These numbers may be deceiving, given the broad variety of accounts, fees, and routing choices. Spreads drop significantly on major Forex pairs between Micro and VIP tiers but minor pairs show no variation. In addition, tiers apply only to forex, with all account types paying similar spreads and/or commissions when trading CFD or spot instruments.
The Forex Market
Lime Fx received numerous awards for various aspects of its competitive trading environment. However it’s important to note that this review focuses specifically on Lime Fx offered by Notesco Limited and registered in Bermuda. The US economy added 235k jobs in February data showed on Friday, more than the consensus for 190k, and a number consistent with further tightening in the labor market.
- They operate a counterparty dealing desk, raising conflict of interest issues, but offer direct interbank trading access in some account types.
- Client funds are segregated from company funds, reducing the potential for misuse.
- Our editors independently research and recommend the best products and services.
- The secure Lime Fx back office handles all financial transactions for verified clients.
- Pricing for Forex, spot, and CFD instruments is average-to-competitive, with significantly lower costs at higher account tiers.
MT4 Standard
There are no internal deposit or withdrawal fees, except for traders who request a withdrawal without placing a trade, which carries a 3% fee. Traders can open an Lime Fx account via the online application form, which follows well-established industry standards. It asks for name, e-mail, phone number, country of residence and knowledge and experience. The application also asks traders to select their account type, base currency, followed by the desired password for the back office.
Opening an Account
Professionals trading their own accounts may wish to look elsewhere, despite tiered pricing, due to the lack of volume discounts or a proprietary high-end trading platform. The list of Forex, spot, and CFD trading instruments is well-constructed but some rivals offer more comprehensive listings. Pricing for Forex, spot, and CFD instruments is average-to-competitive, with significantly lower costs at higher account tiers. There’s no bond CFD coverage but spot, metals, and index products cover the most popular instruments worldwide. And Ireland clients can also place spread bets, although the costs are not fully disclosed. The broker’s account diversity is impressive, with a tiered structure that includes floating vs. fixed and commission vs. no commission fee schedules.
Is Lime Fx a good broker?
Lime Fx gives clients access to trading contracts for difference (CFDs) on a wide range of asset classes including forex, commodities, spot metals, spot indices, futures and shares. The online broker offers several different account types and trading platforms, as well as a blog, research material and educational resources. Lime Fx also offers social trading via its AutoTrade platform and keeps segregated accounts for traders. The broker is also holding the Iron Worlds Championship, a trading competition with a $1,000,000 prize pool.
This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality https://limefx.group/ and length of the broker’s track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information. While Lime Fx offers sizable first deposit bonuses, that bonus money cannot be withdrawn.
I rank trading costs among the most defining aspects when evaluating a broker, as they directly impact profitability. Low trading fees and quality education for beginners from an industry leader. This platform has most of the features of the MT4 desktop software, and it works on both Android and iOS mobile devices and tablets. While Metatrader 4 and 5 are a bit outdated with some clunkiness, they provide reliability and vast functionality that frequent traders need.
Lime Fx lists no expiry times, which is great, as all demo traders require unlimited access. While I recommend the Absolute Zero account for traders, the Demo Floating Spread offers the most realistic demo trading environment. Lime Fx notes the availability of 80+ currency pairs, making it an ideal Forex broker. Traders also get 15+ commodity CFDs, 20+ index CFDs, 30+ futures, and 150+ equity CFDs. I find the well-balanced asset selection suitable for most retail Forex and equity traders requiring fewer but highly liquid trading instruments, like day traders.
Finally, the fine print advises that spreads widen significantly during volatile and off-market periods, even with fixed spread accounts. Trading with a regulated broker will limit the potential for fraud and malpractice. I always recommend traders check for regulation and verify it with the regulator by checking the provided license with their database. The Lime Fx group presents clients with two regulated trading entities and maintains a secure trading environment. The forex market is unique because forex trading does not take place on exchanges but directly in an over-the-counter (OTC) market. This means that all transactions take place online between traders worldwide instead of via a centralised exchange.
The Lime Fx trading platforms are designed to facilitate a practical, powerful and efficient trading experience. Bespoke technologies empower our clients to trade with precision, without slippage and re-quotes. With respect to customer service, the broker provides decent contact options and support in 45 languages, which could be a plus.
Client funds are segregated from company funds, reducing the potential for misuse. They operate a counterparty dealing desk, raising conflict of interest issues, but offer direct interbank trading access in some account types. They provide no guaranteed stop-losses but negative balance protection is now mandated under ESMA rules. Secondary security features are unimpressive, with standard encryption at the website and no two-tier platform authentication beyond Metatrader’s one-time passwords (OTP). CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
The FAQ section answers the most common question, and live chat is available with fast response times for basic questions. The most ignored trading costs are swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders limefx reviews check them before evaluating the total trading costs. Notesco Limited is registered in Bermuda with registration number and registered address of Nineteen, Second Floor #19 Queen Street, Hamilton HM 11, Bermuda. The group also includes CIFOI Limited with registered office at 28 Irish Town, GX11 1AA, Gibraltar.
