That’s a big plus, especially if you’re an intermediate trader who wants to reinforce your analysis. I noticed the fee structure changed when I switched to an Active Trader account. While the spreads were tighter, a commission per trade was added on top. That keeps things simple, especially when you’re just getting started or trading in smaller volumes.
Lime Fx does not charge for any type of fund deposits and standard traders are not charged commissions on trades. Their charge is levied across the spread cost which is calculated automatically when trades are executed. The Lime Fx platform is easy to navigate around and new customers will find it is a simple matter to answer most common questions via the FAQs section of the site. A comprehensive knowledge base and education centre also offers a lot of information about trading strategies for beginners or experts. If you want to start practicing without making a deposit, you can open up a free demo account.
I learned how to day trade forex with Lime Fx and have had a brilliant experience. I found their forex tutorials super informative and since actively trading the technical analysis on major currency pairs in Lime Fx Plus has been fab. Really insightful and easy to mock up on my own charts where I can then validate patterns. Their Market Scanner is also brill for assessing the strength of signals (although it doesn’t always work/load properly which is irritating).
If you trade a notional amount of over $10 million per month, you qualify for a rebate for the trades you placed that is credited directly to your trading account the following month. As we researched this forex broker, we were impressed with the customer support offered by Lime Fx. Support methods include live chat, email, and phone and this is available 24/5.
Lime Fx also offer AUD, CHF and more base currencies, however, this depends on the Lime Fx entity you register with. Added to this, Lime Fx also provides for additional insurance which will protect you in the event of bankruptcy and insolvency. There are only 15 US shares available which is again low compared to many top brokers, but they are a good choice for trading some of the most popular companies that are available here.
Lime Fx caters to most traders from its CFD account type, with the primary difference being by regulatory jurisdiction. Yes, Lime Fx is fully authorized under U.S. law and is registered with both the CFTC and NFA. Lime Fx is a market-making broker with a long history in the market, having been founded in 1999 in New York. 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.
- The entry/maintenance margin is the initial deposit set aside as collateral in order to open and maintain a position.
- With Trading Station you can use a range of trading analytics, including customized ones.
- Lime Fx trading station is the proprietary trading platform of Lime Fx and is available through their very intuitive and attractive webtrader to run in your browser, or on both desktop and mobile.
- Lime Fx no longer accepts U.S. clients because it had to pay $7 million in 2017 and give up its registration with the U.S.
- More advanced resources and a larger video library would further enhance their offerings.
If you prefer to place orders by phone, Lime Fx offers a trading desk line that can be handy should you experience an interruption in your internet connection. Use the calculator below to compare Lime Fx’s trading costs with competitors such as Pepperstone, Eightcap and CMC Markets, adjusting for trade size, currency pair, and base currency. Our broker reviews are reader supported and we may receive payment when you click on a partner site. Steven Hatzakis is the Global Director of Online Broker Research for BrokerNotes.co and ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).
Is Lime Fx a good broker?
While minimum balance requirements could incentivize some traders to utilize the educational resources, I think it’s better to make the content free for all clients. Motivation can instead be inspired by creating interactive courses that feature quizzes and incorporate progress tracking. It’s worth mentioning that your trading account balance must meet a threshold to access certain educational content. With its wide range of available platforms and deep offering of trading tools, Lime Fx has set the bar high and competes among the best brokers in the industry.
- This includes debit and credit cards, bank wire transfer, PayPal, Google and Apple Pay, Open Banking, Skrill, Neteller and Rapid Transfer.
- As part of this effort, we track 100+ international regulatory agencies to power our proprietary Trust Score rating system.
- The feature gives users the ability of traders to share ideas and strategies and help other traders.
- It is also a place where you can backtest your APIs and obtain live feedback as you code as well as publishing your own market analysis.
- Lime Fx’s customer support stands out with its 24/5 availability and worldwide reach.
- The analyst insights often include expert commentary, technical analysis, and fundamental insights on various financial instruments such as currencies, commodities, and indices.
Does Lime Fx charge stamp duty on CFDs?
I haven’t used these services personally, but it’s good to know that Lime Fx caters to retail and professional-level traders. If you prefer social or copy trade, then Zulu Trader might be your preferred choice of the trading platform. This type of trading allows you to copy the trades of experienced traders, making it a great choice for beginner traders wanting to learn the trading strategies of successful traders. The feature gives users the ability of traders to share ideas and strategies and help other traders.
This is free as long as you trade an average notional volume of 500k. Since Lime Fx launched in 1999, the broker has weathered difficult market conditions including the 2008 financial crisis. This, paired with an exchange-listed parent company that must submit transparent financial statements, shows that they have the capital to withstand difficulties and should provide you with confidence. Overall, our Lime Fx review team found that this is a reputable brand with a high level of safety.
FAQs Comparing Lime Fx Vs OANDA
Additionally, the Lime Fx UK website specifies that spread betting is available exclusively to the UK residents, however, other countries still appear on their drop-down list when making an application. They offer assistance with any areas you might need help with, it’s like they want you to limefx company reviews succeed and will help you along the way. I find the roll over fees are wrongfully calculated as the don’t make sense. When you ask for the formula they give the way around and is left unexplained. These are otherwise known as blends and they typically pool assets from a specific sector together so you can invest in that entire range of assets as one.
The range of markets available with Lime Fx is quite broad however you can find other brokers that offer more choices for each financial instrument. 39 currency pairs, for example, would put Lime Fx at the lower end of the broker for limefx broker reviews currency choices. If you are a high-volume investor, then the Active Trader account may be for you.
Opening a live forex trading account with Lime Fx is a quick and straightforward process. There are no account minimums, enabling traders of all sizes to start their forex trading journey as they see fit. When it comes to forex trading, compliance and regulation are of utmost importance.
Most of these articles are from FXStreet, a well-respected source of news in the industry. Whilst NinjaTrader is deemed a powerful platform by many, our Lime Fx reviewers would advise that only experienced traders use it. It is not as intuitive as MetaTrader 4 and can be quite confusing for new traders.