LimeFxFX is also registered as a company in Saint Lucia, and its trading name is LimeFxMarkets. The customer service reps seemed not to be trained to handle very basic questions, so we imagine if you have a complex inquiry, you will be pulling your hair out. We tried to go through the process of opening and funding an account as an Australian resident (where we are located).
- You will also find this model has the advantage of no requests and very few rejections since market rather than instant execution is being used.
- Lastly, you can trade 30 different cryptocurrency CFDs on the LimeFxFX platform.
- The security of your funds – in terms of regulatory protection – will depend on which LimeFx entity holds your account, and which –if any – relevant regulations provide customer protections.
- Each platform runs on Windows, iOS, and Android, so no matter which device you trade from, you’re free to use the platform you like the best.
- All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor.
- It’s worth mentioning that the broker does have a blog and a YouTube channel, yet I was still left wanting more.
Is LimeFx a good broker?
Minimum deposits at LimeFx will vary depending on your country of residence and your chosen payment method. They can go as low as $25 (USD) when funding with Visa/Mastercard, to 50 euros (EUR) when using Skrill/Neteller to as much as 500,000 Indian rupees (INR). It’s important to note that minimum deposits and trading costs will also depend on which LimeFx entity you choose for establishing your trading account. LimeFx offers the full MetaTrader suite, albeit with a fairly limited offering of tradeable instruments.
Withdrawal Methods And Fees
Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Founded in 2011, LimeFx (formerly LimeFxFX) is part of a group of global entities, which include LimeFx Markets LTD (based in the island of Mwali) and LimeFx Markets Cyprus Ltd (based in Cyprus). LimeFx also provides financial services through its intermediary, Orinoco Capital (based in South Africa). For example, the “minimum expertise” field lets you choose between newer systems, all the way up to those with legend status. I was also pleased to see a risk score assigned to each trader, to help users differentiate between traders with historically conservative results versus those that have had more volatility and risk. It would be useful to be able to sort the columns from highest to lowest, but that feature is not yet available when looking at the Master Rating results page.
Research and Education
Copy trading is a cool concept, but we urge you to be very cautious about who you copy and do your due diligence into the skills and trading strategy of anyone you want to follow. The big changes in MT5 are increased charting options, such as timeframes and lesser-known technical indicators. Each platform runs on Windows, iOS, and Android, so no matter which device you trade from, you’re free to use the platform you like the best. On the plus side, the company has been around since 2011 and seems to have plenty of positive reviews across the internet.
Deposit Methods And Fees
Adding additional regulatory licenses in Tier-1 jurisdictions would be a step toward winning more client trust. LimeFx has struggled with pricing in the past, but has vastly improved in this category and is now gaining on the lowest-cost MetaTrader brokers. In addition, LimeFx boasts no slippage on 97.5% of its executed orders, and no overnight carry costs, yet has restrictions in place that can hinder high-frequency traders. The difference in leverage depends on the product trading, and where you’re located on the globe, due to which regulatory guidelines apply to your account.
Popular Forex Broker Reviews
But, even for simple questions, we didn’t find the customer service options impressive. All in all, LimeFxFX does have a good range of funding options but it does seem they are lacking in funding options you would expect to see such as BankTransfer and VISA. It is a similar story for credit card deposits, which seemed only to be available for certain countries, VISA for example appears only available for clients in the EU – very odd. The MT4 platform has ultra-intuitive charting options and all the most common technical indicators. It’s very simple to enter buy and sell orders, as well as set stop-losses, you can even use Expert Advisors (EAs) for automated trading.
LimeFxFX has a fair TrusPilot score of 4.5 out of 5 from 6,511 reviews as of this writing. We asked LimeFxFX who their liquidity providers are and while we don’t have a complete list they advised LMAX Global, Swissquote, Saxobank, and Euronext FX are some of them. limefx scammers Read our full explanation and accounting of our research and testing process to learn more about how we test. LimeFx has over 50 different payment options, such as Visa, Neteller, Fasapay and bitcoin, as well as a large variety of local bank transfers.
There’s no question – if LimeFx wants to compete with the best MetaTrader brokers, it needs to make improvements in its range of products and its research and education. Features like its trading glossary, platform tutorials, and dozens of Frequently Asked Questions (FAQs) help to flesh out LimeFx’s educational offering. That being said, there isn’t much educational content for learning how to trade or understand market dynamics. It’s worth mentioning that the broker does have a blog and a YouTube channel, yet I was still left wanting more.
Uniquely, the company hosts regular webinars, with topics such as Fibonacci analysis, trading psychology, and broadcasts where you can watch one of the company’s traders for an entire trading session. Lastly, you can trade 30 different cryptocurrency CFDs on the LimeFxFX https://limefx.club/ platform. These include all the most common cryptocurrencies, but looking at the live quotes, they were wide, we’re not sure we’d ever want to trade crypto on this platform. To make the demo account interesting, LimeFxFX has a demo contest for which you win prizes.
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 Trust Score here). There are 35 currency pairs to trade for most traders across the globe, but only 28 pairs are available if you live in the European Union. While 35 pairs mean LimeFxFX offers all the popular pairs to trade with, less popular pairs can be more volatile which means more opportunity to profit from this volatility. For both account types offered by LimeFxFX, spreads are floating and start from a minimum of 0.8 pips and have an average of 0.9 pips for the EUR/USD currency pair. This means the trading spreads will get either tighter or wider, depending on market volatility, time of day, and other factors. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.
The main advantage of this platform is easier sign up and less hassle when making deposits and withdrawals. LimeFxFX also offers the chance to trade energy products like Texas Crude, Brent Crude, and Natural Gas. If you’d like to trade stock market indices, pick from one of ten major global indices.
We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points. We think LimeFxFX is a very mediocre option for currency and CFD trading due to the lack of account options, expensive trading spreads, and rather average customer support.
Each month, up to $1000 in real prize money is available with $500 for the winner, $300 for the runner-up, and $100 for third place. You will also find trading available with micro lots, mini lots, and standard lots with the spread variable or floating. We should also mention you shouldn’t get requotes or rejections since market execution rather than instant execution is used. Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site. All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Generative AI tools are not a part of our content creation or product testing processes.
In South Africa, LimeFx provides financial services to clients through an intermediary, Orinoco Capital, which is licensed by the Financial Sector Conduct Authority (FSCA). LimeFx has made great strides with its pricing options for traders and its educational content, but suffers from a limited range of tradeable instruments. LimeFxFX Best Forex Demo Accounts are available with MT4 and MT5 and have no time restriction on the trial period. With this in mind, the demo accounts are effectively a practice account. You can use all features including all the trading products available for trade and Expert Advisors for automation. If you are of the Islamic faith meaning you comply with Sharia law then this account is one of the best options on the market.
When questioned further, the same customer support person couldn’t verify if we could deposit via a credit card and advised us that we could probably use cryptocurrency to deposit. If you’re a more advanced trader, and you want more sophisticated tools, you may consider Pepperstone, Vantage, or IC Markets with a broader range of platforms. The LimeFxFX platform is essentially a white-label licensed version of MT5.
You can utilise all of the features available for trading, including expert advisors for automation. Additionally, you can trade with all the trading products available on the platform. Both accounts offer most features found in a standard account with similar types of brokers.