Contents
Contrary to popular belief, forex is not a get-rich-quick scheme and can leave you counting enormous losses if you don’t trade with a strategy or take your time to learn the ins and outs. In addition to a glossary, a good broker should have a dedicated page for client education. There’s always something new to learn with forex, limefx review regardless of your experience level. Established back in 2001, LimeFX is a CFD and global FX broker whose parent company StoneX Group Inc is NASDAQ listed. Besides forex, you can also use CMC to trade a range of offerings like commodities, indices, cryptocurrencies, government bond listing, and individual shares.
As a market-maker broker, LimeFX lists a variable spread of 1 pip on the EUR/USD pair, which is higher than the average in the forex industry. However, traders mostly choose LimeFX for its social copy capabilities as opposed to its spreads. Besides, social media support is not accessible, even though they have active social media accounts where they post company and market analysis information. Suffice to say, there are not many drawbacks to these platforms. There are lots of indicators and drawing tools and it is most functional to make quick trades if there is a necessity.
Thank you for trading with us, and we hope that we can satisfactorily assist you in resolving these inquiries. A very sophisticated platform that has been designed to suit serious and very experienced traders to help them in the execution of trades. The minimum initial https://limefx.biz/ deposit that you need to have your account running is $50 or 50 units of your base currency. It is, however, recommended that you have at least $2500 in your account for you to be able to trade comfortably as well as giving you a shield in your trading prospects.
Traders can only use the LimeFX trading platforms with this kind of account. STP Pro trading accounts give traders access to multiple levels of real-time pricing and liquidity. This type of account is best for high-volume FX traders who want to see a real-time view of the FX market. While client service is yet to be improved, LimeFX delivers an incredible service to its clients of all experience levels. On the brighter side, it offers low forex fees, high-quality research tools, various currency pairs, and educational tutorials from beginner to experienced traders.
- The minimum balance required to open an account with LimeFX is 100 units of your base currency.
- Clients can access content according to their experience level, or thematically.
- Remember to make the most of all forex-related educational resources, as they can help you avoid massive losses while making the most of your LimeFX.
- They have a lot of markets available, each with a good number of assets that you can trade individually.
We appreciate your business and hope you consider our offer to continue this dialogue. Please reach out to us at or send us a message through our chat and provide us with more detail so that we can address your concerns. An STP Pro account is for high-volume traders who have a minimum of $25,000. It offers lower spreads and requires higher volume trades to take advantage of really low commissions, after rebates.
Our overall LimeFX rating
The courses come with quizzes and workbooks that can be printed. The online broker is publicly traded, and regulated and authorised by major Tier-1 banks which makes it highly trustworthy and low risk. Some of the regulatory authorities include the Financial Conduct Authority , Commodity Futures Trading Commission , and many more.
And, how the heck is my balance coasting this company to hold? If anything they are making money of my dormant account balances. The market for this company seems to be people new to forex trading that don’t know any better. The commission-free trading account lists a minimum mark-up of 0.8 pips with an average of 1.1 pips.
KYC and AML regulations allow financial institutions and trading platforms to prevent money laundering, fraud, and other similar activities. It operates under the company GAIN Capitals which is publicly traded and has a listing on the New York stock exchange under GCAP. It is considered a trustworthy option by brokers due to its regulation in 4 Tier-1 jurisdictions; under FCA, CFTC, and other major regulatory authorities. Additionally, you can fund or withdraw from your MetaTrader account from the LimeFX app and gain access to our news and analysis. Please note, you’ll still have to login to the MetaTrader platform to place trades and view existing positions and orders.
Non-trading fees
67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Like most other top brokers, Interactive Brokers prioritizes client education through its dedicated online Traders Academy. Through the educational resources, you can learn a lot about markets, currencies, tools, and classes available on the trading platform. Standard Account – Most of the traders will opt for standard account type, since it is the easy way to start trading.
- The SMART Signals Engines scans 800+ price action patterns using more than 100,000 data points and delivers higher accuracy trading signals.
- It operates under the company GAIN Capitals which is publicly traded and has a listing on the New York stock exchange under GCAP.
- You will though have to make a separate account if you want to use metatrader and trade on that account, then transfer money to main account and then to your bank.
- As such, we chose forex brokers that are heavy on client education, which is vital to successful trading.
We are required to withdraw the funds back to the exact same personal bank account used to fund your trading account. Please keep in mind, our trade desk is available by phone whenever the markets are open to assist you with closing out your trades in emergencies. We do have procedures in place to resolve any issues with the platform as soon as possible. Please reach out to our support team with any questions or concerns. You can reach out to our support team by phone , live chat, or email LimeFX is recommended for forex traders who value a user-friendly platform and great research tools.
Best UK Forex Brokers:
Any trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for LimeFX decisions. Yes, the platform offers a demo account with $50,000 in virtual funds. The demo account expires after 30 days of sign up, after which you cannot log in using the demo account. The interactive courses come with tools and videos that teach traders how to manage risk, anticipate market movements, and chart patterns.
The only difference between them is the availability of instruments for trade. The industry level MetaTrader platform integrates high-end automated trading tools. While using this platform, we noticed that it is well-equipped with analytics and tools to make quick trade such as economic calendars and charts, technical and market sentiment indicators, and market news. Apart from that, there are expert analysis, market research reports, and trade signals that can help you strategize your trade. LimeFX’s Active Trader Program is available for traders with $25,000 or more in the account or making $25 million trades per month. With this program, high-volume traders can get up to 15 percent cash rebates per one million dollars in trades and other exclusive benefits.
Keep up-to-date with all the latest upgrades and features designed to enhance your trading experience. Our current version features best-in-class charting, over 80+ tools and indicators, plus instant financial news from Thomson Reuters. The mobile trading platform comes in the form of a downloadable application that will enable you to deal easily while trading. Its personnel is highly qualified and work round the clock to ensure the comfort and proper relations between the firm and its many clients. Its integrity is one major factor that has helped it survive in the unpredictable environment of forex trading as well as getting them a large client base from all over the world.
A fully regulated provider
Foreign exchange («forex» or «FX») is a global marketplace where one currency is converted into another. LimeFX is one of the leading FX brokers in the U.S., offering transparent pricing and an advanced trading platform. In this LimeFX review, we’ll look at the LimeFX platform, its fee structure, and the pros and cons for investors deciding whether to use LimeFX for their FX trading. The broker’s website and trading platforms show market dealing spreads in real time. You can trade with or without commissions, live chat with LimeFX’s staff, and join social media communities to learn more about how to trade forex profitably. Investopedia is dedicated to providing investors with unbiased, comprehensive reviews and ratings of online brokers.
- Yet, could be better to use a desktop platform for day trading and comprehensive strategies, since Web Platform is rather limited in its available tools.
- U.S.-based applicants will need to fill out some basic information on an online form and provide details about their trading experience.
- Its own trading platform offers a host of features for seasoned developers and a lot of opportunities for automation.
- Leading forex brokers offer proprietary trading platforms or support popular 3rd-party platforms such as MetaTrader4 and 5.
- LimeFX’s margin requirements also differ according to the platform used (LimeFX or MetaTrader), market, asset class, and position size.
- Meanwhile, MT5 is the new and improved version, offering more than 500 markets, intuitive market search and groupings, and more advanced charting.
For example, the most common forex pair is the EUR/USD (Euro and U.S. dollar). If the quote is 1.14, this means it would take $1.14 USD to buy one Euro. Like stock quotes, forex quotes are provided with bid and ask prices.
Overall, based on our LimeFX review, customer service is good compared to other brokers, but we suggest you reach them over the phone if you want prompt solutions. Besides in-depth research and educational offerings, LimeFX has additional features making it easier for traders to access the platform. There is a long history of investors thriving on the performances of stock indices. However, trading has certain limitations as the stock market is less liquid and operates for limited hours. The current economic turbulence has compelled investors to look for better alternatives.