LimeFX advertises minimum FX spreads starting from one pip but no commission for the “Standard” account, or zero spread but with commission for the “Razor” account. On the other hand, at LimeFX you can trade mostly forex and CFDs. If you’re looking for advanced features in your trading platform, you might find the MetaTrader platform slightly disappointing.
This is better than the industry average, where minimum deposits range from $10-$10,000. CTrader accounts have a 0.0035% charge of the base currency you trade. This means that for a $100,000 USDEUR trade, the commission is $3.5 to open the position and $3.5 to close it. The MetaTrader app includes 30 indicators, watch lists, alerts, trendlines, and charts for different time frames. LimeFX offers MT4, MT5, and cTrader apps for mobile trading.
The LimeFX quotes coming from as many as 22 Major Banks and Electronic Crossing Networks, therefore traders can place orders assured of the best possible market price. Stop – A pending order where the entry is at a predetermined point above or below the prevailing market rate depending on whether it’s a buy or sell. Limit – A pending order where the entry is at a predetermined point below or above the prevailing market rate depending on whether it’s a buy or sell. LimeFX offers very competitive FX spreads and a bevy of user interfaces. This website is using a security service to protect itself from online attacks. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data.
Despite this drawback, LimeFX really deserves all the accolades here, as these nonexistent fees are a lot lower than what you’ll find with the great majority of online forex brokers. If the broker’s website isn’t working properly for whatever reason, you can also send your data via email or live chat, and the company’s representatives will open the account for you. After all that, just wait for an email from LimeFX, and you can start making money. This account, however, has higher commissions and is more suited for experienced traders, especially those who are keen on using scalping and trading algorithms. In essence, the Razor account offers a greater reward potential, accompanied by greater risks, so it’s best to start with a regular account if you’re new. LimeFX has some of the lowest fees you can find, as well as a suite of copy trading platforms to accompany its fantastic all-around offer.
The company also organizes discussions within its exclusive community of trades. These discussions cover issues intrinsic to hedging, slippage, and margins, which are the three most-complicated aspects of trading. Despite that, the stop-loss order can be executed at the bidding rate.
Training with LimeFX
CFDs and trading in forex on margin, carries with it significantly high levels of risk and might not be compatible for all the investors. Practice caution and see financial advice when unsure because what we offer here is NOT financial advice. We provide objective and unbiased reviews, analysis and commentary.
The company provides its customers with forex, indices, shares, metals, cryptocurrencies, and commodities instruments. This article will take you through the detailed LimeFX reviewso that you can get to know everything about the broker and decide if it is worth trying. You will learn aboutLimeFX trading platforms, LimeFX account types, including theLimeFX Razon account, and more. The experience delivered through LimeFX’s financial services stays quite helpful for forex traders.
The trading platforms utilize automatic stop-out systems to eliminate negative balances, but the website admits that “losses may exceed your deposit amount” in volatile market conditions. LimeFX offers limefx scammers negative balance protection, which is mandated under ESMA rules that went into effect in 2018, for its U.K./E.U. Clients do not receive negative balance protection, and no stop loss is guaranteed.
- One more factor that makes LimeFX safe is that it provides investor protection for UK traders up to £85,000.
- LimeFX’s costs are very competitive within the online brokerage industry.
- LimeFX offers low commissions, which start from $0.02 per share, allowing traders to be long or short on these CFDs without any major risks.
- While they have free deposits and withdrawals for most of the markets,LimeFX withdrawal feeis $20 for withdrawals via bank for clients located outside of Australia and the EU.
The web platform runs on MetaTrader and has excellent customization and language support. The design feels a bit outdated, and the user interface takes getting used to. MT4 and MT5 web trader have indicators, expert advisors, DDE protocols, order management tools, and more.
The forex spreads of LimeFX are much better than other brokers. The LimeFX group, however, does not offer guaranteed stop-loss orders, which is a turndown for many. In addition to that, LimeFX offers negative balance protection limited to its EU clients. It delivers a complete trading experience, which is much more competitive than other best forex brokersin the online forex trading community. The company stands superior with its lightning-fast execution systems. All instruments are available in all account types, but cryptocurrency fees aren’t well documented, which is disappointing due to that category’s high volatility and relatively wide spreads.
Standard STP Account 👤
The process to get a rebate couldn’t be any more simple than it already is, as you get the money automatically upon meeting the required amount of commission-generating trades. Some of the key features of this program include a dedicated account manager and private VPS hosting… and there’s more. Like many good brokers, LimeFX is under the watchful eye of two tier-1 regulators, namely, the Australian Securities & LimeFX Commission in Australia and the Financial Conduct Authority in the UK. The platform also has licenses from BaFin, CySec, DFSA, SCB, and CMA. As a global broker, LimeFX is available in most places, however, the company’s service doesn’t cover the U.S., Canada, and Japan, along with about 20 other countries. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits.
- On the other hand, at LimeFX you can trade mostly forex and CFDs.
- The design feels a bit outdated, and the user interface takes getting used to.
- You can get great currency exchange rates as well as free or cheap international bank transfers.
- This brand is regulated with FCA, ASIC, CySEC, BaFIN, SCB , CMA , and DFSA .
- Although the company’s growth has slowed down somewhat afterward, Australian traders have a good relationship with the brokerage, mainly because of its good service, as well as a moral business practice.
There is no inactivity fee with the broker, nor is there a fee on deposits. The only fee on withdrawals is $20 and only applies if you are making a withdrawal via international bank transfer. For instance, you can safely trade the S&P 500 CFD, Europe 50 CFD, EURUSD assets with low fees, especially with the higher tier accounts. Compared to other brokers, this one is impressive – and in our LimeFX forex broker review, the company scores well. As you will see in this LimeFX review, the broker offers CFDs, too, and is known for opening an office in London to better serve its clients in Europe.
MetaTrader 5 🤖
Traders also have access to 23 commodities, 23 index CFDs, and 940+ equity CFDs, the latter being relatively wide. However, all of its integrated platforms offer mobile options for both Android and Apple devices. We’d love to see LimeFX add its own trading platform in the future instead of relying entirely on 3rd-party platforms. We’d also love to see direct stock and fund purchase options in the future. Despite these flaws, LimeFX remains a very strong choice for international traders. A commission will be charged if the trader seeks to leverage an average spread of the Razor account at 0.17 for EUR/USD pair.
- This, along with being very easy to navigate and user-friendly has driven the platform over the years.
- All of the information and materials available on PublicFinanceInternational.org is not financial advice and is for general informational purposes only.
- So, they need to fulfill the particular regulatory authorities requirements.
- The cryptocurrency fees of LimeFX, however, are poorly documented.
All these prices are notably lower than what you’ll find with many brokers, however, LimeFX is a tad more expensive in some aspects. For example, CFD financing rates, like the price for holding overnight CFD positions, are higher than average. Then, LimeFX will make you do a very quick trading expertise survey, after which you just need to upload pictures of personal documents for verification. You need to provide a document with your picture on it, like a passport or an ID card, as well as a utility bill as proof of residence.
With its intuitive user interface and powerful trading tools, LimeFX MT4 makes it easy to get started in forex trading. Thanks to its wide range of features, MetaTrader 4 is the perfect choice for professional traders. The supported copy trading platforms include MirrorTrader, RoboX, ZuluTrade, and myFxbook for MetaTrader 4, as well as the native signals markets from cTrader and MT4. The broker even added DupliTrade and Chasing Returns to its offer recently, earning it the 3rd award in a row for the best forex broker for social trading of the year. Traders may choose between the MT4/MT5 trading platforms, upgraded via 28 plug-ins Smart Trader suite, which I find outstanding. Autochartist is also available, further increasing the edge for traders.
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The LimeFX education allows you to know the tools and knowledge you need to make profitable trades. They offer a comprehensive and designed guide to help you learn the ins and outs ofLimeFX CFDs, forex, and cryptos. Nevertheless, traders must maintain a certain margin level in their accounts to keep on trading. If the account falls limefx reviews below this margin level, the trader can be forced to sell unwanted positions or even close their account completely. The standard account also provide an excellent institutional-gradeLimeFX spreads. Base currencies for both LimeFX razor account and standard account are USD, AUD, GBP, JPY, EUR, CAD, NZD, CHF, HKD, and SGD.
LimeFX also caters well to beginner traders with a quality educational offering, in-house research, and 24/5 multilingual support. As a forex broker, LimeFX earns money from its traders’ operations. Depending on the account type, it charges a fee on the https://limefx.biz/ trading volumes or the spread differences of forex currency pairs. CFDs are complex instruments, and there is always a high risk of losing money when trading. To protect traders from this, the company secures its customer accounts under segregated bank accounts.
Depending on the regulatory jurisdiction, traders have access to the refer-a-friend promotion. I do not find the offer attractive, as the payout remains minimal, and referrals must fulfill requirements in 90 days. Yet this is a very small issue compared to the matters of much greater importance which LimeFX does very well. LimeFX also offers priority customer support for Razor account holders. Currently, there are no defined options for men and women with hearing limitations.
A bank transfer can take several business days, while payment with a credit/debit card is instant. A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. You can get great currency exchange rates as well as free or cheap international bank transfers. If you fund your account in the same currency as your bank account or you trade assets in the same currency as your account base currency, you don’t have to pay a conversion fee. Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees. The broker provides This trading platform MetaTrader 4 can be downloaded from the broker’s website.