Both accounts offer most features found in a standard account with similar types of brokers. This means no commission costs in addition to the spread with these spreads starting from 0.8 pips for the EUR/USD currency pair. MetaTrader 5 (MT5) is an advanced trading platform offering improved charting tools, additional order types, and support for more asset classes compared to MetaTrader 4 (MT4).
What is the minimum deposit required to open an account with LimeFx?
One thing that stood out to me about this broker during my review was the ease of use. The LimeFxTrader platform is intuitive, well designed, and has popular features like alerts and 1-click trading. There are no swap fees, inactivity fees, or fees for deposits and withdrawals. Three account types cater to traders with different levels of experience. We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs.
Can I trade cryptocurrencies with LimeFx?
It’s worth noting that LimeFx’s primary execution venue is one of its own entities in St. Lucia. There are 35 currency pairs to trade for most traders across the globe, but only 28 pairs are available if you live in the European Union. While 35 pairs mean LimeFxFX offers all the popular pairs to trade with, less popular pairs can be more volatile which means more opportunity to profit from this volatility. LimeFxFX offers two types of trading accounts with both being the same except one is with the MetaTrader 4 (MT4) trading platform and the other is with the MetaTrader 5 trading platform (MT5). We found Forex Broker LimeFxFX most interesting feature to be that they have no swaps. Other features include MT4 and MT5 trading platforms and commission-free spreads from 0.8 pips.
App support
LimeFx also made a significant step forward since my last review by adding 150 CFDs on shares from 16 global stock exchanges. By pressing ‘set up copying’, the orders of the Master Trader will be copied automatically. Traders have complete control over the process and can stop copying anytime. LimeFx clients with an MT4 account can also elect to become Master Traders.
- Another thing we should note is that in the case of LimeFxFX, we assume the spreads haven’t been widened.
- This wasn’t good, and we’d like to see LimeFxFX improve greatly in this department.
- However, LimeFxFX recommends depositing at least $100 to have a better trading experience.
How can I open an account with LimeFx?
LimeFx offers a variety of account types designed to cater to different trading needs and levels of experience. LimeFx fully complies with international legislation and regulation standards and guarantees fund security and negative balance protection to its clients. LimeFx makes use of segregated accounts to protect their clients’ scammed by limefx funds coupled with negative balance protection. LimeFx, formerly known as LimeFxFX, is a global online broker providing access to various financial markets, including forex, CFDs, and commodities. One of the reasons that traders are attracted to the forex and CFD markets is the high degree of available leverage.
Are there any fees for depositing funds into my LimeFx account?
This account is meant for those with a goodunderstanding of Forex and a willingness to invest for larger profits. Thisaccount offers the lowest spreads which allow for the maximum length of tradeoptions. Apart from that, LimeFxFX offers you the ability to deposit and withdraw using e-wallet services such as Neteller and Skrill. As the customer service operator pushed me towards it, transferring to some cryptocurrency such as Bitcoin or USDT is always possible.
This allows CFD and Forex traders to either copy other traders’ trading signals or let you broadcast your own trading signals to other traders on the social trading platform. The most popular of the three platforms is MT4, the industry-standard workhorse that more or less every retail broker offers. With LimeFxFX, you have access to most of the major trading instruments. But, it must be said that depositing funds and holding your capital with LimeFxFX is definitely a higher risk than trading with other, more regulated brokers. Saint Lucia allows companies to self-regulate as long as they comply with the country’s laws.
LimeFxFX has quite an extensive research and education section on the company’s website. There’s an economic calendar and regular news updates, which could be useful if you must keep up to date with the latest fundamentals. We think it is odd that LimeFxFX does not have an email or phone contact and we thought their live chat could be more knowledgeable. This wasn’t good, and we’d like to see LimeFxFX improve greatly in this department. Copy trading is a cool concept, but we urge you to be very cautious about who you copy and do your due diligence into the skills and trading strategy of anyone you want to follow. Each platform runs on Windows, iOS, and Android, so no matter which device you trade from, you’re free to use the platform you like the best.
Another thing we should note is that in the case of LimeFxFX, we assume the spreads haven’t been widened. If they have, then this would be akin to an administration https://limefx.club/ fee however it is difficult to prove if LimeFxFX is doing this. Regarding account currency, if you join the LimeFxFX European subsidiary, you will use Euros.
MetaTrader 4 platform is well-known for its dependability and full capabilities. MT4 provides comprehensive technical analysis tools, a user-friendly interface, and automated trading capabilities via Expert Advisors (EAs). LimeFx employs SSL (Secure Socket Layer) encryption to secure data transmission between clients and the trading platform.
Generative AI tools are not a part of our content creation or product testing processes. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry. Founded in 2011, LimeFx (formerly LimeFxFX) is part of a group of global entities, which include LimeFx Markets LTD (based in the island of Mwali) and LimeFx Markets Cyprus Ltd (based in Cyprus). LimeFx also provides financial services through its intermediary, Orinoco Capital (based in South Africa). LimeFx does have a proprietary app for social copy trading (the LimeFx Copytrading app), yet it still trails behind industry leaders such as IG and Saxo.
LimeFx offers a swap-free Islamic account that adheres to the principles of Sharia law. MetaTrader is also popular due to its copy trading and automated trading features. LimeFx does not currently charge swap fees – the charge for holding leveraged positions overnight. The EU entity of LimeFx clearly states its regulatory status in the website’s footer. The offshore entity also references its corporate registration number with the Saint Lucia authorities at the bottom of each page. However, there is room for improvement in terms of being clear about the unregulated status of the offshore entity.