LimeFx is the first Forex broker to obtain a license from the Bank of Russia at the end of 2015. It is one of the few local currency brokers, along with VTB24 Forex https://limefx.group/ and Gerchik & Co, and Alpari, although the latter is a much larger company. LimeFx applies a minimum trade size for all its accounts of 0.01 lots (micro lot).
- In another attempt to understand the services and standards of LimeFx as a brokerage service, it is important to do a comparative analysis of LimeFx with other trading platforms.
- Personal account on LimeFx might not be considered to have the purest design or be as user friendly as possible, but its structure is quite intuitive.
- The advantages of CQG Desktop include DOM Trader, which is a rather advanced version for web platforms.
- In the last 10 years, MT4 has maintained its position as the main platform for traders, due to its stability, versatility, and ease of use.
- The account opening procedure is very fast and straightforward when it comes to the LimeFx brokerage platform.
- Those who already have some trading experience
can opt for the Forex ECN account, which
delivers the greatest execution speed and extremely low spreads that begin at 0
pips.
As an online broker LimeFx provides direct access to customers in multiple trading assets of the financial markets. From forex, stocks, futures, bonds, metals, and Cryptocurrencies, LimeFx offers numerous trading options to its potential clients. Along with the security of investment and funds, the second advantage of LimeFx is that it provides trading options in many asset classes. Even when major online brokers do not offer trading options in futures and bonds, LimeFx also provides services for these assets as well. Similarly, not just in terms of trading instruments, LimeFx is also diverse in the account types it offers.
LimeFx Spreads, Fees, and Commissions
There are many benefits of trading with LimeFx brokerage company, however, one flaw is in the withdrawal procedure of this company. Even though the broker claims to provide instant withdrawal options to the customers, the customer’s reviews state otherwise. Many clients have disapproved of the withdrawal services of this broker. Like any other brokerage firm, LimeFx also provides helpful customer services to clients. Hence, LimeFx users get professional consulting services as well. In forex trading LimeFx claims to offer tight spreads from 0 pips just like any other reputable software.
Education and research at LimeFx are primarily offered
through a partnership with Trading Central. Trading
Central is a global fintech leader founded in 1999, whose aim is to help
investors make better trading decisions. It achieves this by fusing together
analyst research with automated analytics such as pattern recognition trading
software on a wide variety of markets and in multiple languages. Lightspeed Trader
is another platform favoured by professional traders who require highly
established market data with ultra-low latency and performance. Ezekiel Chew the founder and head of training at Asia Forex Mentor isn’t your typical forex trainer. He is a recognized expert in the forex industry where he is frequently invited to speak at major forex events and trading panels.
Methods of withdrawal and fees
The first and foremost concern of any investor is to affiliate with a broker that is genuine and legit. Therefore, LimeFxr’s regulation with Cyprus Securities and Exchange Commission (CySEC) and European Securities and Markets Authority (ESMA) is the biggest plus in the favor of this broker. The AFM evaluation has set standard criteria for the evaluation procedure of various brokerage firms. Since there are few decisive indicators of an effective and competent online broker, each broker is measured and examined through this yardstick. The set standard remains the same for the brokers so that there is no prejudice or bias while the evaluation process takes place.
LimeFx+ is a browser-based platform that has some powerful features which are similar to level II data. The traders and clients of LimeFx can use the mobile platform. Other platforms for trading include Sterling Trader Pro, which has option tools and shows real-time market data as well.
Sterling Trader® Pro
Only third-party charges are applicable when clients withdraw funds from this platform. Moreover, even in cryptocurrencies, the withdrawal amount is less than many other brokers which is 2% of the total withdrawal funds. As we already mentioned, ROX accounts types (it can also be called US Exchanges or Global Markets) and CQG accounts (aka Global Futures) are serviced by a special department inside the broker’s structure. They are less popular and the information about them is less extensive. During the second step, which is titled Economic Profile, you need to specify information about your employment, level of income, trading experience in the financial markets. You will be provided with a login to the demo account, which is a simplified version of the real personal account.
A major part of any broker’s legitimacy and reliability depends upon the legal framework it follows. Hence, LimeFx can be said to be a trustworthy name when it comes to legit online brokers. Overall, the family of CQG platforms presents a professional solution for working in the financial markets. The biggest disadvantage of CQG compared to Metaquotes products is a fee for use, although advanced traders will agree that quality software that provides an advantage in trader deserves to be paid for. LimeFx is an experienced broker that provides a wide variety of services, products, and trading platforms.
We estimated LimeFx commission on the Forex market as very low. Too long verification, regular technical failures, problems with the execution of transactions – and these are not all the disadvantages of working with this broker. Top10stockbroker.com & Indianfranchisereview.com are websites under Medmonx Enterprises Private Limited. We are certified stock broker review & comparison website working with multiple partners. However, LimeFx lacks traditional filters and tools since it caters more to traders who do higher-volume trading. Based on the user experience, the following rating and reviews are provided.
Deposits and Withdrawals
They both get used to their vast customer-supportive designs and excellent functionalities. It is a reputed, award-winning platform for trading that allows trade executions at reasonable prices. To start limefx official site trading with LimeFx, you will have a choice to choose from GBP, EUR, USD, and more currencies, and select 20+ funding methods including Bank Wire, Credit/Debit cards, Skrill, Neteller, etc.
Swaps on Forex
From Monday to Thursday, 9-6 pm EST is the available time for customer support, and on Friday, the timing is 9 am to 5 pm EST. LimeFx delivers varieties of accounts depending upon the Traders’ financial requirements. A customer needs to have a minimum balance of $2500 to start trading. However, higher ratios are available for professionals, thereby proving its efficiency and its status as a trusted trading platform. In the per-share plan, there has to be a minimum of $2500 in the trading account, and once the approval comes, the commission gets decided according to the trading volume per month.
MetaTrader 5 – MetaTrader5 trading platform is
a perfect choice for an active trader. The platform enables trading in the
single-window mode on major stock and futures exchanges and the Forex market,
making transactions with stocks, currency, futures and CFDs. MetaTrader 5 is
offered with the MT5 Global account and can be used as a desktop, mobile, or
web app.
The desktop trading platform makes use of images, pins, and phrases for better security of the user and its information. This also facilitates re-earning the money in case the broker turns bankrupt. It is a regulated broker-dealer and is a part of FINRA, SIPC, NFA, as it’s a member.
Hence, protecting the consumer leverage ratio is way smaller than Forex offered before. This browser-based platform has some powerful features which are similar to level II data. LimeFx requests four different platforms, which include MetaTrader4 and MetaTrader5, CQG, and ROX. Two out of these named MetaTrader 4 and 5 are well-known because they are most used by the traders.