It is safe and has the necessary security tools in place, and also has a lot of good trading conditions. Like, they dont lure you in with leverage, dont create 15 account types. They dont have their own cooked up half-working trade platform, instead its tried and tested MT4 which is the best trading platform for retail by far.
- Licensed under CySEC, MiFID, and MISA, LimeFX provides competitive spreads starting from 0 with no trading commissions under its ECN XL account, making it an appealing choice for traders seeking low-cost options.
- We have not experienced any security concerns during our many hours using the trading platform.
- Because I get enough stress at trading, so I don’t need it outside of it.
- LimeFX is a regulated broker offering diverse trading instruments, including CFDs, commodities, currencies, cryptocurrencies, and indices.
- The broker’s strong regulatory oversight by CySEC, MiFID, and MISA, along with client fund security in Tier 1 banks, adds a layer of trust for its users.
On the downside, the offshore branch is unregulated, reducing the broker’s safety rating for global traders. The broker uses a price aggregator to ensure that counterparty orders use the best bid and ask prices currently available. The multiple industry awards are also a reassuring sign for us. The European branch is licensed by the CySEC, a reputable regulator, and the brokerage has earned a good reputation with over 10 years in the business. I find LimeFX’s in-house forex market hours tool a handy way to check holidays and other events that could impact trading hours. I do feel slightly let down that the LimeFX demo mode is limited to limefx courses scam 30 days, but I found that you can simply open another demo account after the first one expires.
Non-Trading Fees
Also, the offshore regulation for non-EU traders and expensive withdrawal fees are notable drawbacks. This app comes equipped with sophisticated charting tools, including 30 technical indicators, 9 different timeframes, and 3 varieties of charts, ensuring a comprehensive trading experience. 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 offers a decent selection of payment methods including standard card and wire transfers as well as crypto and e-wallet solutions.
LimeFX applies a spread-based fee for forex trades, with no additional forex-specific charges. LimeFX brand is an international brand that is registered and regulated in various jurisdictions and is committed to offering you the best possible trading experience. MetaTrader 4 trading platform comes with its own built-in language for programming trading strategies.
Licensed under CySEC, MiFID, and MISA, LimeFX provides competitive spreads starting from 0 with no trading commissions under its ECN XL account, making it an appealing choice for traders seeking low-cost options. You can even get a VPS service for free to keep your automatic trading bots running smoothly if your own Internet is spotty. 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 account the overall experience for day traders. The broker supports the popular MetaTrader 4 trading platform with multiple terminal capabilities and a multi-account manager. You can also access the LimeFX MT4 platforms on Android and iOS smartphones and tablets.
This works extremely well with MT4’s expert advisors for automated trading, and I frequently make use of it when trading on LimeFX. We are also disappointed with LimeFX’s monthly inactivity fee of $5, imposed when your account is not funded or you execute no trades over a period of 120 days. While this type of fee is not unusual, LimeFX imposes it after a relatively short period of time, especially compared with OANDA, which only charges its $10 inactivity penalty after 12 months.
Trading Platforms
LimeFX employs an electronic communications network/straight-through processing (ECN/STP) model, so you get tight forex dealing spreads from top Interbank liquidity providers. There are no commissions and tight spreads sourced directly from liquidity providers. While testing LimeFX, the EUR/USD was available at 0.1 pips and the EUR/GBP at 0.5 pips. LimeFX is an excellent low-cost choice for beginners due to its decent range of educational resources and free demo account – a great way to build up experience before trading with real capital. The $0 minimum deposit also makes the forex broker accessible for new traders.
Is LimeFX A Good Or Bad Forex Broker?
LimeFX is good for day trading thanks to its very tight spreads in the ECN account, leverage trading opportunities, and access to the fast and dependable MetaTrader 4 platform. LimeFX enhances the mobile trading experience by offering the MT4 application, compatible with iPhone, iPad, and Android devices, ideally suited for day traders. 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. This long-time industry favorite is starting to show its age after decades since its release, and we prefer for brokers to offer a selection of platforms with newer and slicker options, especially for beginners. 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.
LimeFX does not charge specific fees for CFD trading beyond the spread. 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. As for my experience of cooperation with this company, then everything is ok. calm trading and nothing else. Islamic traders will also be pleased that a swap-free account is available upon request. Above all, our experts limefx forex broker assess whether a broker is trustworthy, taking into account their regulatory credentials, account safeguards, and reputation in the industry.