They round out their services with a variety of professional accounts, introducing broker (IB) branding and a portfolio management program. They recently added cryptocurrency coverage to a broad selection of forex, spot, and CFD trading products. Earlier in 2018, LimeFx announced a partnership with EmurgoHK to open a cryptocurrency exchange, but the launch date hasn’t been announced. With respect to customer service, the broker provides decent contact options and support in 45 languages, which could be a plus. The trading competition might also be an incentive to open an account, and the broker’s support for the popular MT4 platforms seems to be the best feature of this broker.
While Metatrader 4 and 5 are a bit outdated with some clunkiness, they provide reliability and vast functionality that frequent traders need. LimeFx opened for business in Cyprus in 2010 and has now expanded into more than 180 countries. In addition to EU regulation through the Cyprus Securities and Exchange Commission (CySEC), they are licensed as a registered investment firm in the United Kingdom, Australia, and South Africa. LimeFx has closed down operations in China, Russia, and Nigeria in recent years, focusing client development in more traditional venues.
- This volatility is what makes forex so attractive to traders as there is the potential to make high profits while also increasing risk.
- Remember, the realm of trading is imbued with risks, and it is plausible to lose all your capital.
- Metatrader 4 and 5 for Android, iOS, and Windows Mobile provide easy integration with desktop and tablet versions.
- Diversify your trading portfolio by buying and selling stocks online and maximize benefits from our access to globally trending brands like Lloyds, Apple, and Google.
- The “Live Economic News” showed up to date reports, but “Live Currency Quotes” produced a dead link.
- Futures, as derivative financial contracts, necessitate a mutual agreement between buyer and seller to trade assets at a predetermined future date and price, regardless of the market price at the expiration date.
FOREX.com, registered with the Commodity Futures Trading Commission (CFTC), lets you trade a wide range of forex markets with low pricing and fast, quality execution on every trade. In addition, the broker provides affiliates, professionals and investment portfolio managers with a Personal Multi Account Manager (PMAM). LimeFx also offers a virtual private server (VPN) that provides enhanced connection speed, continuous uptime and added security. An FX withdrawal takes between one and ten business days, dependent on the payment processors and the geographic location of traders. The minimum deposit at LimeFx is $50 for most accounts, except for the Zero Spread option, which requires $500. LimeFx received numerous awards for various aspects of its competitive trading environment.
Products and services
The list of Forex, spot, and CFD trading instruments is well-constructed but some rivals offer more comprehensive listings. Pricing for Forex, spot, and CFD instruments is average-to-competitive, with significantly lower costs at higher account tiers. There’s no bond CFD coverage but spot, metals, and index products cover the most popular instruments worldwide. And Ireland clients can also place spread bets, although the costs are not fully disclosed.
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I like the trading environment at LimeFx in the Absolute Zero account due to its competitive trading fees. LimeFx is an ideal broker for Forex traders due to its above-average choice of currency pairs. The well-structured trading environment and dedicated customer support team, make it a great broker to register with. LimeFx, in its pursuit to accommodate every trader’s unique needs and trading preferences, https://limefx.biz/ provides a spectrum of trading account options. We amalgamate competitive trading environments with minimal spreads and adaptable leverage, enabling traders to navigate the financial markets with ease and efficiency. LimeFx stands as a distinguished global online broker, providing a broad spectrum of trading instruments, inclusive of Forex, Metals, Futures, Commodities, Shares, and Indices.
CFDs on spot commodities serve as an ideal entry point to commodity markets, allowing clients to trade with premier spreads and spot execution, devoid of any foreign exchange exposure. Benefit from world-class market analysis and research, delivered daily by our seasoned team of market analysts, and diversify your portfolio with Crude Oil, Coffee, and Sugar. Investopedia is dedicated to providing investors with unbiased, comprehensive reviews and ratings of online brokers.
LimeFx Regulation & Security
It takes just $100 to open a Micro account, increasing to $2,500 for a Premium account and $20,000 for a VIP account. Well-documented account subheadings outline fee schedules and side-by-side comparisons for floating vs. fixed, commission vs. no commission, and dealing desk vs. direct interbank trading. All withdrawals incur fees that vary among credit cards, electronic tellers, and bank transfers/locations. LimeFx could be a good starting broker for new and intermediate retail traders, although more professional traders might look for a broker with additional research resources and assets. LimeFx accepts traders resident in most countries except the USA, Iran, Cuba, Sudan, Syria, and North Korea. The FAQ section answers the most common question, and live chat is available with fast response times for basic questions.
What is a Currency Pair?
We established a rating scale based on our criteria, collecting over 3,000 data points that we weighed into our star scoring system. They operate a counterparty dealing desk, raising conflict of interest issues, but offer direct interbank trading access in some account types. They provide no guaranteed stop-losses but negative balance protection is now mandated under ESMA rules. Secondary security features are unimpressive, with standard encryption at the website and no two-tier platform authentication beyond Metatrader’s one-time passwords (OTP).
The former is fully customizable, while the latter is only available as a USD option with a default balance of $100,000, where traders can select their desired leverage. LimeFx lists no expiry times, which is great, as all demo traders require unlimited access. While I recommend the Absolute Zero account for traders, the Demo Floating Spread offers the most realistic demo trading environment.
These numbers may be deceiving, given the broad variety of accounts, fees, and routing choices. Spreads drop significantly on major Forex pairs between Micro and VIP tiers but minor pairs show no variation. In addition, tiers apply only to forex, with all account types paying similar spreads and/or commissions when trading CFD or spot instruments. Several pages not properly linked to the main site announce the availability of cryptocurrency trading but our reviewer found no contract, spread, or fee information. Traders should also consider potential third-party processing costs and currency conversion fees.
LimeFx’s commitment to fostering a seamless trading experience is further demonstrated by its provision of 24/5 multilingual support in over 30 languages, available via email and live chat. In addition, every broker we surveyed was required to fill out a 320-point survey about all aspects of their platform limefx scam that we used in our testing. Many of the online brokers we evaluated provided us with in-person demonstrations of their platforms at our offices. LimeFx primarily makes its money from dealing spreads, although you might have to pay additional fees depending on the asset and type of account you choose.
Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information. LimeFx prides itself on creating a revolutionary online trading environment, granting extensive access to a broad and versatile array of trading instruments spanning across six distinguished asset classes.
Forex trading involves a network of buyers and sellers who transfer currency between each other at an agreed price. A lot of foreign exchange is done for practical purposes, but the purpose of most currency conversion is to earn a profit. Remember, the realm of trading is imbued with risks, and it is plausible to lose all your capital. Approach every trading opportunity with informed decisions and risk-management strategies to optimize your trading journey’s success and sustainability. We publish unbiased product reviews; our opinions are our own and are not influenced by payment we receive from our advertising partners. Learn more about how we review products and read our advertiser disclosure for how we make money.