Meanwhile, the MT5 Global account offers 0.0 pip spreads with an even lower commission of up to $2. This is firmly toward the low end of the forex brokers we review. LimeFX also offers a professional account for high-volume traders with a minimum limefx scam deposit of $5000. The key benefits here are access to more than 50 execution routes, as well as powerful trading software like Sterling Trader Pro. LimeFX provides a free, web-based platform that’s more advanced than most brokerage platforms. You get real-time streaming data and analysis and level II market data.
I like the LimeFX trading environment for its choice of trading limefx courses scam platforms and services, ranking among the best industry-wide. The choice of payment processors is good, but I still need cryptocurrency deposits and withdrawals. While the 30,000+ asset selection looks good on paper, it focuses on equities and CFDs listed on 36 exchanges, making LimeFX an excellent choice for equity traders. Forex traders get a reasonable selection of 64 currency pairs. Other sectors need to be included or underrepresented besides the 25 commodity CFDs and futures. LimeFX is an online broker that accommodates the needs of both beginner and experienced investors.
Processing times are instant except for bank wires, which take two to three business days. Withdrawal fees and withdrawal processing times depend on the payment processor, which LimeFX transparently lists on its website and in the back office. Traders should always use appropriate risk management with leveraged trading to avoid magnified trading losses.
LimeFX Review 2024
The two are different, and represent the different features mentioned above. Although there are companies with lower minimum deposits, this is still a reasonable amount. LimeFX is a financial services provider operating globally and the broker is regulated in Cyprus.
Investment Advice
This makes the firm a good option for active forex traders and scalpers in our opinion. For instant funding, I recommend card payments, which I find easy to set up, while bank wire transfers can take up to 5 days. I like the variety of payment methods supported by LimeFX, making the broker easy to use. Accepted funding methods depend on the account type you pick but they include bank wire transfer, credit/debit card, Neteller, Skrill, PayPal, Klarna, FasaPay and other digital wallets. We appreciate that there are no deposit fees on the Standard and MT5 Global accounts, although third-party fees may apply to bank transfers.
- There’s a wide range of account types available, including the full set of MetaTrader platforms and traders get 24/7 online customer support.
- On a more positive note, our tests show that withdrawal times are in line with competitors, varying between payment methods with e-wallets being instant and bank wires taking up to 5 days.
- During my review, LimeFX neither offered bonuses nor promotions; a quality partnership program exists.
- On the downside, the minimum investment is fairly high at $500.
Leverage
Also, similar to the copy trading service, there is no guarantee you will make a profit. This copy trading tool allows traders to choose an investment manager to manage their funds and make investments on their behalf. The huge range of 35,000+ instruments is a key benefit of opening an account. Our tests show that only a select few brokers, such as Saxo Bank, can rival LimeFX when it comes to the number of trading products. My only criticism is the fees for depositing funds to the ECN account, which don’t stand up against competitors like Pepperstone which doesn’t charge.
Forex trading on LimeFX
We have been fairly impressed with the customer service provided. Support is available 24/7 which stands up well against competitors we have tested. On the downside, the minimum investment is fairly high at $500.
Forex traders get a reasonable selection of 64 currency pairs, and commodity traders can choose from 25 CFDs and futures contracts. I rank trading costs among the most defining aspects when evaluating a broker, as they directly impact profitability. LimeFX advertises competitive minimum trading fees, but they regrettably translate into expensive actual costs. I tested the MT5 Global account, where LimeFX notes raw spreads from 0.0 pips for a commission of $2.00 per lot.