LimeFx Broker Review Forex & Stock Trading at LimeFx
All deposits via credit/card and e-payment options clear into your account instantly. The Standard and Micro accounts have a minimum deposit of just $5 (or equivalent denomination) to start trading. However, for the LimeFx Zero Spread account, there is a $100 minimum deposit. Furthermore, the Shares account (only available to LimeFx Global) needs a minimum deposit of $10,000. It is always important for would-be traders that they understand the flip side of trading with a dealing desk broker. There are 57 instruments to trade, which is a fairly decent selection.
Safeguarding Your Investment
The broker’s transparent fees and varied account types offer flexibility to orders. While industry-standard fees include overnight funding and currency conversion, the inactivity fee may concern less active traders. Overall, LimeFx’s user-friendly fee structure and competitive spreads make it attractive to traders.
Customer Service and Support Features
It is well known for its user-friendly interface and abundance of built in trading tools for conducting detailed chart analysis and trading efficiently. LimeFx pioneered offering an MT4 platform with trading execution quality in mind. LimeFx clients can trade on MT4 with no re-quotes, no rejection of orders and with flexible leverage. Whatever your trading style or experience level, MT4 is considered as on of the go to platforms for online trading. LimeFx have a good selection of trading platform video tutorials on their website to help familiarise yourself with MT4. If you are new to trading, I think MT4 is a great platform to get started with.
What is Forex Trading?
However, outside of stocks CFDs and forex that we believe that LimeFx is lacking somewhat, and sometimes significantly so. Beginner traders who have done even minimal shopping around for brokers will by now have realised that the MT4 platform is available everywhere. Some of the bigger brokers will offer their proprietary platforms to trade on, whilst others will offer other third-party platforms for variety. Professional traders looking for advanced analytical tools including fundamentals will find themselves disappointed with the offering. To help facilitate the customer service that LimeFx offers its clients from around the world, it claims to have support in over 25 languages.
I find them to be one of the most reliable brokers for trading and investing online, especially if safety and low costs are important to you. LimeFx allows traders to gain access to several features on their trading platforms. Unlike other forex brokers, it allows hedging on more than 1,000 financial instruments, including 55 forex pairs. This makes it versatile as it permits traders to use various styles of trading to maximize their gains. Clients also get access to trading ideas and analysis to help them better understand financial markets. MT4 still has long been the trading platform of choice from all types of trades across the globe.
That said, LimeFx falls behind with its limited pricing, range of markets, and platform offering — none of which can compete with the best brokers in this space. LimeFx Group is a trusted MetaTrader-only broker that offers an outstanding selection of high-quality educational https://limefx.club/ content and market research. To gain access to the LimeFx App, you have to download it from the Apple App store or Google Play by searching LimeFx.COM. To start using the app, download it, follow the account opening procedure, make a deposit and start trading immediately.
- One of the recent awards they have received is being named as the best FX broker in Europe in 2018 by the World Finance Magazine.
- LimeFx Group offers a variety of unique features and tools designed to enhance traders’ decision-making processes and provide valuable insights into market trends and trading practices.
- He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry.
- These rates can be both positive (credited to your account) or negative (debited from your account) and depend on the interest rate differentials between the currencies being traded.
- The various different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
They have a 100% deposit bonus up to $5,000, they have free VPS services and there are no fees on both deposits and withdrawals. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content. At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers.
Whether for beginner, more advanced or professional online traders, MT5 has opened up new perspectives to not just trade but also gain better visibility across different markets and different asset classes. MetaTrader 5 (MT5) takes the famous charting package and the automated trading possibilities to a whole new level. Login with your email if you just registered, or you already have an LimeFx profile.If you don’t have an LimeFx profile yet, enter your MetaTrader credentials to proceed with creating one. The LimeFx profile consolidates all your trading accounts under the same email, allowing you to login with your email address. In forex trading, minor currency pairs or crosses are all currency pairs that do not include the USD on one side.
The phone support is also great and you can access it in various languages. You will not be charged a fee for opening an account on the platform. However, if you are inactive for 90 days, you will have to pay an inactivity fee limefx scammers of $15. Subsequently, you will be charged $5 monthly if this inactivity persists. LimeFx is regulated by the Financial Services Commission, ASIC, and CySEC. The account opening process with LimeFx is straightforward and user-friendly.
Over the years, MetaQuotes had invested in continuous development, testing and improvements, which made MT5 today as the next generation of trading platforms with extended possibilities. The MT4/MT5 ID and email address provided do not correspond to an LimeFx real trading account. In forex trading, exotic pairs or exotics refers to currency pairs that include a major currency paired with the currency of a smaller or emerging economy.
This means that traders cannot lose more money than they put into their account and is excellent for beginners especially. LimeFx claims to speak over 25 languages and customer support is available through all the usual channels. However, we are especially impressed by the human contact that is available and is an excellent service for novice traders.
LimeFx does not appear to offer STP (Straight Through Processing) or ECN (Electronic Communications Network) trading accounts. So there is no Direct Market Access and it means that LimeFx can set the price that traders receive. This is a great way to get feedback from industry professionals who know what matters the most to traders.
You simply fill out the brief online registration form, verify your email and upload your identification. Once your account has been verified, you are then free to fund it using any of the multiple deposit options and start trading. LimeFx Group Support is on hand to guide you through the process if need be. I didn’t have any problems opening an account and login on a regular basis without any hiccups along the way. You can automate your analysis and gain access to the proprietary indicators by contacting your personal account manager at LimeFx Group who will be happy to get you started and provide you with assistance.
LimeFx’s customer service is easy to access and provides support in multiple languages. Users get access to these services via phone, email, or live chat features. LimeFx provides CFD trading, which allows traders to speculate on the price movements of these assets without actually owning them. To start generating more significant profits, a micro lot account can be a good choice. Micro lot trading accounts typically operate with account balances between USD 1,000 and USD 10,000 and allow you to trade with a fraction of a standard lot (i.e. USD 100,000 of any currency of your choice). With the reasonable use of your initial deposit and some leverage you can gain considerable profits on a micro lot account.
ForexBrokers.com has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. A spread is the difference between the bid and the ask price of a currency pair (buy or sell price), and so to make it even easier it is the price at which your broker or bank is willing to sell or buy your requested trade order.
The educational videos are valuable as they contain useful information and insights. You cannot use an MT5 account on the MT4 trading platform, so make sure you create your MT4 account beforehand. The webtrading terminal offers instantaneous trade execution and allows traders to buy and sell various assets, such as stock indices, forex, cryptocurrencies, precious metals, and energies. Investor protection is important because it provides confidence to potential investors that their money is safe and protected.