LimeFX Review 2024: Pros, Cons, & Fees
The broker claims to process withdrawals by cryptocurrency immediately but withdrawals with bank payment could take 1-3 hours depending on the processing bank. Although LimeFX is regulated by just 2 regulatory bodies, it does business in multiple jurisdictions worldwide. It prioritizes its clients’ account safety by keeping clients’ funds in segregated bank accounts. LimeFX employs state-of-the-art technology and advanced security protocols, which includes SSL web encryption and two-step authentication to protect clients’ confidential data. The custom-built LimeFX mobile trading app features a simple yet functional user interface. The respective app versions are downloadable from the Google Play Store or App Store for Android and iOS-based mobile phones.
Trading Instruments
LimeFX boasts of a spread floating, starting from as low as 0.6pips. Although, the broker’s spreads keep changing throughout the day. Depending on the market’s volatility, clients can expect to pay a minimum spread of 0.6 pips on trading pairs like GBP/USD and EUR/USD. Commodities like Gold and Silver are on the other hand, tradable on spot for a minimum spread of 1.9 pips and 2.0 pips respectively.
- Also, the stock CFDs are not available for trading with this account.
- Established in 2011 and located in London, LimeFX is a forex broker that renders its services to users worldwide.
- Therefore means its operation is aligned to the necessary protection level.
- Here is a screenshot of LimeFX live quotes during the London-New York overlap session, the most liquid one, where traders usually get the lowest spreads.
LimeFX Account Types
LimeFX is transparent about its fee structure, and there are no hidden fees. All costs related to trading, such as spreads, commissions (if applicable), and swap fees, are clearly outlined. Traders should always review the limefx review terms and conditions to understand all applicable fees.
LimeFX: Maximum Leverage
Although the response is instant, the broker lacks a personal touch in customer support, you can opt for SmartSTP broker to get better and personalized customer support. You can download the MT4 and MT5 on iOS and Android mobile trading apps directly from Apple Store or Google Play. Alternatively, you can also download them from the LimeFX website that offers step-by-step useful installation instructions. If you limefx forex broker consider their GBP/USD spreads for example, it is on average 1.1 pips with MT4 & MT5 accounts.
Master’s Fees
Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the research team. Should you need it though, the customer service team is available through live chat, phone, and email to deal efficiently with any problems that may arise.
A review of the broker’s trading instruments reveals that users are allowed to trade over 120 stocks. Most clients with high volume accounts have an adverse opinion about the company. They complain of LimeFX being a scam broker, denying them withdrawals and going on to block their accounts. After 324 reviews, LimeFX holds a rating of 2.997 out of 5 stars on Forexpeacearmy. The video course provides a sound introduction to forex and forex trading, helping beginner traders to grasp things quickly. While the free webinars allows clients to learn from veteran traders one-on-one, at a scheduled time.
In the case of bank transfers, all requests are processed within 1–3 hours during the working time of the broker’s financial department. However, deposits via Skrill, Neteller, Visa, Mastercard and crypto are instant. Below is a tabular review of the various deposit methods and the processing time. The broker claims to offer competitive spreads as compared to other forex brokers.
This review will focus on its regulations, trading instruments, deposit & withdrawal methods, online trading fees, spreads, leverage and how to open an account. It will also explore the investment safety measures provided by the broker. At BrokerNotes.co, our data-driven online broker reviews are based on our extensive testing of brokers, platforms, products, technologies, and third-party trading tools. Our product testing extends to the quality and availability of educational content, market research resources, and the accessibility and capabilities of mobile platforms and trading apps. We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points.