New traders may appreciate a standard style account, as no commissions mean a simpler cost structure. Long-term or discretionary traders may also like this account as the simpler cost structure compared to a commission account can make trading easier. The LimeFx Standard Account has a minimum requirement of $50 (depending on payment method) when making an account deposit. When trading, you will still need to meet initial margin requirements to open trading positions. This includes an economic calendar, live forex charts, and the latest market news. Additional trading tools are available such as a market scanner and market data signal however to get to the really useful information such as trading signals, technical analyser and trading analytics requires a sign-up with LimeFx.
Transparency gives their clients a level of assurance and trust that the broker is meeting the client’s expectations when it comes to trading. LimeFx to deliver on the client’s requirement of fast order execution with no slippage, competitive pricing and no re-quotes. When comparing the spreads to other brokers, FXTM at first glance appears to have only average spreads. LimeFx has a knowledge section that consists of research or market analysis tools and education.
- If you are looking for the best possible spreads, then Active Trader is the best choice.
- The Active Trader account uses a tiered commission structure which means the more you trade, the lower your commission cost will be.
- Withdrawal can be done by card, Bank Wire or Skrill, Neteller and in Australia by Electronic Funds Transfer and Union Pay.
- It was built based on the feedback from LimeFx traders and trading data accrued from over 10 years to meet the needs of their clients.
- When comparing the spreads to other brokers, FXTM at first glance appears to have only average spreads.
67% of retail investors lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing money. While there is a wealth of material for forex, education is lacking when it comes to CFD education. Should you prefer to solve your issues yourself, there is a search feature on their website that should be able to point you to relevant pages to solve your question however the website doesn’t have a devoted FAQ page.
Lag time, which naturally occurs due to the time taken between placing your order and completing your order, can see prices change. The Active Trader account uses a tiered commission structure which means the more you trade, the lower your commission cost will be. LimeFx can be compensated in several ways, which includes but are not limited to adding a mark-up to the spreads it receives from its liquidity providers, adding a mark-up to rollover, etc. Commissions with most other brokers are $7.00 round-turn, while Active Traders can be as low as $5 round-turn.
LimeFx Standard Account Spreads And Costs
39 currency pairs, for example, would put LimeFx at the lower end of the broker for currency choices. LimeFx standard spreads generally fall in the midrange when compared with other brokers with the most competitive spreads on offer appearing to be for AUDUSD and AUDJPY currency pairs. To be able to take advantage of these discounted commissions, you will need a minimum of $25,0000 in equity in your trading account, so will not be a serious consideration for most retail traders. Please note that due to FCA regulation, UK retail traders are not able to trade cryptocurrencies with UK brokers. If you want access to crypto markets, you will need to sign up for an LimeFx subsidiary outside of the United Kingdom. These stats show that LimeFx completes your orders with no slippage more than 60% of the time.
LimeFx Review 2024
Compare Forex Brokers was created to help Australian forex traders find the right broker to suit their trading requirements. Our forex broker comparison tables were constructed from information from providers’ websites or actual trading accounts. We try to update our forex broker comparison tables periodically (including our LimeFx reviews) but if you have any suggestions or areas that may need updating please feel free to contact the owners via our contact us form. Experienced limefx scam Australian forex traders that require a very specific niche forex platform should consider LimeFx. Those that require high leverage or are looking for low spreads/fees should review our best Australian forex broker comparison table and a provider like Pepperstone for advanced traders. It is also a great option for active traders who benefit from an abundance of technical analysis tools, including over 150 analytical tools and a wealth of customisable charts and drawing tools.
This platform is the most widely used platform by traders and the most offered platform by brokers, many consider MetaTrader 4 to be the ‘gold’ standard when it comes to platforms. While you can find platforms with more indicators, more charts, faster speed, as a whole, MetaTrader 4 offers one of the most complete packages because it does everything really well. MetaTrader 4’s reputation and reliability make it a sound choice for all traders. The majority of clients will use their Standard Account, which is designed for retail traders’ high volume traders will prefer their Active Traders account to save on costs. Other account types available include an Interest-free account, which is designed for Islamic traders who can’t pay swaps. If you prefer social or copy trade, then Zulu Trader might be your preferred choice of the trading platform.
Ratings and reviews
The LimeFx Trading Station forex platform is generally hard to fault, it has a very user-friendly design and comes with has become LimeFx’s hub for investment advice. One of the key features of the platform is the free professional charting tool known as Marketscope 2.0 which consists of price alerts, charts and a wide selection of indicators. One of the key features of Marketplace is the ability to open and manage all your trades directly from the charts. This means you can perform all your trading analysis, opportunity identification and order execution all in one place. This simplified trading process makes the platform a great tool for beginner traders. The range of markets available with LimeFx is quite broad however you can find other brokers that offer more choices for each financial instrument.
An Interest-free account is targeted at Islamic traders who are forbidden from earning (or paying interest) as it is forbidden by Sharia law. LimeFx add an extra 0.4 pips to the spread for Standard accounts and a $2.00 commission per lot (per side for commission-based accounts in place of overnight fee or swap rates. If you are a high-volume investor, then the Active Trader account may be for you. This account offers LimeFx’s lowest spreads with the added benefit of discounted commission, dedicated support, and depth of market.
If you are looking for the best possible spreads, then Active Trader is the best choice. Spreads with LimeFx’s active trader account are cheaper than they may appear when you compare with other brokers as LimeFx off lower commission fees. The overall lowest spreads are offered by IC Markets in our head-to-head comparison. Our LimeFx review found the forex broker offers one of the extensive choices of trading platforms from all online brokers. Not only does LimeFx offers a choice of 4 trading platforms (2 of them the best social trading platform) the broker also offers 7 speciality platforms.
This type of trading allows you to copy the trades of experienced traders, making it a great choice for beginner traders wanting to learn the trading strategies of successful traders. The feature https://limefx.group/ gives users the ability of traders to share ideas and strategies and help other traders. Zulu Trader has over 1 million users, making it one of the larger social trading communities available.