Traders who follow the Islamic account are likewise accredited. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Safety and Regulatory Compliance
The list may vary depending on the account type and the LimeFx Group entity you are trading with. To find out which ones you can open in your country, please give a look at the LimeFx account type guide. The more money you transfer, the longer it will take to reach your local bank account. If you’re looking for a quick and easy option, credit/debit cards might be your thing and I agree with the above comment. But they can be a little pricey and some banks might have some rules about how much you can deposit or withdraw. Passionate in contemporary global financial issues, I’m currently active in researching topics on cryptocurrency, forex, and trading strategies.
Mobile Trading: Android, iOS, and Other Platforms
- The broker offers a news feed from Reuters and an economic calendar.
- The company’s Trading Account Types page provides important information about available accounts, including base currency options, contract sizes, typical spreads, and commissions.
- All LimeFx entities offer negative balance protection, which means that clients will not lose more money than they have in their accounts.
- The broker frequently updates its bonuses and promotions on its website.
They are the Cyprus Securities and Exchange Commission, CySEC, the Australian Securities and Investments Commission, ASIC, and the International Financial Services Commission of Belize, IFSC. LimeFx email support works well and typically provides answers in 24 hours or less. You have to provide your name, country of residence, phone number, and email address. All the information provided should be accurate because it can help you secure your account or reset your password when necessary. Once you have opened the website, you may choose to open an account.
LimeFx Review 2024
The Ultra-low account type is the low-spread account where the spreads on most popular currency pairs, such as EUR/USD start at 0.6 pips, which is at least 0.4 pips lower than the market average. The main drawback is that LimeFx’s Indonesian clients will be trading through LimeFx’s https://limefx.name/ Belize company, which has less regulatory oversight. LimeFx offers five live accounts, which is more than any other broker, and has relatively average trading fees. All LimeFx accounts, except the stock accounts, have a minimum deposit of 5 USD, making them accessible to beginners.
Yes, LimeFx offers Negative Balance protection to protect its clients’ funds. After the trader has made their selection, they will be redirected to the payment processor page to confirm their deposit. Clients who choose the MT5 platform have access to a wide range of instruments ranging from currencies, stock indices CFDs, gold and oil CFDs, as well as stock CFDs. By opening a trading account, you will be automatically emailed your login details that will give you access to the LimeFx Members Area. LimeFx is ready to create custom-tailored forex account solutions for every client. If the deposit currency is not USD, the amount indicated should be converted to the deposit currency.
Take Your Trading On The Go
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs, FX or any of our other products work and whether you can afford to take the high risk of losing your money.
The stock offering is especially interesting as LimeFx offers access to stock CFDs from various global markets. LimeFx received a below-average score in the Tradable Instruments category. The broker’s offering is strong in the commodities, stocks, and indices segments, but it does not provide access to cryptocurrencies outside its Belize-regulated entity.
A demo account is a great way to get started in the Forex trading market and it offers you the opportunity to access the market without any issues. All of these accounts are very popular among the clients of the broker but they are very different from one another. The main idea behind offering so many different accounts to traders is to make sure that anyone can find something that they are looking for in the market. The mobile trading platform allows traders to gain access to multiple tradable assets, including forex, crypto, and CFDs.
Overall, LimeFx can be summarised as a trustworthy broker that is regulated by one tier-2 regulator and one tier-3 regulator. LimeFx is regulated by the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), and the International Financial Services Commission (FSC). LimeFx offers 25+ secure payment methods and negative Balance Protection and is trusted by over 5,000,000 clients in over 190 countries from across the globe. Furthermore, the trading instruments offered by LimeFx may differ based on the trading platform you choose. With LimeFx, you may trade a large range of equities and commodities, in total over 1000. Because of the variations in trading accounts, you might accept several forms of leverage offers.
He is passionate about financial markets and cutting-edge technology. With a dynamic 16-year trading career, he’s on a mission to guide fellow traders. Having navigated diverse forex brokers, Jason shares his insights at Brokersway to bridge the gap between traders and the right brokerage. If a customer withdraws less than $200 from their trading account via bank wire transfer, they will incur a $15 administration fee. LimeFx, headquartered in Belize City, Central America, has been a significant player in the online brokerage industry since 2009.
An alluring incentive program is offered by LimeFx Broker to entice new traders by Depositing additional monies into their Accounts. Depending on where you live, you may be eligible for a $30 no-Deposit Bonus when you open a new Account. It’s vital to remember that Deposit incentives cannot be immediately withdrawn; instead, trading activity participation is required. However, any earnings from your trading activities are entirely yours, and you are free to withdraw them whenever you like. LimeFx also provides a diverse suite of market research and analysis tools to keep traders informed and ahead in the financial markets.
With LimeFx, you have the freedom to Deposit Money in several currencies. This Money will be automatically translated using LimeFx’s inter-bank exchange rates into the base currency of your Account. Like other trustworthy Brokers, LimeFx provides limefx broker reviews Accounts in a variety of base currencies. It is practical for traders globally because your base currency is essentially the one you use for trading and making Deposits. Jason Paine is a forex trader, researcher, and tech enthusiast.
You can make a minimum deposit LimeFx Forex either through bank wire, Visa/Mastercard credit, and debit cards, UnionPay, Skrill, Neteller, Bitcoin, USDT, WebMoney, and Perfect Money. One of the most common and favorite payment options for South African traders that LimeFx supports is M-Pesa, which is a mobile payment app exclusively partnering with LimeFx. LimeFx minimum deposit in ZAR is around 72 rands, or equivalent to 5 US dollars. It is the same for the three most popular account types of the broker – Micro, Standard, and Ultra-low trading account types. The LimeFx Micro ZAR account is the most budget-friendly account since it calculates trades in micro-lots instead of the standard ones. While LimeFx Ultra-low ZAR account is the most convenient account for South African Forex traders who are seeking ultra-tight spreads on Forex currency pairs.
It’s a big question why brokers that aren’t regulated don’t accept US traders but are willing to accept traders from other countries. Skerdian Meta FXL’s Heading Analyst is a professional Forex trader and market analyst and has been actively engaged in market analysis for the past 10 years. Before becoming our leading analyst, Skerdian served as a trader and market analyst at Saxo Bank’s local branch, Aksioner, the forex division and traded small investor’s funds for two years. Traders will need to verify this information with their banking institution and realize that banking processes are also subjected to the day of the week and the time of day in processing withdrawals. Withdrawal turn-around and delays may also be subjected to factors outside of LimeFx’s control and may be due to the trader’s banking institution’s own internal processes with releasing funds.
Subsequently, you will be charged $5 monthly if this inactivity persists. LimeFx is regulated by the Financial Services Commission, ASIC, and CySEC. The LimeFx broker is very good and reliable as it is well regulated by the necessary regulatory bodies. LimeFx is governed by the International Financial Services Commission of Belize (IFSC) for clients in the rest of the world. Customers in this category, including those in Australia and the Middle East, lack specialized protective coverage. All customer monies are stored in segregated Accounts that are distinct from the business’s funds.