However, outside of stocks CFDs and forex that we believe that Lime Fx is lacking somewhat, and sometimes significantly so. Despite this, MT4 is considered the industry benchmark for platforms and is very popular with retail clients, especially beginners. Brokers that are offering stock CFDs are now also pushing clients on to MT5 (an upgrade on MT4) as stocks are not available on MT4. Beginner traders who have done even minimal shopping around for brokers will by now have realised that the MT4 platform is available everywhere. Some of the bigger brokers will offer their proprietary platforms to trade on, whilst others will offer other third-party platforms for variety.
Stocks
It’s important to remember that the Lime Fx withdrawal method must correspond to the method used for deposits. This means if you deposit funds via wire transfer, your withdrawals will be processed back to the same bank account used for the deposit. The minimum deposit at Lime Fx is $5 for all account types, except from the Lime Fx Shares account which is $10,000. Moreover, Lime Fx ensures the security of clients’ personal data by employing encryption for data transmission.
An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. Customer support is one area where Lime Fx really will go the extra mile. Lime Fx claims to speak over 25 languages and customer support is available through all the usual channels.
- Some specialize in foreign exchange (forex) trading; while others focus on stocks, options, or other securities.
- Steven Hatzakis is the Global Director of Research for ForexBrokers.com.
- Previous incentives, available to global clients, have included a $30 no-deposit bonus.
- Some brokers will charge for additional withdrawals in a month, regardless of the method.
- However, we are underwhelmed by the lack of platform options at Lime Fx.
The website suggests that Lime Fx offers 1377 instruments, but the vast majority of these are stock CFDs. Compared to rival brokers, Lime Fx charges inactivity fees very quickly, however not as expensive as other brokers. If you hold a position overnight, you will incur financing charges. The charges will vary across different instruments and vary from day to day., determined by “tom-next rates”. Tom-next rates are determined by the money markets and are interest rate differentials between two currencies. The Micro account gives you all the same features as the Standard account, however, the equivalent contract size of trading 1 Lot is 100 times lower.
These requirements can change over time, and they may vary depending on your region and the type of account you’re opening. Lime Fx Broker provides the option to trade in a wide range of assets including precious metals, commodities, stocks, and energy products. When you have registered as an Lime Fx trader, you will get a dashboard to view all the instruments available on Lime Fx Broker. In exchange, there’s a volume-based fee of $7/lot round turn (which is in line with the industry standards).
Setting up the demo account is fast and easy, as you will need to provide Lime Fx with a username, an email address, and your country of residence to open it. Additionally, Lime Fx does not impose a minimum amount for withdrawals, and do not charge fees. Steven Hatzakis is the Global Director of Research for ForexBrokers.com.
There are raw spread accounts (Lime Fx Zero Account), accounts with low spread mark-ups (Lime Fx Ultra low), accounts with very low lot sizing (Lime Fx Micro), and more. We recommend the Micro account for beginners – it offers nano lots and access to a huge range of markets. The Standard account is a good option for a range of traders with a straightforward sign-up process and competitive trading conditions. We were particularly impressed with the Ultra Low/Zero account – this is best for traders looking for the tightest spreads with a low commission. Lime Fx is a good broker which can boast a wide array of tradable assets and everyone will find something interesting for trading new directions. For instance, there are turbo stocks and thematic indices for something new for me but mainly I trade on the forex market.
Margin call warning is a notification mechanism, to inform you that your trading account lacks the required equity to maintain trading positions. For their global approach, Lime Fx has ensured that traders from various countries could access their service easily. This results in the provision of different domains specified for traders in certain jurisdictions.
What platforms does Lime Fx offer?
The Lime Fx Micro account is tailored for traders who prefer to trade with smaller lot sizing. In addition to these measures, Lime Fx also offers Negative Balance Protection for European and Australian traders. This feature ensures that traders will not lose more money than they have deposited. Yes, Lime Fx is a good broker for many types of traders thanks to its flexibility and range of features. It is up to the individual trader to decide how comfortable they are trading with a dealing desk broker. There are 100 to choose from and are all major US, UK and German companies.
The minimum trade volume is 1 lot and the contract size is one share. Commissions are fees charged by a broker for processing transactions and trades. Commissions can be a fixed amount or a percentage of the value of a trade, depending on the broker.
Is Lime Fx regulated?
The disadvantages mainly come from additional issues that do not directly influence the quality of trading conditions, except maybe for the lack of customer support for the weekend. Since 2011, Lime Fx has been receiving a warm response from Southeast Asia (Malaysia, Singapore, including Indonesia). More than 1 million traders from all over the world have traded with Lime Fx brokerage, so it doesn’t come as a surprise if the company provides services in more than 20 languages.
Other than this, the features of Micro and Standard Accounts are generally the same. This guarantees that absolutely no requotes will be given thanks to Lime Fx’s efficient operation and time management. limefx scammers In Lime Fx Broker, traders can place a variety of order types, ranging from stops, trailing stops, market orders, and limits.
Deposit Methods
Across is Standard and Micro accounts, Lime Fx looks to make money on the trading spread rather than charge commissions. Whereas with the Zero account, there is no spread and instead ZM charges a commission on every trade. In all my time being a trader, this is the one broker that I can vouch for that doesn’t manipulate its charts and is honest with its operations. Not saying that there are no other honest brokers; I am only saying this is limefx scam one of the honest ones. The broker has about 10M traders using their platform, which says a lot about their honesty.
If a finance company under the CySEC jurisdiction fails then its clients are protected up to €20,000. This could be better if Lime Fx had Financial Conduct Authority (FCA) regulation then clients would be protected up to £85,000. However, €20,000 is the level of protection that EU clients receive. Lime Fx has also really put the effort in when it comes to Research and Education.
All brokers want you trading, and when a trading account lies dormant, they begin to incur inactivity charges on the account. These need to be measured by how long your account can lie dormant before being charged a fee and secondly how high the fee is. We believe that Lime Fx scores poorly on the length of the dormant period allowed, but scores well on cost. At Lime Fx there is a Demo Account facility that gives you a virtual balance of $100,000 to play around with and find your feet. The demo account has an unlimited duration, giving you all the time you need to get prepared for trading a real account. This is the final main account that you can open with Lime Fx and is a zero spread account.