The free LimeFX Research app allows clients to look at stock market data, financial viewpoints, and videos in an easy-to-use format. However, stale and outdated information undermines the app’s enormous potential, with the most recent entries going back several years in some cases. The “Live Economic News” showed up to date reports, but “Live Currency Quotes” produced a dead link.
Account Currencies
LimeFX offers several types of live and demo accounts, which means that traders can test the various features and functions of the different accounts without investing real money. Once they try the demo versions of the accounts, they can register an actual trading account. There are several different types they can choose from – accounts are either Live or STP/ECN. LimeFX is an online forex broker that offers trading in currency pairs, contracts for difference (CFDs), commodities, indices, futures, shares, gold, silver and oil.
Live Premium
I checked the usability of LimeFX’s seven retail account types and found them quite diverse, with hugely varying pricing mechanisms. Generally, the accounts are suitable for beginners and advanced traders. Each account type supports swap-free trading via LimeFX’s Islamic accounts.
One of the biggest advantages of trading CFDs is that traders can get in and out of the market almost instantaneously, thereby catching even minute changes in the price of the derivative. Certain features, such as the one-click trading option and depth of market tool, enhance the platform’s overall performance. They allow traders to easily examine the current market behavior and enter into trades quickly.
Trade Forex with the industry standard MT4 Platform
The Absolute Zero Account is an STP account and has no commissions scammed by limefx on trades. The minimum deposit required for this account is $500 and once again, clients can register SD, EUR or JPY as their base currency. VIP members benefit from even better conditions – for instance, the spreads are tighter, around 1.4. However, this type of account is offered only to traders who make deposits of $10,000 or more and have the US dollar (USD) as their base account currency. The Premium Account is for traders who can afford to deposit at least $1,000.
- In addition to an online chat feature, LimeFX gives clients access to 24/5 client support in 45 different languages.
- Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite.
- While credit card deposits are usually instant, transfers via bank wire may take up to 3 working days to appear in the trading account of the client.
- LimeFX distinguishes itself with its extensive range of supporting materials, catering to both beginners and seasoned traders.
A commission is charged, however, because the broker needs to be compensated in some way. Finally, the fine print advises that spreads widen significantly during volatile and off-market periods, even with fixed spread accounts. The broker’s account diversity is impressive, with a tiered structure that includes floating vs. fixed and commission vs. no commission fee schedules. They round out their services with a variety of professional accounts, introducing broker (IB) branding and a portfolio management program. They recently added cryptocurrency coverage to a broad selection of forex, spot, and CFD trading products. Earlier in 2018, LimeFX announced a partnership with EmurgoHK to open a cryptocurrency exchange, but the launch date hasn’t been announced.
The lack of 2-tier platform authentication and guaranteed stop-losses could be a problem if your account gets hacked or your stop-loss gets filled in a volatile market. Choose between Live and STP/ECN trading accounts, offering both floating and fixed spreads. LimeFX offers Metatrader 4 and 5 but no dedicated or proprietary trading platform. Social and copy trading options are limited, with no dedicated third-party platform. They do offer a Mirror account, but that’s a hedging limefx courses scam tool, not a social trading interface. Today, after some weeks of intense trading on indices, I decided to withdraw my funds.
Usually, the price of gold, for instance, is a function of the current sentiment. With respect to customer service, the broker provides decent contact options and support in 45 languages, which could be a plus. The trading competition might also be an incentive to open an account, and the broker’s support for the popular MT4 platforms seems to be the best feature of this broker. LimeFX lets clients trade multiple markets on an Electronic Communications Network (ECN) and also offers an AutoTrade copy trading platform for social traders. An extensive website section is devoted to trader education, which makes LimeFX suitable for beginners. LimeFX services over 1.2 million clients in 180 countries around the world, providing 300 tradable instruments from 6 asset classes.