You should consider whether you understand how derivatives work and whether you can afford to take the high risk of losing your money. Clients can also earn a commission of up to $35 for spreading word of mouth. However, the referral commission is transferred to your account only when your referee opens an account with the broker, deposits some funds and trades a specific amount. Like Trustpilot, the FPA community also seems divided concerning signing up with LimeFx.
- Clients with an account balance of at least $5,000 (or its foreign currency equivalent) are entitled to request for free Virtual Private Server (VPS).
- It is always important for would-be traders that they understand the flip side of trading with a dealing desk broker.
- Most LimeFx accounts don’t charge commissions, so clients don’t have to pay extra fees for each transaction.
- Clients can make deposits using a variety of payment methods, including debit cards, credit cards, electronic wallets (Skrill, Neteller), bank transfers, and other local payment methods.
LimeFx boasts competitive fees with low spreads and no maintenance or deposit/withdrawal charges. The broker’s transparent fees and varied account types offer flexibility to orders. While industry-standard fees include overnight funding and currency conversion, the inactivity fee may concern less active traders.
However, you need to request the broker to convert your conventional trading account to a swap-free account after signing up since swap-free accounts are not available as a standalone product. In conclusion, we addressed the most frequently asked questions (FAQs) to help clients know more about the broker. After reading this review, we believe you can certainly make an informed decision as to whether or not you should sign up with LimeFx. We strongly suggest you complete your homework before proceeding with it. The broker processes all payments within 24 hours, excluding bank transfers.
LimeFx Broker Review
According to this Forex Suggest review, LimeFx offers a comprehensive and reliable broker service to traders of all levels. LimeFx is a solid choice for traders who are just starting out and learning the ropes, or seasoned traders looking for a reliable and efficient platform. In addition to its robust analytical capabilities, the mobile app boasts extensive trading functionality. Users can effortlessly execute trades, swiftly manage positions, and monitor real-time prices, facilitating sound trading decisions regardless of location. MT4 further bolsters its reputation by incorporating advanced technical analysis tools.
LimeFx offers guaranteed negative balance protection across all accounts, ensuring traders don’t owe more than their account balance. This protection includes a 50% margin call https://limefx.biz/ and a 20% stop-out level to manage potential losses. In cases of slippage leading to a negative balance, LimeFx resets the account to $0, preventing debt accumulation.
Deposit Methods
You will need to provide accurate information as these will be verified later using a government-issued ID. There are several account types available and you can choose whichever suits you during the signup process. The LimeFx Market Overview section is dedicated to the latest market news, research and analysis. You can follow the latest market happenings and discover potential trading opportunities based on technical and fundamental analysis across multiple asset classes. The forex webinars are available 19 languages, 7 days a week with 65 webinar instructors.
However, the company’s spreads are subject to change depending on your chosen financial instruments. While investors mostly prefer trading major currency pairs, minor and exotic forex pairs become equally favourite during volatile market conditions. As an EU-regulated brand, the broker complies with the ESMA ban on bonuses, and even deposit bonuses are no longer available to EU traders. LimeFx does offer a free VPS (virtual private server) service to help increase the speed of trades.
Desktop platforms
It monitors the markets 24 hours a day, alerting you to trading opportunities in real time. I like how they have a best execution policy to provide the most favourable trading conditions to traders. Collaboration with a range of liquidity providers mean that they can offer some of the lowest spreads with plenty of liquidity at all times. While many brokers start charging clients account inactivity fees after 6-12 months, LimeFx traders who have not traded for 90 days will be charged a monthly inactivity fee of $5.
Personal Account Manager
I find them to be one of the most reliable brokers for trading and investing online, especially if safety and low costs are important to you. LimeFx Forex Broker offers a variety of deposit and withdrawal options to facilitate seamless transactions for its clients. Traders can fund their accounts using major credit cards, bank wire transfers, and popular e-wallets such as Skrill and Neteller. The broker does not charge any deposit or withdrawal fees, making it cost-effective for traders. Additionally, LimeFx offers same-day withdrawals, ensuring that traders can access their funds quickly and efficiently. LimeFx Forex Broker offers a range of account types to cater to the diverse needs of traders.
One of its differentiating aspects is its user-centric strategy, which provides clients with diverse trading products. While LimeFx provides accessible support through various channels, diversifying communication channels could enhance the overall customer support experience. When holding positions overnight, traders might incur swap rates, also known as overnight fees. These rates can be both positive (credited to your account) or negative (debited from your account) and depend on the interest rate differentials between the currencies being traded. LimeFx may charge an inactivity fee if your trading account remains dormant for a specified period (more than 90 days).
Clients can make deposits using a variety of payment methods, including debit cards, credit cards, electronic wallets (Skrill, Neteller), bank transfers, and other local payment methods. However, you limefx need to verify your account before the broker allows you to add funds to your account or start placing trades. Here is the step-by-step process of opening an account with LimeFx and initiating trades.