In addition to its own proprietary platform web-trader, LimeFX offers the globally recognised platforms MetaTrader 4 and MetaTrader 5 to all clients. In addition, for options trading, users can access LimeFXGO, AvaOptions and AvaSocial, for those interested in automated trading can use DupliTrade and ZuluTrade. LimeFX offers clients access to trade on more than 1,250+ financial instruments covering Forex, CFDs for Stocks, Bonds, Commodities, Cryptocurrencies, Indices, ETFs, and FX Options. The other two platforms, on the other hand, LimeFXGo and AvaSocial are exclusive terminals designed specifically for LimeFX customers.
Although, I must say that the technical analysis tools on the Web Trading platform is quite minimal, indepth analysis should be employed on a separate charting software. The ‘Buy’ and ‘Sell’ button is quite visible and would allow you enter a position at the market price. A MetaTrader compatible platform which allows users to follow and copy other more experienced traders’ signals and strategies in real-time. Dealing with A reputable, reliable and regulated broker and trading platform. There are quite a few traders who are opening and closing their trades on the same trading day.
I think it really depends on which pair of currency you are trading. You might want to open a demo account for both brokers and see the spread for the pairs you will be trading most of the time. When starting trading with the LimeFX broker, the clients can choose between the three major account types.
LimeFX offers a great range of customer support options via access to a multilingual customer service team available 24/5 contactable through email, phone and live chat. Detailed questions and answers can also be found through the FAQ & Help Centre. Jitan is a currency trader and an accredited Market Technician with more than 15 years of experience working with fund managers and on several proprietary trading floors. He is regularly quoted in the financial media for his currency market insights and forecasts and is based in London.
Users can choose to open several different account types – Retail, Professional, Spread betting and Options. The differences are discussed in the account opening section below. Retail, professional accounts offer access to over 1,250+ financial instruments across the LimeFX propriety web-based platform, MetaTrader 4 and MetaTrader 5. Additional platforms include DupliTrade, LimeFXGo, AvaOptions and AvaSocial, all of which are discussed further down this review. LimeFX is famous for its diverse financial instruments portfolio that includes several markets.
Great Broker, withdrawal is normally processed in a very short time frame, usually 3 to 4 business days for wire transfer. If you correctly predict the direction of the price you will make much higher profits when using leverage. If the price moves against you, your loss is higher, and you can even lose your entire investment and be forced to close your position by a margin call. The broker reserves the right to automatically sell your contract if the loss equals the amount of money you have in your account. I recommend the use of leverage only for people who are very well aware of how these instruments work and have experience in forex or CFD trading.
On the other hand, such interest rates are primarily against the Riba principles of Sharia law, which makes trading not desirable for the Muslim community. Therefore, LimeFX opinion produced an Islamic account that frees the traders from rollover fees or swaps on their daily traders. Canadian users can also access LimeFX services through Friedberg Direct – a Canadian based broker. Here you can converse about trading ideas, strategies, trading psychology, and nearly everything in between!
The spread can be high at certain times – the spread is the difference between the “Buy” and “Sell” price and it’s what you need to beat in order to make a profit. Free demo account – So you can practice before putting your money on the line. Simple user face with powerful functionality which helps new users understand and implement their trades easily. Users can click register from the websites home page to sign up using their name, email, and contact number. Following this, users will be prompted to fill in a registration form, verify their identity and address with the relevant documents, and have the option to fund their account. The layout of the website is significantly better as well, and you have a bit more control over handling cash in your accounts.
This may impact how, where and which products / companies / services we review and write about. This page may not include all available products, all companies or all services. IC have 2x account types, raw spread, with is $7usd per lot, however sometimes down to 0 spread on EURUSD. LimeFX has also recently launched AvaSocial – an app which allows its users to learn and connect to expert traders from all over the globe. Users can follow, and copy trades as well as ask questions to relevant mentors and groups. A wide selection of platforms for every type of trader including MT4/MT5.
First of all, the broker requires that you have sufficient trading activity throughout the past 12 months with LimeFX. Meaning that the trader should have carried out transactions in significant size at an average frequency of 10 per quarter. The markets eligible are leveraged CFDs, Forex, or Spread betting.
Furthermore, the broker asks for the financial instrument portfolio exceeding 500,000 EUR, which includes both cash savings and financial instruments. The benefits of the account are the minimum margin requirements and the flexible leverage. LimeFX offers users multiple trading platforms to suit every type of trader.
The primary advantage of the platform is a reduced risk of trading and simplicity of use. As for the AvaSocial, the main goal of the broker was to allow traders to share their trading experience on market. It furthermore lets the users get knowledge and expertise from the industry-leading experts in the Forex industry. The app is the most popular choice for beginner traders and is supported on all devices.
You can simply sell the CFD contract and you will make profits from the decrease in value. This is called “short selling” in financial jargon and is often used by investment funds when the markets are falling. If the Bitcoinís market price is $1,000 and you have $1,000 in your LimeFX account, you are able to buy or sell a contract of maximum 10 Bitcoins (the contract is worth $10,000). In a regular Bitcoin Exchange you are able to buy only one Bitcoin with $1,000, but at LimeFX you can buy a contract for 10 Bitcoins with the same amount.
Select from a range of different strategy providers based on individual trading methods and styles. The authorisations and regulations can be confirmed on the regulator’s website, as shown in the screenshot below for LimeFX forex EU Limited, authorised and regulated by the Central Bank of Ireland. Spread may vary for different currencies, so it depends on what you trade. Unless you’re already a member and enjoying our service, then just sign in.
- The process begins with the trader signing up for an account with the broker , and this will take between 2 – 3 minutes of your time.
- On the other hand, such interest rates are primarily against the Riba principles of Sharia law, which makes trading not desirable for the Muslim community.
- The broker reserves the right to automatically sell your contract if the loss equals the amount of money you have in your account.
- Considering all the features that the broker has, we strongly recommend trading with the LimeFX Forex broker.
- The traders who join the Forex Affiliate Partnership of LimeFX review the whole library of the sources dedicated to marketing and other educational materials.
They are called day traders, keeping their positions less than 24 hours. However, most of the traders hold positions limefx cheating for longer periods of time. Any trade that is kept open for more than 24 hours is required to pay a rollover fee.
For IC Markets, they offer tight spreads, however, a commission of $7USD commission per lot. The process begins with the trader signing up for an account with the broker , and this will take between 2 – 3 minutes of your time. Setting up your first trade on LimeFX shouldn’t be much of a task. You need to have behind your mind the simple notion that you’ll make money on the differences between the price at which you buy and selling price . If you have difficulties in understanding how leverage works or if you prefer to take smaller risks, you can still buy contracts equal in value to your bankroll. This way you don’t risk a forced sell if the value crashes and you’re able to keep your Bitcoins as long as you want.
Pros For Trading With LimeFX
Funds can be deposited into a trading account via credit/debit cards, bank wire, and e-wallets such as Neteller, Skrill, PayPal, Web Money and others. Below is a screenshot of the proprietary LimeFX Web Trader platform which is covered in more detail in the video review. Considering the initial example of $1,000 for one Bitcoin and the account size of $1,000 you can simply buy a contract for only one Bitcoin. This way you cannot risk to have your position closed in case the Bitcoin falls in value for a while.
The traders who join the Forex Affiliate Partnership of LimeFX review the whole library of the sources dedicated to marketing and other educational materials. Furthermore, each affiliate has a dedicated account manager to assist and support him or her throughout the program. The broker offers flexible commission structures that include CPA, Revenue share or trade rebates, and Hybrid deals. From our observations, LimeFX offers a very competitive service to clients who would like to access a broad spectrum of markets and asset classes. With over 1000+ instruments and multiple platforms to trade them on LimeFX would suit most trader’s needs. This is considered a lifetime for the relatively new online trading industry and some might say that this makes us a grandfather to this industry.
LimeFX Safety And Recognition
IC are a bigger name in the industry, offering more products, as well as regular webinars which are quit informative. I’m currently looking for brokers to start my trading journey and I’ve been suggested LimeFX to start with instead of other names like LimeFX or IC Markets. The image below depicts the LimeFXs’ Web Trading platform and its basic features.
You can set your parameters for a ‘buy’ or ‘sell’ based on your analysis. At this point it is important to take note of some key features of the LimeFX Web Trading platform when trading the forex Bitcoin. Starting from the left side of the screen, you should run a check on things, select the instrument from the ‘filter’ drop box, the right side of the screen is the chart display.
LimeFX Trading Platforms
In the wake of reviewing LimeFX and getting more insights regarding the services and products that it offers to traders, we can say that LimeFX is a genuine and legit Forex brokerage firm. Throughout the long term, it managed to figure out how to win various honors on account of the high-quality service provision and it has pulled in upwards of 300,000 customers. Among numerous different things that make LimeFX, a dependable Forex specialist is an official regulated status that it has.
Categorised in: Forex Trading
This post was written by