Lime Fx Review A decent multi-asset broker with the widest range of assets
But we also like to teach you what’s beneath the Foundation of the stock market. We also offer real-time stock alerts for those that want to follow our options trades. You have the option to trade stocks instead of going the options trading route if you wish. In the world of stock market and options trading, data-driven decisions often make the difference between profit and loss.
- ROX empowers traders by providing lightning fast access to many sources of liquidity.
- After this you will need to fill out a questionnaire to ensure your suitability for the products and services offered, this is done to protect inexperienced clients.
- Lime Fx offer professional customer support 24/7 via online chat, telephone and email.
- The traders and clients of Lime Fx can use the mobile platform.
- Lime Fx processes withdrawals within 24 hours of the request being made.
REAL-TIME STOCK ALERTS SERVICE
Our experience shows that once verified, the funds will be returned to your account instantly in the case of e-wallets and within 5 days if you choose bank wire. Lime Fx processes withdrawals within 24 hours of the request being made. The research notes are quite useful for forex trading, but there are no videos, webinars or guides to support beginners. Ultimately, the educational resources are nowhere near as extensive as competitors like Pepperstone. With this in mind, Lime Fx isn’t the best forex broker for new traders in our view.
Forex Assets
With that being said, Lime Fx’s research offerings are very weak compared to the rest of the industry. Lime Fx used to be one of the cheaper options, but with the rise of companies like Robinhood, Webull, and Firstrade, there are now cheaper alternatives. It’s important to account for other factors like platforms, tools, executions, etc. While the initial deposit requirement is not out of the ordinary, it is atypical for a broker to require an equity maintenance so close to the minimum initial deposit.
If it’s money and wealth for material things, money to travel and build memories, or paying for your child’s education, it’s all good. We know that you’ll walk limefx reviews away from a stronger, more confident, and street-wise trader. Brokers brag about their rates, like chat rooms claiming to help thousands of traders. Finding the correct broker and subscribing to the right education program took me a long time. Bank Wire Transfers take anything from a day to a few business days depending on the time the payment was made during the day along with the day of the week.
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Bank transfers may take a few business days to clear whilst some methods can be instant. Opening an account with the broker is a quick and easy process with a short online registration form to complete. After this you will need to fill out a questionnaire to ensure your suitability for the products and services offered, this is done to protect inexperienced clients. If accepted you can then upload your documents to verify your identification (passport, drivers license, etc) and address (e.g. utility bill no older than 3 months). Once verified by the Lime Fx account team, you can then fund your account and commence trading.
- They offer toll-free phone service, email service, and a live chat bot.
- Lime Fx + is their free advanced web-based trading platform, available to all clients.
- When comparing alternatives, users highlight several key differentiators.
- With customizable charts and real-time data streaming, it is browser-based.
- By offering a wide selection of instruments, traders can diversify their holdings and capitalize on potential gains across various sectors and asset categories.
On a more positive note, our tests show that withdrawal times are in line with competitors, varying between payment methods with e-wallets being instant and bank wires taking up to 5 days. Our testing of Lime Fx also shows a good range of supported base currencies, including EUR and USD, making this broker accessible to global traders – removing potential conversion fees. The Forex ECN account offers ultra-tight spreads from 0.0 pips, although a low commission of up to $3 applies. Again, this fares well with many firms that charge a commission of $3.50+ on their ECN solutions. Lime Fx suits cost-conscious active traders valuing execution efficiency over educational resources. Its commission structure benefits those making multiple weekly trades or maintaining larger positions.
Its speed, simplicity, and record-keeping abilities can help to give traders a performance edge in the marketplace. The purpose of the ICF is to secure the claims of covered clients against ICF members through the payment of compensation if the necessary preconditions are fulfilled. The broker puts great emphasis on Anti-Money Laundering (AML), Counter Terrorist Financing (CTF) and Know-Your-Customer (KYC) measures. In this section we’ll show you how to open a live trading account with Lime Fx. The registration process and account activation are fully digital, and the broker’s web page is very initiative and user-friendly. In addition, customer support agents are available 24/7 in case you have any questions.
Comparing Lime Fx fees with other brokers
They have a section of their website dedicated to frequently updated news articles. The comprehensive account verification process, while described as “cumbersome” by some users, is generally understood as necessary for maintaining security standards. Lime Fx operates as a US deep discount brokerage owned by WhoTrades, Inc., a Russian-owned company since 2015.
Robo-advisor is a globally recognised service that aims to help traders using modern technologies. It is an automated investment adviser for creating and managing an investment portfolio with minimal human intervention. Investment portfolios are calculated individually for each client, based on the results of a questionnaire with 8 questions to determine your preferred risk preferences. User experiences with Lime Fx’s customer support reveal inconsistencies that appear to depend on the complexity of issues encountered.
That being said, their customer service reputation is less than stellar. Because of their standing as a super discount broker, it would be unreasonable to expect Lime Fx’s research suite to stand up to a research-heavy broker like Fidelity. Additionally, this broker is more marketed to the self-directed trader who likely has their own research sources they pull from.
The available platform is MetaTrader 4 (MT4) and similarly to the Standard accounts, traders have access to hedging, automated trading, and phone trading. The maximum number of available Forex pairs is 47 and traders need to deposit at least 200 USD to be able to open the account type. The broker also provides a range of trading platforms including MetaTrader 4, MetaTrader 5, CQG, J2TX, and Sterling Trader Pro.
It has numerous options and functionalities and offers multiple technical analyses, graphics tools, as well as the possibility of algorithmic trading and automation of the operation. The rest of this review will explore theofferings, accounts, and trading conditions available from Lime Fx ingreater detail. The laudable support system is multi-channelled across live chat, email, and phone communication. Customers can also access a wealth of information on the trading platform, including detailed FAQs and tools for answering questions and explaining diverse trading nuances.
Their website is well-organized, withinformation readily accessible for prospective traders. Unlike some brokers,Lime Fx’s account types are defined by the type of asset traded – forex,stocks and options, futures, or CFDs. They offer a few account types withdiffering market access, fees, and commissions. This account is for professional traders, trading through one https://limefx.biz/ of the most powerful and modern platforms for Forex and MetaTrader 5 stock exchanges. Spreads on this account type start from 0 pips with a $2 per lot commission charged. On the other hand, traders are charged commissions starting from 3 USD per lot.
However, this broker’s low Trustpilot rating (2.5/5) and limited worldwide availability (only 33 countries) make it not the best option for everyone. While Lime Fx advertises 24/7 support, some users have reported occasional delays in response times. Lime Fx’s platform includes tools to maintain trading discipline. Implement position sizing of 1-2% per trade to prevent significant capital impact from individual losses.
You will find everything from major currency pairs to stocks of large companies. Lime Fx offers lower fees than most forex brokers based on our evaluation. The MT5 Global account is particularly competitive, with spreads from 0.0 and a commission up to $2, which is significantly lower than most alternatives. This account features a minimum deposit amount of $100, nobrokerage commission, and negative balance protection. Commission charges are waived off in most of the trading accounts. Forex and CFD Standard trading accounts and MT5 global accounts do not involve any commission charges as these accounts are designed for beginners and professional traders.
It is commonly used by professional traders and allows you to avoid the use of intermediation software. This provides a direct connection to institutional liquidity providers with lower latency and improved fill rates. Unlike, the traditional “discount” brokerage firms like TD Ameritrade and Scottrade, Lime Fx has very little infrastructure, opting for a more lean business to justify their low fees. They offer no advanced trading platforms, research, or on-demand customer service that a traditional discount brokerage firm would. Lime Fx offers trading services through Forex and CFD Standard, Forex ECN, and MT5 Global accounts. These accounts have variable spreads from 0.0 pips and trading commissions from $2 per lot.
They offer a wide range of assets, andtheir minimum deposit requirements are relatively low. Additionally, theyprovide a greater selection of trading platforms than many other brokers. The minimum amount required is USD 100/EUR 100 and users pay a commission only for results.
