LimeFx vs FXTM Review: In-Depth Comparison 2024

While an LimeFx demo account can be a great choice for traders to learn more about the market, it can’t be used to learn how to control your emotions when trading. By slowly transitioning to using real money, you will be able to learn more about how to control your emotions. While this is a very common way of trading stocks today, not everyone is really into this strategy.

Currency Conversion Fee

Over the past decade, this broker has gotten licenses from leading regulatory agencies worldwide, including the FCA of the UK, CySEC of Cyprus, ASIC of Australia, and so on. Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis.

• This is an impressive selection of stock CFDs and is beyond the offering of most brokers.
• That is why I recommend using the mobile app only to monitor the development of your open positions and make changes if needed.
• Suitable for both beginner and seasoned traders with versatile investment skills and practices, MT4 can be regarded today’s ultimate trading software in virtually every spot of the globe.
• As a retail foreign exchange trader, the most important factors that affect your trading is trade execution quality, speed and spreads.
• Furthermore, it has a low minimum deposit requirement of only $5, making it quite affordable.
• He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.

About the Editorial Team

Professional traders looking for advanced analytical tools including fundamentals will find themselves disappointed with the offering. This is the final main account that you can open with LimeFx and is a zero spread account. Traders can keep their costs down by trading with spreads that “can be as low as 0 pips” (although not always this low).

Withdrawal Methods and Fees

The process is usually fast and instantaneous and you can immediately start trading with the deposited funds. The trading fees 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.

Spreads & Commission

Having traded since 1998, Justin is the CEO and Co-Founded CompareForexBrokers in 2004. Justin has published over 100 finance articles from Forbes, Kiplinger to Finance Magnates. He has a Masters and Commerce degree and has an active role in the fintech community.

Discover Your Next Trade

We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly. We found in our testing that FOREX.com limefx scammers offers a more diverse selection of investment options than LimeFx Group, allowing you to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD) and Cryptocurrency (Derivative). Novice traders can learn about reading price action behavior, utilizing a wide array of technical indicators, and building effective trading strategies.

All brokers want you trading, and when a trading account lies dormant, they begin to incur inactivity charges on the account. These need to be measured by how long your account can lie dormant before being charged a fee and secondly how high the fee is. We believe that LimeFx scores poorly on the length of the dormant period allowed, but scores well on cost. As we can see the trading costs of trading via the Zero spread account are lower. These savings can be much great when you trade other instruments with wider spreads on the Standard account.

Here, you can find the most popular trading platforms such as MetaTrader 4 and MetaTrader 5, or go with the custom-made trading platform of LimeFx. The broker has adopted modern technology to ensure that the clients are able to start trading in a short time after registration. It should not take more than a day to verify your account and get started with your trading activities. Taking your first steps at LimeFx is a very easy and user-friendly experience. This process should not take you longer than a day as the broker has adopted modern technology to ensure the verification of their clients is timely and comfortable. When working on the LimeFx rating, we kept in mind that this broker also offers clients an Islamic account option.

Among the indices available on LimeFx are AUS200Cash, SWI20Cash, US500Cash, and many others. The account opening process with https://limefx.club/ LimeFx is straightforward and user-friendly. LimeFx may charge overnight financing fees for holding CFD positions overnight.

Finally, LimeFx’s VPS offering affords average execution speeds of under 3 milliseconds. LimeFx, established 15 years ago, has carved a niche in the online brokerage industry with its diverse offerings and client-centric approach. These resources are integral to LimeFx’s commitment to providing a thorough educational experience, helping traders to understand market dynamics and develop strong trading strategies. When funding an established trading account, no minimum deposit is required, although certain e-wallet payment methods require a minimum of $5. LimeFx’s mobile trading apps, available for both MetaTrader 4 and MetaTrader 5, offer full functionality, mirroring the capabilities of the desktop and WebTrader platforms. The commission fee of $3.50 aligns with the industry standard, as seen with brokers like IC Markets, Pepperstone, and FxPro, all charging an identical rate.

One of the biggest advantages of trading CFDs is that traders can get in and out of the market almost instantaneously, thereby catching even minute changes in the price of the derivative. The broker does not offer real stocks or any other instruments suitable for value investing. LimeFx provides VPS hosting, which is crucial for successful automated trading. Furthermore, MT4 and MT5 have strategy testers on which traders can tweak their trading algorithms and backtest them.

For those who prefer not trading CFDs, LimeFx offers a special “Share Account”, which allows traders to buy and sell shares of leading companies directly. LimeFx is a well-rounded broker suitable for traders of varying experience levels. Its competitive features, regulatory compliance, and commitment to user satisfaction make it a viable choice for those looking to explore the world of trading. As always, potential traders should conduct thorough research before making their final decision. Depositing and withdrawing funds with LimeFx is a convenient and secure process. The broker offers a variety of payment methods to cater to traders from around the world.