However, we are disappointed to find that limefx courses scam there 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. Many of the available trading platforms like MT4 and MT5 have a web platform, which runs through a browser and does not require any downloads.
Trading assets offered by LimeFX
I needed to determine the type of trader I’d be before choosing the right broker. For example, the company offers Sterling Trader Pro, Etna Trading Platform, OEC Trader, and CQG Trader. The brokerage also offers FIX (Financial Information Exchange) and REST (Representational State Transfer) APIs. In this LimeFX review, we look at the platforms they offer. Therefore, any trader style should find a suitable platform among the choices.
Does LimeFX Offer Low Forex Trading Fees?
For example, the Standard account offers a reduced list of metals and CFDs in addition to forex. The Forex Standard account offers commission-free trading with spreads from 0.5 pips. This is noticeably tighter than the variable spread accounts at the majority of brokerages. Credit card withdrawals usually take 5-10 minutes, though some other withdrawal limefx forex brokers reviews methods can take up to three days. Minimum withdrawal amounts also apply to certain processing methods.
- We have members that come from all walks of life and from all over the world.
- LimeFX have a variety of 20+ convenient methods for depositing and withdrawing funds from your trading account.
- Note that, for credit card withdrawals from the MT5 Global account, a commission is not charged when refunding to the same card.
- Trading charges on LimeFX vary depending on the account type.
- LimeFX is also a member of theInvestor Compensation Fund.
How to Use the LimeFX Brokerage?
Now, to finish off the review, let’s see just how difficult (or simple) the registration process to the site actually is, and how long it takes for you to be able to start trading crypto. Now, if you plan on trading cryptocurrencies long-term, that’s not an issue. However, it can still prove to be annoying, granted that many exchanges out there have much smaller requirements, a far as crypto purchases go. They are going to depend on the cryptocurrency of your choice, but are likely to remain super-low, and mostly dependent on the blockchain. Naturally, we’ll also talk about the less-positive sides of the platform, too.
TRADING HELP
If you are an institutional trader then you will be impressed with the FIX API connectivity and managed accounts whereas there is the professional account option. If you are looking for a convenient way to trade the markets, I would certainly give them further consideration. LimeFX is a competitive broker that is regulated by a reputable body and offers an impressive range of assets that includes cryptos, options, CFDs and equities.
We appreciate that there are no deposit fees on the Standard and MT5 Global accounts, although third-party fees may apply to bank transfers. 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.
LimeFX offers lower fees than most forex brokers based on our evaluation. The MT5 Global account is particularly competitive, with spreads from 0.0 and a commission up to $2, which is significantly lower than most alternatives. LimeFX is a reasonable forex broker for beginners, but not the best we have tested.
We rank the broker down when it comes to educational resources. There is a blog, an index of financial terms and a collection of research notes (both a subscription and a historical library). Yet it doesn’t offer the same user-friendly interface, or have as good a reputation as alternatives like eToro.