Now, even with ECN and all its glory, there’s this thing called slippage. It’s basically the difference between the price you expect to get and the price your order actually gets filled at. Think of it as the gremlins of the market occasionally messing with your plans. While LimeFX strives to minimize slippage, it’s a reality, especially with high volatility or less liquid instruments.
LimeFX offers Standard Accounts, perfect for beginners or those who hate commissions. Well, during my testing, the spreads on major forex pairs like EUR/USD were around 1.0 pip. You’ll need to provide basic personal information, upload some ID documents for verification (KYC compliance), and choose your preferred account type and trading platform.
Providing a Secure Trading Environment
Multi-channel support is a highlight, offering live chat, email, and phone support, enhancing accessibility and allowing traders to choose their preferred communication method. Additionally, FP limefx broker reviews Markets maintains a comprehensive FAQ section and provides educational resources on its website, empowering traders with the tools to address common queries independently. LimeFX caters to desktop users by offering trading software compatible with both Windows and Mac operating systems. Windows users can download the desktop platform, while Mac users can access it through web-based solutions.
Reviews4.8
One thing LimeFX emphasizes is ECN (Electronic Communication Network) pricing for many instruments. And let me tell you, during my testing on ECN-priced accounts, the spreads on major forex pairs were crazy tight – exactly what any cost-conscious trader craves. The Aussie broker delivers low spreads, fast order execution, advanced platforms, and minimal fees – without skimping on customer support and research materials. I judged LimeFX as an above-average broker, providing a well-rounded service, as it excelled in almost every category of our review. Rock-bottom fees, fast execution, and a diverse range of instruments allow LimeFX to meet the needs of experienced traders. These strengths are complemented by advanced features like automated trading and Direct Market Access along with award-winning research materials from Trading Central and Autochartist.
Trading Tools & Tech
The good news is LimeFX’ platform makes navigating this instrument ocean a breeze. Plus, they’ve got a decent selection of technical indicators and charting tools built right in, so you can do your due diligence before entering a trade. Some withdrawal methods used by your bank might have fees attached. So, before you get all excited about pulling out your profits, double-check with your bank and LimeFX to avoid any unwelcome surprises.
LimeFX offers Standard Accounts with commission-free trading and educational resources. However, the variety of instruments and potential for high leverage might be overwhelming for complete beginners. If you prioritize security, extensive market access, and a platform choice, LimeFX is definitely worth considering. However, if you heavily rely on social sentiment analysis or require a proprietary platform, you might need to explore other options. While LimeFX’ regulatory framework suggests a commitment to financial stability, complete risk elimination is impossible. To further mitigate risk, I advise traders to opt for the ASIC-regulated entity.
Overall, the research & education at LimeFX are of high quality and add value to the core trading environment. LimeFX delivers a good variety of mobile apps for forex and CFD traders. Its proprietary app has a nice layout for a new mobile app but lacks the advanced features that I’ve come to expect from the best brokers in this industry. Thankfully, MetaTrader and cTrader platform suites are available as reliable alternatives. LimeFX provides a diverse range of trading platforms and tools, suitable for various trader preferences. While the overall platform and tools are rated as average, the choices available, including both MetaTrader options, cTrader, and a proprietary platform, align well with traders’ needs.
- Per AML guidelines, the name on the trading account and payment processor must be identical.
- The MetaTrader Web Platform (Web Trader) is a slightly stripped-down version of the desktop platform.
- It provides essential trading features and tools, ensuring a smooth trading experience.
- The latest development of the in-house social trading service at LimeFX introduced it to the resurgence in demand from retail traders for this sub-sector of trading.
- It offers competitive spreads on its commission-based account, Raw ECN, averaging 0.1 pips for the EUR/USD, well below the industry average of 1.08.
Our extensive testing and review of LimeFX reveal it as a top choice for forex and CFD traders seeking a robust trading environment with competitive fees. Our experience and the data limefx reviews show that LimeFX stands out in the industry, especially for those looking to trade a wide variety of instruments. LimeFX offers demo accounts for MetaTrader 4 and MetaTrader 5.
Traders have the flexibility of using all major order types via the MT4 app, including market orders, limit orders, and stop-loss orders. Open positions can be modified by changing stop loss and take profit order levels. I tested the spreads at LimeFX across various markets using the MetaTrader Platform during the London open and after the open of the New York forex session. At these times, the market is typically highly liquid with the tightest spreads. In our tests for the Trust category, we also cover factors relating to stability and financial strength.