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LimeFxFX Review 2023: Is It a Reliable Forex Broker?

If you are going to be trading with them, make sure that you practice appropriate risk management. Although the prospect of trading with free money sounds great, bonuses are an incentive for you to trade aggressively to meet your targets which could erode your profit. They were relatively easy to follow and could help supplement the demo account if you are starting out. There are some simple videos that are provided in the education section that will help you to set up your MT4 account.

  • Trading Forex, CFD, Binary Options, and other financial instruments carry a high risk of loss and are not suitable for all investors.
  • With LimeFxFX, users can avail CFDs of the ten most promising indices.
  • LimeFxFX does not offer zero spread and commission-based trading accounts.
  • Just answer the questions in the account dashboard and upload the documents.
  • Taking a look at the CFD markets available from LimeFxFX, it is noted that they offer a little more than 70 assets in total.

The minimum deposit at LimeFxFX is $5 or RM 1500 with local bank transfer in Malaysia. The minimum deposit amount is different for each accepted method at LimeFxFX. Moreover, the service complies with international security practices like AML and KYC thus preventing any possible malfunctions with traders accounts and ensuring their safety.

The difference in leverage depends on the product trading, and where you’re located on the globe, due to which regulatory guidelines apply to your account. All up, with LimeFxFX, you have access to most of the major trading instruments. The lack of options isn’t the worst thing, as LimeFxFX provides most major trading instruments, and fewer options can help you focus and not be distracted. If you are not of Islamic faith, having no swaps can work for or even against you.

That means you can access wire transfer, credit/debit cards, and some eWallets like Skrill. These typically take 1 day to process or less, though a wire transfer may take longer. This account type is a great starter account, though at the moment is not available to EU traders.

Trading conditions for LimeFxFX investors – What are the offers?

The thing to remember is that swaps can either be a source of income or an expense depending on how markets open. Profiting off swaps is a legit trading strategy but this won’t be limefx official site possible with LimeFxFX. If this doesn’t concern you and you assume swaps costs are going to be unfavourable, then this account will encourage you to trade mid-term and long-term.

  • They are only siphoning your money with hopes to collect everything you’ve ever owned.
  • Losses can exceed deposits
    You should consider whether you can afford to take the high risk of losing your money.
  • I think this can be a good way to practice your trading strategies and build your confidence without any risk.
  • We would like to know what more would you like to suggest to enhance our services to be able to get a complete 5-star rating from you.
  • LimeFxFX is regulated by none of the tier-1 (high trust) authorities, one tier-2 (medium trust) regulator, and none of the tier-3 (low trust) regulators.

We have reviewed the available methods to connect with the customer support staff at LimeFxFX. To open a demo account at LimeFxFX, clients need to enter basic details on the registration window and login into the personal area. After logging in, clients will have the option to open a real and demo account. LimeFxFX makes the MetaTrader Suite available, MetaTrader 4 and MetaTrader 5. MetaTrader 4 is best suited to beginner traders whereas MetaTrader offers a number of new features to more established investors. LimeFxFX is also very active on YouTube, with a range of live trading sessions and webinars taking place on a regular basis.

LimeFxFX Demo Account

Evaluation includes researching the LimeFxFX management team, track record, and services. Our team has endeavored to break down the complex world of trading with LimeFxFX into easily digestible information https://limefx.group/ in this LimeFxFX review. We want to ensure you have all the knowledge necessary to use the LimeFxFX trading tools confidently, from depositing and withdrawing funds to executing trades.

How good is LimeFxFX customer support?

We went through the process of opening an account, to see if there are any roadblocks or headaches that you may run into. Some of these educational webinars could be useful, but overall, we’d say it’s only really suitable for absolute newbies. LimeFxFX has quite an extensive research and education section on the company’s website. There’s an economic calendar and regular news updates, which could be useful if you need to keep up to date with the latest fundamentals. One other side note is that LimeFxFX used to be located in St Vincent and the Grenadines. In late 2022 or early 2023, they moved to Saint Lucia – this was around the same time, Saint Vincent announced a tightening of their supervision of foreign companies.

LimeFxFX Customer Reviews

He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets. Trading financial instruments such as cryptocurrency and foreign currency markets involves high risk and is unsuitable for everyone. When trading on leverage, the potential for loss is significantly higher than when dealing with just your funds.

The educational materials available at LimeFxFX are more comprehensive and in-depth than what is available at other brokers, but it is more geared toward beginners than experienced traders. LimeFxFX’s mobile trading support is good compared to other brokers, with the MT4 and MT5 mobile versions available and the LimeFxFX trading app. However, LimeFxFX’s trading app is only available on Android devices.

Education Resources at LimeFxFX

LimeFxFX offers various funding payment methods listed in your LimeFxFX dashboard if available in your region. To learn more about the LimeFxFX funding and withdrawal options available in your area, you can explore the LimeFxFX website. It’s essential to remember that the payment methods provided by LimeFxFX vary based on the LimeFxFX entity and the LimeFxFX client’s country of residence.

These are, EUR within the EU, and both EUR, and USD for traders outside the EU. This is rather a limited selection compared with other top brokers. It is the perfect opportunity to trade in a no-risk environment with virtual funds, but which also perfectly replicates live trading.

In general, LimeFxFX has some pretty low spreads when compared to the competition. For many of their major Forex pairs these spreads are close to zero and are especially low for their ECN accounts. On the forex side, there are a number of minor forex crosses that are not included. With respect to equities, they only offer indices with no single stocks and on the commodities side, they only have Gold and Silver on the micro account.

Moreover, LimeFxFX offers opportunities for cryptocurrency trading, featuring popular cryptos like Bitcoin, Litecoin, and Ethereum. However, it’s important to note that LimeFxFX does not currently offer trading in stocks, ETFs, futures, bonds, or options. 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. All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Generative AI tools are not a part of our content creation or product testing processes.