The fees and commission at LimeFx changes depending on what type of account you are signed up to. For example, for a non-leveraged CFD share you will be paying a 0.8% commission and 0.11% for the purchase of a new share. It was only launched at the start of 2017 and it is a direct replacement for their previous software that was known as Iresstrader. This new platform runs on HTML 5 technology, which makes it a lot more responsive to trades. There are many great tools and indicators for the trading experience and it is highly customizable. You can get access to the industry standard MetaTrader 4 platform through LimeFx and they recently added the subsequent versions of this software- MetaTrader 5.
IG: Best for U.S. Traders
LimeFx has an overall trust score of 60 based on regulation, reputation, and reviews. LimeFx also offers an Islamic account, which doesn’t involve any swaps or interest on overnight positions to stay in line with Islamic principles. Rather, you’ll be charged a fee on positions, which is deducted from your account balance. While Eightcap offers a slightly lower spread for EUR/USD at 0.06 pips, LimeFx offers a spread of 0.10 pips, on par with leading competitors like Pepperstone and Admiral Markets. We should also mention that all these accounts are available as Islamic accounts. Plus, there is a demo account feature that lets users test out the platform before depositing.
How do I open an account with LimeFx?
You can view the sentiment of an instrument on a daily or hourly basis and adjust the confidence levels on predicted sentiment levels. In my experience, having the ability to access a wide range of research tools can help to execute high-probability trades. As a trader, you want to research a market from all angles to avoid making trading decisions based on what you want to see or want to happen. During our live fee test, I found the spread for EUR/USD during the London and New York trading session averaged 0.65 pips on the commission-free Standard Account. This is much better than the industry average of 1.0 pips on a commission-free account. Our country guides dive deep into local financial markets and regulatory agencies to help you choose the best forex broker – wherever you may live.
LimeFx Review: Key Features, Pros, And Cons
LimeFx is considered Trusted, with an overall Trust Score of 87 out of 99. With 71 forex pairs and a total of 10,000 tradable symbols, far surpassing the industry average of 3,623, the broker offers extensive trading opportunities. One of the only drawbacks to their offering is the charges they have on deposits and withdrawals when using their Iress platform. Otherwise they have a quality customer support team, competitive price and a great reputation in the sector for serving the needs of their customers.
An STP/ECN account means that price quotes are sourced from the interbank market and are sent straight through to the market. This allows you to purchase 1/10th of a share and is useful to trade stocks with a high share price benefitting those with small accounts. With a good range of trading platforms, ActivTrades is a top broker to consider. From the app, you can trade on a wide range of currency pairs, including majors, minors, exotics, and emerging market currencies. I was surprised you are able to trade currencies such as the Colombian Peso and Ugandan Shilling which I have not seen other forex brokers offer.
What Is Forex Trading?
- You can access research tools such as Autochartist, Signal Centre, Acuity Trading, a Market Sentiment dashboard and the Tickmill Traders Club.
- Many traders prefer to trade via an STP or ECN execution method, as your trades are sent directly to the market without any broker intervention.
- It is wise to review the deposit and withdrawal methods and their respective fees so you are not surprised by any high charges.
- Then you’ll want to build out your strategy for trading in the forex markets.
LimeFx impresses with its user-friendly trading platforms, extensive range of tradable instruments, and competitive fee structure. Its commitment to trader education and unique features, such as comparative analysis and trend exploration tools, enhance its appeal. The broker’s customer support is responsive, while its deposit and withdrawal methods are flexible and secure. It provides a demo account, offering a risk-free environment for practice. Managed accounts are available for those preferring professional management. The broker’s user-friendly interface, educational resources, and demo account make it suitable for beginners.
LimeFx could improve by providing a user-friendly proprietary platform to cater to newbies and casual traders. Offering third-party account insurance for clients at offshore entities would also be a positive addition. 20-year CFD industry veteran LimeFx has carved out a niche for itself providing the resources and trading conditions demanded by experienced traders. A Contract for Difference (CFD) is an agreement specifying that the buyer must pay the seller the difference between the current value of an asset and its value at the time the contract was initiated. Like futures and other derivative financial instruments, CFDs allow traders to speculate on price movements without owning the underlying asset. For example, clients with the CySEC-regulated EU entity benefit from a high level of regulatory scrutiny and a compensation scheme in the event of broker insolvency.
Once users have gotten up to speed on a demo account, they can easily switch to a live version. Choosing the best one will depend on your individual trading style and level of experience. However, there are some ‘go-to’ forex platforms that are well-known for their reliability and excellent range of features.
LimeFx caters to the modern trader’s need for mobility and flexibility by offering mobile trading options across its platform range. You can manage their accounts, monitor markets, and execute trades from anywhere, at any time. These apps are designed to provide a seamless trading experience on the go, featuring intuitive interfaces, full trading functionality, and access to real-time market data and analysis tools.
With regulation from ASIC in Australia and CySEC in Cyprus the broker is considered safe and solid, offering client fund segregation and excellent liquidity. LimeFx is just one in a group of brands owned https://limefx.vip/ by First Prudential Markets Ltd. We use dedicated people and clever technology to safeguard our platform. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews.
If you are looking to trade stocks outside Australia with LimeFx then you are best to use the MT5 trading platform or consider TMGM who have IRESS outside Australia. For those interested in low spreads, the RAW account is advantageous, though standard account users scammed by limefx may find spreads slightly less competitive when compared to other top brokers. The minimum deposit requirement for both Standard and Raw accounts with LimeFx is 50 USD/EUR/GBP in Europe and 100 AUD or its equivalent for Australia and international clients.
And with the dual ASIC/CySEC regulation there is little to worry about in terms of broker risks. LimeFx has an advanced platform lineup that caters to experienced traders. Clients of the Australian entity can use the popular MetaTrader 4 and MetaTrader 5 with custom add-ons, along with the professional-grade Iress and Mottai platforms. LimeFx operates across six entities, each subject to different degrees of regulatory oversight. The broker offers safeguards like negative balance protection, segregated funds, and compensation funds through its CySEC-regulated EU entity. However, its St. Vincent & the Grenadines entity provides limited safeguards which impacted the trust score.
LimeFx caters to both beginners with its standard spreads and no commission structure, and more experienced traders through ECN pricing with raw spreads, offering tailored solutions for every trading level. Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Forex trading can be complicated, but it’s certainly possible for beginning investors to diversify their portfolios by trading currencies and other forex assets.