LimeFX is an online foreign currency exchange broker that was founded in 2010. The company has been a member of the Cyprus Securities and Exchange Commission (CySEC) and is also licensed as a registered investment firm in the United Kingdom, Australia, and South Africa. LimeFX has been operating for 10+ years, and they’re known as one of the largest and most reliable online trading brokerages globally.
Processing times depend on the geographic location and the payment processors, which LimeFX lists as between one and ten business days. There are no internal deposit or withdrawal fees, except for traders who request a withdrawal without placing a trade, which carries a 3% fee. LimeFX notes the availability of 80+ currency pairs, making it an ideal Forex broker. Traders also get 15+ commodity CFDs, 20+ index CFDs, 30+ futures, and 150+ equity CFDs. I find the well-balanced asset selection suitable for most retail Forex and equity traders requiring fewer but highly liquid trading instruments, like day traders.
LimeFX is a big scam broker
Additionally, LimeFX’s customer support seems to struggle with addressing more complex questions, such as what their average execution speed is. In general, LimeFX’s offering is slightly more competitive than the industry average. Traders can choose between commission-free, swap-free accounts and accounts with low floating spreads. I like the trading fees in the LimeFX Absolute Zero account, where traders get commission-free spreads from 0.3 pips. VPS hosting exists for algorithmic traders and copy trading services are also available with a balanced asset selection and active trading community.
Is LimeFX suitable for spread betting?
- The app allows traders to access their accounts, view real-time market quotes, execute trades, and manage their positions while on the move.
- Its 200+ instruments and multiple platforms are accessible in 180+ countries with 50,000+ retail traders worldwide.
- LimeFX provides Virtual Private Server (VPS) hosting to ensure better connection and faster execution for algo trading.
- Plamen’s favourite trading instruments include FX majors and gold.
- MT4 has a short learning curve whilst there are plenty of online tutorials that can help to familiarise new users to the platform.
LimeFX uses standard security features to keep clients’ personal information secure, including website encryption. Our team limefx were also pleased to see that the broker offers negative balance protection, meaning traders cannot lose more than their account balance. Mobile users benefit from total trade management without having to sacrifice functionality.
These numbers may be deceiving, given the broad variety of accounts, fees, and routing choices. Spreads drop significantly on major Forex pairs between Micro and VIP tiers but minor pairs show no variation. In addition, tiers apply only to forex, with all account types paying similar spreads and/or commissions when trading CFD or spot instruments. Several pages not properly linked to the main site announce the availability limefx scammers of cryptocurrency trading but our reviewer found no contract, spread, or fee information. I evaluated LimeFX’s fixed/floating spread and STP/ECN account types across multiple factors and discovered certain important differences. As shown above, the latter tend to have more favorable spreads and commissions.
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Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University. We use proprietary AI technology to assist in some aspects of our content production. However, our scores, ratings, and rankings of online brokers are based on our in-depth product testing and thousands of hand-collected data points.
Clients are supported in over 30 languages, 24/5, and can access their personal trading account from MT4 on desktop or trade on the go. In addition, the broker offers daily, updated educational and market news delivered by a multi-lingual professional research team. Entering the financial markets with LimeFX is simple, transparent and supportive for all levels of investors. You can choose among Webtrader, VPS Hosting, PMAM, and (our favorite) MT4 trading platforms. Finally, the fine print advises that spreads widen significantly during volatile and off-market periods, even with fixed spread accounts.
I wanted feeling special
LimeFX primarily makes its money from dealing spreads, although you might have to pay additional fees depending on the asset and type of account you choose. Today, after some weeks of intense trading on indices, I decided to withdraw my funds. The process was relatively easy and fast, maybe because of the understandable client portal interface. LimeFX didn`t charge any fees for withdrawal, so all I need to do is to wait for my money to come.
