LimeFX offers an Islamic Account designed specifically for Muslim traders that follow the principles of Sharia law. Traders who appreciate predictability prefer the Fixed Account because it has fixed spreads, making it easier to evaluate expenses upfront. This removes any possibility of fluctuations and provides peace of mind, thus making it more user-friendly. LimeFX’ two-factor authentication (2FA) usage was not explicitly mentioned on the website, although it is a typical security mechanism brokers provide. Verification of My Trade conducts regular audits certifying adherence to best execution standards with audit findings publicly accessible for transparency.
Account Application
The spreads are dynamic, with accounts such as the ECN offering spreads as low as 0.0 pips, reflecting the limefx scam direct market access they give. Variable spreads, useful during periods of high liquidity, are also available, enabling traders to benefit from narrower spreads. The Standard Account is LimeFX‘ comprehensive offering for novice and experienced traders.
How can I open an account with LimeFX?
To compensate for the smaller spreads, LimeFX’ ECN account holders must pay a commission, which begins at $2.5 per standard lot. This pricing structure is common among ECN accounts, which provide more direct access to market prices. The in-house mobile app offered by LimeFX provides the convenience of trading on the go. The seamlessly integrated app enables users to access market information easily, live price charts, and execute trades. LimeFX provides MetaTrader 5, the latest upgrade in trading technology.
- More in-depth analysis is available in the Main Trade Ideas section of the website.
- For instance, a margin call at 50% indicates that an account’s equity cannot go below half the required margin limit, thus preventing over-extension where trades are involved.
- LimeFX upgrades the trading experience via Autochartist, which includes automated chart pattern recognition and trading signals.
- The FAQ, which forms part of the Knowledge Base, is in-depth and covers questions relating to complex topics like copy trading and expert advisors.
- LimeFX offers access to 40 forex pairs, including major, minor, and exotic ones.
- Here, in-house analysts cover major markets from a mostly fundamental perspective.
The firm offers traders cutting-edge platforms, a wide selection of trading products, and exceptional customer service. Besides the volume-based cashback rebate and VIP programs, LimeFX features a promotion allowing traders to earn money, which they can transfer as a bonus to live trading accounts. LimeFX also pays a bonus for traders who switch from another broker and if they want to transfer open positions.
Copy Trading
It provides narrow spreads, adjustable leverage options, and convenient access to multiple leading cryptocurrencies against the US dollar. This account type suits those who wish to delve into the dynamic realm of digital assets easily. The MetaTrader 5 mobile app also provides many order types, including pending and stop orders. However, trailing stop-loss orders are only available from the desktop.
The Demo Account portrays the authentic marketplace status, easily accessible by all traders. Withdrawal fees depend on the payment processor, and LimeFX processes all requests within 24 hours. Minimum withdrawal amounts vary based on the payment processors, but all are low.
The web platform uses market-leading TradingView charts featuring 11 time frames, 11 chart types, and over 100 technical indicators. Various drawing tools, from trend lines to Fibonacci retracements, are also available. A full-sized contract is 100,000 units of the base currency (the first currency quoted in the pair).
Fast and good answers
Overnight or rollover fees, which are considered interest, are waived. All account types can be easily converted to Swap-Free Accounts except PAMM accounts, ensuring adherence to Islamic financial standards without hassle. Experienced traders frequently opt for the ECN Account, as it provides direct market access, extremely low spreads, and lightning-fast execution times. Traders get the MT4/MT5 trading platforms as customizable desktop clients, lightweight web-based alternatives, and user-friendly mobile apps. I like the LimeFX trading fees in the ECN account and multi-tier leverage system. The Forex and cryptocurrency selection stand out from the well-balanced asset selection, and the volume-based cashback rebates are excellent for high-volume and high-frequency traders.
Traders should always use appropriate risk management with leveraged trading to avoid magnified trading losses. Negative balance protection exists, meaning traders can never lose more than their deposits. The most ignored trading costs are swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check these before evaluating the total trading costs. LimeFX is also a member of the Hong Kong-based limefx forex broker Financial Commission, which has a compensation fund of up to €20,000 per client.
