Each platform runs on Windows, iOS, and Android, so no matter which device you trade from, you’re free to use the platform you like the best. Available leverage differs according to the asset class, with the most leverage available with CFDs on forex and the least with CFDs on shares. The MetaTrader 5 Web Platform (Web Trader) is a slightly stripped-down version of the desktop platform. It allows you to trade without any additional software, only an internet connection is required. The Web Platform allows users to trade directly from any browser and operating system.
Traders pay no financing fees, irrelevant of how long a trade remains open. One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check them limefx company reviews before evaluating the total trading costs. Demo accounts are especially important for beginners as they allow them to practice their strategies and get comfortable with the trading platform without risking real money. The MetaTrader 5 mobile app also provides many order types, including pending and stop orders.
Non-Trading Fees
We always recommend you trade with an appropriately regulated broker, with this in mind LimeFX is an option if you are based in the European Union where CySEC regulates them. If you are outside this region, we can’t fully recommend LimeFX as you will be trading with their subsidiary based in Saint Lucia where they only need to register as a company. Regarding education, there are platform tutorial videos and a basic forex trading course, which would probably be okay for absolute newbie traders. When determining if we could add funds to our account via a simple bank transfer, the customer support person in the live chat couldn’t verify that a bank transfer was an option. But, it must be said that depositing funds and holding your capital with LimeFX is definitely a higher risk than trading with other, more regulated brokers.
- LimeFXTrader includes a feature called Space, which is a built-in smart feed of customised trading ideas and market analysis.
- It’s important to note that minimum deposits and trading costs will also depend on which LimeFX entity you choose for establishing your trading account.
- The broker only offers a spread-only account with spreads from 0.6 pips, if you are hoping for RAW spreads then you will need to look at other brokers.
Account Application
A broad range of topics from technical analysis to trading strategies and platform tutorials are covered. With a perfect score in this category, LimeFX has gone above and beyond to educate its clients. Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process). We test scammed by limefx all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables.
MetaTrader 5 Mobile App
You can utilise all of the features available for trading, including expert advisors for automation. Additionally, you can trade with all the trading products available on the platform. There are 35 currency pairs to trade for most traders across the globe, but only 28 pairs are available if you live in the European Union. While 35 pairs mean LimeFX offers all the popular pairs to trade with, less popular pairs can be more volatile which means more opportunity to profit from this volatility.
The cost savings from the overall pricing environment alone make LimeFX a broker to consider. Beginner traders will benefit from well-thought-out research and educational services. The generous bonuses and promotions complement the excellent core trading services, explaining why LimeFX has attracted deposits from more than 42 million traders. MT4/MT5 trading platforms exist as a desktop client, supporting all features, a lightweight web-based trading portal for manual traders, and a mobile app. LimeFX offers traders the out-of-the-box MT4/MT5 trading platforms and upgrades the trading experience with the Autochartist Pro plugin. MT4 remains the market leader for algorithmic trading and is the most versatile trading platform with 25,000 custom indicators, plugins, and EAs.
LimeFX Opening an Account
We found LimeFX spreads to be largely average for major FX pairs, and disappointing for cross-pairs. With this in mind, we think it is safe to say LimeFX does not live up to its claim of having the lowest spreads in the market. LimeFX offers 24/7 customer support, primarily via live chat, with fast response times.
The global entity is unregulated, and this means clients benefit from fewer account protections. However, LimeFX states that it provides clients with segregated accounts and negative balance protection. A welcome addition would be third-party account insurance (such as a policy from Lloyds of London), as seen at some other popular offshore brokers. Overall, I rate LimeFX as an innovative broker with a client-centric focus.