According to the broker’s website, clients have negative balance protection, and client funds are segregated from the company’s operating funds. LimeFx has competitive spreads in some instruments such as EUR/USD and impressive research written by in-house analysts. Moreover, LimeFx is a crypto-friendly broker – traders can choose from 34 CFDs on cryptocurrencies and make deposits and withdrawals in crypto. Anyone with an interest in the financial market, a fast internet connection, a computer, and some money can become a trader.
Customer Support
Trade anytime and anywhere, and have access to trading information 24 hours a day, even while you’re traveling or on vacation. It is super easy to download and install the terminal on any compatible device. For this reason, LimeFxFX is one of the better choices if you require a Sharia-compliant Swap Free Islamic Accounts. Their live chat team is mostly based in St Lucia or Cyprus and is 24/7.
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If you’d like to trade stock market indices, pick from one of ten major global indices. These include the SP500, Nasdaq, French CAC40, and Australian SPI 200. Saint Lucia allows companies to self-regulate as long as they comply with the country’s laws. This means clients with LimeFxMarkets don’t have any form of regulatory protection so you can only trust LimeFxFX operations meet the standards you would hope. As this subsidiary is not regulated, LimeFxMarkets can be called an offshore broker.
How the global currency market works
For both trading accounts (LimeFxFX MT4 and LimeFxFX MT5), all fees are reflected in the spread – there are no additional commissions charged. This is because traders exchange scammed by limefx one currency to get another currency. There are hundreds of currencies in the world but in electronic trading, it is not logical to trade all of these pairs.
MetaTrader 4 Android
You can use the calculator to manually choose the Stop Loss level for your order. The bonus is also available to traders in South Africa, we did not find any end date for this promotion. LimeFx accepts all the most popular payment https://limefx.group/ methods including VISA, Bitcoin, Neteller, and MasterCard. LimeFx does not charge its clients any Deposit or Withdrawal fees. Furthermore, deposit and withdrawal fees applied by third parties will also be covered by LimeFx.
LimeFx Deposit & Withdrawals
- While 35 pairs mean LimeFxFX offers all the popular pairs to trade with, less popular pairs can be more volatile which means more opportunity to profit from this volatility.
- If branding consistency is important to you, feel free to use it.
- Our in-house spread scanning software gave us an idea of how LimeFxFX spreads compare to other brokers.
- LimeFx offers a swap-free Islamic account that adheres to the principles of Sharia law.
With MT5, MetaQuotes Software has increased the number of technical analysis tools available, along with more charting and timeframe options. We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points. Advanced traders will appreciate the narrow spreads, zero commissions, and accessibility for all trading strategies.
MT4 provides comprehensive technical analysis tools, a user-friendly interface, and automated trading capabilities via Expert Advisors (EAs). LimeFx has also gone above and beyond with its education materials which include live webinars and carefully crafted courses. Customer service is highly responsive, with one drawback being that there is no phone support. LimeFx also made a significant step forward since my last review by adding 150 CFDs on shares from 16 global stock exchanges. LimeFx excels in research, offering regularly updated commentary written by in-house analysts and trading ideas.
CySEC must comply with the same requirement set by ESMA (the financial body for the EU) that all financial regulators within the EU borders must follow. The standards set by ESMA are quite high, not dissimilar to those set by the FCA in the UK and ASIC in Australia. Our spread module indicates that with LimeFxFX, you are paying more than your competitors, so it may be better to consider trading with other brokers. All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor.
In ZAR this is ≈ R480 if you are using bank transfer to add funds to your account. There are only 3 account types available at LimeFxFX, but none of these account types has ZAR as the base currency. Their spreads with this account are lower compared to the MT5 account. You can either choose the floating spread that starts with 0.6 pips. With this account, LimeFx does not charge you any commission on the trade, only fees is their spread.
A trader working with a broker entity regulated offshore would not necessarily have these benefits. Fundamental analysis is the process of using economic data to make decisions on currencies. For example, traders are likely to prefer owning currencies of countries that are stable and whose economies are growing. To know this, they use economic data like employment numbers, interest rates, GDP numbers, inflation numbers, industrial production, and retail sales to make decisions.
Every year we improve our conditions to make your trading journey easier. We are constantly improving our product to make your trading experience better. Yes, LimeFx is regulated by FSCA, but they are not an approved ODP. LimeFx Group is regulated with 1 Tier-1 regulation CySEC (license number 372/18).
Trader from SA are registered under Orinoco Capital (Pty) Ltd, which is registered in SA. It should be made clear that you can only withdraw funds to method that was the source of your deposit. For example, if you made deposit using bank transfer to LimeFx, then you cannot withdraw to your Skrill wallet. The withdrawals are sent to SA bank accounts in few hours, so if you make the withdrawal request to your bank during business hours, it is normally received in the same day. MT4 utilizes Expert Advisors that permit it to sustain automated trading.
LimeFx offers Islamic swap-free trading on 2 trading account levels. LimeFx offers Extended Swap-free status by default to all applicable trading accounts created by clients in non-Islamic countries. LimeFx provides four different account types, the LimeFx MT4 Account, LimeFx MT5 Account, LimeFxTrader, LimeFx Islamic, Swap-Free, and Risk-Free LimeFx Demo accounts respectively. The minimum deposit amount required to open an LimeFx live account is USD 25.
You can read about our findings in our Standard Spreads test results. Our in-house spread scanning software gave us an idea of how LimeFxFX spreads compare to other brokers. To do this, we take the average spreads brokers publish on their website and compare them with the spreads LimeFxFX public on their website.
You can download the MT4, MT5, and LimeFxTrader platforms from the LimeFxFX website. Installation guides and step-by-step instructions are also available to help you set up the platforms on your desktop or mobile devices. LimeFx offers a swap-free Islamic account that adheres to the principles of Sharia law. MetaTrader is also popular due to its copy trading and automated trading features. In the hands-on testing process, I used MetaTrader 5 for desktops, which includes advanced functions such as copy trading and automated trading.