There are no commissions and tight spreads sourced directly from liquidity providers. While testing LimeFx, the EUR/USD was available at 0.1 pips and the EUR/GBP at 0.5 pips. The Limassol, Cyprus-based broker, offers better-than-market conditions on currencies, crypto, stocks, indices, metals, and commodities. Exness provides a commission-free Standard Account for beginners and Raw spread accounts for experienced traders, scalpers, and algo traders. I confirmed that Exness is authorized by multiple regulators, including top-tier FCA and CySEC.
Regulated, Transparent and Fair Trading
However, LimeFx has outdone many competitors by offering the kind of tight spreads you’d expect from ECN accounts without charging a commission. There is no doubt that it takes a lot of practice to make money with forex trading. In addition to choosing the right currency pair, constant training is essential in becoming a successful forex trader. Forex trading does not occur in exchanges like commodities and stocks, rather it is an over-the-counter market where two parties trade directly through a broker. The four primary forex trading centers are New York, London, Sydney and Tokyo.
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It is the price the client will be quoted when wanting to sell (go short) a position. The broker has been around since 2010, and, though that is still pretty new compared to others, it has over a decade of industry experience. LimeFx’s business model is based on STP (Straight Through Processing), where orders are sent to financial institutions directly. This eliminates the potential for conflicts of interest or price mark-ups, making this broker pretty reliable when it comes to trade execution.
Seamless execution
- The software offers an impressive array of analytical tools, including nine timeframes and four chart types for each financial instrument to ensure detailed market analysis.
- However, users can access the LimeFx FAQ section to solve small queries and doubts.
- In a foreign currency swap, each party to the agreement pays interest on the the other’s loan principal amounts throughout the length of the agreement.
- We also consider the richness of trading platforms, range of tradable instruments, account diversity, customer support efficiency, deposit/withdrawal ease, leverage options, and educational resources.
- The Price Aggregator meticulously scans these, thus assuring traders invariably acquire the best available Bid/Ask price combinations.
- Particularly considering the broker has only one ECN XL account with spreads starting at 0 pips and no fees.
No, LimeFx is a legit broker with regulatory oversight from the VFSC and the CySEC. Traders have access to numerous deposit and withdrawal options at LimeFx. Metals are a group of chemical elements used to make everything from coins to cars.
Forex Trading Account Types
LimeFx’s stop-out kicks in when your margin level drops to 50% or lower. At this point, the forex broker will begin to close your positions until the margin level of your account is above the threshold again. During tests, the EUR/USD came in at 0.1 pips, which is tighter than rivals like LimeFx with its 0.6 pips on the same pair. Spreads on other key currency pairs are also competitive, coming in at 0.5 pips on the EUR/GBP and 0.7 pips on the GBP/USD.
Platforms & Tools
Swap fees, or rollover fees in forex trading, are interest payments that traders incur for holding a position open overnight. These fees are based on the interest rate differential between the two currencies in the traded pair. If you buy a currency with a higher interest rate compared to what you sell, you might earn interest (positive swap). Conversely, if you buy a currency with a lower interest rate, you will likely pay interest (negative swap). I like how the company is comprised of a dedicated team of professionals with extensive experience in the financial industry.
LimeFx is a retail broker that provides traders with the popular MT4 trading platforms, useful educational materials and robust trading tools, to trade in the global financial markets. The MetaTrader 4 Multi Terminal is a component of the MT4 package that was designed to enable money managers and professional forex traders to handle many forex trading accounts at the same time. Any trader who is familiar with MT4 will feel right at home with the user interface on the MT4 Multi Terminal. DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about.
MetaTrader and cTrader platforms have advanced features like backtesting, automated trading, and a wide range of order types, though are less user-friendly. LimeFx provides a calendar that displays upcoming economic events and releases, along with their expected impact on the markets. I always like to check an economic calendar before take a decision on the trade. Also, love that company does not force its clients to switch to MT5, I personally like MT4, so thanks for this.
There is much written about the ECN XL account they have crafted and its reputation as one of the best account types is well deserved. This had bringed me to LimeFx in the first place.Yesterday I registered an account on this platform and I was surprised that even a deposit bonus is available. It can be a great boost, especially for traders like me with limited funds. For me it’s really an optimal solution, because I am a scalper and even a trader with several days experience will tell you how it’s important for scalpers to have seamless execution!
I only really missed having PayPal available since this industry leader is one of the most widely used e-wallets and is accepted by rivals, including XTB and IG. That said, this broker does implement negative balance protection across both EU and offshore entities, https://limefx.biz/ unlike alternatives such as Fusion Markets. The difference between actual fill price and expected fill price is called slippage. Now that you have the necessary know-how of the Forex market let’s move on to how you can learn Forex trading step by step.
Our motto, “a broker on your side,” epitomizes our commitment to your success. LimeFx MetaTrader manages multiple accounts for you, and expert Advisors are compatible with this tool. Accessing the platform straight from the website is a great option for users with MacOS. scammed by limefx Traders of gold, silver, and palladium can trade against their preferred currency. Gold dealers, for example, can conduct transactions in dollars or euros and vice versa. Bitcoin, Zcash, Dogecoin, Bitcoin, Ethereum, Altcoins, and Dash are all available for trade.
It is the price at which the currency, or instrument is offered for sale by LimeFx (or another counter party). The ask or offer price is effectively the price a client will be quoted when wanting to buy (go long) a position.. If someone wants to give you something or wishes to offer it at outrageously right conditions, you should be suspicious.
Despite the fact that LimeFx only offers one account type and one platform, the ECN XL is a very robust offering that will suit traders of all levels of expertise. Approach trading on LimeFx MetaTrader 4 with low spreads, competitive spreads, and different account types. A long-term trader will gradually overcome the tension to lose money. LimeFx uses the trusted MetaTrader 4 platform, accessible as a download or online solution, to trade forex, indices, silver, and gold.
You will be required to fill in the account application form with your details and may be asked to provide some KYC documents in order to verify your account. This is pretty standard procedure when dealing with a regulated broker as they must follow AML policies. I like how the process is all done online and shouldn’t take you more than a few minutes to complete.
Crypto withdrawals are also quick as you can expect funds to be transferred within just 15 minutes. However, bank cards and wire transfers take up to five working days. The European branch is licensed by the CySEC, a reputable regulator, and the brokerage has earned a good reputation with over 10 years in the business. Our team is happy to see that LimeFx does not impose any trading restrictions, meaning strategies such as hedging and scalping are viable.