If your country is not accepted, please feel free to take a look at our broker comparison tool for alternative options. The broker is regulated in multiple jurisdictions by some top-tier regulators. This means that they must comply with stringent national and international regulatory authorities and demonstrates their commitment to maintaining high business standards and ethics.
LimeFX vs Other Brokers
Joey Shadeck is the Content Strategist and Research Analyst for BrokerNotes.co and ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an limefx scam active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.
Customer Support Test
Traders have eight account options at LimeFX, where the minimum deposit is $0 for most. Low trading fees and quality education for beginners from an industry leader. The obvious solution is to avoid adding more money to your account if you aren’t ready or can’t afford to lose it.
However, they do change over time and vary between countries, so check the current offers available when you sign up. With that said, the brokerage does have plans to introduce MT5 in the future. Note that while users may be able to trade 24 hours a day, spreads are less competitive during periods of low liquidity. Finally, investors benefit from the latest features from Trading Central via the Client Portal as well as from trading widgets including a currency converter, a pip, margin and profit calculator. For any withdrawal problems, contact customer support on one of the channels described further below. Payments typically take up to 24 hours, though wire transfers may take up to five business days.
Markets & Instruments
LimeFX does not offer its services to residents of certain jurisdictions such as USA, Cuba, Sudan, Syria and North Korea. It’s advisable to begin trading with a small amount of money and increase the amount you wish to put on your trades as you become more confident. It’s important to recognize that initial losses are part of the learning curve in trading.
LimeFX Withdrawal Methods
- LimeFX provides quite a few deposit methods, while withdrawals are sent only via bank wire.
- One thing in particular I like that sets LimeFX apart from many other trading brokers is their admirable support for a wide range of philanthropic and charitable activities.
- Home to a breadth of content presented in courses, webinars, videos, podcasts and eBooks, it offers a complete trading experience for traders of all levels.
Fixed spread accounts also have a competitive advantage in such environments as their costs cannot rise, no matter how volatile the market becomes. I thus determined that fixed/floating spread accounts are better suited for beginners looking for extra protection. I evaluated LimeFX’s fixed/floating spread and STP/ECN account types across multiple factors and discovered certain important differences. As shown above, the latter tend to have more favorable spreads and commissions. However, the STP/ECN accounts also have higher stop-out levels (50%). I found these accounts most suitable for experienced high-frequency traders looking for the most competitive prices.
It offers beginner education videos and general education on forex and CFDs. Based on its rating for education and beginners, it provides an average educational experience. The method you used for depositing funds is also generally the same one used for withdrawals of profits and any remaining account balance.
We may be compensated but this should not be seen as an endorsement or recommendation by TradingBrokers.com, nor shall it bias our broker reviews. There may be fees charged when using certain payment methods but I generally found them to be negligible. Of course, if you are moving large amounts then you might notice more of a difference.
However, I consider the lack of an instruments search tool to be limefx broker reviews the biggest drawback of the platform. You have to scroll through the entire list of available instruments in order to find the asset you are looking for, which I find tedious and unnecessary. An FX withdrawal takes between one and ten business days, dependent on the payment processors and the geographic location of traders. The secure LimeFX back office handles all financial transactions for verified clients. LimeFX received numerous awards for various aspects of its competitive trading environment.