In the hands-on testing process, I used MetaTrader 5 for desktops, which includes advanced functions such as copy trading and automated trading. Lime Fx does not currently charge swap fees – the charge for holding leveraged positions overnight. In our tests for the Trust category, we also cover factors relating to stability and financial strength. Here, we focus on how long the broker has been in business, what is the company size, and how transparent the broker overall.
Platforms and Tools
- We’re also glad that you found our exchange rates favourable.Stay updated on our latest news and promotions by joining our social media platforms.
- It is great to see the broker supports clients with different religious beliefs although this is pretty standard nowadays.
- Having the ability to perform payment through visa or Mastercard with short processing time is helpful.
- You will also find an economic calendar built-in the MT5 platform which could be more convenient to access and save you the hassle of switching between tabs.
Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets. It’s been a great journey till now with exciting events and prizes Lime Fx offers on a regular basis.The amount of bonus I get for each deposit is exceptional! I once personally got a nice gift( Waist bag with Lime Fx logo) for the volume I traded on the platform.
When it comes to account types and minimum deposits, Lime FxFX wins again in my opinion. You can open a Micro Account with just a $100 deposit with Lime FxFX. Exness has a higher minimum deposit of $200, while FXTM requires a bigger investment of $500 minimum to open an account. This broker can be a good choice for you if you live within the EU and are satisfied with its limited selection of tradeable assets. It can also be a good choice if you are looking for a company that makes forex copy trading as easy as possible.
How do I withdraw money from Lime Fx?
In this in-depth Lime FxFX review, we’ll take you through our own experience of opening an account with Lime FxFX. We’ll cover everything from their trading platforms, deposit and withdrawal methods, fees and commissions, customer service, and regulation. Dear Sani Ali, Thank you for your kind words and for choosing Lime Fx as your trusted broker. At Lime Fx, we work closely with local payment providers to offer you convenient, secure, and reliable payment options.
ECN Execution Review
This section will cover how the different entities of Lime Fx are regulated and how this impacts you as a trader. We rate regulators on a scale of 1 to 3, with 1 reflecting the highest level of trust. Lime Fx has over 50 different payment options, such as Visa, Neteller, Fasapay and bitcoin, as well as a large variety of local bank transfers. The availability of these payment methods may also depend on your country of residence. Lime Fx is an up-and-coming broker that has been in operation for nearly 10 years. Its growth has enabled Lime Fx to continue to expand its products and services.
Their website promises trading on low spreads, fast execution, and reliable service. So we needed to take a closer look to see if Lime FxFX could be trusted or if they were just blowing smoke. This is quite a brave approach, and I see they have succeeded in achieving their goal.Indeed, only spreads are in the form of commissions on this platform. There is also no inactivity fee for dormant accounts or commission charges for deposits, withdrawals or currency exchange. Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker.
This is the commission fee charged by the Master (Signal Provider) whose trade you are copying, and it is up to the individual provider how much this fee will be. However please be aware that some fees may be applied in certain cases. The only exceptions here may be in the case of your deposit not matching the base currency on your account, you would then have to pay a conversion fee.
When it comes to base currencies, these too are limited to the EUR and USD only. This means you will have to pay a small conversion fee most likely if depositing a non-base currency. All three brokers have good global regulation – Lime FxFX is regulated in Cyprus, FXTM is regulated in Cyprus and Mauritius, and Exness is regulated in the UK. When comparing Lime FxFX to FXTM and Exness, there are a few key factors I looked at to determine which broker might be best for beginner traders. Now for experts who swear by the industry standard MetaTrader platform, Lime FxFX has you covered there too. They offer both MT4 and the newer MT5 for desktop and mobile.
Deposit Options And Fees
And I am pretty much amazed by the level of leverage Lime Fx has been offering recently. I expect Lime Fxfx to provide even better spread conditions and higher leverage for the assets available. Lime FxFX does not charge internal withdrawal fees, but traders may incur third-party payment processor costs, blockchain fees, and currency conversion charges. When determining if we could add funds to our account via a simple bank transfer, the customer support person in the live chat couldn’t verify that a bank transfer was an option. 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. And more than likely, it’s a no-go for wherever you may be located.
In terms of the time it takes, wire transfers can take 3-7 business days limefx broker reviews to complete, while the other deposit methods are all typically instant. Lime FxFX doesn’t charge traders any commission for holding an order overnight. Here you can benefit from the ICF insurance protections provided in the case of bankruptcy or insolvency. This physical office presence is still quite light compared with other major brokers, but Lime FxFX does offer trading worldwide.
All other clients will be using USD as the account currency, so if you are in the UK and prefer GBP as your account currency, you cannot choose it. You will also find trading available limefx with micro lots, mini lots, and standard lots with the spread variable or floating. We should also mention you shouldn’t get requotes or rejections since market execution rather than instant execution is used. While the above module takes the spreads from the broker’s website, we at CompareForexBrokers have done our own testing using 20 MT4 brokers to find out their average spreads. You can read about our findings in our Standard Spreads test results.
You can further benefit from one click trading, the ability to order directly from charts, and regular price alerts. The slight difference between ECN and DMA in terms of the liquidity provided is that the typical ECN brokers liquidity providers are not known. As a trader, you will find a range of features available at Lime FxFX to suit your needs. Here is a closer look at a few of these features and how they can benefit you as an Lime FxFX trader. Unlike most brokers, Lime FxFX does not charge any kind of inactivity fee.
Overall, there is a lot to like about Lime FxFX and the range of quality trading conditions that they provide. You get convenient access to the markets via powerful and fully customisable trading platforms with accounts to suit all types of trader. The trading costs are very competitive whilst customer support is prompt to answer questions. Trading instruments may perhaps be too limited for some although the forex offering is probably adequate for most forex trader needs. I think they can be worth consideration for anyone who is primarily looking to trade forex in a regulated environment backed by award winning customer support. 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.
Client funds are held in segregated accounts in accordance with international regulation standards. Keeping funds separate from the company funds means that they cannot access them for any other purpose. Lime FxFX offers negative balance protection, so if your balance becomes negative, they will automatically adjust it to zero. The risk management system ensures that clients cannot lose more than they initially invested as risk is limited only to the funds you have deposited into your account.
The platform can be accessed through Windows, Mac, iOS, or Android, and is an excellent and very well-respected trading platform among the community. Again the platform is available on all mediums and a webtrader is offered. MT5 is also equally lightweight and can run on almost any device.