Look for brokers that offer convenient and secure methods of payment as well as reasonable withdrawal processing times. A newbie trader who wants to start trading in flexible trading conditions, especially without facing a demand of depositing a large amount of balance, will love the ideal ECN XL account of LimeFx. The overall user experience of LimeFx clients is satisfactory and our research based on the most popular review sites has enabled us to confirm the news. LimeFx got a 4.6 TrustPilot score which is excellent and reassures the broker as a trustworthy and good Forex Broker. If you decide to trade on the LimeFx platform it will be a winning game for you. Although the LimeFx broker didn’t set up any no deposit bonus for the traders but as a 1st-time trader you will get a 100% deposit bonus which is a maximum $2,000 limit.
Commissions/spreads
MetaTrader 4 trading platform comes with its own built-in language for programming trading strategies. MQL4 allows you to create your own EA (Expert Advisor) and automate your trading based on your own programmed strategy. Using MQL4 you can build-up your own library of custom indicators, scripts and function database. 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.
Reasons plus to Choose LimeFx As Your Trading Broker
According to LimeFx, many of the procedures the broker has adopted “go beyond” the basic rules and regulations imposed upon it in various countries. The broker monitors all financial requests, making sure that they are safe. LimeFx ECN XL account holders pay no commissions to trade any supported asset. Dealing spreads for forex pairs and CFDs can vary from 0.0 pips upwards https://limefx.group/ depending on the liquidity and trading volume of the asset involved. The ECN account type is so alluring and unique since it has very cost-effective fee structures, raw spreads, and Forex trades with a notable edge. So if a completely new trader wants to practice on an LimeFx demo account and start trading in a live account with confidence then he might get disappointed.
Unique Features
All of its clients receive the same access, and all trades are executed immediately, with no delays or re-quotes. The broker doesn’t take the other side of trades, which differentiates it from Dealing Desk brokers. Client orders, stops, limits, and trades are executed with counter-parties, meaning LimeFx is firmly on the client’s side. LimeFx uses state-of-the-art Secure Sockets Layer (SSL) network security protocol to keep client private information safe.
- Furthermore, all client funds are held in accounts with major international banks and kept segregated from LimeFx corporate accounts.
- If you are a person looking for an ideal trading platform that will cost you the least amount of money then you can consider the features offered by the ECN XL account.
- The very first thing I noticed when I started trading with the ECN XL account was the instant execution.
- LimeFx enhances the mobile trading experience by offering the MT4 application, compatible with iPhone, iPad, and Android devices, ideally suited for day traders.
Deposits & Withdrawals
There main objective is to empower clients with all the tools they require, to develop their skills, whilst enjoying an unrivalled trading experience, during every step of their journey. 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. As the forex market operates 24/7, it’s essential to choose a broker that provides reliable and responsive customer support. Look for brokers that offer multiple channels of communication, such as live chat, email and telephone support. Test their customer service beforehand to gauge their responsiveness and knowledge.
LimeFx uses a no-dealing desk model and does not act as a market maker, reducing the risk of price slippage or a conflict of interest by the broker. Our team rates LimeFx’s execution model, which combines straight-through processing (STP) and electronic communication network (ECN) to ensure fast and high-quality execution with low pricing. 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. Applications for Corporate trading accounts should be submitted when a Legal or Registered Corporation intends to open an account.
Traders have access to numerous deposit and withdrawal options at LimeFx. Quotes remain sourced from multiple liquidity providers and matched for the best possible execution. Your trading opportunities and potential success is automatically enhanced by using our straight through processing order fulfilment, in an ECN (electronic communication network) environment. I had to withdraw my money as I needed a broker with lower spreads on crosses.
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. FOREX.com caters to limefx official site forex traders with a wide selection of currency pairs, low account minimums, and a notable trading platform. It’s a suitable option for traders seeking a home base for their currency trading.
The agents were friendly, and provided suitable answers to all my queries, in a personalized manner with no frustrating chatbots in sight. Similarly, the ‘Market Analysis’ section had a focus on just three currency pairs during testing which is not wide enough in my opinion. LimeFx’s limited research and technical analysis tools are disappointing, especially given how useful these tools can be for discovering trading opportunities. Besides the very frustrating withdrawal charge, LimeFx’s non-trading fees include a $5 inactivity fee charged after 120 days of dormancy. I really like the ‘average spread tool’ available on the broker’s website which displays fees over recent trading sessions.
After MT4, I would prefer MT5 as the second choice because of its additional features including more timeframes and built-in tools. If you are looking for more platforms, then RoboForex could be an option for you as they have a good selection. That’s a key factor for me and that’s why I decided to join them and I can say since the moment I started trading through this broker I didn’t have any problems. LimeFx is good for day trading thanks to its very tight spreads in the ECN account, leverage trading opportunities, and access to the fast and dependable MetaTrader 4 platform. 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, this is still a powerful platform that will provide everything needed for experienced traders to conduct technical analysis while also being intuitive enough for beginners to pick up easily.
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. The broker has solutions for money managers and those of you who want to copy trading signals from other trades. However, there aren’t any individual stocks to trade and there is an inactivity if you do not trade enough.
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.
I can’t say that my experience here leaves a lot to be desired, because the set goals were reached and I am satisfied with it. Depending on the scope of your trading and the assets you plan on trading, LimeFx might not meet your needs. This is especially true if you plan on trading physical cryptocurrencies or any of the commodities traded through CFDs.
Our LimeFx review experts found that the ECN Standard account had the easiest entry point with an initial deposit of $100. The ECN XL and ECN Advanced accounts require deposits of $10,000 and $100,000 respectively. Traded here for a while initially on demo, then traded couple of months on a live account. Everything was okay, yeah sometimes I made fatal mistakes, but as I learned, traders should never give up, so do I. Certainly, LimeFx stores its clients’ funds safe and uncontaminated from its corporate money. The broker keeps its clients’ funds in a different segregated account to provide the utmost safety.
All the clients’ funds are kept in a secure and guarded segregated account so that clients’ funds continue to be unaffected by any system crush or unprecedented hacking. Moreover, 11 eBooks have made the LimeFx education section fulfilled with contentment. So our suggestion is, to practice trading on a live account in a micro lot with a small amount so that if the trade goes negative it doesn’t make you lose a big sum of money.
FOREX.com offers a comprehensive education and research center with free forex trading courses for various skill levels. Plus500 is a derivatives broker based in Europe that offers forex trading (and more) for a host of traders, especially the most advanced traders or those who prefer to trade on mobile. The platform has all the information you need on the assets in which you choose to invest, and you can start buying into the foreign currency market if you’ve always planned to add currency pairs to your portfolio. 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.
Certainly, to use the Islamic or swap-free account a trader doesn’t need to pay any charges. So if you are a resident of any Sahara law-based Islamic county then you can request a swap-free account. But bear in mind that only LimeFx can decide whether they will allow you to use the swap-free account or not. LimeFx has a top-notch partnership program and under this program, you are getting high-end commissions, a wide range of marketing materials, a tailor-made partner portal, global payment options, and advanced tracking.