Many brokers offer a swap-free account and while we are not experts in sharia law, we suspect they may not be truly sharia compliant. This is because the swap has been replaced with a periodic administration https://limefx.biz/ fee meaning you receive a charge every certain number of days you hold your position open. There is one very interesting feature with both these accounts and it’s not something we have exactly seen before.
MetaTrader 5 Web platform
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. But, it must be said that depositing funds and holding your capital with LimeFxFX is definitely a higher risk than trading with other, more regulated brokers. Saint Lucia allows companies to self-regulate as long as they comply with the country’s laws. This means clients with LimeFxMarkets don’t have any form of regulatory protection so you can only trust LimeFxFX operations meet the standards you would hope.
Fits your trading style
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). LimeFx offers the full MetaTrader suite, albeit with a fairly limited offering of tradeable instruments. There’s no question – if LimeFx wants to compete with the best MetaTrader brokers, it needs to make improvements in its range of products and its research and education. Use the LimeFx economic calendar to find an upcoming news release and analyse how it might affect the price of a certain asset. You can also wait until the actual data hits and open your order based on how the market usually reacts to such info.
deposit bonus
Apart from that, LimeFxFX 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. LimeFxFX allows you to trade on one of three different trading platforms. MetaTrader 4 (MT4), MetaTrader 5 (MT5), and LimeFxTrader, an in-house white-label program. The broker is regulated by Cyprus’ CySEC (Cyprus Securities and Exchange Commission), which means it can offer trading services to all clients in the EU. CySEC must comply with the same requirement set by ESMA (the financial body for the EU) that all financial regulators within the EU borders must follow.
Does LimeFxFX have a withdrawal fee?
At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here). 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. Features like its trading glossary, platform tutorials, and dozens of Frequently Asked Questions (FAQs) help to flesh out LimeFx’s educational offering.
I appreciated that it has begun producing videos on advanced topics, such as Elliot Wave trading. MetaTrader 5, or MT5, is a next-gen multi-asset trading platform that will replace MT4 in the very near future. Its back-testing functions are not only faster than those of MT4, but it also allows simultaneous multi-pair testing. We measure success by the cost-effective trading conditions we provide and by success stories our traders share.
LimeFx trading app
To maximise your profits, learn about trading sessions and adjust your orders accordingly. Use trading bots for market analysis and risk management without any limitations. Test your bot on a free demo account, adjust it to your investment goals, and then put it into action.
- LimeFxFX is also registered as a company in Saint Lucia, and its trading name is LimeFxMarkets.
- 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.
- The account works like a live account, except that it allows you to trade with virtual money rather than real money.
- By comparison, industry leaders Saxo, IG, and CMC Markets all offer over 10,000 tradeable instruments.
- The main appeal of this broker is that you can use it if you want unlimited swap-free trading.
- This schedule shows the actual trading time for every asset offered by LimeFx.
Regarding education, there are platform tutorial videos and a basic forex trading course, which would probably be okay for absolute newbie traders. Further researching the deposit options, we concluded that bank transfers and credit cards were entirely off the table for Australian traders trying to get funds into their accounts. The most popular of the three platforms is MT4, the industry-standard workhorse that more or less every retail broker offers. With LimeFxFX, you have access to most of the major trading instruments. We can tell you that LimeFxFX 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. They also claim to have highly skilled security engineers and technical specialists to ensure your data is safe.
Our in-house spread scanning software gave us an idea of how LimeFxFX spreads compare to other brokers. To do this, we take the average spreads brokers publish on their website and compare them with the spreads LimeFxFX public on their website. For example, the “minimum expertise” field lets you choose between newer systems, all the way up to those with legend status. I was also pleased to see a risk score assigned to each trader, to help users differentiate between traders with historically conservative results versus those that have had more volatility and risk.
There’s an economic calendar and regular news updates, which could be useful if you must keep up to date with the latest fundamentals. Their live chat team is mostly based in St Lucia or Cyprus and is 24/7. The customer service reps seemed not to be trained to handle very basic questions, so we imagine if you have a complex inquiry, you will be pulling your hair out. It is a similar story for credit card deposits, which seemed only to be available for certain countries, VISA for example appears only available for clients in the EU – very odd. LimeFxFX only has a spread-only account, meaning no commissions are charged in addition to the spread. Read our full explanation and accounting of our research and testing process to learn more about how we test.
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. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.
The main advantage of this platform is easier sign up and less hassle when making deposits and withdrawals. LimeFxFX also offers the chance to trade energy products like Texas Crude, Brent Crude, and Natural Gas. Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site.
The global currency market is divided into four major trading sessions. They slightly overlap, allowing you to trade most major and minor Forex pairs almost 24/5, with just a brief recess. Space is a unique live feed designed by LimeFx to get you fresh trading ideas right in the LimeFxTrader trading platform. Learn about the current trends for different pairs from the LimeFx experts and open orders on the same screen to save time and effort.
That being said, there isn’t much educational content for learning how to trade or understand market dynamics. It’s worth mentioning that the broker does have a blog and a YouTube channel, yet I was still left wanting more. The Strategy Tester helps to test the performance of trading robots and find the best input parameters before executing EAs on real accounts. The entire process is based on the historical quotes of currencies and other financial products, for which there are several testing modes.
Becoming regulated in more jurisdictions – especially in Tier-1 jurisdictions – will go a long way towards building trust with existing and prospective customers. LimeFx does have a proprietary app limefx company reviews for social copy trading (the LimeFx Copytrading app), yet it still trails behind industry leaders such as IG and Saxo. This schedule shows the actual trading time for every asset offered by LimeFx.
Compare the platforms’ features to find the one that is right for you. We’ve created and keep improving LimeFxTrader to help you earn more efficiently. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.