LimeFx Review 2024

This means that if there has not been any trading activity recorded on your account for over a year, you will be liable to pay this fee. The fees that you might have to pay mostly depend on the account type you are using, as well as the asset you are trading. The broker has adopted modern technology to ensure that the clients are able to start trading in a short time after registration.

  1. A minimum deposit of 10,000 USD or equivalent is required to open an LimeFx Shares account which is quite pricey.
  2. Based on our tests, the live chat is the quickest and most convenient way to get help.
  3. LimeFx Broker provides 24-hour phone, email, or online chat customer service from Monday to Friday in 30 different languages.
  4. Depending on where you are based, LimeFx also offers some nice signup bonuses including a no-deposit bonus of $30 and another 100% bonus matching your deposit up to $5000.
  5. There are no trading bonuses and no deposit bonuses, plus hedging is allowed.

If you want to calculate the margin levels, first you need to count the margin that required to open 1 trading. The formula that you can used to find margin is leverage x volume (lot) x current bid/ask price. LimeFx Standard Accounts is pretty much similar to LimeFx Micro Accounts, except for the lot size, minimum trade volume, and maximum lot per ticket. In Standard Account, 1 lot is 100,000 units, the minimum trade volume is 0.01 lots, and each ticket can reach up to 50 lots.

Forex Accounts

LimeFx does not charge for processing withdrawals, but your bank or payment processor could levy a fee. In this LimeFx review, we’ll be taking a look at all you need to know about LimeFx, including regulation, pricing, their trading and mobile platforms, types of account, their research and education. The other account types at LimeFx (LimeFx Standard and LimeFx Micro) charge spreads from 1 pip, which are in line with the industry standard of 1 pip. No, you can test all LimeFx account types with a demo account with the exception of the LimeFx islamic account. Spreads on this account type are from 1 pip (within the industry standards), with no additional commissions charged other than standard trading fees such as overnight fees. The LimeFx ultra low account is an account type that features spread mark-up starting from 0,6 pips (40% cheaper than the industry standard of 1 pip).

Additional Tools

We also like that the brand provides negative balance protection and uses segregated client accounts. We also appreciate that the broker offers fractional pip pricing, with five digits vs the four typically offered by forex brokers. LimeFx provides mobile trading apps for both Android and iOS devices, offering intuitive interfaces, real-time charts, technical indicators, and easy order execution. Compared to other forex brokers who offer Islamic accounts, LimeFx’s offerings stand out. That is because most brokers will give Islamic accounts higher spreads. The “Tradepedia” education section has 39 videos which are divided down into seven sections.

On the pages for each platform, you will find multiple tutorial videos. These cover things like using Expert Advisors, placing orders, the terminal limefx scam window, using templates, and more. Although MT4 Multiterminal is technically a variation of MT4 for LimeFx, it has additional functionality.

What Type of Research Does LimeFx Offer?

For this reason, I prefer brokers who support digital wallet funding. I think it is great for finding trading signals and can save you hours by automatically scanning the markets on your behalf. It is also a great solution if you don’t have the knowledge or experience to decide which way the market is moving.

Moreover, the platform also provides a trader with fractional pip pricing. Fractional pip pricing allows the broker to implement the best prices available from liquidity providers. This allows traders to get tighter spreads and more accurate quotes. In the asset library, you can find 1,210 CFDs as well as 57 forex pairs (exotics, majors, and minors). The library can be casually browsed or filtered if you would like to find a specific stock originating from a certain country.

Furthermore, LimeFx profits from clients’ losing trades when it operates as a B-book broker, essentially taking the opposite side of the trade. Another alternative is the LimeFx Zero account, which charges raw spreads from 0 pips and a fixed commission of $7/lot round-turn, which is in line with the industry if compared to other raw accounts. However, Islamic traders should know that the demo account is halal, since even though it charges rollover fees, it’s all virtual as the trading environment is simulated. There are several options to contact the customer support team of LimeFx. First, you can do so through the live chat available on the website of the broker.

Further, a USD 100 minimum deposit condition was required for this account. LimeFx charged a flat $7 as total commission for every $100,000 traded on the Zero Account. This account type has highly competitive spread of as low as 0.8 for EUR/USD. The minimum deposit for this account is is 730 South African Rand/ZAR. They are a spread only Forex broker, they Ultra Low, Standard and Micro Accounts have variable spread without any extra commission.

Also, you may use the fee calculator provided by the LimeFx for an easy understanding of your costs. LimeFx operates with variable spreads, just like the interbank forex market and imposes no restrictions on trading during news releases. LimeFx fixed spreads are higher than a variable ones, as well are more flexible to different trading strategies. That means all trading costs are calculated into a spread with no hidden fees and tightest spread offering.

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