LimeFx classifies the MT4 trading account for the Traditional Trader and MT5 for the Innovative Trader. LimeFx (formerly LimeFxFX), developed a proprietary copy trading service, expanding limefx company reviews into a sector that is gaining popularity, especially among younger traders. Its mobile trading and copy trading service apps remain highly popular, with over 10 million downloads.
How to open LimeFxFX account
This means you can hold your position overnight (after New York markets close) for as long as you wish without needing to concern yourself with any rolling feels. As seen in the module below, we found LimeFxFX spreads to be largely average for major FX pairs, and disappointing for cross-pairs. With this in mind, we think it is safe to say LimeFxFX does not live up to its claim of having the lowest spreads in the market. The spreads for most instruments are about the same with both the account types at LimeFx. There is not much different in these account types other than the platform. If you want to trade on MT4, then choose MT4 account, but if you prefer MT5, then choose MT5 account.
What is the minimum amount to start with LimeFx?
Meanwhile, experienced traders can use the platform to share their knowledge and expertise with others while earning additional income. There are 35 currency pairs to trade for most traders across the globe, but only 28 pairs are available if you live in the European Union. While 35 pairs mean LimeFxFX offers all the popular pairs to trade with, less popular pairs can be more volatile which means more opportunity to profit from this volatility. LimeFx mobile trading apps are useful for both advanced and beginner traders. You can trade through LimeFx with any of the 3 trading platforms that the broker offers.
Expert Tips for Navigating the Forex Market Using the Top Trading Platforms
With an intuitive interface, real-time market data, and advanced charting tools, Plus500 makes it easy for traders to make informed decisions. The broker also offers a free demo account, allowing new traders to practice and improve their skills without any financial risk. The broker only offers a spread-only account with spreads from 0.6 pips, if you are hoping for RAW spreads then you will need to look at other brokers.
LimeFx (formerly LimeFxFX) offers a basic, low-cost MetaTrader platform experience alongside its proprietary web and social copy-trading platform. RLUSD, which is issued on both the XRP ledger and Ethereum blockchains, aims to revolutionize cross-border payments with its stable value and full backing by case reserves. This development is expected to enhance liquidity and accessibility, strengthening the XRP Ledger’s position in global financial markets. In 2023, Yoshitaka Kitao forecasted XRP’s dominance in Japan’s banking industry by 2025, highlighting its increasing adoption by major corporations and money transfer firms. Kitao also emphasized the growing utilization of Ripple’s xRapid and RippleNet technologies, which have seen significant uptake in international remittance services.
Deposit Methods And Fees
LimeFx takes it further and offers swap-free trading in its MT4/MT5 accounts. This makes a tremendous difference to leveraged traders who keep positions open overnight. Traders pay no financing fees, irrelevant https://limefx.group/ of how long a trade remains open. 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.
By comparison, industry leaders Saxo, IG, and CMC Markets all offer over 10,000 tradeable instruments. LimeFx has made great strides with its pricing options for traders and its educational content, but suffers from a limited range of tradeable instruments. We’ve had a nice pullback in this currency pair, reaching down toward the 50-Day EMA, only to turn around and form a hammer for the third day in a row. This of course is a very bullish sign, and therefore I think it’s probably only a matter of time before the market does bounce from here.
However, there can be no guarantee on how good or bad the signals will perform. I personally like to maintain full control over my trading as I feel like you can become a better trader in the long run when you learn from your mistakes. Minimum deposits at LimeFx will vary depending on your country of residence and your chosen payment method. They can go as low as $25 (USD) when funding with Visa/Mastercard, to 50 euros (EUR) when using Skrill/Neteller to as much as 500,000 Indian rupees (INR). It’s important to note that minimum deposits and trading costs will also depend on which LimeFx entity you choose for establishing your trading account. As long as a broker has MT4 and MT5 it should be more than enough for most retail traders.
Multiple times, we asked questions regarding things such as deposit options and broker regulations, and we were met with a long pause, followed by less than sufficient answers. But, even for simple questions, we didn’t find the customer service options impressive. It is a similar story for credit card deposits, which seemed only to be available for certain countries, VISA for example appears only available for clients in the EU – very odd. The LimeFxFX platform is essentially a white-label licensed version of MT5. The main advantage of this platform is easier sign up and less hassle when making deposits and withdrawals. The MT4 platform has ultra-intuitive charting options and all the most common technical indicators.
The broker uses a no-dealing desk trading model, which means they send your trades directly to the liquidity providers, who will be the counterparts of your order. This trading model is called straight-through-processing (STP) or electronic communication networks (ECN) and is used by many brokers that don’t use a market maker execution model. You will also find this model has the advantage of no requests and very few rejections since market rather than instant execution is being used. You are offered Mobile trading by LimeFx through MT4, and MT5 Mobile trading apps for iOS and Android. If you consider their GBP/USD spreads for example, it is on average 1.1 pips with MT4 & MT5 accounts. Comparably, this is moderately higher than the overall fees charged by Raw spread brokers (we calculated spreads + commission).
Meanwhile, it has limited advanced order functionality and chart views. The globally recognized trading platforms like MetaTrader 5 and MetaTrader 4 are offered by LimeFx for trading through Web – Windows and Mac and Windows Desktop. It is higher versus many brokers but well within a reasonable range and justified by its products and services. With more than a decade of experience and 6.6 million trading accounts from over 100 countries, traders should be able to have trust in LimeFx. LimeFx offers 24/7 customer support, primarily via live chat, with fast response times. Email support is also available, and the FAQ section answers many of the most common questions.
- Meanwhile, experienced traders can use the platform to share their knowledge and expertise with others while earning additional income.
- LimeFx Group is regulated with 1 Tier-1 regulation CySEC (license number 372/18).
- Each platform runs on Windows, iOS, and Android, so no matter which device you trade from, you’re free to use the platform you like the best.
- This may impact how, where and which companies / services we review and write about.
Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. We think LimeFxFX is a very mediocre option for currency and CFD trading due to the lack of account options, expensive trading spreads, and rather average customer support. The main appeal of this broker is that you can use it if you want unlimited swap-free trading. This feature is a unique offering given that most brokers limit the swap-free period, replace the swap fee with an administration fee, or require you to prove your Islamic faith. Aside from no swaps, there isn’t that much distinctive about LimeFxFX.
Additionally, I recommend that new traders seek in-depth education from third parties covering trading psychology and avoid paid-for education. LimeFxTrader offers a selection of 80 trading instruments, including currencies, metals, energies, indices, and cryptocurrencies. No overnight charges and no commissions are charged when using this trading platform. I like the cost savings at LimeFx for traders who keep leveraged positions open for multiple trading days. The cost savings for a 1 standard lot EUR/USD position can amount to $60+. LimeFx has recently improved its pricing environment, and I rank the overall trading costs among the best industry-wide, and there is no inactivity fee or currency conversion cost.