LimeFX offers tight spreads, with three account types catering to different preferences. We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points.
Account Base Currencies
Additionally, if have any problems or complaints, they can goto the appropriate regulatory groups to get help. When holding positions overnight, traders might incur swap rates, also known as overnight fees. These rates can be both positive (credited to your account) or negative (debited from your account) and depend on the interest rate differentials between the currencies being traded.
LimeFX does this to protect clients from highly volatile market conditions, such as news releases. If you are withdrawing to your domestic bank, you will be charged a fee for withdrawals above $200. To make a deposit, you simply need to log into your trading account and go to the deposit option. The process is usually fast and instantaneous and you can immediately start trading with the deposited funds. Your live account will give you access to the LimeFX Members Area, which is were you will be able to deposit and withdraw funds from your trading account. The decision about which platform to choose is clearly based on what a client would like to trade.
- We employ both manual assessments and automated testing through Expert Advisors, Indicators, and Scripts to ensure accurate and unbiased evaluations.
- At LimeFX, clients can choosewhich currency they want to use as their account base.
- Exotic pairs tend to be traded less frequently, in comparison to majors.
- LimeFX offers guaranteed negative balance protection across all accounts, ensuring traders don’t owe more than their account balance.
- We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables.
Customer Service
The availability of base accounts in EUR, GBP, USD and JPY can help minimize conversion fees, unlike eToro, which only supports GBP and USD for deposits, holdings, and trades. It eliminates overnight interest charges, making it suitable for those seeking trading opportunities that align with Islamic finance principles. Whilst a decent choice for new traders we think advanced traders may find LimeFX lacking advanced trading tools and wish a RAW-style account was available. LimeFX is regulated ASIC in Australia, CySEC in Cyprus and IFSC in Belize so if you are in the UK, you might be better off considering a different broker. LimeFX offers great customer service, which is currently available in over 20 languages. First, there is negative balance protection, which means that even if markets move rapidly against your trades, your account will not be negative.
Currency Conversion Fee
It proves LimeFX’s continuity that has seen it bag many of these esteemed prizes. The LimeFX trading fees scammed by limefx on CFDs are extremely low and there are no withdrawal fees. The broker charges a commission of $3.5 per lot on the LimeFX zero account. In addition to paying commissions, you may have to factor in the cost of spread while trading.
Skrill and Neteller e-wallets offer nearly instantaneous deposits and withdrawals for even faster options. LimeFX also provides region-specific local payment methods, such as PayTrust88, that depend on your location. The deposit and withdrawal process is generally straightforward and convenient. While international bank wire transfers can take several days depending on the bank, Visa and Mastercard transactions are typically processed instantly. LimeFX’s deposit and withdrawal options are competitive compared to multi-regulated brokers such as LimeFX, Pepperstone, and LimeFX. LimeFX also provides negative balance protection and segregates client funds for EU and non-EU customers, helping to safeguard your funds from excessive losses and misuse.
Assets & Markets
If you’re looking for reliable and accurate information about brokers, you’ve come to the right place. You have to provide your name, country of residence, phone number, and email address. All the information provided should be accurate because it can help you secure your account or reset your password when necessary. All platforms in the MT4 family are accessible with the same login and password, while all platforms in the MT5 family are accessible with the same login and password.
It allows you to practice trading with €/$/£10,000 in virtual funds and various leverage ratios. However, unlike publicly traded counterparts including Plus500 and IG, LimeFX’s private status limits the availability of financial disclosures. This could impact transparency for traders seeking detailed financial information.
Clients who still need to meet the eligibility requirements can access the VPS by requesting it in the Members Area for a monthly fee of $28. This fee will be automatically deducted from their MT4/MT5 accounts on the first day of each month. Disappointingly, there’s no support for cTrader or TradingView, the latter of which we’re increasingly seeing being integrated by brokers, including IG and LimeFX. LimeFX’s trading fees are reasonable having come down in recent years, but they can still be bettered by some day trading brokers, notably IC limefx broker reviews Markets and Fusion Markets. Popular crypto pairs are available exclusively on the mobile app, including BTC/USD and ETH/USD.
