ECN accounts allow traders to exploit the tightest spreads and access the deepest liquidity pools. The more instruments available on FX Open and LimeFX trading platforms
the more potential financial instruments you can buy or sell for your portfolio. It is good to have a diverse portfolio and the options available to a user will always vary. Trading is all about grasping potential opportunities
and you seriously do not want to miss out on a trading opportunity due to the limitations of FX Open or LimeFX. Besides lots of currency pair,
LimeFX also offers some instruments you would like to trade on, such as
Crypto for your best choice.
The broker segregates client funds in top-tier UK banks and provides negative balance protection. There are no fees for withdrawals made in GBP though a minimum limit of £30 applies for bank wire transfers and £10 for credit/debit cards and instant bank payments. Although these payment solutions are suitable for the majority of traders, it is a shame there are no e-wallet solutions such as Skrill, Neteller, or PayPal. There are also no cryptocurrency payment options, which many brokers now accept.
A solid partner with great customer service
The broker welcomes clients from all over the world but do not provide services to United States residents due to strict US regulatory restrictions. This is not unusual since the USA is pretty strict in their financial regulations. If you are looking for a USA broker, then IG would be my top choice. In terms of regulation, Plus500 have are one of the most well-regulated brokers that you can trade with. LimeFX has an execution quality certificate from Verify My Trade that compares 5,000 trades per month against a benchmark of other brokers and liquidity providers.
- The award-winning live trading platform has 30 million monthly traders and offers a suite of useful tools.
- We compare side by side the trading risk management features offered by FX Open and LimeFX below.
- LimeFX Markets Limited is a legally registered entity located in Saint Kitts and Nevis, but is not regulated by any government agency.
- If you use Microsoft Windows tablets or phones, you must also check if FX Open and LimeFX have trading apps compatible with your device.
The ECN account, on the other hand, provides direct pricing from liquidity providers, and so, a commission fee applies. From the broker’s website, you can choose to either open a live account or a demo account from the top right-hand corner. You will need to select which account type you wish to trade and verify your identity and proof of address. LimeFX offers a $10 no deposit bonus (NDB) for the ECN TickTrader account and the STP PAMM accounts. There is also a $1 welcome bonus for Micro accounts and a ForexCup Trading Contest bonus, subject to demo contest terms and conditions. LimeFX offers a free demo account on any of the platform options.
Traders can access Market, Stop, Limit, and Stop-Limit orders vs the nine order types available on the broker’s proprietary platform. Note, cryptocurrency trading including Bitcoin, is available to professional traders only. The ECN model provides direct access to interbank market prices, with no dealing desk intervention. TickTrader is our new technologically advanced multi-asset trading platform for
the most demanding of traders. Your trade is executed instantly through our wide range of liquidity providers streaming real-time prices. Apply for a free VPS (see Terms & Conditions) for enhanced trading flexibility and speed.
The breadth of additional tools and market insights are also excellent benefits. Withdrawal requests made before noon (GMT) will be processed the same day though the time taken for funds to be returned varies by method. Card withdrawals can take between two to five working days and bank wire transfers between one and three days. On a more positive note, LimeFX does not charge any deposit fees, though minimum and maximum limits apply.
Regulated True ECN Broker
Other fees to be aware of include swap charges on positions held overnight. LimeFX also charges a $10 monthly inactivity fee after a profile has been dormant for https://limefx.name/ six months. To get started, sign in to the LimeFX client portal and add a TradingView account. Next, fund your TradingView account through an internal transfer.
Founded in 2005, the company is registered in Nevis as a company, but not regulated by the Financial Services Regulatory Commission. Instead, investors are protected by The Financial Commission, based in Hong Kong. Accounts can be opened in a great selection of currencies including USD, AUD, CHF, EUR, GBP, JPY, RUB, SGD, Gold, mBTC. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
- A day trader using FX Open or LimeFX will look to open positions and close them on the same day.
- Divergence trading is a cornerstone concept in the realm of technical analysis, offering traders a unique perspective on potential market reversals.
- Some of you might be thinking about what we mean when we say ‘trading style’.
- Our UK team takes a methodical approach to reviewing online brokers.
Over 100 data points are considered, from minimum deposits and trading fees to the platforms and apps available. Our broker ratings are also informed by the experience of our researchers during the evaluation process. LimeFX is a suitable ECN and STP broker for both beginners and experienced investors.
Choose a trading platform that fits your needs and trade from anywhere. The support team can help with several issues and questions including e-wallet and Bitcoin deposits, withdrawal problems, and proof of address queries. The ECN or STP demo server will remain accessible limefx courses scam as long as you log in each month. You can then upgrade to a live real-money account when you’re ready. Although trading with significant leverage can increase profit prospects, it can also increase losses. Ensure you have appropriate risk management strategies in place.
Minimum and maximum deposit and withdrawal amounts depend on the preferred payment processor, as do processing times and fees. This is one of the reasons why LimeFX’s ECN account has become a trader favorite. Multiple order and execution types are supported including market, pending, limit, stop loss, take profit, trailing stop, etc. In addition to this, they offer One Click Trading and a Level 2 MT4 plug-in, so you can place trades with just one click.
LimeFX provides trading service in
Forex , Gold & silver , CFD , Oil , Stocks , Indexes , Energies , Crypto and Crypto . As for the payment methods, you can choose between
Wire transfer, Credit/debit cards, FasaPay, Crypto, Litecoin, Ethereum, Crypto Cash, Tether (USDT), WebMoney and AdvCash. The customer support is available via
Email, Live chat, Forum and Phone. Interestingly, back in 2009, LimeFX were amongst the first brokers to offer clients direct access to interbank liquidity with ECN trading through MT4. This is why they can continue to give you some of the lowest spreads and commissions in the industry.
Is LimeFX A Good Broker For Beginners?
They have satisfied and continue to maintain execution quality standards. I can say from experience that I have always received good execution on my trades, even when scalping during hours of low liquidity. LimeFX aggregate liquidity from multiple participants which can give you institutional liquidity and instantaneous order execution.
ECN accounts are used for fast and efficient trading, with lower transaction costs and greater transparency. While they may not be suitable for all traders, those with the necessary experience and expertise can benefit greatly from using an ECN account. FX Open does offer clients Standard accounts, while LimeFX does not offer clients Standard accounts.
Although the platform is renowned for forex trading, traders can access all instruments. With ECN accounts, forex commissions are charged based on the account balance. Nonetheless, traders with an account balance less than $1000 will pay a $3.50 commission charge per lot traded. This reduces to $1.50 per lot for those with an account balance of $250,000 or more. Similarly when we traded commodity CFDs, we incurred a commission charge of 0.005 for lower account balances and 0.0025% for a balance over $250,000. Crude oil and natural gas were charged at either 0.005%, 0.0025%, or 0.0018% per side, depending on the account balance.
LimeFX started as an educational center offering courses within financial markets. In 2005, a group of traders turned the company into a global brokerage with offices in the UK, Russia, New Zealand, and Australia. All an IB Forex partner has to do is refer clients to a trading platform and get rewarded for it. Every time one of your referred clients makes a trade, you get an IB Forex commission. The program is absolutely free and available to all registered users.