LimeFX Review 2024: Read Before You Trade

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LimeFX offers a variety of trading instruments, including CFDs on all the major asset classes— forex, commodities, indices, shares, and cryptocurrencies. LimeFX has a strong selection of CFDs on cryptocurrencies, numbering 30 in total. LimeFX offers the full MetaTrader suite, albeit with a fairly limited offering of tradeable instruments. There’s no question – if LimeFX wants to compete with the best MetaTrader brokers, it needs to make improvements in its range of products and its research and education. Features like its trading glossary, platform tutorials, and dozens of Frequently Asked Questions (FAQs) help to flesh out LimeFX’s educational offering.

Various drawing tools, from trend lines to Fibonacci retracements, are also available. Popular features such as 1-click trading, alerts, and watchlists are available. Traders can access all basic order types (market, limit, stop loss) via the platform.

It is the same as commission-based brokers offering raw spreads of 0 pips for a commission of $6. I rank LimeFX among the best-priced ones, and LimeFX delivers on its statement to help Forex traders earn more. This broker has many qualities suited to beginners but can also cater to experienced traders with the advanced features of MetaTrader. The global entity is unregulated, and this means clients benefit from fewer account protections.

MetaTrader 5 Mobile App

We also take an in-depth look at each broker’s commissions and fees, such limefx scam as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points. Traders conduct all financial transactions from the secure back office, and LimeFX does not charge deposit or withdrawal fees.

1. This is because the swap has been replaced with a periodic administration fee meaning you receive a charge every certain number of days you hold your position open.
2. Regarding education, there are platform tutorial videos and a basic forex trading course, which would probably be okay for absolute newbie traders.
3. 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.
4. To do this, we take the Forex Fees and the average spreads brokers publish on their website and compare them with the spreads LimeFX public on their website.

Investment Products

LimeFX has improved its educational offering with webinars and live trading session recordings and expanded its educational articles limefx forex broker and videos. I appreciated that it has begun producing videos on advanced topics, such as Elliot Wave trading. LimeFX has struggled with pricing in the past, but has vastly improved in this category and is now gaining on the lowest-cost MetaTrader brokers. In addition, LimeFX boasts no slippage on 97.5% of its executed orders, and no overnight carry costs, yet has restrictions in place that can hinder high-frequency traders. LimeFX offers barely 277 tradeable instruments, which varies by platform, with the most on its MT5 offering.

Deposits

I highly recommend the MT5 trading account for equity traders and MT4 for Forex traders due to its superior tools for algorithmic traders. LimeFX classifies the MT4 trading account for the Traditional Trader and MT5 for the Innovative Trader. LimeFX segregates client deposits from corporate funds and offers negative balance protection. LimeFX also has been catering to clients from over 100 countries for over a decade. The broker is regulated by Cyprus’ CySEC (Cyprus Securities and Exchange Commission), which means it can offer trading services to all clients in the EU. CySEC must comply with the same requirement set by ESMA (the financial body for the EU) that all financial regulators within the EU borders must follow.

Traders may open MT4/MT5 demo accounts at LimeFX, and there is no time limit on active accounts. The MT4 demo account will expire after eight days with no trading activity and the MT5 demo account after 30 days. The flexibility of MT4/MT5 allows traders to select their deposits and leverage, creating more realistic demo results. 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 of how long a trade remains open.

This is because the swap has been replaced with a periodic administration fee meaning you receive a charge every certain number of days you hold your position open. LimeFX excels in research, offering regularly updated commentary written by in-house analysts and trading ideas. In addition, clients can utilize research from third-party provider AutoChartist.