There are no internal deposit or withdrawal fees, except for a $20 bank wire charge, which applies everywhere. I want to point out that traders will pay third-party payment processor costs, which LimeFX does not control. Traders will make all financial transactions from the secure back office, and I find the available payment methods offer all types of traders a decent option. I like the commission-based LimeFX Razor account because then I qualify for the Active Trader Program, allowing me to achieve superior trading costs. Traders who trade only major currency pairs can also lower costs in the competitively priced commission-free Standard account.

Along with a “market calendar,” there are sections for “market analysis” and “market news,” which provide useful information and actionable analysis that add value to one’s trading. Daily pre-market “forex reports” are emailed to the client prior to the start of each trading session. Along with email support, the broker offers 24/5 chat/phone support as well as social media portals and an online contact form.

Traders in the UK can open a trading account and deposit/withdraw via bank transfer, PayPal, and credit/debit card. LimeFX also has an office in London and offers a Great Britain Pound base currency account. The forex broker also have a UK toll-free number for customer support. The MetaTrader trading platform suite is the core component driving the success of LimeFX.

LimeFX Forex Review

The credibility of LimeFX in providing highly-accurate support to its traders can be checked by weighing the broker’s benefits against its shortcomings. LimeFX earns the bulk of revenues from spreads, commissions, and swap rates on leveraged overnight positions. As I had my first need for support, the online live chat with an agent was prompt and helpful. Please reach out to us by emailing to We will do our best to help you with this matter. I have been using the LimeFX demo environment for the last three months and I am so happy to have been given the opportunity, with no stress to go live.

After getting little income they will ask you to trade without telling you the agreement. They will ask you to pay additional funds before you get your money back. We’re also fully licensed and regulated in multiple jurisdictions. Access a range of mobile-friendly marketing tools, designed to convert. Our partner programs offer a range of benefits for professional fund managers, introducing brokers and affiliates.

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They not only help place trader orders but also monitor them to notify traders of their market positions. It can easily run Google Chrome, Safari, Mozilla Firefox, or Edge/Internet Explorer browsers. The trading platform can be used on the web browser mobile apps as well. It increases the mobility of traders in monitoring and executing their trades remotely. Only a small percentage of them can stay profitable consistently and become successful traders. In the majority of cases, these success stories are driven by the partnership of online trading brokers.

They do not enforce a minimum deposit and offer negative balance protection. This means you cannot lose more than your trading capital. For LimeFX, it varies based on the type of financial instrument being traded. To get access to the margin requirements, the platforms run a margin calculator service in its secure client area section for tools. The client area section also holds other trading tools that can process the trading costs with this broker. For LimeFX users, the average spread cost for a MetaTrader 5-enabled Razor account is completed at €100,000 trade, with the base currency being Euro.

I had Standard Account for one year and switched it to ECN account. Apart from these regulations, LimeFXi is also mandated to compensate retail traders for up to £85,000 if they go into liquidation. This is according to the FCA’s directive to all the firms they regulate under the Financial Services Compensation Scheme . It does not allow clients to contact them in case of a trading emergency. Instead, local clients can walk into the LimeFX office in Melbourne, Australia.

Traders Reviews

Speaking of commodities, we really liked that you can have positions in gold against multiple currencies . The platform’s search functions are average.You can find assets grouped into categories, but we missed the usual search box where you can type asset names or other keywords manually. However, you can set up a https://limefx.name/ two-step login for accessing the client area on the website . However, the platformfeels outdatedand some features are hard to find. For example, it took us a while to figure out how to add an asset to our watchlist. A bank transfer can take several business days, while payment with a credit/debit card is instant.

• Before the crisis, LimeFX warned against possible dangers, discouraging clients from taking excessively leveraged positions on the franc.
• While this incident is concerning, we note that security measures were in place and the company detected the intrusion and has also duly informed their customers.
• I recommend the latter for emergencies, which I am confident will remain minimal.
• Please note that by investing in and/or trading financial instruments, commodities and any other assets, you are taking a high degree of risk and you can lose all your deposited money.
• LimeFX is also one of the award-winning forex brokers Australia, recognized by brands such as Deloitte, LimeFX Trends, and Investopedia.

It covers important concepts like pip value, technical analysis, trading terms, etc. LimeFX is licensed with the Financial Conduct Authority as LimeFX limefx scammers Limited. The FCA is one of the top-tier regulators of financial services providers. We consider LimeFX a low-risk broker because of this.

You cannot purchase shares of stocks or funds directly through LimeFX — only CFDs are available. For example, the broker advertises that the average spread for EUR/USD on Razor is 0.13 pips and a commission will be added on to that. The average spread for the Standard account is 1.13 pips, all in.

LimeFX Education

This review finds LimeFX a viable option for traders. It delivers a complete trading experience, which is much more competitive than other best forex brokersin the online forex trading community. The company stands superior with its lightning-fast execution systems. Investopedia is dedicated to providing investors with unbiased, comprehensive reviews and ratings of online brokers. We established a rating scale based on our criteria, collecting over 3,000 data points that we weighed into our star scoring system.

In this review, we tested the Razor account on MetaTrader 4, which charges a commission but spreads are low. MetaTrader 4, our most popular; MetaTrader 5, our most powerful; and cTrader, our most user-friendly. All of our platforms are available to run via WebTrader and mobile apps for seamless syncing across all of your devices. Yes, LimeFX proves a great option for beginners as well.

Trading Instruments at LimeFX

Its educational content is adequate to transform a new trader into a professional. In 2020, LimeFX started offering a no-swap Islamic account, which incurs administration fees charged after a holding period of two days. One loophole in LimeFX’s safety is the lack of two-factor authentication in its endpoint security. The device management protocols of LimeFX also lack biometric authentication for its mobile trading services. The funds are held in segregated accounts and protected from misuse.

The company offers a licensed use of MetaTrader 4, MetaTrader 5, and TradingView. These smart trader tools have extensive technical functionalities, and they also sync well with other platforms and third-party plugins. The MetaTrader suite of apps is best used to assist trade execution, conduct market research, and develop an in-depth market analysis.