LimeFx Review 2024

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I always recommend that traders check them before evaluating the total trading costs. While LimeFx operates without a regulator, it remains a duly registered international business company (IBC) in Saint Vincent and the Grenadines with registration number IBC 2011. It does segregate client deposits from corporate funds and offers negative balance protection. LimeFx also has been catering to clients from over 100 countries for over a decade. LimeFx extends three types of trading accounts to suit diverse user needs – the Micro (MT4), Pro (MT5), and the LimeFxTrader account. All three account types, beneficial for both beginners and professionals, provide fair and competitive conditions.

  1. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points.
  2. LimeFx offers bank wires, credit/debit cards, and several cryptocurrencies as withdrawal methods.
  3. LimeFx gives high priority to the ‘Analysis and Education’ section of its site.
  4. In terms of commodities, LimeFx presents opportunities to trade in energy products, precious metals, and others.

Traders may follow signal providers, which LimeFx refers to a Master Traders. LimeFx takes it further and offers swap-free trading in its MT4/MT5 accounts. This makes a tremendous difference to leveraged traders who keep positions open overnight.

Local banks payments first introduced

The cost savings for a 1 standard lot EUR/USD position can amount to $60+. LimeFx has recently improved its pricing environment, and I rank the overall trading costs among the best industry-wide, and there is no inactivity fee or currency conversion cost. Minimum deposits at LimeFx will vary depending on your country of residence and your chosen payment method. They can go as low as $25 (USD) when funding with Visa/Mastercard, to 50 euros (EUR) when using Skrill/Neteller to as much as 500,000 Indian rupees (INR). It’s important to note that minimum deposits and trading costs will also depend on which LimeFx entity you choose for establishing your trading account. Founded in 2011, LimeFx holds a regulatory license in Europe via its Cyprus-based entity – LimeFx Markets Cyprus Ltd – which is regulated by the Cyprus Securities and Exchange Commission (CySEC).

It’s always nice to have extra security tools thrown in and LimeFx provides more than most. The LimeFx technical environment is monitored 24/7 by a dedicated team of highly professional security engineers and technical specialists. Credit and debit card transactions are subject to 3D secure Visa authorisation and there are processes in place to protect clients making withdrawals. Account security — in line with the guidelines provided by the better regulators, LimeFx keeps client funds in segregated accounts. Electronic access and communication is also protected by a ‘SSL-secured Personal Area’, which has 128-bit encryption, and makes your browsing safe and your data inaccessible to any third parties.

Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry. Founded in 2011, LimeFx (formerly LimeFxFX) is part of a group of global entities, which include LimeFx Markets LTD (based in the island of Mwali) and LimeFx Markets Cyprus Ltd (based in Cyprus). LimeFx also provides financial services through its intermediary, Orinoco Capital (based in South Africa). Though it has been granted regulatory status in Cyprus and South Africa via an intermediary (Orinoco Capital), LimeFx’s lack of additional reputable licenses heavily weighs down its Trust Score. Becoming regulated in more jurisdictions – especially in Tier-1 jurisdictions – will go a long way towards building trust with existing and prospective customers. LimeFx has improved its educational offering with webinars and live trading session recordings and expanded its educational articles and videos.

Here is a screenshot of LimeFx live quotes during the London-New York overlap session, the most liquid one, where traders usually get the lowest spreads. Overall, LimeFx has streamlined the deposit and withdrawal process, making it convenient and efficient, without imposing any extra fees. These trader-friendly policies lead to LimeFx receiving a top rating for its deposit and withdrawal procedures. LimeFx handles customer queries through multiple channels including a live chat function, email, and phone support. In terms of commodities, LimeFx presents opportunities to trade in energy products, precious metals, and others.

We launched our trading app on iOS

Upgrading to a live account requires a bit more leg-work but is by no means arduous. Payment options include VISA, AWEpay, bitcoin, FasaPay, local bank deposits, local bank transfers, Neteller, Paytm, Skrill, UnionPay. The service provides tutorials, which explain how this is done and primes traders to run a cBot and use the free algorithms made available to them.

Data safety

The firm looks set to continue to meet that challenge and provide its clients with a top-quality trading experience. It ticks many boxes for traders, who can access it through the live chat, email, phone, or by using an enquiry form. It is clear that the Education section of LimeFx’s website is of great importance to the broker. All of the materials are of high quality and cater to beginners, intermediate and advanced traders. That LimeFx is catering to all these groups is a big plus for the site, and the resources are made available to traders using demo as well as live accounts.

The pushback comes from the more limited number of instruments a user can trade on this platform. However, this should not detract from what LimeFxFX is, as a convenient, efficient, cost-effective trading proposition, that is attracting a number of third-party industry awards. https://limefx.name/ Opening a MetaTrader 4 Demo Account is the best way for a new trader to check out the platform, get familiar with the tools and learn trading techniques. The account works like a live account, except that it allows you to trade with virtual money rather than real money.

Each year, we collect thousands of data points and publish tens of thousands of words of research. One way in which LimeFx leads the sector is its willingness to share limefx courses scam data on its own operations. In line with this transparent approach, it also provides a range of metrics relating to the performance of its customer support team.

All the background materials are of high quality, and the videos are supported on YouTube. Developed using programming language MQL5, MetaTrader 5 allows Black Box Programming, which makes it a viable choice for developers and users of trading robots. They analyse quotes from financial instruments allowing traders to execute the most profitable trades. Thousands of these indicators can be downloaded for free on the MQL5 code base.