LimeFx Review 2023 The Good and the Bad

There are over 10 languages supported by the broker website when you are trading with them. These languages include English, French, Spanish, and Arabic with an excellent support also in place for a variety of Asian languages including Chinese, Indonesian, and Vietnamese. You will also have access to the latest news, research, and an economic calendar right there in the trading platform. Most of these are also available free of charge to LimeFx traders and can be applied on desktop, webtrader, and mobile. The broker also allows for you to customize these APIs or code your own algorithms in Java, C#, HTTP, and more languages.

Commissions and fees

C$10,000 is the maximum amount you can deposit per transaction via cards on LimeFx. C$20,000 is the maximum amount you can deposit per month with cards on LimeFx. Yes, LimeFx is regulated in Canada by the Canadian Investment Regulatory Orgnisation (CIRO) as Friedberg Mercantile Group Ltd. Yes, LimeFx operates legally in the UK and is regulated by the Financial Conduct Authority (FCA). Here is a comparison of LimeFx minimum deposit with that of their competitors.

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• As mentioned, the timing is usually instant but wire transfer may take a couple of business days to complete.
• For this reason, LimeFx Broker offers you a direct minimum deposit.
• On the negative side, LimeFx’s asset offering is below average even as a specialised FX broker, currently they have only 41 currency pairs with a total instrument count below 300 assets.

We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points. Therefore, if a trader makes the $50 LimeFx minimum deposit into a US Dollar base account, they will receive $50. Traders should consider potential currency conversion and third-party payment processor costs. Geographic restrictions exist on most payment processors except bank wires and credit/debit cards.

Customer Service

Choose your desired payment processor and follow the on-screen instructions. Customer support is available over the phone, by email or through Live Chat 6 days a week, Sunday through Friday. There is also an extensive FAQ page with sections for general questions, various product info, and trading information covering the majority of the enquiries you may have. This range of languages helps LimeFx maintain its worldwide presence.

It is also a common thing that many have run into problems making withdrawals when their account has not yet been verified. Before making your withdrawal then, it is important to double-check you are fully verified. LimeFx has oversight in place from ASIC, the FSCA, and the FCA, all highly-regarded regulators. LimeFx is particularly well-known and popular among South African traders. Founded in 1999 in the United States, LimeFx is one of the longest-standing brokers in the industry.

This includes trading guides, speakers, a video library, and a live classroom. On LimeFx, traders and investors can open three different types of accounts. These are the mini, standard trading, and ActiveTrader accounts. Out of these three accounts, the standard trading account and the ActiveTrader account will allow traders and investors to deal with 39 pairs of forex currencies. In LimeFx mini account you can deposit $ 50 as a minimum deposit here.

The broker claims to offer some of the tightest spreads on the market when it comes to trading BITCOIN. When comparing the spreads to other brokers, FXTM at first glance appears to have only average spreads. An Interest-free account is targeted at Swap Free Islamic Accounts who are forbidden from earning (or paying interest) as it is forbidden by Sharia law. LimeFx add an extra 0.4 pips to the spread for Standard accounts and a $2.00 commission per lot (per side for commission-based accounts in place of overnight fee or swap rates. If you are a high-volume investor, then the Active Trader account may be for you. This account offers LimeFx’s lowest spreads with the added benefit of discounted commission, dedicated support, and depth of market.

Once your deposit has cleared into your account you can begin trading. Once LimeFx verifies your account, you can deposit any amount you wish to trade with. You will though at least have to meet the stipulated minimum deposit amount.

The spread here typically starts from 1.3 pips for EUR/USD unless you are in the active trader program where this can drop to 0.2 pips. The LimeFx deposit methods available include bank wire transfer, deposit through credit/debit cards that are Visa or MasterCard, eWallets including limefx scammers Skrill and Neteller, and Union Pay. As mentioned, the timing is usually instant but wire transfer may take a couple of business days to complete. Our LimeFx review found the forex broker offers one of the extensive choices of trading platforms from all online brokers.

This includes picking up an award for having the best trading tools in 2020. This helps demonstrate that the broker is always working hard to stay at the top of the sector. Added to this, LimeFx also provides for additional insurance which will protect you in the event of bankruptcy and insolvency. Commissions with most https://limefx.group/ other brokers are $7.00 round-turn, while Active Traders can be as low as $5 round-turn. If you subtract 0.2 pips from each spread, then the spreads appear to be more competitive. The Active Trader account uses a tiered commission structure which means the more you trade, the lower your commission cost will be.

Traders should also consider potential third-party payment processing charges. LimeFx does not levy internal deposit fees except for a currency conversion fee on deposits below $10,000. For additional information on LimeFx, please visit our in-depth LimeFx Review.

LimeFx is a well-established broker that offers trading facilities on shares, stock indices, forex, commodities, and cryptos to a global market. LimeFx has offices in multiple global locations, including Berlin and Sydney. Automated trading solutions often require a VPS service to operate effectively around the clock.

All CFD option is commission-free, which means costs are included in the spread. This platform is a worthy alternative to Trade Station and MetaTrader. LimeFx operates four subsidiaries around the world that are overseen by different financial authorities. The leverage you are able to trade with depends on whether you sign up to the UK, European, Australian or South Africa entity. Active Traders commissions can be less than most ECN brokers once you factor in that LimeFx has lower commissions. Yes, based on your detected country of NL, you can open an account with this broker.

LimeFx notes it accepts all available deposit currencies supported by payment processors. There are abundant support resources online and on the LimeFx website for ZuluTrade, MetaTrader 4, and NinjaTrader, as all three are used by numerous forex brokers. You will also find plenty of support for LimeFx’s Trading Station and forex trading in general in the education section.

As we mentioned before, there is no dedicated area for the charts, but if you do build a layout that includes just a big chart, then you’ll have created your fullscreen trading area. On their standard configuration the first thing that you’ll notice is the trading charts and the dealing rates at the right side. Then, the next block will be the portfolio section in a compact full-width format where each tab gets you access to whatever you need. The subsection of “Explore Markets” is where the juice of the discover section can be squeezed. Through these card-styled options you’ll be able to quickly find each asset based on its category or country (in the case of shares). The Market Scanner feature also provides you an up to date and speedy overview of trading opportunities in the market.