LimeFx Review 2024: Pros, Cons and Key Features

LimeFx commission fees are competitive compared to other online brokers with similar ECN Account types. As shown in the table below, RAW Account holders pay $3 per side, per 100k traded, while most brokers charge $3.50. When trading LimeFx commission-free spreads, MetaTrader 4 and MetaTrader 5 are available as trading platform options, and for those located outside Australia and the EU, cTrader is also an option. LimeFx offers competitive no commission spreads, as low as 1.1 pips for the frequently traded EUR/USD forex pair.

Since mobile apps cater more to portfolio management, up-to-date developments, and copy trading, they offer the necessary tools to achieve the above. They include economic calendars, streaming news, and watch lists but do not include the cutting-edge trading tools LimeFx offers for its desktop trading platforms. Demo accounts provide access to live market prices, enabling traders to gain real-time insights into market movements. Additionally, it offers the opportunity to experiment with automatic trading strategies using Expert Advisors, further enhancing the learning and testing experience. LimeFx sets itself apart in the competitive broker landscape with its ECN-style pricing and extensive asset offerings. It’s recognised for providing a variety of trading platforms, including MT4 and MT5, and for its swift execution speeds.

It wasn’t going smoothly, and I was quite frustrated with the process. However, my accounts manager, Steve Tee, helped me follow up with the finance team, and try to find alternative methods to help with my deposits. Though the entire process took close to 1.5weeks, my funds are inside my trading account now. Overall, LimeFx is a strong choice for traders of varying levels of experience.

However, they are constantly making an effort to minimize the waiting time while ensuring quality service to their customers. LimeFx allow their clients a series of ways to fund/withdraw from their accounts. This section of the review will discuss the methods of deposit and withdrawal offered by LimeFx. A demo account is available with no requirement for a minimum deposit to facilitate the users. The 10+ funding options are available in the app including credit card, debit card, wire transfer, PayPal, BPAY, Neteller, and Skrill. The desktop trading platform offers sophisticated automated trading tools for unending price quotes, charts, and trading strategy monitoring.

1. The latest development of the in-house social trading service at LimeFx introduced it to the resurgence in demand from retail traders for this sub-sector of trading.
2. The following are the offices and regulatory bodies of LimeFx’ entities.
3. There is an abundance of information all in one place that is suitable to different levels of traders including video tutorials and eBooks to help improve your trading knowledge and skills.
4. If you are planning on using any trading robot, then a VPS can be a great solution.
5. Overall, this broker is one of the most affordable, and we give it a 4.3-star rating.
6. They include bank wires, credit/debit cards, online payment processors, and cryptocurrencies.

This is not the lowest you will find considering brokers such as Fusion Markets let you deposit anything from $1. During standard hours from 9 AM to 6 PM EST, traders can access live customer support for prompt assistance. Beyond these standard hours, the broker ensures that support remains available, accommodating its global clientele. Multi-channel support is a highlight, offering live chat, email, and phone support, enhancing accessibility and allowing traders to choose their preferred communication method.

Commissions and fees

LimeFx charges no inactivity fee but they will disable the account if there is no activity for more than three months and there is no balance in the account. The account can be reactivated anytime by sending an email to LimeFx through the client’s registered email address. It maintains an elevated level of transparency and has established itself as a reliable broker. It continues to earn the trust of clients for over fifteen years and counting. According to five leading user-review and broker ranking sites, LimeFx ranks exceptionally well.

I found the app very user-friendly but limited in terms of market analysis tools when compared to the MetaTrader app. Through the LimeFx app, you can place, monitor and review trades within seconds. Traders can also conduct research and technical analysis using a wide range of trading tools.

Does LimeFx accept Canadian clients?

Australian clients remain shielded from potential damages by the Scheme for Compensation for Detriment caused by Defective Administration (CDDA Scheme). Yes, LimeFx accepts retail forex traders from Canada, but do not accept clients from the United States (US). To cater to its global clientele, LimeFx’ live chat service is multilingual https://limefx.biz/ and supports over 12 languages, effectively removing language barriers and enhancing the overall customer support experience. For Iress accounts, a higher minimum deposit of 1000 AUD is required in Australia. Still, LimeFx secured the 10th spot among 20 brokers, confirming it as a broker with effective execution speeds.

Providing a Secure Trading Environment

Choose your preferred deposit method, such as bank transfer, credit/debit card, or e-wallet. LimeFx typically offers various funding options to cater to your needs with no deposit charges. The combination of advanced encryption measures and the supervision of multiple limefx regulatory authorities makes LimeFx a reliable and secure choice for traders. One thing to note is the broker advertises zero deposit fees, but that isn’t technically true. The charge is 1.8% in the case of an Australian card, and 3.18% for international cards.

Each of the additional products is discussed here in this section of the review. LimeFx has a 4.9/5 rating on Trustpilot – which is an exceptional rating for a forex broker. According to his comments, it was evident that the customer service team issued prompt responses. With LimeFx, you have so many opportunities to learn from their Academy. The academy has everything in store for a beginner trader who has no enough knowledge and skills regarding trading products and platforms to someone who’s more experienced in the field.

LimeFx offers multiple accounts based on the trading platforms, MetaTrader and IRESS, available on LimeFx Demo Account. You can make deposits and withdrawals using flexible payment options, including debit/credit cards, e-wallets, and bank transfers. Forex traders may use the LimeFx VPS hosting for MetaTrader 4 and MetaTrader 5 to implement automated algorithmic strategies, such as EAs (Expert Advisors). With virtual private server access, any concerns about downtime influencing trades are greatly minimised. A dedicated VPS helps eliminate trading platform difficulties on operating systems caused by an internet connection or a server. I think this is a great tool for those of you who want to run automated systems around the clock without needing your computer switched on.

In addition to the percentage allocation technique used in a PAMM, this allows for various unique ways to sub-allocate transactions. Percentage Allocation Management Module Manager, or PAMM, is a type of pooled money FX trading. Investors can be part of a group of sub-accounts traded collectively by a money manager or trader who has customers’ authorisation to trade their accounts under an LPOA (Limited Power of Attorney).

Deposit and Withdrawal Fees

The commission structure is highly competitive and a free 24-hour phone broking service is included. I didn’t really learn anything new from the trading guides but found the market analysis informative and became more aware about some potential trading opportunities approaching on various markets. LimeFx offer a Multi Account Manager (MAM) and Percent Allocation Management Model (PAMM). Money managers can take advantage of LimeFx Electronic Communications Network (ECN) and deep liquidity for tight spreads and fast execution speeds at the required volumes. I use a VPS to run my MetaTrader platforms around the clock without needing my laptop up and running. This is because I use automated systems that need the platform open at all times in order to analyse the markets.

If you are considering joining the LimeFx community, here are the simple steps to setting up an account and getting started. Meet Thadeus, a trading guru, brilliant writer, and financial fanatic with years of expertise in the industry. For the Platinum account, the broker fee is $9 or 0.09% of trade value, whichever is greater. LimeFx also provide daily market reports, market analysis and webinars. MT4 is fully customisable to suit your own individual preferences with emphasis put on usability for quick and efficient trading. There are multiple chart types and time frames along with a set of drawing tools.