The security of your funds – in terms of regulatory protection – will depend on which LimeFX entity holds your account, and which –if any – relevant regulations provide customer protections. It’s worth noting that LimeFX’s primary execution venue is one of its own entities in St. Lucia. 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). In South Africa, LimeFX provides financial services to clients through an intermediary, Orinoco Capital, which is licensed by the Financial Sector Conduct Authority (FSCA).
Markets
I like how they operate as an ECN broker as this means they can deliver superior trading conditions which can be important especially for those who are day trading and using scalping strategies. The broker has some useful trading tools, educational resources and a prompt customer support team on hand to assist you as and when needed. Overall, I think they can be a good choice of broker for beginners or active traders who are looking for robust trading conditions in a regulated environment. Dear AR-AR, Thank you for your recommendation and kind words! We’re delighted that you find the LimeFX mobile app easy to understand and user-friendly, especially for newcomers to trading. These resources cover essential topics and strategies to help you grow as a trader.
The account you go for may also depend on the trading platforms that you wish to use, instruments you want to trade and minimum deposit requirements. The broker provides you with a good range of educational materials including video tutorials, trading guides, FAQs and a glossary. Subjects covered include the very basic lessons such as an introduction to trading and how to place a trade to the more advanced technical and fundamental analysis. The information is very easy to digest and is supported with visual representation for clarity. If you are an absolute beginner and looking for some more guidance along the way, LimeFX have lots of good educational content as well.
Leverage
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. Another thing we should note is that in the case of LimeFX, 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 LimeFX is doing this.
Deposit and Withdrawal
Apart from that, LimeFX offers you the ability to deposit and withdraw using e-wallet services such as Neteller and Skrill. As the customer service operator pushed me towards it, transferring to some cryptocurrency such as Bitcoin or USDT is always possible. However, LimeFX suggests a minimum deposit of $100 for optimal trading experience. We can tell you that LimeFX 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.
- The account you go for may also depend on the trading platforms that you wish to use, instruments you want to trade and minimum deposit requirements.
- Overall, this is an excellent hybrid combination that can secure the best market prices, lowest spreads, and fastest trade execution.
- Yes, they provide mobile trading capabilities through the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) mobile apps.
- You can also get it through some other brokers including Forex.com.
The broker offers trading platforms that are very adaptable and strong, and they provide a variety of account types to accommodate various kinds of traders. Trading fees are quite low compared to those of competitors, and customer support responds quickly to inquiries. The LimeFX Trading App is an official checking trading account with built-in tools to help you manage your LimeFX personal profiles, control real, demo and contest accounts, and limefx official site manage deposits. It is a smart trading platform combining everything a trader needs in an easy-to-use app. You can make fast deposits and withdrawals, instantly log in to your trading profile and access your terminal to trade simultaneously in all of your accounts. As well as controlling your trading accounts and monitoring balance statistics, they’ve added integrations with trading platforms, so you can start trading with no effort at all.
The Demo Account replicates the performance of a genuine account, providing a realistic representation of forex trading. Traders, on the other hand, practice their skills using fictitious money in limefx scam a practice account rather than actual cash. In addition, the broker mandates that all withdrawal requests from traders be followed up with an email confirmation. Because of the use of 3D Secure technology, financial transactions involving Visa and Mastercard are not only secure but also open to public scrutiny. This LimeFX review for Namibia will provide local retail traders with the details that they need to consider whether LimeFX is suited to their unique trading objectives and needs. LimeFX provides well in terms of language choice to traders, though there is a clear focus on the Asian market when it comes to available languages.
LimeFX utilizes all of the tools that are in place with your trading platform to help you to do this. This is provided both through their own dedicated copy trading platform and a mobile trading app for on the go trading. You can choose to either be a copier, or a “Master Trader” where others will copy you and you will earn a commission.
LimeFX’s variable spreads are marked up to account for the broker’s service fee, which is incurred in the process of arranging the transaction. LimeFX will determine the spreads for each transaction based on the kind of financial instrument that is being transacted as well as the conditions of the market on that trading day. Yes, they provide mobile trading capabilities through the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) mobile apps. These apps are available for download on both iOS and Android devices, allowing traders to access the markets on the go.