Ordinarily, we prefer to see a choice between a commission-free account (geared towards beginners) and one with raw spreads and low commissions (geared towards advanced traders). However, LimeFx has outdone many competitors by offering the kind of tight spreads you’d expect from ECN accounts without charging a commission. Until recently, foreign exchange brokers did large amounts of business, facilitating interbank forex trading and matching anonymous counterparts for small fees. Today, however, much of this business has moved on to more efficient electronic systems, referred to as ECN. The interbank market caters for both the majority of commercial turnover and large amounts of speculative forex trading every day.
Client orders, stops, limits, and trades are executed with counter-parties, meaning LimeFx is firmly on the client’s side. LimeFx supports bank wires, including several local options, credit/debit cards, UnionPay, Neteller, and Skrill. Traders can access the processing times and minimum/maximum deposits by clicking on the + next to each option. LimeFx transparently provides all necessary information on its website. There are no deposit fees, but several withdrawals face internal charges while third-party processor costs may also apply. While an LimeFx no deposit bonus does not exist, LimeFx offers a 100% first deposit bonus with a $2,000 limit.
I’ve also read much of the educational content and was struck by its bland delivery with long-form text and limited videos or engaging elements like quizzes, all of which could elevate the learning experience. Placing a trade is a quick and straightforward affair limefx forex brokers reviews that can be completed in a couple of clicks via the ‘Market Watch’ window or even more smoothly by turning on one-click trading. This is a much larger virtual bankroll than almost every other broker we’ve tested, but makes sense given the very high leverage.
The platform has a built-in “Help” function so you can get answers to the most common questions directly from within the software itself, so you can concentrate on the important stuff – trading. It maintains sufficient capital reserves, segregates client deposits from corporate funds, offers negative balance protection, and undergoes audits. DayTrading.com is committed to helping traders of all levels make informed decisions about which broker to trade with. Compare LimeFx with the top 3 similar brokers that accept traders from your location.
Embedded tick charts are an extremely useful way to determine accurate entry and exit points. 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 https://limefx.name/ ECN XL account. If you have experience trading with LimeFx please share your personal review of the broker and what you think are strong and weak points. LimeFx does not have a proprietary mobile app, though MT4 can be downloaded to Android and Apple devices. The mobile application has proven to be stable and reliable during testing.
On the other hand, if you already have some experience then I don’t think you will learn anything new. They also do not have frequently updated market analysis which could help gives us some further market insights. If you are just getting started on your trading journey and need guidance along the way, Fortrade is a broker with lots of educational resources. However, the broker does not offer any other platforms such as MetaTrader 5 (MT5), cTrader, or an in-house proprietary platform. After MT4, I would prefer MT5 as the second choice because of its additional features including more timeframes and built-in tools. If you are looking for more platforms, then RoboForex could be an option for you as they have a good selection.
Since LimeFx is a regulated and fully compliant broker, new traders must pass account verification per AML/KYC stipulations. A copy of the ID and one proof of residency documents usually satisfies this final step. 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. LimeFx has earned a good score for its fees due to the tight ECN spreads combined with no commissions, an unusual pricing model that places this brand among the cheapest forex brokers we have reviewed. An economic calendar is an invaluable trading tool which is often overlooked and undervalued by traders.
These customer service agents will help you figure out any issue you have. 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. New traders have access to fourteen quality educational posts plus a dedicated section on major economic reports. Eleven eBooks complete the education at LimeFx, and the overall product remains impressive. Five MT4 user guides and a Forex glossary section are also available.