Once verified by the LimeFx account team, you can then fund your account and commence trading. In futures and options trading, LimeFx provides an easy and transparent fee structure of $ 1.50 per lot per side. Therefore, is easier and more straightforward for traders to trade without worrying about the cost of trading. Each account has different specifications which are custom made keeping in mind the needs of each type of trader. In forex trading LimeFx claims to offer tight spreads from 0 pips just like any other reputable software. As narrow spreads minimize the difference between ask and bid prices, tight spreads are one thing major and minor any type of trader appreciates in any brokerage service.
- LimeFx requires a minimum initial deposit of USD 100USD on your standard account.
- They’ve figured out all of the security and certification details a long time ago, and thus, offering fiat-crypto support was likely not an issue.
- Currently employs over 1200 employees and maintains offices in over eight countries including the United States, China, and the United Kingdom.
- After evaluating LimeFx based on the above-mentioned criteria it was observed that it is a firm that has passed these tests.
- He is a recognized expert in the forex industry where he is frequently invited to speak at major forex events and trading panels.
The purpose of the ICF is to secure the claims of covered clients against ICF members through the payment of compensation if the necessary preconditions are fulfilled. The broker puts great emphasis on Anti-Money Laundering (AML), Counter Terrorist Financing (CTF) and Know-Your-Customer (KYC) measures. All the credit and debit cards as well as the electronic transfer of payments are instant and do not have any additional fees.
The desktop platform I use for complex chart analysis and auto trading. The trading apps are ideal for me to take the markets with me in my pocket and get price alert notifications. Regardless of these differences in many ways, both these films are also very similar.
Yet again, though – while many user LimeFx reviews aren’t going to tell you this, the platform in question has support for this feature. The minimum deposit that LimeFx requires to open an account is US Dollar 100 which is average when compared to other brokers who offer similar trading conditions. If you want to test demo accounts of different types, you can create a demo of one account, receive access to your personal account and then create a demo of another account type from there. LimeFx offers beneficial conditions for trading cryptocurrencies compared to the majority of classic brokers. Degiro does not provide access to digital assets, which is why we compared conditions with Swissquote. As an example, we used the purchase of Bitcoin for the amount of $2,000.
With that being said, it still does not mean that LimeFx is the best option, as there are also hundreds of other regulated brokers with similar or even better trading conditions. We understand that they are the same limefx broker reviews methods as for making deposits and that the costs will be the usual ones. In the last 10 years, MT4 has maintained its position as the main platform for traders, due to its stability, versatility, and ease of use.
LimeFx advertises competitive minimum trading fees, but they regrettably translate into expensive actual costs. I tested the MT5 Global account, where LimeFx notes raw spreads from 0.0 pips for a commission of $2.00 per lot. LimeFx was founded in 2007 and obtained its CySEC license https://limefx.vip/ in 2015. It segregates client deposits from corporate funds and offers negative balance protection in its standard trading accounts for retail traders. It complies with ESMA guidelines and MiFID II, and the Cyprus investor compensation fund protects deposits up to 90% with a €20,000 limit.
A Sophisticated & High-End, Yet Simple to Use Trading Platform
For now, it’s worth mentioning that MT5 (otherwise known as the MetaTrader5) is the more-advanced version of MT4 – the most popular and well-known trading interface, to date. Naturally, we’ll also talk about the less-positive sides of the platform, too. 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. Partnership program is another way to receive additional bonus from working with LimeFx. If your friend opens an account with the broker upon your referral, the broker will give you a $6 bonus.
LimeFx Review – Is it a Scam or Legit Broker (
In this account, the users have the benefit of trading with the latest technology trading platform MT5. Moreover, through this account traders have the option of investing in different underlying assets including, futures, options, stocks, and even cryptocurrencies. The commission rate in this account type ranges from 0.006% to 2.5% depending on the trading instrument. In addition, there are many other value-added features of this brokerage service. For instance, it provides STP and ECN account types for trading forex and cryptocurrencies with high liquidity and fast order executions. There are also many trading tools and educational resources available on the broker’s website for the convenience of the traders.
However, bank transfers take an average time of 3-5 working days depending on the bank procedures. Additionally, bank transfer fees that are applied by the local banks are also charged through this method. However, a positive point regarding the withdrawal functions of LimeFx is that there are no additional withdrawal charges which many other brokers apply. Only third-party charges are applicable when clients withdraw funds from this platform. Moreover, even in cryptocurrencies, the withdrawal amount is less than many other brokers which is 2% of the total withdrawal funds.
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The IB is a partner that attracts clients for the broker in exchange for a commission for their operations. Obviously, the particular conditions have to be dealt with by the broker directly. This broker also offers the following trading assets, shares, cryptocurrencies, futures, options, CFD, and Eurobonds. The broker has a trading portfolio of 26 major and minor currency pairs. We consider this a rather limited variety when compared to other brokers.
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We are also a community of traders that support each other on our daily trading journey. The Forex ECN and MT5 Global accounts have brokerage fees of USD 3 per lot operated and USD 2 per lot operated respectively, apart from the spread. The core trading environment is solid, except for above-average trading fees, which I rate as the primary reason I cannot recommend this broker despite numerous bright spots. Clients at LimeFx may engage in IPO investing, a service I like, as it offers clients a chance to participate in high-risk, high-reward investments.
Ezekiel is considered as one of the top forex traders around who actually care about giving back to the community. He makes six figures a trade in his own trading and behind the scenes, Ezekiel trains the traders who work in banks, fund management companies and prop trading firms. Ezekiel Chew the founder and head of training at Asia Forex Mentor isn’t your typical forex trainer. He is a recognized expert in the forex industry where he is frequently invited to speak at major forex events and trading panels. His insights into the live market are highly sought after by retail traders.
MetaTrader is freely available on desktop (Windows / Mac), web and mobile (iPhone / iPad / Android / Tablet). The mobile apps and web platforms are useful for those who wish to trade whilst on the go from anywhere at any time. I like the web platform for accessing my account on different devices without needing to install any software.