LimeFX could be a good starting broker for new and intermediate retail traders, although more professional traders might look for a broker with additional research resources and assets. Broker research materials have been neglected, generating the biggest black mark in our review. The free LimeFX Research app allows clients to look at stock market data, financial viewpoints, and videos in an easy-to-use format.
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LimeFX also offers a virtual private server (VPN) that provides enhanced connection speed, continuous uptime and added security. The company’s current promotions include its Iron Worlds Championship live trading competition held from mid-June 2021 until mid-December 2021. This competition has a $1 million prize pool with multiple prizes awarded to winners at different stages of the competition. Our editors independently research and recommend the best products and services.
75.35% of retail investor accounts 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 limefx reviews your money. A Contract For Difference, or CFD, is a form of derivatives trading that allows traders to speculate on the everchanging price movements of instruments and assets in the global markets. The same platform is also available for mobile devices and it can be downloaded for free from the App Store or Google Play. For instance, it has 3 types of charts, namely bars, Japanese candlesticks, and broken line, but it features only 30 of the most popular technical indicators. The broker offers CFDs on several commodities, including Brent Crude and West Texas Intermediate (WTI) oil.
- With it, clients have access to more than 200 financial instruments in Forex, shares, spot indices, spot metals, futures, and commodities.
- In addition, the broker accepts several instant banking transfer services, which are available locally – Union Pay for Chinese customers, DotPay for Polish traders, etc.
- The website Trader’s Dashboard shows the positioning of other clients, updated hourly, but account holders will need to use Metatrader’s limited social functionality to take advantage of the information.
- Trade some of the most liquid assets available and diversify your portfolio with competitive spreads starting as low as zero pips on chosen CFD pairs.
- We offer a variety of trading accounts to meet your needs and style of trading.
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To access this feature, you must apply for a bank withdrawal from your client portal. Keep in mind that the bonus you received when you opened your account is removed when you make a withdrawal. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
If there was a better platform for my…
Founded in 2013, Trading Pedia aims at providing its readers accurate and actual financial news coverage. Our website is focused on major segments in financial markets – stocks, currencies and commodities, and interactive in-depth explanation of key economic events and indicators. Clients across Europe and the UK are offered two types of protection – segregated client bank accounts and financial compensation if LimeFX fails to pay its customers.
The broker lists an impressive variety of well-documented account types that cover nearly all trading styles and objectives. Clients can choose between two types of floating and an equal number of fixed accounts that offer different spread schedules and fee structures. Several account types allow retail clients to bypass LimeFX’s dealing desk, which carries a systematic conflict of limefx forex brokers reviews interest, and trade directly with the interbank system.
With respect to customer service, the broker provides decent contact options and support in 45 languages, which could be a plus. The trading competition might also be an incentive to open an account, and the broker’s support for the popular MT4 platforms seems to be the best feature of this broker. LimeFX provides 24/5 support, email, and live chat for prospective and existing clients in over 180 countries and in 30 different languages, and in chat was responsive during several contact attempts. A comprehensive FAQ addresses most inquiries while tutorials on trading platforms shorten relatively steep learning curves.
Benefit from a variety of trading accounts, low spreads, secure funding procedures, and free VPS hosting. The Absolute Zero Account is an STP account and has no commissions on trades. The minimum deposit required for this account is $500 and once again, clients can register SD, EUR or JPY as their base currency. With STP or ECN accounts, clients’ orders are not processed by the dealing desk and are instead forwarded to the interbank market. This provides faster execution, more liquidity, as well as more accurate prices. STP (Straight Through Processing) execution does not include commission (the commission is within the spread) and these types of trades are forwarded directly to liquidity providers.