Forex Trading

LimeFx trading app Apps on Google Play

LimeFxfx forex

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.

Does LimeFxFX have a withdrawal fee?

For this reason, LimeFxFX is one of the better choices if you require a Sharia-compliant Swap Free Islamic Accounts. Their live chat team is mostly based in St Lucia or Cyprus and is 24/7. Multiple times, we asked questions regarding things such as deposit options and broker regulations, and we were met with a long pause, followed by less than sufficient answers.

Research and Education

Regarding account currency, if you join the LimeFxFX European subsidiary, you will use Euros. All other clients will be using USD as the account currency, so if you are in the UK and prefer GBP as your account currency, you cannot choose it. LimeFxFX only has a spread-only account, meaning no commissions are charged in addition to the spread. Though it has been granted regulatory status in Cyprus and South Africa via an intermediary (Orinoco Capital), LimeFx’s lack of additional reputable licenses heavily weighs down its Trust Score.

LimeFxfx forex

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He has a Masters and Commerce degree and has an active role in the fintech community. Some of these educational webinars could be useful, but they are only really suitable for absolute newbies.If you want advanced trading education, look elsewhere. LimeFxFX has quite an extensive research and education section on the company’s website. There’s an economic calendar and regular news updates, which could be useful if you must keep up to date with the latest fundamentals. We think it is odd that LimeFxFX does not have an email or phone contact and we thought their live chat could be more knowledgeable. This wasn’t good, and we’d like to see LimeFxFX improve greatly in this department.

Withdrawal Methods And Fees

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). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables. 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. It’s worth noting that LimeFx’s primary execution venue is one of its own entities in St. Lucia. LimeFxFX provides demo accounts that are accessible with both MT4 and MT5. The trial period for these accounts has no time restrictions, making them a perfect platform for practicing and testing trading strategies.

LimeFxFX Forex Review: Fees, Safety, Platforms

If you are outside this region, we can’t fully recommend LimeFxFX as you will be trading with their subsidiary based in Saint Lucia where they only need to register as a company. Regarding education, there are platform tutorial videos and a basic forex trading course, which would probably be okay for absolute newbie traders. When determining if we could add funds to our account via a simple bank transfer, the customer support person in the live chat couldn’t verify that a bank transfer was an option. Apart from that, LimeFxFX offers you the ability to deposit and withdraw using e-wallet services such as Neteller and Skrill.

LimeFxfx forex

Further researching the deposit options, we concluded that bank transfers and credit cards were entirely off the table for Australian traders trying to get funds into their accounts. LimeFxFX is extremely limited regarding payment method options for funding a trading account. LimeFxFX allows you to trade on one of three different trading platforms. MetaTrader 4 (MT4), MetaTrader https://limefx.biz/ 5 (MT5), and LimeFxTrader, an in-house white-label program. While the above module takes the spreads from the broker’s website, we at CompareForexBrokers have done our own testing using 20 MT4 brokers to find out their average spreads. As seen in the module below, we found LimeFxFX spreads to be largely average for major FX pairs, and disappointing for cross-pairs.

LimeFx has improved its educational offering with webinars and live trading session recordings and expanded its educational articles and videos. I appreciated that it has begun producing videos on advanced topics, such as Elliot Wave trading. ForexBrokers.com has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research.

Saint Lucia allows companies to self-regulate as long as they comply with the country’s laws. This means clients with LimeFxMarkets don’t have any form of regulatory protection so you can only trust LimeFxFX operations meet the standards you would hope. As this subsidiary is not regulated, LimeFxMarkets can be called an offshore broker.

Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry. LimeFx is an up-and-coming broker that has been in operation for nearly 10 years. Its growth has enabled LimeFx to continue to expand its products and services.

  • MetaTrader 4 (MT4), MetaTrader 5 (MT5), and LimeFxTrader, an in-house white-label program.
  • LimeFxFX has quite an extensive research and education section on the company’s website.
  • Apart from that, LimeFxFX offers you the ability to deposit and withdraw using e-wallet services such as Neteller and Skrill.
  • Many brokers offer a swap-free account and while we are not experts in sharia law, we suspect they may not be truly sharia compliant.

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).

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 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 limefx scammers 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.

LimeFx does have a proprietary app for social copy trading (the LimeFx Copytrading app), yet it still trails behind industry leaders such as IG and Saxo. Having traded since 1998, Justin is the CEO and Co-Founded CompareForexBrokers in 2004. Justin has published over 100 finance articles from Forbes, Kiplinger to Finance Magnates.

Our spread module indicates that with LimeFxFX, you are paying more than your competitors, so it may be better to consider trading with other brokers. Since the broker has no swaps for all trading accounts as a default, there is no need to have a special Islamic swap-free trading account. Our in-house spread scanning software gave us an idea of how LimeFxFX spreads compare to other brokers.

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