Forex Trading

LimeFX Review 2023 must see review of forex broker LimeFX Comoros Ltd

LimeFX ecn

This is provided by FXStreet and it is available in 17 languages. FXStreet is a popular online financial research firm that provides you with forex news, analysis, and other tools. The economic calendar also shows you the dates and times of economic activities in about 50 countries. I like how they’ve catered to the international community as well by doing so. These are events that impact the values of the currencies and exchange rates. 5 Institutional-level spreads are offered on LimeFX Pro accounts on the condition that a minimum account balance of 25,000 EUR/GBP/USD is maintained at all times.

These offer the advantage that the deposited amount is immediately available on the trading account. Using the MT5 plugin helps you clearly outline your parameters, and then the plugins will be responsible for notifying you when vital levels are limefx scammers broken. Also, you have the liberty to run it simultaneously over a wide range of different markets. The Autochartist app and plugin have been built for the ease of newbie traders to improve upon new strategies as they are quite intuitive to use.

  • Tell us what you need and we’ll work hard to get the best deal for you.
  • The firm is authorized and regulated by the Financial Services Commission (FSC) of the Republic of Mauritius.
  • I like how the broker has multiple payment methods which include localized payments for different countries and jurisdictions.
  • It offers different types of accounts to satisfy all trader profiles.

One drawback for beginner traders considering opening an account at LimeFX is the lack of educational and market analysis materials, forcing traders to self-educate elsewhere. This will offer the same thrill of trading, although your account will automatically copy the moves of the experienced traders using the platform. It is possible to view the LimeFX International Top Ranking Strategy Manager, which will display a list of potential traders to follow. These are known as strategy managers and their trade moves can be instantly copied to your own account. There is a free demo account available, which can be used as a risk-free way to learn how to trade without depositing any funds.

With LimeFX International’s ECN Account, you will experience a more flexible, more transparent and more efficient trading experience than ever before. This is next level stuff, an account that offers you the best ask and bid prices from liquidity providers. Benefits for advanced or professional traders include improved spreads, a loyalty scheme and the facility to become a Strategy Manager and share in the volume of trades created. The impressive range of commodities, which is an independent asset class, also offer good opportunities for portfolio diversification. In addition to the demo account, there are 4 account types which will use real money.

Alternative Brokers

When compared to other brokers, I found LimeFX to have a limited number of tradable assets. Only the forex majors, minors, and exotics are available for trading. There is a decent selection of forex currency pairs along with spot metals, spot CFDs, and a a limited range of cryptocurrencies. I highly recommend checking out IC Markets for a better range of assets for trading. There are articles introducing newcomers to forex trading by explaining certain basic terms.

LimeFX does not charge fees for deposits, but it charges relatively high withdrawal fees, depending on the method (click here for more on LimeFX’s deposits and withdrawals). For example, a fee of 1.2% + 2.9 EUR  is charged for withdrawals via debit cards/credit cards. LimeFX’s non-trading fees are average compared to other similar brokers. When this setting is off, limit orders will either be executed at the specified order price or at a more favourable price if sufficient supply becomes available on the market. With this setting on, limit orders are effectively executed as Good-Til-Cancelled (GTC) orders.

Euro/US Dollar

Overall, we can recommend LimeFX because of its huge variety of payment methods. A fixed bonus like other Forex Brokers is not available at LimeFX. Also, it is possible to get a free bonus if you refer a friend to LimeFX. Please inform yourself about the actual promotions on the LimeFX homepage.

No fees are charged for deposits, but a withdrawal fee may apply, depending on the method. Of particular note is the fee for bank wire transfers, which costs 30 EUR per transaction. The three ECN accounts at LimeFX use market execution and the Forex ECN account supports MT5 as well as MT4, though the MT5 platform will not support Islamic/swap-free accounts.

LimeFX ecn

For pending orders, the slippage is calculated as the difference between the order price and the price at which the order is actually executed. For market orders, this is calculated as the difference between the price at the time the order was submitted to the server and the price at which the order was actually executed. 5 LimeFX applies dividend adjustments on Spot Indices when positions remain open on the ex-dividend date. If a client is holding buy positions his/her account will be credited with the fixed dividend amount.

LimeFX fees: How much does it cost to trade?

This holds true for its stock CFD offering, in addition to the number of commodities on offer. MT4 and MT5 are freely available on both Android and IOS mobile phones and tablets. The advantage of using the MetaTrader platform is the cross-device and multi-broker functionality, making it easier to change brokers or use multiple brokers.

  • This includes pros, cons and an overall rating based on our findings.
  • LimeFX offers a number of deposit and withdrawal methods, including credit cards/debit cards, bank transfers, and e-wallets such as Bitcoin, Skrill, Neteller, Webmoney, and Perfect Money.
  • This sanction did not, however, put the broker out of the running.

Creating an account is straightforward, the process is fully digital, and accounts are usually ready within one to two business days. When making this calculation, we used one lot of EUR/USD as a benchmark as it is the most commonly traded currency pair and it usually has the tightest spread. LimeFX is a member of The Financial Commission, an international organization engaged in the resolution of disputes within the financial services industry in the Forex market.

How to deposit money on LimeFX

The texts on this page are not are not investment recommendations. To open a real account, you will need a minimum deposit of at least $/€/£ 5. LimeFX also offers a demo account that you can use to practice and become familiar with their platform. LimeFX places all client funds in a segregated bank account and uses tier 1 banks for this purpose.

LimeFX vs. Pepperstone

All trading techniques such as scalping, hedging, rollover, and trailing stop are possible on the platform. LimeFX exclusively offers MetaTrader 4 and MetaTrader 5 for trading. Apps for iOS and Android are also available for those who want to trade on mobile. For trading aids, practical guides analyze, but also a direct support team is available to members.

LimeFX offers tight spreads on ECN accounts and commission-free spreads from 1.2 pips on standard accounts. With a range of accounts on the MT4 and MT5 platforms, LimeFX caters well to professional traders who are prepared to pay high minimum deposits for low ongoing trading costs. However, LimeFX offers a limited number of tradable assets, which may leave some traders dissatisfied. The minimum deposit on the site is $/€/£ 5, and the Forex Broker does not offer a regular bonus. It does, however, benefit from very tight spreads, which rise in the 0.4 pips for the EUR/USD.

To select one or more strategy managers, you will need to pay EUR/USD/GBP 100, which could be a barrier for those just starting out in trading and looking to make small deposits. As a member of The Financial Commission, there is an external dispute resolution process available. If a claim is made in the trader’s favour, you will have access to up to compensation to a maximum amount of EUR 20,000.

About the author


Leave a Comment