IC Markets is considered Trusted, with an overall Trust Score of 84 out of 99. Other costs traders must consider are swap rates on leveraged overnight positions. One of the benefits of trading Forex is leverage, which means borrowing funds from the broker to manage more significant trading positions. It incurs financing costs, known as swap rates, and the longer a trade remains open, the higher the fees.
Customer Support
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 limefx official site options, and for those located outside Australia and the EU, cTrader is also an option. The forex markets exist as spot markets, as well as derivatives markets, offering forwards, futures, options, and currency swaps.
LimeFx Demo Account
This unit remains registered as an international business company (IBC) with St. Vincent and the Grenadines Financial Services Authority (FSA), but brokers remain unregulated in that country. Traders should not confuse this setup, as all brokers out of St. Vincent and the Grenadines are unregulated. Clients must rely solely on the reputation of LimeFx, as no additional measures exist to ensure client protection, as available and implemented by other brokers. LimeFx offers traders a straightforward and efficient process for deposits and withdrawals, emphasizing transparency and convenience.
Review Methodology
Our LimeFx review found this Forex broker has good trading platforms, a wide range of CFD markets as well as fast execution speeds. 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. London Capital Group (LCG), founded in 1996, has continued to keep pace in the highly competitive online brokerage space.
LimeFx has a low minimum deposit and offers a range of fee-free deposit and withdrawal methods. Still, LimeFx secured the 10th spot among 20 brokers, confirming it as a broker with effective execution speeds. Our ranking process includes detailed testing of execution speeds in different trading situations to guarantee the precision and dependability of our results. LimeFx offers an extensive range of over 10,000 tradeable products across various asset classes including forex, cryptocurrencies, stocks, indices, ETFs, commodities, bonds, and metals. All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Generative AI tools are not a part of our content creation or product testing processes.
Justin has published over 100 finance articles from Forbes, Kiplinger to Finance Magnates. He has a Masters and Commerce degree and has an active role in the fintech community. Established in 2005 in Sydney, Australia, LimeFx has a strong reputation in European and Australian markets despite a moderate monthly search volume of 27,100.
They include bank wires, credit/debit cards, online payment processors, and cryptocurrencies. Clients may access all available options from their back office, where LimeFx lists all payment processors transparently. The availability depends on the country of residence, and not all traders may have access to all payment processors. Besides the build-in MT4 copy trading functionality, LimeFx partnered with Myfxbook Autotrade, also available from within the MT4 trading platform. The most recent expansion includes a proprietary copy trading service, LimeFx Copy Trading. VPS hosting is available, but minimum requirements exist to receive it free of charge.
They are ideal for monitoring portfolios on the go, managing existing positions, and copy trading. Given the relatively small screen, mobile apps are best for portfolio management rather than complex trade analysis, but MT4, MT5, and cTrader offer advanced, technical, analytical suites. None support algorithmic trading, only available on the desktop versions of MT4/MT5 but included in the cTrader web-based platform. Founded in 2005, LimeFx is an experienced broker with a clean track record. Therefore, traders can rest assured that their deposits, segregated from corporate funds, are safe. The NDD execution model allows for conflict-free trade execution, and external financial audits exist, but LimeFx does not provide details about the auditor.
It provides essential trading features and tools, ensuring a smooth trading 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. LimeFx has low spreads and is regulated with ASIC, CySEC and FSCA.
Overall, LimeFx is a transparent and trustworthy broker, one of the best out of Australia, and highly competitive globally. LimeFx offers a range of value-added services, consisting of VPS hosting for automated trading solutions, the MT4 Myfxbook service for copy trading, and the MT4 MAM/PAMM module for retail account management. 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. Investing in social trading represents an intelligent management decision and shows a fluid broker seeking to offer the best services to clients.
- LimeFx shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader platform.
- LimeFx strives to provide valuable educational and research resources to its traders, although there is room for further enhancement and expansion in comparison to certain industry leaders.
- Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.
- With a commitment to both novice and seasoned traders, LimeFx offers educational resources and customer service that enhance the trading experience.
- We have conducted an in-depth review of this CFD broker to provide traders with a complete overview of the trading environment at LimeFx.
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. Mobile trading is widespread among millennial and GenZ traders, copy traders, and those from emerging and frontier Forex markets.
The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. LimeFx offers MetaTrader 4 (MT4), while Interactive Brokers does not. Forex traders also appreciate the ability to engage in social copy trading. It’s important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Beginner traders have access to quality educational content, in-house research, services provided by Trading Central, copy trading, and retail account management. All 4 LimeFx mobile apps are optimized for mobile phones and remain user-friendly.
For international deposits, LimeFx goes a step further by offering to cover internal bank fees. If a client submits a receipt showing an original deposit fee of no more than 50 USD, LimeFx will reimburse the international bank fees charged by the client’s bank for deposits over 10,000 USD. From advanced tools that facilitate automated and social trading to services that ensure the stability and efficiency of trade execution, these additional offerings cater to the diverse needs of traders.
The Iress trading platform, restricted by geographical location, focused on global equity trading, features numerous additional costs. They can total above $200 per month for low-frequency traders, but LimeFx has a program in place for active traders to receive reimbursement for most costs. While non-equity trading costs remain very competitive, equity trading tends toward the industry average. LimeFx delivers a very competitive commission-based alternative with raw spreads of 0.0 pips for a commission of $6.00 per round lot. Commodities, indices, and cryptocurrencies remain free of additional costs, which remain included in the markup.
LimeFx earns a top-notch rating in trust and safety due to its extensive regulation, comprehensive fraud prevention measures, and stringent client fund security protocols. Traders can have confidence in the broker’s commitment to maintaining a secure and trustworthy trading environment. In our Execution Speeds testing, LimeFx achieved market order speeds of 96ms, better than the industry’s 134ms average, although https://limefx.club/ its limit order speed was slower at 225ms. Outside of Australia and Europe, the online broker is regulated offshore in South Africa (FSCA), Seychelles (FSA), and Mauritius (FSC). LimeFx also offers an Islamic account, which doesn’t involve any swaps or interest on overnight positions to stay in line with Islamic principles. Rather, you’ll be charged a fee on positions, which is deducted from your account balance.
