operates in full compliance with high standards and can be trusted. However, the platform is also in the process of expanding its offering and now also offers access to the metals market. Trading metals works in a similar way to trading forex, in that you invest in the derivative contract for the price of either gold or silver against the US dollar.

Is LimeFx Safe?

There is a decent selection of funding options for deposits and withdrawals. I especially like the availability of cards and digital wallets as I find these to be much quicker than bank transfer. If there is some market news that I want to try and take advantage of, I wouldn’t want to wait around days for a bank transfer to clear. I do think they could improve by adding support for crypto funding like Hugo’s Way do. I like how it focuses on economic activities, currency pairs and other assets along with recent price action. I also appreciate how the news section is updated frequently; sometimes up to 20 times per day.

Experienced traders can enjoy a good selection of spread and binary options. Before you dive in, learn more about this forex broker by reading our complete FP Markets review now. Before you dive in, learn more about this forex broker by reading our in-depth CedarFX review.

How much does LimeFx charge?

Do you charge a commission? Yes, as we provide competitive spreads, our commission is set to 0.60 USD round turn for a mini contract (10,000 lot size) and 6.00 USD round turn for a standard contract (100,000 lot size).

(Scalping, no dealing desk, fair commissions, separation of client funds, etc.) and scored all the key brokers, before opening 3 accounts with ATC. The online trading platform can be used for all sorts of LimeFxs – offering wide market access. When it comes to forex brokers, IG ticks all the right boxes.

Multiple Products

The LimeFx phone support team were able to effectively address our questions and concerns via phone. We tested the multi-lingual LimeFx team by making calls in various languages. LimeFx made an effort to ensure our queries were answered. Over the past 6 years, LimeFx has developed into one of the top online brokers available to the public.

We’re about to review one of just a handful of brokerage firms that is able to help traders all over the world. LimeFx was originally established in 2005, when it opened the doors of its offices in America, and became an introducing broker. Move forward in time almost 10 years and the UK arm of the company was launched. In 2014, it was able to offer online trading solutions in the sector of Forex trading. Only around 50 trading instruments are offered which is very small compared to other brokers like Swissquote and they don’t have any individual stocks to trade.

How much leverage is available with LimeFx?

What makes online trading and LimeFx platform trustworthy is the reputation of the brokers. It is also necessary to check the availability of tools and technologies as manual trading without research tools is often inaccurate. Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital. Traders need to understand and remember that CFDs are leveraged, complex products that may be accompanied by the risk of incurring losses that may exceed the initial deposit of the trader. Traders need to ensure that they understand their risk exposure and determine whether the risk involved is suited to them before making trading decisions that could result in loss of capital.

LimeFx forex brokers reviews

However, traders can go for automated trading options using expert advisors. Unlike other competitors, LimeFx does not offer research facilities. Clients have to rely upon research resources available online.

The average spread for the EURUSD currency pair is 0.3 pips. Plenty of brokers have accounts with spreads starting from 0.0 pips. However, once you combine the spread with the competitive commission fee, the overall costs are very reasonable. If you aren’t scalping or trading large volumes, the difference will probably be negligible in any case.

All accounts have a minimum balance requirement of $2,000 for global clients, but European and UK clients will need to deposit a minimum of £/$/€5,000. MT4 has many indicators, reporting tools and signal services built into it, the platform also offers its users hedging, scalping and STP. You can begin trading in CFD, Crude Oil CFDs, silver and gold, commodities, other exotic metals and forex pairs, including major forex pairs like EUR/GBP, EUR/JPY, EUR/USD, and GBP/USD. Traders will gain access to forex, metals, and CFDs through an LimeFx account.

LimeFx forex brokers reviews

You can download the LimeFx app or also trade with LimeFx through the MetaTrader 4 application on the Apple app store. Below we take the main parts of any good online broker and compare LimeFx against freetrade, and LimeFx. These advantages are what sets LimeFx ahead of the rest of the online agents. You need to check all of the benefits listed so that you have a better comprehension of LimeFx.

Although it offers less rich platform than other brokers, it has a commission-based pricing model as well as comparatively low spreads, which makes it one of the best broker companies. This company will offer you a unique experience of trading, and hopefully, it will fit your needs. The traders need to make a minimum deposit of at least $5000 to start trading in assets. The minimum initial deposit amount may seem to be a tad too high, yet, but it is not as exorbitant as the amount charged by other best forex brokers platforms in the market. The broker platform of LimeFx allows new traders to open a demo LimeFx account and then conduct demo account trading for 60 days without making any capital LimeFx. The demo account provides traders with access to live fx market prices and enables them to place simulated trades in a risk-free market environment.

This means you can keep track of the latest market movements which can help with your trade decisions. You can also download lots of add-ons for the platform from the MQL marketplace. There are plenty of indicators, expert advisors, scripts and more. If you have the coding skills, you could even use the platforms editor to develop your own tools. If you are not that technical, the MQL community has a freelance section that could build your own custom tools for you.

You can open the platform from any browser, it loads quickly, without suspensions. You can open on any trading assets in one click, it saves a lot of time. Skrill also provides cross-border payment through its remittance service Skrill Money Transfer. The service enables customers to transfer money to a bank account overseas by using their credit card.

How do I find a legit forex broker?

How Do I Know If a Forex Broker Is Legit? You can ask the broker for their Retail Foreign Exchange Dealer (RFED) number. You can also check with the National Futures Association or the Commodity Futures Trading Commission.

The lack of research tools puts the broker at a severe competitive disadvantage. An economic calendar is a vital tool that allows forex traders to see the past, present, and upcoming economic releases and announcements. Based on the information provided, forex traders can plan their trading accordingly if there are announcements that can influence the markets. Commission, limefx spreads, and swap rates are charged for forex users. Commissions are often a flat fee charged per round turn on trades while the spread is the difference between the bid and ask price expressed in pips. Before the trading account can be approved, forex traders must submit proof of their identification and their residential address by uploading the documents when prompted.

What is the minimum deposit for LimeFx?

LimeFx is a widely regulated online forex and CFD broker. The instruments offered are not as diverse as other leading online brokers, and there is a high minimum deposit requirement of $5,000.

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