I also love how cost-effective this platform is, the broker has beginners in mind. When we used LimeFx, our experts also found that scalping, hedging, intraday trading and swing trading are all accepted. LimeFx also offers an economic calendar while a VPS is available for $30 per month or with a minimum deposit of $5,000. The copy trading tool is excellent for beginners looking to learn from seasoned traders while experienced investors can generate an additional revenue stream.
Live Floating/Fixed Spread Accounts
- We use proprietary AI technology to assist in some aspects of our content production.
- Demo accounts expire after three weeks of inactivity and cannot be reactivated.
- Clients across Europe and the UK are offered two types of protection – segregated client bank accounts and financial compensation if LimeFx fails to pay its customers.
In addition to a helpful FAQ and some educational material, the website offers the latest market news and in-house expert analysis, as does its free mobile research app. The main usability issue is with the lack of communication between LimeFx’s CFD and cryptocurrency trading platforms. AutoTrade lets you automatically “mirror” or copy another trader’s transactions who then gets paid a small part of the dealing spread.
Trade Bumex 8.0 (8X)
My tests indicate that LimeFx’s floating spread accounts are slightly more competitive than the fixed spread alternatives in normal market conditions. However, this may change at times of heightened market volatility as floating spreads tend to rise at such times. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider.
LimeFx Customer Reviews
You won’t be surprised to find out that the deposits for MetaTrader 4 have gone down too, with an average minimum being around $100. I evaluated LimeFx’s fixed/floating spread and STP/ECN account types across multiple factors and discovered certain important differences. As shown above, the latter tend to have more favorable spreads and commissions. I found these accounts most suitable for experienced high-frequency traders looking for the most competitive prices.
MT4 is undoubtedly one of the most popular online trading platforms, with millions of traders of all skill levels using it throughout the world. It is incredibly user-friendly, offering a plethora of trading tools for effective market analysis and transactions. However, limefx forex broker it can still do everything most professional traders would need it to. If you prefer a fixed spread for your trading strategy then you could consider a no commission account. These tend to have higher marked up spreads but you do not pay a commission on trades.
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. Traders enjoy protection against broker defaults of up to GBP 50,000 via the Financial Services Compensation Scheme (FSCS), and provides extra insurance for UK clients of balances up to GBP 1,000,000. The accounts of EU traders are protected up to EUR 20,000 via the Investor Compensation Fund (ICF) of Cyprus. Overall, LimeFx stands out as a reliable and transparent brokerage firm, offering a secure and user-friendly trading experience.
LimeFx charges admin fees on some withdrawal methods in addition to a fee of 50 USD for bank transfers under 300 USD. Overall, the ongoing and initial costs on all of LimeFx’s account types are higher than other similar brokers, making it difficult to find any advantages for either beginners or more experienced traders. Additionally, it should be noted that the average trading costs at most other brokers tend to be 9 USD or lower.
In order to establish how low or high LimeFx’s trading costs are, we compared the various account types to each other, and then to the average charged by other brokers. In line with the strict regulatory environment under which LimeFx operates, all client funds are kept segregated from operational accounts and all European traders will have negative balance protection. As LimeFx operates instant execution accounts, there remains the potential for conflict of interest; but the availability of market execution accounts should satisfy any concerned traders.
LimeFx may help you improve your professional trading by improving your trading methods and tactics. TradeCopier allows you to replicate top-performing traders’ techniques in real-time. If you are new to trading or just don’t have the time to follow the markets, this is an excellent way to get started. With LimeFx’s TradeCopier, you may begin replicating trades of other traders, gaining access to their knowledge, and expanding your own portfolio. Just remember, there are no guarantees on how good or bad trading signals will perform.
I had expected to learn more about the total number of trades that were tested over the previous year, the percentages of trades that resulted in positive and negative slippage, etc. 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. A swap fee is a trader’s cost for holding an open position overnight because of changing interest rates.
In addition to its desktop platform, MT4 has mobile and web-based versions. LimeFx also offers a free research mobile app shown in the screenshot below. To start trading on the IronX Exchange, you will need to verify an account by showing proof of your address and identity. The IronX Exchange charges https://limefx.name/ different fees depending on whether you are a “maker” who places limit orders or a “taker” who deals at the market price. The maker fee for exchange transactions is as low as 0.20%, while the taker fee is as low as 0.28%. Those fees tend to be higher than average among cryptocurrency exchanges.
There is something for everybody, from the seasoned expert to the novice rookie. Content covers essential trading topics, such as technical and fundamental analyses, risk management, and trading psychology. Pretty standard for the industry, the economic calendar is a tool used by traders to inform themselves about upcoming economic releases and other major events that can create viable trading opportunities.
As LimeFx only offers MT4, on mobile as well as desktop, the mobile trading experience is limited compared to other brokers. In line with Anti-Money Laundering rules, LimeFx does not process payments to third-party accounts. All withdrawal requests from a trading account will be funded to a bank account or source in the trader’s name. Also, if there are only deposits and withdrawals on the account with no trading activity, LimeFx will take up to 3% of the account balance as an administrative fee to cover costs incurred. Although LimeFx does not charge fees for deposits, it charges high fees for some withdrawal methods.
