Traders are also given a commission when they introduce friends to the trading platform. I would rate this 4.5 stars simply because the core trading options were not explained on the tutorials so I ended https://limefx.group/ up losing $200 even though my trades made a profit. But since they gave me a $300 signup bonus, the loss wasn’t really out of pocket so I guess I will give them the extra star for a 5 star review.
There are over 17 videos, ideal for beginners, which give users a solid introduction to the forex market. They also have another series of videos called “Discovery”, limefx review which is a continuation of the aforementioned introductory videos. LimeFX is one of the more famous worldwide brokers, for different reasons.
These offerings are more extensive than the base currencies that are accepted by many competitor platforms. As of recently, LimeFX is regulated by the Australian Securities and LimeFXs Commission , which also requires all adherents to follow strict security protocols. LimeFX also deploys comprehensive encryption throughout its site to protect the data of users.
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These two regulatory bodies ensure that all deposits made by clients are safe and kept separate from the company funds. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits. Very High Spreads – The spreads of this broker are far too high- there are many other brokers to choose from that are offering much better choices.
This risk-management feature enables you to choose the level of risk you are comfortable with before placing an order. The broker closes the trade once the price reaches that level. For a small fee, you can cancel losing trades within a stipulated time and have all your money returned as if the trade never happened. It is a unique feature of the LimeFX web platform where traders can activate ‘dealCancellation’ for a trade. The time is set; 1 hour, 3 hours, 6 hrs within which you can cancel the trade if you are at loss. But, if you are making profits, you can close the trade at any time to lock in your profits.
With this tool, you can temporarily stop the fluctuations of the prices of an asset of interest in order to quickly open a trade position at the frozen price. Typically, clicking on the freeze button freezes the prices for about 3 seconds, within which the trader is expected to either click ‘buy’ or ‘sell’ at the paused price. If you refer a friend or acquaintance to LimeFX and they register, make a deposit of at least $100 and trade; you can earn up to $750.
There is a very high degree of risk involved in trading securities. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. With 256 symbols to trade, including over-the-counter FX options and forwards on 28 pairs, LimeFX offers a light multi-asset brokerage solution.
CFD
They also offer fixed spreads, which are nice if you don’t like the added uncertainty of spreads spiking during times of volatility or low liquidity. Their spreads on anything but EURUSD and USDJPY, especially those on crosspairs, are steep. They make trading moves on anything below the 4hr chart difficult.
- As part of our annual review process, all brokers had the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy.
- LimeFX offers clients several suitable and flexible trading platforms to choose from.
- That being said, I wasn’t able to use my scalping strategy on a live account so I couldn’t take advantage of the fixed spreads that were being promoted.
- The clean and simplicity focused platform design does well in keeping users focused on trading, data-namehough it will not be enough to satisfy more demanding traders.
- All traders who make a first deposit USD 100 or above are entitled to receive the First Deposit bonus.
The LimeFX web platform is accessible directly through your browser. This is advantageous as it requires no software to be installed and ensures you will always be running the latest version. It is full of useful analytical trading tools and customisable features.
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Moreover, the account limits made me loose some money, becouse they were not fast enough to remove my limit, after me having submitted all the documents. The are behind the technology and the sinor managment is totally unprofessional. I like the dealCancellation it is easyyou just click on the green tick to turn it on.
We are committed to the fair handling of reviews and posts regardless of such relations. Templates are so difficult to construct and even if you can when you go back to login they won’t even open to what you closed – you have to reconstruct. They offered a bonus of 50% then refused to give it and negotiate for 10% only after putting my deposit. I have used this broker close to a year now and i dont have any problem with it.
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Just keep in mind that demo trading conditions can differ from a live trading account. I experienced this when I tried to switch my scalping strategy from the demo to live account. They didn’t have a problem with me trading the strategy on demo but prevented me from using the same strategy on a real account. If you are not scalping this might not be an issue but I probably wouldn’t have made the effort to open a live account had I known this would happen beforehand.
Good beginner broker, excellent customer service, but expensive trading environment
There are LimeFX mobile applications for Android and iOS devices, as well as the world-renowned MetaTrader 4 platform. Overall, this LimeFX review consists of all the information that you need to know before trading. As discussed earlier, the LimeFX platform is a better market maker than others.
For our 2018 Forex Review, 129 customer service phone tests were conducted over three months. A Net Promoter Score was also given for the overall experience. Charting is powered by Trading View in the mobile app, with the same 81 indicators that the limefx reviews web version of the platform has. Overall, I found it to be simple and basic yet falls behind the best mobile trading apps in our review, in terms of depth of features and tools. EasyMarket customer care has won several awards as the best in class.
GiroPay can be used by Germans, iDeal is accepted by Dutch clients while Sofort can be used by clients from Germany, Austria, Belgium, Netherlands, and UK. Processing times vary from instant to 3-5 days required to complete local bank transfers. Fund deposits and withdrawal requests are available on the platform. Opening an account with LimeFX is a relatively quick, simple, and straightforward process that requires little effort or documentation.