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All in all, LimeFX offers a pretty great suite of educational resources, but it’s a bit of a shame that they don’t provide well-produced video courses to supplement the articles. The LimeFX education resources proved to be useful for both experienced and rookie traders. Regardless of whether you’re a beginner or a seasoned trader, LimeFX will have something for you. The written tutorials on the company’s website cover a very wide range of trading-related topics, from basic terminology to concepts like risk management and trend lines.
This would be a red flag were it not for the fact that the company is regulated by the FCA which, along with U.S. regulatory agencies , is widely considered to be the preeminent regulatory body. LimeFX offers very competitive FX spreads and a bevy of user interfaces. I need multiple trading accounts but the system has to approve one by one. Customer service is great, providing lightning-fast and relevant answers.
Deposit and withdrawal are a breeze, with no fees charged in most cases. MetaTrader Signalslets you access thousands of trading strategies and signals from other traders. Their share CFD selection also includes 100 popular UK stocks, a number ofGerman shares as well as more than 200Australian shares. It’s good to know that, unlike traditional share trades, there is no stamp duty to be paid on UK CFD trades.
- LimeFX strictly complies with all International regulations therefore, therefore, there are certain rules we have to follow.
- The leverage ratio depends on the regulation and the financial instrument, and asset class.
- The company also provides funding options without any fees for its traders.
- Soft commodities are another choice for diversifying your portfolio with LimeFX since the prices depend on moving and delivering physical assets.
- When you create your account, you will be taken directly to the secure client area.
Traders with a LimeFX account have access to CFD trading on 20 commodity instruments. These include soft commodities like cocoa and orange juice as well as energy and metal pairs traded against the US dollar, the Euro, or the Australian dollar. LimeFX offers over 60 currency pairs, including majors, minors, and exotics, to trade. CFDs allow traders to speculate on the price of assets without owning them in their accounts.
This short questionnaire is used by LimeFX customer service to assess whether trading CFDs is appropriate for you. While most brokers don’t include this step in the account-opening process, it is a responsible move in an industry that is often accused of an irresponsible approach to consumer protection. All three of LimeFX’s trading platforms are available on both Android and iOS mobile devices and tablets. Beginner traders should be aware that there is some loss in functionality when compared to the desktop trading platforms, and poor mobile connections seriously impact trading. Commissions are also affected by the base currency of your account on the MT4 and MT5 platforms and what currency pair you are trading on the cTrader platform.
They are packed with advanced technical features, which improve the trading experience of the client. Opening an account at LimeFX took me only a few moments via the secure online application form. New traders may use their Google or Facebook accounts to complete the initial step. I like that LimeFX added the verification to its application, not necessary for traders opening a demo account, as it is a requirement and saves traders a few steps. A copy of the ID and one proof of residency document generally satisfy mandatory account verification. A LimeFX demo account is available, and traders may adjust the leverage and portfolio size to as low as $200.
LimeFX is based out of Melbourne, Australia, with additional offices in London, Bangkok, and Dallas. Due to its location in Australia, LimeFX is regulated and licensed by ASIC and the Financial Conduct Authority . Comparebrokers.co needs to review the security of your connection before proceeding. It does not allow clients to contact them in case of a trading emergency. Instead, local clients can walk into the LimeFX office in Melbourne, Australia. The funds are held in segregated accounts and protected from misuse.
Despite these flaws, LimeFX remains a very strong choice for international traders. LimeFX is an Australian broker focused on providing international forex, CFD and cryptocurrency trading. Though U.S. traders currently cannot open an account with LimeFX, the broker remains an affordable and comprehensive option for international traders. Hi ELimeFXr, Thank you for taking the time to provide LimeFX with your feedback. LimeFX prides itself on being an International FX Trading firm welcoming clients from across the globe. LimeFX strictly complies with all International regulations therefore, therefore, there are certain rules we have to follow.
Why Might You Consider Using LimeFX?
Bank transfer withdrawal is also free for EU and Australian clients, but quite pricey ($20 or equivalent) for others. I personally like LimeFX MetaTrader 4, it is really working well for me and aiding my trade in a great way. I have a friend using LimeFX cTrader platform and obviously, it also working very very well for him, even claims it outshines both the LimeFX MetaTrader 4 and LimeFX MetaTrader 5 platforms. The main reason why LimeFX broker may not be for you is if you are really interested in expanding your CFD portfolio, especially with metals. Other than that, LimeFX broker really is one of the best trading brokers available today. And, as mentioned in the customer support section, if you do happen to run into any problems, their customer support is available and ready to help you sort it out.
However, per our LimeFX UK review, you could get started with a sum lower than the set amount. Remember if you want to opt for a demo account, click on the demo account section in the middle of the landing page. So if the withdrawal takes over five business days since its processing and you’re unable to locate the funds, consider mailing ‘’ to get a receipt of your withdrawal limefx courses scam and enquire further. Besides, once you’ve initiated a withdrawal request, there’s a request generated which needs to be confirmed within an hour. It can be done by clicking on the “Accept Withdrawal” link embedded within the confirmation email. Or, if your account has an active 2FA , simply enter the received code over your Authenticator app and confirm the withdrawal step.
On the other hand, research resources could be a lot more comprehensive, and the number of trading instruments falls short when compared to other high-level brokers. However, LimeFX is a hugely popular platform despite these drawbacks, and is worth trying, especially if you’re a trader from Australia. For other options, take a look at Australia’s leading stock trading apps. As is generally the case with all companies that offer CFDs, around 76% of retail traders who invest in spread bets and CFDs with LimeFX lose money. That’s due to the inherent volatility of CFDs, which makes them very risky for new traders who don’t know exactly what they’re doing.
Deposit Options
It creates a more solid trade execution, allows retail traders to manage their portfolios with tools that the professionals use, and enhances risk management. The average spread on LimeFX is 0.69 pips, but some CFDs offer 0 spreads. While many reviews say LimeFX consistently ranks among top brokers for tight spreads, these are roughly average.
Traders enjoy the protection offered by the broker’s registration with more than five major international regulatory bodies. The Group Chief Executive Officer of LimeFX since October 2017 is Tamas Szabo. He has been a key https://limefx.vip/ figure in successfully developing retail forex and CFD trading in the Australasian region since 2007. Different regulatory and financial protections apply depending on whether you’re trading with the UK or Australian business.
Popular Careers with LimeFX Group Job Seekers
DupliTrade lets you tap into other traders’ expertise for new techniques. However, you will have to deposit a minimum of AUD 5,000 to access DupliTrade’s strategy providers. Some companies are not very transparent with how they are making money, but LimeFX is a very transparent broker.
- We are committed to the fair handling of reviews and posts regardless of such relations.
- Additionally, LimeFX’s cTrader integrates with TradingView, adding advanced functionality.
- LimeFX prides itself on being an International FX Trading firm welcoming clients from across the globe.
- Lastly, you can gain access to TradingView’s advanced charting tools.
Both ForexVPS and New York City Servers have dedicated 24/5 customer support teams that can help new users get set up and install EAs and indicators directly to the virtual machines. VPS services have the advantage of never suffering connectivity issues and have extremely low latency due to their proximity to major international exchanges. For more information about tier 4 of the Active Trader Program, traders should contact LimeFX customer support.
LimeFX also caters well to beginner traders with a quality educational offering, in-house research, and 24/5 multilingual support. The trading platforms utilize automatic stop-out systems to eliminate negative balances, but the website admits that “losses may exceed your deposit amount” in volatile market conditions. LimeFX offers negative balance protection, which is mandated under ESMA rules that went into effect in 2018, for its U.K./E.U. Clients do not receive negative balance protection, and no stop loss is guaranteed. The broker does have two-factor authentication but does not offer bio-metric authentication for its mobile application. LimeFX’s cTrader is a streamlined trading platform that is available as a download or web-based interface, which is stable and easy to access from any browser .
However, there are tax accounting tools provided by LimeFX on these platforms. Traders may choose between the MT4/MT5 trading platforms, upgraded via 28 plug-ins Smart Trader suite, which I find outstanding. Autochartist is also available, further increasing the edge for traders. Additionally, LimeFX offers the cTrader platform, and I find the overall choice of trading platforms excellent. All three platforms support algorithmic trading and come with embedded copy trading functions. LimeFX also provides social trading via third-party providers Myfxbook, MetaTrader Signals, and DupliTrade.
LimeFX Review – Is it Legit? (October
When you are first beginning with LimeFX broker, you will need to open an account. You do those through an online application, which is fairly standard in the industry. And if we want to close the position, we will be closing it on the Bid price and we will pay this difference of $10 to the broker, which is called the spread. And this is one of the ways that the LimeFX broker benefits from our trading. It is just like the exchange bureau, the bank when you go to exchange currencies, there is always a difference between the Bid and the Ask price or the Sell and the Buy price. LimeFX broker was founded in 2010 by traders for traders with a focus on global outreach.
You will notice that all the LimeFX accounts have “Edge” in their name. Edge Standard Accounts have institutional grade STP spreads and $0 commissions. With this account, you get to enjoy the liquidity from 22 banks, trading via MetaTrader 4, and negative balance protection, all from an Australian-regulated firm. Via two third-party companies , LimeFX offers a discounted VPS service for traders using the MT4 and MT5 platforms. VPS hosting allows traders to run automated algorithmic strategies, including expert advisors 24 hours a day 7 days a week on a virtual machine. Compared to other similar brokers, LimeFX’s account opening process is fast, generally hassle-free, and fully digital.
LimeFX offers a similar range of instruments as other brokers but offers a wider range of Forex pairs. Due to FCA regulations, maximum leverage on all assets is low, though this will be the same for all FCA-regulated brokers. Traders must deposit a minimum of 200 units of the base currency supported by the broker. Overall, LimeFX is a unique broker to forex traders from around the world.
How to Open an Account 👷♂️
The platform is backed by regulations under FCA (United Kingdom’s Financial Conduct Authority) and FRN, adding to the safety net of LimeFXs for the locals. Now, while the entire withdrawal process is seamless, there are some exceptions to the process. For example, it can take over five business days for the funds to get highlighted in your account.