Also, the broker charges a sizeable 3% of deposited funds when withdrawals are requested during periods of inactivity. LimeFX could be a good starting broker for new and intermediate retail traders, limefx scam although more professional traders might look for a broker with additional research resources and assets. LimeFX supports mobile trading via the MetaTrader 4 (MT4) mobile app. This platform has most of the features of the MT4 desktop software, and it works on both Android and iOS mobile devices and tablets. I have been working on the Premium account since early September and have had no troubles with it. I decided to try this broker recently and I was impressed by the account options.
Popular Forex Reviews
Some regulators mandate compliance with the strictest financial frameworks, whereas others are less rigid. That is why traders need to familiarize themselves with the safety mechanisms ensured by the entity they want to open an account with beforehand. Although LimeFX lacks a proprietary trading platform and its Bermuda-based entity operates without regulation, I rate LimeFX as a decent broker that caters limefx website to the needs of its clients. 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.
- Going beyond daily operations, they engage with local communities, assisting in medical research and education.
- You have your watchlists, indicators, and other tools on the left side of the window, a chart screen on the right, and account info at the bottom.
- Keep in mind that the bonus you received when you opened your account is removed when you make a withdrawal.
- The agents are generally knowledgeable though they seem to struggle when communicating more complex information in English.
This is another area in which the broker really excels in my opinion. You will find that they have an excellent variety of convenient deposit and withdrawal methods to meet everyone’s needs. Some clients may find the online payment processors more convenient and faster. I personally use digital wallets as they allow me to move my funds around faster. This can be vital if there is a scenario where there is some major market news that I need to try and capitalise on.
Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. Many years of experience within the trading industry has made LimeFX experts at delivering flexible, bespoke and multifaceted trading platforms. Through exceeding client’s expectations and setting the bar so high, the broker has been rewarded with numerous awards for their innovative and advanced trading platforms. Moreover, we appreciate that the broker has a really great choice of educational tools for new traders. It includes useful videos, a glossary with the most needed words, and a lot of eBooks.
Which platforms does LimeFX offer?
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. 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). Currently, clients of LimeFX can only trade on MetaTrader 4, which is rather cumbersome and outclassed by newer trading platforms.
LimeFX Main Features
I also love how cost-effective this platform is, the broker has beginners in mind. Yes – LimeFX does offer negative balance protection to all users. This ensures traders do not lose more than their initial deposit. LimeFX also offers the Cent account with which clients can start with fewer funds and smaller lot sizes. LimeFX’s MetaTrader 4 trading platform is available via a mobile app for Android and iOS devices.
LimeFX vs Other Brokers
If you have at least $250 on your trading account, you can access the bronze package, which I use, and join analysis discussions that are always going on. Plus, this is an excellent tool for exploring other markets than the one you are focused on. Note, the broker is planning to introduce MetaTrader 5 (MT5) to its platform offering, which will bring more advanced analysis tools and trading features for experienced traders. While LimeFX offers sizable first deposit bonuses, that bonus money cannot be withdrawn. Also, pricing for most services is slightly higher or on a par with other major forex brokers.
