That said, Lime Fx falls behind with its limited pricing, range of markets, and platform offering — none of which can compete with the best brokers in this space. Lime Fx has a minimum deposit requirement of $5, which is lower than FTLime Fx’s $10 requirement. Both brokers’ amounts apply globally, and where they differ is in the payment methods available. To deposit and withdraw funds from your FXTM trading account, use a credit card, e-wallet or bank transfer payment method. Although a wide range of funding methods are offered by Lime Fx, availability varies depending on your location. The majority of payment options are fee-free, yet if you transfer less than $200 by bank transfer, you will incur a $20 fee.
- First, you can do so through the live chat available on the website of the broker.
- As a trusted broker, Lime Fx is regulated by tier-one regulatory bodies and takes measures to guarantee the safety of your funds and information.
- As both Lime Fx and FXTM are overseen by multiple top-tier financial authorities, they are viewed by the forex trading community as well-respected and trusted online brokers.
- One of the biggest advantages of Lime Fx is that it has a highly skilled and professional team of customer support agents.
The FCA recently banned UK retail traders from accessing cryptocurrency markets. FXTM offers swap-free options for Standard, Cent, ECN and ECN Zero Accounts. When trading with FXTM, swap-free account holders are required to use MT4, with no access granted to MT5. Additionally, you are only able to trade major and minor currency pairs, with no exotic fx pairs available to swap-free accounts. With tight no commission spreads as well as competitive ECN-style spreads, Lime Fx traders gain access to better pricing and trading conditions than ForexTime. Additionally, Lime Fx promotes a no requote guarantee, meaning traders are certain their orders will never be rejected.
What is Important in Forex Trading?
FXTM offers educational materials suitable for all levels of experience, including e-books, webinars, tutorials and a glossary. As well as the wide range of resources available at , the broker hosts live seminars in countries where FXTM has offices. Both Lime Fx and FXTM offer Swap-Free Accounts for traders following Islamic finance practices. As Islamic traders can not pay or receive interest, swap-free accounts do not charge interest-based overnight financing fees (aka swap fees). These awards act as indicators for reliability and class, showing how determinedly a broker limefx reviews engages in offering high-standard services aimed at fulfilling customers’ interests fully. It proves Lime Fx’s continuity that has seen it bag many of these esteemed prizes.
Mobile Trading Apps
These tools will help you learn how to trade on Lime Fx trading platform even if you are a first-time user. We found different Lime Fx trading platforms to meet the needs of traders with different levels of experience. Furthermore, the broker provides access to desktop and webtrading via an MT4 MultiTerminal and an MT4 webtrader for PC and Mac, respectively. Commissions are fees charged by a broker for processing transactions and trades. Commissions can be a fixed amount or a percentage of the value of a trade, depending on the broker.
Safety and Regulatory Compliance
If you are a new trader, you can learn by watching videos on the platform in the Beginners Room, then practicing with a Lime Fx demo account. The educational videos are valuable as they contain useful information and insights. Lime Fx trading broker is regulated by several regulatory bodies, which ensure that it keeps users’ funds safe and secure at all times. These regulatory bodies include the Financial Services Commission, ASIC, and CySEC. These agencies ensure that Lime Fx consistently complies with best practices and remains transparent when dealing with clients. This makes it one of the most trusted brokers as far as investor protection is concerned.
We have a team of experienced professionals dedicated to providing accurate and up-to-date information. Our reviews are unbiased and comprehensive, and we always look for new brokers and products. Yes, Lime Fx is regulated by the Financial Services Commission, ASIC, and CySEC. Lime Fx is regulated by tier-one financial regulatory agencies, which ensure that it adheres to best practices when dealing with clients. As with most regulated platforms, Lime Fx broker requires your personal information and details while setting up an account.
The broker’s extensive range of over 1,250 CFD products, including forex, stocks, commodities, and indices, caters to a broad spectrum of traders. While many brokers start charging clients account inactivity fees after 6-12 months, Lime Fx traders who have limefx not traded for 90 days will be charged a monthly inactivity fee of $5. In addition to this, in order to create this account, you will be required to deposit at least $10,000. This is unlike any other account type offered by the broker, where the minimum deposit to open the account is just $5. To match the interests of different traders, Lime Fx has worked very hard to offer a diverse array of account types. Thus, the broker is able to offer traders services that work perfectly for their trading needs.
FXTM: Best For Beginner Traders
While MT5 users pay a flat rate commission fee of $4 round-turn, those using MT4 pay commission fees based on their equity levels and trading volume, as shown below. Lime Fx’s Zero Account is similar to an ECN account with minimum spreads of 0.0 pips, and as with all account types, Lime Fx guarantees no requotes on all orders. As traders gain access to ECN-style spreads, commission fees are $3.5 per side per $100,000 traded. Lime Fx forex broker also provides comprehensive educational content, low spreads and fees and has high quality account protection; however, there is no investor protection for clients outside the EU. With that said, let us review Lime Fx broker and all the key features of the platform.
The Lime Fx trading fees on CFDs are extremely low and there are no withdrawal fees. In addition to paying commissions, you may have to factor in the cost of spread while trading. Lime Fx offers a wide range of trading instruments, quality customer service and an in-dept educational platform. Lime Fx’s customer service is easy to access and provides support in multiple languages. Users get access to these services via phone, email, or live chat features. Lime Fx has a great mobile trading platform, which is offered on MT4 and MT5.
So when one falls, another one rises as the price denomination of any currency is always stated against another currency. Forex trading, also known by the name of currency trading or FX trading, refers to buying a particular currency while selling another in exchange. All Lime Fx clients are allocated a personal account manager who is available to assist you with any account or trading question you may have. Lime Fx personal account managers have a reputation for ensuring their clients get the best from their trading activities.
No dealing desk brokers fill orders using external liquidity providers and therefore do not set their own bid-ask prices. Instead, prices are sourced from multiple liquidity sources, allowing traders to access institutional trading conditions with ECN-like pricing. You can follow our link and check the Free Live Forex Webinars hosted by Lime Fx for yourself.
FXTM’s Standard Account offers commission-free spreads as low as 1.3 pips. When signed up to the broker’s standard account, customers are required to use the MT4 trading platform. The broker’s Cent Account is a great option for those wanting to trade smaller volumes due to lower account balances or inexperience. With minimum spreads of 1.5 pips, pricing is less competitive than ECN-style accounts, yet traders pay no additional commission fees on top of the spread.
This means that the broker will automatically close all of your positions in order to avoid your balance going into a negative. At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here). Lime Fx is ASIC regulated, ensuring a high level of trust and security for Australian traders. While both brokers cater to the Australian market, Lime Fx has a more established presence and offers a broader range of services tailored to the needs of Aussies. Moreover, Lime Fx, unlike FXTM, was founded overseas but has made significant inroads in the Australian market.
It’s worth noting that neither broker was founded in the UK, but both have established strong footholds in the region. For more insights on the best brokers for UK traders, here’s a comprehensive guide on the Best Forex Brokers In UK. Both brokers offer a great range of CFDs, each having a key strength and weakness in regards to market access. Lime Fx customers are provided with access to over 1,000+ Share CFDs, yet fail to offer any Crypto products. On the other hand, FXTM provides access to five major Cryptocurrency markets but fewer Shares and Forex pairs than Lime Fx.