Before trading Forex or any other financial tool one should be aware of the risks, know exactly his investment goals and limits and acquire a fine level of risk understanding and risk management. The flagship of the LimeFX trading platform offer is obviously MT4. MT4 has been the top trading platform option for quite some time now. It offers unparalleled charting and technical analysis, as well as EA-support – which is indeed something most serious traders like to take advantage of. If you want to make more money, LimeFX is a great choice for you.
The YouTube channel also has videos on potential chart patterns developing in well-known markets and content is posted regularly which is good to see. For verification, you need to submit proof of identity and proof of address documentation. This can include a driver’s licence or passport and a utility or bank statement. It was a simple process and was completed in less than 3 minutes. While everything is done digitally, you cannot do anything in the client portal area until you are fully verified. The mobile app is simple to use with a clear interface to navigate between the different sections.
While the broker’s offerings are geared to beginner and advanced traders, our research shows the latter will benefit the most. These videos are designed for beginners who want to learn the basics of futures Stock and options trading. Advanced traders of these products may find the knowledge too basic. The broker also provides access to the Education Hub which is a course of videos for futures and options trading.
The chart is simple to view and you can access 9 timeframes and 30 technical indicators. The range of instruments available to trade on is below the industry average. The Forex pairs include majors, minors and exotic currencies while commodity CFDs only include metals and energies. However, if your account has been inactive for more than a year it may be closed if there is less than £10 in it.
- It also offers intuitive trading platforms and education material for the new traders to learn the fundamentals of trading.
- Tight variable spreads (starting at 0.00 pips pips) are available in exchange for a commission of USD 4 USD per lot.
- This volatility and destruction has, ironically, reenergized the forex market.
- The mobile trading platform of LimeFX is highly functional and especially beneficial to practice trading in the industry.
While there is clearly a vast amount of untapped potential at LimeFX, management should find a way to access that potential in an effort to attract new traders and retain existing ones. LimeFX should consider that an upgraded version would boost its appeal. Both platforms are offered as desktop and multi-terminal versions, while only MT4 is also offered in a mobile version. The MT4’s successor, MT5, is also offered to traders, though it is less celebrated. – Yes, LimeFX works only with the best banks and verified payment providers.
Is This Broker Good For Beginners?
For example, it took us a while to figure out how to add an asset to the watchlist. You can only withdraw money to accounts that are in your name. We tested debit card withdrawal and it took 1 business day. A bank transfer can take several business days, while payment with credit/debit cards is instant. Account opening is fully digital, fast and straightforward. You can fill out the online application form in a matter of minutes.
Demo Account – If you are a new customer who is not ready to invest real money, you can learn more about trading and polish your trading skills through a demo account. This type of account enables traders to test their strategies without taking any risks before they actually begin to trade for real. Pro Account – This account, designed for professional traders, features competitive commissions and tight spreads. LimeFX is a forex broker that is quite popular among forex traders, advertisements about this company are scattered everywhere. If you are looking for a broker with a minimum deposit of $100, LimeFX might be the one for you. Besides using the Metatrader 4 and 5 platforms, LimeFX broker also offers web traders.
Our primary goal at The Tokenist is to simplify the word of financial decision-making, so that investing is not only easy – but also fun. In doing so, we often feature products or services from our partners. However, the opinions and reviews published here are entirely our own. LimeFX provides a wide range of video tutorials covering topics suitable for beginner and advanced traders.
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The good news is that the Pro and VIP accounts deploy the NDD/STP model, where spreads are lowered significantly, starting from 0.0 pips. Classic accounts have no commissions at all, while Pro accounts have a commission of $2 per side per $100,000 traded and VIP accounts have S&P 500 a lot commission of $1 per side per $100,000 traded. LimeFX does not apply maintenance commissions or inactivity commissions. For the EUR/USD pair, 0.1 pips was the lowest average spread identified, but spreads vary all the time according to your market capitalization.
The application lets users trade assets and manage their portfolios. While the broker does offer a rather impressive selection of promotions , only traders using the Seychelles-based side of the business can take advantage of these deals. The requirements of the other regulators LimeFX are involved with, forbid the offering of such promotions, especially of the type that encourages more trading and larger deposits. So you will not receive a LimeFX bonus if you are trading in the EU or UK. Additionally, this broker offers several tools like Autochartist, one-click trading fundamental technical analysis, which help the new traders to increase their confidence and their trading abilities. This platform offers a higher level of accessibility to beginners who do not have experience in trading, LimeFX clients, therefore, find the trading conditions very conducive.
LimeFX has a rebate program in place to reward the traders with cash prizes. Take part in the grand Non-farm Payroll event by trading in significant financial instruments and then stand to win rich prizes. To take part in the NFP Machine Campaign of the platform, the trader has to predict the US labor report data and then stand a chance to win the prize. The platform feels outdated, and as such, accounts lose money. The user-friendly broker interface offers a seamless trading experience. LimeFX offers an extensive range of educational resources to registered traders.
Withdrawal Fees And Options
The company is headquartered in the Seychelles and the United Kingdom and provides a wide variety of different accounts for each jurisdiction. However, availability might be restricted based upon the tax status and residence of traders. In addition to the security and reliability ensured by its legal compliance, LimeFX also offers outstanding trading conditions.
LimeFX’s mobile trading platforms are average compared to other similar brokers. Having established itself as the industry-leading platform, Metatrader 4 is the most reliable and popular platform in existence. Its intuitive interface and user-friendly environment provide essential tools and resources for successful online trading. It is also widely recognised for its fast execution speeds, range of charting tools, algorithmic trading, and customisability.
You can contact the experts if you have any comments or questions. The UK Financial Conduct Authority banned the sale of crypto derivatives to UK retail customers as of 6 January 2021. You can upload a copy of your national ID, passport or driver’s license to verify your identity, while utility bills and bank statements are accepted as proof of residency. There are only a handful of exceptions, the most notable being the US, Canada and Japan.
In this update we review the recent price action in the Dow Jones and identify the next high probability trading opportunity and price objective to target. In this update we review the recent price action in EURGBP and identify the next high probability trading opportunity and price objectives to target. In this update we review the price action in the SP500 and identify the next high probability trading opportunity and price objectives to target. Great service – had a few technical difficulties and they went above and beyond to get me sorted.
As per a news release, in the trust score department out of 99, LimeFX scores 81, which makes it stand out among other market makers. Industry experts consider this trading platform as an “average-risk” and not a high-risk broker. For instance, it is authorized by one tier-1 regulator , one tier-2 regulator, which is an indicator or average trust, and one tier-3 regulator, which shows low trust. Securities Dealer by Seychelles’ FSA regulates LimeFX UK Ltd, which means that the client’s funds are given utmost protection and are stored in a separate bank account. This assures you that your funds are safe and there is no high risk of losing your money. LimeFX has a good selection of derivative products and they are very willing to add more products/platforms to meet their client’s needs.
Overall, LimeFX offers a wider range of funding methods than most other brokers, and they are free. Additionally, its processing times are quick, and for deposits over 5,000 USD, traders will be reimbursed for any third-party charges. LimeFX offers a wide range of funding and withdrawal methods, its processing times are fast, and no fees are charged for deposits or withdrawals. This commission-free entry-level account requires a minimum deposit of 100 USD.
All account holders have access to the popular and versatile LimeFX MT4 platform. The users get access to competitive spreads and over-night swap charges. LimeFX is a regulated trading platform and holds licenses from CySEC, FCA, and FSA.
Please note mobile bills are not accepted under this category. To start trading, the user needs to upload a colour copy of the identification documents and the proof of address documents. Account opening with this broker is quite a straightforward method.
Proven In Numbers
Since the calculation is sometimes confusing, LimeFX offers a forex calculator. With this calculator, you can determine your risk and the position size in just a few seconds. They are leveraged derivatives that can be traded on a variety of values. For the opening of a CFD trade, you do not buy directly the underlying asset, but only the contract to that value. This has several advantages because you can act with a high level of leverage and very easily place short trades. The broker rounds off the offering with CFDs on stock indices, commodities, precious metals, and bonds.
The Metatrader is perfect for any trader who wants to earn sustainable money in the markets. Even small capital can be traded because LimeFX Review: Is This a Scam or Good Forex Broker there are micro lots available. In addition, there is always a guaranteed execution at LimeFX and no partial execution.