Its own trading platform offers a host of features for seasoned developers and a lot of opportunities for automation. The platform offers the trader access to over 90 individual indicators and the ability to add more to a currency chart with just a click. Traders can https://limefx.biz/ even add multiple indicators to a single chart to create highly detailed and informed views. This allows investors to make the most out of technical analysis to inform their position. LimeFX has established itself as a major player in the FX trading landscape.
Traders can open an account with 100 of their finest units of the account currency. Traders in the UK can go ahead and trade the ever unsettled cryptocurrency; South Korea announced that it would work towards institutional acceptance of cryptocurrencies. Your quickest and best option is phone support for more detailed questions, but this can also be a little slow during peak market hours. Traders can benefit from joining the Active Trader program, and is available to those with $25,000 or more in an account or those making $50 million trades per month.
One of the greatest things in LimeFX is its trading market range, as being a huge financial institution client getting some of the best available proposals. Many forex traders use fundamental analysis tools to inform their trades. LimeFX’s brokerage platform includes an organized and comprehensive news feed that is customizable to focus on your favorite currency pairs.
Things I don’t like about LimeFX
You need to deposit a minimum of $50 via credit card or debit card or wire transfer. LimeFX is a highly regulated and licensed online broker that outclasses other brokers on many grounds. Staying up to date with the latest market events is a key to success in trading. We explored its comprehensive news feed and found that it covers news stories on market analysis from several sources such as Reuters. Having said that, we advise you to trade with caution to avoid incurring heavy losses in funds.
So how did we approach the problem of making their fees clear and comparable? We compare brokers by calculating all the fees of a typical trade for selected products. Customer service is available and adequate, though substandard website maintenance speaks to a lack of attention to detail.
It is ideal to use a payment option separate from the bank or credit/debit card used for day-to-day financial operations. Traders should select the payment processor with the lowest fees. Traders should read through the FAQ section before reaching out to a customer service representative. The Active Trader Program lowers commission to a minimum of $4.25.
If you are looking for the best broker, reading these reviews will help you do it. Brokers are sorted according to the number of reviews they have received from traders. Also as the name implies here, traders using this type of accounts have direct access to only the Forex market, using only the Webtrader developed by LimeFX.
- The company was founded in 2001 and is owned by StoneX Group, a highly reputable financial services company.
- The LimeFX trading layout is certainly not the casual type with a simple chart and a few options.
- You can trust this experienced broker with your hard-earned savings as it’s regulated by the FCA and the US Commodity Futures Trading Commission .
You may be able to access spreads as low as 0.2 in a Commission account, while minimum spreads in Standard accounts are around the 1.0 mark, depending on the currency pair. Most stock traders will be familiar with a commission structure, and comparing dealing spreads is a common way to assess pricing among forex brokers. For advanced forex trading, you’ll appreciate Interactive Brokers’ educational resources and advanced trading platforms that’ll help you get a much-needed edge. Forest Park FX’s experienced staff of industry professionals has compiled in-depth reviews of the world’s top Forex brokers to help FX traders make informed decisions when choosing a Forex broker. Read our reviews to learn more about these brokers, their trading platforms, spreads, regulation, and more.
In addition, every broker we surveyed was required to fill out a 320-point survey about all aspects of their platform that we used in our testing. Many of the online brokers we evaluated provided us with in-person demonstrations of their platforms at our offices. LimeFX offers negative balance protection, which is mandated under ESMA rules that went into effect in 2018, and guaranteed stop losses at an additional cost for its U.K./E.U. Client funds are kept segregated from the funds of LimeFX, which helps safeguard clients’ money in the event the company has financial issues. Clients also have additional asset protection through the Financial Services Compensation Scheme , up to £85,000, while Canadian clients are protected by the Canadian Investor Protection Fund. U.S. clients are not as fortunate, as no additional insurance is provided by the company in terms of safeguarding their funds.
The beginner trader program covers eight in-depth themes to help get started. All of these educational materials are offered for free on its website, and are accessible even without an account. LimeFX does not charge a fee, but instead charges a spread or commission based on trading volume. Pricing is transparent, and the live spreads are on LimeFX.
Why LimeFX Over Others?
These rules likely resulted from the SNB event of January 15, 2015 that roiled the markets, especially the highly leveraged retail FX market. Once you’ve chosen a suitable forex broker, next is depositing funds into your trading account. Fortunately, most forex brokers are flexible in terms of payment and will accept debit card payments, wire transfers, or electronic payments like PayPal or Skrill. In this article, we’ll take an in-depth look at some of the leading forex trading platforms, paying close attention to their features, pros, and cons.
The options available on the mobile are quite the same as what a trader can find on the desktop version of the LimeFX website, the same services, offerings, and charts of the web trader. The minimum deposit required here is $1,000 in order to start trading in the commission account. LimeFX traders do not face any lack of financial markets instruments, since there are more than 4500 tradable assets. Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors.
Traders with a STP (Straight-Through-Processing) Pro account are charged variable spreads as low as 0.1 on most major currency pairs, with no commission. scammed by limefx The low variable spreads start at $60 per million dollars traded. A minimum deposit of $25,000 is required, along with a minimum trade size of $100,000.
FORELimeFXr PRO presents advanced charting features, permitting traders to trade directly from the graph they are researching, by a click of the mouse. This helps to alter orders and manage trades at extraordinary speed, moving with the current market. Ensured stop losses are provided like other forex brokers with guaranteed stop loss, however, at a cost.
Our NFA-registered Forex Specialists will be happy to assist you with reviewing any trades you feel have been unfairly closed. Used to be decent, but now stop hunted regularly at more than 3x the spread when retail positioning is the other direction and CVIX is little to none?? They take the other side of each trade, when you stop out THEY profit –SNEX shareholders like it that way.
Leverage and margin trading are more preferably used by traders to increase their profits. Considering the slow price movements, LimeFX allows traders to use these features to find potential LimeFX opportunities and make meaningful trades. The website of LimeFX has a margin calculator that traders can refer to choose the best leverage and margin requirements based on their location, account type, and activity.
The company now has different trading names and subsidiaries in multiple countries and is regulated by relevant authorities in the UK, US, Canada, Japan, and Australia. Withdrawal is easy and it is just by requesting a withdrawal from ‘MyAccount’ and the request will be processed. Depositing limefx official site funds to your account is easy and you can use four ways to achieve this. These are through debit card, wire transfer, eCheck, and Check. Depositing is hassle-free and can take a maximum of only two days to reflect. Advanced charting tools that help in the quick analysis of trades executed.
- The newly redesigned app has all the features that would be expected from a major brokerage like LimeFX.
- For instance, you can compare LimeFX fees with its peer FBS.
- Moreover, traders can select from over 50 currency sets, CFDs in 10 global commodities and indices.
However, the latter two have commissions of $50 and $60 per million added to the displayed spread. Regions outside the U.S. also offer Direct Market Access accounts for larger account sizes (25,000+). The DMA account offers no markup on spreads, but a commission is charged. LimeFX does not offer “negative balance protection” for U.S. clients. This means that U.S. traders with negative account balances are on the hook for more money than they initially deposited into their accounts. Clients “negative balance protection,” as mandated by ESMA, and guaranteed stop loss orders , which protects against market gap risk.
These tools can help you have better insights into the markets and make better decisions. LimeFX offers several order types, which include market, limit, stop, OCO, trailing stop, and a few more. You can also set alerts, put in a specific order price and quantity, and enable hedging. The alert function lets you know when the asset or the pair has reached the desired price or target, allowing you to take action quickly. Our assessment of these courses confirms that it is the best tool for both beginners and professionals to gain confidence in trading.
- From a core trading cost perspective, LimeFX delivers across the board, but trading costs without volume-based rebates are moderately higher versus competitors.
- Provision of an excess of 80 technical indicators and trading tools.
- In conclusion, this is among the best forex trading platforms that I have come across.
- You can personalize the platform to fit your trading strategies and access it from your home computer, laptop, or mobile phone.
U.S. wire transfers under $10,000 incur a $25 fee, and all other wire transfers are $40. Create a fully functional demo account to test the platform out before investing. LimeFX is regulated by the relevant authorities in the US, UK, Japan, Australia, Singapore, and the Cayman Islands. The products offered are subject to change according to the laws of each country. LimeFX belongs to the parent company GAIN Capital holdings that were founded in 1999 and are listed on the NYSE under GCAP.
Other remarkable features of the app are integrated fund and risk management options, and trade alerts. There are mainly three ways to own an account with LimeFX, including individual, joint, and corporate. Based on their pricing and availability with the platform, there are three account types to choose from.
This account doesn’t mark up spreads, but is commission based and is available to traders in the U.S. as well as other jurisdictions. There is no negative balance protection offered by the company. The company does automatically monitor client’s accounts and if there is not enough margin in an account, the firm will automatically liquidate positions.