Founded in 2011, Lime FxFX provide a fantastic selection of use-friendly yet powerful platforms for trading forex and CFD instruments with very competitive costs. You can choose from a decent variety of versatile account types, each designed specifically for different types of trader. The broker has some limefx scammers 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. MT4 is ideal for new traders and more experienced traders who require a simplistic yet sophisticated platform. It has an intuitive user-friendly interface that is easy to navigate and fully customisable.
Trading Fees
ForexBrokers.co.za is a broker comparison & education website for South Africans. We aim to help traders in South Africa find the best forex brokers. It has a very comprehensive charting package and several technical indicators.
What is the minimum deposit for Lime Fx?
Initial deposits are not too high and a variety of instruments for trading. The overall trading fees is quite low with all 3 accounts, plus they are also a CYSEC regulated broker. The fees at Lime Fx are moderate in comparison with other Forex brokers. Lime Fx has spreads only accounts for traders (no commission based accounts for FX traders).
For example, Lime Fx clients in the European Union benefit from the oversight of the Cyprus Securities and Exchange Commission (CySEC). CySEC requires that clients have negative balance protection, which means they cannot lose more than their deposit. Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets. Lime Fx offers the full MetaTrader suite, albeit with a fairly limited offering of tradeable instruments.
But their SA entity is not approved as an ODP (their local entity have not applied for ODP licensing). Lime Fx offers a swap-free Islamic account that adheres to the principles of Sharia law. The MetaTrader 5 Web Platform (Web Trader) is a slightly stripped-down version of the desktop platform.
The score for this category was weighed down because only one base currency is available (USD) and there is no option for a raw spreads account. The MetaTrader 5 mobile app also provides many order types, including pending and stop orders. However, trailing stop-loss orders are only available from the desktop. To change the language of the MT5 app, you must change the language for your entire phone. As with the desktop and web platforms, the interface is not highly intuitive, but the MT5 app offers an above-average range of features. Lime Fx offers the popular MetaTrader 4 and MetaTrader 5 platforms across desktop, web, and mobile.
- Lime FxFX is a multi-award-winning broker that provides traders across the globe access to trade Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies & CFDs.
- This is accessible to you on 5 weekdays for 24 hours through Live Chat, E-mail, and WhatsApp (texts only).
- Material includes live trading sessions, workshops, and trading strategy-themed presentations.
- They are all relatively easy to use but also capable of performing complex analysis and order management.
Lime Fx offers traders a range of content for research through the Traders’ Tools section. Customer Support is offered through Live Chat and E-mail from Monday to Friday for 24 hours. 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. 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.
Once users have gotten up to speed on a demo account, they can easily switch to a live version. In my tests, I received speedy responses—the same day for email and a wait of just a few seconds for live chat. Despite the lack of phone support, I rate Lime Fx as average in this category. Popular features such as 1-click trading, alerts, and watchlists are available. Traders can access all basic order types (market, limit, stop loss) via the platform. MT5 provides a greater number of technical indicators, timeframes, and graphical objects.
Why you can trust FX Empire
Step 7) Click on Deposit button and select your preferred payment method. Lime Fx Group is regulated with Tier 2 regulator CySEC – Cyprus Securities and Exchange Commission. One of their entities is also registered in South Africa regulated under FSCA.
How long does it take to withdraw money from an account at Lime Fx?
There are also daily and weekly forecasts that cover the financial markets in great detail. These market insights can help identify trading opportunities and assist with your market analysis. I feel that the platforms should have more than enough tools for most of you to get by. You can also find loads more of free and paid add-ons to further enhance their capabilities.
In the hands-on testing process, I used MetaTrader 5 for desktops, which includes advanced functions such as copy trading and automated trading. Trading costs such as spreads are clearly explained on the Spreads and Conditions page. To read the fine print, traders can find the Customer Agreement in the footer of the website. The About Us page does a good job of sharing the company’s mission and history through a series of milestones over the years. We performed our tests with a live account, using the MetaTrader 5 and Lime FxTrader platforms, opened with the Lime FxFX Saint Lucia entity (Lime Fx Markets Inc.).
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. Simply choose an account, choose the limefx trading application and access it via Lime FxFX Trading App Accounts. This lightning-fast application with an attractive and easy-to-use design will make everything straightforward from the first tap.
There’s no question – if Lime Fx wants to compete with the best MetaTrader brokers, it needs to make improvements in its range of products and its research and education. Lime Fx does have a proprietary app for social copy trading (the Lime Fx Copytrading app), yet it still trails behind industry leaders such as IG and Saxo. Check out my picks for the best mobile trading apps in the industry. Lime Fx has made great strides with its pricing options for traders and its educational content, but suffers from a limited range of tradeable instruments.
I think they could improve by adding support for more currencies as the different options are beneficial because conversion fees do not apply when using an account in your own currency. Secure SSL encryption helps make your information confidential and inaccessible to third parties. 3-D Secure technology adds an authentication step for protecting your online VISA/Mastercard payments. Lime FxFX offer a great choice of platforms for convenient access to the markets on all of your devices. You can choose from the MetaTrader 4 (MT4), MetaTrader 5 (MT5) and cTrader platforms. These are amongst the best trading platforms available for online trading that you will find anywhere.
You can trade through Lime Fx with any of the 3 trading platforms that the broker offers. You can either choose the floating spread that starts with 0.6 pips. With this account, Lime Fx does not charge you any commission on the trade, only fees is their spread. If you consider their GBP/USD spreads for example, it is on average 1.1 pips with MT4 & MT5 accounts. Comparably, this is moderately higher than the overall fees charged by Raw spread brokers (we calculated spreads + commission). There are no commissions charged by Lime Fx, and there is zero Swap (you don’t pay it nor do you get paid any positive swap).
