LimeFxFX also offers the chance to trade energy products like Texas Crude, Brent Crude, and Natural Gas. 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 https://limefx.group/ SPI 200. Regarding account currency, if you join the LimeFxFX European subsidiary, you will use Euros. All other clients will be using USD as the account currency, so if you are in the UK and prefer GBP as your account currency, you cannot choose it.
- To do this, we take the average spreads brokers publish on their website and compare them with the spreads LimeFxFX public on their website.
- As long as a broker has MT4 and MT5 it should be more than enough for most retail traders.
- LimeFxFX provides demo accounts that are accessible with both MT4 and MT5.
- The most popular of the three platforms is MT4, the industry-standard workhorse that more or less every retail broker offers.
- But, it must be said that depositing funds and holding your capital with LimeFxFX is definitely a higher risk than trading with other, more regulated brokers.
The main appeal of this broker is that you can use it if you want unlimited swap-free trading. This feature is a unique offering given that most brokers limit the swap-free limefx reviews period, replace the swap fee with an administration fee, or require you to prove your Islamic faith. Aside from no swaps, there isn’t that much distinctive about LimeFxFX.
Withdrawal Methods And Fees
Many brokers offer a swap-free account and while we are not experts in sharia law, we suspect they may not be truly sharia compliant. This is because the swap has been replaced with a periodic administration fee meaning you receive a charge every certain number of days you hold your position open. The broker uses a no-dealing desk trading model, which means they send your trades directly to the liquidity providers, who will be the counterparts of your order. This trading model is called straight-through-processing (STP) or electronic communication networks (ECN) and is used by many brokers that don’t use a market maker execution model.
It’s worth mentioning that the broker does have a blog and a YouTube channel, yet I was still left wanting more. For both account types offered by LimeFxFX, spreads are floating and start from a minimum of 0.8 pips and have an average of 0.9 pips for the EUR/USD currency pair. This means the trading spreads will get either tighter or wider, depending on market volatility, time of day, and other factors. Your LimeFx demo trading account can do more than just teach you the basics. Experienced traders can also benefit by using their LimeFx Forex trading trial to test or backtest their strategies or master certain tools.
About this app
The standards set by ESMA are quite high, not dissimilar to those set by the FCA in the UK and ASIC in Australia. To make the demo account interesting, LimeFxFX has a demo contest for which you win prizes. Each month, up to $1000 in real prize money is available with $500 for the winner, $300 for the runner-up, and $100 for third place.
Popular Forex Guides
Having traded since 1998, Justin is the CEO and Co-Founded CompareForexBrokers in 2004. Justin has published over 100 finance articles from Forbes, Kiplinger to Finance Magnates. He has a Masters and Commerce degree and has an active role in the fintech community.
This wasn’t good, and we’d like to see LimeFxFX improve greatly in this department. All in all, LimeFxFX does have a good range of funding options but it does seem they are lacking in funding options you would expect to see such as BankTransfer and VISA. Copy trading is a cool concept, but we urge you to be very cautious about who you copy and do your due diligence into the skills and trading strategy of anyone you want to follow. Each platform runs on Windows, iOS, and Android, so no matter which device you trade from, you’re free to use the platform you like the best. LimeFxFX has a fair TrusPilot score of 4.5 out of 5 from 6,511 reviews as of this writing. LimeFxFX is also registered as a company in Saint Lucia, and its trading name is LimeFxMarkets.
