It is safe and has the necessary security tools in place, and also has a lot of good trading conditions. Honestly, I was having a lot of doubts before I started working with this brokerage company because I have not heard a lot about them. Anyway, after reading some reviews I decided to give it a shot and signed up for this company. To my surprise everything was better than I expected, I didn’t have any problems with the registration process. Like, they dont lure you in with leverage, dont create 15 account types. They dont have their own cooked up half-working trade platform, instead its tried and tested MT4 which is the best trading platform for retail by far.
LimeFx Review
For example, the EUR/USD currency pair is the most liquid currency pair in the forex market, so it generally has the tightest dealing spread. If an important news event occurs, such as a key economic data release, the EUR/USD dealing spread can widen considerably depending on how much market volatility the event causes. Trading Brokers Trading Brokers is dedicated to bringing you unbiased broker reviews, the latest broker news and trading guides to help you along your trading journey. We have over 20 years of experience when it comes to trading online so we know what to look for. Applications for Corporate trading accounts should be submitted when a Legal or Registered Corporation intends to open an account.
Is LimeFx regulated?
This type of trading model levels the playing field with more transparency and a greater degree of control over your trades. Whether your new or an experienced trader, a risk-free demo account is a great way to experience the benefits of ECN trading with LimeFx. You can practice your forex trading skills or test new strategies without making a financial commitment.
Trading Hours
Maybe the broker still has space for improvement, for instance, to add some commodities for trading, but I am into forex pairs trading predominantly. Accessing the MT4 app through an LimeFx account is also straightforward, requiring only 3 easy steps, while mobile traders get the same tight spreads and reliable execution provided by the broker. Ordinarily, we prefer to see a choice between a commission-free account (geared towards beginners) and one with raw spreads and low commissions (geared towards advanced traders). However, LimeFx has outdone many competitors by offering the kind of tight spreads you’d expect from ECN accounts without charging a commission. The overall trading environment at LimeFx features a low cost structure and competitive asset selection, .
Set of conditions
Bank wire transfers are on the slow end, taking between five and seven business days for both deposit and withdrawal requests, while crypto transactions are usually fast, taking 15 minutes or so. To avoid these charges, I recommend using Visa or Mastercard bank cards, as I found these do not incur a fee. The platform allows orders to be placed in a variety of ways, including trading directly from charts.
- You get free access to the MT4 trading platforms along with educational materials and useful trading tools to enhance your trading experience further.
- There is much written about the ECN XL account they have crafted and its reputation as one of the best account types is well deserved.
- LimeFx could offer more in terms of trading tools and reduce or eliminate its withdrawal fees, but these are minor complaints.
- First and foremost, LimeFx broker has proved its competence as a mediator within certain period.
- While they could make some more account options, the only account available fits all kinds of trading strategies..
LimeFx was launched in 2010 by a group of forex experts aiming to create a competitive and supportive trading experience for clients through transparency and high trade quality. Our team highly rates LimeFx’s forex offering, which includes 72 major, minor and exotic currency pairs and is on par with competitors like OANDA, which offers 68 pairs, and Forex.com with its 82 pairs. I am happy with the selection of fee-free funding methods accepted by LimeFx, which supports Visa/Mastercard, bank wire transfers, cryptocurrency and four e-wallets – Skrill, Neteller, EeziePay and AWEpay.
I’ve never experienced a broker like this one , I get my withdrawals same day with BTC. Trading conditions and execution time is out of this world.What mostly makes me happy the most is the 0 spread and zero commission. My only disadvantage is that you are limited to 50 lots per trade so you have to open multiple orders. 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.
We are also disappointed with LimeFx’s monthly inactivity fee of $5, imposed when your account is not funded or you execute no trades over a period of 120 days. While this type of fee is not unusual, LimeFx imposes it after a relatively short period of time, especially compared with OANDA, which only charges its $10 inactivity penalty limefx reviews after 12 months. 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. Islamic traders will also be pleased that a swap-free account is available upon request.
MiFID provides a harmonized regulatory environment for investment services across the European Economic Area (EEA). The broker uses a price aggregator to ensure that counterparty orders use the best bid and ask prices currently available. The European branch is licensed by the CySEC, a reputable regulator, and the brokerage has earned a good reputation with over 10 years in the business. Having tested hundreds of forex brokers, I feel that the LimeFx’s education section is fairly average, with a decent range of materials available but nothing that stands out. 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.
LimeFx supports the MT4 mobile trading platform that provides excellent trading features you can also enjoy when using the MT4 desktop platform. Not only can you select from a wide range of charting tools and technical indicators with this app, but you also get real time market pricing. In addition to offering free access to a Virtual Private Server (VPS), LimeFx currently offers an attractive bonus to account openers. You just open an account and make a deposit to receive an impressive 100% deposit bonus in your trading account up to a maximum amount of $2,000. Terms and conditions do apply to this promotion, especially when it comes to making withdrawals, so make sure you read and understand them before making a deposit. The broker uses an electronic communications network (ECN) and straight through processing (STP) model, which provides competitive exchange rates and real time streaming directly from top multibank liquidity providers.
I rank trading costs among the most defining aspects when evaluating an exchange, as they directly impact profitability. LimeFx offers traders a competitive commission-free trading environment. The EUR/USD spread ranges between 0.0 pips and 0.3 pips, with occasional spikes during the market news and trading https://limefx.name/ session breaks, which LimeFx transparently displays on its website. LimeFx deploys an ECN/STP execution model and does not manipulate quotes. We are committed to our clients’ success, by delivering competitive pricing, via the fairest and most transparent order process in the retail forex trading market.
LimeFx holds a regulatory license from the Cyprus Securities and Exchange Commission (CySEC). It also operates an unregulated but duly registered subsidiary in Vanuatu, where most international clients trade. Clients may also use their Facebook or Google accounts to open an account. Since LimeFx is a regulated and fully compliant broker, new traders must pass account verification per AML/KYC stipulations. A copy of the ID and one proof of residency documents usually satisfies this final step.
MT4 is provided by the majority of trading brokers due to its simplicity and user-friendly interface. In addition, I appreciate how they provide access to the MT4 Multi Terminal that allows you to log in to unlimited accounts simultaneously. The broker that provides you with a competitive online trading environment and the required resources to help you get the best out of your trading. They are committed to your success, by delivering competitive pricing, via fair and transparent order processing. 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.