LimeFxFX does not charge internal withdrawal fees, but traders may incur third-party payment processor costs, blockchain fees, and currency conversion charges. Multiple times, we asked questions regarding things such as deposit options and broker regulations, and we were met with a long pause, followed by less than sufficient answers. But, even for simple questions, we didn’t find the customer service options impressive. When questioned further, the same customer support person couldn’t verify if we could deposit via a credit card and advised us that we could probably use cryptocurrency to deposit. The LimeFxFX platform is essentially a white-label licensed version of MT5.
- LimeFxFX also offers the chance to trade energy products like Texas Crude, Brent Crude, and Natural Gas.
- Both accounts offer most features found in a standard account with similar types of brokers.
- You can also create accounts on the MetaTrader 4 and MetaTrader 5 platforms to trade Forex, cryptocurrencies, and other instruments.
- Learn about the current trends for different pairs from the LimeFx experts and open orders on the same screen to save time and effort.
- The standards set by ESMA are quite high, not dissimilar to those set by the FCA in the UK and ASIC in Australia.
Free educational materials
LimeFx has struggled with pricing in the past, but has vastly improved in this category and is now gaining on the lowest-cost MetaTrader brokers. In addition, LimeFx boasts no slippage on 97.5% of its executed orders, and no overnight carry costs, yet has restrictions limefx company reviews in place that can hinder high-frequency traders. Download our app and keep track of your orders whether you’re in the office, on vacation, or at home. MetaTrader 5 scalping allows you to turn many small profit opportunities into a big one.
Download MetaTrader 5 for your device
They can go as low as $25 (USD) when funding with Visa/Mastercard, to 50 euros (EUR) when using Skrill/Neteller to as much as 500,000 Indian rupees (INR). It’s important to note that minimum deposits and trading costs will also depend on which LimeFx entity you choose for establishing your trading account. LimeFx has improved its educational offering with webinars and live trading session recordings and expanded its educational articles and videos.
New instruments: XRPUSD and BCHUSD
As long as a broker has MT4 and MT5 it should be more than enough for most retail traders. Both accounts offer most features found in a standard account with similar types of brokers. This means no commission costs in addition to the spread with these spreads starting from https://limefx.biz/ 0.8 pips for the EUR/USD currency pair. Web and mobile trading platform OсtaTrader enables you to diversify and upgrade your trading. You can also create accounts on the MetaTrader 4 and MetaTrader 5 platforms to trade Forex, cryptocurrencies, and other instruments.
LimeFxFX Forex Review: Fees, Safety, Platforms
Trade anytime and anywhere, and have access to trading information 24 hours a day, even while you’re traveling or on vacation. It is super easy to download and install the terminal on any compatible device. This video course for beginners will guide you through the main aspects of Forex trading. You will learn how the Forex market works and how you can profit from it. Study the essential Forex terminology, learn how to take your first steps in trading, and start developing your trading strategy. The difference in leverage depends on the product trading, and where you’re located on the globe, due to which regulatory guidelines apply to your account.
That is where robots come in, providing accuracy in Forex and index trading. For instance, the EAs are programmed to monitor fluctuations in various currencies and automatically enter and exit market orders once your predetermined trading indicators are reached. Identify trends and support or resistance levels for price forecasts with MetaTrader 5 charts. Enable trading robots to see changes in currencies, indices, and other security quotes. All traders must go through a period of trial and error to become pros. We aim to make that period more accessible for you with our free Forex trading lessons.
Uniquely, the company hosts regular webinars, with topics such as Fibonacci analysis, trading psychology, and broadcasts where you can watch one of the company’s traders for an entire trading session. 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. If you’re a more advanced trader, and you want more sophisticated tools, you may consider Pepperstone, Vantage, or IC Markets with a broader range of platforms. The big changes in MT5 are increased charting options, such as timeframes and lesser-known technical indicators.
Our spread module indicates that with LimeFxFX, you are paying more than your competitors, so it may be better to consider trading with other brokers. If you are not of Islamic faith, having no swaps can work for or even against you. Remember that swaps can either be a source of income or an expense, depending on how markets open. Profiting off swaps is a legit trading strategy but this won’t be possible with LimeFxFX.
MT5 has 44 analytical objects, including Gann, Fibonacci retracements, Elliott Tools, Geometric Shapes, and more. Apply objects on charts manually, set calculation parameters, and customize the appearance of graphical objects according to your taste. Majors are the best Forex pairs for novices, especially EURUSD, GBPUSD, and USDJPY. It is where national currencies, such as the US dollar (USD) or the Japanese yen (JPY), are exchanged. 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.
Use it to plan your trading day and choose the best times for opening and closing orders. Forex robots are ideal helpers when you need to evolve your scalping techniques and stop making manual decisions. Once you open numerous short-term orders, the most important thing is to close the orders with proper timing.
We are constantly improving our product to make your trading experience better. Choose from 300+ trading instruments, including shares, commodities, and indices. The indicators can be viewed on the ‘Calendar’ tab of the Toolbox window.
As seen in the module below, we found LimeFxFX spreads to be largely average for major FX pairs, and disappointing for cross-pairs. With this in mind, we think it is safe to say LimeFxFX does not live up to its claim of having the lowest spreads in the market. Minimum deposits at LimeFx will vary depending on your country of residence and your chosen payment method.
Use this page to see which trading sessions are currently open and check the exact trading hours for every available asset. Learn about the next important event that can affect market prices and check live quotes for major currency pairs with this simple trading helper. Use it whenever you need a quick glance at the market before opening an order. There are 35 currency pairs to trade for most traders across the globe, but only 28 pairs are available if you live in the European Union. While 35 pairs mean LimeFxFX offers all the popular pairs to trade with, less popular pairs can be more volatile which means more opportunity to profit from this volatility. Opening a MetaTrader 4 Demo Account is the best way for a new trader to check out the platform, get familiar with the tools and learn trading techniques.
Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Rather than specializing in any one field, LimeFx provides a wide assortment of content types. However, when compared to research leaders IG, Saxo, and CMC Markets, LimeFx has room to enhance its research offering.
You will also find trading available with micro lots, mini lots, and standard lots with the spread variable or floating. We should also mention you shouldn’t get requotes or rejections since market execution rather than instant execution is used. Though it has been granted regulatory status in Cyprus and South Africa via an intermediary (Orinoco Capital), LimeFx’s lack of additional reputable licenses heavily weighs down its Trust Score.
LimeFx also provides financial services through its intermediary, Orinoco Capital (based in South Africa). LimeFx (formerly LimeFxFX) offers a basic, low-cost MetaTrader platform experience alongside its proprietary web and social copy-trading platform. After-hours trading occurs when the day’s normal trading session is closed. In order to make your learning process with LimeFx more engaging, we suggest to train on MetaTrader 4 Demo Account to win real money. Register for LimeFx’s long standing Forex Demo Contest, which has a $1,000 prize fund and lasts for a month. To participate in this contest, simply register for a new Demo account.