Another big downside is the lack of web trader compatibility, which I find convenient because it provides straightforward and fast market access. Lime Fx’s investment offering is excellent for forex traders but weak in other departments. Importantly, all deposits are fee-free, and e-wallets like Skrill and Neteller process within an hour, compared to 5-7 working days for wire transfers.
Is Lime Fx A Good Broker For Day Trading?
- Discussed individually below, these features include educational tools, customer support, and client monetary protection.
- I used the live chat function on several occasions and received timely responses in a few minutes each time.
- Lime Fx works very well for intermediate and advanced forex day traders seeking high leverage and tight spreads from a ‘frill-free’ broker.
- Importantly, all deposits are fee-free, and e-wallets like Skrill and Neteller process within an hour, compared to 5-7 working days for wire transfers.
- I’m talking about those traders who started trading quite recently.
It’s fine if you want a no-fuss trading experience but seriously lacking in the research tools, analysis features. Lime Fx is good for day trading thanks to its very tight spreads in the ECN account, leverage trading opportunities, and access to the fast and dependable MetaTrader 4 platform. Lime Fx has earned a good score for its fees due to the tight ECN spreads combined with no commissions, an unusual pricing model that places this brand among the cheapest forex brokers we have reviewed.
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This long-time industry favorite is starting to show its age after decades since its release, and we prefer for brokers to offer a selection of platforms with newer and slicker options, especially for beginners. Still, Lime Fx has done well by providing an attractive, affordable and simple account option for day traders who will appreciate having no trading restrictions or minimum deposit requirements. They have been established over a decade ago, so it they’re not going anywhere pretty easily. I like their no dealing desk approach too because they ensure that the trades are got executed with conterparties without taking the other side of the trade.which is a huge thing if you really want to trust your broker. It establishes a transparent environment for trading with minimal interference from the broker.it is also a very budget friendly platform, which is another great advantage for a lot of traders out there.
Reasons plus to Choose Lime Fx As Your Trading Broker
Withdrawals at Lime Fx are also disappointing, with all methods besides cards and wire transfers incurring a percentage withdrawal fee that can reach a hefty 3.4%, depending on the method. Wire transfers incur a $30-$45 flat fee (minimum limit of $500), many times more than the $5 withdrawal fee at eToro. On the downside, Lime Fx supports accounts in just a few currencies (USD, EUR, GBP), with USD only for wire transfers. As a comparison, Fusion Markets offers 10 deposit currencies, which can help prevent the need for often costly conversions.
Does Lime Fx Offer Low Fees?
This app comes equipped with sophisticated charting tools, including 30 technical indicators, 9 different timeframes, and 3 varieties of charts, ensuring a comprehensive trading experience. Lime Fx runs bonus offers in certain jurisdictions, and when I opened an account with the global entity I was offered a 100% deposit bonus up to $2000. Lime Fx offers a decent selection of payment methods including standard card and wire transfers as well as crypto and e-wallet solutions. This is a convenient range and I was especially happy with the inclusion of crypto payments as these are highly flexible and should work for traders based almost anywhere. I am not sure that this broker the most famous among traders. But that not why I liked it.It have really good trading conditions that suited me.
There is much written about the ECN XL account they have crafted and its reputation as one of the best account types is well deserved. This had bringed me to Lime Fx in the first place.Yesterday limefx company reviews I registered an account on this platform and I was surprised that even a deposit bonus is available. It can be a great boost, especially for traders like me with limited funds.
If you have traded with Lime Fx we would really like to know about your experience – please submit your own review. I’ve also read much of the educational content and was struck by its bland delivery with long-form text and limited videos or engaging elements like quizzes, all of which could elevate the learning experience. Similarly, the ‘Market Analysis’ section had a focus on just three currency pairs during testing which is not wide enough in my opinion. That said, the bonus could not be withdrawn, and if your account balance reaches below 50% of the available bonus credit, the amount will be removed. The sign-up process is also pleasingly simple and there is a swap-free solution for Muslim traders available upon request. This means that clients of Lime Fx’s offshore branch won’t get the same level of protection and won’t have access to compensation schemes or trusted regulators if things go sour.
This is essentially free credit that can be used for trading purposes, and I was pleased on this occasion that there were no minimum trading requirements. I only really missed having PayPal available since this industry leader is one of the most widely used e-wallets and is accepted by rivals, including XTB and IG.
However, some FX specialists like Forex.com offer thousands of additional instruments, so it’s disappointing to find just 27 non-forex assets on the Lime Fx platform. A Forex e-book and educational glossary are also included under the Lime Fx “Education & Research” header. This feature indicates that Lime Fx is perfectly fine with teaching new traders the ropes. It is safe and has the necessary security tools in place, and also has a lot of good trading conditions.
Before attempting to identify a connection problem inside the platform, first be sure that the login details, including the server address are correct. It goes against our guidelines to offer incentives for reviews. If you have experience trading with Lime Fx please https://limefx.biz/ share your personal review of the broker and what you think are strong and weak points. This average customer rating is based on 7 Lime Fx customer reviews submitted by our visitors. Compare Lime Fx with the top 3 similar brokers that accept traders from your location.
Discussed individually below, these features include educational tools, customer support, and client monetary protection. I use Lime Fx for forex trading and have been impressed with the huge range of currency pairs, transparent fees and reliable MetaTrader 4 platform. I think the client dashboard and website could do with an overhaul though – they are pretty dated.
The research tools are available via the company’s blog, which includes daily links to market news from other sources, but little of the in-depth, in-house analysis available from a leading broker in this field like IG. This is low compared to many brokers, but it’s still a downside since rivals like Vantage charge nothing, making them a better fit for casual traders. I really like the ‘average spread tool’ available on the broker’s website which displays fees over recent trading sessions.
