Experienced traders will appreciate the tight spreads, access to MT4 and a VPS, plus zero strategy restrictions. During testing, we have been impressed with the ECN pricing that offers spreads from 0.0 pips, while the 70+ currency pairs provide better market coverage than most alternatives. 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.
The Ultimate Trading Solution
New traders can benefit from demo trading and the carefully designed FOREX.com educational platform. Modern online trading platforms are fast and efficient, providing you with the market analysis and charting information you need to make informed investment decisions. In this broker comparison, Benzinga will review two popular foreign exchange (forex) trading platforms. The MetaTrader 4 Multi Terminal is a component of the MT4 package that was designed to enable money managers and professional forex traders to handle many forex trading accounts at the same time. Any trader who is familiar with MT4 will feel right at home with the user interface on the MT4 Multi Terminal. The broker that provides you with a competitive online trading environment and the required resources to help you get the best out of your trading.
Non-Trading Fees
Applications for Corporate trading accounts should be submitted when a Legal or Registered Corporation intends to open an account. On the Corporate Account Application form, you will find areas specially designed for assigning an Authorized Representative(s), to trade, deposit or withdraw on behalf of the applicant. The broker can accept clients from most countries but does not provide services for United States residents and/or citizens. If you reside in the USA, you can take a look at some other options from our best USA brokers. ForexBrokersOnline.com is committed to helping traders find the right forex broker for their specific requirements. LimeFx could offer more in terms of trading tools and reduce or eliminate its withdrawal fees, but these are minor complaints.
Take Control of Your Trades
These cost-saving features, combined with the 24/5 customer service, make “user experience” high on the LimeFx priority list. 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. For the die-hard currency trader, the FOREX.com app offers 80-plus currency pairs. Traders can use MT4, MT5 or the FOREX.com proprietary web-based or desktop trading app.
Unique Features
Novice traders should have little difficulty finding online assistance about how to operate the MT4 platform and use it to their advantage. LimeFx is an ECN broker and only maintains one ECN account for all clients. It is unique as traders get a commission-free cost structure with raw spreads, an unusual offer, presenting Forex traders with a notable edge.
Is LimeFx A Good Or Bad Forex Broker?
LimeFx is an excellent low-cost choice for beginners due to its decent range of educational resources and free demo account – a great way to build up experience before trading with real capital. The $0 minimum deposit also makes the forex broker accessible for new traders. You can even get a VPS service for free to keep your automatic trading bots running smoothly if your own Internet is spotty. The broker supports the popular MetaTrader 4 trading platform with multiple terminal capabilities and a multi-account manager.
- FOREX.com is one of the best forex trading platforms and LimeFx has a broad range of assets you can choose from.
- Traders can also join live, free-to-watch webinars aimed at various skill levels.
- The company offers a 100% bonus on investor deposits of up to $2,000.
User Experience
EEA-based traders manage their portfolios from a subsidiary that is authorized by the Cyprus Securities and Exchange Commission (CySEC). The Cyprus Investor Compensation Fund (ICF) protects retail trades in the event of insolvency up to €20,000. Client deposits remain segregated from corporate funds at both entities with leading international banks, but LimeFx does not list them. Clients can find the provision in the Investment Services General Conditions PDF.
You can also access the LimeFx MT4 platforms on Android and iOS smartphones and tablets. LimeFx employs an electronic communications network/straight-through processing (ECN/STP) model, so you get tight forex dealing spreads from top Interbank liquidity providers. Clients have access to the full suite of the out-of-the-box MT4 trading platform. It fully supports automated limefx trading and is one of the most versatile trading platforms available. MT4 upgrades are available through third-parties for an additional fee to (potentially) enhance the trading experience. One significant advantage is that LimeFx offers a more in-depth introduction to MT4, which many brokers fail to do, and which can truly set traders up for longer-term success.
LimeFx is a low-cost brokerage with no commissions and spreads that are generally competitive, especially on currency pairs. LimeFx is good for day trading thanks to its very tight spreads in the ECN account, leverage trading opportunities, and access to the fast and dependable MetaTrader 4 platform. This app comes equipped with sophisticated charting tools, including 30 technical indicators, 9 different timeframes, and 3 varieties of charts, ensuring a comprehensive trading experience. LimeFx’s investment offering is excellent for forex traders but weak in other departments. You can trade a dozen major indices, including the Dow Jones, NASDAQ and S&P 500 with competitive spreads at LimeFx.
Depending on the scope of your trading and the assets you plan on trading, LimeFx might not meet your needs. This is especially true if you plan on trading physical cryptocurrencies or any of the commodities traded through CFDs. Quotes remain sourced from multiple liquidity providers and matched for the best possible execution. Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights, in the ECN XL account. Above all, our experts assess whether a broker is trustworthy, taking into account their regulatory credentials, account safeguards, and reputation in the industry. If you have experience trading with LimeFx please share your personal review of the broker and what you think are strong and weak points.
However, the selection falls short of the comprehensive educational offering available from best-in-class brokers like eToro, limiting the brokerage’s appeal to beginners. However, this is still a powerful platform that will provide everything needed for experienced traders https://limefx.group/ to conduct technical analysis while also being intuitive enough for beginners to pick up easily. 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.
Customer support is available 24/5 via e-mail, webform, phone, fax, and live chat. The FAQ section answers many of the most common questions, and LimeFx is transparent about its products and services. Most traders are unlikely to require additional assistance unless of an emergency. LimeFx provides clients with daily technical analysis for the EUR/USD, GBP/USD, and USD/JPY.
Though LimeFx provides only one account type and one platform, 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. These findings are based on our first-hand experience trading at LimeFx and take into account the overall experience for day traders.
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. According to LimeFx, many of the procedures the broker has adopted “go beyond” the basic rules and regulations imposed upon it in various countries. The broker monitors all financial requests, making sure that they are safe.