As spreads are much narrower than standard account spreads, traders pay round-turn commission fees of $7 when trading with LimeFX and from $4 when trading with limefx broker reviews FXTM. While LimeFX and FXTM provide reasonable ECN-style spreads, brokers such as Pepperstone and LimeFX offer better pricing with tighter spreads and low commission fees across all major currency pairs. LimeFX boasts competitive fees with low spreads and no maintenance or deposit/withdrawal charges. The broker’s transparent fees and varied account types offer flexibility to orders. While industry-standard fees include overnight funding and currency conversion, the inactivity fee may concern less active traders.
From our analysis, it’s evident that both brokers are committed to educating their traders. However, one broker slightly edges out the other in terms of depth and breadth of resources. Following FCA and CySEC regulations, traders receive investor protection up to £85,000 and €20,000, respectively. The investor protection insurance schemes ensure that in the case that LimeFX or FXTM become insolvent, traders can receive a certain amount of compensation to cover losses. If you are trading with FXTM or LimeFX outside of Europe and the UK, you will not receive protection via investor compensation schemes.
No matter the issue, they’ve always ensured I get the assistance I need, making trading with them a smoother experience. Once, I was having trouble understanding the differences between accounts, so I jumped on live chat. Clients who still need to meet the eligibility requirements can access the VPS by requesting it in the Members Area for a monthly fee of $28. limefx forex brokers reviews This fee will be automatically deducted from their MT4/MT5 accounts on the first day of each month.
What are Exotics in Forex Trading?
By safeguarding client funds and offering negative balance protection in specific jurisdictions, LimeFX prioritizes a secure trading environment, establishing itself as a trustworthy and reliable choice for traders. LimeFX also offers demo trading accounts, providing a risk-free environment in which to explore its platforms and available assets. Traders can deposit funds into their LimeFX accounts through methods like Visa, Visa Electron, Mastercard, Maestro Diners Club International, UnionPay, LimeFX Card, Skrill, Neteller, Web Money, and bank wire transfers. All withdrawal requests are instantly reflected in clients’ trading accounts as pending withdrawals. LimeFX processes requests within 24 working hours, but it may take up to five business days for funds to arrive depending on the final destination.
Manage Your Account
The indices CFDs offered for trading on the LimeFX platform include cash and futures equity indices. LimeFX is an online broker for trading on forex with a strict no re-quotes and no rejections policy. As such, an LimeFX client sells one currency against another at a current market rate. LimeFX and FXTM are both overseen by multiple top-tier financial authorities. As regulation varies between jurisdictions, the investor protection you receive depends on the subsidiary you are signed up to. FXTM offers a tiered system that is also dependent on an order’s value, yet the leverage offered is fixed.
- It allows you to practice trading with €/$/£10,000 in virtual funds and various leverage ratios.
- This also means that a necessity of currencies to be traded against each other is needed in order for this to happen.
- Both platforms are available in desktop, mobile (iOS and Android), and WebTrader versions, allowing trades to be executed from anywhere.
- Client funds are also protected through multiple compensation schemes, such as CySEC’s Investor Compensation Scheme.
- Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here).
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Both brokers offer the choice of commission-free and commission account spreads. Commission-free spreads tend to be wider as compensation for the broker’s services is included in the spread, while no commission accounts provide access to ECN-like spreads with traders paying flat-rate commission fees. As explained in the section below, LimeFX and FXTM offer a significant number of account types with different spreads depending on a trader’s location and the trading platform they use. Designed to facilitate forex trading for retail investor accounts, MT4 offers a range of trading tools to help users conduct analysis and develop strategies. Although the gold standard of forex trading platforms, market access is limited when compared to MT5, as share trading is not permitted.
Overnight Funding Fee
At LimeFX, clients have the choice to select the MT4 family of platforms or the MT5 family of platforms. LimeFX has a minimum deposit requirement of $5, which is lower than FTLimeFX’s $10 requirement. Both brokers’ amounts apply globally, and where they differ is in the payment methods available. LimeFX customers can get in touch with the online broker via live chat, phone or email. For those residing outside of Europe and the United Kingdom, LimeFX’s Ultra-Low Account is a commission-free option with tighter spreads than the broker’s Standard or Micro Accounts. Contract sizes are flexible, with both standard and micro lot sizes available.
That said, LimeFX falls behind with its limited pricing, range of markets, and platform offering — none of which can compete with the best brokers in this space. LimeFX is a trusted MetaTrader-only broker that offers an outstanding selection of high-quality educational content and market research. The current floating rates system, which we know today, was adopted after World War II and has been in effect ever since. At LimeFX deposits and withdrawals are performed via the LimeFX Members Area, which is fully functional on all mobile devices and which has been designed with mobile trading in mind.
