There’s no minimum deposit, and LimeFx accepts a wide range of payment methods. These include bank transfers, credit cards (Visa and Mastercard), electronic wallets, and cryptocurrency. As payment options vary from country to country, we suggest creating a free account on LimeFx.com to see which options are available to you. Our relentless pursuit https://limefx.group/ of operational security is anchored in our solid regulatory framework, meticulous segregation of client funds, and our fortified association with the Investor Compensation Fund. Each of these elements interweaves to form a robust tapestry of security, reflecting our unwavering resolve to protect our clients’ assets and interests.
Your portfolio and any live forex positions may become liquidated if you don’t have enough margin because you’re trading at the limits of leverage. Investors use leverage to enhance their profits from forex trading, and historically the forex market has provided the highest amount of leverage power available to retail investors. Close to $5 trillion worth of currency gets exchanged each trading day.
- We aim to provide our clients with the most competitive forex spreads available, even under turbulent market conditions and during pivotal data and news releases, ensuring a sustained trading advantage.
- According to LimeFx, many of the procedures the broker has adopted “go beyond” the basic rules and regulations imposed upon it in various countries.
- While an interactive course or videos are not available, the existing content provides a well-thought-through introduction to trading.
- These combine well with LimeFx’s free forex VPS, hosted by BeeksFX, which is available to traders who deposit at least $2,500 and trade at least 30 lots per month.
The ECN XL Account stands as one of the most economical gateways to forex trading. Access via our award-winning XL Account over the MT4 platform, accords traders of all expertise levels an optimal choice, enabling them to kickstart their forex trading under exceedingly competitive conditions. Our raison d’etre is to craft the most customer-oriented proposition within the industry.
LimeFx has been operating as a legitimate broker for over a decade and has accumulated many positive client reviews in this period. Withdrawals are free for card transactions but subject to fees for all other forms of payment. For example, many are charged standard bank wire fees that sit between $30 and $45. Leverage allows you to increase your exposure to an underlying asset by leveraging a deposit, known as margin. High leverage is like getting a loan from a broker, but there’s no interest to be paid. It’s like getting a business loan from a bank without needing to pass a credit check.
The broker supports the popular MetaTrader 4 trading platform with multiple terminal capabilities and a multi-account manager. You can also access the LimeFx MT4 platforms on Android and iOS smartphones and tablets. LimeFx employs an electronic communications network/straight-through processing (ECN/STP) model, so you get tight forex dealing spreads from top Interbank liquidity providers. To evaluate brokers, we test the accounts, trading tools and services provided.
This is a convenient range and I was especially happy with the inclusion of crypto payments as these are highly flexible and should work for traders based almost anywhere. Still, LimeFx has done well by providing an attractive, affordable and simple account option for day traders who will appreciate having no trading restrictions or minimum deposit requirements. Ordinarily, we prefer to see a choice between a commission-free account (geared towards beginners) and one with raw spreads and low commissions (geared towards advanced traders). However, LimeFx has outdone many competitors by offering the kind of tight spreads you’d expect from ECN accounts without charging a commission. Our advanced Price Aggregator continually scrutinizes the Bid/Ask prices entering our ECN system, displaying the optimum price combinations sourced from our liquidity providers. This dynamic pricing mechanism creates a professional trading sphere for all levels of traders, opening avenues for enhanced profitable trading.
Open your account online and contact your account manager for more information. In our opinion, its Islamic account is one of the best on the market because you can keep your positions open for as long as you want without incurring additional costs. In alignment with our steadfast commitment to client security, all client funds are meticulously held in segregated accounts.
Is LimeFx a good broker?
Customer support is very important for new traders, and LimeFx offers it in the form of 24-hour customer service that runs five days a week. These customer service agents will help you figure out any issue you have. While an LimeFx no deposit bonus does not exist, LimeFx offers a 100% first deposit bonus with a $2,000 limit. Terms and conditions apply, and I urge traders to read and understand them before accepting the incentive. LimeFx occasionally introduces other bonuses and promotions, which have included a $50 LimeFx no deposit bonus or annual interest on free margin. Customer support is available 24/5 via e-mail, webform, phone, fax, and live chat.
Clients can access a margin calculator in the trader’s hub to preview how different leverage levels would affect a position. A competitive range of commodities markets forms the backbone of any serious CFD brokerage and, unfortunately, LimeFx is lacking in this regard. While clients can access five precious metals contracts, covering gold, silver, palladium and platinum spot markets, there are a mere two energies markets (UK Brent oil and US Crude oil) and no soft commodities.
Trading conditions
No opinion given in the material constitutes a recommendation by LimeFx or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The limits set in place by the European Securities and Markets Authority will have a profound effect on the size of transactions you can execute because it relates to the capital and available margin in your account. Once you take the leverage on offer from your broker, you must meet the obligation of this liability. Whether the transaction wins or loses, you must pay for the principal amount. Leverage can help you to squeeze profits out of FX trading when volatility is low.
We offer impartial reviews of online brokers that are hand-written, edited and fact-checked by our research team, which spends thousands of hours each year assessing trading platforms. LimeFx is good for day trading thanks to its limefx company reviews very tight spreads in the ECN account, leverage trading opportunities, and access to the fast and dependable MetaTrader 4 platform. We have not experienced any security concerns during our many hours using the trading platform.
Client Fund Segregation: A Pillar of Trust
Our regulatory compliance extends beyond our CySec regulation in Cyprus, manifesting in our possession of the MiFID passport for financial services firms within the broader realm of the European Union. This comprehensive regulatory alignment underscores our unwavering commitment to maintaining high standards of compliance, transparency, and ethical conduct. Our membership with the Investor Compensation Fund (ICF) is a testament to our dedication to providing an added layer of financial assurance. This arrangement is an integral part of our security apparatus, aimed at fortifying our clients’ confidence.
Tools & Features
Whether you have withdrawal problems, require help using MT4 or have a general inquiry about the broker, speedy and effective customer service is a must. Education is one of LimeFx’s strongest attributes, with a learning centre sitting on the website complete with articles on forex trading essentials, strategy examples and chart reading. Usually, when you utilize leverage in excess, you can observe that you only need to lose a few trades to negate the effects of your many winning trades. In this section, several questions on leverage and margin are to be addressed. Trading with leverage has the first and most important benefit of earning more money for less work.