Nevertheless, the overall services are impressive, and we determined the choice of platforms and ECN/STP conditions to be excellent for active traders. There are 7 different account options granting access to five asset classes, but the actual number of tradeable instruments is lower. Overall, beginners will certainly limefx scammers appreciate the trader-friendly conditions offered by FXTM as they can scale up their trading strategies by choosing the advanced account options in the future. This often limits Muslim traders because not all forex brokers cater for positions being held open overnight without the risk of overnight fees.
Markets.com – A Trusted Forex Broker with Great Overall Services
- Suppose your deposit amount is $400, so the number of trading lots should be at least 100, which means you can withdraw the deposit amount after 100 lots.
- The broker offers 8 different asset classes through its trading platforms, both on the desktop and mobile versions of the AvaTrade apps.
- We also found the website to provide outdated information, possibly due to a lack of proper maintenance.
- You can utilise all of the features available for trading, including expert advisors for automation.
LimeFxFX offers two types of trading accounts with both being the same except one is with the MetaTrader 4 (MT4) trading platform and the other is with the MetaTrader 5 trading platform (MT5). For both account types offered by LimeFxFX, spreads are floating and start from a minimum of 0.8 pips and have an average of 0.9 pips for the EUR/USD currency pair. This means the trading spreads will get either tighter or wider, depending on market volatility, time of day, and other factors.
Education at LimeFxFx
️ The benefit is that negative balance protection is applied to the account. ️ The ability to use any trading strategy including hedging, scalping, expert advisors, and other algorithmic trading and automated trading systems. LimeFx also uses strict “Know Your Customer” (KYC) procedures where the identification and address proof of all new traders are verified, ensuring that all transactions are secured and authorized. Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors with quality data they can trust.
The process to Withdraw Funds from an LimeFx Account
With this in mind, we think it is safe to say LimeFxFX does not live up to its claim of having the lowest spreads in the market. Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site. 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.
Educative Webinars and Customer Support
ASIC regulatory protection extends only to traders in Australia, while global clients are redirected to the company’s international brokerage division, which operates out of Saint Vincent and the Grenadines. Another major concern is that the broker does not guarantee negative balance protection, implying that traders can lose more money than deposited. This feature is mostly standard across the industry, and its absence does detract from the appeal of LimeFx.
Muslim Traders who use the Islamic Account do not pay additional fees to cover the absence of overnight fees, which is something that sets LimeFx apart from its competitors. ️ Access to both CFD trading and comprehensive cryptocurrency trading. LimeFx also uses some of the most secure technology to ensure that all personal data and financial transactions are encrypted and secure. This is achieved by providing an SSL-secured Personal Area, with 128-bit encryption.
LimeFx FX Charting and Tools
However, deposits via Skrill, Neteller, Visa, Mastercard and crypto are instant. Below is a tabular review of the various deposit methods and the processing time. The broker offers a 50% deposit bonus on all account types except Islamic and demo accounts. Suppose your deposit amount is $400, so the number of trading lots should be at least 100, which means you can withdraw the deposit amount after 100 lots. Given its responsive and multi-channel customer service and the supplementary resources provided for customer support, LimeFx showcases a strong commitment to assisting its clients.
Payment methods refers to the various mediums by which users can credit and withdraw from their accounts. LimeFxFx offers its users different payment methods to be used either for deposits or withdrawals. The trading interface of the mobile app is quite basic, yet it is functional. Its only limitation to client is its small screen resolution, hence, making deep technical analysis somewhat difficult. This broker charges no fees on currency conversion during deposits and withdrawals.
Going by customers’ review, LimeFxFx can be said to be unworthy in light of numerous complaints heralding withdrawals, especially on large size accounts. The broker also asserts its technical environment is constantly monitored and protected by dedicated teams of technical specialists and security. It has management systems that ensure that clients do not lose more than initially invested. If account balances become negative due to Stop-Out, LimeFxFx compensates the account by adjusting the account balance to zero, ensuring the risk is limited to only deposited funds. LimeFxTrader offers a fine array of charting tools to allow for a smooth desktop trading experience. From trend lines, to crosshairs, to zoom tools, they offer a broad range for trading optimization.
For instance, the minimum deposit is just $5, making the broker accessible to a wide category of retail forex traders. An innovative FX and CFD broker that offers world class trading platforms and an impeccable trading experience. Home to an amazing array of trading tools and social trading options for both mobile and desktop traders. LimeFx’s demo account offers https://limefx.name/ the same trading conditions and forex trading experience as the real trading accounts. However, traders do not trade with real money, and they have unlimited access to the demo account regardless of what they use it for. The company does not have a presence in the Americas, but it does cater to global retail traders through its brokerage in the Seychelles.
Ultimately, you can try out different platforms by opening a demo broker account and trading the markets using a simulated balance. This will help you find the right platform for you without risking real money. Therefore, professional traders can access their preferred instrument from different financial markets across the world through a single FXTM account, without switching between multiple brokerage accounts. However, the company compensates for the absence of ECN accounts with an excellent pricing structure for its market maker accounts, allowing traders to benefit from cost-effective trading. There are also no restrictions on trading activities such as hedging or scalping, so traders can employ all kinds of strategies. Therefore, in our experts’ opinion, LimeFx is the perfect choice for retail online FX trading.
The MT4 platform has ultra-intuitive charting options and all the most common technical indicators. It’s very simple to enter buy and sell orders, as well as set stop-losses, you can even use Expert Advisors (EAs) for automated trading. Saint Lucia allows companies to self-regulate as long as they comply with the country’s laws. This means clients with LimeFxMarkets don’t have any form of regulatory protection so you can only trust LimeFxFX operations meet the standards you would hope. As this subsidiary is not regulated, LimeFxMarkets can be called an offshore broker. Regarding account currency, if you join the LimeFxFX European subsidiary, you will use Euros.