If you have traded with LimeFx we would really like to know about your experience – please submit your own review. Spreads are slightly higher on alternative products, while the withdrawal fee and inactivity penalty lower its fee rating somewhat. The international subsidiary, on the other hand, operates with limited oversight, and this holds the broker back from achieving a higher score. LimeFx does slightly better with its educational content, which includes some basic e-books, articles, and a glossary of key terms.
Non-Trading Fees
Client orders, stops, limits, and trades are executed with counter-parties, meaning LimeFx is firmly on the client’s side. For example, the EUR/USD currency pair is the most liquid currency pair in the forex market, so it generally has the tightest dealing spread. If an important news event occurs, such as a key economic data release, the EUR/USD dealing spread can widen considerably depending on how much market volatility the event causes. 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.
Is LimeFx Regulated?
I like how the process is all done online and shouldn’t take you more than a few minutes to complete. On the other hand, if you already have some experience then I don’t think you will learn anything new. They also do not have frequently updated market analysis which could help gives us some further market insights.
Is LimeFx A Good Broker For Day Trading?
LimeFx was launched in 2010 by a group of forex experts aiming to create a competitive and supportive trading experience for clients through transparency and high trade quality. This will be enough to satisfy most traders and provide opportunities to deploy a range of forex trading strategies. I like LimeFx’s floating spread pricing model, which rivals the cheapest zero-commission brokers that I have reviewed. Tight spreads increase the viability of short-term trading strategies, while the no-commission model makes trading with LimeFx simple for beginners.
- There are no deposit fees, but several withdrawals face internal charges while third-party processor costs may also apply.
- This makes the broker a worthwhile option for serious forex traders who will also enjoy the VPS service and MT4 support.
- There are more than 90 market indicators, charts, news and analysis to help investors to make the best trading decisions.
- LimeFx occasionally introduces other bonuses and promotions, which have included a $50 LimeFx no deposit bonus or annual interest on free margin.
- On the other hand, if you already have some experience then I don’t think you will learn anything new.
How To Open An Account
Spreads on other key currency pairs are also competitive, coming in at 0.5 pips on the EUR/GBP and 0.7 pips on the GBP/USD. Traded here for a while initially on demo, then traded couple of months on a live account. Everything was okay, yeah sometimes I made fatal mistakes, but as I learned, traders should never give up, so do I. It maintains sufficient capital reserves, segregates client deposits from corporate funds, offers negative balance protection, and undergoes audits. However, traders seeking stocks or deep education and market research will need to look elsewhere. Also, the offshore regulation for non-EU traders and expensive withdrawal fees are notable drawbacks.
I think there is enough to improve your trading if you are a complete novice. There is a nice selection of forex eBooks, providing guidance and understanding of the key trading concepts. A great amount of thought was applied into the forex education centre in order to ensure it can help to make a difference and enhance your knowledge of the markets.
LimeFx Trading Hours (GMT +
I think the client dashboard and website could do with an overhaul though – they are pretty dated. The very first thing I noticed when I started trading with the ECN XL account was the instant execution. I was trading with another broker previously, and after I pressed the buy or sell button, there was a little time to wait for the trade to be executed. So many times my trades were executed at a different price than the one I saw on the chart.Here things are completely different. Plus the spreads are tight.My overall trading experience and profits improve by far just by changing the broker I trade with.
I believe that having access to a thorough, comprehensive and detailed economic calendar, is extremely important. I would always like to check a calendar prior to taking any trade decision. This makes the broker a worthwhile option for serious forex traders who will also enjoy the VPS service and MT4 support. The broker has been around since 2010, and, though that is still pretty new compared to others, it has over a decade of industry experience. LimeFx’s business model is based on STP (Straight Through Processing), where orders are sent to financial institutions directly. This eliminates the potential for conflicts of interest or price mark-ups, making this broker pretty reliable when it comes to trade execution.
Beginners will appreciate the straightforward pricing model with zero-commission trading, while experienced traders will rate the tight spreads with no restrictions on trading strategies. While many forex traders are familiar with the MetaTrader 4 software, which allows for expert advisors that can automate your trades, no other trading platform is offered. If you have a broad range of assets that you trade, such as international stocks, bonds or other equities, you might want to consider an international broker that provides these services. LimeFx supports the MT4 mobile trading platform that provides excellent trading features you can also enjoy when using the MT4 desktop platform. Not only can you select from a wide range of charting tools and technical indicators with this app, but you also get real time market pricing. LimeFx provides trading in over 70 major, minor and exotic currency pairs, with especially tight forex dealing spreads.
Spot gold contracts for difference (CFD) can be traded against the U.S. dollar and the EU euro, while spot silver, palladium and platinum contracts can only be traded against the U.S. dollar. You can also trade Spot US Crude Oil (WTI) and Spot UK Brent Oil (BRENT) contracts. DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about.
I actually prefer to take control of my own trading as I like to be responsible for my decisions. It can be good to learn from mistakes and improve your trading skills by having some hands-on experience. Free demo accounts are available if you don’t want to take any risk whilst practising. Professional traders and asset managers with many accounts want solutions that make managing several accounts straightforward and secure.
Our team highly rates LimeFx’s forex offering, which includes 72 major, minor and exotic currency pairs and is on par with competitors like OANDA, which offers 68 pairs, and Forex.com with its 82 pairs. Customer support is very important for new traders, and LimeFx offers it in the form of 24-hour customer service that runs five days a week. These customer service agents will help you figure out any issue you have. Regulated by CySEC, LimeFx provides clients with access to a liquid Forex model (ECN). All of its clients receive the same access, and all trades are executed immediately, with no delays or re-quotes. The broker doesn’t take the other side of trades, which differentiates it from Dealing Desk brokers.
The sign-up process is also pleasingly simple and there is a swap-free solution for Muslim traders available upon request. Our team is happy to see that LimeFx does not impose any trading https://limefx.biz/ restrictions, meaning strategies such as hedging and scalping are viable. As for my experience of cooperation with this company, then everything is ok. calm trading and nothing else.
The broker’s no dealing desk (NDD) execution model also prevents re-quotes and involves no dealer intervention in your trades. LimeFx’s Price Aggregator automatically scans the market for the best bid/offer price combinations, thereby ensuring you get the most competitive and transparent executions for your trades. Keep reading our LimeFx review to find out if this broker would be appropriate for your needs. The overall trading environment at LimeFx features a low cost structure and competitive asset selection, . LimeFx lacks more trading tools, like CFDs on stocks for example, which became so popular recent days. New traders have access to fourteen quality educational posts plus a dedicated section on major economic reports.
I use the desktop platform for running automated systems as it is the only version which can. The web version of the platform is great if you need to access your account from any device without installing any software and it is always up to date. The mobile trading app is perfect for taking the markets with you in your pocket.
Supporting both MetaTrader 4 and MetaTrader5, FOREX.com offers traders the use of its proprietary app with web and mobile options. Screens are customizable, and traders have the option of setting up push notifications as alerts for preset market conditions. There are more than 90 market indicators, charts, news and analysis to help investors to make the best trading decisions.
Wherever you slice it, they have yet to disappoint me in ways that matter. I will keep using their services as long as they stay this reliable. I can picture my collaboration with the broker limefx broker reviews is mostly positive for me. There were some hitches in my trading here but I attribute it to my lack of experience and the fact that for the last time I was impressed by economic news.