Lime Fx Review

The trading competition might also be an incentive to open an account, and the broker’s support for the popular MT4 platforms seems to be the best feature of this broker. While Lime Fx offers sizable first deposit bonuses, that bonus money cannot be withdrawn. Also, pricing for most services is slightly higher or on a par with other major forex brokers. The lack of 2-tier platform authentication and guaranteed stop-losses could be a problem if your account gets hacked or your stop-loss gets filled in a volatile market.

Trading with a regulated broker will limit the potential for fraud and malpractice. I always recommend traders check for regulation and verify it with the regulator by checking the provided license with their database. The Lime Fx group presents clients with two regulated trading entities and maintains a secure trading environment.

Step 8: Try automated MT4 trading

Brokers operate multiple entities because it allows them to serve clients worldwide. However, licenses obtained by regulators in different jurisdictions do not always entail the same degree of protection. Some regulators mandate compliance with the strictest financial frameworks, whereas others are less rigid. That is why traders need to familiarize themselves with the safety mechanisms ensured by the entity they want to open an account with beforehand. Plus, while some deposit methods are free, be cautious of certain withdrawal techniques that might incur high fees.

Does Lime Fx Offer Sign-Up Bonuses?

What I thought very useful is that some of the available instruments are denominated in different currencies. For instance, you can trade limefx review XAUUSD (Gold vs. US Dollar) or XAUEUR (Gold vs. Euro). Traders can avoid paying conversion fees when trading with instruments denominated in their account currency. The mobile app affords traders quick and easy access to the market on the go. I checked the usability of the mobile app version of MT4 by testing how long it would take me to do just that.

• Lime Fx also offers the Cent account with which clients can start with fewer funds and smaller lot sizes.
• I rank trading costs among the most defining aspects when evaluating a broker, as they directly impact profitability.
• Traders can also choose between nine live flexible accounts, including a low-deposit Cent Account that appeals to beginners who prefer to make smaller trades measured in micro-lots.
• The copy trading tool is excellent for beginners looking to learn from seasoned traders while experienced investors can generate an additional revenue stream.
• They also offer the free Lime Fx Research app, which has no trading functions.

Lime Fx opened for business in Cyprus in 2010 and has now expanded into more than 180 countries. In addition to EU regulation through the Cyprus Securities and Exchange Commission (CySEC), they are licensed as a registered investment firm in the United Kingdom, Australia, and South Africa. Lime Fx has closed down operations in China, Russia, and Nigeria in recent years, focusing client development in more traditional venues. Reviews of Lime Fx highlight both positive and negative experiences that can influence your decision to trade with them. After submitting your personal details and verification documents, your account is usually ready for trading within 24 to 48 hours. This website is not directed at EU residents and falls outside the European and MiFID II regulatory framework.

Lime Fx’s Non-Trading Fees

My tests indicate that Lime Fx’s floating spread accounts are slightly more competitive than the fixed spread alternatives in normal market conditions. However, this may change at times of heightened market volatility as floating spreads tend to rise at such times. In general, Lime Fx’s offering is slightly more competitive limefx scammers than the industry average. Traders can choose between commission-free, swap-free accounts and accounts with low floating spreads. Join Lime Fx in 3 easy steps and experience a bespoke trading environment with best-of-market spreads and the widest range of trading instruments. For a wider range of asset classes, you might want to look for a different online broker.

• For any withdrawal problems, contact customer support on one of the channels described further below.
• I have been trying to salvage some of my money ,the so called adivice lose £1000 don’t ask me how and Lime Fx won’t say.
• The ECN Account provides you with access to tight spreads and requires paying a commission on trades.
• There are no deposit fees (coverage for wire transfer charges for deposits over 10k USD).
• To evaluate brokers, we test the accounts, trading tools and services provided.
• With a wide range of financial instruments available, including forex, commodities, and indices, you can access diverse markets to enhance your trading experience.

Tradable Instruments

In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight. In our reviews, we examine the licenses and regulations of each entity operated by a broker. We rank licenses by various regulatory bodies on a three-tier system, where Tier-1 licensing indicates the highest level of regulation. Background information on Lime Fx reveals a complex regulatory landscape.

ECN Accounts

Phone support is available only to active clients with their account managers. Customer support via live chat is available in English, French, Spanish, Chinese, Japanese, Korean, and Farsi. Before you connect to an agent, you have to provide your name, email, and account number (if applicable), and choose a preferred language. Lime Fx operates through three entities, with two regulated by the FCA in the UK and the FSCA, and one entity remains unregulated. I found the broker to be generally transparent, with information about fees easily accessible on their website.

Processing times depend on the geographic location and the payment processors, which Lime Fx lists as between one and ten business days. There are no internal deposit or withdrawal fees, except for traders who request a withdrawal without placing a trade, which carries a 3% fee. Traders must ensure they execute risk management to avoid magnified losses. Lime Fx offers negative balance protection, meaning traders can never lose more than their deposits. Lime Fx notes the availability of 80+ currency pairs, making it an ideal Forex broker.

Lime Fx User Experience

I like the trading fees in the Lime Fx Absolute Zero account, where traders get commission-free spreads from 0.3 pips. VPS hosting exists for algorithmic traders and copy trading services are also available with a balanced asset selection and active trading community. FxScouts helps traders across the globe by meticulously testing and reviewing online brokers and providing Forex education and market analysis. While partners may pay to provide offers or be featured, they cannot pay to alter our recommendations, advice, ratings, or any other content.

Each demo account imitates real trading conditions, the only difference is virtual money is used. Also, the broker charges a sizeable 3% of deposited funds when withdrawals are requested during periods of inactivity. Lime Fx is a forex and CFD broker that is headquartered in Cyprus and also has offices in the UK, South Africa, and elsewhere. The company serves traders globally and is regulated in several jurisdictions, including FCA and FSCA, along with one unregulated entity. Essentially, the broker lends the trader money so that the latter can open bigger-sized positions.