LimeFX Review 2024: Pros, Cons, & Fees
A quality FAQ section answers many questions, and most traders may require additional assistance only during emergencies. Here is a screenshot of a live LimeFX MT4 trading account during the London-New York overlap session, the most liquid one, where traders usually get the lowest spreads. LimeFX provides a good flow of market analysis via its Traders Hub section. Material is mostly text-based and covers both fundamental and technical themes.
Inactivity Fee
Having traded since 1998, Justin is the CEO and Co-Founded CompareForexBrokers in 2004. Justin has published over 100 finance articles from Forbes, Kiplinger to Finance Magnates. He has a Masters and Commerce degree and has an active role in the fintech community. He has also published a book in 2023 scammed by limefx on on investing and trading.
- You’ll need to provide basic personal information, upload some ID documents for verification (KYC compliance), and choose your preferred account type and trading platform.
- All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor.
- If you are looking to trade stocks outside Australia with LimeFX then you are best to use the MT5 trading platform or consider TMGM who have IRESS outside Australia.
- Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com.
MT4 has several options to enter orders and limefx forex brokers reviews fully supports automated trading via EAs. LimeFX does not offer APIs to allow third-party solutions to connect. LimeFX also maintains the MAM/PAMM module, enabling retail account management. A built-in copy trading function is equally available across MT4/MT5 and cTrader, which all support algorithmic trading. MT4 is the market leader for automated trading solutions, while many consider MT5 the failed successor amid a lack of backward compatibility. The $6.00 commission for Forex traders per 1.0 standard lots remains among the best industry wide.
Install Our Apps
LimeFX offers traders a straightforward and efficient process for deposits and withdrawals, emphasizing transparency and convenience. These unique features collectively empower traders to navigate the complexities of the financial markets with precision and confidence. In summary, LimeFX demonstrates its commitment to providing traders with the tools and insights they need for successful trading endeavors. These are ideal for algorithmic traders to test EAs and fix bugs. Trading fees have the most notable direct impact on any strategy, and LimeFX offers two pricing models. The commission-free Standard account shows an average mark-up of 1.15 for the EUR/USD.
RAW Account Spreads
Headquartered in Sydney, Australia, they’ve carved a niche in the online trading space. With a presence since 2005, they cater to a global audience interested in speculating on currency markets, commodities, indices, and even cryptocurrencies. While our evaluation points to an average performance of the LimeFX mobile trading apps, they still provide a solid, functional mobile trading experience that can meet most traders’ needs effectively. Beginner traders have access to quality educational content, in-house research, services provided by Trading Central, copy trading, and retail account management.
How do I withdraw money from LimeFX?
For those seeking a more web-based experience, cTrader provides a sleek and intuitive interface, perfect for scalping and day trading strategies. These are the silent assassins that can eat away at your profits if you’re not careful. So, after spending two months diving into the LimeFX platform, here’s the breakdown from a trader’s perspective.
LimeFX seems to have this instrument buffet well-stocked and well-maintained. I spent the past two months diving into their platform, and let me say, it’s like a candy store for traders. They’ve got everything from the major forex pairs you’d expect (think EUR/USD, USD/JPY) to more obscure minors and even exotic pairings. No problem, they’ve got established ones like the US S&P 500 and Germany’s DAX. And to truly satisfy the modern trader’s appetite, they’ve even thrown in some cryptocurrency CFDs – Bitcoin, Ethereum, you name it.
LimeFX offers Standard Accounts with commission-free trading and educational resources. However, the variety of instruments and potential for high leverage might be overwhelming for complete beginners. Sure, you pay a commission per trade, but with spreads that razor-thin, those commission fees can become a distant memory, especially if you’re an active trader.