LimeFx forex trading broker offers a wide range of assets, including major currency pairs, stocks, cryptocurrencies, and CFDs. Traders can use the MT4 or MT5 platform to buy and sell CFDs with high leverage, and this makes the platform suitable for both new and experienced traders. LimeFx offers over 1000 trading instruments as well as 24/7 trading on crypto and CFDs. This is great for traders who love to trade multiple assets as they can get access to these assets on a single trading platform. You can trade crypto pairs, such as BTC/USD and ETH/USD; or crosses, such as BTC/XRP.
With low minimum deposits, tight spreads, plus flexible commission and contract sizes, LimeFx offers the best range of account types with both commission-free and ECN-style pricing available. Although LimeFx’s Zero account is only available to traders based in Europe or the UK, traders outside of this area can still access ECN-like spreads via the broker’s Ultra-Low account. As spreads are much narrower than standard account spreads, traders pay round-turn commission fees of $7 when trading with LimeFx and from $4 when trading with FXTM. While LimeFx and FXTM provide reasonable ECN-style spreads, brokers such as Pepperstone and IC Markets offer better pricing with tighter spreads and low commission fees across all major currency pairs. In this comprehensivereview, we’ll look at many differentparts of LimeFx, such as their trading platforms, account types, customerservice, and more. By the end of this review, you’llhave a good idea of whether LimeFx is the right brokerfor your forex trading goals.
- As well as the wide range of resources available at , the broker hosts live seminars in countries where FXTM has offices.
- The Micro account is suitable for beginners with a smaller budget, as it requires a minimum deposit of only $5.
- From the market overview page, it is possible to have a quick snapshot of what is happening right now in the markets, what is it is easy to navigate from here to look at the various aspects of research provided by exam.
- LimeFx Forex offers various risk management tools, including stop-loss orders and negative balance protection, to help traders manage their risk effectively.
This variety allows traders to gain access to many assets, thereby allowing them to maximize their trading strategies. Both brokers offer the choice of commission-free and commission account spreads. Commission-free spreads tend to be wider as compensation for the broker’s services is included in the spread, while no commission accounts provide access to ECN-like spreads with traders paying flat-rate commission fees. As explained in the section below, LimeFx and FXTM offer a significant number of account types with different spreads depending on a trader’s location and the trading platform they use.
How Does Forex Trading Work?
The mobile trading platform allows traders to gain access to multiple tradable assets, including forex, crypto, and CFDs. LimeFx provides different trading platforms to meet the needs of traders with different levels of experience. Furthermore, the broker provides access to desktop and webtrading via an MT4 MultiTerminal and an MT4 webtrader for PC and Mac, respectively. Commissions are fees charged by a broker for processing transactions and trades. Commissions can be a fixed amount or a percentage of the value of a trade, depending on the broker. Fees, on the other hand, are charged for services, such as account maintenance, withdrawals, and deposits.
Forex Trading via a Broker
Since the MT4 mobile trading options are exactly the same for smartphones and tablets as for trading from table PCs, online investors can perform their trading activities at the same speed and with the same trading tools for best results. On applying proper backtesting, traders can easily evaluate and fine-tune trading ideas, which they can later apply in their own trading practices for better https://limefx.name/ results. Effective as it is, automated trading is also a sophisticated method to trade the markets and as such it, mainly for beginner traders, it is advisable to start with small sizes during the learning process. LimeFx offers a significantly lower minimum deposit across its account types (Standard, Micro, and Ultra Low all at $5), making it a more accessible choice for traders on a budget.
Regulation Details
This is only available if you are trading under the IFSC regulatory umbrella. There are also 16 stock indices available to trade with the major European, US and Asian stock indices all present. While many traders will be happy with this, it’s worth noting that LimeFx doesn’t currently offer CFDs on other precious metals such as Platinum and Palladium. Not a deal-breaker by any means, but something worth bearing in mind if you’re looking to trade CFDs on multiple precious metals.
We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points. Our clients can choose the trading account that meets their needs and select the trading platform of their choice during their registration. Automated trading is undoubtedly one of the most popular features of MetaTrader 4. It is remarkable data in itself that since 2014, over 75% of the United States stock share trades, including NASDAQ and the New York Stock Exchange, have been carried out through automated trading system orders.
The broker’s Cent Account is a great option for those wanting to trade smaller volumes due to lower account balances or inexperience. With minimum spreads of 1.5 pips, pricing is less competitive limefx reviews than ECN-style accounts, yet traders pay no additional commission fees on top of the spread. As both LimeFx and ForexTime offer MetaTrader 4 (MT4) and MetaTrader 5 (MT5), the brokers tie this round.