I’ve also read much of the educational content and was struck by its bland delivery with long-form text and limited videos or engaging elements like quizzes, all of which could elevate the learning experience. It was simple to complete the demo registration process within the client portal with the benefit of not having to complete any identity verification requirements. This is a much larger virtual bankroll than almost every other broker we’ve tested, but makes sense given the very high leverage. The sign-up process is also pleasingly simple and there is a swap-free solution for Muslim traders available upon request. On the surface, this is an ideal offering that provides the best of both worlds, though in practice we found some instruments pricier than others, so you shouldn’t expect superior pricing across the board. 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.

Is LimeFx A Good Or Bad Forex Broker?

These findings are based on our first-hand experience trading at LimeFx and take into account the overall experience for day traders. LimeFx is an excellent low-cost choice for beginners due to its decent range of educational resources and free demo account – a great way to build up experience before trading with real capital. The $0 minimum deposit also makes the forex broker accessible for new traders. New currency traders will enjoy the $0 minimum deposit, education and trading resources, plus the zero commission policy. Experienced traders will appreciate the tight spreads, access to MT4 and a VPS, plus zero strategy restrictions. The diversity of financial instruments which this company offers to customers is really huge.

Customer Support

The most frustrating absence is stocks, which are entirely missing, though traders can at least speculate on stock markets through index CFDs. 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. CySEC is a top-tier regulator that helps ensure LimeFx follows strict business standards and implements safeguards like negative balance protection and segregated client funds. 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.

How To Open A Demo Account

I’ve personally used and tested the brokers on our service, opening and funding real-money accounts, contacting customer service and placing trades. Each and every trade clients place is matched in an electronic configured network (ECN), through a straight through processing (STP) method. LimeFx does not operate a dealing desk, or make a market in forex. These limefx website four critical factors ensure that LimeFx clients are enjoying the most transparent access to the FX markets. I use LimeFx for forex trading and have been impressed with the huge range of currency pairs, transparent fees and reliable MetaTrader 4 platform. I think the client dashboard and website could do with an overhaul though – they are pretty dated.

However, no forex broker or strategy can guarantee positive returns so you should never invest more than what you would be comfortable losing. On the downside, the offshore branch is unregulated, reducing the broker’s safety rating for global traders. I find LimeFx’s in-house forex market hours tool a handy way to check holidays and other events that could impact trading hours. I am satisfied https://limefx.vip/ with LimeFx’s forex research offering, which includes a blog with regular articles and posts highlighting promising opportunities as well as general tips on trading. LimeFx uses a no-dealing desk model and does not act as a market maker, reducing the risk of price slippage or a conflict of interest by the broker. The speed of transfers varies according to the payment method used.

The World Best Trading Account

Bank wire transfers are on the slow end, taking between five and seven business days for both deposit and withdrawal requests, while crypto transactions are usually fast, taking 15 minutes or so. To avoid these charges, I recommend using Visa or Mastercard bank cards, as I found these do not incur a fee. MetaTrader 4 includes a whole range of easy-to-understand functions, so it only takes a few minutes to get comfortable with all the different options available to you as a trader. The platform has a built-in “Help” function so you can get answers to the most common questions directly from within the software itself, so you can concentrate on the important stuff – trading. Skrill Ltd. is authorised by the UK Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money. Neteller is authorised by the UK Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money.

A broker who has helped to shape the future of the industry. In fact at LimeFx we believe this ECN account is not basic at all. It is one of the most advanced trading accounts, packed full of features and benefits, currently available in the forex industry. Depending if you prefer to trade from your desktop or while on-the-go, we have a platform for you, and with our user guides we look to improve your Forex trading experience and results. Yes, South African traders are welcome to open an LimeFx live or demo trading account. LimeFx are never charged any commission or fee for trading from their traders.

Start trading with No commissions, No swaps, and tight interbank spreads starting from as low as zero. Ready to assist you in every step of your trading experience, 24h multilingual customer support with Dedicated Account Managers. Overall, LimeFx provides three different account types that do not require a minimum deposit amount in order to open. Now upload your documents and wait for 24 hour for verification. Clients’ funds are held in segregated accounts with several banks.

However if we see its service like compatative spread and $0 commission for trading then we can forget fee. However, profits can only be withdrawn to a bank account or a crypto wallet. Bank transfers are subject to a US$500 minimum threshold and incur fees in excess of US$30. With LimeFx, you can open a trading account denominated in US dollars, euros or British pounds.

It accepts all trading styles and Expert Advisors on the MetaTrader 4 platform. Compare LimeFx with the top 3 similar brokers that accept traders from your location. Similarly, the ‘Market Analysis’ section had a focus on just three currency pairs during testing which is not wide enough in my opinion.

This is a convenient range and I was especially happy with the inclusion of crypto payments as these are highly flexible and should work for traders based almost anywhere. ForexBrokersOnline.com is committed to helping traders find the right forex broker for their specific requirements. The e-wallets Neteller, Skrill, EeziePay and AWEpay are the fastest as they process withdrawals immediately. Crypto withdrawals are also quick as you can expect funds to be transferred within just 15 minutes.

• This includes multiple available markets, access to scalping, commission-free trading, and no required minimum deposit.
• I like LimeFx’s floating spread pricing model, which rivals the cheapest zero-commission brokers that I have reviewed.
• MetaTrader 4 includes a whole range of easy-to-understand functions, so it only takes a few minutes to get comfortable with all the different options available to you as a trader.
• We are also disappointed with LimeFx’s monthly inactivity fee of $5, imposed when your account is not funded or you execute no trades over a period of 120 days.
• I do feel slightly let down that the LimeFx demo mode is limited to 30 days, but I found that you can simply open another demo account after the first one expires.

Spreads are slightly higher on alternative products, while the withdrawal fee and inactivity penalty lower its fee rating somewhat. Yes, LimeFx is regulated by the Cyprus Securities and Exchange Commission (CySEC) and has registration in Nevis as an International Business Corporation. The international subsidiary, on the other hand, operates with limited oversight, and this holds the broker back from achieving a higher score. LimeFx does slightly better with its educational content, which includes some basic e-books, articles, and a glossary of key terms.

However, bank cards and wire transfers take up to five working days. The European branch is licensed by the CySEC, a reputable regulator, and the brokerage has earned a good reputation with over 10 years in the business. This makes the broker a worthwhile option for serious forex traders who will also enjoy the VPS service and MT4 support. Importantly, we never recommend choosing a forex broker based on their bonuses as they can encourage bad trading habits.

But its charged a little fee while withdrawals on some methods. Our License Checker verifies the validity of EU, UK and UAE broker licenses in near real-time. The choice of payment methods depends on the company that you open an account with, and your country of residence. Please visit the company’s website for a list of all payment methods. DayTrading.com is committed to helping traders of all levels make informed decisions about which broker to trade with. If you have experience trading with LimeFx please share your personal review of the broker and what you think are strong and weak points.