Lime Fx Review Trusted Broker? Pros, Cons & Spreads

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broker Lime Fx

Lime Fx equips traders with essential research tools and educational resources, ensuring a well-rounded trading education and informed decision-making through comprehensive market analysis and strategies. Lime Fx commission fees are competitive compared to other online brokers with similar ECN Account types. As shown in the table below, RAW Account holders pay $3 per side, per 100k traded, while most brokers charge $3.50. Lime Fx’ RAW account offers ultra competitive raw pricing,  especially for AUD/USD and EUR/GBP, with spreads at 0.20 and 0.30 pips respectively. When trading Lime Fx commission-free spreads, MetaTrader 4 and MetaTrader 5 are available as trading platform options, and for those located outside Australia and the EU, cTrader is also an option.

Hi Clement, If you have an account with Lime Fx Australia then I would expect you should be able to use the IRESS account. As I understand it, it’s only the Lime Fx subsidiaries outside Australia that don’t offer IRESS, so in your case I don’t believe you should need to use the VPN. Having traded since 1998, Justin is the CEO and Co-Founded CompareForexBrokers in 2004. Justin has published over 100 finance articles from Forbes, Kiplinger to Finance Magnates. He has a Masters and Commerce degree and has an active role in the fintech community. Lime Fx is overseen by two top-tier financial authorities, being the Australian Securities and Investment Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC) in Europe.

The Iress platform suite offers well over 10,000 tradeable symbols, but it’s mostly a share trading platform – and is generally a much pricier option. With 71 forex pairs and a total of 10,000 tradable symbols, far surpassing the industry average of 3,623, the broker offers extensive trading opportunities. Dan Blystone began his career in the trading industry in 1998 on the limefx reviews floor of the Chicago Mercantile Exchange.

List of Top Forex Brokers & Trading Platforms

  1. The Lime Fx Traders Hub provided daily research and trading ideas, presented in a quality format.
  2. The layout of the platform is fully customizable and can be adjusted by using a drag-and-drop method.
  3. Clients may reach out via e-mail, live chat, phone, or the call-back option.
  4. While the overall platform and tools are rated as average, the choices available, including both MetaTrader options, cTrader, and a proprietary platform, align well with traders’ needs.

Lime Fx has an overall trust score of 60 based on regulation, reputation, and reviews. Our broker reviews are reader supported and we may receive payment when you click on a partner site. It maintains an elevated level of transparency and has established itself as a reliable broker.

On top of this, you can trade cryptos directly from the popular TradingView web platform, making Eightcap a top choice for crypto traders. Lime Fx caters to traders with a robust selection of trading platforms, offering flexibility and user-friendliness across devices. Besides the build-in MT4 copy trading functionality, Lime Fx partnered with Myfxbook Autotrade, also available from within the MT4 trading platform. The most recent expansion includes a proprietary copy trading service, Lime Fx Copy Trading. VPS hosting is available, but minimum requirements exist to receive it free of charge.

One of my favourite research tools from Tickmill is its Market Sentiment dashboard which provides multi-asset news and sentiment visualization on more than 80,000 instruments. You can view the sentiment of an instrument on a daily or hourly basis and adjust the confidence levels on predicted sentiment levels. You can download it on iOS and Android devices, and just need your account number and password to log in. You open and manage accounts from the Lime Fx client portal area, which can also be accessed from the mobile app.

So, after spending two months diving into the Lime Fx platform, here’s the breakdown from a trader’s perspective. You’ll need to provide basic personal information, upload some ID documents for verification (KYC compliance), and choose your preferred account type and trading platform. Regulatory bodies also impose capital adequacy requirements on brokers. This means Lime Fx must maintain a minimum level of capital reserves relative to its liabilities. Healthy capital reserves act as a buffer, further mitigating the risk of Lime Fx facing financial challenges that could impact your ability to withdraw funds. A critical aspect of Lime Fx’ financial stability is client money segregation.

broker Lime Fx

Providing a Secure Trading Environment

A fixed spread account means that the spread (the difference between the buy price and the sell price) is always the same. Floating spreads mean that the spreads are based on the underlying market. An STP/ECN account means that price quotes are sourced from the interbank market and are sent straight through to the market. Cryptocurrency enthusiasts can delve into popular digital assets like Bitcoin, Ethereum, Ripple, and more. Additionally, traders can invest in a wide range of global stocks, explore fixed-income securities with bonds, and employ sophisticated strategies with options trading.

Lime Fx offers competitive no commission spreads, as low as 1.1 pips for the frequently traded EUR/USD forex pair. From a customer support perspective, Lime Fx delivers across the board. Clients may reach out via e-mail, live chat, phone, or the call-back option. A quality FAQ section answers many questions, and most traders may require additional assistance only during emergencies. Here is a screenshot of a live Lime Fx MT4 trading account during the London-New York overlap session, the most liquid one, where traders usually get the lowest spreads. Trading fees have the most notable direct impact on any strategy, and Lime Fx offers two pricing models.

During our live test, I discovered more limefx scam than 50 charting tools and more than 80 technical analysis indicators, with all the most common indicators ready to use. I also discovered there are a range of order types that are not available on other platforms and some that are new to me. For example, the platform has an in-built real-time, automatic pattern recognition detector. This means you can easily identify candlesticks and chart patterns using AI technology.

Lime Fx offers the Iress platform suite for share trading, but MetaTrader is the primary platform option for forex and CFD trading. With support for Autochartist plugin integration as well as platform add-ons from FX Blue as part of its Trader Toolbox offering, Lime Fx is a great choice for traders who want to use MetaTrader. Lime Fx’ excellent MetaTrader offering had it finishing Best in Class for MetaTrader in our 2024 Annual Awards. Lime Fx also earned Best in Class honors for Commissions and Fees in our 2024 Annual Awards. It’s worth noting that Lime Fx’ share CFD offering on Iress provides Direct Market Access (DMA) in terms of its pricing and execution process, including full depth of book available within the platform.

Account Opening

As you can see from a summary of four of the seven accounts offered by Lime Fx, there is a wide variety of differences. Many traders prefer to trade via an STP or ECN execution method, as your trades are sent directly to the market without any broker intervention. In my experience, having the ability to access a wide range of research tools can help to execute high-probability trades. As a trader, you want to research a market from all angles to avoid making trading decisions based on what you want to see or want to happen. The user-friendly FxPro Trading platform and app cater to beginners and casual traders, while the robust MetaTrader 4&5 and cTrader are better suited for advanced and algorithmic traders.

Clients may access all available options from their back office, where Lime Fx lists all payment processors transparently. The availability depends on the country of residence, and not all traders may have access to all payment processors. Lime Fx offers Islamic traders the option of opening an Islamic account. Supporting documentation proving Islamic status may be required from the client in some cases.

What does a forex broker do?

Lime Fx is a trustworthy and reliable broker, best suited for pure Forex traders who seek a competitive commission-based trading environment from an upgraded MT4 trading platform. The Lime Fx Traders Hub provided daily research and trading ideas, presented in a quality format. Streaming news service is available as one of the twelve plug-ins for MT4, offering traders a valuable service embedded with the trading platform. New traders can benefit from educational resources, including webinars and videos. Lime Fx also offers an Academy for traders, providing trading courses, live webinars, podcasts, trading guides, and more. Overall, the research & education at Lime Fx are of high quality and add value to the core trading environment.

Commodities, indices, and cryptocurrencies remain free of additional costs, which remain included in the markup. Equity CFDs and DMA traders face a fee between 0.06% and 0.30% with a minimum of $10 or a currency equivalent. The equity trading charges depend on the country of the listed underlying asset, and the pricing environment remains average compared to other brokers. We also take an in-depth look at each broker’s commissions and fees, such 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. Lime Fx provides an extensive range of research and educational materials useful for beginner traders who are just starting out.

13 Best Forex Brokers for 2024

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broker Lime Fx

Lime Fx offers its clients the advantage of no deposit or withdrawal fees, coupled with a broad selection of payment methods including credit cards, debit cards, bank transfers, and e-wallets. Lime Fx has a low minimum deposit and offers a range of fee-free deposit and withdrawal methods. From advanced tools that facilitate automated and social trading to services that ensure the stability and efficiency of trade execution, these additional offerings cater to the diverse needs of traders.

Lime Fx’ comprehensive offerings cater to a variety of trading preferences and strategies. Lime Fx provides traders with a wide selection of advanced trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, Mottai, Iress, TradingView, and the Lime Fx trading app. All 4 Lime Fx mobile apps are optimized for mobile phones and remain user-friendly. They are ideal for monitoring portfolios on the go, managing existing positions, and copy trading. Given the relatively small screen, mobile apps are best for portfolio management rather than complex trade analysis, but MT4, MT5, and cTrader offer advanced, technical, analytical suites. None support algorithmic trading, only available on the desktop versions of MT4/MT5 but included in the cTrader web-based platform.

Competitive and Transparent

Lime Fx strives to provide valuable educational and research resources to its traders, although there is room for further enhancement and expansion in comparison to certain industry leaders. Overall, Lime Fx offers a competitive fee structure, as well as transparency, and flexibility. Traders can benefit from cost-effective trading while knowing what to expect in terms of fees and charges. Withdrawal fees are transparent, ensuring traders know what to expect. Lime Fx earns a top-notch rating in trust and safety due to its extensive regulation, comprehensive fraud prevention measures, and stringent client fund security protocols.

broker Lime Fx

Does Lime Fx accept Canadian clients?

That said, the broker’s Iress ViewPoint account option is less affordable, and is geared towards active traders with high-balance accounts. In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews. During our live test, I found that Lime Fx provides access to seven different types of trading accounts.

I find these are no-frill mobile apps and not very useful for technical analysis, but ok for managing positions and opening or closing a trade. You can also trade from an ECN raw-spread account, which provides interbank pricing and spreads from 0.0 pips. However, there is a commission of 3.50 USD per lot per side limefx scam when trading from MetaTrader or a 3.00 USD commission per 100,000 units of currency traded when trading from cTrader. If you’re looking for a forex broker that provides an excellent range of cryptocurrencies and specific crypto trading tools, then Eightcap could be an option for you. Authorized and regulated by the UK FCA, ASIC, CySEC, and the SCB, Eightcap enables you to trade 100+ crypto CFDs that cover all the major coins and altcoins. Additionally, you can access the Crypto Crusher dashboard for daily trade ideas.

Best brokers for US traders

New traders should familiarize themselves with the top menu icons, which offer several advantages. The user interface is the same as when MT4 launched in 2005, featuring a dated design, but plug-ins exist to change it. Trading with MT4 is simple and does not require a lot of time for new traders to learn. Here is a screenshot after launching the Lime Fx MT4 trading platform following installation, without modifications.

However, the variety of instruments and potential for high leverage might be overwhelming for complete beginners. Everything is laid out clearly on their website – spreads, commissions, the whole shebang. This transparency allows you to compare costs and choose the account that best fits your trading needs.

Generative AI tools are not a part of our content creation or product testing processes. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry. Adding more advanced video courses would only serve to improve Lime Fx’ educational experience. Illiquid instruments can lead to wider spreads and difficulty entering or exiting trades when you want.

How to verify if the broker offers a segregated fund?

  1. Adding more advanced video courses would only serve to improve Lime Fx’ educational experience.
  2. Guaranteed stops are typically not available with ECN brokers due to the fast-moving nature of the market.
  3. This is better than the industry average of 1.0 pips for a commission-free trading account.
  4. Lime Fx has been building out its educational offering, now providing webinars, beginner and advanced videos, and podcasts, but there remains much room for improvement to compete with best-in-class brokers.

Areas we scored Lime Fx the highest were excellent customer service (9/10), great educational resources (8/10) and a wide variety of funding methods (8/10). Beginner traders have access to quality educational content, in-house research, services provided by Trading Central, copy trading, and retail account management. Other costs traders must consider are swap rates on leveraged overnight positions.

Lime Fx also maintains the MAM/PAMM module, enabling retail account management. A built-in copy trading function is equally available across MT4/MT5 and cTrader, which all support algorithmic trading. MT4 is the market leader for automated trading solutions, while many consider MT5 the failed successor amid a lack of backward compatibility. First Prudential Markets LTD remains authorized by the Cyprus Securities and Exchange Commission (CySEC), a leading tier 1 Forex regulator. EEA traders get an investor compensation fund limited to €20,000 per client.

The broker’s fees for futures trading remain competitive, allowing traders to engage in this asset class efficiently. The main reason to use IRESS is to access Lime Fx full range of stocks and to use DMA trading. If you are looking to trade stocks outside Australia with Lime Fx then you are best to use the MT5 trading platform or consider TMGM who have IRESS outside Australia. Regulated by ASIC and CySEC, and offering international services under offshore regulation, it ensures a secure trading environment. However, traders outside Australia and Europe should be mindful of regulatory differences.

Swap-Free Account

Usually, you can test each account first using a demo trading account before opening a live trading account. There is a range of fees that you should be aware of and check when choosing a forex broker to trade with. Choosing a safe, well-regulated broker that has competitive fees and easy to access to the markets is essential to competing in the world’s foreign exchange market. On top of the factors already discussed in this guide, you should also pay attention to the following points outlined below. Fintech giant Plus500 has recently expanded into the United States to offer futures trading via its state-of-the-art WebTrader platform. US clients can access futures contracts on forex, indices, commodities, bonds, and cryptocurrencies.

However, if you heavily rely on social sentiment analysis or require a proprietary platform, you might need to explore other options. Lime Fx is a well-established online broker offering forex and CFD (Contract for Difference) trading services. Headquartered in Sydney, Australia, they’ve carved a niche in the online trading space.

Lime Fx enhances its trading environment with a suite of features and add-ons designed to support and enhance the trading strategies of its clients. Saxo Markets offers a better spread on the AUD/USD pair at 0.9 pips, which is slightly tighter than Lime Fx’ 1.2 pips. However, Lime Fx holds its ground with tight spreads in other pairs, such as EUR/GBP and EUR/JPY. Lime Fx maintains 21 withdrawal options, including bank wires, credit/debit cards, Neteller, Skrill, Fasapay, Paytrust88, Ngan Luong, and broker-to-broker transfers. Clients can access the trading tools from the back office of their trading account.

broker Lime Fx

Easy-to-digest materials help new traders orient themselves in the world of futures trading. If you’re looking for the best research tools to aid in your trading decisions, then look no further than Tickmill. Founded in 2014, Tickmill has entities authorized and regulated by the UK FCA, CySEC, FSCA and the Labuan FSA. You can access research tools such as Signal Centre, Acuity limefx reviews Trading, a Market Sentiment dashboard and the Tickmill Traders Club.

Forex Online Trading Platform & App Review

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broker forex Lime Fx

From my perspective, FXTM stands out as the better choice for UK forex traders. FXTM is FCA regulated, ensuring that UK traders receive the highest standards limefx website of protection and security. While both brokers serve the UK market, FXTM offers a more tailored experience for UK traders, with a focus on local needs and preferences.

App support

Lime Fx’s mobile trading apps, available for both MetaTrader 4 and MetaTrader 5, offer full functionality, mirroring the capabilities of the desktop and WebTrader platforms. Whilst a decent choice for new traders we think advanced traders may find Lime Fx lacking advanced trading tools and wish a RAW-style account was available. Lime Fx is regulated ASIC in Australia, CySEC in Cyprus and IFSC in Belize so if you are in the UK, you might be better off considering a different broker. Yes, Lime Fx is a truly great Forex broker with years of experience in the financial markets.

  1. For more insights on the best brokers for UK traders, here’s a comprehensive guide on the Best Forex Brokers In UK.
  2. Deposits and withdrawals are essential parts of trading on a brokerage platform.
  3. Moreover, Lime Fx, unlike FXTM, was founded overseas but has made significant inroads in the Australian market.
  4. First, there is only one base currency option for this type of account – USD.

Comparing Lime Fx fees with other brokers

Traders can have access to all of these available assets with any account. However, keep in mind that shares can only be traded with the special Shares account. One of the policies that Lime Fx follows is negative balance protection, which is specifically important for those who use leverage when trading.

Especially those who do not want to download additional applications to their computers. The Standard account is pretty much a great choice for traders of all interests. It offers you access to almost everything that other account types do, except the fact that you can’t trade real stocks with this account, rather, you will have access to CFDs. This type of account is very popular in the Forex trading market and is widely used by both beginner and experienced traders. Apart from this, Lime Fx also keeps the funds of its clients in separate bank accounts. This means that no matter what goes wrong, traders will be able to access their funds.

Online Forex Trading

FXTM provides prompt service, yet customer support teams are only available 12 hours a day, 5 days a week. The broker can be contacted via live chat, phone, email and social media platforms such as Facebook and Twitter. As well as spreads and commission fees, Lime Fx and FXTM traders will incur swap fees for positions held open for longer than one day. Also known as overnight financing fees, swap rates are derived from interest rates for each currency pair involved in the trade. FXTM is a no dealing desk (NDD) broker with orders processed using straight-through-processing (STP).

It is also licensed in Cyprus, which allows it to offer services throughout Europe, and Belize’s FSCA, which is an international regulatory body. After some thorough and detailed analyses of everything that Lime Fx has to offer, we are very glad to say that this broker can easily be trusted by traders around the world. Lime Fx has done its absolute best to ensure that every single customer finds something they might be looking for in this broker. During the registration process, one of the questions is which trading platform you want to use.

You can trade crypto pairs, such as BTC/USD and ETH/USD; or crosses, such as BTC/XRP. This variety allows traders to gain access to many assets, thereby allowing them to maximize their trading strategies. Both brokers offer the choice of commission-free and commission account spreads. As explained in the section below, Lime Fx and FXTM offer a significant number of account types with different spreads depending on a trader’s location and the trading platform they use. As spreads are much narrower than standard account spreads, traders pay round-turn commission fees of $7 when trading with Lime Fx and from $4 when trading with FXTM. While Lime Fx and FXTM provide reasonable ECN-style spreads, brokers such as Pepperstone and IC Markets offer better pricing with tighter spreads and low commission fees across all major currency pairs.

Leverage is quite a useful thing for Forex traders, as it can amplify the profits made during trading. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. Lime Fx Group is a trusted MetaTrader-only broker that offers an outstanding selection of high-quality educational content and market research.

broker forex Lime Fx

We employ both manual assessments and automated testing through Expert Advisors, Indicators, and Scripts to ensure accurate and unbiased evaluations. Although a good range of contact methods are offered by Lime Fx, there is no customer support available on weekends. MetaTrader 4 on limefx Lime Fx is tailored for forex traders looking to develop and execute automated trading strategies. Lime Fx offers traders the choice between MetaTrader 4 (MT4) and MetaTrader 5 (MT5), each catering to different trading needs.

But, in case you have changed your mind, you can contact the representatives of the broker and use a different one. If you are a trader looking for the opportunity to directly invest in stocks, there is a great offer waiting for you at Lime Fx. For stock investors, Lime Fx has created a special account type called a Shares account. Beginner traders can use a demo account as a way to learn more about the Forex trading market. Experienced traders can find a demo account useful for testing out new trading styles and finding out what works best for them.

Established in 2009, Lime Fx has managed to become one of the leading Forex brokers in the world in just a decade. The broker offers traders safe, secure, and diverse trading opportunities that can fit the interests of traders with different levels of expertise and knowledge of the market. The broker offers everything from simple Forex guides to different types of educational courses and videos that provide beginners with very detailed information about the market. The broker has adopted modern technology to ensure that the clients are able to start trading in a short time after registration.

What Influences Prices in Forex Trading?

Although spreads are wider than ECN Accounts, traders only pay the spread with no additional commission costs incurred. Both Lime Fx and FXTM offer multiple no commission account types with different lot sizes and minimum deposits. The mobile trading platform allows traders to gain access to multiple tradable assets, including forex, crypto, and CFDs. Lime Fx offers the best customer support with 24/5 customer service, excellent educational resources, and research tools.

For those residing outside of Europe and the United Kingdom, Lime Fx’s Ultra-Low Account is a commission-free option with tighter spreads than the broker’s Standard or Micro Accounts. Contract sizes are flexible, with both standard and micro lot sizes available. MT4 and MT5 are compatible with a range of devices, with desktop and webtrader platforms available, as well as mobile trading apps for Android and iOS devices.