Since entering a very competitive market eight years ago, it has built up a client base of almost one million traders and won a host of industry awards. Such success is built on developing an approach that is, first and foremost, trader focused. It’s always nice to have extra security tools thrown in and Lime Fx provides limefx forex broker more than most. The Lime Fx technical environment is monitored 24/7 by a dedicated team of highly professional security engineers and technical specialists.
However, this should not detract from what Lime Fx is, as a convenient, efficient, cost-effective trading proposition, that is attracting a number of third-party industry awards. MetaTrader 5 is a sophisticated trading platform with lots of analytical tools. It is known to be quite popular among intraday trading pros and algorithmic traders thanks to its advanced features.
Lime FxTrader
- Most of the trading tools and indicators offered via the desktop version are readily available on the mobile trading app.
- The combination oflow spreads and fast execution speeds make this broker a great choice for scalpers.
- He expands his analysis to stock brokers, crypto exchanges, social and copy trading platforms, Contract For Difference (CFD) brokers, options brokers, futures brokers, and Fintech products.
- The trust score came in low, largely because the Lime Fx Markets Inc. entity is unregulated.
Going by customers’ review, Lime Fx can be said to be unworthy in light of numerous complaints heralding withdrawals, especially on large size accounts. Aside from the products and services already discussed in this review, Lime Fx offers more. In this section, we are going to be looking at these extra products and services. Lime Fx has improved its educational offering with webinars and live trading session recordings and expanded its educational articles and videos.
This is an impressive feature if you’re new to trading due to the constant flow of trading ideas with detailed market commentary that will help you learn in real time. Plus, you can fine-tune the Space by choosing specific instruments only to receive these ideas from – in my instance, I chose USD/JPY, gold, and EUR/USD. I found the account opening process to be rather straightforward where you complete an application filling your personal details and choose the platform you wish to work with. In my case it was the MetaTrader 5 platform, however, I found that once your account is https://limefx.group/ open you can select different platforms from within the dashboard. Withdrawing from my account was also fast, according to my account manager each withdrawal takes roughly 2 hours to get approved.
You can access strategies to follow through the community forums and program your own with MQL5 and C# fully supported. This means you can open positions with as little as $1,000 and this amount can be further reduced if you are trading on leverage. The slight difference between ECN and DMA in terms of the liquidity provided is that the typical ECN brokers liquidity providers are not known.
- They are categorised into types, such as Trends, Oscillators, Volumes, and Custom.
- With a perfect score in this category, Lime Fx has gone above and beyond to educate its clients.
- In South Africa, Lime Fx provides financial services to clients through an intermediary, Orinoco Capital, which is licensed by the Financial Sector Conduct Authority (FSCA).
Account Information
For instance, I found that the content on the Lime Fx Blog is not updated daily across all categories. For example, the “minimum expertise” field lets you choose between newer systems, all the way up to those with legend status. It would be useful to be able to sort the columns from highest to lowest, but that feature is not yet available when looking at the Master Rating results page. One way in which Lime Fx leads the sector is its willingness to share data on its own operations. In line with this transparent approach, it also provides a range of metrics relating to the performance of its customer support team.
Once approved you can expect the funds to be in your bank account/wallet within 30 minutes which is extremely good service in my opinion. It is regulated by the FSC in Mauritius, the Mwali International Services Authority (MISA), and CySEC for European traders. The broker has also been operating for 12 years, which is a strong signal of safety in my book. A nice feature I liked was the order ticket showing your potential profit and loss in monetary value compared to just in pips like other platforms. This is a useful feature if you’re new to trading as you’ll know your monetary risk instead of guessing with a pip conversion which could lead to mistakes and over-risking your trades. If you’re unsure which platform is for you, I’ve created this 5-step questionnaire that will match your answers to help find the best forex trading platform for your trading style.
CTrader has a desktop version, and is also available in apps for android and iOS. It allows clients to learn and try multiple risk management strategies without any deposit. The Lime Fx Demo Account is essentially a practice account With which users can understand and get familiar with various features of the Forex trading platform before committing real funds.
Filippo Ucchino has developed a quasi-scientific approach to analyzing brokers, their services, offers, trading apps and platforms. He is an expert in Compliance and Security Policies for consumer protection in this sector. Filippo’s goal with InvestinGoal is to bring clarity to the world of providers and financial product offerings.
However, clients can choose their preferred virtual balance of the account in order to dictate the pace of their learning process themselves. There are a lot of additional services to complement the trading interface. The research and learning sections, for example, are of a very high standard and the in-house copy trading service is a neat addition. But the core of the Lime Fx offering is the provision of convenient, efficient, cost-effective access to the markets. Clients can opt to trade using ECN portals, which take the quality of execution up a level. The choice of trading platforms means users can select the best fit for them.
Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry. Lime Fx is regulated in Cyprus by the Securities & Exchange Commission (CySEC) and in South Africa by the Financial Sector Conduct Authority (FSCA). Lime Fx 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. Lime Fx provides more information about its operational risk management than it does about its regulatory framework.
CFDs
Lime FxTrader is the most basic option but best for beginners out of the three platforms in my opinion with an attractive user interface. In particular, it has a Pattern tool that lets you apply a variety of technical analysis on your charts automatically which is useful if you are new to forex trading. While the regulatory situation of Lime Fx is adequate, it is not among the best-regulated brokers in the world. Also, if you want to access your trading account with Lime Fx on the go, you can always download Android or iOS apps and login to your account from anywhere. In the beginning, Lime Fx started its service by offering the MetaTrader 4 platform and till today, the Micro account comes equipped with this popular trading software.
Copy Trading and Additional Services
Here you can learn the ropes, ideal for a beginner, with no obligation to enter live trading. In this Lime Fx review, you will find everything you need to know on the key areas of the broker like spreads, account types, and security. Lime Fx does not charge any fees for withdrawals and also covers any fees imposed by payment systems, allowing traders to withdraw funds without incurring additional costs. Lime Fx provides dozens of detailed guides in article format on subjects ranging from using moving averages to setting up the Autochartist Metatrader plugin.
The respective app versions are downloadable from the Google Play Store or App Store for Android and iOS-based mobile phones. The trading interface of Lime FxTrader is quite unique, it presents users with extended functionality. It combines market data with charting, so customers can see live prices of instruments even as they perform live analysis. However, on a review that an account has been inactive for long it gets deactivated. Various account types on the 3 platforms have different deactivation dates as stated below.
It is easy to set up to trade ‘algo’ models on an automated basis, and it offers the expert advisors and MQL5 support services that allow traders to draw on the ideas of others. Forex pairs, metals, indices, energies and cryptos are all available, but traders looking for single stock names will be disappointed. With less than 100 instruments on offer, there is no space for the more complex instruments such as options found in the quieter corners of the financial markets.
This broker charges no fees on currency conversion during deposits and withdrawals. However, with deposits in currencies other than the USD, the payment provider on conversion of the funds to dollars using their internal exchange rate may charge additional fees. NBP — the Lime Fx management/trade order system ensures that the client cannot lose more than the initial deposit in their account. Even if a position ‘gaps’ in extreme market conditions, then the client will lose the funds in their account by no more than that. A lot of brokers consider them mutually exclusive, so only offer one, if any at all.
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