LimeFx Broker Review 2023 Is it Safe or Scam? All Pros & Cons

LimeFx Group has evolved into an online multi-asset broker offering 57 currency pairs and 1000 CFDs. Five CFDs on cryptocurrencies are also offered covering Bitcoin, Dash, Ethereum, Litecoin and Ripple. LimeFx is an online broker and trading website that allows clients to trade a range of assets.

As a whole LimeFx is a trusted broker that has a solid and unspectacular offering for their users. They look after the needs of their clients through quality customer support and they have regular promotions such as a free VPS service. There is a library of free educational materials for LimeFx users including the likes of week interactive webinars and video tutorials.

• The management team of LimeFx has visited more than 120 cities to meet with partners and clients.
• The Intermediate Education Room is open to those with a validated LimeFx account.
• Along with this, by using MQL4, investors can write their own custom indicators and use them in addition to those already available on the MT4 client terminal.
• Swing and positional traders are suited to a standard account.

To view the schedule, simply click on the language of your choice. The Daily Technical Analysis focuses on forex markets and includes simple technical indicators. The Weekly Forex Outlook covers the main events of the past week and explores their effect on major currencies.

What is Important in Forex Trading?

Majority of brokers that have a dealing desk (DD) and therefore at times of volatility can’t offer the best prices to their users. ECN brokers offer no-requotes they have direct access to liquidity providers. LimeFx along with the majority of brokers charge a spread to their clients and that is the reason why the majority of traders choose a broker with low spreads. Spreads can be calculated by spread value in pips × traded lot size. Traders registering with LimeFx have the choice of three account types- The Micro, Standard and the Zero Account. While the trading conditions like the number of base currencies, contract size, and the spread are a factor of the account type, the CFD broker does not charge commissions.

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 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. To gain access to any of the LimeFx trading platforms, you will need to have a demo or a live trading account. Each unique account provides you with a login number that allows you login to the trading platform that you selected during the registration.

Who Is LimeFx Group Recommended For?

All our systems are built and updated with the client in mind. Starting from our account opening procedure, to managing your account, depositing or withdrawing funds and finally trading, it’s all straightforward simple and easy to use for all our clients. A spread is the difference between the bid and the ask price of a currency pair (buy or sell price), and so to make it even easier it is the price at which your broker or bank is willing to sell or buy your requested trade order. LimeFx is a large and well regarded company with some good offers and is well regulated so you can feel safe when choosing this broker to trade with. There are four account types to choose from, plus the ability to customize an account.

LimeFx MT5 Features

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. There is a news tab, a research tab which encompasses all of the exam bespoke, in-house research. Furthermore, there are trade idea and technical summary sections, alongside the economic calendar. In addition, there is the impressive LimeFxTV and also a podcast offering. Given LimeFx only offers the MetaTrader options as a trading platform, the iOS and Android mobile apps from LimeFx are just white labels of the MT4 and MT5 apps that area available.

Mobile Trading- Android & Apple Support

The only costs are the spread, which starts at 0.1 pip for the major FX pairs and the swap for holding overnight positions. All LimeFx clients have access to a personal Account Manager, as when it comes to customer service, the size of your account does not matter. When it comes to customer service and support, LimeFx is hands-down one of the industry’s leading brokers and we were impressed by LimeFx’s customer-centric approach to trading. In this LimeFx review, we’ll be taking a look at all you need to know about LimeFx, including regulation, pricing, their trading and mobile platforms, types of account, their research and education.

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Islamic or swap-free accounts do not have any rollover or swap interest for overnight positions. LimeFx can also help clients create custom-tailored accounts for trading forex. An Islamic account is optional and the minimum deposit is $5. Trading on MT4 must https://limefx.name/ meet the trade volume minimum of 0.01 lots, which is 0.1 lots on MT5. These clients can only have up to 200 positions open or pending at a time. Micro Accounts can have the base currency of USD, GBP, EUR, CHF, JPY, AUD, PLN, HUF, RUB, ZAR, or SGD.

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 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. In simple terms, each LimeFx client is provided access to a trading platform (i.e. software) which is directly connected to the global market price feed and allows them to perform transactions without the help of a third party. By making our world a smaller and more global place, this automatically means that people, goods and services can travel faster and more easily. This also means that a necessity of currencies to be traded against each other is needed in order for this to happen.

This helps the broker appeal to those all over the world and of any skill levels. LimeFx also has 16 full-feature trading platforms for clients to choose from. Overall LimeFx is a broker we can recommend without any hesitation. Everything that is important and required when choosing a reliable LimeFx has that covered. They have a range of accounts to suit the needs of traders trading a variety of strategies.

There are more than 1,000 instruments available to trade via this platform. With a single login, you can access 8 different platforms. Even in cases of illiquidity and volatility, LimeFx has a competitive policy.

Now all you have to do is, click on the “member login” button and fill in your user ID and password. However, if demo account is inactive (i.e. not placed any trades) for more than 90 days then it will be closed. You are free to hedge your positions on your trading account. Hedging takes place when you open a LONG and a SHORT position on the same instrument simultaneously.