At this point, the forex broker will begin to close your positions until the margin level of your account is above the threshold again. EeziePay and AWEpay process both deposits and withdrawals instantly, however you should be wary of currency conversion fees. The other e-wallets Neteller and Skrill process deposits within an hour of the request and are instant for withdrawals, which is competitive. During tests, the EUR/USD came in at 0.1 pips, which is tighter than rivals like LimeFx with its 0.6 pips on the same pair.
Platforms & Tools
Overall, LimeFx is a multi-asset brokerage firm that gives you access to trade over 200 financial instruments via the popular MT4 trading platform. You can benefit from a range of competitive trading conditions, such as low spreads from 0.0 pips, zero commission fees and reliable execution speeds. There is only one trading account type but several payment methods for you to choose from. Beginners can take advantage of some basic educational content and see what the broker has to offer with a demo account.
Is LimeFx A Good Or Bad Forex Broker?
We have not experienced any security concerns during our many hours using the trading platform. These combine well with LimeFx’s free forex VPS, hosted by BeeksFX, which is available to traders who deposit at least $2,500 and trade at least 30 lots per month. I really like the ‘average spread tool’ available on the broker’s website which displays fees over recent trading sessions.
Does LimeFx Offer Low Fees?
Founded in 2001, FOREX.com is an award-winning online forex trading platform offering a range of more than 80 currency pairs, one of the most competitive investment offerings on forex markets today. The broker lets you trade the available financial instruments using the MT4 trading platform. The software offers an impressive array of analytical tools, including nine timeframes and four chart types for each financial instrument to ensure detailed market analysis. I rank trading costs among the most defining aspects when evaluating an exchange, as they directly impact profitability.
LimeFx Customer Service
A Forex e-book and educational glossary are also included under the LimeFx “Education & Research” header. This feature indicates that LimeFx is perfectly fine with teaching new traders the ropes. I take advantage of broker’s competitive pricing and market execution to apply trading bots. LimeFx brand is an international brand that is registered and regulated in various jurisdictions and is committed to offering you the best possible trading experience. One of this platform’s biggest advantages is its support for automated trading via Expert Advisors (EAs), which have long been favored by algorithmic traders and which we feel are yet to be surpassed. However, not all currency pairs are as generously priced – GBP/USD trades with a 1-pip spread, which is more expensive than the average of around 0.3 pips at Fusion Markets, for example.
How To Make A Deposit
Importantly, we never recommend choosing a forex broker based on their bonuses as they can encourage bad trading habits. The online broker covers a range of important topics including guides on foundational information for the forex market that all beginners should read. Clients can also download a range of ebook PDFs for free that go into further detail on strategizing and online trading. Having tested hundreds of forex brokers, I feel that the LimeFx’s education section is fairly average, with a decent range of materials available but nothing that stands out. LimeFx’s stop-out kicks in when your margin level drops to 50% or lower.
Opening an Account
On the downside, LimeFx’s high fees for most withdrawal methods are a disadvantage. The $30 – $45 charges are way above brokers such as eToro, which only charges $5, and many brokers we evaluate that offer free withdrawals. MT4, which has helpful tools like flexible trading systems, wide technical analyses, and algorithmic and mobile trading, is offered for PC, tablet, and smartphone users. Those looking to trade metals can choose from spot gold, spot silver, and spot palladium, all versus the US dollar or, in the case of spot gold, the euro. Crypto traders can trade Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Monero, ZCash, Dash, and Ripple, and energies traders can trade spot US crude oil and spot UK brent oil. Maybe one of the reliable brokers I’ve worked with, and I’ve worked with a bunch of them already.
- LimeFx deploys an ECN/STP execution model and does not manipulate quotes.
- However, the broker does not offer any other platforms such as MetaTrader 5 (MT5), cTrader, or an in-house proprietary platform.
- Novice traders should have little difficulty finding online assistance about how to operate the MT4 platform and use it to their advantage.
- Ordinarily, we prefer to see a choice between a commission-free account (geared towards beginners) and one with raw spreads and low commissions (geared towards advanced traders).
If you would like access to these industry leading signal generating tools, then GO Markets provide both. That being said, I think MT4 should have more than enough tools for most of you, especially if you are just looking to follow market prices limefx official site and place or manage trades with minimal fuss. I like how the company is comprised of a dedicated team of professionals with extensive experience in the financial industry. This means that they should understand exactly what we need as traders.
Clients may also use their Facebook or Google accounts to open an account. Since LimeFx is a regulated and fully compliant broker, new traders must pass account verification per AML/KYC stipulations. A copy of the ID and one proof of residency documents usually satisfies this final step. LimeFx offers traders the core MT4 trading platform without third-party upgrades.
LimeFx offers a decent selection of payment methods including standard card and wire transfers as well as crypto and e-wallet solutions. This is a convenient range and I was especially happy with the inclusion of crypto payments as these are highly flexible and should work for traders based almost anywhere. LimeFx works off an electronic communication network (ECN), connecting market participants with funders.
Traders can also join live, free-to-watch webinars aimed at various skill levels. Join the social media communities to learn from fellow traders and share views. Rates, terms, products and services on third-party websites are subject to change without notice. We may be compensated but this should not be seen as an endorsement or recommendation by TradingBrokers.com, nor shall it bias our broker reviews. Trading Brokers Trading Brokers is dedicated to bringing you unbiased broker reviews, the latest broker news and trading guides to help you along your trading journey. We have over 20 years of experience when it comes to trading online so we know what to look for.
I want to caution beginner traders against using a demo account as an educational tool. It creates unrealistic trading expectations, and the absence of trading psychology negates the educational value. The average spread for major currency pairs is below 0.5 pips or less than $5.00 per lot, offering traders a distinct pricing environment advantage. Whether your new or an experienced trader, a risk-free demo account is a great way to experience the benefits of ECN trading with LimeFx. You can practice your forex trading skills or test new strategies without making a financial commitment. There is an FAQ section that answers some of the common questions that you may have.
LimeFx also offers spot precious metal and crude oil trading along with stocks from 12 leading market indices. LimeFx offers one of the best trading platforms in MetaTrader 4 (MT4) for desktop, mobile devices and directly through your web browsers. MT4 is provided by the majority of trading brokers due to its simplicity and user-friendly interface. In addition, I appreciate how they provide access to the MT4 Multi Terminal that allows you to log in to unlimited accounts simultaneously. The most important of which include regulatory credentials, the accessibility of accounts, coverage of the forex market, the quality of trading tools, and the competitiveness of fee structures.
This average customer rating is based on 7 LimeFx customer reviews submitted by our visitors. It was simple to complete the demo registration process within the client portal with the benefit of not having to complete https://limefx.club/ any identity verification requirements. This means that clients of LimeFx’s offshore branch won’t get the same level of protection and won’t have access to compensation schemes or trusted regulators if things go sour.
We aim to help you find the best broker according to your own needs. The e-wallets Neteller, Skrill, EeziePay and AWEpay are the fastest as they process withdrawals immediately. Crypto withdrawals are also quick as you can expect funds to be transferred within just 15 minutes. However, bank cards and wire transfers take up to five working days. LimeFx does not have a dedicated mobile app, but clients can trade using MT4’s app, which is available from the Apple App Store and Google Play. I do feel slightly let down that the LimeFx demo mode is limited to 30 days, but I found that you can simply open another demo account after the first one expires.
This is a rare feature that you don’t see at many rivals, and a promising sign of transparency. LimeFx runs bonus offers in certain jurisdictions, and when I opened an account with the global entity I was offered a 100% deposit bonus up to $2000. Withdrawals at LimeFx are also disappointing, with all methods besides cards and wire transfers incurring a percentage withdrawal fee that can reach a hefty 3.4%, depending on the method. Wire transfers incur a $30-$45 flat fee (minimum limit of $500), many times more than the $5 withdrawal fee at eToro. For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. This includes pros, cons and an overall rating based on our findings.
On the contrary, a market maker broker can take the opposite side of your position which means they can mark-up prices which I don’t think gives a level playing field. This broker has a lot to offer its traders, including optimal conditions, educational tools, and the use of the MetaTrader 4 platform. LimeFx provides competitive forex spreads and transparent pricing, and this No Dealing Desk broker also allows any type of trade strategy (a feature that is discussed a few sections below). ECN spreads come in as low as 0.0 pips during peak trading hours, while it supports a wider range of currency pairs than the majority of rivals with over 70 forex assets. Additionally, you have access to MT4, which was built specifically for forex trading and excels for its charting tools. Investors using the platform can trade in more than 70 foreign currency pairs and eight of the most-traded cryptocurrencies.
CySEC is a top-tier regulator that helps ensure LimeFx follows strict business standards and implements safeguards like negative balance protection and segregated client funds. The material is for general information purposes only (whether or not it states any opinions). Nothing in this material is (or should be considered to be) legal, financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by LimeFx or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. MetaTrader 4 is available for download to desktop devices or through major web browsers.