With a focus on forex and CFDs, LimeFX provides a range of tradable instruments, though the absence of stock trading may be a limitation for some. In addition to access to daily market analysis and market education resources, you can get a 100% first deposit bonus of up to $2,000 when you open an LimeFX XL account. If you want to check out this broker’s services and trading platform, just open a free demo account with no minimum deposit. New currency traders will enjoy the $0 minimum deposit, education and trading resources, plus the zero commission policy. Experienced traders will appreciate the tight spreads, access to MT4 and a VPS, plus zero strategy restrictions.
However, LimeFX has outdone many competitors by offering the kind of tight spreads you’d expect from ECN accounts without charging a commission. Additionally, traders have access to real-time market data and analysis to help them make informed decisions. The combination of educational tools and a well-regulated environment makes LimeFX a reliable option for traders looking to expand their knowledge while maintaining secure trading conditions.
The agents were friendly, and provided suitable answers to all my queries, in a personalized manner with no frustrating chatbots in sight. Similarly, the ‘Market Analysis’ section had a focus on just three currency pairs during testing which is not wide enough in my opinion. Another big downside is the lack of web trader compatibility, which I find convenient because it provides straightforward and fast market access.
Inactivity Fee
Besides the very frustrating withdrawal charge, LimeFX’s non-trading fees include a limefx official site $5 inactivity fee charged after 120 days of dormancy. Importantly, all deposits are fee-free, and e-wallets like Skrill and Neteller process within an hour, compared to 5-7 working days for wire transfers. On the surface, this is an ideal offering that provides the best of both worlds, though in practice we found some instruments pricier than others, so you shouldn’t expect superior pricing across the board. Perhaps, it’s one of the most significant characteristics for traders.
- The speed of transfers varies according to the payment method used.
- LimeFX is a low-cost brokerage with no commissions and spreads that are generally competitive, especially on currency pairs.
- There are no commissions and tight spreads sourced directly from liquidity providers.
- To my surprise everything was better than I expected, I didn’t have any problems with the registration process.
- This is low compared to many brokers, but it’s still a downside since rivals like Vantage charge nothing, making them a better fit for casual traders.
How To Open An Account
The $30 – $45 charges are way above brokers such as eToro, which only charges $5, and many brokers we evaluate that offer free withdrawals. During tests, the EUR/USD came in limefx official site 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.
Diverse Range of Tradable Assets
Our team is happy to see that LimeFX does not impose any trading restrictions, meaning strategies such as hedging and scalping are viable. These are useful resources, but LimeFX still lags some behind industry leaders like eToro with its comprehensive forex education academy. MetaTrader 4 is available for download to desktop devices or through major web browsers. You can also find download links to the MT4 app for both iOS and Android devices via the LimeFX website. If you have traded with LimeFX we would really like to know about your experience – please submit your own review.
Is LimeFX Regulated?
With over 200 available assets, traders can diversify their portfolios and take advantage of different market conditions. Tight dealing spreads lower your overall trading costs and can significantly improve your trading results, especially if you are an active trader. LimeFX has unusually competitive dealing spreads that you can gauge by opening a free demo account. This type of trading model levels the playing field with more transparency and a greater degree of control over your trades. I use LimeFX for forex trading and have been impressed with the huge range of currency pairs, transparent fees and reliable MetaTrader 4 platform.