Daily and weekly forecasts in the Market Insights section preview the key economic data ahead and highlight the major market movers. The reports cover significant support and resistance levels and technical signals from indicators such as MACD and Parabolic SAR. The research section also includes specific trading ideas, target prices, and key price levels to watch. Client orders received by Lime Fx are offset by banks and liquidity providers. NDD (No Dealing Desk) brokers such as Lime Fx act as intermediaries between the trader and the real market and receive a defined and transparent commission for it. Over a week-long testing period, I probed customer support with dozens of inquiries, ranging from available tools to fees and questions relating to the security of client accounts.
$10 No Deposit Bonus – Open a Live STP account, $10 Bonus is automatically added to your account – FXOpen
I think having Lime Fx Copy is a good alternative for beginners or those who don’t want to invest their time in learning how to trade. At least this way, you can copy an experienced trader and benefit from leveraged products such as forex, crypto or commodities like gold. One of the key highlights for MetaTrader 4 I like is the option to automate your trades using Expert Advisors (EAs) which is allowed on your Lime Fx account. You can develop EAs to 100% automate your strategy from analysis to execution, or set up risk management EAs to manage your risk on open positions automatically. I was curious to know why they offer this as other brokers are not so generous when it comes to absorbing the swap costs. Lime Fx said that offering swap-free accounts aligns with its business goal of serving a global clientele.
The figures below reflect the available leverage at the offshore entity of Lime Fx. Available leverage differs according to the asset class, with the most leverage available with CFDs on forex and the least with CFDs on shares. In our tests for the Trust category, we also cover factors relating to stability and financial strength. Here, we focus on how long the broker has been in business, what is the company size, and how transparent the broker overall.
The spreads on the MT5 account were stable in my tests during the New York and Asian trading sessions. While monitoring the spreads the broker’s EUR/USD spread fluctuated between 0.80 and 0.90, which is slightly more than the minimum advertised. Despite this lack of regulatory oversight, Lime Fx still does not offer trading services to U.S clients.
Deposits and Withdrawals
Leverage is the use of borrowed funds to increase the size of your trading positions beyond what would be possible using only the cash in your account. The MetaTrader 5 mobile app also provides many order types, including pending and stop orders. However, trailing stop-loss orders are only available from the desktop. To change the language of the MT5 app, you must change the language for your entire phone.
- In some places, you will also be allowed to make deposits through Bitcoin.
- STP (Straight-through processing) is basically done through electronic transfers.
- A review of the broker’s trading instruments reveals that users are allowed to trade over 120 stocks.
- Slippage can eat into your profits, especially during volatile market conditions.
Lime Fx has a strong selection of CFDs on cryptocurrencies, numbering 30 in total. Lime Fx offers the popular MetaTrader 4 and MetaTrader 5 platforms across desktop, web, and mobile. These platforms provide robust charting and a wide range of order types and enable automated trading. The web-based Lime FxTrader platform is a beginner-friendly and convenient alternative. In addition, when trading with a broker authorized by CySEC, client funds are protected by the Investor Compensation Fund (ICF).
- CySEC requires that clients have negative balance protection, which means they cannot lose more than their deposit.
- Lime Fx is an up-and-coming broker that has been in operation for nearly 10 years.
- You can experience an “over the shoulder” session with a trader which is helpful to get professional feedback on current market events.
- The demo account lets you test the platforms while practising trading in a risk-free trading environment using virtual currency.
Whether you’re a novice stepping into https://limefx.biz/ trading or a seasoned professional, Lime Fx delivers the tools and features necessary for success in the dynamic world of financial markets. This broker has many qualities suited to beginners but can also cater to experienced traders with the advanced features of MetaTrader. The global entity is unregulated, and this means clients benefit from fewer account protections. However, Lime Fx states that it provides clients with segregated accounts and negative balance protection. A welcome addition would be third-party account insurance (such as a policy from Lloyds of London), as seen at some other popular offshore brokers.
How to withdraw Funds from Lime Fx
Electronic access and communication is also protected by a ‘SSL-secured Personal Area’, which has 128-bit encryption, and makes your browsing safe and your data inaccessible to any third parties. Platform choice ultimately comes down to personal preference, but Lime Fx has signalled its intent by offering its clients the choice of two market-leading platforms. Lime Fx provides a fast service for its withdrawals by sending your funds within 30 minutes after being approved. Approval of the funds can take from 1-3 hours depending on when you make a request. There are 12 extensive educational articles covering the forex basics but what stood out for me was the free forex trading course. In this course, I had access to 11 video lessons that lasted roughly 5-10 minutes but went into detail about how to trade forex.
However, I would like to see other Tier-1 regulators like the Australian Securities and Investments Commission (ASIC) or the Monetary Authority of Singapore (MAS). These are two offshore regulators that allow Lime Fx to provide secure financial services in 180 countries. Amongst the new features and platform improvements, you can still automate your trades with MetaTrader 5 and Expert Advisors. If you are interested in automating share CFDs, MT5 is the only platform on Lime Fx to provide this. The platform also has 38+ indicators featuring Ichimoku and RSI, while increasing the number of timeframes to 21 for better customisation. Additionally, you have excellent drawing tools for price action analysis like Fibonacci or Gann tools which I couldn’t find on the Lime FxTrader platform.
This is an observation rather than a criticism as it just demonstrates the way the site allows aggressive trading strategies to be carried out. Lime Fx is a global broker, who offers a new take on certain aspects of the retail brokerage space. Founded in 2011, its products are available through Lime Fx.com and Lime Fx.eu. We are constantly improving our product to make your trading experience better. Having traded since 1998, Justin is the CEO and Co-Founded CompareForexBrokers in 2004.
Spreads
Credit and debit card transactions are subject to 3D secure Visa authorisation and there are processes in place to protect clients making withdrawals. It is clear that the Education section of Lime Fx’s website is of great importance to the broker. All of the materials are of high quality and cater to beginners, intermediate and advanced traders.
Other trading platforms
Furthermore, the spreads starts from 0.6 pips on different accounts; However, it depends on the instrument or the trading pair. One thing that stood out to me limefx scam about this broker during my review was the ease of use. The Lime FxTrader platform is intuitive, well designed, and has popular features like alerts and 1-click trading.
Matching your base currency to that of your deposits and withdrawals can be an important way to help you save on paying conversion fees which ultimately increase your cost of trading. These are, EUR within the EU, and both EUR, and USD for traders outside the EU. By offering a range of payment methods with swift processing times and zero fees, Lime Fx ensures that managing your trading funds is both efficient and economical. Lime Fx offers a variety of deposit and withdrawal methods to accommodate traders worldwide, ensuring transactions are convenient, fast, and cost-effective. Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange.
