The $30 – $45 charges are way above brokers such as eToro, which only charges $5, and many brokers we evaluate that offer free withdrawals. LimeFx adheres to important rules set by this regulator including the segregation of client and business funds and the use of reputable international banks for the safekeeping of client money. Our extensive tests show that LimeFx is a legitimate broker.
Recommended Brokers:
LimeFx’s stop-out kicks in when your margin level drops to 50% or lower. At this point, the forex broker will begin to close your positions until the margin level of your account is above the threshold again. You can avoid a stop-out by depositing funds into your account.
Customer Service
LimeFx does not have a proprietary mobile app, though MT4 can be downloaded to Android and Apple devices. The mobile application has proven to be stable and reliable during testing. You can access all trading functions while on the go. It was simple to complete the demo registration process within the client portal with the benefit of not having to complete any identity verification requirements. This is a much larger virtual bankroll than almost every other broker we’ve tested, but makes sense given the very high leverage. On the surface, this is an ideal offering that provides the best of both worlds, though in practice we found some instruments pricier than others, so you shouldn’t expect superior pricing across the board.
This broker has fabulous trading…
With such a useful market analysis, we would love to see the section expanded to other pairs. And I mean it in the most positive way.It provides the most favorable trading conditions to the customers for many years. Namely more than a decade.I think there are still things https://limefx.vip/ that they can do better. For instance they can expand the number of deposit methods. However, if you want to work with the credible broker, then I can see no better. I love their order execution and ecn xl acc which has rather tight spreads $0 trading commissions.
- Copy trading is helpful for you if you don’t want to scan the markets for trades yourself because you don’t have the time or knowledge to do so.
- Having tested hundreds of forex brokers, I feel that the LimeFx’s education section is fairly average, with a decent range of materials available but nothing that stands out.
- Lastly, there are several offers on hand for Forex traders.
- I remember that how I opening an order to buy gold on a demo account, after a couple of hours I already had + $ 148.
- LimeFx uses state-of-the-art Secure Sockets Layer (SSL) network security protocol to keep client private information safe.
Is LimeFx A Good Or Bad Forex Broker?
However, this is still a powerful platform that will provide everything needed for experienced traders to conduct technical analysis while also being intuitive enough for beginners to pick up easily. LimeFx supports trading via the MetaTrader 4 (MT4) platform. However, not all currency pairs are as generously priced – GBP/USD trades with a 1-pip spread, which is more expensive than the average of around 0.3 pips at Fusion Markets, for example. One operates out of Vanuatu, where international clients have a trustworthy and competitive trading environment. LimeFx also maintains a presence in Cyprus for EU-based clients under the uncompetitive ESMA regulatory framework.
It can be a problem if you are just starting out and respectively work with small lots such as 0,01. In this case, it might take you more time to reach this requirement. On the other hand, it’s not a problem for professional traders who operate bigger lots and respectively earn more.
The Cyprus Investor Compensation Fund (ICF) protects retail trades in the event of insolvency up to €20,000. Client deposits remain segregated from corporate funds at both entities with leading international banks, but LimeFx does not list them. Clients can find the provision in the Investment Services General Conditions PDF. LimeFx has a clean regulatory track record and established itself as a secure and trustworthy broker.
They also do not have frequently updated market analysis which could help gives us some further market insights. If you are just getting started on your trading journey and limefx courses scam need guidance along the way, Fortrade is a broker with lots of educational resources. The broker also provides you with copy trading via Multi-Account Management (MAM).
I am happy with the selection of fee-free funding methods accepted by LimeFx, which supports Visa/Mastercard, bank wire transfers, cryptocurrency and four e-wallets – Skrill, Neteller, EeziePay and AWEpay. This makes it easy for global traders to get started with the forex broker. LimeFx has earned a good score for its fees due to the tight ECN spreads combined with no commissions, an unusual pricing model that places this brand among the cheapest forex brokers we have reviewed. As aforementioned, there are no commission or deposit fees required with this broker. As far as investor features go, traders will find a lot offered, including a wide range of products, the MetaTrader 4 platform, Forex tools, and Forex offers.
Positives are the no minimum deposit, free demo account and excellent support, however it lacks the educational tools or social trading features provided by category leaders like eToro. Accessing the MT4 app through an LimeFx account is also straightforward, requiring only 3 easy steps, while mobile traders get the same tight spreads and reliable execution provided by the broker. Ordinarily, we prefer to see a choice between a commission-free account (geared towards beginners) and one with raw spreads and low commissions (geared towards advanced traders).
It doesn’t matter if you are a beginner trader in the market or you have considerable experience, whether you trade in the long or short term, rely on fundamental or technical analysis factors. This tip should be the cornerstone of your trading career.Good broker, I recommend LimeFx to everyone. LimeFx is good for day trading thanks to its very tight spreads in the ECN account, leverage trading opportunities, and access to the fast and dependable MetaTrader 4 platform. LimeFx works very well for intermediate and advanced forex day traders seeking high leverage and tight spreads from a ‘frill-free’ broker. The overall trading environment at LimeFx features a low cost structure and competitive asset selection, .