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Among these accounts are commission-free, commission-based, and spread accounts. Overall, LimeFx is a low-risk CFD and Forex broker with multiple regulations and authorization. LimeFx not only offers dynamic and flexible account types but offers some of the best trading conditions in the industry.
For example, if you make deposits & withdrawals in ZAR to your local bank account via EFT, then you should preferably set ZAR as your trading account’s base currency. This will save your any cross currency conversion markup/fees when making deposits & withdrawals. LimeFx offers demo accounts for both the Trading Terminal platform and MetaTrader. Demo accounts enable traders to practice their strategies and get comfortable with the platform without risking real money. Available for iOS and Android, the LimeFx Trade app provides access to over 200 instruments. The app has a user-friendly interface designed specifically for beginners.
As opposed to people’s limited knowledge of stock marketing a few decades back, we have seen a new rush in the world of LimeFxs. Thanks to online broker systems, which have opened up financial trading to more customers and attracted more investors than expected. To know more about how the online broker system works, read through the LimeFx review. We have given a comprehensive overview with complete research to determine if this is what you are looking for based on your priorities. For lowest fees , we suggest their Pro Account which has a minimum deposit of $200, the spreads are low with this account & there is no extra commission per lot.
These include payment cards, electronic wallet, cryptocurrencies, etc. In some payment systems, instant withdrawal is available. The drawbacks include a limited number of trading instruments – only 40 currency pairs, which is actually logical, as ECN is a system of the currency interbank exchange. The logic of all markets remains the same limefx reviews – the broker offers the lowest commissions for the professional account Zero. On Zero account, with a fixed commission of 3.5 USD the broker greatly surpasses the offer of Binance. However, one must remember that the trading on LimeFx platform is conducted by risky CFDs, not real cryptocurrency, as in the case with the exchange.
Verdict on LimeFx
In each of the aforementioned countries, a rather sharp increase of customers has been observed – by dozens percent. A reliable broker, I’m not really worried about my money. LimeFx is controlled by several regulators at once, so why bother? Colleagues, if you do not want your money to go far and away from you, choose LimeFx for cooperation – everything is safe here.
However, traders should always consider the other factors involved in choosing a broker, such as regulation, customer support, and trading platforms, before making a decision. When it comes to education, updates, news and resources LimeFx disappoints. On their homepage there is hardly any material that can benefit novice or experienced traders. Educational https://limefx.biz/ material about Forex and the markets in general is missing as well as tutorials or eBooks on trading platforms or trading tools for example. LimeFx offers the choice between three unique trading account types that offer different advantages and features. Clients can further select between MT4 and MT5 as their trading platform of choice.
This LimeFx review will provide Nigerian traders with the comprehensive details that they need to consider whether the broker is suited towards their unique trading objectives and needs. To deposit funds, traders can choose between Bitcoin, Bank card, Internet banking, Skrill, Neteller, Perfect money, Tether , Webmoney, Mybux and Ozow. Traders face the risk of great losses that may exceed their initial deposit. LimeFx does not accept liability for any losses or damage and by using the information and/or tools and products provided on the website, traders acknowledge the risks involved.
LimeFx Deposit Methods
There’s absolutely no other hidden fee that you need to be worried about. You only have to pay for spread when trading LimeFx regular accounts. Pro account is the lowest spread account, but you have to deposit at least $2000 to start trading this account. Other accounts spreads are a little bit higher but there isn’t minimum deposit limitation.
There is a section with the news of the specialized video service Trading Central on the website. The broadcasts are not only in English, but also in Russia, Arabic and Chinese. However, a more or less full-fledged business channel broadcasts only in English. Possibility to program trading robots for automatic work.
WHAT CRITERIA SHOULD THE BEST FOREX BROKER HAVE?
Instead of working with 1 – 2 liquidity providers, LimeFx cooperated with 4 liquidity providers, and chose the best quotes among these liquidity providers. That’s why after 2015, you seldom encounter these type of errors. This is also the answer for the question why LimeFx quotes are different from other brokers. The quotes of all brokers are different because they get them from different liquidity providers. And LimeFx’ quotes are good and stable because they optimize the quotes acquiring process. LimeFx review shows that it is highly regulated by different regulatory bodies, making the broker safe and providing a secured trading environment.
However, only currencies, gold and silver can be traded on the LimeFx platform. The broker does currently not offer shares trading or CFDs on commodities, stock market indices, digital assets, ETFs, options, futures, etc. Investors looking for other trading opportunities than just foreign exchange trading will have to use another provider. LimeFx was established by a group of industry experts from the information technology and finance sectors and its head office is in Siafi Street, PORTOBELLO, Office 401, 3042, Limassol, Cyprus. Regulated in the EU, LimeFx provides multiple types of accounts and are Standard Cent, Standard, Pro, Raw Spread, & Zero and also offers Islamic account (Swap-free).
- However, the conditions of those platforms differ from the ones on LimeFx.com platform, which is the subject of our review.
- LimeFx is one of the most popular brokers even though it is not yet regulated by the Capital Markets Authority in Nigeria.
- Pros Zero spread account with fixed commission per trade and near-zero spread.
- Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money.
- As the majority of Forex brokers, LimeFx also offers to use leverage, which may increase potential gains through its possibility to multiple initial accounts balance.
- You just need to put the details of your data in the boxes and then click calculate.
So LimeFx decided to open fake trades on a manipulated spread of over 200 pips on my EA bot managed just to liquidate my account on a morning when people are sleeping. Today till this time XAUUSD price not reached 1843 level . But i saw an order in my account, Sell xauusd closed 1843 , i lost 144 USD. When ever i sent mail to support team i get just ticket numbers. The UK licenses and branch mainly operate b2b business for now tool.
Such instruments would be useful for many traders for comprehensive strategies. Cons Besides the currency pairs, the choice of markets is limited and all of them are represented via CFDs. Besides the currency pairs, the choice of markets is limited and all of them are represented via CFDs. LimeFx offers a wide range of trading instruments, including forex, metals, cryptocurrencies, and CFDs on stocks, indices, and commodities. The minimum deposit requirement for LimeFx varies depending on the account type, ranging from $1 for the Mini account to $200 for the Pro account. No serious broker takes weeks to verify or re-verify any client’s account period!
How do you deposit in LimeFx?
The minimum withdrawal amount is R20 & the Maximum withdrawal amount is R250,000 to your bank account. LimeFx have ZAR account option for traders in South Africa. You can open your account with ZAR as your account currency, but this account currency cannot be changed later.
And of course, always learn how to use leverage correctly, as leverage may increase your potential loses as well and is a different feature in various instruments. Also, we found LimeFx takes an active role in social life, as well as acting as an honored sponsorship partner with various organizations. Alike, LimeFx was proudly sponsoring world’s number one football team, Real Madrid, and the best football player alive, Cristiano Ronaldo. Cryptocurrency is based on a network that is distributed across a large number of computers. The Applicant will now be greeted with the screen pictured below. Here they will be able to select either a Demo or Live Trading Account.
What is the minimum deposit amount required to start trading on the LimeFx Web platform?
LimeFx brokerage is regulated by the Cyprus Securities and Exchange Commission and the Financial Conduct Authority . However, retail clients will no longer get the advantages of the EU and UK regulatory environment. But it will still remain listed at both regulatory authorities. However, these authorities will cover the business-to-business side.
So, these aspects are fee-free, so any trader should be worried about any unexpected expenses. In the last section, “Personal data”, you must enter your passport number, country and city of residence, registration address, and postal code. Only after a complete study of the brokerage platform, one can single out its positive and negative aspects.
Yes, LimeFx is undoubtedly a good FX broker with amazing forex ratings (forex ratings.com). If clients face any technical issue during the process, they can get in touch with the customer service team via live chat, phone or email. Clients can also get in touch through the Contact us section on the website. The popularity came as beginner traders who were fresh to trading and had experienced losses turned to the trading technique, preferring the profit-sharing model. As a result, the adoption of Axi’s copy trading feature, for instance, rose over 300% in the past 24 months and jumping five-fold from the pandemic period. 👉 Expert Advisors be used to automate trading on the LimeFx MT5 platform by analysing market quotations and executing trades on the financial markets.