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Among the disadvantages, this broker has low leverage and fairly high spreads, as well as the absence of ECN accounts. You can open one of three account types with LimeFx; Silver, Gold, or Platinum. All account types come with a minimum deposit amount of $250, yet some offer more benefits than others.
The video-on-demand section provides access to a vast range of trading education videos that cover a variety of topics for both beginner and advanced traders. This includes MetaTrader videos, trader psychology, and advanced strategies. The customer support team of LimeFx can be via Telephone, Live Chat, and Email. Potential traders need to be assured that the broker company they chose can offer the necessary support and help whenever they may need it. The ease with which such support teams can be contacted may also play a role when choosing a broker. Forex brokers often lure new traders with offers of deposit bonuses.
Aside from geographical restrictions, however, there’s not much else standing in your way of trading with LimeFx. Our LimeFx review found that the minimum deposit is accessible at just $250, and the broker accommodates traders of all skill levels. LimeFx does not provide you with standalonetrading toolsbecause they feel like there are enough tools available on the trading platforms.
As expected, the spreads on Platinum accounts are the narrowest, starting from 2.1 points on the popular EURUSD pair. Then the spreads increase to 2.5 points on the Gold account and up to 3 points on the Silver account for the same pair. It is also interesting to note that the broker does not charge a commission from any of the account types, but instead receives all of its income from spreads. LimeFx is available for traders within Australia and New Zealand. It does not offer services to clients from the United States, Canada, the UK, or Europe.
Therefore, any further inquiry required by traders can be found through this. Furthermore, the courses section is also enriched with a lot of video tutorials that are free for all traders. Built-in economic calendar and lots of educational resources. LimeFx is based New Zealand company that is regulated by the New Zealand Financial Markets Authority and the Australian Securities and LimeFxs Commission .
Traders who register with LimeFx can have access to several Forex pairs that cover major, minor, and exotic currencies. It also offers metals, https://limefx.biz/ precious metals, stocks, and several more. The same method that was used to fund an account must normally be used to withdraw money.
(dont market makers have fixed spreads??) also their demo and live spreads are wildly different. During our review of LimeFx, we noted that the broker supplies you with extensive educational materials. This is great if you’re a beginner trader, as you can put your new knowledge to the test immediately. It also shows that LimeFx is a responsible broker, as they want you to make informed decisions and improve your trading knowledge and skills.
This facility that enables traders to get a larger exposure to the market than the amount they deposited to open a trade, is called leverage. While trading is commission-free, spreads and swaps are payable. Silver accounts have spread from 1.8, Gold accounts have spread from 1.8, and Platinum accounts spreads from 1.8. To create an accurate review of LimeFx forex broker, our experts deposited their own funds. They were pleased to find that you can choose from a wide range of payment methods, including credit/debit cards , wire transfers, PayPal, Skrill, Neteller, and VPay. If you are a Muslim trader, you can also create an Islamic account to eliminate swaps and interest fees on overnight trades.
CFDs also help a great deal in trading in this financial market. The daily price fluctuations can seek advantages using complex financial derivatives or contracts for difference. You do not have to own the underlying assets in long-term and short-term LimeFxs.
LimeFx has everything covered that you require as a financial market user. LimeFx is the trading name of CTRL LimeFxs Limited, located in New Zealand. It is one of the most highly reputed forex brokers in the world. The company offers trading over 300 CFD assets and instruments like forex, shares, cryptocurrency, commodities, indices, and precious metals. LimeFx is a fully regulated Forex broker for traders from Australia and New Zealand. Among the advantages, in addition to reliable regulation, we can note a large selection of trading instruments, a convenient MT4 platform and round-the-clock support.
They take deposits through bank wire, credit/debit cards, and other online payment systems like Skrill and Neteller. As a beginner, I open an account on LimeFx, It takes only a few minutes. I like their research tool and education material which save my research time But their spread and leverage are very high. Yes, as a trader, you get to rejoice in several technical analysis tools that can help in enhancing the trading. On the other hand, the broker doesn’t charge any deposit fees or withdrawal fees.
I did the exact same trade on 4 different firms’ MT4 platforms. On 3 I made a 14 pip profit and on MahiFX was spiked out wiht a loss of 12 pips. What a disappointment, I was expecting so much more from this firm and well that’s what limefx forex broker I got. Take note, those who warn against market makers are maybe right. This was my first broker I signed up with and did end up noticing some inconsistencies with their spreads jumping up 2x -3x with some pairs and not exotics.
First off, it features two comprehensive licenses from the ASIC and FMA of Australia and New Zealand, respectively. In addition to that, LimeFx has a transparent pricing structure and has gained popularity in the industry. You can use this to practice trading or test strategies once you’re more experienced. LimeFx was established in 2019, and it has headquarters at Level 13, 1 Albert Street, Auckland 1010, New Zealand. LimeFx accepts traders from both Australia and New Zealand, yet due to regulation, it does not extend its services to the US, Europe, or the UK. Follow along in this LimeFx review to find out every important detail about this forex broker.
Traders can file withdrawal requests through the withdrawal form available on the broker’s website. As per the broker rule and regulation, the withdrawal request should be processed within five business days. Usually, it takes 2-3 days to complete the withdrawal request by the broker.. LimeFx does not charge any commission from their clients. Due to this, Traders need not worry about the trading commission. As per the review, LimeFx follows strict security rules and the users can be sure that their data is tightly secure.
Below you can see how LimeFx scored in each of our high-priority categories. As per our review, the brokers agents will verify the accounts within a short time, which does not exceed more than 48 hours. LimeFx offers different spreads on its various accounts. LimeFx warns potential traders that Forex and CFDs trading always carries a high level of risk, therefore may not be suitable for all investors. The broker also provides access to a large range of eBooks that cover different topics such as market analysis and trading psychology.
This is clear from the broker’s regulation by both the NZFMA and ASIC, and the strong reputation of its parent company. Client fund protection and security measures provide even more confidence for Australian and New Zealander traders. Aside from this, the platform uses SSL technology and data encryption and it also offers powerful firewall protection to protect the confidential information from cyber threats.
MetaTrader 4 – With MetaTrader 4, you’ll be able to use all the above tools and four pending order types. LimeFx also allows you to expand the software by adding thousands of third-party indicators from the MLQ5 community. You can use a range of payment methods to deposit at LimeFx, including Visa, Mastercard, Maestro, Skrill, Neteller, and VPay. You can also fund your account by wire transfer from all major banks in Australia and New Zealand.
Unfortunately, if you use Heiken ashi and begin scalping on Mahifx, you gonna lose your statute of victim that you acquired with other big brokers with their thick spreads. MT4 Mobile Application – available as a native app for both iOS and Android devices, MT4 for mobile offers you the same functionality and features even when you’re on the go. LimeFx’s’ CFD products and services are not available to US citizens and US residents.
Withdrawals using certain methods may be processed within a shorter period than others. Usually, withdrawals take a few days but depending on bank services it may take several days longer for the money to be available in a customer’s bank account. No, but fees from financial institutions may be applicable and more information about applicable costs can be obtained from the company’s customer service team. LimeFx uses sophisticated technology to ensure that clients’ data and funds are always secure. According to the company website and other sources, LimeFx does not offer bonuses, but instead consistently provides competitive spreads with no hidden fees. Leveraged product trading magnifies a trader’s potential profit – but of course, also increases the potential loss.
As per review, LimeFx is a brand name of CTRL LimeFxs; the LimeFx account opening process is very simple and straightforward. For registering on this platform, the trader needs to visit the website LimeFx.com, and they need to click register. The LimeFx platform offers great competitive spreads starting from 0.03, which helps the traders to execute profitable trades. LimeFx offers a good trading environment for most types of traders, from beginners to more experienced ones.