Processing times depend on the geographic location and the payment processors, which Lime Fx lists as between one and ten business days. There are no limefx internal deposit or withdrawal fees, except for traders who request a withdrawal without placing a trade, which carries a 3% fee. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.35% of retail investor accounts lose money when trading CFDs with this provider.
Exceptional Support
You can buy and sell CFDs on spot commodities with best-of-market spreads and spot execution without having additional foreign limefx broker reviews exchange exposure. There are all of the major agriculture and energy commodities that you would expect to find with a top broker like Lime Fx. The broker was setup way back in 2010 and is part of an established international financial group that was formed in 1972 which provides a high level of trust and confidence to clients due to its longevity.
Commodities
Lime Fx could be a good starting broker for new and intermediate retail traders, although more professional traders might look for a broker with additional research resources and assets. Traders can open an Lime Fx account via the online application form, which follows well-established industry standards. It asks for name, e-mail, phone number, country of residence and knowledge and experience. The application also asks traders to select their account type, base currency, followed by the desired password for the back office.
It takes just $100 to open a Micro account, increasing to $2,500 for a Premium account and $20,000 for a VIP account. Well-documented account subheadings outline fee schedules and side-by-side comparisons for floating vs. fixed, commission vs. no commission, and dealing desk vs. direct interbank trading. All withdrawals incur fees that vary among credit cards, electronic tellers, and bank transfers/locations.
Does Lime Fx accept US clients?
Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights in the commission-free Absolute Zero account. I rank trading costs among the most defining aspects when evaluating a broker, as they directly impact profitability. While Metatrader 4 and 5 are a bit outdated with some clunkiness, they provide reliability and vast functionality that frequent traders need. This website is not directed at EU residents and falls outside the European and MiFID II regulatory framework. Notesco Limited is registered in Bermuda with registration number and registered address, Ground Floor, Swan Building 26 Victoria Street, Hamilton HM 12 Bermuda. The group also includes CIFOI Limited with registered office at 28 Irish Town, GX11 1AA, Gibraltar.
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.
- I think the desktop version of the platform is great for running automated systems (expert advisors) whereas the mobile trading app is perfect for taking the markets everywhere with you in your pocket.
- The various different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
- The company’s current promotions include its Iron Worlds Championship live trading competition held from mid-June 2021 until mid-December 2021.
- This can be vital if there is a scenario where there is some major market news that I need to try and capitalise on.
I always recommend traders check for regulation and verify it with the regulator by checking the provided license with their database. The Lime Fx group presents clients with two regulated trading entities and maintains a secure trading environment. We recognise that each trader, being a unique individual, has different needs, goals, trading style preferences and appetite for risk. Therefore, to cater to the needs of almost any type of trader, we offer exclusive account types. Get the most out of our 6 different account types, 3 Live and 3 STP/ECN with the lowest spreads and flexible leverage.
Lime Fx lists no expiry times, which is great, as all demo traders require unlimited access. While I recommend the Absolute Zero account for traders, the Demo Floating Spread offers the most realistic demo trading environment. Lime Fx provides 24/5 support, email, and live chat for prospective and existing clients in over 180 countries and in 30 different languages, and in chat was responsive during several contact attempts. A comprehensive FAQ addresses most inquiries while tutorials on trading platforms shorten relatively steep learning curves. Email address and phone numbers are provided for satellite offices in Cyprus, South Africa, and Australia, allowing local contact.
The minimum deposit required to open an account is only $100 which is great when you consider the industry leading trading platforms and conditions they offer. Overall, Lime Fx is a very well established and reputable trading broker that serves all types of traders from around the world. They give you convenient access to a generous range of trading instruments across multiple markets. The advanced trading technology incorporated ensures that the trading conditions are some of the best available with competitive spreads (fixed/variable) and competitive trading costs. There are plenty of account types and payment options to suit all types of traders whilst each client is treated equally.
Success in online trading and investing depends on proper planning based on solid information and useful market insight. For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. With respect to data security, Lime Fx uses standard data encryption, but it lacks 2-tier platform authentication and only requires a 1-time password for MT4. Luke Jacobi is a distinguished professional known for his role as President at Benzinga, a renowned financial media outlet. With a background in business operations and management, Luke brings valuable expertise to his position, overseeing various aspects of Benzinga’s operations.
The trading process is automated which keeps manual intervention to a minimum and thus helps to maximise efficiency and effectiveness. The award-winning trading platforms available provide an automated risk-management system to ensure that client accounts will never go negative. Lime Fx 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 Lime Fx suitable for beginners. Lime Fx is an online forex broker that offers trading in currency pairs, contracts for difference (CFDs), commodities, indices, futures, shares, gold, silver and oil.
Being a modern HTML5 application, it runs without requiring any additional browser plug-ins or add-ons. FOREX.com, registered with the Commodity Futures Trading Commission (CFTC), lets you trade a wide range of forex markets with low pricing and fast, quality execution on every trade. The products listed above represent only a partial list of the more than 300 CFDs, futures and other assets that you can trade at Lime Fx. Lime Fx accepts traders resident in most countries except the USA, Iran, Cuba, Sudan, Syria, and North Korea. Lime Fx has traders from 180 countries, making it one of the most accessible brokers. Most traders will pass verification after submitting a copy of their ID and one proof of residency document.