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LimeFxFX Review: Is LimeFxFX A Good Broker For You?

The broker needs to establish where you live, your trading experience, your educational qualifications and what you want to achieve from investing in the financial markets. LimeFxFX rewards active traders with a 50 percent deposit bonus and a 4-tier status program. It also runs a Trade & Win program, in which each lot counts as a prize lot that can be redeemed for cash. Not only that, but LimeFxFX also offers a referral program, as well as demo contests with actual money prizes.

  • The swap-free trading system at LimeFxFX is one of the best special features they offer.
  • 👉 The LimeFxFX Demo Account delivers the same Forex trading experience as a real account.
  • 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.
  • Your account’s functionality will be limited until you complete this process.
  • Similarly, long-term bond yields have surged to the highest level in years.

👉 The proprietary LimeFxFX Trading App allows traders to deposit and withdraw money quickly and safely. In addition, the app offers account management, deposit management, and account control. The proprietary app is currently only offered for Android tablets and smartphones. To open a brokerage account and begin trading, traders must provide identity and evidence of residency.

The indices track the underlying prices of the currency pairs within that index. If the individual forex prices in that index increase, then the value of the index will go up. Conversely, if the individual FX prices decrease, then the value of that index will fall.

This is adjusted to the international accounting standards and regulations. The broker’s multiple deposits/withdrawal methods come at zero cost, the choice of two base currencies for fund transfers and immediate processing of withdrawal requests. Clients outside the European limefx scammers Union also receive bonuses and promotional offers from time to time. At this time, the United States is not permitted to join the platform. While LimeFxFX accepts users from over 180 countries, it doesn’t yet have governmental approval to provide services to US residents.

USD/JPY maintains position below 150.00 ahead of US housing data

The Market Information section at LimeFxFX provides traders with twelve categories of well-presented content. It includes technical trading signals, Forex news, and market insights. The LimeFxFX blog complements the research category, and traders have a wealth of quality, market-oriented information. Together with services provided by Autochartist, LimeFxFX maintains a highly competitive research section. I like the cost savings at LimeFxFX for traders who keep leveraged positions open for multiple trading days. The cost savings for a 1 standard lot EUR/USD position can amount to $60+.

After traders confirm their email addresses, the remainder of the application can be completed to assess the trader’s trading experience. 👉 This means that the trader could incur an overnight or rollover fee. This is a type of interest that is prohibited by Riba principles of Sharia law, which means that Muslim traders are often restricted in forex trading.

  • Quick depositing and withdrawing are two of the most prominent subjects of boasting here.
  • Finally, LimeFxFX offers free educational resources such as articles and video tutorials.
  • Right from the start of the process, LimeFx FX is keen to support traders by offering access to the 24/7 customer support team who are on hand around the clock to help with any queries.
  • Yes, LimeFxFX accepts clients residing in Nigeria for leveraged trading forex and other CFD instruments.
  • A risk management tool is also available, called the drawdown percentage (DDP).

Mostly, they have something to do with the security, or so the owners claim. CTrader has a few prominent features, like partly automated trading and different mechanisms that ensure transparency. Released in 2011, LimeFxFX had several licenses, including SVG registration, and opened the UK branch, but suspended this presence in 2017 and lost the FCA license.

Forex Risk Disclaimer

Overall, LimeFxFX is among the most cost-effective broker to trade CFDs in Nigeria. No swaps fees are applicable on the MT5 account and MT4 swaps are lower than many CFD brokers in Nigeria. We have reviewed each component of broker fees that are commonly charged by CFD brokers in Nigeria. There are two account types at LimeFxFX but both have the same pricing structure. Payment can be made using most major credit/debit cards, Skrill, Neteller, and Bitcoin.

LimeFxFX Platforms and Tools

Hedging with forex is a strategy used to protect one’s position in a currency pair from an adverse move. It is typically a form of short-term protection when a trader is concerned about news or an event triggering volatility in currency markets. There are two related strategies when talking about hedging forex pairs in this way.

Platforms and Tools

Both trading platforms allow CFDs and cryptocurrencies trading along with following the easy accessibility user friendliness methods to allow all trades everywhere at any time access. You can access both platforms from the web, IOS, android, and windows. Metatrader 4 is the most famous platform within the forex market as it has easy features. Being quick and flexible to deal with while trading allowed the investors to trade with ease. Its features were designed to facilitate the investing procedure for trades which include algorithmic trading, technical indicators, and expert advisors. Yes, LimeFxFX accepts clients residing in Nigeria for leveraged trading forex and other CFD instruments.

Exploring a Versatile Trading Platform – 4.5 / 5.0

The FAQ section is especially useful for people who are comfortable figuring things out on their own. The broker holds regulatory licenses in Europe through its LimeFx Markets Cyprus Ltd,  Cyprus-based entity, regulated by the Cyprus Securities and Exchange Commission (CySEC). However, since LimeFxFX is only regulated in https://limefx.club/ Cyprus, investing your money with this broker can contain a higher risk than brokers that are regulated in multiple tier-1 jurisdictions. The swap-free trading system at LimeFxFX is one of the best special features they offer. One interesting fact is that trading incentives have paid out more than $6 million to date.

81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. The LimeFxFX customer support staff is available around the clock to assist users with any issues or problems they may have. All LimeFxFX’s premium features, including leverage and copy trading assistance, are available at a very affordable price as part of LimeFxFX’s comprehensive trading solutions. The simple account registration on the LimeFxFX website is all traders need to get started with the broker.

Ultimately, all platforms feature an effective and concise ordering system which accounts for various types of order and position and is very quick to execute. MT4 is the dependable and highly efficient platform in terms of functionality and ability to customize charts with more professional tools and indicators than any other on the market. This robust, if visually rudimentary format has suited many traders throughout the years who value the attention to detail and concise ordering process they can avail of. Aside from these exceptions, opening an LimeFxFX demo account is very easy. Simply register your basic personal information through the broker’s website, and you are ready to begin virtual trading. This minimum deposit could be considered as slightly higher than some competitors, particularly in terms of the Micro Account which LimeFxFX offers.

The processing times of deposits and withdrawals are fast, but it may take additional time to arrive in the trader’s account or e-wallet. Card transactions are instant, and crypto deposits take 3 – 30 minutes to clear. Checking the T&Cs of your chosen provider can help you establish the best way to fund your account. Some may also apply charges, which are out of LimeFx FX’s control, but the broker doesn’t apply any fees during the deposit process.

There is a dedicated telephone helpline referenced during the account opening process. Still, most queries are dealt with by the Live Chat, which refreshingly doesn’t involve talking with a ‘bot’ before being put through to a human agent. This process is in line with standard market practice and a sign that the broker is well-regulated – they have to build a user profile to comply with KYC (Know Your Client) protocols. These comprise video tutorials, forex education, glossary and frequently asked questions. However, withdrawals take 1-3 hours to process and 30 minutes to send, both of which are free of charge. Your account’s functionality will be limited until you complete this process.

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