Choosing the right broker is the most crucial step in forex trading as you cannot perform online trading without a broker and choosing a wrong broker may end up in a really bad experience in your trading career. Lime Fx offers many different account types, including ECN Standard, ECN XL, and ECN Advanced. Our Lime Fx review experts found that the ECN Standard account had the easiest entry point with an initial deposit of $100. The ECN XL and ECN Advanced accounts require deposits of $10,000 and $100,000 respectively.
At Lime Fx we offer our clients the ability and facility to trade by using VPS (virtual private server) services. There are three main critical advantages in using VPS to advance trading performance; speed, security and accessibility. While trading forex, traders are only required a small portion of the capital to open and maintain a trading position. The market order is based on the current price set by the market. If you give such a buy or sell order, you will be able to get to the trade as quickly as possible.
The selection of platform is very subjective and it depends on one’s trading requirements. Some of the well known Forex Trading platforms include MetaTrader 4 and MetaTrader 5. Apart from a monthly recurring fee, some platforms may have wider spread as well. In so-called “scalping,” the positions run particularly for a very short span of time. As a rule, they close the trade within a few minutes of their opening.
Lime Fx incorporates MetaTrader 4 and MetaTrader 5 for desktop, web, and mobile trading. The two platforms are the most popular among retail traders and have high functionality. Lime Fx also provides free Virtual Private Server (VPS) hosting for low-latency trading. A swap fee is a trader’s cost for holding an open position overnight because of changing interest rates. Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight.
Lime Fx works very well for intermediate and advanced forex day traders seeking high leverage and tight spreads from a ‘frill-free’ broker. Ordinarily, limefx broker reviews we prefer to see a choice between a commission-free account (geared towards beginners) and one with raw spreads and low commissions (geared towards advanced traders). However, Lime Fx has outdone many competitors by offering the kind of tight spreads you’d expect from ECN accounts without charging a commission. Additionally, traders have access to real-time market data and analysis to help them make informed decisions. The combination of educational tools and a well-regulated environment makes Lime Fx a reliable option for traders looking to expand their knowledge while maintaining secure trading conditions.
Guaranteed Stop Order Fee
Tight dealing spreads lower your overall trading costs and can significantly improve your trading results, especially if you are an active trader. Lime Fx has unusually competitive dealing spreads that you can gauge by opening a free demo account. The broker’s no dealing desk (NDD) execution model also prevents re-quotes and involves no dealer intervention in your trades. Lime Fx’s Price Aggregator automatically scans the market limefx reviews for the best bid/offer price combinations, thereby ensuring you get the most competitive and transparent executions for your trades.
- Lime Fx is a regulated broker offering diverse trading instruments, including CFDs, commodities, currencies, cryptocurrencies, and indices.
- This is a convenient range and I was especially happy with the inclusion of crypto payments as these are highly flexible and should work for traders based almost anywhere.
- Please note, some markets may only be available via CFDs or other derivatives.
- We do not provide financial advice or investment recommendations.
- Lime Fx is registered as a Cypriot Investment Firm (CIF) under the brand name, Forex Central Clearing Ltd., which holds at least €1 million in tangible assets.
- The European branch is licensed by the CySEC, a reputable regulator, and the brokerage has earned a good reputation with over 10 years in the business.
They are licensed by many respected regulatory bodies, employ ample data transfer and security measures, and possess a transparent track record of their financial transactions. Our experts however cannot recommend this broker over others from our trusted list. Review of their terms and conditions, however, shows that there are regional and other eligibility restrictions.
Spreads on gold and oil were aligned with the industry average, while the Bitcoin spread was elevated. Brokers operate multiple entities globally, but regulatory protections vary. Some regulators enforce stricter financial standards than others, so traders should understand the safety measures of the entity with which they choose to open an account. Lime Fx could offer more in terms of trading tools and reduce or eliminate its withdrawal fees, but these are minor complaints. I find Lime Fx’s in-house forex market hours tool a handy way to check holidays and other events that could impact trading hours.
- Once these steps are completed, traders can access their account and begin trading immediately.
- I also find the FAQs section on the website a useful way to solve basic queries.
- Lime Fx’s non-forex asset list is less competitive, with the lack of shares a notable exclusion and very few other markets.
- Lime Fx is a forex and CFD broker based in Cyprus that has been around since 2010.
As a trader who prioritizes flexible charts that are easily scalable, I find MT5’s charting capabilities too rigid and less effective. As shown above, MetaTrader’s charts can quickly become cluttered, even with just two indicators. This can obscure price action examination and make it harder to perform detailed technical analysis.
Lime Fx Trading Fees
The limit order enables the trader to set a price limit up to which currency pairs are bought or sold. This allows planning to trade certain price levels and avoid overpriced buying prices or selling prices that are too cheap. Most traders speculating on forex prices will not plan to take delivery of the currency itself; instead they make exchange rate predictions to take advantage of price movements in the market. In addition to access to daily market analysis and market education resources, you can get a 100% first deposit bonus of up to $2,000 when you open an Lime Fx XL account.
For instance, anyone registering from a CySEC regulated region is not able to accept a bonus. Lime Fx is authorized and regulated by the Cyprus Securities and Exchange Commission (CySec) and operates under the EU Markets in Financial Instruments Directive (MiFID). Lime Fx is on the FCA Register (Reference Number ) and EEA Authorized. A great amount of through was applied into the forex education center in order to ensure it has a point of difference and enhance our clients knowledge.
Lime Fx ECN XL account holders pay no commissions to trade any supported asset. Dealing spreads for forex pairs and CFDs can vary from 0.0 pips upwards depending on the liquidity and trading volume of the asset involved. Forex.com offers upgraded trading platforms, high-quality trading tools, and acceptable trading costs. Forex.com segregates client deposits from corporate funds, offers negative balance protection, and has an investor compensation fund for UK clients, making it a safe broker. Compared to the industry average, Lime Fx provides a low number of cryptocurrencies and indices, an average number of commodities, and a high number of currency pairs.
Lime Fx’s desktop trading platform is MT4 and MT5, available for Windows and Mac. This platform provides full trading functionality, charting tools, and technical analysis capabilities essential for both beginner and advanced traders. Lime Fx offers mobile trading apps compatible with both iOS and Android devices. These apps allow traders to manage their accounts and execute trades on the go with full access to MT4 and MT5`s features.
What do you need to know when trading Forex
The broker uses a price aggregator to ensure that counterparty orders use the best bid and ask prices currently available. Lime Fx’s offshore entity offers a 100% welcome bonus up to $2000 whereby new clients can double their initial deposit size. However, due to European regulations, this bonus is not available for clients from the EEA. Although Lime Fx does not offer an extensive suite of forex tools, I am satisfied with the inclusion of a free Virtual Private Server (VPS).
Lime Fx operates on a hybrid STP/ECN model, whereby client orders are either routed to the broker’s pool of liquidity providers or matched electronically using electronic communications networks. Live testing revealed that Lime Fx’s swaps are average to high compared to the industry benchmark. This makes Lime Fx less ideal for carrying positions open overnight. Broken down by asset class and compared to the industry average, Lime Fx offers extremely low forex and indices spreads.
