Withdrawals at LimeFx are also disappointing, with all methods besides cards and wire transfers incurring a percentage withdrawal fee that can reach a hefty 3.4%, depending on the method. Wire transfers incur a $30-$45 flat fee (minimum limit of $500), many times more than the $5 withdrawal fee at eToro. On the downside, LimeFx supports accounts in just a few currencies (USD, EUR, GBP), with USD only for wire transfers. As a comparison, Fusion Markets offers 10 deposit currencies, which can help prevent the need for often costly conversions.
Top Features
These findings are based on our first-hand experience trading at LimeFx and take into account the overall experience for day traders. To evaluate brokers, we test the accounts, trading tools and services provided. Over 100 data points are considered, from minimum deposits and trading fees to the platforms and apps available. Our broker ratings are also informed by the experience of our researchers during the evaluation process. LimeFx elevates mobile trading with the MT4 app on iPhone, iPad, and Android, perfect for day traders with its reliable, advanced charting featuring 30 indicators, 9 timeframes and 3 chart types. It’s incredibly easy to dive into trading on the MT4 app through an LimeFx account, with just 3 simple steps.
Is LimeFx A Good Broker For Day Trading?
This eliminates the potential for conflicts of interest or price mark-ups, making this broker pretty reliable when it comes to trade execution. We offer impartial reviews of online brokers that are hand-written, edited and fact-checked by our research team, which spends thousands of hours each year assessing trading platforms. That’s a key factor for me and that’s why I decided to join them and I can say since the moment I started trading through this broker I didn’t have any problems. LimeFx works very well for intermediate and advanced forex day traders seeking high leverage and tight spreads from a ‘frill-free’ broker. Accessing the MT4 app through an LimeFx account is also straightforward, requiring only 3 easy steps, while mobile traders get the same tight spreads and reliable execution provided by the broker.
I am not sure that this broker the most…
With LimeFx, traders will find a selection of Forex tools that they can use, including Forex calculators, live quotes, market hours, current trading positions, interest rates, and roll call. These tools provide insight into trading Forex, keeping traders up to date with the latest trends. MT4, which has helpful tools like flexible trading systems, wide technical analyses, and algorithmic and mobile trading, is offered for PC, tablet, and smartphone users. LimeFx is a low-cost brokerage with no commissions and spreads that are generally competitive, especially on currency pairs. However, traders seeking stocks or deep education and market research will need to look elsewhere. Also, the offshore regulation for non-EU traders and expensive withdrawal fees are notable drawbacks.
Customer Support
LimeFx does not have a proprietary mobile app, though MT4 can be downloaded to Android and Apple devices. The mobile application has proven to be stable and reliable during testing. Spreads are slightly higher on alternative products, while the withdrawal fee and inactivity penalty lower its fee rating somewhat.
LimeFx has been around for more than a decade, and that experience in the industry has made it a well-liked broker. The educational tools offered, dedicated customer service, and zero commissions fees are all major bonuses. Though LimeFx provides only one account type and one platform, scammed by limefx the ECN XL is a pretty strong offering that will work for traders of all experience levels. In this LimeFx review, we examine the broker across key categories, including its accounts and fees, trading platforms, and customer support, to find out how it competes with alternatives.
- This means that clients of LimeFx’s offshore branch won’t get the same level of protection and won’t have access to compensation schemes or trusted regulators if things go sour.
- 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.
- I only really missed having PayPal available since this industry leader is one of the most widely used e-wallets and is accepted by rivals, including XTB and IG.
- LimeFx’s limited research and technical analysis tools are disappointing, especially given how useful these tools can be for discovering trading opportunities.
- It goes against our guidelines to offer incentives for reviews.
There is much written about the ECN XL account they have crafted and its reputation as one of the best account types is well deserved. This had bringed me to LimeFx in the first place.Yesterday I registered an account on this platform and I was surprised that even a deposit bonus is available. It can be a great boost, especially for traders like me with limited funds.
As aforementioned, there are no commission or deposit fees required with this broker. As far as investor features go, traders will find a lot offered, including a wide range of products, the MetaTrader 4 platform, Forex tools, and Forex offers. ECN spreads come in as low as 0.0 pips during peak trading hours, while it supports a wider range of currency pairs than the majority of rivals with over 70 forex assets. Additionally, you have access to MT4, which was built specifically for forex trading and excels for its charting tools. In addition to the aforementioned Forex ECN XL trading account, LimeFx also offers a VPS and depending on regulation – deposit bonus. Clients can trade using a Virtual Private Server, which LimeFx says can give them three main advantages, including accessibility, security, and speed.
Ordinarily, we prefer to see a choice between a commission-free account (geared towards beginners) and one with raw spreads and low commissions (geared towards advanced traders). However, LimeFx has outdone many competitors by offering the kind of tight spreads you’d expect from ECN accounts without charging a commission. There are a few features that indicate that LimeFx is a good broker for beginning or new traders.
Positives are the no minimum deposit, free demo account and excellent support, however it lacks the educational tools or social trading features provided by category leaders like eToro. This broker has a lot to offer its traders, including optimal conditions, educational tools, and the use of the MetaTrader 4 platform. LimeFx provides competitive forex spreads and transparent pricing, and this https://limefx.name/ No Dealing Desk broker also allows any type of trade strategy (a feature that is discussed a few sections below). While they could make some more account options, the only account available fits all kinds of trading strategies.. It is worth mentioning that they don’t charge trading fees,, which is rare for an ECN account.The only platform available for trading is MT4, keep this in mind.
