But so far throughout their 12+ years in business, Lime Fx has maintained an impeccable reputation. Turns out the CySEC is the independent regulatory body responsible for financial oversight in Cyprus. They make sure companies like Lime Fx adhere to strict rules and treat customers fairly. There’s always a friendly agent ready to answer my questions, no matter what time of day it is! The chat box pops up instantly on their website – no waiting or hunting around to get help. Islamic accounts ensure that trading activities comply with Islamic finance principles without sacrificing trading capabilities.
Deposit Options and Fees
The top 5 users with the highest balance by the end of the contest round can win prizes ranging from $500 to $40. To participate, log in or sign up, open a new Champion contest account, download the MT4 platform or use the browser version, trade starting from 8 May, and aim for the highest balance to win a prize. Over the years, Lime Fx has seen significant growth and development compared to its earlier offerings.
The app is more feature-rich than the web version of Lime Fx Trader. The economic calendar, pip calculator, and other tools are integrated within the app, while the web version contains links directing users to external pages. The “Space” section allows users to see posts on various topics directly on the web, but the configuration for the topics is set in the mobile app. Lime Fx offers negative balance protection, which means that if a market slippage results in a negative balance, Lime Fx will adjust the balance to zero. This feature ensures that traders cannot lose more than their initial investment.
Lime Fx: Platforms & Tools 🖥
Lime Fx’s minimum deposit requirement of just $25 makes it accessible for new traders, it is a perfect broker for beginners. To properly increase their trading skills, the platform provides thorough instructional tools, including webinars, beginning and advanced trading videos, and trading glossary. Lime Fx also offers a demo account tool so that beginners may test trading with virtual money, therefore reducing risk.
Out of the options available, I think MT5 is the best option with Lime Fx as it has the most technical features while also offering all of the broker’s financial products. The big takeaway from my time with Lime Fx is that it doesn’t charge swap fees on any of its accounts which are usually reserved for swap-free Islamic trading accounts. Not only does this reduce your trading costs for longer-term positions but it won’t force you to close a position before being charged a swap.
Other Products and Services at Lime Fx
Numerous traders have praised Lime Fx’s commitment to providing an efficient trading environment. The virtual private server (VPS) is meticulously configured to support MetaTrader 4 (MT4), one of the most reputable trading platforms in the forex community. The Lime Fx ecosystem includes the specialized CopyTrade app and mobile versions of MT4 and MT5. This app goes beyond traditional social trading by utilizing an AI-based recommendation system that matches traders with Masters based on their trading style and risk profile. Aside from the expected advanced order types, MT5 includes a built-in economic calendar within the trading interface. This feature is often overlooked but is extremely valuable for Emirati traders who want to incorporate fundamental analysis into their strategies.
The broker manages different accounts, which keeps client money apart from operational resources, hence improving security. An experienced media professional, John has a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content. Lime Fx offers the full MetaTrader suite, albeit with a fairly limited offering of tradeable instruments. There’s no question – if Lime Fx wants to compete with the best MetaTrader brokers, it needs to make improvements in its range of products and its research and education. Features like its trading glossary, platform tutorials, and dozens of Frequently Asked Questions (FAQs) help to flesh out Lime Fx’s educational offering.
The threshold to access the bonus is high and requires a substantial trading volume. The Lime Fx dashboard clearly displays the progress of these lots and the application of the bonus in a detailed manner. Accessing the bonus is a straightforward process and can also be configured automatically. Copy trading is also available, allowing clients to automatically replicate the trades of other selected traders.
“Intraday trading experience”
- Through this Lime Fx review 2024 we’ll have a look at major points to be covered about the broker, Is Lime Fx a scam or legit?
- Finding a trustworthy forex broker can feel like navigating a minefield.
- Due to this traders will no longer hesitate to use mid-term and long-term stategies.
- These were some of my first questions when I started researching Lime Fx too.
Lime Fx offers a free demo account to new forex beginners to practice trading in forex with no limits. Overall, Lime Fx provides a solid trading experience, and with its low minimum deposit requirements and extensive account types, it caters to a diverse group of traders. All of the platforms on offer are well regarded in the trading community.
Lime Fx charges different prices depending on which of its offices oversees limefx company reviews your account. For instance, its EU office offers slightly better prices for trading EUR/USD, with an average spread of 0.5 pips, compared to 0.9 pips for other offices. It’s important to know that Lime Fx doesn’t mention the time period for its typical prices listed on its website. So, these values aren’t as reliable as prices with a specific date. Overall, Lime Fx has improved its prices and seems to be competitive with the cheapest MetaTrader brokers.
Popular Forex Broker Reviews
All of the same withdrawal methods are also available as your deposit method. That means you can access wire transfer, credit/debit cards, and some eWallets like Skrill. These typically take 1 day to process or less, though a wire transfer may take longer. The only exceptions here may be in the case of your deposit not matching the base currency on your account, you would then have to pay a conversion fee. Your bank may also charge you a commission or fee on wire transfers, though there is no fee directly from the broker. Lime Fx offers a great demo account that is easy to sign up for, just needing the most basic of your personal information and an email address.
- Lime Fx has integrated platforms such as MetaTrader, which provides a no-frills, low-cost trading experience, focusing on transparency and favorable trading conditions.
- All the background materials are of high quality, and the videos are supported on YouTube.
- Lime Fx provides twenty-eight currency pairs, 3 cryptocurrency CFDs, and CFDs on 4 metals, 2 energies, ten of the most popular indices, adding to 47 instruments in total.
- Established in 2011 and located in London, Lime Fx is a forex broker that renders its services to users worldwide.
- As Lime Fx is a large broker, it fittingly offers a good range of funding options on both the fiat money side and the crypto side.
Additionally, the Lime Fx platform features a one-click trading button that cannot be removed, which poses a risk since clicking it executes trades without confirmation. Alerts and each executed order are notified through browser notifications. Additionally, the app allows users to view the history of each operation, including changes made to orders, with great clarity.
I found the signals to clearly demonstrate the trading idea and the market commentary is a nice touch to help explain the move. During our own testing, we found the https://limefx.biz/ average ‘first response’ time to be greater than the seven seconds claimed on the firm’s site. In fact, in only a handful of instances did the response time beat the seven second figure.
Deposit And Withdrawal
This is rather a limited selection compared with other top brokers. It is the perfect opportunity to trade in a no-risk environment with virtual funds, but which also perfectly replicates live trading. It is the ideal way to get to know more about a broker or the industry. Furthermore, your funds will always be held in segregated accounts with top-tier banks when you trade with Lime Fx.
It allows traders to earn consistent profits by replicating the most profitable strategies available. Lime Fx provides a solid copy trading service that promotes a social trading environment. Emirati traders can avail themselves of the “50% Deposit Bonus” offered by Lime Fx, which provides a bonus of 50% of their deposits. This added value may be utilized for trading purposes, allowing traders to fortify their positions and enhance strategies accordingly. Upon fulfilling specific volume requisites, the bonus funds become withdrawable, thereby bolstering overall trading resources significantly. Payment methods refers to the various mediums by which users can credit and withdraw from their accounts.
Moreover, the integrated copy trading function lets customers duplicate the winning strategies of seasoned traders, so promoting a cooperative trading atmosphere. For people looking for a sophisticated trading experience, Lime Fx’s MT5 platform offers a strong and flexible trading alternative overall. Through the mobile app, clients can access multiple financial markets.