limefx review: Is it a legit or scam forex broker?

January 31, 2022
Forex Trading

The CFD rollover allows clients to maintain their present open position in the subsequent months. The MT Pro software application allows enhanced access to the MT4 trading platform to trade fx and other products. Customer support service is available 24×7 over email, phone, and live chat on limefx. One may even receive personal assistance by paying a visit to the head office of the firm at 1 Fore Street Avenue, London. limefx is a forex broker regulated by FCA, NFA, and CIMA since 2005.

If you’re looking to break into forex trading though, limefx is a good opportunity as it offers a no-nonsense, streamlined approach to the market and its commission and fees are fairly competitive. The company also offers a demo account, which is an invaluable opportunity to get to try out the platform and get to know the forex market before investing any real-world funds. Head over to our Gain Capital review for insight into another stellar online broker.

limefx forex brokers reviews

In this review, we will go through exactly how limefx can help give you a head start in the forex market. We will highlight what we like, and where we think the broker could improve. We’ll then complete the review by delving a little further into how COVID-19 is influencing the forex market. The clients of limefx are charged with inactivity fees if they do not conduct any buying or selling transactions for six months in a row. The inactivity fee is $50 or the equivalent amount in other currencies. If you seek to trade and invest in assets on your own, go for an Individual Account and for conducting economic activities on behalf of your company or institution, opt for opening a Corporate Account at limefx.

Visit the official website of limefx and click on the “Start Demo Trial” button to start demo trading that is trading in assets without making any deposits. Upon clicking on the button, you will get redirected to the Demo Trading application form. In the form, select the MT4 platform, country of residence, and currency.

limefx Investor Education 👨‍🏫

In CFD Rollover, the traders of limefx allow the CFD contracts to rollover automatically to the subsequent liquid contracts prior to the expiry of the current contract. The process of CFD Rollover refers to the switching transition from the contract of the current month that is almost about to expire to the contract of the next month. Some of the financial instruments that depend on futures CFDs are rolled over at regular intervals.

  • Beginners with low minimum deposits will be put off by the high trading costs on limefx's entry-level Standard and MT4 accounts.
  • To withdraw money via Skrill, the mirror trader has to pay a total deposit fee of 1.0% of the amount to be withdrawn.
  • This means that any funds paid by traders are held to an account for safety and security.
  • The chat function was even more readily available, with an agent available in just a couple of minutes.
  • MT4 Plus – It is a plug-in that enhances the order features on the MetaTrader 4 platform.

limefx operates a 100% agency model and does not take a position against the trader to manipulate trading activity in its favour. The broker forwards clients orders to the liquidity providers where they are then executed at the best rates. The online broker could improve its educational section and offer a wider range of instruments to compete with other leading brokers, like limefx. Our primary goal at The Tokenist is to simplify the word of financial decision-making, so that investing is not only easy - but also fun. In doing so, we often feature products or services from our partners.


These authorities protect consumers and maintain a regulated and neutral trading environment on the trading platform. The strict rules imposed by CIMA protect the clients of limefx and ensure the safety of the client funds in the platform accounts and allow one to trade effectively with the help of the regulated broker team. It is recommended to make minimum deposits via bank transfer as bank transfer deposits do not require any additional minimum deposit fee or withdrawal fee. For withdrawal, the fee is 25 GBOP or 30 EUR or 40 USD for international bank transfer. However, if one seeks quicker withdrawal of money, they need to make an extra payment of 10 GBP for faster payment via card withdrawals.

  • Being a non-dealing desk, the broker passes clients’ orders directly to the market or liquidity providers without interpreting them.
  • Alternatively, for less urgent or more general queries, the site offers a detailed FAQ section, which deals with queries relating to accounts, the platform and trading in general.
  • limefx allows Expert Advisors automated forex trading on the Metatrader4 platform.
  • With the rapid expansion of online brokerages that don’t have account minimums, even the brokerages that do have minimum deposits have been forced to reduce them to attract new clients.
  • One of the best platforms, plenty of willingness to serve/assist the client and professionalism in general, as it suppose to be with a USA Compny.

The platform is also somewhat restrictive with its payments and withdrawals. The options to fund your account are via bank transfer, Visa, UnionPay, Skrill, and Mastercard, with USD and EUR being the only currencies supported. With the initial deposit of $5,000, the limefx is one of the Forex brokers with highest initial deposit. However, although this can be a significant disadvantage, it also means that they bring some guarantee for their customers. Another problem for many clients is that ATC charges commission on all trades you complete.

limefx has only one trading account to the worlds’ financial markets FX, Metals and CFDs. Also, new traders or those who want to see limefx performance with no risks can benefit from the trial trades through Demo-Account. The 20-day free demonstration of platforms with a simulated 100,000$ is available to all. These accounts are offered by various online trading platforms, including stock trading platforms, foreign exchange trading venues, and commodities exchanges.

Who limefx Is For?

We have found that the best way for traders to choose a broker is to compare brokers side-by-side. The comparison tool below allows you to compare two brokers based on their ratings and features. In order to stay in business and provide safer trading environments, regulatory authorities will require that brokerage firms comply with a variety of rules.

  • Awesome and very insightful updates👍👏🏻✌ Well i will also say this here...
  • It is mandatory to clear every due while closing the account at limefx.
  • Thanks to its full licensing and regulation through the FCA this Forex brokerage is 100% secure.
  • After reading, you should be able to answer these questions and decide whether the platform suits your own trading goals.

For the fees while transferring funds to or from the account, the broker adds a charge of 2.9% for Cards and E-wallet deposits, Withdrawal fee for USD currency will be 40$ . The broker offers forex trading on technology STP and ECN and the possibility of investing with the help of PAMM-accounts. Thanks to its full licensing and regulation through the FCA this Forex brokerage is 100% secure.

responses to “limefx”

It offers multiple products giving access to trade FX, Metal, and CFDs from one account with narrow spreads. There are other top rated forex brokers for beginners that offer better education sections. If you sign up with limefx you will have the choice of three account types. All accounts have a minimum balance requirement of $2,000 for global clients, but European and UK clients will need to deposit a minimum of £/$/€5,000. You can begin trading in CFD, Crude Oil CFDs, silver and gold, commodities, other exotic metals and forex pairs, including major forex pairs like EUR/GBP, EUR/JPY, EUR/USD, and GBP/USD. If you decide not to trade with your account anymore, it’s best you close it by notifying customer support to avoid fees.

limefx forex brokers reviews

In this piece, I review various products and services offered by the broker in detail. MT4, or MetaTrader 4 is one of the most popular trading platforms among forex traders. The software offers an extensive range trades including CFDs which have become very profitable in recent years due to high market volatility.

There are a lot of brokers out there operating under fake company names or that have other fraudulent operations. A little bit of preliminary research can go a long way in protecting you and your finances. The first step to protecting yourself from fraudulent parties online is to do thorough due diligence on the companies and entities that you are planning to send the funds to.

limefx goes the whole 9 yards to ensure that it offers rapid executions of trades, unbiased services, and trading platforms that are free of manipulation. Thanks to FCA regulation, limefx operates within a strict legal framework which espouses healthy competition in the financial sector, with full enforcement of rules, regulations, and codes of conduct. The trading platform provided by limefx is MetaTrader 4, or MT4.

Many fraudulent firms will even claim to be domiciled in a regulated jurisdiction, and display fake regulatory licenses and addresses on their websites to try and improve their credibility with unsuspecting investors. Transaction costs are not low or high and appear to be close to the industry average. Unfortunately, you cannot make an exact comparison without knowing which periods the standard spreads apply to. Prices of average spreads quoted by this device in the United Kingdom. However, spreads are slightly different from the amounts of American counterparts. With this information, it is safe to say that limefx has taken all necessary precautions in order for their brokerages and accounts be secure.

It shows analysts’ consensus on the event’s likely to impact on selected assets. It is compared to the history and a trader can make decisions based on the analysis that follows. limefx offers few options limefx website when it comes to research offerings. Besides a Virtual Private Server service for MT4 users and its Trader’s Corner blog, which is not highly active, the broker provides only an economic calendar.

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