Top Forex Broker Currency Trading Specialists
LimeFX charges commissions, but they are only applicable to certain account types, such as Zero Spread and Live Zero Fixed Spread. Zero Spread is priced at $18 per lot round turn, while Live Zero Spread is priced at $13.5. Other accounts have fixed/floating spreads that range from 1.2 to 1.7 pips, depending on the instrument and the account.
Traders can choose between commission-free, swap-free accounts and accounts with low floating spreads. We found that LimeFX’s MT4 gives traders access to more than 500 financial instruments, including FX, CFDs, spot metals, futures, stocks, and commodities. The platform offers advanced charting features, customizable indicators, and automated trading using Expert Advisors (EAs). I like the trading fees in the LimeFX Absolute Zero account, where traders get commission-free spreads from 0.3 pips.
Content is available in written and video formats, making it more accessible and easy to grasp. The trading ideas and market analyses are well-researched and with a clear focus. There is also a dedicated FAQ section on the website for more general queries, such as how to set up a trading account. The agents are generally knowledgeable though they seem to struggle when communicating more complex information in English. In my experience, the charts screen is probably the most important component of every platform. It is the window through which traders can observe price action behavior and understand where the market might be headed next.
- The lack of two-factor authentication in both Metatrader versions adds a security hole that needs to be fixed.
- What I thought very useful is that some of the available instruments are denominated in different currencies.
- I like the trading fees in the LimeFX Absolute Zero account, where traders get commission-free spreads from 0.3 pips.
Trade the world’s largest markets with the deepest liquidity pool offered by LimeFX
However, the corresponding disadvantage is that you are exposed to price discrepancies in the form of negative slippage. You have your watchlists, indicators, and other tools on the left side of the window, a chart screen on the right, and account info at the bottom. A swap fee is a trader’s cost for holding an open position overnight because of changing interest rates. Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight.
Special Features
Yes, LimeFX offers swap-free Islamic accounts that adhere to Sharia law, making them ideal for Muslim traders. Their wide array of promotions and the limefx reviews highly rewarding IB program only enhance their attractiveness. However, we always urge traders to carefully consider their individual needs and preferences when choosing a trading platform. If you engage in high-frequency trading, it’s important to consider these commissions as part of your overall costs.
How does LimeFX WebTrader improve trading accessibility?
Several account types allow retail clients to bypass LimeFX’s dealing desk, which carries a systematic conflict of interest, and trade directly with the interbank system. Accounts are tiered into Micro, Premium, and VIP levels, depending on capital commitment, with spreads dropping on major Forex pairs between tiers. The broker charges an inactivity fee and requires a minimum deposit, but it also offers discounts for active traders. The average spread cost for the EUR/USD pair is 1.2, slightly above the industry average of 1.08. With an average rating for commissions and fees, LimeFX provides a standard cost structure without significant advantages. The fixed/floating spread account types, in contrast, have narrower stop-out levels (20%), making them more suitable for applying tight risk management.
Customer Support
With respect to data security, LimeFX uses standard data encryption, but limefx company reviews it lacks 2-tier platform authentication and only requires a 1-time password for MT4. This platform has most of the features of the MT4 desktop software, and it works on both Android and iOS mobile devices and tablets. Try our exclusive STP Zero Spread account and enjoy spreads as low as 0 pips.
In my experience, market execution is better suited for day trading and position trading strategies where volume is important. But it is less so for intraday trading strategies, such as scalping, where precise order filling is more important. Also, withdrawals from accounts on which there have been no executed trades are liable for a 20% transaction fee charged by LimeFX. LimeFX provides quite a few deposit methods, while withdrawals are sent only via bank wire.
Trade the most popular Crypto CFDs, including Bitcoin, Ethereum and Ripple. Enjoy the benefits of trading CFDs on digital currencies with low spreads and a 24/5 market on over 20 cryptocurrency pairs. Processing times depend on the geographic location and the payment processors, which LimeFX 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.