Another big downside is the lack of web trader compatibility, which I find convenient because it provides straightforward and fast market access. This is low compared to many brokers, but it’s still a downside since rivals like Vantage charge nothing, making them a better fit for casual traders. I really like the ‘average spread tool’ available on the broker’s website which displays fees over recent trading sessions.
Overnight Funding Fee
- This long-time industry favorite is starting to show its age after decades since its release, and we prefer for brokers to offer a selection of platforms with newer and slicker options, especially for beginners.
- Besides the very frustrating withdrawal charge, LimeFX’s non-trading fees include a $5 inactivity fee charged after 120 days of dormancy.
- LimeFX provides traders with access to a variety of research and educational tools designed to enhance trading knowledge and skills.
- The technical support is good and it is noticeable that there are competent guys working.
LimeFX is a low-cost brokerage with no commissions and spreads that are generally competitive, especially on currency pairs. LimeFX is good for day trading thanks to its very tight spreads in the ECN account, leverage trading opportunities, and access to the fast and dependable MetaTrader 4 platform. However, this is still a powerful platform that will provide everything needed for experienced traders to conduct technical analysis while also being intuitive enough for beginners to pick up easily. This long-time industry favorite is starting to show its age after decades since its release, and we prefer for brokers to offer a selection of platforms with newer and slicker options, especially for beginners.
Account Features
If you have traded with LimeFX we would really like to know about your experience – please submit your own review. The international subsidiary, on the other hand, operates with limited oversight, and this holds the broker back from achieving a higher score. I’ve also read much of the educational content and was struck by its bland delivery with long-form text and limited videos or engaging elements like quizzes, all of which could elevate the learning experience. LimeFX does slightly better with its educational content, which includes some basic e-books, articles, and a glossary of key terms. Similarly, the ‘Market Analysis’ section had a focus on just three currency pairs during testing which is not wide enough in my opinion.
LimeFX Comparison Table
Wire transfers incur a $30-$45 flat fee (minimum limit of $500), many times more than the $5 withdrawal fee at eToro. MetaTrader 4 trading platform comes with its own built-in language for programming trading strategies. MQL4 allows you to create your own EA (Expert Advisor) and automate your trading based on your own programmed strategy.
Using MQL4 you can build-up your own library of custom indicators, scripts and function database. MetaTrader 4 includes trade alerts, a handy tool to help you track the most favourable trading environment and market conditions. Opening an account with LimeFX is a straightforward process designed to get traders started quickly. LimeFX applies a spread-based fee for forex trades, with no additional forex-specific limefx website charges.
The mobile application has proven to be stable and reliable during testing. However, the selection falls short of the comprehensive educational offering available from best-in-class brokers like eToro, limiting the brokerage’s appeal to beginners. LimeFX’s investment offering is excellent for forex traders but weak in other departments. LimeFX runs bonus offers in certain jurisdictions, and when I opened an account with the global entity I was offered a 100% deposit bonus up to $2000. Withdrawals at LimeFX are also disappointing, with all methods besides cards and wire transfers incurring a percentage withdrawal fee that can reach a hefty 3.4%, depending on the method.
Submit Your Own Review of LimeFX
The platform allows orders to be placed in a variety of ways, including trading directly from charts. Embedded tick charts are an extremely useful way to determine accurate entry and exit points. An inactivity fee of $5 per month is applied after three months of no trading activity.
Information secured in this fashion is virtually impossible to hack in any short amount of time. Whether your new or an experienced trader, a risk free demo account is a great way to experience the benefits of ECN trading with LimeFX. Practice your forex trading skills or test new strategies with zero investment. It’s fine if you want a no-fuss trading experience but seriously lacking in the research tools, analysis features. That’s a key factor for me and that’s why I decided to join them and I can say since the moment limefx official site I started trading through this broker I didn’t have any problems.
