By test April 5, 2021
This is essentially free credit that can be used for trading purposes, and I was pleased on this occasion that there were no minimum trading requirements. That said, this broker does implement negative balance protection across both EU and offshore entities, unlike alternatives such as Fusion Markets. An inactivity fee of $5 per month is applied after three months of no trading activity. No, Lime Fx is a legit broker with regulatory oversight from the VFSC and the CySEC. Traders have access to numerous deposit and withdrawal options at Lime Fx.
Educational Tools for All Traders
While the broker does not offer phone support or automated bots, the availability of live chat and email ensures that most issues can be resolved quickly and effectively. This customer-centric approach makes Lime Fx a solid choice for traders who prioritize responsive and professional support. Whether you are a beginner looking for a low-cost entry into the forex market or a professional trader seeking competitive conditions, Lime Fx’s ECN XL account provides a solid, flexible option. We are committed to our clients’ success, by delivering competitive pricing, via the fairest and most transparent order process in the retail forex trading market.
First Deposit Bonus
Furthermore, all client funds are held in accounts with major international banks and kept segregated from Lime Fx corporate accounts. Lime Fx is a low-cost brokerage with no commissions and spreads that are generally competitive, especially on currency pairs. Lime Fx offers mobile trading apps limefx reviews compatible with both iOS and Android devices.
Once these steps are completed, traders can access their account and begin trading immediately. While an Lime Fx no deposit bonus does not exist, Lime Fx offers a 100% first deposit bonus with a $2,000 limit. Terms and conditions apply, and I urge traders to read and understand them before accepting the incentive. Lime Fx occasionally introduces other bonuses and promotions, which have included a $50 Lime Fx no deposit bonus or annual interest on free margin. Lime Fx prioritizes security measures to safeguard clients’ funds and ensures a secure trading environment responsibly.
Should You Trade With Lime Fx?
While the broker does not boast an extensive educational library, it offers enough material to assist traders in improving their technical and fundamental analysis skills. Lime Fx offers traders a transparent fee structure with no trading commissions under its ECN XL account, relying solely on competitive spreads. The broker focuses on keeping costs low, making it a popular choice among cost-conscious traders. As a broker regulated by CySEC, MiFID, and MISA, it complies with stringent industry standards to protect traders. Lime Fx utilizes two-factor authentication (2FA) to prevent fraud and secure accounts, adding an essential layer of protection for all users. Furthermore, the broker ensures that client funds are stored in Tier 1 banks, safeguarding these assets from potential risks.
Lime Fx – A Reliable Platform for Secure Trading
Lime Fx offers traders a competitive commission-free trading environment. The EUR/USD spread ranges between 0.0 pips and 0.3 pips, with occasional spikes during the market news and trading session breaks, which Lime Fx transparently displays on its website. Lime Fx deploys an ECN/STP execution model and does not manipulate quotes. The diversity of financial instruments which this company offers to customers is really huge. They have been running the business for over 14 years, so it seems they managed to add a lot of instruments for all this time.
The broker provides access to CFDs (Contracts for Difference), which allow users to trade a wide range of markets without owning the underlying assets. Lime Fx’s offerings include commodities, currencies, cryptocurrencies, and indices, giving traders flexibility in choosing their preferred markets. With over 200 available assets, traders can diversify their portfolios and take advantage of different market conditions. New traders have access to fourteen quality educational posts plus a dedicated section on major economic reports. Eleven eBooks complete the education at Lime Fx, and the overall product remains impressive.
Lime Fx maintains one of the cheapest Forex cost structures available, with commission-free quotes from 0.0 pips or $0.00 per 1.0 standard lot for the most liquid currency pairs like the EUR/USD and the USD/JPY. The average spread for major currency pairs is below 0.5 pips or less than $5.00 per lot, offering traders a distinct pricing environment advantage. The Vanuatu Financial Services Commission (VFSC) provides Lime Fx with a competitive regulatory environment for international clients.
- This average customer rating is based on 20 Lime Fx customer reviews submitted by our visitors.
- Lime Fx offers several unique features that set it apart from other brokers.
- MetaTrader uses its own programming language MQL4, which allows you to program your own automated trading robots.
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 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. While many forex traders are familiar with the MetaTrader 4 software, which allows for expert advisors that can automate your trades, no other trading platform is offered. If you have a broad range of assets that you trade, such as international stocks, bonds or other equities, you might want to consider an international broker that provides these services. You can even get a VPS service for free to keep your automatic trading bots running smoothly if your own Internet is spotty.
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. CySEC is a top-tier regulator that helps ensure Lime Fx follows strict business standards and implements safeguards like negative balance protection and segregated client funds. Lime Fx does not charge specific fees for CFD trading beyond the spread. 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 ECN XL account.
It’s a good broker for intraday trading because trading conditions allow to earn on every move. I can picture my collaboration with the broker is mostly positive for me. There were some hitches in my trading here but I attribute it to my lack of experience and the fact that for the last time I was impressed by economic news. Depending on the scope of your trading and the assets you plan on trading, Lime Fx might not meet your needs. This is especially true if you plan on trading physical cryptocurrencies or any of the commodities traded through CFDs. Compare the markets and instruments offered by Lime Fx and its competitors.
Withdrawals at Lime Fx 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. The sign-up process is also pleasingly simple and there is a swap-free solution for Muslim traders available upon request.
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 limefx scam beginners to pick up easily. However, some FX specialists like Forex.com offer thousands of additional instruments, so it’s disappointing to find just 27 non-forex assets on the Lime Fx platform. The overall trading environment at Lime Fx features a low cost structure and competitive asset selection, . Lime Fx lacks more trading tools, like CFDs on stocks for example, which became so popular recent days. One operates out of Vanuatu, where international clients have a trustworthy and competitive trading environment.
This average customer rating is based on 20 Lime Fx customer reviews submitted by our visitors. The international subsidiary, on the other hand, operates with limited oversight, and this holds the broker back from achieving a higher score. Placing a trade is a quick and straightforward affair that can be completed in a couple of clicks via the ‘Market Watch’ window or even more smoothly by turning on one-click trading. This is a much larger virtual bankroll than almost every other broker we’ve tested, but makes sense given the very high leverage. That said, the bonus could not be withdrawn, and if your account balance reaches below 50% of the available bonus credit, the amount will be removed.
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 means that clients of Lime Fx’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. Quotes remain sourced from multiple liquidity providers and matched for the best possible execution. Your trading opportunities and potential success is automatically enhanced by using our straight through processing order fulfilment, in an ECN (electronic communication network) environment. The platform allows orders to be placed in a variety of ways, including trading directly from charts.