Should you need it though, the customer service team is available through live chat, phone, and email to deal efficiently with any problems that may arise. LimeFxFX mobile trading is also well catered for through their own mobile trading platform aside from the huge industry giants already mentioned. Again the platform is available on all mediums and a webtrader is offered. The platform also provides for a wealth of more than 50 charting tools and indicators, and caters for auto and copy trading through its EA feature. The minimum order size you can expect when trading with LimeFxFX is 1 micro lot. This is the same as 0.01 standard lots, or equal to $1,000 in cash value.
- Another thing we should note is that in the case of LimeFxFX, we assume the spreads haven’t been widened.
- It is the perfect opportunity to trade in a no-risk environment with virtual funds, but which also perfectly replicates live trading.
- Meanwhile, there are also not too many deposit or withdrawal methods available, but the main ones are included.
- LimeFxFX offers a great demo account that is easy to sign up for, just needing the most basic of your personal information and an email address.
This trading model is called straight-through-processing (STP) or electronic communication networks (ECN) and is used by many brokers that don’t use a market maker execution model. 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. Managing risk is of course a vital element for any forex trader and broker combination. LimeFxFX utilizes all of the tools that are in place with your trading platform to help you to do this. The only exceptions here may be in the case of your deposit not matching the base currency on your account, you would then have to pay a conversion fee.
MetaTrader 4
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. The main appeal of this broker is that you can use it if you want unlimited swap-free trading. This feature is a unique offering given that most brokers limit the swap-free period, replace the swap fee with an administration fee, or require you to prove your Islamic faith. Aside from no swaps, there isn’t that much distinctive about LimeFxFX. Founded in 2011 in Cyprus, LimeFxFX is a well-regulated broker with oversight in place from CySEC and SVG.
Profiting off swaps is a legit trading strategy but this won’t be possible with LimeFxFX. If this doesn’t concern you and you assume swaps costs will be unfavourable, then this account will encourage you to trade mid-term and long-term. As seen in limefx courses scam the module below, we found LimeFxFX spreads to be largely average for major FX pairs, and disappointing for cross-pairs. With this in mind, we think it is safe to say LimeFxFX does not live up to its claim of having the lowest spreads in the market.
What is the Minimum Deposit at LimeFxFX?
These are all useful and important tools to utilize for any forex trader on all platforms and brokers. The spreads here start at an extremely competitive 0 pips with $5 per side per lot of commission, or from as low as 0.2 pips with no commission depending on your account type. Taking a look at the CFD markets available from LimeFxFX, it is noted that they offer a little more than 70 assets in total. Some of them may not be available within every region or account type. With that said, they still offer good value in terms of trading conditions. You can look forward to trading with the MT5 trading platform on this account where the spreads start at great value from 0.2 pips.
How is LimeFxFX’s Customer service?
This is provided both through their own dedicated copy trading platform and a mobile trading app for on the go trading. You can choose to either be a copier, or a “Master Trader” where others will copy you and you will earn a commission. The broker provides an unlimited demo account that can be very useful for testing out their features and getting to know the industry if you are new to trading. In this LimeFxFX review, you will find everything you need to know on the key areas of the broker like spreads, account types, and security. 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. And more than likely, it’s a no-go for wherever you may be located.
With LimeFxFX, you have access to most of the major trading instruments. Lastly, you can trade 30 different cryptocurrency CFDs on the LimeFxFX 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.
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. When questioned further, the same customer support person couldn’t verify if we could deposit via a credit card and advised us that we https://limefx.club/ could probably use cryptocurrency to deposit. If you’d like to trade stock market indices, pick from one of ten major global indices. These include the SP500, Nasdaq, French CAC40, and Australian SPI 200. Another thing we should note is that in the case of LimeFxFX, we assume the spreads haven’t been widened.
The broker only offers a spread-only account with spreads from 0.6 pips, if you are hoping for RAW spreads then you will need to look at other brokers. To trade you can choose between MetaTrader 4 and MetaTrader 5 trading platforms, both platforms are excellent options but many brokers in the market offer these options. LimeFxFX is a good ECN DMA broker choice and great for scalping, hedging, and autotrading.
Apart from that, LimeFxFX offers you the ability to deposit and withdraw using e-wallet services such as Neteller and Skrill. As the customer service operator pushed me towards it, transferring to some cryptocurrency such as Bitcoin or USDT is always possible. LimeFxFX is extremely limited regarding payment method options for funding a trading account. 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. 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.