For traders looking for more robust options, Exness is a good alternative to Lime Fx. The limefx website broker has its proprietary trading platform known as Lime FxTrader, which operates on web and mobile versions. In addition to this, Lime Fx is one of the MetaTrader 4 brokers and also offers the MetaTrader 5 platforms to traders. MT4 and MT5 are the gold standards when it concerns automated trading solutions.
MetaTrader is also popular due to its copy trading and automated trading features. The EU entity of Lime Fx clearly states its regulatory status in the website’s footer. The offshore entity also references its corporate registration number with the Saint Lucia authorities at the bottom of each page. However, there is room for improvement in terms of being clear about the unregulated status of the offshore entity. Lime Fx is a broker that has operated for over 10 years and has been expanding during this time. It is a global company with several entities responding to different regulatory needs.
Lime Fx also provides platform tutorial videos, which cover getting started with MetaTrader, using your personal account area, and copy trading. Daily and weekly forecasts in the Market Insights section preview the key economic data ahead and highlight the major market movers. The reports cover significant support and resistance levels and technical signals from indicators such as MACD and Parabolic SAR. The research section also includes specific trading ideas, target prices, and key price levels to watch. We performed our tests with a live account, using the MetaTrader 5 and Lime FxTrader platforms, opened with the Lime Fx Saint Lucia entity (Lime Fx Markets Inc.). It has several entities around the world and provides services by industry standards.
In my case it was the MetaTrader 5 platform, however, I found that once your account is 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. 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.
- Each of them operates with a different trading platform and uses different spreads and assets.
- To change the leverage on Lime Fx, users first have to login to their trading account.
- Lime Fx clients can make deposits and withdrawals via bank wire, credit card, digital wallet, and cryptocurrency.
Deposits
I think this is a sweet spot for the majority of traders unless you are seeking less popular markets or specific stocks to trade. The copy trading platform is also a bonus, which is the perfect opportunity to mirror the trades of 1,500 traders and leverage their experience to profit from leveraged markets. I found all platforms Lime Fx offers provide mobile trading apps on your iOS or Android device, which can be downloaded directly from the broker’s website. Lime FxTrader is the most basic option but best for beginners out of the three platforms in my opinion with an attractive user interface.
Account Types and Terms
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. Copy trading with Lime Fx is perfect for beginners who are just starting with forex trading. By following experienced traders, you can learn the ropes of the market and develop your own trading skills. Meanwhile, experienced traders can use the platform to share their knowledge and expertise with others while earning additional income.
Lime Fx classifies the MT4 trading account for the Traditional Trader and MT5 for the Innovative Trader. One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check them before evaluating the total trading costs. Lime Fx segregates client deposits from corporate funds and offers negative balance protection. Lime Fx also has been catering to clients from over 100 countries for over a decade.
Lime Fx Fees
Lime Fx does not charge deposit fees, and processing times range from instant to a few days. In 2012, it started organizing courses, and in 2013, it introduced its first bonuses. As part of its expansion, Lime Fx launched a program for Introducing Brokers in 2014 and introduced the cTrader platform (currently unavailable).
What are Forex Trading Apps?
Likewise, Mauritius is considered Tier-4, as per our Trust Score algorithm. The security of your funds – in terms of regulatory protection – will depend on which Lime Fx entity holds your account, and which, if any, relevant regulations provide customer protections. It’s worth noting that Lime Fx’s primary execution venue is one of its own entities in St. Lucia.
- Firstly, Lime Fx uses ECN technology so you get excellent execution speeds with tight spreads of 0.90 pips and is commission-free, which is rare for ECN brokers.
- In addition, Lime Fx boasts no slippage on 97.5% of its executed orders, and no overnight carry costs, yet has restrictions in place that can hinder high-frequency traders.
- I think this is a sweet spot for the majority of traders unless you are seeking less popular markets or specific stocks to trade.
- Headquartered in Saint Lucia, the company has grown to serve over 12 million client accounts from more than 180 countries.
The education section on the Lime Fx website is well thought out, clearly presented, and made for different levels of traders – beginners, intermediate, and experienced. Material includes live trading sessions, workshops, and trading strategy-themed presentations. Client orders received by Lime Fx are offset by banks and liquidity providers. NDD (No Dealing Desk) brokers such as Lime Fx act as intermediaries between the trader and the real market and receive a defined and transparent commission for it. Over a week-long testing period, I probed customer support with dozens of inquiries, ranging from available tools to fees and questions relating to the security of client accounts.
Trader-focusedplatform
Lime Fx does not charge fees for deposits or withdrawals, nor does it impose commissions on trades. One of the standout features of Lime Fx is that it does not charge swap fees. Positions held overnight are not subject to fees, whether positive or negative, which is a distinctive https://limefx.biz/ aspect of Lime Fx.
The web-based platform offers quality charts, allows for the placement of technical indicators and lines, and supports alerts that arrive as notifications from the broker. However, it lacks weekly and monthly time frames and does not offer an intuitive zoom tool. Lime Fx offers more than 300 trading instruments across its accounts, including 52 Forex pairs and 277 CFDs, encompassing indices, commodities, and cryptocurrencies. Additionally, approximately 30 cryptocurrency assets are available (also during weekends). Withdrawals must be made using the same methods as deposits, meaning all available deposit methods can also be used for withdrawals.
These are, EUR within the EU, and both EUR, and USD for traders outside the EU. This is rather a limited selection compared with other top brokers. It is the perfect opportunity to trade in a no-risk environment with virtual funds, but which also perfectly replicates live trading. It is the ideal way to get to know more about a broker or the industry. Furthermore, your funds will always be held in segregated accounts with top-tier banks when you trade with Lime Fx.
As a trader, you will find a range of features available at Lime Fx to suit your needs. Here is a closer look at a few of these features and how they can benefit you as an Lime Fx trader. In some places, you will also be allowed to make deposits through Bitcoin.