Lime Fx Review year : Is It a Reliable Forex Broker?

The account stands out as a competitive option for traders of all experience levels. Beginners will appreciate the straightforward pricing model with zero-commission trading, while experienced traders will rate the tight spreads with no restrictions on trading strategies. Lime Fx offers reliable customer support to assist traders with any questions or issues they may encounter.

Is Lime Fx Regulated?

1. The other e-wallets Neteller and Skrill process deposits within an hour of the request and are instant for withdrawals, which is competitive.
2. Additionally, Lime Fx provides educational resources, including webinars and tutorials, to support traders at all levels in enhancing their trading skills.
3. Each account type comes with its unique features, allowing traders to choose the one that aligns with their trading preferences and strategies.
4. By providing a unique suite of resources, a VIP level of services, combined with world-class support 24/5, our low cost trading environment provides the ideal base to succeed.

Clients have access to the full suite of the out-of-the-box MT4 trading platform. It fully supports automated trading and is one of the most versatile trading platforms available. MT4 upgrades are available through third-parties for an additional fee to (potentially) enhance the trading experience.

The above live prices are provided solely for informational purposes, not for trading purposes, and may be delayed. Our team is happy to see that Lime Fx does not impose any trading restrictions, meaning strategies such as hedging and scalping are viable. An inactivity fee of $5 per month is applied after three months of no trading activity. No, Lime Fx is a legit broker with regulatory oversight from the VFSC and the CySEC.

Account Fee

Lime Fx has two operating subsidiaries, one authorized by the business-friendly VFSC and one by the CySEC, which operates under the globally least-competitive ESMA regulatory framework. MetaTrader 4 Multi Terminal is intended for simultaneous management of multiple accounts.

Lime Fx operates on a spread-only model, with spreads starting as low as 0 on major currency pairs. Lime Fx’s ECN/STP model provides professionals, active traders, hedge fund managers and corporate clients with access to real time streaming and competitive prices directly from leading multibank liquidity providers. While an Lime Fx no deposit bonus does not exist, Lime Fx offers a 100% first deposit bonus with a $2,000 limit. Terms and conditions apply, and I urge traders to read and understand them before accepting the incentive. Lime Fx occasionally introduces other bonuses and promotions, which have included a $50 Lime Fx no deposit bonus or annual interest on free margin.

With such a useful market analysis, we would love to see the section expanded to other pairs. Our forex broker ratings are the result of a blend of quantitative data and qualitative insights gathered during the testing process. This approach allows us to identify the best forex brokers for a variety of trading styles, skill levels, and financial parameters. Lime Fx was launched in 2010 by a group of forex experts aiming to create a competitive and supportive trading experience for clients through transparency and high trade quality. I like Lime Fx’s floating spread pricing model, which rivals the cheapest zero-commission brokers that I have reviewed. Tight spreads increase the viability of short-term trading strategies, while the no-commission model makes trading with Lime Fx simple for beginners.

In addition to this, Lime Fx also offers the possibility to use the extended security algorithms of Public Key Cryptography. Information secured in this fashion is virtually impossible to hack in any short amount of time. MetaTrader 4 includes trade alerts, a handy tool to help you track the most favourable trading environment and market conditions. Lime Fx assists limefx scammers clients trading through the MetaQuotes range of platforms, for example, MetaTrader 4 for PCs, MetaTrader 4 for mobile devices and the MetaTrader 4 MultiTerminal. ForexBrokersOnline.com aims to provide the most comprehensive source of information about forex brokers. Before making any trading related decision, contact a local professional financial advisor.

Demo Account

Lime Fx uses a no-dealing desk model and does not act as a market maker, reducing the risk of price slippage or a conflict of interest by the broker. Our team rates Lime Fx’s execution model, which combines straight-through processing (STP) and electronic communication network (ECN) to ensure fast and high-quality execution with low pricing. To avoid these charges, I recommend using Visa or Mastercard bank cards, as I found these do not incur a fee. We are also disappointed with Lime Fx’s monthly inactivity fee of $5, imposed when your account is not funded or you execute no trades over a period of 120 days. While this type of fee is not unusual, Lime Fx imposes it after a relatively short period of time, especially compared with OANDA, which only charges its $10 inactivity penalty after 12 months.

Lime Fx offers mobile trading apps compatible with both iOS and Android devices. These apps allow traders to manage their accounts and execute trades on the go with full access to MT4’s features. Lime Fx’s ‘No Dealing desk’ execution model comes with no dealer intervention and no re-quotes.

Forex Fees

One significant advantage is that Lime Fx offers a more in-depth introduction to MT4, which many brokers fail to do, and which can truly set traders up for longer-term success. Lime Fx maintains one of the cheapest Forex cost structures available, with commission-free quotes from 0.0 pips or $0.00 per 1.0 standard lot for the most liquid currency pairs like the EUR/USD and the USD/JPY. The average spread for major currency pairs is below 0.5 pips or less than $5.00 per lot, offering traders a distinct pricing environment advantage. Lime Fx offers traders a transparent fee structure with no trading commissions under its ECN XL account, relying solely on competitive spreads.

This works extremely well with MT4’s expert advisors for automated trading, and I frequently make use of it when trading on Lime Fx. On the downside, Lime Fx’s high fees for most withdrawal methods are a disadvantage. The $30 – $45 charges are way above brokers such as eToro, which only charges $5, and many brokers we evaluate that offer free withdrawals. During tests, the EUR/USD came in at 0.1 pips, which is tighter than rivals like Lime Fx with its 0.6 pips on the same pair. Spreads on other key currency pairs are also competitive, coming in at 0.5 pips on the EUR/GBP and 0.7 pips on the GBP/USD. Lime Fx offers a variety of convenient deposit and withdrawal methods to accommodate traders’ needs.

Lime Fx provides clients with daily technical analysis for the EUR/USD, GBP/USD, and USD/JPY. While each analysis is brief, it features all required information for traders to take a position. It also maintains a blog where it publishes market-related content, but the Forex News section does show limefx reviews wide gaps between its posts.