LimeFX Review 2024 Pros & Cons For Forex Traders - Daddy Tv

In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight. Its legal documents are accessible and written in an easy-to-understand way. The broker also has a clearly defined ‘Client Categorization’ policy. On the other hand, the broker charges a handling fee for withdrawals and does not afford an alternative to MT4. We use dedicated people and clever technology to safeguard our platform. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews.

i love this platform for its stability.

LimeFX ECN XL account holders pay no commissions to trade any supported asset. Dealing spreads for forex pairs and CFDs can vary from 0.0 pips upwards depending on the liquidity and trading volume of the asset involved. The broker also offers Islamic accounts for swap-free trading, as mandated under Shariah law.

LimeFX offers a single retail trading account with three base currencies – EUR, USD, and GBP. Swap-free trading is also available via LimeFX’s Islamic accounts upon request. I have compiled the table below to help you better understand the difference between LimeFX’s ECN XLl account and the industry average. It illustrates the spreads and commissions I have recorded for the EUR/USD pair and compares them against the typical costs for ECN and STP accounts in the industry at large. It’s fine if you want a no-fuss trading experience but seriously lacking in the research tools, analysis features.

LimeFX Customer Service

1. If you have a broad range of assets that you trade, such as international stocks, bonds or other equities, you might want to consider an international broker that provides these services.
2. LimeFX is good for day trading thanks to its very tight spreads in the ECN account, leverage trading opportunities, and access to the fast and dependable MetaTrader 4 platform.
3. LimeFX is a low-cost brokerage with no commissions and spreads that are generally competitive, especially on currency pairs.
4. Furthermore, it covers any banking fees that may be applied by the payment processor.

My research indicates that LimeFX’s overnight fees generally meet the industry benchmark. This is scammed by limefx suitable for implementing longer-term trading strategies (e.g. swing trading). The broker stands out for extremely low trading fees and a decent range of educational and research materials.

While an interactive course or videos are not available, the existing content provides a well-thought-through introduction to trading. LimeFX provides clients with daily technical analysis for the EUR/USD, GBP/USD, and USD/JPY. While each analysis is brief, it features all required information for traders to take a position.

Fees & Costs

The broker supports the popular MetaTrader 4 trading platform with multiple terminal capabilities and a multi-account manager. You can also access the LimeFX MT4 platforms on Android and iOS smartphones and tablets. LimeFX employs an electronic communications network/straight-through processing (ECN/STP) model, so you get tight forex dealing spreads from top Interbank liquidity providers. LimeFX offers demo accounts that introduce traders to the broker’s services and allow them to tweak their strategies in a risk-free environment. The market is continually evolving and never static, so it is important to hone your skills in a safe environment. While many forex traders are familiar with the MetaTrader 4 software, which allows for expert advisors that can automate your trades, no other trading platform is offered.

Customer Service

LimeFX uses state-of-the-art Secure Sockets Layer (SSL) network security protocol to keep client private information safe. Furthermore, all client funds are held in accounts with major international banks and kept segregated from LimeFX corporate accounts. Tight dealing spreads lower your overall trading costs and can significantly improve your trading results, especially if you are an active trader. LimeFX has unusually competitive dealing spreads that you can gauge by opening a free demo account.

However, LimeFX has outdone many competitors by offering the kind of tight spreads you’d expect from ECN accounts without charging a commission. LimeFX is an ECN broker and only maintains one ECN account for all clients. It is unique as traders get a commission-free cost structure with raw spreads, an unusual offer, presenting Forex traders with a notable edge. The overall trading environment at LimeFX features a low cost structure and competitive asset selection, . LimeFX lacks more trading tools, like CFDs on stocks for example, which became so popular recent days. LimeFX advertises free VPS, supporting automated trading solutions.

The website also has a dedicated FAQ section for more general queries. I also appreciated that LimeFX offers gold and crude oil assets denominated in multiple currencies (EUR and USD), making it more limefx forex broker competitive for traders with different base currencies. It impresses with its extensive range of currency pairs comprised of multiple major, minor, and exotic pairs. The mobile app version of MetaTrader 4 shares the same underlying issue as the desktop version.