LimeFX Review, Forex Broker&Trading Markets, Legit or a Scam-WikiFX
You can also get help 24/5 by clicking on the live chat logo, which is available upon login to a demo or live account. LimeFX Europe Limited is also a member of the Investor Compensation Fund, which protects client funds up to 20,000 EUR. Traders should have a reasonable level of trust with this broker. There are no bonus deals or promo codes offered by LimeFX Europe in 2023.
MT4 and MT5 are widely considered to be intuitive and easy to use. If you’ve used previous versions of MetaTrader, then you’ll find them easy to adapt to because most things are arranged in the same way. Negative balance protection https://limefx.group/ ensures that when market volatility is unusually high, LimeFX clients are protected from losses exceeding the value of their initial investments. The educational resources available through LimeFX are first rate.
When making this calculation, we use one lot of EUR/USD as a benchmark as it is the most commonly traded currency pair and it usually has the tightest spread. It maintains regulation from the Cyprus Securities and Exchange Commission (CYSEC), and is registered in the Marshall Islands and Saint Vincent and the Grenadines. The trading conditions were excellent, I think you can trust this broker. Analytical materials are developed in cooperation with our partner, Claws&Horns, exclusively for information purposes.
Forex Brokers in Dubai
LimeFX Europe has an extensive mobile app offering, consisting of not only the MetaTrader apps but also the broker’s own apps tailored to forex signals, analysis, and strategies. Overall, tighter spreads and cheaper commissions are offered at other brokers, such as XM. Commissions are also charged with the ECN account at $10 per lot for major pairs, $20 per lot on forex crosses and metals, $30 per lot of forex minors, $5 per lot on oils and $5 per contract on stock indices. The data contained in this website may not be real-time and accurate. The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose.
- Therefore, should you choose LimeFX as your primary forex
- For example, it charges a fee of 3% for withdrawing via debit/credit cards and and a commission of 2% for withdrawing via Neteller (click here for more on LimeFX’s deposits and withdrawals).
- All my entries and orders were executed without
Delays and any problems.
- If you have added money using multiple systems, you can use any one of them to withdraw it.
Developed in 2005 and 2010 respectively, these systems have become the leading platforms for online forex and CFD trading. They come with multiple chart types, including line, candlestick, and bars. Other popular features include Expert Advisors, automated trading support, strategy backtesting, customisable charting, indicators, and copy trading functionality. LimeFX offers support for an average number of trading platforms compared to other brokers. Although not the best in the industry, LimeFX’s education and market analysis materials are comprehensive and regularly updated, and appeal to both beginners and more experienced traders.
The Cyprus Investor Compensation Fund covers all retail trading accounts (for those not belonging to professional or institutional investors) against broker liquidation to a maximum value of EUR 20,000. LimeFX users can choose between MetaTrader 4 and MetaTrader 5 as platforms for their trading activities. This ensures data privacy and software stability while granting users access to mobile and desktop trading 24 hours a day. The broker’s excellent customer service (which is available day and night most days of the week) adds an extra element of reliability to an already impressive service offering. I learned how to trade on forex market due to the possibility to trade on forex without investments by using demo account of the LimeFX broker. After 1-2 months I will tell you about my trading experience on the CLASSIC account in LimeFX.
In conclusion, LimeFX is a well-established and reputable online forex and CFD broker, offering a wide range of trading instruments, educational resources, and customer support in multiple languages. With its user-friendly trading platforms, tight spreads, and low minimum deposit, it is an attractive option for both beginner and experienced traders. While its maximum leverage is relatively low compared to some other brokers, this can be seen as a positive aspect for traders who prioritize risk management.
The minimum trade size is 0.01 lots, the margin call is 100%, and the stop out level is 50%. Alongside currency trading, it offers forex on metals, oils, cryptocurrencies and global stock indices, as well as CFDs on the NYSE and NASDAQ. Within these categories, the overall range is smaller than that offered by most of the better-known brokers, but many traders will still be satisfied with what’s available. It doesn’t offer futures or bonds, so you may not want to make it your sole broker over the long term if you’re trying to diversify and balance your trading.
are free of charge and withdrawals are subject to withdrawal fees.
- LimeFX will provide users with a certain amount of bonus, for the refund of fees incurred by the payment.
- The amount of leverage you use is established when you initially set up your account.
- Negative balance protection ensures that when market volatility is unusually high, LimeFX clients are protected from losses exceeding the value of their initial investments.
- Additionally, there is no information available on the number of instruments offered on the platform, and it is unclear if exotic currency pairs are available for trading.
Specific server hours can also be provided by the customer support team, or by clicking on the instrument details within the client portal. Traders can choose between the Classic or ECN account at LimeFX Europe. The main difference between the two accounts is that tighter spreads come with the ECN option, plus scalping capabilities and access to the social trading platform. LimeFX Europe is a great option for forex traders with dozens of currencies, low spreads from 0 and a VPS for automated trading strategies. We also rate the daily market insights and forex tutorials for beginners. LimeFX can be accessed through the popular MT4 or MT5 platforms, and download links for both of these are available on the website, keeping things simple for beginners.
Deposit & Withdrawal Methods
Available for free to all LimeFX clients, Claws & Horns provides fundamental and technical analysis, video reviews, and various signals. It also provides recommendations for trade opening with entry/exit points that are updated throughout the day, which are intended for medium-term trading strategies. As you can see from the table above, trading costs on the ECN Account are significantly lower than those on the Classic Account. However, these costs are still above those of other good brokers, which have trading costs of 9 USD per lot traded. Additionally, spreads are variable, which means they get tighter or wider depending on trade volume and market volatility. Apart from the high trading costs, other drawbacks are that LimeFX charges high withdrawal fees.
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In the following article, we will analyse the characteristics of this broker in all its dimensions, providing you with easy and well-organised information. Then I quickly went to the chart to see what happened, I saw litefinance had changed the chart, I logged in to my other broker then see what happens in the pictures. Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital. We suggest you read LimeFX’s customer agreement before opening an account. Traders are also required to submit an electronic form of identification to make withdrawals in line with Anti Money Laundering rules. LimeFX also charges an inactvity fee of 3 EUR per month after three months of inactivity.
Firstly, the broker supports multiple payment methods, including electronic transfers, bank cards, and bank wire transfers. Secondly, the minimum deposit requirement is only $10, making it easy for beginners to get started. Lastly, there are no extra fees charged for deposits or withdrawals, which is a bonus for traders on a tight budget. However, LimeFX does not offer e-wallet options, which is a popular payment method among traders, and the information on withdrawal processing times is limited. Additionally, local bank transfer is not available in some countries.
It also provides its clients negative balance protection, so that they cannot lose more than is in their trading accounts. Another strong point is the broad range of forex trading educational resources available on the broker’s website. Forex traders focused primarily on major limefx broker reviews and exotic currency pairs will benefit from competitive spreads and a transparent fee structure while using the industry-standard MetaTrader platform. LimeFX has a track record of more than 15 years in the online brokerage industry with offices in jurisdictions worldwide.
As a result, STP brokers are typically known for their transparency and faster order execution. LimeFX’s STP model allows clients to experience pricing that reflects current market conditions, which can result in lower trading costs. However, since LimeFX does not have fixed spreads, clients may experience wider spreads during volatile markets. Additionally, requotes may occur due to the time it takes to process orders.