LimeFX Review 2024: Read Before You Trade

Justin has published over 100 finance articles from Forbes, Kiplinger to limefx scam Finance Magnates. He has a Masters and Commerce degree and has an active role in the fintech community. For this reason, LimeFX is one of the better choices if you require a Sharia-compliant Swap Free Islamic Accounts.

For both account types offered by LimeFX, spreads are floating and start from a minimum of 0.8 pips and have an average of 0.9 pips for the EUR/USD currency pair. This means the trading spreads will get either tighter or wider, depending on market volatility, time of day, and other factors. We found the most interesting feature of Forex Broker LimeFX to be that they have no swaps. The platform offers MT4 and MT5 trading platforms, along with commission-free spreads starting from 0.8 pips. 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.

Tradable Instruments

Each year, we collect thousands of data points and publish tens of thousands of words of research. Yes, LimeFX pays real money to traders who earn from their trading activities. It also includes $31M in bonus funds LimeFX paid over the past eleven years. The minimum deposit at LimeFX is $25, higher than many brokers but within a reasonable range.

1. LimeFX does not charge account opening or administrative fees, but traders must pay spreads on assets, which is the standard business model at commission-free brokers.
2. The Market Information section at LimeFX provides traders with twelve categories of well-presented content.
3. There are no swap fees, inactivity fees, or fees for deposits and withdrawals.
4. LimeFX offers traders the out-of-the-box MT4/MT5 trading platforms and upgrades the trading experience with the Autochartist Pro plugin.
5. MT5 provides a greater number of technical indicators, timeframes, and graphical objects.
6. Traders have complete control over the process and can stop copying anytime.

However, when compared to research leaders IG, Saxo, and CMC Markets, LimeFX has room to enhance its research offering. For example, the “minimum expertise” field lets you choose between newer systems, all the way up to those with legend status. It would be useful to be able to sort the columns from highest to lowest, but that feature is not yet available when looking at the Master Rating results page. They may also use their Google, Facebook, or Apple accounts to sign-up. Account verification is mandatory, and most traders will complete it after sending a copy of their ID and one proof of residency document.

What Leverage Does LimeFX Offer?

LimeFX is extremely limited regarding payment method options for funding a trading account. If you’re a more advanced trader, and you want more sophisticated tools, you may consider Pepperstone, Vantage, or LimeFX with a broader range of platforms. The MT4 platform has ultra-intuitive charting options and all the most common technical indicators. It’s very simple to enter buy and sell orders, as well as set stop-losses, you can even use Expert Advisors (EAs) for automated trading.

The MetaTrader 5 mobile app also provides many order types, including pending and stop orders. However, trailing stop-loss orders are only available from the desktop. To change the language of the MT5 app, you must change the language for your entire phone. As with the desktop and web platforms, the interface is not highly intuitive, but the MT5 app offers an above-average range of features.

What Demo Account Does LimeFX Offer?

Material includes live trading sessions, workshops, and trading strategy-themed presentations. The AutoChartist plugin for MetaTrader is available to clients with $1,000 or more in their accounts. In my tests, I received speedy responses—the same day for email and a wait of just a few seconds for live chat. Despite the lack of phone support, I rate LimeFX as average in this category. MT5 provides a greater number of technical indicators, timeframes, and graphical objects. We performed our tests with a live account, using the MetaTrader 5 and LimeFXTrader platforms, opened with the LimeFX Saint Lucia entity (LimeFX Markets Inc.).

Where is LimeFX based?

Multiple times, we asked questions regarding things such as deposit options and broker regulations, and we limefx reviews were met with a long pause, followed by less than sufficient answers. But, even for simple questions, we didn’t find the customer service options impressive. LimeFX also offers the chance to trade energy products like Texas Crude, Brent Crude, and Natural Gas. If you’d like to trade stock market indices, pick from one of ten major global indices.

For both trading accounts (LimeFX MT4 and LimeFX MT5), all fees are reflected in the spread – there are no additional commissions charged. In South Africa, LimeFX provides financial services to clients through an intermediary, Orinoco Capital, which is licensed by the Financial Sector Conduct Authority (FSCA). A proprietary trading platform, LimeFXTrader, is also available for desktop, laptop, or mobile device as an app, allowing traders to manage their LimeFX portfolios. LimeFXTrader uses TradingView’s charting technology allows for comfort and customisation. The success of the proprietary LimeFX copy trading service resulted in the launch of a dedicated mobile app.