We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables. The educational materials provided by the broker are sufficient to help traders learn what forex trading is and grasp the basic concepts. For both account types offered by LimeFxFX, limefx broker reviews spreads are floating and start from a minimum of 0.8 pips and have an average of 0.9 pips for the EUR/USD currency pair. This means the trading spreads will get either tighter or wider, depending on market volatility, time of day, and other factors. We do not limit the array of assets available on demo accounts—trade anything you like and diversify your skills.
- Developed using programming language MQL5, MetaTrader 5 allows Black Box Programming, which makes it a viable choice for developers and users of trading robots.
- A demat account is a digital storage mostly used by Indian investors to hold securities in virtual form.
- We disable accounts that stay inactive for too long, but you can always create a new one for free.
- In addition, LimeFx boasts no slippage on 97.5% of its executed orders, and no overnight carry costs, yet has restrictions in place that can hinder high-frequency traders.
These include all the most common cryptocurrencies, but looking at the live quotes, they were wide, we’re not sure we’d ever want to trade crypto on this platform. LimeFxFX also offers the chance to trade energy products like Texas Crude, Brent Crude, and Natural Gas. Another thing we should note is that in the case of LimeFxFX, we assume the spreads haven’t been widened. If they have, then this would be akin to an administration fee however it is difficult to prove if LimeFxFX is doing this. Regarding account currency, if you join the LimeFxFX European subsidiary, you will use Euros. All other clients will be using USD as the account currency, so if you are in the UK and prefer GBP as your account currency, you cannot choose it.
Having traded since 1998, Justin is the CEO and Co-Founded CompareForexBrokers in 2004. Justin has published over 100 finance articles from Forbes, Kiplinger to Finance Magnates. He has a Masters and Commerce degree and has an active role in the fintech community.
How can I change the type of my LimeFx trading account?
After a thorough analysis of the broker, we have concluded that the broker is one of the best brokers for forex and CFD trading in the market. It offers not only a wide range of trading asset platforms but also additional perks like deposit bonuses, SSL security, negative balance protection, and more. Moreover, the broker is highly regulated under two top-tier financial watchdogs, including CySEC and FSA, making the broker platform a reliable place to trade. Operating under multiple top-tier financial regulators and offering security measures like negative balance protection, funds segregation, etc., makes the broker extremely reliable. LimeFx is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and various services already utilised by clients from 180 countries with more than 42 million trading accounts.
Which assets are available on the LimeFx demo account?
LimeFx offers barely 230 tradeable instruments, which varies by platform, with the most on its MT5 offering. By comparison, industry leaders Saxo, IG, and CMC Markets all offer over 10,000 tradeable instruments. ForexBrokers.com has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points https://limefx.club/ and publish tens of thousands of words of research. Regarding education, there are platform tutorial videos and a basic forex trading course, which would probably be okay for absolute newbie traders. When determining if we could add funds to our account via a simple bank transfer, the customer support person in the live chat couldn’t verify that a bank transfer was an option.
Trade with a global broker
LimeFxFX does not charge internal withdrawal fees, but traders may incur third-party payment processor costs, blockchain fees, and currency conversion charges. Some of these educational webinars could be useful, but they are only really suitable for absolute newbies.If you want advanced trading education, look elsewhere. Their live chat team is mostly based in St Lucia or Cyprus and is 24/7. But, even for simple questions, we didn’t find the customer service options impressive. It is a similar story for credit card deposits, which seemed only to be available for certain countries, VISA for example appears only available for clients in the EU – very odd.
cTrader platform introduced
The broker has two referral programs, including the Invite a Friend and the IB partner programs. In the invite-a-friend program, you can earn extra profits by recommending the broker to your friends, and if they register and mention you as a referral, you will make a $1 profit on each trading lot. Through the app, you can directly reach the broker’s customer care team, which provides 24/7 services and prompt responses within 30 seconds.
LimeFx is an up-and-coming broker that has been in operation for nearly 10 years. Its growth has enabled LimeFx to continue to expand its products and services. Adding additional regulatory licenses in Tier-1 jurisdictions would be a step toward winning more client trust. Founded in 2011, LimeFx (formerly LimeFxFX) is part of a group of global entities, which include LimeFx Markets LTD (based in the island of Mwali) and LimeFx Markets Cyprus Ltd (based in Cyprus). LimeFx also provides financial services through its intermediary, Orinoco Capital (based in South Africa). Rather than specializing in any one field, LimeFx provides a wide assortment of content types.