For clarity, LimeFx used to accept clients from Europe, but not anymore. LimeFx accepts clients from all over the world, excluding USA, UK, European Economic Area and some countries from the OFAC list. If you decide to open an account with LimeFx, we will provide all the necessary steps in detail below.
LimeFx supports credit/debit cards, cryptocurrencies, ADVcash, and Perfect Money. My review did not uncover malpractice or fraud, and I rank this broker as a legit and safe brokerage with an excellent score for transparency.
LimeFx does not list bank wires as a deposit or withdrawal method, which surprised me, but I like the available selection of payment processors. Deposit payment processing times are instant, except for cryptocurrencies, which can take up to one hour. Traders should always use appropriate risk management with leveraged trading to avoid magnified trading losses.
- In today’s review, we will discuss all the necessary details for traders to know before opening an account with LimeFx and see what they offer.
- Perhaps most notable here is the pretty large selection of more than 400 individual stock CFDs to choose from, based on US and various European companies.
- But mobile apps come with downsides as they are generally limited by the number of available indicators and analysis tools.
Traders get the MT4/MT5 trading platforms as customizable desktop clients, lightweight web-based alternatives, and user-friendly mobile apps. I rank trading costs among the most defining aspects when evaluating a broker, as they directly impact profitability. LimeFx has two expensive, commission-free cost structures and one competitive, commission-based alternative. The fixed-spread account starts with https://limefx.name/ minimum spreads of 3.0 pips, or $30.00 per 1.0 standard round lot, versus the floating-spread alternative of 1.3 pips or $13.00. Both are expensive, but the commission-based ECN option shows raw spreads from 0.0 pips for a commission of $5.00 per round lot. LimeFx is an offshore CFD & forex brokerage company registered in the Cook Islands, Saint Vincent and the Grenadines, and Mwali in the Comoros.
Contacting customer support at LimeFx should also be a hassle-free experience in most cases. The broker has provided contact information for Telegram, in addition to a regular web-based live chat, email, and a UK phone number. The broker also assures clients that limefx scam their support line is open 24/7, which is something we appreciate. The spreads are dependent on the account type the trader is operating on. For ECN accounts, spreads start at 0 pips but for each lot, there is a small commission charged for each side of the trade.
Safety & Security of LimeFx
All instruments that are offered by LimeFx can be traded on either the MetaTrader 4 or 5 (MT4/MT5), which are the two only desktop trading platforms this broker supports. One positive consequence of not being regulated by any government agency is that the broker’s sign-up process is quite simple, without the need to submit and verify a lot of documents. Be aware, however, that the issue of document verification often arises when it’s time to withdraw money from offshore brokers. A Demo account enables traders to trade live markets with virtual funds.
MT4 and MT5 are two of the most popular professional platforms among traders the world over. They offer advanced features to analyze charts with various tools to choose from. Expert Advisors or EAs are allowed on both platforms, and LimeFx are even providing their own trading EAs for traders wanting to use trading robots.
The process is very simple and intuitive, just a few personal details will be sufficient to get you started. Commodities are known to be a safe haven during an economic crisis like the current global situation. LimeFx offer soft and hard commodities, as well as metals and other goods. There are 18 total commodities available as of now including oil, coffee, corn, wheat, and many others. No matter the economic status and situation, raw materials are always important and affect the economy of all countries.
Commodities trading on LimeFx
I like the overall range of assets, as it provides most traders withall they need to achieve cross-asset diversification. 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. LimeFx is a member of The Financial Commission, an independent external dispute resolution (EDR) organization. The interests of LimeFx’ clients are protected by the Financial Commission’s Compensation Fund for up to €20,000 per claim.
LimeFx fees compared to IG fees
These zero spreads are great for traders who love to open multiple trades throughout the day. Scalpers will love this option because of how important zero spreads are for making multiple small profits. LimeFx offers 24/7 customer support, and traders can reach out via e-mail, phone, Telegram, or live chat. LimeFx explains its services well, and I recommend the FAQ section before contacting support. I miss a direct line to the finance department, where most issues can arise. In conclusion, we consider LimeFx to be a decent choice for people who feel comfortable trading with forex brokers based offshore.
LimeFx BITCOIN account
Regulated by any authority is already a big thing for Forex brokers, but having only one overseeing authority is still not enough. In today’s review, we will discuss all the necessary details for traders to know before opening an account with LimeFx and see what they offer. This feature was designed specifically for traders who use several accounts, and for Investment managers who manage multiple Investment accounts. Besides research from Autochartist, LimeFx publishes quality in-house research with actionable trading recommendations.
Both trading platforms also give access to a vast library of automated trading strategies (“Expert Advisors”) and technical trading indicators via a built-in marketplace. In order to withdraw money from your account, you will need to verify your account and your payment method. Just log in to the account that you will be using as a payment method and screenshot the account, then send it to LimeFx support. After this process is done and everything is verified, users will be able to withdraw their funds.
