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. Still, LimeFx has done well by providing an attractive, affordable and simple account option for day traders who will appreciate having no trading restrictions or minimum deposit requirements. 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. With LimeFx, traders will find a selection of Forex tools that they can use, including Forex calculators, live quotes, market hours, current trading positions, interest rates, and roll call.
First Deposit Bonus
LimeFx has earned a good score for its fees due to the tight ECN spreads combined with no commissions, an unusual pricing model that places this brand among the cheapest forex brokers we have reviewed. On the downside, LimeFx supports accounts in just a few currencies (USD, EUR, GBP), with USD only for wire transfers. As a comparison, Fusion Markets offers 10 deposit currencies, which can help prevent the need for often costly conversions. LimeFx provides customer support via various channels, available to assist traders responsibly with their queries or technical issues. Certainly, LimeFx offers educational materials and market analysis to enhance traders’ knowledge responsibly. LimeFx offers MetaTrader 4 and MetaTrader 5, renowned for their reliability and robust trading features without promoting speculative trading practices.
Forex Trading Account Types
Skrill Ltd. is authorised by the UK Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money. Neteller is authorised by the UK Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money. Above all, our experts assess whether a broker is trustworthy, taking into account their regulatory credentials, account safeguards, and reputation in the industry.
Should You Trade With LimeFx?
To evaluate brokers, we test the accounts, trading tools and services provided. Over 100 data points are considered, from minimum deposits and trading fees to the platforms and apps available. Our broker ratings are also informed by the experience of our researchers during the evaluation process. The diversity of financial instruments which this company offers to customers is really huge. They have been running the business for over 14 years, so it seems they managed to add a lot of instruments for all this time. I like how tight spreads they provide on the forex market and the spreads are even more tighter than from other major and famous brokers.
- Our preferred partner for accessing the markets is MetaQuotes Software Corporation, the creators and developers of the world renowned, award winning and most popular FX trading platform there is, MetaTrader 4.
- LimeFx runs bonus offers in certain jurisdictions, and when I opened an account with the global entity I was offered a 100% deposit bonus up to $2000.
- These tools provide insight into trading Forex, keeping traders up to date with the latest trends.
- There are a few features that indicate that LimeFx is a good broker for beginning or new traders.
Trading platforms
Spreads are slightly higher on alternative products, while the withdrawal fee and inactivity penalty lower its fee rating somewhat. The international subsidiary, on the other hand, operates with limited oversight, and this holds the broker back from achieving a higher score. I used the live chat function on several occasions and received timely responses in a few minutes each time. The agents were friendly, and provided suitable answers to all my queries, in a personalized manner with no frustrating chatbots in sight. I’ve also read much of the educational content and was struck by its bland delivery with long-form text and limited videos or engaging elements like quizzes, all of which could elevate the learning experience.
We offer impartial reviews of online brokers that are hand-written, edited and fact-checked by our research team, which spends thousands of hours each year assessing trading platforms. I use LimeFx for forex trading and have been impressed with the huge range of currency pairs, transparent fees and reliable MetaTrader 4 platform. I think the client dashboard and website could do with an overhaul though – they are pretty dated. 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.
A Forex e-book and educational glossary are also included under the LimeFx “Education & Research” header. This feature indicates that LimeFx is perfectly fine with teaching new traders the ropes. Regulated by CySEC, LimeFx provides clients with access to a liquid Forex model (ECN). All of its clients receive the same access, and all trades are executed immediately, with no delays or re-quotes.
In this LimeFx review, we examine the broker across key categories, including its accounts and fees, trading platforms, and customer support, to find out how it competes with alternatives. These findings are based on our first-hand experience trading at LimeFx and take into limefx reviews account the overall experience for day traders. LimeFx has been around for more than a decade, and that experience in the industry has made it a well-liked broker. The educational tools offered, dedicated customer service, and zero commissions fees are all major bonuses.
The major international banks and financial institutions are responsible for the majority of this turnover. Through LimeFx and its ECN – STP model, clients can access this market in order to trade up to 28 currency pairs, from the recognised major currency pairs through to the minor and most exotic. Gain access to your LimeFx trading account in 3 simple steps – download, install and login to the mobile trading platform using your LimeFx account credentials.
At LimeFx we often use a motto that we have adopted over the years; “from small acorns great oaks will grow”. Every ECN trader starts somewhere that is why every LimeFx client is treated as an individual, a VIP, who will enjoy a personal, unrivalled level of service. Clients can open a ECN XL account with only $100 and enjoy the same level of dedicated full support and service as if they are a VIP client.
There are no commission fees, nor is there a minimum deposit, and spreads start at 0.0 pips for some assets. These cost-saving features, combined with the 24/5 customer service, make “user experience” high on the LimeFx priority list. In addition to the aforementioned Forex ECN XL trading account, LimeFx also offers a VPS and depending on regulation – deposit bonus. Clients can trade using a Virtual Private Server, which LimeFx says can give them three main advantages, including accessibility, security, and speed. Each and every trade clients place is matched in an electronic configured network (ECN), through a straight through processing (STP) method. These four critical factors ensure that LimeFx clients are enjoying the most transparent access to the FX markets.
MetaTrader uses its own programming language MQL4, which allows you to program your own automated trading robots. LimeFx assists clients trading through the MetaQuotes range of platforms, for example, MetaTrader 4 for PCs, MetaTrader 4 for mobile devices and the MetaTrader 4 MultiTerminal. As aforementioned, there are no commission or deposit fees required with this broker. As far as investor features go, traders will find a lot offered, including a wide range of products, the MetaTrader 4 platform, Forex tools, and Forex offers. 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 MT4 MultiTerminal successfully combines market leading functionalities that combines effective trading of many accounts and with exceptional usability. The programme interface is similar to that of https://limefx.group/ the MetaTrader 4 Client Terminal. It is a very simple innovative and intuitive process, that any trader familiar with using the MetaTrader 4 Client Terminal, can easily get acquainted with quickly.
Crypto traders can trade Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Monero, ZCash, Dash, and Ripple, and energies traders can trade spot US crude oil and spot UK brent oil. MetaTrader 4 includes a whole range of easy-to-understand functions, so it only takes a few minutes to get comfortable with all the different options available to you as a trader. The platform has a built-in “Help” function so you can get answers to the most common questions directly from within the software itself, so you can concentrate on the important stuff – trading. The platform allows orders to be placed in a variety of ways, including trading directly from charts. Embedded tick charts are an extremely useful way to determine accurate entry and exit points.
Launched in 2006, the MetaTrader 4 MultiTerminal is a now a respected and revered component of the MetaTrader 4 Online Trading Platform. The MultiTerminal is intended for simultaneous management of multiple accounts. This is an extremely valuable facility and platform for those who manage funds, or those who manage investors’ accounts and for traders working with many accounts simultaneously.