Moreover, the broker is highly regulated under two top-tier financial watchdogs, including CySEC and FSA, making the broker platform a reliable place to trade. Overall, LimeFX (LimeFX) can be summarised as a trustworthy and highly regulated Forex Broker with widespread acclaim among traders due to its market-leading conditions. The Broker offers access to an easy-to-use trading platform with excellent customer support and has a trust score of 90 out of 99. LimeFX provides a solid range of educational materials, including articles, videos, webinars, and a video course. Content is updated frequently and is accessible to all levels of traders. A broad range of topics from technical analysis to trading strategies and platform tutorials are covered.
What is the minimum deposit required to open an LimeFX account?
However, it’s important to note that LimeFX does not currently offer trading in stocks, ETFs, futures, bonds, or options. In terms of commodities, LimeFX presents opportunities to trade in energy products, precious metals, and others. For those interested in trading indices, LimeFX provides access to some of the world’s major indices. LimeFX, in this regard, stands firm as it complies with all necessary regulations and takes substantive measures to ensure client funds’ safety. Though it has been granted regulatory status in Cyprus and South Africa via an intermediary (Orinoco Capital), LimeFX’s lack of additional reputable licenses heavily weighs down its Trust Score. Becoming regulated in more jurisdictions – especially in Tier-1 jurisdictions – will go a long way towards building trust with existing and prospective customers.
LimeFX offers a variety of trading instruments, including CFDs on all the major asset classes— forex, commodities, indices, shares, and cryptocurrencies. LimeFX has a strong selection of CFDs on cryptocurrencies, numbering 30 in total. The range of available CFDs on indices is also better than average. By pressing ‘set up copying’, the orders of the Master Trader will be copied automatically. Traders have complete control over the process and can stop copying anytime.
LimeFX Islamic Account
In the hands-on testing process, I used MetaTrader 5 for desktops, limefx reviews which includes advanced functions such as copy trading and automated trading. This section will cover how the different entities of LimeFX are regulated and how this impacts you as a trader. We rate regulators on a scale of 1 to 3, with 1 reflecting the highest level of trust. LimeFX does a commendable job of offering educational and research materials to its users, though room for improvement and expansion still exists compared to some industry leaders. Moreover, LimeFX offers opportunities for cryptocurrency trading, featuring popular cryptos like Bitcoin, Litecoin, and Ethereum.
Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry. The account opening process at LimeFX is fully digital and can be completed within minutes via the company website. The broker offers three main account types; LimeFX MT4, LimeFX MT5, and LimeFXTrader. The score for this category was weighed down because only one base currency is available (USD) and there is no option for a raw spreads account.
- Trading with a reliable broker is important for traders to be shielded from potential risks and challenges.
- For example, LimeFX clients in the European Union benefit from the oversight of the Cyprus Securities and Exchange Commission (CySEC).
- This gives traders clear cues to watch for when planning their trades.
- Impressed with LimeFX’s reliable platform and comprehensive market insights.
- The MetaTrader 5 Web Platform (Web Trader) is a slightly stripped-down version of the desktop platform.
How to close an LimeFX account?
Reviews are updated regularly to ensure that every trader has the most up-to-date information before making a choice. You can close your LimeFX account by emailing the customer support group at requesting to delete or close your account. Some market analysis tools are economic indicators, market information, forex news, interest rates and holiday calendars. These tools effectively judge the market environment and make decisions that are most appropriate per the environment. LimeFX offers benefits like negative balance protection and no commission and interest charges in the Islamic account.
Available leverage differs according to the asset class, with the most leverage available with CFDs on forex and the least with CFDs on shares. Copy and automated limefx broker reviews trading are only available on the MT5 desktop platform. LimeFX does not currently charge swap fees – the charge for holding leveraged positions overnight. Incorporated into the spread, offering cost-effective trading for CFDs. Forex trading is a major focus, with over 52 currency pairs available, encompassing major, minor, and some exotic pairs. Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com.