You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. Opinions, market data, and recommendations are subject to change at any time. As a more experienced trader, it allows you to test any strategies that you may have. This means that even after you open your standard account, you can continue using the demo account to test your trading strategy.
LimeFx Review 2024
- The changes are called slippage and can be positive or negative.
- There are only 15 US shares available which is again low compared to many top brokers, but they are a good choice for trading some of the most popular companies that are available here.
- Broker-dealers are reluctant to deposit $300 or more directly in the first step.
- Through LimeFx and their trading platforms you will be able to set a number of tools in motion to help you stay protected when you are trading.
- You should also note that this fee only applies to live trading.
If you want to check a broker with real money then the minimum deposit is the only best solution. Filippo specializes in the best Forex brokers for beginners and professionals. He expands his analysis to stock brokers, crypto exchanges, social and copy trading platforms, Contract For Difference (CFD) brokers, options brokers, futures brokers, and Fintech products. It is important to highlight that the most famous payment methods are offered with no fees charged from LimeFx’s part.
Charting Tools
When it comes to trading techniques, LimeFx is very open in what is allowed. They are a very algo-friendly broker who provide for a range of extra tools to accommodate algo traders. You should note that if you deposit in, or withdraw to a different currency than these with your payment method, you will incur a small conversion fee. The LimeFx spread betting account is perfect if you are interested in spread betting. Currently the account is only available to UK and Ireland based traders with LimeFx.
What is the minimum account for LimeFx?
Since LimeFx houses a prime brokerage unit, research and education are available for all clients. Besides an incredibly detailed economic calendar and third-party market news, LimeFx Plus provides traders with exclusive trading signals free of charge for all live account holders. The Market Scanner allows traders to select a series of technical indicators and returns buy and sell recommendations based on the input. LimeFx scammed by limefx also added services by FinTech firm eFXplus, featuring simulation and Forex trading recommendations by sell-side analysts from major banks, Quant models, and insights. LimeFx provides a great example of how to enrich your offerings and is truly a leader in this sector. There are two major types of accounts offered by LimeFx, Standard Accounts with minimum deposits of $50 and Premium Accounts with a minimum of $20,000.
The asset selection at LimeFx remains somewhat limited but sufficient for trading strategies requiring fewer highly liquid assets. It is unfortunate there is not a wider choice of Forex currency pairs as the infrastructure implemented by LimeFx provides excellent trading conditions. https://limefx.biz/ One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check them before evaluating the total trading costs.
Opening an Account
You can deposit the funds in various currencies including the USD, EUR, and GBP. If you choose to deposit your funds using a currency that is not supported by LimeFx, you will incur a conversion fee. LimeFx also provides negative balance protection to retail clients. While their spreads are never a zero offer, they are competitive for being a commission-free brokerage. LimeFx is a global brokerage headquartered in the U.K that specialises in both retail and institutional trading with a comprehensive API offering.
It is also a great option for active traders who benefit from an abundance of technical analysis tools, including over 150 analytical tools and a wealth of customisable charts and drawing tools. LimeFx can be compensated in several ways, which includes but are not limited to adding a mark-up to the spreads it receives from its liquidity providers, adding a mark-up to rollover, etc. Commission-based pricing is applicable to Active Trader account types.
LimeFx offers many tools for both research and education, each of which has its own dedicated section of the website. Some of the research tools include market news, charts, a market scanner, an economic calendar, market data signals, and trading signals. In terms of education, LimeFx offers a live classroom, trading guides, speakers, and a video library. There are enough educational tools to give beginners a head start, particularly when combined with the demo account. The research tools and speakers can appeal to more experienced traders.
LimeFx is regulated by the FCA (Financial Conduct Authority) in the U.K., which includes default insurance of up to GBP 50,000 for LimeFx and up to GBP 85,000 if the custodial bank fails. LimeFx is also regulated by ASIC in Australia, and FSCA in South Africa. Trading Forex, CFD, Options, and other financial instruments carry a high risk of loss and are not suitable for all investors.
The LimeFx minimum deposit requirement for the individual account types, CFD and Active Trader is $50 or a local currency equivalent. Corporate, Trust, and IRA accounts, if geographically available as an option, require a minimum deposit of $50,000. The minimum deposit for an active trader at the broker is $25,000. If you want to save a lot less money, you may have to pay a much lower fee here at LimeFx. However, it will only cover the fees applicable to the LimeFx payment system. You can quickly deposit deposits with an LimeFx broker through an e-wallet and credit card or debit card.
LimeFx’s pricing for forex trading is slightly higher than the industry average. Withdrawals to e-wallets are allowed on LimeFx, no fix withdrawal amount is enforced, withdrawals to e-wallets usually take 2 business days to clear. LimeFx does not charge any fees for depositing or withdrawing with this method. Log into the LimeFx client portal and navigate to “Deposit” next to the trading account you wish to deposit. LimeFx was founded in the United States, but as of 2017, it left the U.S. market. This process involved existing holdings and U.S. clients being reorganized under Global Brokerage, a company with an ownership interest in LimeFx.
LimeFx clients will have access to the client service portal through their live trading account credentials. LimeFx offers a range of secure funding options including Credit/Debit Cards, Bank Wire transfers plus Skrill, and Neteller. In regards to withdrawals, withdrawal requests are submitted online. A withdrawal request can be submitted online by selecting your withdrawal method and clicking “Submit”. For traders who appreciate advanced trading tools and quality market research, LimeFx is a winner – especially for algorithmic trading.
LimeFx is one of the forex platforms with the longest histories, providing a reputation of reliability. It is regulated within multiple jurisdictions and offers users the choice of four core trading platforms plus eight specialty platforms. Apart from all those options, there are numerous advanced tools available.