To protect the client’s fund in the event of extreme volatility, LimeFx presents each account type with Negative Balance Protection. Minimum deposit of $5 applies to Standard, Micro, and also Ultra-Low Accounts. Traders who open accounts in LimeFx are enabled a condition similar to a Cent Account environment in the Micro Account, in which the Contract Size for every lot is only 1,000 units. If it is applied with the smallest lot size in the MetaTrader platform which amounts to 0.01, it means that traders can go as small as 10 units per trade. While reviewing LimeFx, we found that the Forex broker offers traders different types of bonuses and promotions created to help them increase their final profits in the market. If you are a Forex trader with almost no experience in the Forex trading market, it might be better for you to start trading using a demo account.
Market Research And Analysis
As we have already mentioned, LimeFx Is a global Forex broker, offering services to citizens of over 190 countries. To be able to offer services to so many traders around the world, LimeFx had to get licenses from regulatory agencies around the world. If you are withdrawing to your domestic bank, you will be charged a fee for withdrawals above $200. On average, it takes one to two business days for the funds to arrive.
Where is LimeFx based?
It’s great to know that we can choose a payment type that suits us best for our LimeFx account, and it’s reassuring to hear that LimeFx ensures the safety of our transactions. I also noticed that LimeFx provides additional payment options like Western Union and MoneyGram, although their availability may vary depending on our location. When you choose wire bank transfer as your payment option, you’re essentially transferring funds directly from your bank account to your LimeFx trading account. It’s like sending money from one bank to another, but in this case, it’s for your trading adventures. While it’s true that using different payment methods for deposit and withdrawal might provide some flexibility in terms of costs, LimeFx prioritizes security and compliance with regulations.
LimeFx CY Trading Account Types
Traders must understand these differences to evaluate whether the broker suits their needs. LimeFx has entities that are regulated by CySec (Cyprus), ASIC (Australia), FSC (Belize), and DFSA (Dubai). The broker received an above-average score in the Trust category in our rating as its entities are regulated by Tier 1, Tier 2, and Tier 3 regulators. If you are looking for a platform that is easy and straightforward to use and that looks after their users, LimeFx could be the right option for you. Lower overall spreads can be achieved by LimeFx as they are the sole dealer in every single trade. Having been around since 2009, LimeFx are regulated by a number of trusted authorities.
Being a novice trader…
Looking at the LimeFx Zero account, the average spread for EUR/USD is 0.1 pips excluding the commission. For the same pair on the other two accounts, the average spread for this currency pair is 1.7 pips. They offer more than 30 language options for their users and they cater limefx forex brokers reviews for any and all levels of trader. One of the recent awards they have received is being named as the best FX broker in Europe in 2018 by the World Finance Magazine. We also use different external services like Google Webfonts, Google Maps, and external Video providers.
Furthermore, in 2015, the broker has introduced a new opportunity for the traders residing in South Africa and Singapore – they can now choose ZAR and SGD as their base currencies. Therefore, you will not need to worry about currency conversions all the time. Forex Traders often wish to trade with brokers that offer suitable trading conditions, affordable minimum deposits, and easy-to-use trading platforms. Sometimes they even trade with loosely regulated forex brokers for lower minimum deposits and higher leverage. LimeFx is one of the highly regulated forex brokers that offer online trading services to traders worldwide. LimeFx has one of the most diverse payment method portfolios among all Forex brokers.
Then, check out the extra perks they offer – like better trading conditions or special features. Aside from that, any deposit of above $200 via bank transfer is also included in the zero fees policy. The options depend on the country in which you live and each method has a different set of rules to consider. In terms of trading instruments, LimeFx is a well-known diverse class assets provider, varying from Forex, Crypto, Stock CFDs, Turbo Stocks, Commodities, Equity Indices, Precious Metals, Energies, & Shares. LimeFx prides itself to be the ideal broker in trading execution, offering a stat of 99.35% orders to be executed in less than 1 second. I think most newbies have tried this broker due to their heavy marketing.
- These accounts have multiple base currency options, including USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, and ZAR.
- It should be noted that the minimum deposit with LimeFx may vary depending on the type of trading account chosen.
- Jason Paine is a forex trader, researcher, and tech enthusiast.
So this can also cause the withdrawal process to take a long time, which must have been processed within 24 hours to beed. Maybe this can be noticed when you want to make a withdrawal, sometimes we traders don’t know about it. Another thing to consider is that brokers often prioritize the safety and security of your funds. They want to make sure that everything is in order and that there are no issues or potential risks when it comes to processing your withdrawal. This extra caution might cause a slight, but it’s ultimately for your protection. Think about things like fees, processing times, and availability when you’re picking a payment method.
LimeFx covers the majority of the fees related to credit card and e-wallet transfers. The safety and integrity of LimeFx’s services across different regions are supported by this regulatory oversight. LimeFx does not direct its website and services to any individual in any country in which the use of its website and services are prohibited by local laws or regulations. LimeFx does not affirm that the information on its website is suitable to all jurisdictions. If you are a beginner, you may start with as little as $100 or less.
Execution is swift, no slippages, tight spreads, and many trading instruments and tools. To keep your money safe, you need to find a separate account policy. It is best for securing your funds, creating conditions of trust between you and the broker.
This fee is charged in case there was no activity in the trading accounts for 90 days. When it comes to withdrawing from LimeFx, most options will have your withdrawal processed within 24 hours without having a minimum required withdrawal. If you are withdrawing via https://limefx.club/ a bank transfer, then you will have to wait between 2 and 5 business days for it to be processed and there is a minimum withdrawal of $200 in place. The Micro account is best suited to beginners, with the standard account being ideal for flexible traders.