LimeFX charges inactivity fees which is a disadvantage for those of you who may take a break from trading. The inactivity fee is charged after 12‑months of no trading activity, which is $15, followed by a $5 monthly fee. If you want to avoid inactivity fees then you could consider another brokers who does not charge them such as FXTRADING.com. limefx broker reviews LimeFX offers trading CFDs on 70+ FX Pairs, Futures, Spot Indices, Share and Stock Trading, Commodities (Metals and Energies), and Cryptocurrencies. LimeFX does not offer direct trading on cryptocurrency, but you can trade CFDs on cryptos in pairs with USD. On the other hand, LimeFX does not offer other asset classes such as bonds and options.
The help section also has Frequently Asked Questions (FAQs) along with their detailed answers. I like how the support team has over 25 phone numbers from different countries that can be used to reach them for assistance. On social media, they are on Facebook, Instagram, LinkedIn, Twitter, YouTube and telegram. I found the customer service responses to be delayed and not very helpful but hopefully you will have a different experience. This is the section of the website where LimeFX updates the traders with market news and analysis.
If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you won’t have to pay a conversion fee. There is a VIP account available to clients with an account balance of at least $50,000 (or equivalent). It offers a free Virtual Private Server service and reduced prices.
There are many cool things about LimeFX…
MetaTrader 4 (MT4) was created mainly for Forex trading, but it can also facilitate the trading of other financial instruments via CFDs and Spread Betting. You cannot trade real assets like stocks, shares, commodities, indices and ETF’s on the LimeFX MetaTrader 4 (MT4) trading platform. MT4 is a platform available with LimeFX, that facilitates trading financial instruments in the form of CFD contracts or Spread bets. The LimeFX MT4 platform does not provide access to physical assets such as stocks, commodities, or ETFs for trading. LimeFX allows trading CFDs and Spread bets, which do not involve owning underlying assets but speculating on price movements, using high risk leverage.
- However, if you’re looking for something a bit more basic, LimeFX has got you covered.
- LimeFX EDGE makes it easier to trade all six available asset classes tax-free.
- For example, forex broker Pepperstone spreads start from 0.60 pips EUR/USD for their standard account.
- Between 2015 and 2020, LimeFX was the ‘Best Broker’ in the eyes of the Financial Times.
Trading financial instruments is a high-risk activity that requires careful consideration and risk management. It is important to be aware of the potential for loss and to only invest what you can afford to lose. You will be exposed to a high risk of loss regarding leverage and margin-based trading. Furthermore, learning how to mitigate and manage investment risk is crucial. Trading with LimeFX involves developing a strategy considering risk management techniques such as stop-loss orders, diversification, and position sizing.
Trading Central are one of the best-known providers of technical trading analysis, Forex charts and Forex Signals for active traders. You should take the security of your personal information seriously and check SSL encryption is enabled on the LimeFX trading platform to protect you on PC and mobile LimeFX platforms. To further enhance security, we encourage traders to always look for the lock sign on their browser when using LimeFX web trading platforms. I’d allocate here Metatrader as this platform is suitable for all types of traders, I had an experience with LimeFX platform and it’s also suitable. There are all the required indicators and various tools for running proper technical analysis. This broker sort of pass all the tests with flying colors, so that’s your hint to pinpoint the fact, that it is quite a nice broker.
On the plus side they have a proper UK phone number which is a bonus if you want to speak to a representative. The LimeFX’s variable spread accounts market execution which means if the spread you order at is not available, LimeFX will trade at the next best price available. Traders are guaranteed to close your trade at your specified price. Stop Loss orders are guaranteed only during market hours and under normal trading conditions. The effect of leverage on profits and losses magnifies them in both directions.
If you hate losing a substantial chunk of your funds through hidden transfer fees, don’t worry, LimeFX has $0 transfer fees for depositing and withdrawing funds. What’s more, there are six transfer methods available, namely, Credit Card, Bank wire transfer, PayPal, Skrill, UnionPay or Neteller. I am not the one to trust conspiracy theories easily, but LimeFX’s attempts to cover up these unhappy customers’ comments made the entire situation seem believable. However, it is hard to discredit the company based on this, especially since it has millions of customers and dozens of awards under its belt. However, there are some reasons to be concerned for the safety of your money if you’re a LimeFX client. LimeFX is considered to be a low-risk company with a great reputation, but you will likely find many negative comments on online forums accusing the company of systemic fraud among other things.
You can easily view your profit/loss balance and the commissions you paid. A two-step authentication would be more secure and adding this feature should be high on any company’s list of security https://limefx.biz/ changes. You can also open corporate accounts and swap-free/Islamic accounts. There are a few exceptions though; among others, you can’t open an account from the USA, Canada and Israel.
- We publish unbiased product reviews; our opinions are our own and are not influenced by payment we receive from our advertising partners.
- It was designed with similar layouts, features and tools except I found the MT5 to have more capabilities and functionality.
- Our team has endeavored to break down the complex world of trading with LimeFX into easily digestible information in this LimeFX review.
- You can only deposit money from accounts that are in your name.
- Information regarding a business’s commitment to promoting ethical trade throughout their supply chain will be shown here, if applicable.
At least, LimeFX claims that this app is super safe, but it is hard not to believe a company with a “safest broker of 2019” award. With that kind of reputation, you’d suppose they know how to encrypt data. Like all LimeFX accounts, the Edge account has no commissions and super low prices all-around, so it is probably worth keeping an eye out for as it goes through further development.
I think the previous review is just…
However, the circumstances in which an LimeFX trader should use a stop-loss order can vary depending on the specific trade and market conditions. LimeFX offers various funding payment methods listed in your LimeFX dashboard if available in your region. To learn more about the LimeFX funding and withdrawal options available in your area, you can explore the LimeFX website. CTrader Automate allows LimeFX traders to create algorithmic trading
robots to automate financial trading plans. Dealers can use cTrader’s contemporary C# API to write
code within the LimeFX cTrader IDE, which allows developers to optimize and test their financial robots.
This is highly important and all new traders should know it
A VPS can be useful for those who wish to run their trading platforms 24/7 but cannot always have their computer switched on or do not have a reliable enough signal. Traders who use expert advisors for automated trading often setup their platform on a VPS. I continue to run multiple platforms with different strategies on my VPS without any issues. Leverage varies only by instrument type, but ESMA restrictions may apply to limit leverage for those in relevant countries. Unfortunately, t unregistered users can’t use the demo account, so there’s no going anonymous. Unlike other brokers, LimeFX offers streaming mobile news with major news headlines that can impact markets.
Deposit and Withdrawal Fees
What this means is that you can practise trading on your desired platform,
without having to deposit any funds. Rock-solid trading is all about having a watertight trading plan. Trading Central also offers technical analysis, which can provide potential trading angles and tests for existing trading strategies. Analysis from ‘Trading Central’ saved me hours of research and market analysis.