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While LimeFx claims to support ten trading platforms, it does rather lack the variety in trading software that other online brokers typically provide and that would result in a better review. All platforms come without charge, however, broker provides educational material on how to get them running. Our services include products that are traded on margin and carry a risk of losing all your initial deposit. Before deciding on trading on margin products you should consider your investment objectives, risk tolerance and your level of experience on these products.
The maker fee for exchange transactions is as low as 0.20%, while the taker fee is as low as 0.28%. You can trade forex in lot sizes as small as 0.01, and the broker supports MetaTrader 4 (MT4), which is the most popular platform among retail forex traders. Traders enjoy protection against broker defaults of up to GBP 50,000 via the Financial Services Compensation Scheme (FSCS), and provides extra insurance for UK clients of balances up to GBP 1,000,000.
The Sirix Social WebTrader software comes in a web version for desktops, as well as mobile apps for smartphones and tablets. It lets you execute CFD and forex trades easily, which then get reflected automatically on other platforms. https://limefx.name/ In addition, they offer a PMAM platform for traders looking to manage multiple accounts. Social trading is also supported, although only via third-party solutions like Sirix Social WebTrader and the Myfxbook AutoTrade platform.
What did our traders think after reviewing the key criteria?
Furthermore, spreads on some LimeFx accounts are variable, while other accounts have fixed spreads in normal conditions, so you can choose which type of account seems preferable for your particular trading style. The broker also warns on its website that spreads during overnight trading might be wider. LimeFx offers an extensive choice of Contract for Difference (CFD) instruments.
- These products may not be suitable for everyone, and it is crucial that you fully comprehend the risks involved.
- It is important to note that between 74-89% of retail investors lose money when trading CFDs.
- Prior to making any decisions, carefully assess your financial situation and determine whether you can afford the potential risk of losing your money.
- All account types allow traders to access a Dedicated Account Manager on a 24/5 basis and the Dealing Department Transaction Hotline.
- The broker allows you to trade all major pairs and crosses, as well as some minor and exotic pairs.
The accounts of EU traders are protected up to EUR 20,000 via the Investor Compensation Fund (ICF) of Cyprus. Broker provides its customers with standard contact options on its website that can be used to make general enquiries and get support on technical issues. These include telephone, live chat and an email contact form with staff available on a 24/5 basis during the trading week. Over the weekend, you can leave a message for when support resumes, as shown below. Most clients pay away the dealing spread on a transaction when they enter and exit a position. They offer a spread-free account, although it does charge a commission on each lot transacted instead.
Not Registered with LimeFx?
While day traders and scalpers should not have to worry much about swaps, those who use longer-term trading strategies can incur this potential extra charge. When it comes to cryptocurrencies, LimeFx recently partnered with EmurgoHK in 2018 to create a new cryptocurrency exchange called IronX. The IronX Exchange is a world-class, regulated cryptoexchange that lets you trade a variety of digital coins. You can also perform fiat-to cryptocurrency conversions, and leverage options are available for traders. In addition, LimeFx offers expert fundamental and technical analysis, as well as a news feed and a good selection of video tutorials and written educational material. You can even get a free VPN server to make running automated Expert Advisors (EAs) safer during overnight sessions and other unattended times.
For Live Floating and Live Fixed Accounts:
To start trading on the IronX Exchange, you will need to verify an account by showing proof of your address and identity. There is also a referral bonus that starts at 20% of the trading fees incurred by anyone you refer to the exchange via a referral link, which goes up to 40% if you hold 12,500 IRX and to 50% if you have 25,000 IRX. LimeFx does not offer its services to residents of certain jurisdictions such as USA, Iran, Cuba, Sudan, Syria and North Korea. LimeFx does not offer its services to residents of certain jurisdictions such as USA, Cuba, Sudan, Syria and North Korea. As such we may earn a commision when you make a purchase after following a link from our website. To add your LimeFx account to MT4, you have to first ‘Register’ with the broker by filling out some basic info like your name, country, base currency and your preferred password.
Depending on the account type, the minimum deposit could vary from $100- $10,000. The deposit on the micro account is the least and the VIP account the highest. Official website has an easy-to-read format with links to all the basic areas you might find useful or have questions about. In addition to a helpful FAQ and some educational material, the website offers the latest market news and in-house expert analysis, as does its free mobile research app. The main usability issue is with the lack of communication between LimeFx’s CFD and cryptocurrency trading platforms.
Also, LimeFx does not charge withdrawal fees, but your bank or payment portal could levy a fee. The tier-I regulators in Europe and the UK ensure that the broker’s retail clients receive low leverage, negative balance protection and investor compensation against defaults. Most notably, the broker offers its own version of the popular, straightforward and sophisticated MT4 platform. LimeFx also offers a free research mobile app shown in the screenshot below. The IronX Exchange charges different fees depending on whether you are a “maker” who places limit orders or a “taker” who deals at the market price.
You should ensure that you understand the risks involved and seek independent financial advice, if necessary. UK traders can make deposits directly in pounds sterling (GBP), as well as in USD, EUR, AUD, JPY, CHF, PLN, RUB and HUF. Deposits made in different currencies are converted to the base currency of your trading account at prevailing exchange rates.
LimeFx Review Navigation
Once the download is complete, log in by choosing ‘Open a new account,’ select LimeFx, and enter your MT4 username and password that you received in the LimeFx welcome email. With last week providing a pleasant surprise for traders at the last day, the new one begins with new hopes for better days. Notesco Limited is registered in Bermuda with registration number and registered address of Nineteen, Second Floor #19 Queen Street, Hamilton HM 11, Bermuda. The group also includes CIFOI Limited with registered office at 28 Irish Town, GX11 1AA, Gibraltar. If you are interested in how we review, then read further to determine if the broker will satisfy your trading needs and whether it makes sense to open an account with them today. Broker now has a global presence with offices in more than 60 countries and customers in over 180 countries that it supports in 45 different languages.
The broker’s wide range of CFDs include those based on an extensive list of forex pairs, in addition to commodities, indices, futures and over 100 individual stocks. When it comes to forex trading, LimeFx offers access to an impressive range of 120 currency pairs. The broker allows you to trade all major pairs and crosses, as well as some minor and exotic pairs. The reviews posted on some websites suggest that the broker may offer an Islamic swap-free account, although that option was not listed among the available options when this reviewer attempted to open a live trading account. Broker also allows you to use third party trading robots and automate your own trading plan, which you can implement using MT4. According to the terms of the withdrawal, you can receive only the deposited amount via the payment method.
Also offers zero-commission trading for UK residents with fairly competitive dealing spreads that can either be fixed or variable, depending on the account type you select. Trading financial products carries a high risk to your capital, particularly when engaging in leveraged transactions such as CFDs. It is important to note that limefx scammers between 74-89% of retail investors lose money when trading CFDs. These products may not be suitable for everyone, and it is crucial that you fully comprehend the risks involved. Prior to making any decisions, carefully assess your financial situation and determine whether you can afford the potential risk of losing your money.
Offers an unusually broad variety of trading account types that should suit most traders, and traders can register multiple account types. All account types allow traders to access a Dedicated Account Manager on a 24/5 basis and the Dealing Department Transaction Hotline. All of the accounts currently supported by LimeFx allow dealing in minimum lot sizes of 0.01. In the UK, LimeFx offers the choice of four account types in multiple base currencies – Micro, Premium, VIP, and Zero fixed. Besides, you can also choose between no commissions, zero spread and absolute zero accounts.