LimeFX seems like a solid forex broker, but why only one account? They could make an account for more sophisticated traders with some additional features. Great trading conditions, spreads specifically, MT4 as a single option though. We score and compare forex brokers in more than 15 categories. The most important of which include regulatory credentials, the accessibility of accounts, coverage of the forex market, the quality of trading tools, and the competitiveness of fee structures.
Is LimeFX A Regulated Broker?
In conclusion, LimeFX stands out in the competitive forex brokerage landscape by offering a reliable and transparent trading environment. The broker’s commitment to technological excellence, diverse account options, and client-focused services make it a compelling choice for traders seeking precision in their forex endeavors. The diversity of financial instruments which this company offers to customers is really huge. They have been running the business for over 14 years, so it seems they managed to add a lot of instruments for all this time. I like how tight spreads they provide on the forex market and the spreads are even more tighter than from other major and famous brokers.
LimeFX has published 11 educational e-books covering a wide spectrum of topics (building a trading plan, trading mentality, scalping, etc.). What I found limefx particularly useful is the extra attention paid to trading psychology. Understanding how to adopt a proper trading mentality is especially important for long-term success in the market.
After a year of trading on this…
His expertise is swing trading and limefx day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor’s degree in Economics and International Relations.
Plus the spreads are tight.My overall trading experience and profits improve by far just by changing the broker I trade with. Positives are the no minimum deposit, free demo account and excellent support, however it lacks the educational tools or social trading features provided by category leaders like eToro. LimeFX has earned a good score for its fees due to the tight ECN spreads combined with no commissions, an unusual pricing model that places this brand among the cheapest forex brokers we have reviewed. In addition to offering free access to a Virtual Private Server (VPS), LimeFX currently offers an attractive bonus to account openers. You just open an account and make a deposit to receive an impressive 100% deposit bonus in your trading account up to a maximum amount of $2,000.
The deposit is low, the MetaTrader 4 platform is one of the best for forex trading, and the tight spreads through the ECN model are competitive. Still, I feel that LimeFX could become a more attractive forex broker by expanding the range of tools it supports. One excellent addition would be copy trading, allowing rookie traders to mirror and learn from more experienced peers, who can earn commissions from copiers. While they could make some more account options, the only account available fits all kinds of trading strategies.. It is worth mentioning that they don’t charge trading fees,, which is rare for an ECN account.The only platform available for trading is MT4, keep this in mind. The average spread for major currency pairs is below 0.5 pips or less than $5.00 per lot, offering traders a distinct pricing environment advantage.
- However, its rugged chart screens and order-placing capabilities are outclassed by newer and sleeker platforms.
- Client deposits remain segregated from corporate funds at both entities with leading international banks, but LimeFX does not list them.
- LimeFX adheres to important rules set by this regulator including the segregation of client and business funds and the use of reputable international banks for the safekeeping of client money.
- If an important news event occurs, such as a key economic data release, the EUR/USD dealing spread can widen considerably depending on how much market volatility the event causes.
- LimeFX provides its clients with Virtual Private Server (VPS) hosting for low-latency automated trading.
Deposits & Withdrawals
The broker is regulated by the Cyprus Securities and Exchange Commission (CySEC), adding an extra layer of credibility and assurance for traders. It also offers daily market breakdowns, outlining current trading opportunities. The broker, however, does not incorporate research content from third-party providers.
I also find the FAQs section on the website a useful way to solve basic queries. This makes the broker a worthwhile option for serious forex traders who will also enjoy the VPS service and MT4 support. Importantly, we never recommend choosing a forex broker based on their bonuses as they can encourage bad trading habits. LimeFX’s stop-out kicks in when your margin level drops to 50% or lower. At this point, the forex broker will begin to close your positions until the margin level of your account is above the threshold again.
LimeFX offers demo accounts that introduce traders to the broker’s services and allow them to tweak their strategies in a risk-free environment. The market is continually evolving and never static, so it is important to hone your skills in a safe environment. You can set up a demo account along with a live CFD account. I rank trading costs among the most defining aspects when evaluating an exchange, as they directly impact profitability. LimeFX offers traders a competitive commission-free trading environment.