If you want to expand your research, and evaluate some options similar to this broker, you can consult the alternatives to LimeFxFX. Having traded since 1998, Justin is the CEO and Co-Founded CompareForexBrokers in 2004. Justin has published over 100 finance articles from Forbes, Kiplinger to Finance Magnates. He has a Masters and Commerce degree and has an active role in the fintech community. LimeFxFX has quite an extensive research and education section on the company’s website. There’s an economic calendar and regular news updates, which could be useful if you must keep up to date with the latest fundamentals.
- Remember that swaps can either be a source of income or an expense, depending on how markets open.
- In fact, the platform and broker have won many awards for this service.
- You will also find this model has the advantage of no requests and very few rejections since market rather than instant execution is being used.
- This means no commission costs in addition to the spread with these spreads starting from 0.8 pips for the EUR/USD currency pair.
Saint Lucia allows companies to self-regulate as long as they comply with the country’s laws. This means clients with LimeFxMarkets don’t have any form of regulatory protection so you can only trust LimeFxFX operations meet the standards you would hope. As this subsidiary is not regulated, LimeFxMarkets can be called an offshore broker. Regarding account currency, if you join the LimeFxFX European subsidiary, you will use Euros.
Here, if you have a USD base currency account, you can opt for fixed spreads that start at 2 pips on certain forex pairs. LimeFxFX offers two types of trading accounts with both being the same except one is with the MetaTrader 4 (MT4) trading platform and the other is with the MetaTrader 5 trading platform (MT5). For both account types offered https://limefx.vip/ by LimeFxFX, spreads are floating and start from a minimum of 0.8 pips and have an average of 0.9 pips for the EUR/USD currency pair. This means the trading spreads will get either tighter or wider, depending on market volatility, time of day, and other factors. LimeFxFX provides demo accounts that are accessible with both MT4 and MT5.
But, even for simple questions, we didn’t find the customer service options impressive. The big changes in MT5 are increased charting options, such as timeframes and lesser-known technical indicators. LimeFxFX also offers the chance to trade energy products like Texas Crude, Brent Crude, and Natural Gas.
Customer Service
Research tools provided by LimeFxFX include a well-detailed economic calendar which keeps you updated with all significant economic events and how they may impact you. Both social and copy trading is well provided for at LimeFxFX through their own proprietary copy trading service. The only real difference here being that as a master you can earn commission. MetaTrader is further renowned as one of the most comprehensive platforms in this area.
Other features include MT4 and MT5 trading platforms and commission-free spreads from 0.8 pips. There are 35 currency pairs to trade for most traders across the globe, but only 28 pairs are available if you live in the European Union. While 35 pairs mean LimeFxFX offers all the popular pairs to trade with, less popular pairs can be more volatile which means more opportunity to profit from this volatility. Within Europe, the minimum deposit on the available account types of MT5 Pro is $50. The account base currency is that which you trade in with the broker. These are, EUR within the EU, and both EUR, and USD for traders outside the EU.
This is rather a limited selection compared with other top brokers. One of the best choices for your first steps as a forex trader with LimeFxFX is an MT4 Micro Account. On the upside for LimeFxFX, they are extremely accessible to all traders. This is due to the low minimum deposit the offer alongside very competitive spreads. The broker uses a no-dealing desk trading model, which means they send your trades directly to the liquidity providers, who will be the counterparts of your order.
Комиссионные по CFD
Due to that, we highly recommend LimeFxFX as a great place to copy trade but caution you to remember that due to a limited number of assets, your portfolios can be less diversified. This can result in comparatively bigger movements than a well-diversified holding so is something to keep in mind. As with any broker or service, no matter how excellent they are, and popular they become, there will always be a few areas to improve on. Their live chat team is mostly based in St Lucia or Cyprus and is 24/7.
How are Execution, leverage and position sizing with LimeFxFX?
LimeFxFX provides well in terms of language choice to traders, though there is a clear focus on the Asian market when it comes to available languages. The platform can be accessed through Windows, Mac, iOS, or Android, and is an excellent and very well-respected trading platform among the community. Ultimately this means you will have access to an extensive range of tools and indicators depending on your platform choice. There are a total of 51 charting indicators provided, and 31 drawing tools also. In some places, you will also be allowed to make deposits through Bitcoin.
With LimeFxFX another of the measures in place to keep you safe as a trader is negative balance protection. This means that you can never lose more money than the balance of your account. This service is offered worldwide, limefx website regardless of whether it is required by the regulators or not. The variable spreads start from 0.2 – 0.4 pips with a commission already rolled in and no other mark-up to worry about on your MT4 Micro, or MT5 Pro Account.
With LimeFxFX every asset except for crypto is available for trading on a 24/5 basis, Monday – Friday. This applies to all markets including forex, commodities, and cryptos. When it comes to spreads and commissions, LimeFxFX works both with floating and fixed spreads. The floating spreads can start from 0 pips depending on your account type. The LimeFxFX MT5 pro account is one which they recommend for the more experienced traders.
There is one very interesting feature with both these accounts and it’s not something we have exactly seen before. LimeFxFX has no swaps – yes you read that right, none, zip, zero, zilch. This means you can hold your position overnight (after New York markets close) for as long as you wish without needing to concern yourself with any rolling feels. The LimeFxFX Champion offer is a contest run by the broker whereby you can open a demo account and trade for 4 weeks. In addition to the markets offered, as an LimeFxFX trader, it is likely that you may come across some of these extra products that the broker makes available depending on your location.
We can tell you that LimeFxFX has segregated accounts, which is the minimum you would expect to see from a broker as you don’t want them to be able to access your funds. They also claim to have highly skilled security engineers and technical specialists to ensure your data is safe. The broker is regulated by Cyprus’ CySEC (Cyprus Securities and Exchange Commission), which means it can offer trading services to all clients in the EU. CySEC must comply with the same requirement set by ESMA (the financial body for the EU) that all financial regulators within the EU borders must follow. The standards set by ESMA are quite high, not dissimilar to those set by the FCA in the UK and ASIC in Australia.
Copy trading is a cool concept, but we urge you to be very cautious about who you copy and do your due diligence into the skills and trading strategy of anyone you want to follow. Each platform runs on Windows, iOS, and Android, so no matter which device you trade from, you’re free to use the platform you like the best. LimeFxFX is also registered as a company in Saint Lucia, and its trading name is LimeFxMarkets. We asked LimeFxFX who their liquidity providers are and while we don’t have a complete list they advised LMAX Global, Swissquote, Saxobank, and Euronext FX are some of them.