LimeFx Review 2023: Is It the Most Trusted Broker?

However, an international withdrawal fee is charged with €30, $40, or £25 depending on the currency your account is based in. 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. With this, the broker doesn’t go near traders deposits for its daily operations. This means that if the broker goes bankrupt, you won’t need to worry about your funds, they should be safe, secure, and returned to clients.

Trading costs are an area where brokers can distinguish themselves from their competitors, since most brokers offer similar features. Unfortunately, it doesn’t appear that LimeFx fares very well in this aspect. However, a few improvements that need to be implemented immediately include the launch of more trading tools, research tools, technologies, and association with more reliable brokers. One may visit the Help Center to secure assistance with general issues. For personalized customer service, it is better to seek assistance over the phone, email, and live chat. Users are also able to reach out to the online broker community and liquidity providers through the app for assistance with LimeFx in assets.

The Financial Conduct Authority for traders in the United Kingdom. Traders in the UK, Europe and Australia will sign up with LimeFx UK subsidiary LimeFx LTD and have the following FCA regulation licence FRN ). Similar to most of its product offerings, LimeFx only offer a few energy trading options. Energies are used to diversify portfolios without having to actually own the product itself. It may also be necessary to upload government-issued ID proof documents like a driving license and pan card in compliance with the KYC regulations of the license organization.

LimeFx’s social trading platform allows traders to share their expertise with others to build a community of investors and traders. Which stocks they are following, what stocks to buy, and what stocks to sell. Intermediate traders can then absorb this expert knowledge and create their own trades. It is therefore important for LimeFx USA account holders to ensure they have a firm grasp of how forex trading works before committing funds.

LimeFx broker reviews

There is also access to LimeFx’ expert support and automated services. LimeFx offers its clients Forex, CFDs, Metals, Indices, Commodities, and Crypto trading opportunities from one trading account. The broker provides competitive pricing, as well as access to a non-dealing desk operation and ECN pricing model for Forex traders.

LimeFx Review

Luckily, if you want to trade CFDs with LimeFx, you won’t be charged commission fees. Commission fees might be charged when buying and selling financial instruments. This is one of the ways in which forex brokers earn revenue, and they vary among different financial assets, order types, and account types. Open an account with the demo trading interface of the mobile or desktop version to conduct trial trades before venturing into the live asset markets. Demo trading through the demo account is beneficial for beginning traders as well as experienced traders.

LimeFx broker reviews

The verification of the account helps in protecting the users against financial scams. One may consult the Position Rollover Calendar on the official website of the broker platform to take note of the upcoming CFD rollover dates. The dates may vary depending scammed by limefx on the liquidity level and the occurrence of unprecedented changes at the exchange forums. The process of CFD Rollover refers to the switching transition from the contract of the current month that is almost about to expire to the contract of the next month.

Every broker will have its own fee rules surrounding withdrawals. On top of that, payment providers also charge different processing fees. LimeFx is a multi-asset brokerage providing forex and CFDs for retail and institutional clients. The broker was set up in the UK in 2005 but has grown since to offer its services to investors across the globe. MT Pro is an enhanced version of the MetaTrader 4 platform, providing a range of features that aims to improve the overall trading experience. Traders can customise orders with comprehensive risk management tools, including bracket orders, trailing stops, and strategy orders.

LimeFx Overall Ranking is 8.9 out of 10 based on our testingand compared to over 500 brokers, see Our Ranking below compared to other industry Leading Brokers. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits. LimeFx is a forex broker regulated by FCA, NFA, and CIMA since 2005. For international wires, a fee of £25.00, $30,00, or €40,00 is charged. Skrill Wallet is charged a 1% transaction fee, and clients in the UK can use a faster payment for a fee of £10.

WARNING! A serious issue pointed out by professional traders worldwide!

With LimeFx, you’ll be able to trade 38 major, minor, and exotic currency pairs. Traders can quickly and easily view their trading conditions and positions, so they have the information they need when they need it. Users can also automate their trading through the use of EAs, also known as Expert Advisors. There is no shortage of features and trading tools available with the MT4 desktop platform. Regardless of which account you use, if you live in the United States, you’ll have a minimum deposit of 3,000 USD.

If you feel that LimeFx is not right for you then at the bottom of this LimeFx review you will find a lot of alternatives to LimeFx. LimeFx is a trading partner which has found its way successfully to the broker world. Within this review, we’ve tried to collate a number of the vital facets of LimeFx. This guide can allow you to understand whether LimeFx is a great fit for your LimeFxs or not.

LimeFx’ client funds are held in separate accounts and LimeFx utilizes top-tier banks for its account custodian services. Our LimeFx review was, however, unable to ascertain whether support was offered in languages other than English. MT Pro for MetaTrader offers a friendly and powerful interface and a powerful ECN execution model for beginners and professional traders. The platform indeed suites any trading style and can be accessed throughout all devices including desktop, mobile, and tablet. LimeFx’ fees are mainly built into a spreads model, while a diversity of CFDs and other products brings an opportunity to speculate on the price differences with good trading conditions. For mini contracts, the commission is set to $0.60, and $6.00 for a standard contract.

FxNet Review

There is a small number of contracts for trading gold and silver – with potentially more to be added – but ultimately, for US customers ATC is just a forex trading platform. This can have its advantages of course – especially for novice traders who don’t want to be swamped with information right off the bat. However, experienced traders with diverse LimeFx interests will more than likely need another platform.

  • Trading in the foreign exchange market and using leverage involve considerable risks and may cause a partial or complete loss of funds.
  • It has existed since 2005 and has lasted because of its clean interface, myriad of tools and particularly, its ability to to support other apps, which heightens its capabilities.
  • 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.
  • During the trading news, I opened two order on AUD/USD pair using my EA, and I made profit $780 in these two trades.
  • Finally, we’ve included a list of some of the most common funding ways that LimeFx provides to its traders below.
  • It’s crucial to understand about any broker until you trust them with your cash.

The main difference between a money-market account and a brokerage sweep account is which features they come with by default. The FDIC and SIPC both have cash coverage limits of $250,000 per account, and most — but not all — brokerages are members of the SIPC. Read your brokerage’s fine print to see what kind of insurance, if any, is offered for different sweep accounts. That means the government will reimburse account holders up to $250,000 in the event of a bank failure. From the Great Recession until early 2022, sweep account yields were negligible, and many accounts still yield less than 1% per year. But recently, some brokerages have launched money market- and CD-linked sweep accounts that yield anywhere from 1.5% to 5.1% per year.

Usability, Look & Feel

It is regulated by the CFTC, NFA and FCA in the US, UK and Australia respectively, providing transparency and security for their clients. The platform of LimeFx rewards loyal clients with bonus offers and promos. However, there is no specific Loyalty Program in place for most brokers and users. The highly active traders and investors of the significant financial situation are usually provided with extra trade opportunities by the liquidity-providing brokers of the platform. Making a deposit in the account of LimeFx is easy and hassle-free.

LimeFx Fees

Alternatively, LimeFx provides a demo account that you may use to experiment and become acquainted with their platform. Since launch, Skrill has expanded to operate in over 120 countries with the digital wallet offered in more than 40 currencies. Customers can deposit money into their Skrill wallet through a variety of options for payment, including credit card, bank transfer, and several alternative payment options. The funds can later be used to pay for merchants, others Skrill users, or transferred into cryptocurrency.

LimeFx USA continues its streamlined theme with its singular platform offering. Experienced traders will probably already be familiar with MetaTrader 4, as it is one of the most popular platforms available on the market. However, the existing format has been augmented with MT4 Pro, a plugin developed in-house by LimeFx which expands upon the existing MetaQuotes Software. LimeFx was founded in the UK and was authorized by the Financial Conduct Authority, which is a world-renowned regulatory body for British financial institutions. Internationally, LimeFx is also regulated by the Cayman Islands Monetary Authority.

The minimum required deposit for LimeFx is $5,000 or the equivalent amount in GBP or EUR. Indeed the amount is quite high, therefore it might be a good option for active and experienced traders. LimeFx Spreads are ranked low with an overall rating of 8.9 out of 10 based on our testing comparison to other brokers. We found Forex spread much lower than the industry average, and spreads for other instruments are very attractive too. LimeFx is a reliable broker with good trading ECN environment, low tight spreads, a great proposal for active traders, and wide funding methods. LimeFx after detection of profitable trader rejected to open the real account.

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