Lime Fx Review Trusted Broker? Pros, Cons & Spreads

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.

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.