Forex Trading

LimeFx Review Is it a Scam or Legit Broker 2023

There is exhaustive information about the restrictions on the website of the Cyprus regulator, as the source. At the time when this review was being prepared, citizens of 30 European countries could open an account with the broker. FX and МТ5 Investments are essentially a copy trading service, or investment in the so-called PAMM accounts. In the table below, we compared the broker’s instruments with the competitors, although some positions cannot be properly compared, as the brokers provide data in different formats. Also, we decided to analyze how beneficial it will be to hold marginal positions on different markets. As a reminder, a marginal position means that you purchase securities not only with your own money, but also borrow from the broker.

It gives them the opportunity to try out trading without taking on any
financial risk. We would highly recommend starting out with a demo account to
become familiar with the trading conditions at the broker. Also makes it possible for its clients to invest and trade more than 3,000 mutual funds listed on its platforms. Like stocks, these too can be traded on both their proprietary and third-party trading securities trading platforms. Our review is nonetheless alive to the fact that its platform doesn’t have an integrated mutual funds screener.

Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

You can decide for yourself if
LimeFx is a good broker for you or not by reviewing the criteria. In general,
LimeFx provides trading service in
Forex , CFD , Stocks , Bonds and Crypto . As for the payment methods, you can choose between
CashU, Credit/debit cards, Neteller, paysafecard, Skrill and UnionPay.

  • Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here.
  • Using free market research of LimeFx’s experienced analyst team, clients get the opportunity to create their own investment strategies.
  • To start trading with LimeFx, you will have a choice to choose from GBP, EUR, USD, and more currencies, and select 20+ funding methods including Bank Wire, Credit/Debit cards, Skrill, Neteller, etc.
  • A small number of educational materials can be found in the Blog section on the broker’s website.
  • In addition, price chart is also usually provided with some analytical tools
    to help you analyze the price movement, so you can increase your profitabiliy by placing well-planned

Our review indicates that the brokerage and its trading platforms feature a host of market analysis tools to trade. LimeFx is a globally renowned online securities trader that best describes itself as a deep discount brokerage house. The brokerage was launched in 2006 in Washington DC by Success Trade Securities. LimeFx currently employs over 1200 employees and maintains offices in over eight countries including the United States, China, and the United Kingdom.

Instruments Traded

Comparatively, we can say that the commission charged by LimeFx is relatively low compared to other brokers. In this LimeFx review, we aim to provide all the relevant information regarding this brokerage firm so that it is easier for any trader or investor to choose this broker for their trading needs. Moreover, the broker also gives opportunities to traders to earn profits through STP and ECN accounts as well. Thus, overall we can say that LimeFx is a good option for any trader or investor who is looking for a reputable brokerage platform. LimeFx offers all the usual deposit and
withdrawal methods you’d expect, such as wire transfers, credit cards, PayPal,
and online web wallets like Skrill and Neteller. With the exception of wire
transfers, funding is immediate for other funding methods.

  • Moreover, traders have the opportunity to reach financial exchanges worldwide with a minimum deposit of $ 200.
  • During my review, the average spread for the EUR/USD ranged between 1.0 and 1.3 pips.
  • Asktraders is a free website that is supported by our advertising partners.
  • As a CySEC-regulated broker, the verification process includes a questionnaire that collects data per regulatory requirements enforced by the ESMA.
  • Demo trading does not grant exposure to the full range of trading psychology and can create unrealistic expectations.

LimeFx offers a free demo account with 50,000 virtual USD for risk-free trial trading, which is excellent. It is very common for traders to open a Demo account before depositing money into a real account. It is also important to know that the Demo account retains the same live prices and market conditions, simulating the exposure in a real account. LimeFxr, the deep discount broker, has throughout the years been awarded and recognized for its contributions to the online brokerage industry. LimeFx also makes it possible for its clients to invest and trade more than 3,000 mutual funds listed on its platforms. Our review is nonetheless alive to the fact that the LimeFx platform doesn’t have an integrated mutual funds screener.

How LimeFx Fees Compare to other Brokers

Our LimeFx broker review indicates that traders on the platform can trade up to 90,000 futures and futures options instruments. These are drawn from virtually every market within the finance and securities industry including stocks, indices, currencies, and commodities. Unlike most other trading products listed here, futures and futures options trading are lightly covered in the broker’s educational resources and research reports. I like that LimeFx offers eight trading platforms, which ensures traders and investors get one suitable for their preferred strategy. The choice of trading services is also excellent, offering clients four competitive methods for portfolio management. Overall, LimeFx is a reliable broker with competitive trading options to choose from.

In particular, the customer can withdraw funds only to the same card that was used to fund the account. Compared to other brokers, LimeFx is significantly behind in terms of available base currencies. During the second step, which is titled Economic Profile, you need to specify information about your employment, level of income, trading experience in the financial markets. You will be provided with a login to the demo account, which is a simplified version of the real personal account. The low minimum deposit is the broker’s advantage over such competitors as Swissquote. Individual portfolios is an offer to invest in one of five portfolios created by LimeFx.

Analytics and market news

On the Forex and CFD Standard accounts, the broker uses a small spread on top of the market spread as a commission. Avatrade has been offering its brokerage services in the market since 2006. Regulated by the different financial commissions in more than 6 countries, Avatrade has become a reliable name for traders and investors worldwide. With a wide range of instruments at the customer’s disposal, Avatrade provides numerous features on its platform. The financial market is filled with tons of online brokerage companies that provide standard trading services to their customers. However, it is time-consuming and exhausting to find one reliable, licensed, and legitimate brokerage firm for trading investments.

I think they could improve further by adding support for some more currencies and crypto deposit like Coinexx. LimeFx offer professional customer support 24/7 via online chat, telephone and email. It was great to see that support is available on weekends as this is not something that all brokers offer and helps them to stand out from the competition. ROX is a sophisticated electronic order management system with instant routing to exchanges, ECNs, market makers and MTFs world-wide.

By entering the name, last name, email, and phone number of the account holder, the user can select the box which confirms that the customer is agreeing to the terms and conditions of the brokerage firm. The first step is to open the official website of the broker and on the very first page either click the tab “apply” for live trading and “demo” for opening a demo account. Selecting any one of the pages with be directed to another page which will require the user to fill out a registration form. When we talk about LimeFx as an online broker there are many benefits of this firm for both day traders as well as experienced investors. The first and foremost concern of any investor is to affiliate with a broker that is genuine and legit.

Top Brokers

First is that Roboforex has a high commission rate of $ 20 whereas LimeFx works on a very low commission of $ 3, this makes the latter more cost-effective than the former broker. However, the minimum deposit requirement of Roboforex is quite less which is $ 10 whereas for LimeFx it is $100 making it an affordable broker. The users can contact customer support service in many ways, limefx official site however, physical interactions are not catered to by this firm. The clients can use phone, email, or website dropbox to get in touch with the customer support staff of the broker. The fees and commission policies are not clearly defined on the website. However, it is mentioned in the trading commissions section that all trading transactions will have a 2.5% commission rate per trade.

It also has an area, available under subscription (customers only), with a Forex Daily, Forex Weekly, World Markets Weekly, and Trading Ideas (Market Research). LimeFx requires a minimum initial deposit of USD 100USD on your standard account. There are no minimum deposit or withdrawal limits for bank wire transfers. Deposits are processed within one business day while withdrawals can take up to 3 days. LimeFx does not levy internal deposit fees; accepted currencies are USD, EUR, RUB, COP, and MXN.

Desktop and Web Trading Platforms

Moreover, is known for its regulation under many commissions and its membership in the Financial commission. Along with this, Roboforex is also good for having a lot of options for trading instruments and high leverage for traders and investors. In another attempt to understand the services and standards of LimeFx as a brokerage service, it is important to do a comparative analysis of LimeFx with other trading platforms. This procedure will help readers to have a better insight into the pros and cons of LimeFx as a brokerage company in the financial markets. Along with this the customers also valued the broker for providing multiple options of assets for trading including not just forex or stock markets but mutual funds and options trading as well. With these praises, there were also some flaws that were highlighted by the customers including slow and delayed withdrawal of funds and high minimum deposit payment.

It has numerous options and functionalities and offers multiple technical analyses, graphics tools, as well as the possibility of algorithmic trading and automation of the operation. Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs. You should consider whether you can afford to take the risk of losing your money.

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