This is the same as 0.01 standard lots, or equal to $1,000 in cash value. If you need an LimeFX Islamic account, then these are also available. Here will have an account that is totally Sharia law compliant and benefit from the award-winning service of LimeFX in the area. Until recently, the broker had also been regulated by the FCA, however LimeFX decided to voluntarily suspend their regulation here due to Brexit until the future situation of the UK becomes clearer.
What Platforms does LimeFX offer?
Even though the spreads can also be very low on MT4, and MT5 accounts, as low as 0.2 pips. There may also be a fixed exchange rate in place to benefit you as a trader depending on location. Here the broker makes a special fixed exchange rate of 1 USD to 10,000 IDR available that can help traders combat currency volatility. This account type is a great starter account, though at the moment is not available to EU traders. LimeFX offers a limefx review great demo account that is easy to sign up for, just needing the most basic of your personal information and an email address. Here are a few of the LimeFX account types you can look forward to trading with once you get started.
A Straightforward Process
The web-based LimeFXTrader platform is a beginner-friendly and convenient alternative. Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets.
- For this reason, the balance sheets of the broker and those of its customers are maintained completely distinct from one another.
- Secure SSL encryption helps make your information confidential and inaccessible to third parties.
- Wow, what a great review thank you for your positive feedback.
- Real-time market execution and rigorous risk management are just two of the many important tools that are at your disposal.
- LimeFX offers reliable trading services with a seamless platform and excellent market analysis.
I appreciate the variety of trading instruments available on LimeFX, which allows me to diversify my portfolio and explore new opportunities. I’m really impressed with the comprehensive educational resources offered by LimeFX, which have significantly boosted my trading knowledge and confidence. Customer service is vital in the trading industry, we are pleased to hear LimeFX is providing you with this. We are so pleased to hear that LimeFX is providing such a informative platform. Their platform is intuitive and their market insights are detailed.
LimeFX aim to minimise trading costs with 97.5% of orders executed without slippage through the STP (Straight Through Processing) and ECN (Electronic Communications Network) models implemented. What this means is that you can get your trades placed on the markets at the best available prices at all times. It also means that they do not use a dealing desk which can eliminate any conflict of interest between you and the broker. I would always prefer to use an ECN broker as I find they tend to have the lowest spreads and quickest execution speeds. The demo account features live quotes and simulates live market conditions in assets such as forex and CFDs on commodities, indices, and stocks. Once users have gotten up to speed on a demo account, they can easily switch to a live version.
Tradable Instruments
In addition, LimeFX boasts no slippage on 97.5% of its executed orders, and no overnight carry costs, yet has restrictions in place that can hinder high-frequency traders. To deposit and withdraw funds, you must verify your account by submitting your proof of identity and residential address. The withdrawal time with the broker ranges from a minimum of 5 minutes on Skrill and Neteller up to 3 hours on other payment providers. Can I learn more about their corporate social responsibility efforts? Yes, you can find detailed information about LimeFX’s corporate social limefx scammers responsibility initiatives on their official website or by reaching out to their customer support. What kind of commissions can I earn through the Affiliate Program?
Learn more about forex trading
However, the European entity of LimeFX is regulated by the top-tier Cyprus Securities and Exchange Commission (CySEC). According to the broker’s website, clients have negative balance protection, and client funds are segregated from the company’s operating funds. We performed our tests with a live account, using the MetaTrader 5 and LimeFXTrader platforms, opened with the LimeFX Saint Lucia entity (LimeFX Markets Inc.). Some features and services may vary depending on where you reside.
The LimeFX website features a robust economic calendar, including the time, date, country, actual figure, forecast figure, previous figure, and anticipated market impact of a given economic release. 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. They can then trade as usual and earn additional income whenever others choose to copy them.
Overall, I rate LimeFX as having a mixed level of transparency. As stated on their website, over 21 million trading accounts have been opened across 180 countries with LimeFX. Uniquely, the company hosts regular webinars, with topics such as Fibonacci analysis, trading psychology, and broadcasts where you can watch one of the company’s traders for an entire trading session. Their live chat team is mostly based in St Lucia or Cyprus and is 24/7. Our broker reviews are reader supported and we may receive payment when you click on a partner site. LimeFX has struggled with pricing in the past, but has vastly improved in this category and is now gaining on the lowest-cost MetaTrader brokers.