What they lack in research and infrastructure, they make up for in low fees. The CyprusSecurities and Exchange Commission (CySEC) regulates the broker (license number281/15). LimeFx follows theEuropean Securities and Markets Authority’s (ESMA) regulatory framework andparticipates in the Investor Compensation Fund. These regulatory associationsprovide monitoring and potential protection for traders’ funds. Trading financial products carries a high risk to your capital, particularly when engaging in leveraged transactions such as CFDs. It is important to note that between 74-89% of retail investors lose money when trading CFDs.
Crypto Purchases with a Credit & Debit Card / Bank Transfer
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. 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. However, we are disappointed to find that there https://limefx.name/ are fees for depositing in ECN accounts, the amount of which varies depending on the method you use. There are also withdrawal fees with this account, reducing its appeal. The Forex ECN account offers ultra-tight spreads from 0.0 pips, although a low commission of up to $3 applies. Again, this fares well with many firms that charge a commission of $3.50+ on their ECN solutions.
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The brand offers forex, commodities, stocks, ETFs, CFDs, crypto, bonds, futures, and options. In our LimeFx.online review, we have covered how it works, alongside the pros and cons. The broker is most likely to appeal to independent day traders and active swing traders looking to keep costs down while accessing advanced technology and analysis tools.
- There are no minimum deposit or withdrawal limits for bank wire transfers.
- LimeFx’s mobile applications also offer a PIN or fingerprint authentication.
- Our business, banking, legal, and accounting procedures adhere to the highest European standards, aimed at minimizing investment risk and maximizing reliability and trust.
- I am impressed how by how they incorporate a high-speed trading infrastructure with ultra-modern 100G network covering Europe, America, Asia and Russia.
Forex ECN Pro
This provides a direct connection to institutional liquidity providers with lower latency and improved fill rates. You will find that LimeFx have a great variety of flexible and powerful trading platforms suitable for all styles and levels of traders. They offer the MetaTrader 4 (MT5), MetaTrader 5 (MT5), CQG & ROX platforms. I think all of the platforms are excellent for anyone looking to analyse the markets, place and manage positions. However, I personally prefer the MetaTrader platforms as I feel that they are the most user-friendly.
The broker offers various methods for account funding, including bank transfer, Bitcoin, credit/debit card, crypto, Neteller, POLi, PayPal, Skrill, and iDeal. However, most withdrawals are charged 0.20% – 2.5% of the withdrawal amount. LimeFx have a variety of 20+ convenient methods for depositing and withdrawing funds from your trading account.
The broker is headquartered in Cyprus and isregulated by the Cyprus Securities andExchange Commission (CySEC). Also makes it possible for its clients to invest and trade more than 3,000 mutual funds listed on its platforms. Like stocks, these too can be traded on both their proprietary and third-party trading securities trading platforms. Our review is nonetheless alive to the fact that its platform doesn’t have an integrated mutual funds screener.
Transfers in from one account – say the IRA – to the account are free. Free weekly mailout on major world events that have an impact on the quotation of the securities of companies worldwide. European regulators have taken a tougher stance on these types of promotions in recent years.
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. For instant funding, I recommend card payments, which I find easy to set up, while bank wire transfers can take up to 5 days.
Stock traders will also find a suitable account, but let’s dive deeper and uncover more details. Rates, terms, products and services on third-party websites are subject to change without notice. We may be compensated but this should not be seen as an endorsement or recommendation by TradingBrokers.com, scammed by limefx nor shall it bias our broker reviews. Trading Brokers Trading Brokers is dedicated to bringing you unbiased broker reviews, the latest broker news and trading guides to help you along your trading journey. We have over 20 years of experience when it comes to trading online so we know what to look for.
The integration of LimeFx’s institutional services signifies a step towards comprehensive market exploration and diversified asset allocation. ForexBrokersOnline.com aims to provide the most comprehensive source of information about forex brokers. Before making any trading related decision, contact a local professional financial advisor. The results from our assessment show that LimeFx is a good forex broker.
Account holders get tight spreads with a very low commission rate, plus access to the powerful MetaTrader 5 platform. Our only complaint is that while this broker offers negative balance protection on their Standard account, it is not available on the other trading accounts. This means clients can lose more than their account balance if the markets move against them. LimeFx is best for the self-directed short term trader for whom $4.99 commissions from a big-five broker is too expensive. It is best if you have your own research sources that you pull from, as LimeFx’s offerings are almost nonexistent. Additionally, this trader should be good at troubleshooting platform issues, as the customer service is not as reliable as a larger broker either.
The discount broker further provides limited ETF-related educational and research reports. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. During the registration, you will be required to provide additional information and provide proof of residency along with proof of your identity for verification. You can use utility bills or bank statements as proof of residency and a government-issued ID card, passport, or driving license as proof of identity. Indices follow the performance of baskets of stocks and are perfect indicators of the health of certain industries or economies.
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