Online Forex Broker Reviews and Ratings
This policy ensures that traders can manage their funds efficiently without worrying about additional costs. For international deposits, Lime Fx goes a step further by offering to cover internal bank fees. If a client submits a receipt showing an original deposit fee of no more than 50 USD, Lime Fx will reimburse the international bank fees charged by the client’s bank for deposits over 10,000 USD. Comparing trading costs is challenging, with many variables impacting the final fees. We evaluated the spreads of the EUR/USD, gold, the S&P 500, and WTI crude, four of the most traded assets, available at all brokers. Founded in 2005, Lime Fx is an experienced broker with a clean track record.
Traders should be aware of currency conversion fees when trading assets in a different currency. Lime Fx doesn’t charge an account fee, contributing to its appeal. These educational resources are accessible through the Lime Fx website.
It’s important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. From advanced tools that facilitate automated and social trading to services that ensure the stability and efficiency of trade execution, these additional offerings cater to the diverse needs of traders. Beginner traders have access to quality educational content, in-house research, services provided by Trading Central, copy trading, and retail account management. Besides the build-in MT4 copy trading functionality, Lime Fx partnered with Myfxbook Autotrade, also available from within the MT4 trading platform.
Table of Contents
Lime Fx offers one commission-free trading account, but trading costs are higher there than in its commission-based alternative. Active traders get rebates, lowering subscription fees or eliminating them. Since mobile apps cater more to portfolio management, up-to-date developments, and copy trading, they offer the necessary tools to achieve the above. They include economic calendars, streaming news, and watch lists but do not include the cutting-edge trading tools Lime Fx offers for its desktop trading platforms. Mobile trading is widespread among millennial and GenZ traders, copy traders, and those from emerging and frontier Forex markets. Lime Fx offers four mobile apps, including its proprietary option.
Offering of investments
To verify the availability of any features within limefx broker reviews your country of residence, please contact the broker directly. Lime Fx Group is a MetaTrader-only broker that offers a strong selection of high-quality educational content and market research. Overall, Lime Fx is a strong choice for traders of varying levels of experience. However, as with any financial decision, it’s essential to conduct thorough research and consider personal trading needs before opening an account with any broker. Overall, Lime Fx offers a competitive fee structure, as well as transparency, and flexibility. Traders can benefit from cost-effective trading while knowing what to expect in terms of fees and charges.
Forex Risk Disclaimer
The limefx scam Iress platform suite offers well over 9,000 tradeable symbols, but it’s mostly a share trading platform – and is generally a much pricier option. During standard hours from 9 AM to 6 PM EST, traders can access live customer support for prompt assistance. Beyond these standard hours, the broker ensures that support remains available, accommodating its global clientele. Multi-channel support is a highlight, offering live chat, email, and phone support, enhancing accessibility and allowing traders to choose their preferred communication method. Additionally, Lime Fx maintains a comprehensive FAQ section and provides educational resources on its website, empowering traders with the tools to address common queries independently. Lime Fx caters to desktop users by offering trading software compatible with both Windows and Mac operating systems.
Windows users can download the desktop platform, while Mac users can access it through web-based solutions. These desktop apps provide advanced charting tools, user-friendly interfaces, and support for MetaTrader, algo-trading, and copy trading, making them suitable for traders of all levels and preferences. As shown in the table below, the availability of these platforms varies depending on your location and the regulatory jurisdiction you fall under. Additionally, each platform is available on different devices, ranging from mobile apps, to webtrader options, and desktop trading platforms.
While designed for stocks, other selected CFD products are also available on the platform. The asset selection for MT4/MT5 traders consists of more than 250 trading instruments, an adequate level of choice for most traders. Forex traders get 70+ currency pairs, and diversification opportunities exist via cryptocurrencies, commodities and metals, indices, equity CFDs (available through the MT5 trading platform), and bonds. The IRESS trading platform lists over 10,000 equity CFDs and a few futures contracts, but its availability remains geographically restricted.
The application grants access to a clean back-office, from where traders can manage all their trading accounts and financial transactions. Account verification remains mandatory but a swift process at Lime Fx. Most traders will satisfy AML/KYC requirements by submitting a copy of their ID along with one proof of residency document. The Lime Fx Traders Hub provided daily research and trading ideas, presented in a quality format.
Lime Fx caters to traders with a robust selection of trading platforms, offering flexibility and user-friendliness across devices. Cryptocurrency enthusiasts can delve into popular digital assets like Bitcoin, Ethereum, Ripple, and more. The broker also facilitates diversified portfolios through Exchange-traded funds (ETFs) and offers the opportunity to speculate on global stock market indices like the S&P 500, FTSE 100, and a variety of others.
- When compared to the best brokers for research, including IG, Saxo, CMC Markets, Lime Fx has room to improve, and could enhance its research offering by expanding it to include a wider array of daily content.
- Adding more advanced video courses would only serve to improve Lime Fx’ educational experience.
- Lime Fx Group is a MetaTrader-only broker that offers a strong selection of high-quality educational content and market research.
Based on our research on the regulatory status of over 60 brokers, we’ve found that Pepperstone holds 3 global Tier-1 licenses, while Lime Fx holds 2. Pepperstone holds 2 global Tier-2 licenses, while Lime Fx holds 1. Based on our research on the regulatory status of over 60 brokers, we’ve found that Lime Fx Group holds 4 global Tier-1 licenses, while Lime Fx holds 2. All 4 Lime Fx mobile apps are optimized for mobile phones and remain user-friendly. They are ideal for monitoring portfolios on the go, managing existing positions, and copy trading. Given the relatively small screen, mobile apps are best for portfolio management rather than complex trade analysis, but MT4, MT5, and cTrader offer advanced, technical, analytical suites.
Our assessment also considered unique features that set Lime Fx apart from competitors. To learn more, you can read comparisons of Lime Fx vs Plus500, FP Markes vs OANDA, Lime Fx vs Admirals and Lime Fx vs eToro. By comparing Lime Fx against these industry benchmarks, we aim to provide traders with a comprehensive and unbiased view of where Lime Fx stands in the competitive forex brokerage landscape. Lime Fx delivers a very competitive commission-based alternative with raw spreads of 0.0 pips for a commission of $6.00 per round lot. Commodities, indices, and cryptocurrencies remain free of additional costs, which remain included in the markup. Equity CFDs and DMA traders face a fee between 0.06% and 0.30% with a minimum of $10 or a currency equivalent.