LimeFX Review 2024: Read Before You Trade
This is another area in which the broker really excels in my opinion. You will find that they have an excellent variety of convenient deposit and withdrawal methods to meet everyone’s needs. Some clients may find the online payment processors more convenient and faster. I personally use digital wallets as they allow me to move my funds around faster. This can be vital if there is a scenario where there is some major market news that I need to try and capitalise on.
Tradable Instruments
You should approach trading with realistic expectations, understanding that losses are inevitable and that success is a result of strategic resilience. An advisable approach when starting your forex trading journey is to cap your risk at 1% of your limefx total trading funds per trade. For example, with a trading capital of $500, a 1% risk means potential losses of $5. If you prefer a more risk-averse strategy, you might wish to consider reducing your risk to 0.5%. While losses are an inevitable part of the journey, limiting them ensures a smoother recovery.
How to start your trading journey
I thus found them quite useful for both beginners and experienced traders. You can use the filters of the calendar to search for events depending on their expected market impact. Live news feed helps traders stay on top of the latest market developments.
How long does it take to withdraw money from LimeFX?
Each idea underscores a currently unfolding trading setup – a bullish or bearish pattern, such as the ‘Engulfing Line (Bullish)’ shown below. What I found particularly useful is that it states for how long the idea can be applied before the underlying opportunity expires. Notesco Limited does not accept clients from the U.S., Cuba, Sudan, Syria, and North Korea. The clear advantage of this model of execution is that with it, you are guaranteed entry, in that your order request will eventually be filled once there is enough liquidity. However, the corresponding disadvantage is limefx scammers that you are exposed to price discrepancies in the form of negative slippage.
It asks for name, e-mail, phone number, country of residence and knowledge and experience. The application also asks traders to select their account type, base currency, followed by the desired password for the back office. LimeFX notes the availability of 80+ currency pairs, making it an ideal Forex broker. Traders also get 15+ commodity CFDs, 20+ index CFDs, 30+ futures, and 150+ equity CFDs.
- I was especially impressed with the market analysis and research tools.
- I like the trading fees in the LimeFX Absolute Zero account, where traders get commission-free spreads from 0.3 pips.
- The advanced trading technology incorporated ensures that the trading conditions are some of the best available with competitive spreads (fixed/variable) and competitive trading costs.
- He is a long-time active investor and engages in research on emerging markets like cryptocurrency.
- LimeFX offers seven retail account types and typically features low-to-medium cost structures.
LimeFX Customer Service
However, licenses obtained by regulators in different jurisdictions do not always entail the same degree of protection. Some regulators mandate compliance with the strictest financial frameworks, whereas others are less rigid. That is why traders need to familiarize themselves with the safety mechanisms ensured by the entity they want to open an account with beforehand. Although LimeFX lacks a proprietary trading platform and its Bermuda-based entity operates without regulation, I rate LimeFX as a decent broker that caters to the needs of its clients. LimeFX, a forex and CFD broker, serves over 1.5 million clients worldwide, providing access to more than 500 tradable instruments from various asset classes. The main goal of risk management is to minimize possible losses while maintaining the potential to generate revenue.
It is indispensable when you must swiftly adjust your open positions. I checked the usability of the mobile app version of MT4 by testing how long it would take me to do just that. In just a few seconds, I was able to log into my account, go to my open orders, and adjust the parameters (move the stop-loss) of a trade. However, any account that has been inactive for 90 days and has an account balance of up to 1 cent of any currency will be achieved.
I received a rather terse explanation that LimeFX averages speeds of under 50 milliseconds on most orders, without any further context. I had expected to learn more about the total number of trades that were tested over the previous year, the percentages of trades that resulted in positive and negative slippage, etc. You have your watchlists, indicators, and other tools on the left side of the window, a chart screen on the right, and account info at the bottom.