The platform also has an intuitive strategy tester, allowing experienced algo traders to tweak the parameters of their strategies so that they can limefx be used under different market conditions. The charts, orders, and various instruments are located in easy-to-find places, and even first-time traders can quickly learn their way around. My only gripe with the platform is that its charts feel rugged and outdated compared to newer and sleeker trading stations. Its website provides easy access to key information, including a clear breakdown of trading fees.
The deposit is low, the MetaTrader 4 platform is one of the best for forex trading, and the tight spreads through the ECN model are competitive. This will be enough to satisfy most traders and provide opportunities to deploy a range of forex trading strategies. I am happy with the selection of fee-free funding methods accepted by Lime Fx, which supports Visa/Mastercard, bank wire transfers, cryptocurrency and four e-wallets – Skrill, Neteller, EeziePay and AWEpay. This makes it easy for global traders to get started with the forex broker. The very first thing I noticed when I started trading with the ECN XL account was the instant execution.
Broker Bonuses
- Lime Fx offers a demo account that lets traders explore the broker’s available platforms and test their strategies in a risk-free environment.
- Lime Fx’s Price Aggregator automatically scans the market for the best bid/offer price combinations, thereby ensuring you get the most competitive and transparent executions for your trades.
- Plus the spreads are tight.My overall trading experience and profits improve by far just by changing the broker I trade with.
- A demo account works like a real account with limited functionalities.
- Lime Fx is an excellent low-cost choice for beginners due to its decent range of educational resources and free demo account – a great way to build up experience before trading with real capital.
- This works extremely well with MT4’s expert advisors for automated trading, and I frequently make use of it when trading on Lime Fx.
I am satisfied with Lime Fx’s forex research offering, which includes a blog with regular articles and posts highlighting promising opportunities as well as general tips on trading. An economic calendar is also available to keep track of upcoming noteworthy events like the publishing of reports on country inflation rates, imports and exports. The speed of transfers varies according to the payment method used. Bank wire transfers are on the slow end, taking between five and seven business days for both deposit and withdrawal requests, while crypto transactions are usually fast, taking 15 minutes or so. To avoid these charges, I recommend using Visa or Mastercard bank cards, as scammed by limefx I found these do not incur a fee. Islamic traders will also be pleased that a swap-free account is available upon request.
How to Open an Account with Lime Fx?
For instance, anyone registering from a CySEC regulated region is not able to accept a bonus. Lime Fx is authorized and regulated by the Cyprus Securities and Exchange Commission (CySec) and operates under the EU Markets in Financial Instruments Directive (MiFID). Lime Fx is on the FCA Register (Reference Number ) and EEA Authorized. A great amount of through was applied into the forex education center in order to ensure it has a point of difference and enhance our clients knowledge.
You should make sure that the broker offers cheap fees, an excellent user interface, and above all, a demo account. Among the many investment instruments, Forex trading is an attractive way to increase your capital conveniently. Our ECN XL account has all the features and benefits you would expect and demand from an ECN/STP broker who has always been right at the cutting edge of industry development.
Licensed under CySEC, MiFID, and MISA, Lime Fx provides competitive spreads starting from 0 with no trading commissions under its ECN XL account, making it an appealing choice for traders seeking low-cost options. Forex trading does not occur in exchanges like commodities and stocks, rather it is an over-the-counter market where two parties trade directly through a broker. The four primary forex trading centers are New York, London, Sydney and Tokyo. There are three types of forex markets that include spot forex market, futures forex market and forward forex market. Lime Fx provides trading in over 70 major, minor and exotic currency pairs, with especially tight forex dealing spreads.
Hosted servers and core network components are monitored 24/7 for issues and are proactively managed 24/7 in conjunction with technical support teams. Known as the grantor of the trade or the seller of a currency position. It is the rate used to calculate the lending rates by banks in the US. Old lady of Threadneedle Street, a term for the central bank of England. A demo account works like a real account with limited functionalities. Short a currency pair means that you expect the price of currency pair will fall.
It is the price the client will be quoted when wanting to sell (go short) a position. Lime Fx provides assistance to trading clients via its 24 hour Monday through Friday multilingual customer support service that features dedicated account managers. The broker also has a live chat service and an online form you can fill out, as well as a support email address, fax and phone number.
- The broker provides live chat and email support, ensuring that help is readily available.
- I am happy with the selection of fee-free funding methods accepted by Lime Fx, which supports Visa/Mastercard, bank wire transfers, cryptocurrency and four e-wallets – Skrill, Neteller, EeziePay and AWEpay.
- This is especially true if you plan on trading physical cryptocurrencies or any of the commodities traded through CFDs.
- Lime Fx charges a monthly inactivity fee of 5 units in your account’s base currency (EUR, USD, or GBP) after 120 days of no activity, and it continues until you resume trading or the balance hits zero.
- This will be enough to satisfy most traders and provide opportunities to deploy a range of forex trading strategies.
Lime Fx User Experience
When we test a broker’s customer support, we evaluate the agent’s knowledge of their own website, how long it takes them to respond to questions, and how detailed their answers are. You can jump in or out of the market quickly to take advantage of even the most minor price changes. On the flip side, there are no share CFDs, copy trading isn’t supported, and the research content is a bit limited. Our team is happy to see that Lime Fx does not impose any trading restrictions, meaning strategies such as hedging and scalping are viable. Our team rates Lime Fx’s execution model, which combines straight-through processing (STP) and electronic communication network (ECN) to ensure fast and high-quality execution with low pricing.
