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.
Accounts & Banking
Beginners will appreciate the straightforward pricing model with zero-commission trading, while experienced traders will rate the tight spreads with no restrictions on trading strategies. The LimeFx ECN XL Account comes fully packed with all the features that can be expected from an ECN/STP Broker. This includes multiple available markets, access to scalping, commission-free trading, and no required minimum deposit. LimeFx provides three different account types, namely the ECN XL Account, a Demo Account, and an Islamic, Swap-Free Trading Account.
Trade
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.
Introducing Divi AI Layout & Page Creation
- According to BIS (the bank for international settlements) the FX market is responsible for circa $6.6 trillion of turnover each trading day.
- Clicking on a client will display their contact information, any notes you saved, and a list of the websites you manage for them.
- The company providing very good spread conditions with Commission $0.
- Customer support is very important for new traders, and LimeFx offers it in the form of 24-hour customer service that runs five days a week.
- With LimeFx, you can open a trading account denominated in US dollars, euros or British pounds.
There are over seventy Forex pairs across minors, majors, and exotics, and the currency pairs offered start at 0 pips with a maximum leverage depending on regulation. Indices include the US Wall Street 30, US 500, US Tech 100, and other indices from Germany, Spain, France, Switzerland, Hong Kong, Japan, and Australia. Our forex broker ratings are the result of a blend of quantitative data and qualitative insights gathered during the testing process. This approach allows us to identify the best forex brokers for a variety of trading styles, skill levels, and financial parameters.
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 https://limefx.vip/ 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.
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.
LimeFx makes the trader-favorite MetaTrader4 trading platform available and the broker requires no minimum deposit and is known as “commission-free”. LimeFx’s ECN model provides individual traders with direct access to ‘interbank level’ bid/offer spreads on leading currency pairs. Unlike a traditional stock market, the foreign exchange market is divided into levels of access. At the top is the inter-bank market, limefx forex brokers reviews which is made up of the largest commercial banks and securities dealers. Within the inter-bank market, Spreads, which are the difference between the bid and ask prices for the various currency pairs are razor sharp and vary widely from spreads available to investors outside the top-tier. My mission with TrustedBrokers is to help you find the right broker for you, whether you’re a beginner or a pro.
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.
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.
The multilingual support team responded very quickly to my queries over live chat, never taking more than 30 minutes to get back to me. I also find the FAQs section on the website a useful way to solve basic queries. 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. The online broker covers a range of important topics including guides on foundational information for the forex market that all beginners should read.
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 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.
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.