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. LimeFx has earned a good score for its fees due to the tight ECN spreads combined with no commissions, an unusual pricing model that places this brand among the cheapest limefx courses scam forex brokers we have reviewed. 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. Ready to assist you in every step of your trading experience, 24h multilingual customer support with Dedicated Account Managers.
User Experience
Ordinarily, we prefer to see a choice between a commission-free account (geared towards beginners) and one with raw spreads and low commissions (geared towards advanced traders). However, LimeFx has outdone many competitors by offering the kind of tight spreads you’d expect from ECN accounts without charging a commission. Whatever your level of trading experience or demands, we believe we have the right account for you. 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. LimeFx’s headquarters are in Cyprus, the company is comprised of a dedicated team of professionals with extensive experience in the financial industry. The broker’s customer support team are available 24/5 from Monday through to Friday.
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Market orders, pending and stop orders, trailing stops – all are right there at your fingertips with MT4. The above live prices are provided solely for informational purposes, not for trading purposes, and may be delayed. For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. Above all, our experts assess whether a broker is trustworthy, taking into account their regulatory credentials, account safeguards, and reputation in the industry.
Take Control of Your Trades
LimeFx’s main objective is to empower its clients with all the tools they require, to develop their skills, whilst enjoying an unrivalled trading experience, during every step of their journey. LimeFx offers one of the best trading platforms in MetaTrader 4 (MT4) for desktop, mobile devices and directly through your web browsers. MT4 is provided by the majority of trading brokers due to its simplicity and user-friendly interface. In addition, I appreciate how they provide access to the MT4 Multi Terminal that allows you to log in to unlimited accounts simultaneously. LimeFx has been around for more than a decade, and that experience in the industry has made it a well-liked broker.
- Trading Brokers Trading Brokers is dedicated to bringing you unbiased broker reviews, the latest broker news and trading guides to help you along your trading journey.
- MetaTrader 4 includes all the trading functions the modern forex trader needs.
- The very first thing I noticed when I started trading with the ECN XL account was the instant execution.
- The mobile trading app is perfect for taking the markets with you in your pocket.
- These findings are based on our first-hand experience trading at LimeFx and take into account the overall experience for day traders.
- ECN XL, also known as the ZERO account is one of the most cost effective trading accounts.
Another big downside is the lack of web trader compatibility, which I find convenient because it provides straightforward and fast market access. This is low compared to many brokers, but it’s still a downside since rivals like Vantage charge nothing, making them a better fit for casual traders. The most frustrating absence is stocks, which are entirely missing, though traders can at least speculate on stock markets through index CFDs. Those looking to trade metals can choose from spot gold, spot silver, and spot palladium, all versus the US dollar or, in the case of spot gold, the euro. Crypto traders can trade Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Monero, ZCash, Dash, and Ripple, and energies traders can trade spot US crude oil and spot UK brent oil. DayTrading.com is committed to helping traders of all levels make informed decisions about which broker to trade with.
First Deposit Bonus
In addition to this, LimeFx also offers the possibility to use the extended security algorithms of Public Key Cryptography. Information secured in this fashion is virtually impossible to hack in any short amount of time. LimeFx’s ‘No Dealing desk’ execution model comes with no dealer intervention and no re-quotes. Client trades are made on prices provided to LimeFx by its liquidity providers. Despite offering crypto trading 24/7, LimeFx does not offer 24/7 customer support.
I only really missed having PayPal available since this industry leader is one of the most widely used e-wallets and is accepted https://limefx.group/ by rivals, including XTB and IG. MetaTrader 4 Multi Terminal is intended for simultaneous management of multiple accounts.
The broker has been around since 2010, and, though that is still pretty new compared to others, it has over a decade of industry experience. LimeFx’s business model is based on STP (Straight Through Processing), where orders are sent to financial institutions directly. This eliminates the potential for conflicts of interest or price mark-ups, making this broker pretty reliable when it comes to trade execution. MT4, which has helpful tools like flexible trading systems, wide technical analyses, and algorithmic and mobile trading, is offered for PC, tablet, and smartphone users.
The broker operates using the STP/ECN execution model, which offers access to the interbank markets. “ECN” stands for “electronic communications network” and “STP” stands for “straight through processing”. ECN brokers execute by matching client orders and STP brokers execute by passing client orders directly to an external liquidity provider, with no dealer intervention and no re-quotes. This means that you can get your trades execute at the best available prices from the brokers liquidity providers without any interference from the broker itself. I prefer this model as it helps to eliminate any conflict of interest between my trades and the broker, ensuring that all my orders are executed in a truly competitive and transparent method.
LimeFx brand is an international brand that is authorized and regulated in various jurisdictions and is committed to offering you the best possible trading experience. I would always prefer to use a regulated broker as they can provide certain protection that an unregulated brokerage firm cannot. I am personally satisfied with this brokers regulation and wouldn’t have any problem using them for my trading.
However, not all currency pairs are as generously priced – GBP/USD trades with a 1-pip spread, which is more expensive than the average of around 0.3 pips at Fusion Markets, for example. Withdrawals at LimeFx are also disappointing, with all methods besides cards and wire transfers incurring a percentage withdrawal fee that can reach a hefty 3.4%, depending on the method. Wire transfers incur a $30-$45 flat fee (minimum limit of $500), many times more than the $5 withdrawal fee at eToro. Importantly, all deposits are fee-free, and e-wallets like Skrill and Neteller process within an hour, compared to 5-7 working days for wire transfers. This means that clients of LimeFx’s offshore branch won’t get the same level of protection and won’t have access to compensation schemes or trusted regulators if things go sour. Looking at the negatives, the coverage outside Europe, while fairly industry standard is disappointing, with the global entity registered in Nevis as an International Business Corporation (license number C55272).
