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LimeFX is a regulated broker offering Forex pairs as its main trading product. The broker has a social trading platform and offers ECN technology which is available together with automated withdrawals, making the trading process very comfortable and streamlined. But the broker has high spreads and commissions and may not be suitable for traders who prefer low trading fees and commissions. ECN accounts offer much more value in trading terms with low spreads, but still, the commissions are higher than with other popular brokers. LimeFX has a very good education center with advanced Forex trading educational materials and books. Established in 2016, LimeFX is a rapidly emerging online trading platform that offers a cutting-edge solution for modern traders.
- Here we’ll review LimeFX Europe’s 2023 trading services in detail, including regulation, minimum deposits, account types, and spreads.
- In addition, there are established centers in various regions, so Europe and international are covered, however, customer service is available on working days only 24/5.
- Additionally, mobile trading is also offered through the MT5 Android app.
- It is possible to access LimeFX live chat in a demo mode and get answers to all your questions.
The platform boasts dozens more technical indicators than its predecessor, 21 timeframes, and a full set of order types. In addition, traders can take advantage of the economic calendar and depth of liquidity tool. The minimum deposit required to open a LiteFinance Account is $50 USD. LiteFinance provides 2 different live trading accounts, ECN and Classic. https://limefx.vip/ Mobile trading platforms for both iOS and Android with alerts, push notifications and full control over your trading account are also included in the package. Therefore, trading with LimeFX Cyprus entity you can refer to CySEC in case of any violence, while the regulator himself constantly checks on the operation and environment the broker provides.
Broker Types
The EU entity only accepts traders from the EEA, plus the UAE and Marshal Islands. The owner has ensured all LimeFX Europe deposits and withdrawals can be managed from within the secure Client Cabinet, which also contains a live chat in case of any problems. Funding is available via bank cards (Mastercard or Visa) and e-wallets including Skrill and Neteller. Fees are reimbursed for all local deposit methods and are processed instantly.
Furthermore, to prevent a trader from losing more than their account balance, the broker offers negative balance protection. LiteFinance is registered as a Cyprus Investment Firm with a reliable reputation and over 10 years of experience in the Financial Market. LiteFinance offers access to Up-to-date, technologically advanced services, advantageous trading conditions, low spreads, and high speed of execution of trading orders.
LimeFX operates under a Cyprus Securities and Exchange Commission (CySEC) license. In addition to these regulations, the broker has a number of security measures in place to protect client funds. LimeFX is a part of the investor compensation fund and all client funds are kept in segregated bank accounts, preventing the broker from using client money for their own purposes.
The minimum amount for deposit or withdrawal is $1 for e-wallets and $10 for cards. This review would like to have seen cryptocurrency trading offered. Trade on major US, European, Australian and Asian stock indices. LimeFX clients can diversify portfolios with hedging capabilities and low margins.
Brokers primarily earn through commissions, and larger brokers can offer lower commissions. Profits or losses come from market transactions, and reputable brokers pay clients their rightful profits. Stock exchange charges raw spreads without mark-ups or broker additions. Trading with raw spreads has become possible thanks to ECN trading accounts.
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Our broker ratings are also informed by the experience of our researchers during the evaluation process. Another benefit related to the European Union’s financial markets regulations is the negative balance protection feature that applies to both account types. The Cyprus Investor Compensation Fund covers all retail trading accounts (for those not belonging to professional or institutional investors) against broker liquidation to a maximum value of EUR 20,000.
It is possible to access LimeFX live chat in a demo mode and get answers to all your questions. Additionally, the website is multilingual together with the live chat which is available 24/5 in 22 languages. Live chat provides the ability to connect to LimeFX’s limefx courses scam different departments, including partnership and financial departments, together with general customer support. Traders can also connect with the broker directly via phone call. With all this combined, LimeFX offers excellent customer support services.
In addition, there are established centers in various regions, so Europe and international are covered, however, customer service is available on working days only 24/5. LimeFX Standard account minimum is 50$ at the start, and the ECN account set is also 100$ and it is a great opportunity since the requirement is quite low. Yet, be sure to verify conditions and margin requirements for the instrument you wish to trade, also better check all the margins via Demo account at first before you sign in. LimeFX established global expansion through its offices in Cyprus and an international one based in St. Vincent and the Grenadines and is fully compliant with financial regulations. LiteFinance Global LLC does not provide service to residents of the EEA countries, USA, Israel, Russia, Japan, and some other countries. A good spread is the minimal difference between the buy and sell price, ideally matching the raw market spread.
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In addition, you can rent a VPS server cheaply to get even better access to the markets. You will be paid an additional fee, which depends on your trading volume. The cashback is then payable at any time and applies to all types of accounts.
We offer impartial reviews of online brokers that are hand-written, edited and fact-checked by our research team, which spends thousands of hours each year assessing trading platforms. LimeFX Europe is a great option for forex traders with dozens of currencies, low spreads from 0 and a VPS for automated trading strategies. We also rate the daily market insights and forex tutorials for beginners. LimeFX is a good option for active forex traders with variable spreads from 0 pips, daily analysis and high-quality training guides. The forex copy system also lets you duplicate the positions of experienced traders. Exotic currency pairs have wider spreads due to their lower popularity, higher costs, and increased risk for traders.
LimeFX broker review – A broker with average spreads and high commissions
The trading fees are very low, and you get a quick and direct execution. Also, the bonus program is highly recommended and can generate for you additional income. LimeFX offers different account models customized to the trader’s request (read later on this page).
A variety of payment systems for fast depositing and withdrawal of funds
Before that, national currency rates were fixed, and the market law of supply and demand did not affect the price change. We have collected the best cryptocurrency trading strategies! Use these bitcoin strategies to make profits for the whole year 2023.
What is paper trading
The fact that this strategy is mainly used for large funds doesn’t mean that it can’t be applied to the short-term trading. Traders will conduct all financial transactions from the secure back office of LiteFinance. I find the deposit and withdrawal methods sufficient for most traders and appreciate the inclusion of cryptocurrencies.
It will take a long time to change the spread again, for the big players to accumulate a position. LimeFX is considered safe for trading through an international entity. The broker has a long history of operation with an excellent reputation. At LimeFX, there is a good range of account types, trading platforms, free exclusive trading signals, and research tools, also powerful trading capabilities suitable also for advanced traders. To evaluate brokers, we test the accounts, trading tools and services provided. Over 100 data points are considered, from minimum deposits and trading fees to the platforms and apps available.