LimeFx Broker LimeFx Review

The support covers almost the globe due to the broker’s presence and coverage of major destinations. Web trading platform is optimized for high performance and speed on any computer, as well as combining numerous integrated market analyses and tools. Yet, it could be better to use a desktop platform for day trading and comprehensive strategies, since the Web platform is rather limited in its available tools. The latest version of MT5 also supports Web and Mobile trading.

Not enough info on LimeFx spreads, commissions, overnight fees? LimeFx is primarily a forex broker, but a range of other assets are also available on its platforms. In the U.S., its product line caters solely to spot forex trading, unleveraged gold & silver, and futures through its affiliate, FuturesOnline. Stop – A pending order where the entry is at a predetermined point above or below the prevailing market rate depending on whether it’s a buy or sell. The trader also has the option of selecting the expiration time of this order.

LimeFx Usability

To start with LimeFx, a well know forex broker in the UK, you need to make a deposit first. LimeFx offers multiple deposit options and requires a relatively low deposit of $50 after setting up the account. However, the broker recommends depositing $2,500 to access a wide range of trading instruments and have enhanced risk management. Many forex traders use fundamental analysis tools to inform their trades. LimeFx’s brokerage platform includes an organized and comprehensive news feed that is customizable to focus on your favorite currency pairs. Begin by selecting your currency pair of choice and opening a new workspace.

LimeFx’s mobile app is available for both iOS and Android platforms and is free to download. LimeFx’s app also allows you to customize exchange rate level, movement and order trigger alerts. When an alert is triggered, you’ll receive a push notification informing you of a movement or that your order has been executed. The broker is regulated by several financial authorities globally, including the top-tier FCA in the UK. The broker’s parent company, StoneX Group Inc is listed on the NASDAQ Stock Exchange.

• Besides the accounts mentioned above, LimeFx also catered for Muslim clients by offering the Islamic Account.
• However, the impression that one gets is that it could be so much better if a bit more attention was paid to the primary revenue generator – the customer.
• Trading in this market involves buying and selling world currencies, taking profit from the exchange rates difference.
• This brings up an order window where the entry, stop loss, and profit target are set.
• Clients can trade directly from charts by right-clicking and selecting the « trade » option or by clicking on the « buy » and « sell » buttons along the top of the chart.
• The website does not list additional fees for deposits or withdrawals.

LimeFx offers both fixed and variable spreads which depend on the market you wish to trade, along with an opportunity to reduce costs by up to 15% with cash rebates. In addition, the broker provides some of the tightest spreads in the industry. Based on our findings, the average spread for EUR USD is 1.3 pip for the Standard account. Lastly, the third account option is designed specifically for high-volume traders and is named Direct Market Access Account where the maximum control is applied. This account is available only through a proprietary platform and recommended for a minimum of $25k deposit, so professional traders can benefit from the superior conditions LimeFx provides.

LimeFx has an easy-to-use trading platform and traders have several versions to choose from. Users can trade on LimeFx’s web platform, on their iPhone and Android apps, on their desktop trading platform, or on a third-party FX trading platform called MetaTrader. You’ll likely be impressed with LimeFx’s research limefx broker reviews and education offerings. Let’s take a look at 3 helpful features the brokerage offers for trader education. Opening an account with LimeFx is also quite straightforward. U.S.-based applicants will need to fill out some basic information on an online form and provide details about their trading experience.

Account types

After practicing trading for a few month, I open a live account and start losing money. I didn’t trade from the account, but rather opened a 2nd account to link with Zulutrade. This account started to lose money , so I decided pause trading on the account. Fast forwards about 8 months later, I decided to start trading again and found that 2 of my live account were now closed.

Equity markets open and close each trading day and are not operational continuously like Forex and cryptocurrencies. Negative balance protection exists, ensuring traders never lose more than their deposit. Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights, in the commission based LimeFx account. The DMA account features commissions between $6.00 and $2.00 per 1.0 standard lot with raw spreads of 0.1 pips. Here is a screenshot of live quotes at LimeFx during the London-New York overlap session, the most liquid one, where traders usually get the lowest spreads. From a core trading cost perspective, LimeFx delivers across the board, but trading costs without volume-based rebates are moderately higher versus competitors.

Unfortunately, LimeFx doesn’t support deposits from PayPal or Western Union. We recommend card payments for new and casual traders and wire transfers for advanced and professional traders. Here you can find links to reviews of all forex brokers listed on EarnForex.

Any action you take upon the information you find on this website is strictly at your own risk and we will not be liable for any losses and/or damages in the use of our website. You state that there is an overnight fee of -2.5% and 2.5% depending on if you are trading Long or short. In terms of funding methods, LimeFx offers a few payment methods which are a very good plus, yet check according to its regulation whether the method is available or not. LimeFx Markets Range Score is 9.2 out of 10 for wide trading instrument selection among Forex, Stocks, Indicies, and more.

What are the fees for LimeFx?

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Traders with a commission account are charged a raw spread with a commission. Traders can only use the LimeFx trading platforms with a commission account. This type of account is best for FX traders who want the tightest spreads, and are willing to pay the commissions. LimeFx does not charge a fee, but instead charges a spread or commission based on trading volume. Pricing is transparent, and the live spreads are on LimeFx. Negative balance protection protects investors from losing more than they deposit into their accounts.

Costs

Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory limefx forex broker standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

Minimum deposit

Phone support is the quickest way to have questions answered by a real person. There is a small menu to choose from at the start of the call. Wait times will vary based on call volume, but during a normal day you can expect to wait several minutes before being connected with a representative. Email support is available for more in-depth questions but expect to wait one to three business days for a response. A LimeFx account can also be integrated with NinjaTrader, a popular third-party trading platform.

LimeFx Spreads are ranked low or average with an overall rating of 8.9 out of 10 based on our testing comparison to other brokers. We found Forex spread much lower, and spreads for other instruments are very attractive too. That limitation is done with the purpose to limit potential losses, as high leverage may impose trades quickly in reverse as well. Thus, traders should use leverage levels smartly and learn how to do it correctly for a particular instrument.

To qualify for this Active Trader Program, investors must make a minimum initial deposit of $10,000 or trade $50 million in a calendar month. To remain eligible, investors must trade a minimum of $50 million per quarter or keep an average account balance of $25,000. Just click on the currency pair you want to trade, enter the amount of currency you’d like to exchange and execute your trade. When you close out a position, LimeFx will show you a small summary of your trade and your overall net loss or gain. Using leverage by trading on margin is a common method forex traders use to control larger positions with a given amount of trading capital. This lets them amplify profits and make more meaningful trades as a result.

Brokerage Review Websites About LimeFx

Trading with LimeFx takes place 24/6, but the availability of instruments is subject to jurisdictions. You can trade with forex, CFDs, commodities, indices, cryptocurrencies, and precious metals such as gold and silver. With over 80 currency pairs, you have the option to trade with six base currencies namely USD, EUR, GBP, AUD, JPY, and CHF. Withdrawal options at LimeFx are wide and offer easy bank transfers, card payments, and e-wallets. There are no charges or any fees on debit and credit card deposits or bank transfers, there are also no charges to withdraw funds, which is indeed a pleasant addition to overall money management.

Full order functionality is available, including conditional orders and the ability to easily place stop losses and profit targets at the time of a trade. The mobile app is functional, providing traders with access to all their account information. Traders can add or withdraw funds, view trade history, create watchlists, access news, and view charts from the mobile app. Globally, LimeFx offers clients access to a wide range of product offerings that span several asset classes. Clients have access to forex, equities, commodities, indices, bonds, ETFs, industry sectors, cryptocurrencies, gold & silver , and futures .