There is a very high degree of risk involved in trading securities. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs.
Lime Fx does not currently charge swap fees – the charge for holding leveraged positions overnight. In our tests for the Trust category, we also cover factors relating to stability and financial strength. Here, we focus on how long the broker has been in business, what is the company size, and how transparent the broker overall.
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Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables. The security of your funds – in terms of regulatory protection – will depend on which Lime Fx entity holds your account, and which –if any – relevant regulations provide customer protections.
Lime Fx (formerly Lime FxFX) offers a basic, low-cost MetaTrader platform experience alongside its proprietary web and social copy-trading platform. At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions. The demo account features live quotes and simulates live market conditions in assets such as forex and CFDs on commodities, indices, and stocks.
Use our country selector tool to view available brokers in your country. Lime Fx offers a swap-free Islamic account that adheres to the principles of Sharia law. Available leverage differs according to the asset class, with the most leverage available with CFDs on forex and the least with CFDs on shares.
Is Lime Fx a good broker?
Sharpen your skills with a practice account and learn from our educational resources. Our special feature protects your positions from sudden market ups and downs, helping you avoid or delay stop outs. Choose a payment method that works for you and get instant approval for your withdrawal requests.
- Lime Fx also made a significant step forward since my last review by adding 150 CFDs on shares from 16 global stock exchanges.
- The score for this category was weighed down because only one base currency is available (USD) and there is no option for a raw spreads account.
- There is a very high degree of risk involved in trading securities.
- The demo account features live quotes and simulates live market conditions in assets such as forex and CFDs on commodities, indices, and stocks.
I appreciated that it has begun producing videos on advanced topics, such as Elliot Wave trading. Lime Fx does have a proprietary app for social copy trading (the Lime Fx Copytrading app), yet it still trails behind industry leaders such as IG and Saxo. Check out my picks for the best mobile trading apps in the industry.
Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry. The education section on the Lime Fx website is well thought out, clearly presented, and made for different levels of traders – beginners, intermediate, and experienced. Material includes live trading sessions, workshops, and trading strategy-themed presentations.
Lime Fx offers barely 277 tradeable instruments, which varies by platform, with the most on its MT5 offering. By comparison, industry leaders Saxo, IG, and CMC Markets all offer over 10,000 tradeable instruments. Demo accounts are especially important for beginners as they allow them to practice their strategies and get comfortable with the trading platform without risking real money. Trading costs such as spreads are clearly explained on the Spreads and Conditions page. To read the fine print, traders can find the Customer Agreement in the footer of the website. The About Us page does a good job of sharing the company’s mission and history through a series of milestones over the years.
Once users have gotten up to speed on a demo account, they can easily switch to a live version. The EU entity limefx scam of Lime Fx clearly states its regulatory status in the website’s footer. The offshore entity also references its corporate registration number with the Saint Lucia authorities at the bottom of each page. However, there is room for improvement in terms of being clear about the unregulated status of the offshore entity.
How can I open an account with Lime Fx?
Read our limefx reviews full explanation and accounting of our research and testing process to learn more about how we test.
Features like its trading glossary, platform tutorials, and dozens of Frequently Asked Questions (FAQs) help to flesh out Lime Fx’s educational offering. That being said, there isn’t much educational content for learning how to trade or understand market dynamics. It’s worth mentioning that the broker does have a blog and a YouTube channel, yet I was still left wanting more. Lime Fx has made great strides with its pricing options for traders and its educational content, but suffers from a limited range of tradeable instruments. Lime Fx has competitive spreads in some instruments such as EUR/USD and impressive research written by in-house analysts. Moreover, Lime Fx is a crypto-friendly broker – traders can choose from 34 CFDs on cryptocurrencies and make deposits and withdrawals in crypto.
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To change the language of the MT5 app, you must change the language for your entire phone. As with the desktop and web platforms, the interface is not highly intuitive, but the MT5 app offers an above-average range of features. The trust score came in low, largely because the Lime Fx Markets Inc. entity is unregulated. However, the European entity of Lime Fx is regulated by the top-tier Cyprus Securities and Exchange Commission (CySEC). According to the broker’s website, clients have negative balance protection, and client funds are segregated from the company’s operating funds.