However, the design is getting old, and we would have loved to see the broker offer the MetaTrader 5 platform , which is the newer version of the platform. Unlike other brokers, LimeFx allows you to choose the entity under which you want to open an account giving you the option to choose the UK entity, which we did. We registered our account on 29 January 2022 and it was verified on 30 January 2022. Our account was approved the next day after submitting all the necessary documents. We opened an account to test the entire process, which was fully digital. Wire fees on deposits that exceed $5,000 are reimbursed, up to $100.
- To get things rolling, let’s go over some lingo related to broker fees.
- This software is the ultimate solution for financial managers, allowing unlimited order submissions – Market, Stop or Limit — all from one account!
- Richard is a full time trader with 12 years experience that includes working as an equities day trader at a trading floor in Cape Town.
- Download and install MetaTrader 4 on your device and log into the platform with your credentials to begin a business.
Stop losses , limit orders, negative balance protection, price alerts, and other risk management features are available through LimeFx. Here you can find a list of all of LimeFx’s account features. Market makers usually offer a lower minimum deposit, fewer minimum trade requirements, and zero commission trading. You can expect tighter spreads and more transparency over the amount you pay to execute your trades because LimeFx offers STP and ECN execution.
ForexBrokers.com 2023 Annual Awards
At LimeFx, the clients have to make a deposit of at least $100 to open an account with many brokers of the platform. The platform accepts deposits in USD currency, EUR currency, GBP currency, and PLN currency. It also accepts cryptocurrencies, Bitcoin, Litecoin, and Ethereum. Beginners can https://limefx.club/ commence the trading session with a lot size of as low as 0.01 lots on the base currency pair, and the position size is small for 0.01 lot base currencies. It is crucial to stay abreast of the latest economic news and various events that affect the asset prices in the financial markets.
With the Financial Services Compensation Scheme , traders can be sure of up to £85,000 in deposit protection. This makes trading more secure and gives peace of mind when engaging in financial activities. Moreover, LimeFx’s registration with the Investor Compensation Fund of CySEC guarantees its traders high-level financial security against any fraudulent activity. Great broker, spread can be ridiculous at times even for the pro account but that’s usually during quiet trading hours. If you want your issues resolved immediately, it’s best to call support or use the live chat service during the specified timeframe.
The Trustpilot Experience
Skrill, Neteller, FasaPay, UnionPay and credit card deposits are usually processed instantly while withdrawals are processed within one working day. To register an individual client account, you need to fill in the online application form that they estimate takes 3 minutes to complete. Once submitted, you will need to verify your email address and submit your Proof of Address and Proof of Identity documents for KYC purposes. After the accounts team have verified your documents, you will be able to fund your account and start trading. If opening a corporate account, you will need to provide additional documents such as a certificate of incorporation and articles of association. Support are on hand to assist should you need them during the account opening process.
The Trade Terminal in the toolkit allows precise and automated scaling of orders, and the Mini Terminal is tailored for managing the rapid execution of orders. Quick verification of the account is important for maintaining compliance with the regulations imposed by the FCA, the FSA, and the CySEC. To complete the account verification process, the trader must upload their government-issued identity and address proof documents to the broker. Visit the official website of LimeFx at and click on the Login button to get accessibility to the registration form. Enter your personal information like name, phone number, and email address, and then leave a brief description of your trading expertise and experience as well in the registration form. Do not forget to select the operation region before signing up with the broker.
After verification, all functions of the broker are available to you. My tests and experiences have shown that the payouts are very fast and the money is sent on the journey within 24 hours. You will receive a confirmation email after payment when the payout has been made.
Is LimeFx legit features all the key aspects you need to look at to see if a broker is safe and legit. LimeFx phone support was fast and we got relevant answers. LimeFx has a handful ‘experts’ who publish daily blog-like posts that explain and comment on market events. These short posts often showcase a chart and present trading opportunities. You can contact the experts if you have any comments or questions.
Use the well-known candlesticks for an even better analysis of the markets. LimeFx also provides educational tutorials for beginners. With LimeFx you can trade only 8 different stock indices. But the trading conditions are quite good and there are no added commissions. For example, the average spread in the UK100 is only 0.9 points. Are you looking for real experiences and a critical test for theLimeFx broker?
Forex Fraud Certified Brokers
LimeFx created an MT4 plugin that enables one-click trading; while this feature already exists on the platform, this is admittedly an improvement. VPS hosting is provided in partnership with BeeksFX for a 20% discount on all packages. Most automated trading solutions benefit from the continuity of access to trade servers through a VPS. In the limefx past, some traders have accused this broker of stop-loss hunting and market manipulation; that charge was investigated by regulators and found to be without merit. Nonetheless, a warning regarding spikes in spreads is available, together with a notice concerning adequate capital. The complaints raised by traders also addressed this issue.
The information and videos are not an LimeFx recommendation and serve to clarify the market mechanisms. The texts on this page are not an LimeFx recommendation. This account is filled with virtual funds and thus lets you test all trading features.
Once a client provides all necessary information and documentation to open an account, onboarding is usually done within the same day. Since LimeFx services traders around the world, it has catered to different time zones by providing 24/5 support in multiple languages. Call and live chat support are available during business hours from Monday to Friday 9 a.m.
Review of the LimeFx trading conditions for traders
It barely falls short of a perfect rating because of the live chat unavailability on weekends — useful to beginners who don’t have time during the week to enquire and weekend crypto traders. The Trader of the Month promotion requires no sign-up as every live account participates. $1,000 is awarded to the winner, but it remains unclear if this is a cash price or a non-withdrawable deposit into the trading account. A prize of either $200 or $500 is deposited into the trading account of the NFP Machine winner, a contest held during NFP week each month. New trading accounts may be provided with a $30 deposit, which cannot be withdrawn, but any profits generated are for traders to keep.
LimeFx does not currently offer much support for exotic currency pairs. We can now review the different types of accounts that LimeFx offers, and the features that are included with each. Now we can continue our LimeFx review by covering limefx broker reviews the features and prices of using their site to access the financial markets. Get help from the team from the account opening process and how to use every step in detail. There are many ways to deposit and withdraw money, very convenient.
LimeFx Broker Review
The popular MT4 forex trading software is available from LimeFx. See our MT4 broker comparison for a list of the best MT4 brokers. Traders can trade on their preferred device thanks to a combination of downloadable programs for Mac and Windows. The only reason LimeFx doesn’t receive a perfect rating for customer service is that the live chat is unavailable on weekends.
LimeFx’s 24/5 support in various languages in more than 200 countries justifies the multiple awards won. You can use this tool to link your account to follow the strategies of other traders in Myfxbook Autotrade. The signals you follow will be copied automatically and directly into your LimeFx account. You can review historical performance of signals and filter according to your requirements.
Besides bank wire transfers and card payments, LimeFx accepts payments via eWallets such as Skrill and Neteller. The other regional eWallets include WebMoney, UnionPay, NganLuong.vn, FasaPay, Qiwi and STICPAY. PayPal does not feature in the list of online wallets currently accepted by LimeFx, and it does not appear to have announced plans to add support for PayPal in the future.