Here are a few of the Lime Fx account types you can look forward to trading with once you get started. The variable spreads start from 0.2 – 0.4 pips with a commission already rolled in and no other mark-up to worry about on your MT4 Micro, or MT5 Pro Account. You will also find fixed spreads available on the MT4 Micro account that start from 2 pips. Added to that the fact they do only offer a limited range of base currencies and not many deposit or withdrawal methods and you can see the limitations of this otherwise popular broker choice. Participating in financial markets involves high risk, which can result in the loss of part or all of your investment. There are no guarantees or specific guidelines to prevent losses.
MetaTrader 5
For example, traders will get level 2 quotes in addition to access to the FIX API. The orders are also processed a lot quickly with no order queues. While MT4 is the most popular out of the two platforms, the cTrader platform does offer more advanced features that are particularly suited to retail and institutional traders. CTrader platforms are more suited to the ECN platform, which basically lowers spreads to almost 0, not including the commission rate per trade. Lime Fx provides fully functional mobile trading apps for MT4, MT5, and Lime FxTrader that are available for both Android and iOS devices. These apps offer full trading capabilities, interactive charts, and technical analysis tools on the go.
Ultimately this means you will have access to an extensive range of tools and indicators depending on your platform choice. There are a total of 51 charting indicators provided, and 31 drawing tools also. Even though the spreads can also be very low on MT4, and MT5 accounts, as low as 0.2 pips. All of the same withdrawal methods are also available as your deposit method. That means you can access wire transfer, credit/debit cards, and some eWallets like Skrill.
- The slight difference between ECN and DMA in terms of the liquidity provided is that the typical ECN brokers liquidity providers are not known.
- Finally, allowing API access for custom solutions can potentially attract algorithmic traders and developers.
- Upon selection, traders can establish a Copier Account within the Lime Fx environment.
- Read our full explanation and accounting of our research and testing process to learn more about how we test.
- We admit high-tech access to a range of instruments and multiple platforms either for manual, algorithmic, or social trading.
- Its growth has enabled Lime Fx to continue to expand its products and services.
Is account verification mandatory with Lime Fx?
The support team is recognized for its prompt response times and ability to address concerns in multiple languages, reflecting Lime Fx’s commitment to serving its global client base. Incorporated into the spread, offering cost-effective trading for CFDs. Research tools provided by Lime Fx include a well-detailed economic calendar which keeps you updated with all significant economic events and how they may impact you. Both social and copy trading is well provided for at Lime Fx through their own proprietary copy trading service.
In this in-depth Lime Fx review, we’ll take you through our own experience of opening an account with Lime Fx. We’ll cover everything from their trading platforms, deposit and withdrawal methods, fees and commissions, customer service, and regulation. Lime Fx, a globally recognized online forex broker, was established in 2011 with its headquarters in St. Vincent and the Grenadines.
- Feedback and rankings from authoritative sites like “Trustpilot” on the TradingFinder website assist all traders.
- He has also published a book in 2023 on on investing and trading.
- 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).
Pros and Cons Lime Fx Range of Markets
I found the signals to clearly demonstrate the trading idea and the market commentary is a nice touch to help explain the move. MetaTrader 4 is a great option if you use custom indicators or strategies as it provides the MQL4 library which you can use to create bespoke strategies. If you lack the programming skills, the MetaQuotes Marketplace provides a library of 10,000+ custom indicators from the MT4 community you can use.
Lime Fx Cashback Rebates Features and Conditions
However, with deposits using bank cards, your card issuer may charge some fee for processing the transactions. A wide variety of educational content is available for Lime Fx users under the ‘Traders’ Tools’ sections. This includes an economic calendar, daily analysis posts, as well as trading signals and market insights. Video content is also provided via YouTube, with much of this content archived. This provides a great digital library of webinars that users can take advantage of. As well as standard functions such as those which allow traders to decide how and when they receive notifications; there are also more advanced tools which aim to simplify the trading experience.
This amount can vary depending on the master as they have freedom https://limefx.club/ to individually set commission. Depending on your location, you may be eligible for an Lime Fx deposit bonus of 50%. To qualify, you must deposit at least $50 to get a 50% bonus of that amount. This means you can open positions with as little as $1,000 and this amount can be further reduced if you are trading on leverage.
Approval of the funds can take from 1-3 hours depending on when you make a request. You can request a human agent who was surprisingly not as helpful as the AI with canned answers and no depth of product knowledge. This was frustrating when asking questions about their services and trading accounts as I felt they didn’t answer the question.
Not only does this reduce your trading costs for longer-term positions but it won’t force you to close a position before being charged a swap. This is the first time I’ve seen swap-free accounts for all traders, regardless of location and beliefs, making Lime Fx a truly low-cost broker by avoiding these fees. It offers competitive fees, low spreads, advanced technology and all on a global scale.
However, I would like to see other Tier-1 regulators like the Australian Securities and Investments Commission (ASIC) or the Monetary Authority of Singapore (MAS). These are two offshore regulators that allow Lime Fx to provide secure financial services in 180 countries. Another decent addition I found on MT5 is the native economic calendar which shows the times of upcoming economic announcements that can impact your trades. I like that it updates in real-time and displays on your charts which I found useful to avoid opening trades during high-impact announcements like US GDP or Non-farm Payrolls. The platform also has 38+ indicators featuring Ichimoku and RSI, while increasing the number of timeframes to 21 for better customisation. Additionally, you have excellent drawing tools limefx broker reviews for price action analysis like Fibonacci or Gann tools which I couldn’t find on the Lime FxTrader platform.
Live chat is the main means of contact; it provides quick help and is open 24/7 in English, Hindi, and Urdu, among other languages. Furthermore, efficient trade management depends on MT4’s quick order execution, which is absolutely important for active traders. Generally, Lime Fx’s integration of MT4 offers a strong trading solution that combines extensive features with user-friendly usability, so it’s a great fit for several trading approaches.
The broker also asserts its technical environment is constantly monitored and protected by dedicated teams of technical specialists and security. It has management systems that ensure that clients do not lose more than initially invested. If account balances become negative due to Stop-Out, Lime Fx compensates the account by adjusting the account balance to zero, ensuring the risk is limited to only deposited funds. The company’s educational library is well maintained and offers rich learning resources that includes webinars, articles, platform tutorial videos and a video course. The term leverage is the ability to have access to added funds – margin – when trading financial instruments. Although increasing your margin could boost your market exposure, it also raises your vulnerability to losses.
With Lime Fx being an ECN broker, I found MetaTrader 5 can utilise its advanced features like depth of markets tool for you to analyse market order flow. This is a great tool if you scalp or day trade as you can use the data to find hidden support or resistance while helping you spot breakout trading opportunities. Firstly, the broker doesn’t offer the best range of asset coverage. The major forex pairs are offered, yes, but almost no emerging markets are. No stocks are offered, only 2 commodity assets, and 2 cryptocurrencies.
This has an extensive baak-testing capability with its suite of tools. Like the MT4 platform, this platform allows you to trade on a computer, and mobile, either on iOS or Android. For example, the winner of the Champion demo contest will win $1,000 which will be credited to your account. The weekly cTrader competition is a draw with a prize of $400 for the lucky winner. This initial deposit will also be eligible for an Lime Fx bonus of 50%. If $50 is deposited then you will receive half of the initial deposit as a bonus to your funds.