Compared to other brokers, Lime Fx claims to have low trading fees and charges nothing on deposit and withdrawal. The minimum spread users can expect to pay on any trading instrument at any given time is 0.6 pips. The broker also asserts its technical environment is constantly monitored and protected by dedicated teams of technical specialists and security. It has management systems that ensure that clients do not lose more than initially invested. If account balances become negative due to Stop-Out, Lime Fx compensates the account by adjusting the account balance to zero, ensuring the risk is limited to only deposited funds. The company’s educational library is well maintained and offers rich learning resources that includes webinars, articles, platform tutorial videos and a video course.
Lime Fx Web Platform
Lime Fx holds just one Tier-1 license and one Tier-2 license, resulting in a grade of “Average Risk” within the ForexBrokers.com Trust Score rating system. While the “best” trading app ultimately depends on individual preferences and trading styles. It has a highly intuitive design and solid functionalities, with the possibility of using tools and trading with various stocks, ETFs, and several cryptocurrencies.
- The process also gives you plenty of information about trading in forex markets.
- Established in 2011, Lime Fx has built a strong reputation in the global financial markets.
- Material includes live trading sessions, workshops, and trading strategy-themed presentations.
- When opening my account I was given the option of only using USD as the account base currency.
The competition recognizes and rewards exceptional traders with cash prizes that can be withdrawn or used for trading, promoting skill development within a secure environment. Finally, a specialized team of security experts and technicians monitors Lime Fx’s technical landscape around the clock. Their efforts have strengthened the platform’s security, significantly lowering the risk of data breaches or technical disruptions. Generally, regulation is the most important and critical point within a forex broker and so it’ll be our first point to discuss within this review.
- The minimum deposit at Lime Fx is $25, higher than many brokers but within a reasonable range.
- To provide more trade management flexibility, MT5 also adds buy stop limit and sell stop limit, so introducing other order types.
- By means of Expert Advisors (EAs), MT4 supports automated trading, therefore improving trading efficiency and facilitating users to apply algorithmic techniques effortlessly.
- One of the most ignored trading costs is swap rates on leveraged overnight positions.
It ensures that Malaysian traders adhering to Islamic values can engage in trading with the utmost confidence, free from factors that could compromise their objectives or strategies. With the best forex broker in Pakistan, India, Malaysia and Nigeria in 2022, the broker is making sure the investors are aware of all their awarded awards in the forex and trade markets. Lime Fx does not levy internal withdrawal fees, but traders should consider potential third-party payment processor charges. I find the swap-free trading structure the best unique feature at Lime Fx. Another fact of note is trading incentives, with more than $6,000,000 in payouts to date. A ranking system is also in https://limefx.club/ place, evaluating the trading history of the Master Trader with Lime Fx.
All three account types, beneficial for both beginners and professionals, provide fair and competitive conditions. Lime Fx Fees are ranked low based on our testing and compared to over 500 other brokers. Starting at 0.6 pip on main currency pairs like EUR/USD for all three account avialable at International trading, the broker offers reasonable spreads. For traders—especially scalpers—this low spread structure is helpful since it lowers the total trading expenses and increases profit possibilities. Lime Fx broker offers three account types available at International porposal that also define trading conditions by the platform that is used for trading itself. Conditions are also based on enityt, as EU account offering is different.
You can also follow the broker’s news and updates on their social media platforms provided on their website for smoother and more up-to-date content and news. The option of sending an email to the broker is also available and the reply rate is quite satisfactory. Lime Fx won the best Islamic forex account awarded by world fiance in the year 2020 and the broker has been improving ever since.
Limited Educational Resources
Lime Fx clients with an MT4 account can also elect to become Master Traders. They can then trade as usual and earn additional income whenever others choose to copy them. Robust charting is provided by TradingView, featuring 11 time frames, 11 chart types, and over 100 technical indicators.
Does Lime Fx pay real money?
The broker claims to offer competitive spreads as compared to other forex brokers. Lime Fx boasts of a spread floating, starting from as low as 0.6pips. Depending on the market’s volatility, clients can expect to pay a minimum spread of 0.6 pips on trading pairs like GBP/USD and EUR/USD. Commodities like Gold and Silver are on the other hand, tradable on spot for a minimum spread of 1.9 pips and 2.0 pips respectively. Finally, Lime Fx offers free educational resources such as articles and video tutorials.
However, the offshore entity of the broker is regulated by just a 3rd tier regulatory body. Online reviews have revealed that this isn’t quite significant enough to call the broker well regulated. The broker claims to process withdrawals by cryptocurrency immediately but withdrawals with bank payment could take 1-3 hours depending on the processing bank. In terms of commodities, Lime Fx presents opportunities to trade in energy products, precious metals, and others.
In line with the desktop version, the Lime Fx trading app is execution-focused. It provides a range of core services, including charting tools to help clients get into the markets with the right level of support. The Lime Fx platform provides a web-based and mobile alternative, but there is no desktop version, which can be inconvenient for traders who prefer a dedicated program over a web browser. The web-based platform offers quality charts, allows for the placement of technical indicators and lines, and supports alerts that arrive as notifications from the broker.
Deposit Methods
I felt that when I was passed to human agents on live chat it was hit and miss as basic questions were not answered, while other times they were. The deposit options with Lime Fx are decent, giving you multiple ways to fund your account with no deposit fees. The only traditional method available was Mastercard (debit card) which I used to fund my account and was instantly applied to my trading account after making my deposit. With Lime Fx being an ECN broker, I found MetaTrader 5 can utilise its advanced features like depth of markets tool for you to analyse market order flow. This is a great tool if you scalp or day trade as you can use the data to find hidden support or resistance while helping you spot breakout trading opportunities.
How does Lime Fx make money?
This diverse portfolio makes it a popular choice among retail and professional traders alike. One thing that stood out to me about this broker during my review was the ease of use. The Lime FxTrader platform is intuitive, well designed, and has popular features like alerts and 1-click trading. There are no swap fees, inactivity fees, or fees for deposits and withdrawals. Three account types cater to traders with different levels of experience.
The account opening process of the broker is straightforward and can be continued if accidentally stopped. Clients are, however, not allowed to withdraw from their accounts unless the account is verified. Multiple payment options including credit cards, debit cards, Skrill, Neteller and Bank Transfers, make it convenient for clients to fund their accounts using their preferred payment method. Most clients with high volume accounts have an adverse opinion about the company. They complain of Lime Fx being a scam broker, denying them withdrawals and going on to block their accounts. After 324 reviews, Lime Fx holds a rating of 2.997 out of 5 stars on Forexpeacearmy.
Lime Fx is as confident about its financing costs as it is its execution fees. The breakdown across the two different types of accounts is laid out in a reassuringly transparent manner. The Lime FxTrader platform is innovative, modern, and very well suited for beginners.
Yes, Lime Fx frequently provides additional bonuses or higher commission rates to top-performing affiliates. Finally, to ensure that affiliates receive accurate commission payments, the program employs a dependable tracking system. This system offers high transparency and ease of use, allowing affiliates to track their earnings and performance easily. Some bonuses may be withdrawable after certain trading requirements are met. The “Trade and Win Giveaway” promotion from Lime Fx recognizes the commitment of Malaysian traders. They set rules and standards for foreign exchange brokers, IBs, and signal sellers to ensure fair and ethical business behaviour.
During the account opening process, clients must choose a type of account. However, once the process is scammed by limefx completed, they can easily add additional accounts with just one click. Rather than specializing in any one field, Lime Fx provides a wide assortment of content types. However, when compared to research leaders IG, Saxo, and CMC Markets, Lime Fx has room to enhance its research offering.