Multiple times, we asked questions regarding things such as deposit options and broker regulations, and we were met with a long pause, followed by less than sufficient answers. But, even for simple questions, we didn’t find the customer service options limefx scammers impressive. If you’d like to trade stock market indices, pick from one of ten major global indices. These include the SP500, Nasdaq, French CAC40, and Australian SPI 200. It is a similar story for credit card deposits, which seemed only to be available for certain countries, VISA for example appears only available for clients in the EU – very odd.
Lime FxFX also offers the chance to trade energy products like Texas Crude, Brent Crude, and Natural Gas. Saint Lucia allows companies to self-regulate as long as they comply with the country’s laws. This means clients with Lime FxMarkets don’t have any form of regulatory protection so you can only trust Lime FxFX operations meet the standards you would hope. As this subsidiary is not regulated, Lime FxMarkets can be called an offshore broker. Another thing we should note is that in the case of Lime FxFX, we assume the spreads haven’t been widened. If they have, then this would be akin to an administration fee however it is difficult to prove if Lime FxFX is doing this.
Lime FxFx Copy Trading
Use our country selector tool to view available brokers in your country. Our expert guides and analysis have everything you need to hit the ground running. Bitcoin and cryptocurrencies can be traded on Lime FxFx but not bought outrightly. With a rating of 4.4 out of 5 after 3.9K+ reviews, the company reputation speaks for itself regarding legitimacy concerns.
- VT Markets is a multi-regulated CFD broker based in Saint Vincent and the Grenadines that offers multiple trading instruments.
- Regarding education, there are platform tutorial videos and a basic forex trading course, which would probably be okay for absolute newbie traders.
- Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time.
- Dear Jag Prabha Rajesh, Thank you for your loyalty and for taking the time to share your positive experience with Lime Fx.
- We truly appreciate your suggestions regarding spreads during news releases and the variety of account types.
Further researching the deposit options, we concluded that bank transfers and credit cards were entirely off the table for Australian traders trying to get funds into their limefx accounts. And more than likely, it’s a no-go for wherever you may be located. Lime FxFX Best Forex Demo Accounts are available with MT4 and MT5 and have no time restriction on the trial period.
Lime FxFx Customer Support
Research tools provided by Lime FxFX include a well-detailed economic calendar which keeps you updated with all significant economic events and how they may impact you. It also provides for detailed analysis with market reports and more to offer. Overall, this is an excellent hybrid combination that can secure the best market prices, lowest spreads, and fastest trade execution. In some places, you will also be allowed to make deposits through Bitcoin. In terms of the time it takes, wire transfers can take 3-7 business days to complete, while the other deposit methods are all typically instant.
I would say this is a good stock trading platform for those of you who are looking for something more than just forex. MT5 is available on desktop (Windows / Mac), web and mobile (iPhone / iPad / Android / Tablet). The social and copy trading experience, hedging, scalping and the option of swap-free accounts are welcoming features offered by Lime FxFx. Again, the provision of standard demo accounts helps clients learn trading and key trading techniques without fear of loss or risk to real funds. The demo account helps them boost their trading confidence before going live. Deposits made to trading accounts must therefore be made from bank accounts in your name only.
What Leverage Does Lime FxFX Offer?
We can only trust they are not since spreads are generally decent. You will also find trading available with micro lots, mini lots, and standard lots with the spread variable or floating. We should also mention you shouldn’t get requotes or rejections since market execution rather than instant execution is used.
There is also an availability of multiple trading tools and indicators, which serves to enhance clients’ trading experience and help them trade confidently. The company, besides featuring a full fledged FAQs section to help clients find answers to their queries on an immediate basis, offers multilingual customer support 24 hours 7 days a week. Dear Bhavikkumar Anandbhai Moniya,Thank you for being a loyal client of Lime Fx for the past two years and for sharing your fantastic experience with us.
As with any broker or service, no matter how excellent they are, and popular they become, there will always be a few areas to improve on.
The Best Broker out there
For Lime FxFX this includes the fact that they have only a limited number of assets available to trade in. We always recommend you trade with an appropriately regulated broker, with this in mind Lime FxFX is an option if you are based in the European Union where CySEC regulates them. If you are outside this region, we can’t fully recommend Lime FxFX as you will be trading with their subsidiary based in Saint Lucia where they only need to register as a company.
Here, if you have a USD base currency account, you can opt for fixed spreads that start at 2 pips on certain forex pairs. This is provided both through their own dedicated copy trading platform and a mobile trading app for on the go trading. You can choose to either be a copier, or a “Master Trader” where others will copy you and you will earn a commission. We found the trading platforms offered by Lime FxFX to be sufficient. As long as a broker has MT4 and MT5 it should be more than enough for most retail traders.
These are all useful and important tools to utilize for any forex trader on all platforms and brokers. The spreads here start at an extremely competitive 0 pips with $5 per side per lot of commission, or from as low as 0.2 pips with no commission depending on your account type. The only exceptions here may be in the case of your deposit not matching the base currency on your account, you would then have to pay a conversion fee. Your bank may also charge you a commission or fee on wire transfers, though there is no fee directly from the broker.
With this in mind, the demo accounts are effectively a practice account. You can use all features including all the trading products available for trade and Expert Advisors for automation. Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets. 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.
We think it is odd that Lime FxFX does not have an email or phone contact and we thought their live chat could be more knowledgeable. This wasn’t good, and we’d like to see Lime FxFX improve greatly in this department. We tried to go through the process of opening and funding an account as an Australian resident (where we are located). On the plus side, the company has been around since 2011 and seems to have plenty of positive reviews across the internet. Lime FxFX has a fair TrusPilot score of 4.5 out of 5 from 6,511 reviews as of this writing. Lime FxFX is also registered as a company in Saint Lucia, and its trading name is Lime FxMarkets.