LimeFx Review 2024 Trade with an award-winning CFD broker

It’s advisable to begin trading with a small amount of money and increase the amount you wish to put on your trades as you become more confident. It’s important to recognize that initial losses are part of the learning curve in trading. To protect traders from huge losses, a robust risk-management strategy is essential.

Trade with a Regulated Broker

LimeFx offers the standard out-of-the-box MT4 platform together with an upgraded package labeled MT4 Advanced. Overall, LimeFx offers a wide range of deposit and withdrawal methods, but it charges a fee of 50 USD for bank transfers under 300 USD, which is relatively expensive. Additionally, it is not transparent about its deposit or https://limefx.club/ withdrawal fees. UK residents will be trading under the subsidiary, Notesco Ltd (UK), authorised and regulated by the FCA in the United Kingdom. A drawback for beginner traders considering LimeFx is the lack of educational and market analysis materials available, forcing traders to self-educate with other third-party platforms.

Trading Tools

LimeFx provides Virtual Private Server (VPS) hosting to ensure better connection and faster execution for algo trading. Social trading is also available via LimeFx’s ‘AutoTrade’ feature, allowing clients of the broker to choose the best-performing trading strategies. There is a detailed description of each account type’s spreads and commissions.

LimeFx Deposit and Withdrawal

The main goal of risk management is to minimize possible losses while maintaining the potential to generate revenue. This is often demonstrated by the risk/reward ratio, a form of cost-benefit evaluation that compares the expected return on an investment with the level of risk undertaken to achieve those results. Forex trading involves buying or selling one currency in exchange for another and is used for various purposes, from travelers exchanging currencies to global financing.

The importance of risk management

Fund managers may trade and manage numerous MT4 accounts at the same time using the PMAM platform. It provides clients with an easy-to-use money-management system that includes innovative tools for best market execution. Other brokers worth exploring with managed accounts include Key to Markets.

It is vitally important for a chart to be as clear and informative as possible and allow traders to manipulate price action freely by scaling it up and down. Additionally, a good chart should be supplemented by a broad range of technical indicators, drawing tools, and other such instruments to accommodate technical analysis. The table shows how much you will have to pay to trade 1 full lot (100,000 units) on the EUR/USD when the pip value of the pair is $10.

1. That being said, LimeFx do plan on adding the MetaTrader 5 platform soon if that is your platform of choice.
2. When deciding on which account type to choose, you should consider a number of factors, including the product(s) you wish to trade, the trading conditions, and execution type.
3. I think they could improve by extending support hours to the weekend in order to keep up with competitors such as LimeFx who provide 24/7 support.
4. I checked the usability of LimeFx’s seven retail account types and found them quite diverse, with hugely varying pricing mechanisms.
5. She also writes weekly technical analyses and has tested and reviewed over 100 Forex brokers.
6. I also compared LimeFx’s trading and non-trading fees to other brokers and found out that, as a whole, they fall below the industry average.

LimeFx recently strengthened its educational tools by introducing the Academy. Home to a breadth of content presented in courses, webinars, videos, podcasts and eBooks, it offers a complete trading experience for traders of all levels. Today, the company employs more than 450 people and has created a solid reputation as a trusted and reliable broker. Its 200+ instruments and multiple platforms are accessible in 180+ countries with 50,000+ retail traders worldwide. Traders need to understand and remember that CFDs are leveraged, complex products that may be accompanied by the risk of incurring losses that may exceed the initial deposit of the trader.

LimeFx is a global multi-asset CFDs broker and is part of the LimeFx Group which includes several entities including some authorised and regulated by the FCA (UK) and the FSCA (South Africa). However, please note the subsequent information in this review pertains to the entity Notesco Limited registered in Bermuda with registration number 51491. LimeFx could be a good starting broker for new and intermediate retail traders, although more professional traders might look for a broker with additional research resources and assets. In addition, the broker provides affiliates, professionals and investment portfolio managers with a Personal Multi Account Manager (PMAM).

Customer support via live chat is available in English, French, Spanish, Chinese, Japanese, Korean, and Farsi. Before you connect to an agent, you have to provide your name, email, and account number (if applicable), and choose a preferred language. Contracts for difference (CFDs) are derivatives used to speculate on the price of the underlying without physical delivery. For example, a long position on gold would generate a profit as the price rises or incur a loss as it falls.

This provides faster execution, more liquidity, as well as more accurate prices. STP (Straight Through Processing) execution does not include commission (the commission is within the limefx official site spread) and these types of trades are forwarded directly to liquidity providers. VIP members benefit from even better conditions – for instance, the spreads are tighter, around 1.4.

Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight. In our reviews, we examine the licenses and regulations of each entity operated by a broker. We rank licenses by various regulatory bodies on a three-tier system, where Tier-1 licensing indicates the highest level of regulation. We performed our tests on a No Commission account using the MetaTrader 4 desktop platform and its mobile app. Expert Advisors (EAs) are supported on the MetaTrader 4 platform, so automated trading is possible.

The lack of trading in equities and options besides the share CFDs might disappoint stock and options traders, although LimeFx might be suitable for traders who only want to trade in these markets. For a wider range of asset classes, you might want to look for a different online broker. I am really impressed with the variety of accounts and think it is very advantageous how you can choose depending on what matters the most to you, whether that be low spreads or no commission fee. I would personally be looking at the zero spread account as I use trading strategies that rely on low spreads at all times.