When making a deposit into your account with a credit card or debit card (Visa or MasterCard) there is a minimum of $50 per deposit and a limit of $30,000 per month for all Lime Fx clients. The CompareForexBrokers team created a trading platform selector so you can work out what trading software best matches your trading needs. I recommend you complete the short 5 step questionnaire which will help you determine your most suitable forex platform. When I opened my account with Lime Fx, I thought I had a good grasp of their fees. But, as I delved deeper into trading, I discovered that there’s more to it than meets the eye.
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However, the Active Trader account offers tiered commissions with potential savings for high-volume traders. The range of markets available with Lime Fx is quite broad however you can find other brokers that offer more choices for each financial instrument. 39 currency pairs, for example, would put Lime Fx at the lower end of the broker for currency choices. If you prefer social or copy trade, then Zulu Trader might be your preferred choice of the trading platform. This type of trading allows you to copy the trades of experienced traders, making it a great choice for beginner traders wanting to learn the trading strategies of successful traders. The feature gives users the ability of traders to share ideas and strategies and help other traders.
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With that said, most retail traders will only regularly trade a small selection of currency pairs. For that reason, I don’t mark brokers like Lime Fx too harshly for the more limited offering – as long as your preferred pairs are on the list, you should be fine. This also comes after the broker reduced its spreads by up to 54% on selected forex, stocks and other CFDs in 2022.
- Lime Fx offers customer support over live chat and email, the agents are quick to respond and knowledgeable.
- This type of trading allows you to copy the trades of experienced traders, making it a great choice for beginner traders wanting to learn the trading strategies of successful traders.
- When you purchase anything on Lime Fx, including Forex, Minors, Majors, Exotics, Indices, Energies, Metals, Bonds, or any other assets, you will be subject to Lime Fx spread fees.
- Our product testing extends to the quality and availability of educational content, market research resources, and the accessibility and capabilities of mobile platforms and trading apps.
Once the account balance reaches $0 and the Lime Fx inactivity applies, Lime Fx may close the trading account per its terms and conditions. Lime Fx offers a ‘forex simulator’ that provides traders with a realistic and risk-free environment to practice their trading strategies. The simulator is designed to replicate live market conditions and allows traders to execute trades, monitor price movements, and analyze their performance without risking actual capital. The minimum deposit for a live account is 50 of the account’s base currency, which is relatively low and attainable for both beginner and more experienced traders. Think about putting your money to work with a broker like Lime Fx that will let you buy and sell stocks and exchange-traded funds without charging you excessive Lime Fx commissions or other fees.
Lime Fx list statistic regarding their performance when it comes to execution and slippage. Transparency gives their clients a level of assurance and trust that the broker is meeting the client’s expectations when it comes to trading. Lime Fx to deliver on the client’s requirement of fast order execution with no slippage, competitive pricing and no re-quotes. If you are a high-volume investor, then the Active Trader account may be for you. This account offers Lime Fx’s lowest spreads with the added benefit of discounted commission, dedicated support, and depth of market. But when I started trading with Lime Fx, I quickly realized that understanding their fee structure was crucial to my success.
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- Lime Fx is especially proud of their own Trading Station II (not to be confused with another platform TradeStation).
- Joining Lime Fx is completely free, and new users automatically get a Lime Fx demo account with a $100,000 virtual currency balance.
- Lime Fx maintains a commission-free cost structure with a reasonable Forex fee starting from 0.8 pips or $8.00 per 1.0 standard round lot.
- Experienced Australian forex traders that require a very specific niche forex platform should consider Lime Fx.
This account offers leverage, faster execution, and lower fees with commissions based on trade volume. Discounts apply to major currency pairs like EUR/USD and GBP/USD, allowing traders to earn compensation from spreads, commissions, and rollovers. When trading live financial markets with Lime Fx traders must have a clear understanding of all Lime Fx commissions and fees. Commissions and fees are not standard across all trading platforms like Lime Fx; rather, Lime Fx fees may differ from other brokerage companies. Traders should consider the currency conversion fees, if applicable, of 150 pips on transactions below 10,000 currency units. Most deposits and withdrawals, except for bank wires, remain free of internal costs, but traders may face third-party processing levies.
Deposit & Withdrawal Currency Conversion Fees
With over 60 brokers reviewed, our editorial team has published thousands of words of research to help our readers make informed choices. The availability of MetaTrader 4, TradingView, an assortment of add-ons for algo trading, and its own proprietary platform Trading Station provides traders with excellent technical resources. Lime Fx offers forex trading signals to all clients (except clients who reside in the EU).
When trading, you will still need to meet initial margin requirements to open trading positions. This is Lime Fxs offering to all clients who don’t qualify as an Active Trader. This account is a commission-free account, which means the trading costs are included in the spreads. This explains why spreads are wider than commission-based accounts such as the Active Trader account. Lime Fx is considered a low-risk and can be summarised as trustworthy and reliable.
Spreads with Lime Fx’s active trader account are cheaper than they may appear when you compare with other brokers as Lime Fx offer lower commission fees. The overall lowest spreads are offered by IC Markets in our head-to-head comparison. New traders may appreciate a standard style account, as no commissions mean a simpler cost structure. Long-term or discretionary traders limefx review may also like this account as the simpler cost structure compared to a commission account can make trading easier. The Lime Fx Standard Account has a minimum requirement of $50 (depending on payment method) when making an account deposit.
Lime Fx is well-suited for beginners, providing comprehensive educational materials and user-friendly platforms. That said, there is some room for improvement and the overall educational offering still trails some industry leaders in this category. Our research led us to highly recommend Lime Fx for those interested in forex and CFD trading due to its advanced platform offerings and favorable overall experience.
Trading Platforms
The Lime Fx Professional Account is designed for expert traders and is available under CySEC, FCA, and ASIC regulations. It offers access to a wide range of markets, including Forex, commodities, indices, stocks, and cryptocurrencies, totaling over 100 assets. Traders who deposit into an incorrect bank account will pay an administration fee of 50 units of the account base currency or JPY 5,000. Lime Fx refers to any bank account of another Lime Fx client or a non-segregated Lime Fx bank account while the client remains designated as a trader with a segregated bank account. Lime Fx’s Standard account is commission-free, with costs embedded in the spreads.
Lime Fx offers competitive trading fees, including low spreads of 0.6 pips on popular currency pairs like AUD/USD. The brokerage also cut its trading fees by up to 54% in 2022, bringing it in line with other low-cost forex brokers. Lime Fx is a global broker founded in 1999 that specializes in online Forex trading, and CFDs. They provide tools for easy trading, like mobile access and quick order execution.
While not a deal breaker, there is an inactivity https://limefx.name/ fee charged to dormant accounts after 12 months of inactivity. The fee is up to 50 units of the currency your account is denominated in or the balance of your account, depending on which is less. This level of regulatory scrutiny brings stringent requirements and compliance checks, ensuring that UK and Australian traders in particular will be well covered.
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