LimeFxFX Review 2023: Is It a Reliable Forex Broker?
We’ll also discuss the app, mobile trading, & the platform’s trading features in this LimeFxFX review. LimeFxFX has built a generally positive reputation within the forex trading community. Its commitment to competitive spreads, user-friendly platforms, and customer support has resonated with traders. However, the broker’s offerings may be more suitable for traders primarily interested in forex trading. This live chat feature is available to Forex traders on the platform on the mobile devices app, Social Media channels, Email, and most definitely on their website 24/7. We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs.
Your appreciation serves as a strong motivation for us to continue delivering exceptional service. With a wide range of trading instruments, user-friendly platforms, and robust customer support, LimeFxFX provides an appealing choice for both novice and experienced traders. The broker’s low minimum deposit, competitive spreads, and comprehensive educational resources enhance its accessibility and attractiveness to different kinds of traders. However, it’s important to note that LimeFxFX doesn’t offer trading in certain instruments like ETFs and stocks. Moreover, LimeFxFX now factors in all types of advanced traders and offers a variety of trading account types for their trading activity. Additionally, LimeFxFX is one of the most sought-after platforms due to its no commissions offer.
You can read about our findings in our Standard Spreads test results. Through our in-house spread scanning software, we were able to get an idea of how LimeFxFX spreads compare to other brokers. To do this, we take the average spreads brokers publish on their website and compare them with the spreads LimeFxFX public on their own website. Forex trading is a major focus, with over 28 currency pairs available, encompassing major, minor, and some exotic pairs. LimeFxFX offers a broad spectrum of tradable instruments to cater to different trading interests and strategies, though it doesn’t include all potential asset classes. For instance, if the deposit amount is $400, then LimeFxFX will provide bonus promotions of $200.
At ForexBrokers.com, we track over 100 international regulatory agencies to help you choose the most well-regulated, highly trusted forex brokers. Based on our research on the regulatory status of over 60 brokers, we’ve found that LimeFx holds 2 global Tier-1 licenses, while LimeFxFX holds 1. ForexBrokers.com has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry.
Can I trust LimeFxFX?
Traders from India, Indonesia, Thailand, or other Asian countries can even choose bank transfers. Usually, transactions are processed within 1 to 3 hours, but it also depends upon the region and country you live in. Traders can even take the help of leverage to generate a return more than what they invest. But it makes a bit of a risky deal, so proceed with leverage only until you know the pros and cons of choosing it.
We think LimeFxFX is a very mediocre option for currency and CFD trading due to the lack of account options, expensive trading spreads and rather average customer support. The main appeal of this broker will be if you want unlimited swap-free trading. This feature is certainly a unique offering given most brokers limit the swap-free period, replace the swap fee with an administration fee or require you to prove your Islamic faith. With the mt4 account, traders have the opportunity to make use of 39 profitable trading tools. The EUR/USD listings of the mt4 account have a traditional trading spreadsheet of 0.7 pips.
The security of your funds – in terms of regulatory protection – will depend on which LimeFxFX entity holds your account, and which –if any – relevant regulations provide customer protections. LimeFxFX is an up-and-coming broker that has been in operation for nearly 10 years. Its growth has enabled LimeFxFX 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. LimeFxFX’s market research is well organized and varied in its content. Rather than specializing in any one field, LimeFxFX provides a wide assortment of content types.
- They are generally well-suited for LimeFxFX to provide their Forex/CFD trading services to global clients.
- It brings us immense joy to know that you are enjoying our services.
- Becoming regulated in more jurisdictions – especially in Tier-1 jurisdictions – will go a long way towards building trust with existing and prospective customers.
- LimeFxFX MetaTrader 4 account, also known as the Micro Account at LimeFxFX, is generally offered to novice investors.
Use LimeFxFX hosts live webinar, platform tutorials, and educational articles sessions to gain knowledge on the current market conditions. These webinars are conducted in multiple languages for the accessibility of all users on international clients. LimeFxFX has over 50 different options for payment methods, the availability of which may also depend on your country of residence.
While regulation gives to brokers much needed credibility, it still does not mean every regulated broker is honest. In order to be sure that LimeFxFX is not a scam, read our trader reviews and check other popular trading related websites and forums. We have scanned fees (typical spreads) that LimeFxFX charges when trading popular currency pairs, here is their breakdown in pips. LimeFxFX provides mobile trading apps for both Android and iOS devices. This allows traders to stay connected and execute trades on the go, providing flexibility and convenience. LimeFxFX provides flexible leverage options, allowing traders to choose their desired level of risk.
Account Variety: Evaluate LimeFxFX’s account types and choose one that aligns with your experience level and trading strategy.
Furthermore, the mt4 account has the facility of 32 fiscal currency sets, leverages of gold and silver asset classes, three prominent cryptocurrencies, and four well-known indices. Since stock indices are not physical assets, they can be traded via products that reflect their price movements via the LimeFxFX CFD trading platform. After all the user identity provided is authorized by the accounts unit, the user can start trading on the platform. With login access, guaranteed limited orders, users can initiate their trading investments and exchanges to gain valuable returns. In South Africa, LimeFxFX provides financial services to clients through the intermediary Orinoco Capital, which is licensed by the Financial Sector Conduct Authority (FSCA). LimeFx provides traders 47 currency pairs (e.g., EUR/USD) compared to LimeFxFX’s 40 available pairs.
While high leverage can amplify profits, it’s important to use it responsibly and be aware of potential risks. But it is unclear whether any hidden charges are involved in trading via LimeFxFX because every trading platform charges a significant fee so they could pay off the expenses incurred on trading services. Let’s have a look at the steps limefx forex brokers reviews mentioned below to get started with the LimeFxFX online trading platform. For this reason, LimeFxFX is one of the better choices if you require a sharia-compliant Islamic trading account. In terms of education, there are platform tutorial videos and a basic forex trading course, which would probably be okay for absolute newbie traders.
Competitive Spreads and Low Commissions
But before you are required to fund your account with a minimum deposit amount, which stands at $100. To simply put, the LimeFxFX trading platform offers MT5, MT4, and cTrader trading accounts. In just another couple of clicks, our demo account was open, and we could now have access to the trading platforms. When trying to determine if we could add funds to our account via a simple bank transfer, the customer support person in the live chat couldn’t even verify that a bank transfer was an option.
No, based on your detected country of FI, you can’t open an account with this broker. Download our app and keep track of your orders whether you’re in the office, on vacation, or at home. We are constantly improving our product to make your trading experience better. I found it very practical to transfer money to carry out operations.Very complete in terms of graphics and currencies, and I really enjoyed using copytrading.
We launched a set of educational materials and Forex academy videos. We’re helping traders build stronger futures by offering a wide variety of educational videos as well as unlimited demo training accounts. These include the https://limefx.group/ opportunity to earn up to $500 on a monthly basis trading in a training mode with no deposits required, and learn basic trading skills for secure trading. There is a very high degree of risk involved in trading securities.
These trader-friendly policies lead to LimeFxFX receiving a top rating for its deposit and withdrawal procedures. LimeFxFX handles customer queries through multiple channels including a live chat function, email, and phone support. LimeFxFX does a commendable job of offering educational and research materials to its users, though room for improvement and expansion still exists compared to some industry leaders. Moreover, LimeFxFX offers opportunities for cryptocurrency trading, featuring popular cryptos like Bitcoin, Litecoin, and Ethereum.