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Forex Trading

Lime Fx Review 2024 Key Features, Pros, and Cons

By May 3, 2022January 23rd, 2025No Comments

Lime Fx broker

Though it has been granted regulatory status in Cyprus and South Africa via an intermediary (Orinoco Capital), Lime Fx’s lack of additional reputable licenses heavily weighs down its Trust Score. Becoming regulated in more jurisdictions – especially in Tier-1 jurisdictions – will go a long way towards building trust with existing and prospective customers. To withdraw funds from your account, you need to verify your identity first. Lime Fx also operates under other entities that are regulated by lower-reputation organizations. This situation requires clients to place more trust in Lime Fx itself than in its regulators, as these regulations are more focused on preventing terrorism and money laundering than on execution-related issues.

What account types does Lime Fx offer?

  • This means, Lime Fx clients are free to hold as many orders as they wish for as long as they want.
  • These tools help traders, especially newcomers, understand and use AI effectively, paving the way for broader adoption across trading communities.
  • Lime Fx works on a spread-only basis; hence, separate commissions for trading are not paid.
  • Lime FxTrader includes a feature called Space, which is a built-in smart feed of customised trading ideas and market analysis.
  • Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets.
  • Lime Fx, with a trust score of 70, is regarded as having ordinary risk, thereby giving traders a fair degree of confidence about its dependability and operational integrity.
  • However, Lime Fx has e-wallet options through Neteller and Skrill were also a positive as they also provide instant funding like the Mastercard option.

The broker does not impose any fees for deposits or withdrawals, allowing users to manage their funds without incurring extra costs. However, traders should be mindful of potential third-party charges that may apply depending on the payment provider used. Lime Fx offers fast and fee-free withdrawals through a range of methods, including bank transfers and e-wallets.

  • Demo accounts have $5,000 by default, but you can claim up to $1,000,000 in virtual money and add more later.
  • You can create multiple trading accounts for your Lime Fx profile, each with its own balance and leverage.
  • To keep your prize lots active, you must trade at least once every 30 days.
  • Founded in 2011, Lime Fx (formerly Lime FxFX) is part of a group of global entities, which include Lime Fx Markets LTD (based in the island of Mwali) and Lime Fx Markets Cyprus Ltd (based in Cyprus).
  • The spreads for most instruments are about the same with both the account types at Lime Fx.
  • The available methods vary depending on the client’s residence and may include local bank transfers.

What trading platforms does Lime Fx offer?

Lime Fx broker

Lime Fx has been offering retail trading services since 2011, servicing over 40 million trading accounts in 180+ countries which is an impressive achievement considering how competitive the forex industry is. The copy trading platform is also a bonus, which is the perfect opportunity to mirror the trades of 1,500 traders and leverage their experience to profit from leveraged markets. The big takeaway from my time with Lime Fx is that it doesn’t charge swap fees on any of its accounts which are usually reserved for swap-free Islamic trading accounts. Not only does this reduce your trading costs for longer-term positions but it won’t force you to close a position before being charged a swap.

As for account management, I found the deposit and withdrawal services to be fast with same-day funding and withdrawals with no fees. Lime Fx has 52 forex pairs for CFD trading including forex majors like USD/JPY, AUD/USD, and EUR/USD as well as minor and exotic pairs. I did find that you can only access all 52 pairs using the MetaTrader 5 platform, while the Lime FxTrader and MT4 only offer 32 pairs. Overall, the account opening process took 3 minutes which is the fastest application I have completed for opening a live trading account. Out of the platforms available, I believe MT5 is your best option overall as it allows you to trade all asset classes and improves on the features of the MT4. For example, the MT5 is faster thanks to being rebuilt using 64-bit architecture which means your execution times and price feeds are faster, and now allows you to trade stocks.

Indeed, a recent Bloomberg survey forecasts a modest 1% growth for the Euro Area this year, slightly better than the 0.8% projected for 2024 but well below the long-term average of 1.4%. Lime Fx Group is regulated with 1 Tier-1 regulation CySEC (license number 372/18). Trader from SA are registered under Orinoco Capital (Pty) Ltd, which is registered in SA. Lime Fx was previously acquired regulatory license with FCA, but they are no longer regulated. Read what actual users and industry experts say about us online in broker reviews. Beginners can start by analysing key economic data from both the U.S. and the Eurozone.

Lime Fx Customer Service and Support

Usually, Lime Fx confirms withdrawals within 1-2 business days, but allow extra days for your Bank to process the transaction. The “Space” functionality, which provides tailored trading ideas and market analysis straight on the platform, is one prominent feature. This function gives pertinent insights in real-time, hence improving decision-making. The technology also ensures quick order execution and device synchronization, therefore enabling traders to move between desktop and mobile easily. The limefx website account opening is easy to follow, trading conditions are good, along with the platform selection and a range of instruments offered.

Mobile trading apps

Lime Fx only charges internal mark-ups over market spreads, which start from 0.6 pips or $6.00 per 1.0 standard round lot. Lime Fx does not levy internal withdrawal fees, but traders should consider potential third-party payment processor charges. Lime Fx offers 24/7 customer support, limefx primarily via live chat, with fast response times. Email support is also available, and the FAQ section answers many of the most common questions.

Lime Fx offers traders the out-of-the-box MT4/MT5 trading platforms and upgrades the trading experience with the Autochartist Pro plugin. MT4 remains the market leader for algorithmic trading and is the most versatile trading platform with 25,000 custom indicators, plugins, and EAs. Lime Fx places great emphasis on maintaining the trust and safety of its clients. Although it is not regulated by top-tier authorities such as the FCA or ASIC, Lime Fx adheres to high operational standards to safeguard client funds and ensure security. The broker offers negative balance protection for retail clients, providing an extra layer of financial security. It also keeps client funds in segregated accounts, further ensuring their safety.

Demo accounts

I am still waiting till date, my account manager is Jason and the Agent is Robert Wesley. Step 7) Click on Deposit button and select your preferred payment method. There is not much different in these account types other than the platform. If you want to trade on MT4, then choose MT4 account, but if you prefer MT5, then choose MT5 account.

Lime Fx takes it further and offers swap-free trading in its MT4/MT5 accounts. This makes a tremendous difference to leveraged traders who keep positions open overnight. Traders pay no financing fees, irrelevant of how long a trade remains open. Use your demo account to test new trading strategies or learn how to use certain analytical tools without risking your balance, then use your real account to earn a profit.

Lime Fx broker

Lastly, Lime Fx also has an entity regulated in Mauritius, through Uni Fin Invest . If you want to practise trading skills, create a demo account and trade in real market conditions with unlimited virtual funds. Lime Fx provides access to forex pairs, commodities, indices, and cryptocurrencies, allowing for a diverse range of trading opportunities. While Lime Fx presents several commendable features, it’s essential to carry out your own thorough research before deciding to trade with them. The suitability of a broker is largely dependent on individual trading preferences and goals. From our assessment, Lime Fx emerges as a broker that proves itself to be reliable and conducive to traders, making it a viable option for consideration.

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