LimeFX Review 2024: Read Before You Trade
Over a week-long testing period, I probed customer support with dozens of inquiries, ranging from available tools to fees and questions relating to the security of client accounts. I was surprised at how fast the responses were, and the agents went the extra mile to provide the information I sought. LimeFX offers the MetaTrader 5…
Over a week-long testing period, I probed customer support with dozens of inquiries, ranging from available tools to fees and questions relating to the security of client accounts. I was surprised at how fast the responses were, and the agents went the extra mile to provide the information I sought. LimeFX offers the MetaTrader 5 mobile app for mobile trading, which is available for Android and iOS. The app offers popular features such as alerts, 1-click trading, and trading from the chart. In addition, when trading with a broker authorized by CySEC, client funds are protected by the Investor Compensation Fund (ICF). ICF protects client accounts for up to €20,000 if a firm becomes insolvent.
- It also includes $31M in bonus funds LimeFX paid over the past eleven years.
- If this doesn’t concern you and you assume swaps costs will be unfavourable, then this account will encourage you to trade mid-term and long-term.
- We can tell you that LimeFX has segregated accounts, which is the minimum you would expect to see from a broker as you don’t want them to be able to access your funds.
- In South Africa, LimeFX provides financial services to clients through an intermediary, Orinoco Capital, which is licensed by the Financial Sector Conduct Authority (FSCA).
- It’s very simple to enter buy and sell orders, as well as set stop-losses, you can even use Expert Advisors (EAs) for automated trading.
Why you can trust FX Empire
LimeFXTrader offers a selection of 80 trading instruments, including currencies, metals, energies, indices, and cryptocurrencies. No overnight charges and no commissions are charged when using this trading platform. LimeFX (formerly LimeFX), developed a proprietary copy trading service, expanding into a sector that is gaining popularity, especially among younger traders.
How can I open an account with LimeFX?
You can utilise all of the features available for trading, including expert advisors for automation. Additionally, you can trade with all the trading products available on the platform. There are 35 currency pairs to trade for most traders across the globe, but only 28 pairs are available if you live in the European Union. While 35 pairs mean LimeFX offers all the popular pairs to trade with, less popular pairs can be more volatile which means more opportunity to profit from this volatility.
LimeFX Opening an Account
Customer service is highly responsive, with one drawback being that there is no phone support. LimeFX also made a significant step forward since my last review by adding 150 CFDs limefx scammers on shares from 16 global stock exchanges. Daily and weekly forecasts in the Market Insights section preview the key economic data ahead and highlight the major market movers. The reports cover significant support and resistance levels and technical signals from indicators such as MACD and Parabolic SAR. The research section also includes specific trading ideas, target prices, and key price levels to watch. Robust charting is provided by TradingView, featuring 11 time frames, 11 chart types, and over 100 technical indicators.
Education
Our research limefx broker reviews team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables. The cost savings from the overall pricing environment alone make LimeFX a broker to consider. Beginner traders will benefit from well-thought-out research and educational services.
There’s an economic calendar and regular news updates, which could be useful if you must keep up to date with the latest fundamentals. We think it is odd that LimeFX does not have an email or phone contact and we thought their live chat could be more knowledgeable. This wasn’t good, and we’d like to see LimeFX improve greatly in this department. All in all, LimeFX does have a good range of funding options but it does seem they are lacking in funding options you would expect to see such as BankTransfer and VISA. On the plus side, the company has been around since 2011 and seems to have plenty of positive reviews across the internet.
A risk management tool is also available, called the drawdown percentage (DDP). Should the Master Trader face losses, the DDP will close the copiers position. Copiers can also manually close open positions and retain complete control over their portfolios. Having traded since 1998, Justin is the CEO and Co-Founded CompareForexBrokers in 2004.
Once users have gotten up to speed on a demo account, they can easily switch to a live version. Trading costs such as spreads are clearly explained on the Spreads and Conditions page. To read the fine print, traders can find the Customer Agreement in the footer of the website. The About Us page does a good job of sharing the company’s mission and history through a series of milestones over the years. As stated on their website, over 21 million trading accounts have been opened across 180 countries with LimeFX. Founded in 2011, LimeFX (formerly LimeFX) 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).
