The broker doesn’t take the other side of trades, which differentiates it from Dealing Desk brokers. Client orders, stops, limits, and trades are executed with counter-parties, meaning LimeFx is firmly on the client’s side. It maintains sufficient capital reserves, segregates client deposits from corporate funds, offers negative balance protection, and undergoes audits. LimeFx supports bank wires, including several local options, credit/debit cards, UnionPay, Neteller, and Skrill. Traders can access the processing times and minimum/maximum deposits by clicking on the + next to each option.
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- It creates unrealistic trading expectations, and the absence of trading psychology negates the educational value.
- The trader has to submit to proper risk management to effectively utilize the broker’s capital (leverage) to his or her benefit by doing the following.
- Trading with leverage has the first and most important benefit of earning more money for less work.
- This feature indicates that LimeFx is perfectly fine with teaching new traders the ropes.
I rank trading costs among the most defining aspects when evaluating an exchange, as they directly impact profitability. LimeFx offers traders a competitive commission-free trading environment. https://limefx.name/ The EUR/USD spread ranges between 0.0 pips and 0.3 pips, with occasional spikes during the market news and trading session breaks, which LimeFx transparently displays on its website.
LimeFx Verdict
Similarly, the ‘Market Analysis’ section had a focus on just three currency pairs during testing which is not wide enough in my opinion. However, this is still a powerful platform that will provide everything needed for experienced traders to conduct technical analysis while also being intuitive enough for beginners to pick up easily. This is low compared to many brokers, but it’s still a downside since rivals like Vantage charge nothing, making them a better fit for casual traders. In our experience, the 0.2-pip average spread on EUR/USD is far tighter than most commission-free accounts, which regularly charge 1 pip or more for this major pair.
Trading App
Many brokers use special offers to entice new customers to sign up, such as a no deposit bonus. LimeFx is no exception to this and offers new clients a 100% deposit match bonus of up to $2,000 on their first deposit following registration. This account features a hybrid ECN/STP execution system to provide zero commission trading while maintaining competitive spreads.
Advanced Risk Management
There are a few features that indicate that LimeFx is a good broker for beginning or new traders. Discussed individually below, these features include educational tools, customer support, and client monetary protection. New traders have access to fourteen quality educational posts plus a dedicated section on major economic reports. Eleven eBooks complete the education at LimeFx, and the overall product remains impressive. Five MT4 user guides and a Forex glossary section are also available.
LimeFx shows clients how to obtain the most up-to-date rates, a step many brokers omit. The basic idea of leveraging in forex trading is that; retail traders’ funds are too small to partake in the buying and selling of financial assets or forex pairs. Therefore the broker provides leverage by lending its trading capital to traders in the form of varying leverage ratios as a means to enhance its trader buying and selling capacity. LimeFx is a reputable, high-leverage broker with forex, index, commodity and crypto CFDs available through the MT4 trading platform. Moreover, the firm combines ECN and STP execution models to provide a low spread, zero commission investment experience.
Leverage magnifies the returns from favourable movements in a currency’s exchange rate. Forex traders must learn to manage this force and employ risk management strategies to mitigate potential forex losses. LimeFx provides assistance to trading clients via its 24 hour Monday through Friday multilingual customer limefx review support service that features dedicated account managers. The broker also has a live chat service and an online form you can fill out, as well as a support email address, fax and phone number. In addition, LimeFx maintains active social media profiles on Facebook, Twitter, LinkedIn and other networks.