Less experienced traders do not have to go for the maximum and can instead choose a lot more comfortable leverage. Trading with a regulated broker will limit the potential for fraud and malpractice. I always recommend traders check for regulation and verify it with the regulator by checking the provided license with their database. The LimeFX group presents clients with two regulated trading entities and maintains a secure trading environment. Whether you begin with a minimum deposit or a more substantial amount, the key lies in gradually improving your understanding of the forex market.
Trading Platform
Round-turn commission, meaning that a trader’s costs will remain constant regardless of scammed by limefx the underlying market sentiment. The account is equally suitable for high-volume and high-frequency trading. There is a detailed description of each account type’s spreads and commissions. Additionally, all the safety mechanisms, execution methods, and standards are explained in detail in LimeFX’s Client Agreement. The broker entity does have comparatively high maximum leverage, but selecting a multiplier is up to the trader.
- The copy trading tool is excellent for beginners looking to learn from seasoned traders while experienced investors can generate an additional revenue stream.
- Also, LimeFX reserves the right to apply a 3% ‘no trading’ fee when a trader has deposited and requested to withdraw funds without ever entering one trade.
- As shown above, the latter tend to have more favorable spreads and commissions.
- You can choose from a great variety of trading platforms with low pricing and fast execution speeds.
Deposits and Withdrawals
LimeFX customers can choose from a good range of deposit and withdrawal methods. Try our exclusive STP Zero Spread account and enjoy spreads as low as 0 pips. For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. This includes pros, cons and an overall rating based on our findings. We aim to help you find the best broker according to your own needs.
They provide fast trade execution speeds with no requotes and spread starting from just 0.0 pips. LimeFX, founded in 2010, is a forex and CFD broker regulated by multiple authorities, including ASIC, FCA, and under MiFID regulations. While it offers a variety of trading instruments limefx reviews and platforms, its overall offerings and ratings are average in the competitive forex market. Currently, clients of LimeFX can only trade on MetaTrader 4, which is rather cumbersome and outclassed by newer trading platforms. Additionally, LimeFX’s customer support seems to struggle with addressing more complex questions, such as what their average execution speed is. In general, LimeFX’s offering is slightly more competitive than the industry average.
Forex trading for beginners
To verify your account, you need to provide both Proof of Identity and Proof of Residence documents. Provided by Trading Central, the Technical Views section affords a more detailed insight into current trading opportunities. Price action is examined more intricately, utilizing more indicators. The materials underpin key support and resistance levels and pivot points. It is even more cumbersome than the platform’s desktop version, and carrying out sophisticated technical analyses on a small-screened device is virtually impossible.
Overall, LimeFX is a very well established and reputable trading broker that serves all types of traders from around the world. They give you convenient access to a generous range of trading instruments across multiple markets. The advanced trading technology incorporated ensures that the trading conditions are some of the best available with competitive spreads (fixed/variable) and competitive trading costs. There are plenty of account types and payment options to suit all types of traders whilst each client is treated equally.
For example, a long position on gold would generate a profit as the price rises or incur a loss as it falls. One of the biggest advantages of trading CFDs is that traders can get in and out of the market almost instantaneously, thereby catching even minute changes in the price of the derivative. LimeFX incorporates MetaTrader 4, which is quite popular among beginners for its simplistic design though I find it outclassed by newer and more user-friendly platforms. LimeFX also has its proprietary app, which surpasses MT4’s equivalent in functionality.
All BrokerNotes content is researched, fact-checked, and edited by the research team. Luke Jacobi is a distinguished professional known for his role as President at Benzinga, a renowned financial media outlet. With a background in business operations and management, Luke brings valuable expertise to his position, overseeing various aspects of Benzinga’s operations. His contributions play a crucial role in the company’s success, ensuring efficiency and effectiveness across different departments.
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