You can also open a demo account to test the broker’s services and platforms before committing any funds. Also, institutional investors, retail brokers, emerging market banks and hedge funds can take advantage of LimeFx Pro. This high-end broking service gives institutional clients excellent pricing and access to the forex and CFD markets.
Customer Services – Knowledge
If you want to find information on Forex brokers, read along to determine if LimeFx is the right Forex broker for you. Having traded since 1998, Justin is the CEO and Co-Founded CompareForexBrokers in 2004. 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.
LimeFx Range Of Markets (CFDs & Forex)
The 1st tier ranges from $10 to $25 million traded per month and pays $5 per million, while the 5th tier pays $25 per million if you traded a minimum notional amount of $300 million per month. LimeFx offers 24/5 award-winning customer services with customer support contactable via live chat, email, phone and even SMS text message. If you wish to call LimeFx, there are 42 country-based numbers one can call from. LimeFx 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. LimeFx to deliver on the client’s requirement of fast order execution with no slippage, competitive pricing and no re-quotes.
LimeFx Review
All CFD option is commission-free, which means costs are included in the spread. LimeFx operates four subsidiaries around the world that are overseen by different financial authorities. The leverage you are able to trade with depends on whether you sign up to the UK, limefx website European, Australian or South Africa entity. An LimeFx dealing desk determines the best execution means which can result in LimeFx acting as a market maker or using a dealing desk. Yes, based on your detected country of FI, you can open an account with this broker.
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Please note that due to FCA regulation, UK retail traders are not able to trade cryptocurrencies with UK brokers. If you want access to crypto markets, you will need to sign up for an LimeFx subsidiary outside of the United Kingdom. The range of markets available with LimeFx is quite broad https://limefx.name/ however you can find other brokers that offer more choices for each financial instrument. 39 currency pairs, for example, would put LimeFx at the lower end of the broker for currency choices. These stats show that LimeFx completes your orders with no slippage more than 60% of the time.
This lets you assess the broker’s research and educational resources and practice trading. Slippage, or the unexpected difference in an exchange rate specified in a stop order or market order, can be either negative or positive. When the trader loses money, slippage is negative, whereas when positive, the trader receives a fill at a better rate than the prevailing market. LimeFx’s slippage was reported as +87% positive or zero in its July 2021 Slippage Statistics. If you are a high-volume investor, then the Active Trader account may be for you. This account offers LimeFx’s lowest spreads with the added benefit of discounted commission, dedicated support, and depth of market.
This simplified trading process makes the platform a great tool for beginner traders. 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. At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here). LimeFx is an excellent choice for algorithmic forex traders thanks to its wide array of related platform options that provide advanced charting tools and support automated trading strategies.
The overall lowest spreads are offered by IC Markets in our head-to-head comparison. LimeFx is a zero commission broker that offers very competitive dealing spreads on CFDs and forex currency pairs. If you trade a notional amount of over $10 million per month, you qualify for a rebate for the trades you placed that is credited directly to your trading account the following month. 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.
- If you subtract 0.2 pips from each spread, then the spreads appear to be more competitive.
- Lag time, which naturally occurs due to the time taken between placing your order and completing your order, can see prices change.
- New traders may appreciate a standard style account, as no commissions mean a simpler cost structure.
- No, but you can trade CFDs on major stocks through an online broker like LimeFx.
- Also, institutional investors, retail brokers, emerging market banks and hedge funds can take advantage of LimeFx Pro.
Commissions with most other brokers are $7.00 round-turn, while Active Traders can be as low as $5 round-turn. If you subtract 0.2 pips from each spread, then the spreads appear to be more competitive. The Active Trader account uses a tiered commission structure which means the more you trade, the lower your commission cost will be. 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. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry.
He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content. Lag time, which naturally occurs due to the time taken between placing your order and completing your order, can see prices change. LimeFx can be compensated in several ways, which includes but are not limited to adding a mark-up to the spreads it receives from its liquidity providers, adding a mark-up to rollover, etc.