At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate limefx scam Trust Score here). Trading financial products carries a high risk to your capital, particularly when engaging in leveraged transactions such as CFDs. It is important to note that between 74-89% of retail investors lose money when trading CFDs. These products may not be suitable for everyone, and it is crucial that you fully comprehend the risks involved.
- They look after the needs of their clients through quality customer support and they have regular promotions such as a free VPS service.
- A forex trading platform is in essence the software provided by LimeFx to its clients to carry out their trades.
- These include Visa/MasterCard, wire transfer and eWallets such as Neteller and Skrill.
- Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process).
- But, in case you have changed your mind, you can contact the representatives of the broker and use a different one.
We believe that LimeFx scores fairly well but not great overall on fees. The spreads are not the best you can find, but trading costs can be reduced with the zero spread account. As we can see the trading costs of trading via the Zero spread account are lower. These savings can be much great when you trade other instruments with wider spreads on the Standard account. Across is Standard and Micro accounts, LimeFx looks to make money on the trading spread rather than charge commissions. Whereas with the Zero account, there is no spread and instead ZM charges a commission on every trade.
Trading Instruments
One of the policies that LimeFx follows is negative balance protection, which is specifically important for those who use leverage when trading. Leverage is quite a useful thing for Forex traders, as it can amplify the profits made during trading. There are 30 trading charting indicators available on the mobile apps and you have the full range of trading instruments to choose from with these apps. On the MT4 platform you can trade all the instruments available at LimeFx including Stock Indices, Forex, Precious Metals and Energies.
The Learning Centre hub is another area of the site for traders to learn their craft. We are impressed with the selection of educational videos, platform tutorial videos, whilst the LimeFx Live video feed is a service you will very rarely see with rival brokers. The website suggests that LimeFx offers 1377 instruments, but the vast majority of these are stock CFDs.
(See Trading Costs for a comparison of the spread versus commission account models). The fees and commissions charged by the broker are quite competitive when compared to other Forex brokers. While the Forex spreads might be a bit higher when compared to other brokerages, everything is still very much in line with general market standards. The spreads are greatly variable and depend on the underlying exchange. In addition to this, in order to create this account, you will be required to deposit at least $10,000.
Education & Research Tools
It is an ideal learning ground for beginner traders and with three different account types, they cater for all kinds of traders depending on what their specific needs may be. The only platform that is offered by LimeFx is MetaTrader, which is an industry standard trading platform. They offer both MetaTrader 4 and MetaTrader 5 and they have tweaked them slightly to suit the specific needs of their users. The cutting-edge technology of the MT4 platform provides automated trading as its fully integrated feature, executing repetitive trading orders at a speed otherwise impossible with manual trading. For many investors this saves up a considerable amount of time from the routine of market watch as well as trade execution.
Withdrawal fees
Furthermore, there are trade idea and technical summary sections, alongside the economic calendar. In addition, there is the impressive LimeFxTV and also a podcast offering. The most impressive feature offered by LimeFx is its extensive educational material, alongside a very notable research offering. The educational package includes webinars, platform tutorials, seminars, podcasts and their online TX channel, LimeFx TV. On the educational side we would say that LimeFx is right up there with the industry leaders with their educational package. The commodity offering is at least in line with the industry standard with 15 different commodities to trade.
Compared to rival brokers, LimeFx charges inactivity fees very quickly, however not as expensive as other brokers. The following table shows how LimeFx measures up against some of its rivals across the most widely traded forex positions. On both a minimum and average spread basis, LimeFx comes up second best. We believe that LimeFx’s spreads are reasonable but not as competitive as some rival brokers.
Plus, there are a further 43 video tutorials on all aspects of using the MT4 platform. In this example, we can see an overview of Apple (AAPL) stock with key information such as margin requirement, min/max trade size and more. This in-depth overview only adds to the overall experience for traders and is in-line with LimeFx’s beliefs around transparency and education of its clients. In the forex markets, currencies trade against each other as exchange rate pairs. The EUR/USD would be a currency pair for trading the euro against the U.S. dollar, for example.
This is prompt and fairly standard across the industry but still a good response. It is up to the individual trader to decide how comfortable they are trading with a dealing desk broker. The mobile versions of MT4 and MT5 translate extremely well from the desktop versions, also allowing excellent interaction between devices. The 3 chart types and 30 technical indicators of MT4 migrate well, whilst there is also push notifications for trading alerts. Notable countries that traders will not be able to sign up from including the US, Canada, China and Japan.
A forex broker acts as an intermediary, providing traders with platforms to access the forex market. They execute buy and sell orders, offer leverage for larger positions, and manage various types of trading accounts. Brokers offer customer support, educational resources, https://limefx.group/ and risk management tools. Overall, forex brokers facilitate trading, provide tools and support, execute orders, and ensure adherence to regulations. The global foreign exchange (forex) market is the largest and most actively traded financial market in the world.
Prior to dabbling into margin trading, each reader should take the time to determine their individual investment goals, risk tolerance, and level of expertise. Our main objective is to help readers make better-informed decisions when choosing online brokers and learn the foundations of trading rather than providing financial advice. Please consider contacting a professional advisor if you require any financial assistance. For traders outside Europe and under the LimeFx Global entity, there are bonuses available.
One of the biggest advantages of LimeFx is that it has a highly skilled and professional team of customer support agents. These specialists are always able to provide traders with accurate and timely information about the questions they might face. Here, you can find the most popular trading platforms such as MetaTrader 4 and MetaTrader 5, or go with the custom-made trading platform of LimeFx. Taking your first steps at LimeFx is a very easy and user-friendly experience. This process should not take you longer than a day as the broker has adopted modern technology to ensure the verification of their clients is timely and comfortable. When working on the LimeFx rating, we kept in mind that this broker also offers clients an Islamic account option.
There is also a mobile application available for the trading platforms offered by the broker. This makes it very user-friendly and ensures that no matter where you go, you will always be able to keep in touch with the Forex trading market. Once you have downloaded the trading platform and you have deposited funds, it is time for you to start the market analysis. LimeFx offers some of the best trading platforms available in the market, all of which allow you to do a very extensive and detailed market analysis. This is an important factor in making it in the Forex trading market.
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