LimeFx trading app Apps on Google Play

He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets. An experienced media professional, John has close to 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.

Forex Risk Disclaimer

Many brokers offer a swap-free account and while we are not experts in sharia law, we suspect they may not be truly sharia compliant. This is because the swap has been replaced with a periodic administration fee meaning you receive a charge every certain number of days you hold your position open. Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time.

Research and Education

The availability of these payment methods may also depend on your country of residence. LimeFx is regulated in Cyprus by the Securities & Exchange Commission (CySEC) and in South Africa by the Financial Sector Conduct Authority (FSCA). LimeFx holds just one Tier-1 license and one Tier-2 license, resulting in a grade of “Average Risk” within the ForexBrokers.com Trust Score rating system. Use our country selector tool to view available brokers in your country.

What Leverage Does LimeFxFX Offer?

Minimum deposits at LimeFx will vary depending on your country of residence and your chosen payment method. They can go as low as $25 (USD) when funding with Visa/Mastercard, to 50 euros (EUR) when using Skrill/Neteller to as much as 500,000 Indian rupees (INR). It’s important to note that minimum deposits and trading costs will also depend on which LimeFx entity you choose for establishing your trading account. LimeFx offers the full MetaTrader suite, albeit with a fairly limited offering of tradeable instruments.

• This is because the swap has been replaced with a periodic administration fee meaning you receive a charge every certain number of days you hold your position open.
• Founded in 2011, LimeFx holds a regulatory license in Europe via its Cyprus-based entity – LimeFx Markets Cyprus Ltd – which is regulated by the Cyprus Securities and Exchange Commission (CySEC).
• LimeFxFX also offers the chance to trade energy products like Texas Crude, Brent Crude, and Natural Gas.
• 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 main advantage of this platform is easier sign up and less hassle when making deposits and withdrawals.

Mobile trading apps

If you are not of Islamic faith, having no swaps can work for or even against you. Remember that swaps can either be a source of income or an expense, depending on how markets open. Profiting off swaps is a legit trading strategy but this won’t be possible with LimeFxFX.

With this in mind, we think it is safe to say LimeFxFX does not live up to its claim of having the lowest spreads in the market. LimeFx offers barely 277 tradeable instruments, which varies by platform, with the most on its MT5 offering. By comparison, industry leaders Saxo, IG, and CMC Markets all offer over 10,000 tradeable instruments. LimeFxFX does not charge internal withdrawal fees, but traders may incur third-party payment processor costs, blockchain fees, and currency conversion charges. However, LimeFxFX recommends depositing at least $100 to have a better trading experience. We always recommend you trade with an appropriately regulated broker, with this in mind LimeFxFX is an option if you are based in the European Union where CySEC regulates them.

Becoming regulated in more jurisdictions – especially in Tier-1 jurisdictions – will go a long way towards building trust with existing and prospective customers. Rather than specializing https://limefx.club/ in any one field, LimeFx provides a wide assortment of content types. However, when compared to research leaders IG, Saxo, and CMC Markets, LimeFx has room to enhance its research offering.

As the customer service operator pushed me towards it, transferring to some cryptocurrency such as Bitcoin or USDT is always possible. However, LimeFxFX suggests a minimum deposit of $100 for optimal trading experience. The most popular of the three platforms is MT4, the industry-standard workhorse that more or less every retail broker offers. But, it must be said that depositing funds and holding your capital with LimeFxFX is definitely a higher risk than trading with other, more regulated brokers. 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.

As long as a broker has MT4 and MT5 it should be more than enough for most retail traders. 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). Founded in 2011, LimeFx holds a regulatory license in Europe via its Cyprus-based entity – LimeFx Markets Cyprus Ltd – which is regulated by the Cyprus Securities and Exchange Commission (CySEC).

But, even for simple questions, we didn’t find the customer service options impressive. All in all, LimeFxFX does have a good range of funding options but it does seem they are lacking in funding options you would expect to see such as BankTransfer and VISA. It is a similar story for credit card deposits, which seemed only to be available for certain countries, VISA for example appears only available for clients in the EU – very odd. The MT4 platform has ultra-intuitive charting options and all the most common technical indicators. It’s very simple to enter buy and sell orders, as well as set stop-losses, you can even use Expert Advisors (EAs) for automated trading.

In South Africa, LimeFx provides financial services to clients through an intermediary, Orinoco Capital, which is licensed by the Financial Sector Conduct Authority (FSCA). LimeFx has made great strides with its pricing options for traders and its educational content, but suffers from a limited range of tradeable instruments. LimeFxFX Best Forex Demo Accounts are available with MT4 and MT5 and have no time restriction on the trial period. With this in mind, the demo accounts are effectively a practice account. You can use all features including all the trading products available for trade and Expert Advisors for automation. If you are of the Islamic faith meaning you comply with Sharia law then this account is one of the best options on the market.

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.

There’s no question – if LimeFx 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) limefx reviews help to flesh out LimeFx’s educational offering. That being said, there isn’t much educational content for learning how to trade or understand market dynamics. It’s worth mentioning that the broker does have a blog and a YouTube channel, yet I was still left wanting more.

To do this, we take the Forex Fees and the average spreads brokers publish on their website and compare them with the spreads LimeFxFX public on their website. LimeFx (formerly LimeFxFX) offers a basic, low-cost MetaTrader platform experience alongside its proprietary web and social copy-trading platform. There was one slightly different trading platform, which is the LimeFx copy trading software.

If this doesn’t concern you and you assume swaps costs will be unfavourable, then this account will encourage you to trade mid-term and long-term. There is one very interesting feature with both these accounts and it’s not something we have exactly seen before. 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.

This allows CFD and Forex traders to either copy other traders’ trading signals or let you broadcast your own trading signals to other traders on the social trading platform. Another thing we should note is that in the case of LimeFxFX, we assume the spreads haven’t been widened. If they have, then this would be akin to an administration fee however it is difficult to prove if LimeFxFX is doing this. Steven Hatzakis is the Global Director of Research for ForexBrokers.com.