Additionally, theyprovide a greater selection of trading platforms than many other brokers. Their website is well-organized, withinformation readily accessible for prospective traders. Unlike some brokers,LimeFx’s account types are defined by the type of asset traded – forex,stocks and options, futures, or CFDs.
Is LimeFx A Good Broker?
Online APIs, such as REST API, support the integration of additional features to the standard broker experience. Opening an account with the broker is a quick and easy process with a short online registration form to complete. After this you will need to fill out a questionnaire to ensure your suitability for the products and services offered, this is done to protect inexperienced clients. If accepted you can then upload your documents to verify your identification (passport, drivers license, etc) and address (e.g. utility bill no older than 3 months).
How To Make A Deposit On LimeFx
The broker puts great emphasis on Anti-Money Laundering (AML), Counter Terrorist Financing (CTF) and Know-Your-Customer (KYC) measures. All deposits are free with the limefx courses scam MT5 Global and Standard accounts, except Alph-bank which charges a 2.5% commission. ECN accounts incur a 2.25% to 3% commission; Trustly and UnionPay are free to use.
LimeFx Account Types
- Lime Trading (CY) Ltd – the owner of LimeFx – is regulated by CySEC and subject to oversight from the European Securities and Markets Authority (ESMA).
- The brand is also available in various countries around the world.
- The platform’s commitment to user-centric solutions is evident in its diverse account types and focus on creating a practical demo trading experience.
- Over 155,000 traders from more than 130 countries have registered an account with the firm.
- As for speed, most transfers are instant, with bank wire taking 2-5 business days.
While using LimeFx, our team were impressed with the breadth of trading tools and extra services. LimeFx offers an excellent range of deposit options to suit traders in different regions. This drops to as low as $0.0025 per share for accounts trading in volumes of at least 500k shares a month. LimeFx doesn’t charge withdrawal fees, but external payment providers may have their fee structures.
Sterling Trader Pro
The brokerage also provides access to several third-party platforms, including Sterling Trader Pro, CQG, ROX, and the iBroker mobile app, with access to demo versions. However, traders should pay attention to potential charges by individual payment channels. The deposit minimum is accessible, making the broker a decent option for seasoned and novice traders. Forex trading fees work using spreads to eliminate additional commissions or fees.
Trading Fees
We were pleased to see that the company’s online website is owned by LimeTrading (CY) Ltd, which is regulated by the reputable Cyprus Securities and Exchange Commission (CySEC). This means that the level of oversight and supervision on this brokerage is likely to be greater than that of an offshore and unregulated firm. This broker was established in 2007 and now operates in 130 countries with over 155,000 https://limefx.name/ clients. Its registered address is in Limassol, Cyprus but with offices around the world in Europe and Asia, this is a global broker. LimeFx has also won multiple awards, including the worldfinance.com award for Best Customer Service 2022. For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker.
For example, they offer over 30,000 stocks andmore than 90,000 option assets. Please note that full access to all assets isavailable on the MT5 account. The Standard and Forex ECN accounts primarilyoffer CFDs for forex, precious metals, and indices/energies. LimeFx offers a wide assortment of markets and instruments, including stocks (both US and international), ADRs, ETFs, futures, commodities, futures, options, forex, and bonds. IPO investing, robo-advisors, and individual investment portfolios are also available, as well as leveraged CFDs. LimeFx ensures its traders have a robust set of tools at their disposal.
Accounts can be opened in a decent choice of currencies which are EUR, USD, RUB. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency. I think they could improve further by adding support for some more currencies and crypto deposit like Coinexx. You can keep track of current economic data using the provided Economic Calendar. You can see previous, forecasted and actual results of each economic release. The rest of this review will explore theofferings, accounts, and trading conditions available from LimeFx ingreater detail.
Platform fees vary between $25 and $595, though CQG Desktop is free. Investing in futures and options costs $1.50 per contract per side (buy or sell). Overall, when we used LimeFx, our team found that it stood out for its wide selection of advanced trading tools. In essence, LimeFx has a deposit and withdrawal structure prioritizing efficiency with no hidden costs. Such policies solidify LimeFx’s reputation in the financial trading space. LimeFx offers a suite of tradable instruments, catering to traders with different all kinds of preferences and methodologies.
Each profile on Novoadvisor shows full transparency so investors can decide whether a strategy fits their personal needs and expectations. The firm doesn’t accept deposits in cryptocurrencies, such as Bitcoin and Ethereum. Accounts also cannot be funded by credit card checks, traveler’s checks, money orders, or Western Union. In addition, the platform has 11 preconfigured options trade structures available, including butterflies, calendar spreads, covered calls, iron condors, and straddles.
The broker can also restrict account access if it believes security has been breached. Lime Trading (CY) Ltd – the owner of LimeFx – is regulated by CySEC and subject to oversight from the European Securities and Markets Authority (ESMA). The company is also a member of the Investor Compensation Fund (ICF), which provides compensation to eligible clients if the firm is unable to meet its obligations. Note that, for credit card withdrawals from the MT5 Global account, a commission is not charged when refunding to the same card.
In the first two stages of the program, traders are placed on a demo/paper account and must meet a profit target while avoiding specific drawdowns and maximum daily loss amounts. If investors successfully pass both steps, they receive access to a funded real-money account and can trade on the firm’s capital (a monthly subscription fee applies). Investors on LimeFx can put money into investment funds that are managed by other users. Clients must allocate a minimum of £100 to take advantage of this feature.
LimeFx+ is a browser-based platform that requires no software download. It comes with a customizable interface, access to US exchanges, delayed market depth data, real-time news, and detailed stock information. LimeFx+ allows you to review all your orders and shows your current portfolio and market performance. However, like any financial undertaking, the choice of a broker should be rooted in meticulous research and informed judgment. While LimeFx’s offerings might resonate with many, aligning your unique trading objectives, strategies, and risk appetite with a broker’s features is pivotal. So, before diving into LimeFx’s offerings, evaluate the platform based on your goals and preferences.