While LimeFX offers sizable first deposit bonuses, that bonus money cannot be withdrawn. Also, pricing for most services is slightly higher or on a par with other major forex brokers. The lack of 2-tier platform authentication and guaranteed stop-losses could be a problem if your account gets hacked or your stop-loss gets filled in a volatile market. Join us and benefit from the award-winning trading conditions offered by a globally recognised and reliable forex broker.
The Premium Account is for traders who can afford to deposit at least $1,000. All base currencies can be registered and Premium Account holders will enjoy no commission on trades. Traders can deposit funds into their accounts via a wide range of payment methods, including traditional options such as bank wire and credit/debit cards. While credit card deposits are usually instant, transfers via bank wire may take up to 3 working days to appear in the trading account of the client. LimeFX processes payments in several different currencies and deposits in any other currency would be converted into the base currency of the client account. Accounts can be registered in USD, EUR, GBP, AUD, JPY, CHF, PLN, RUB, and HUF.
Multiple account types to choose from to suit your needs
However, stale and outdated information undermines the app’s enormous potential, with the most recent entries going back several years in some cases. The “Live Economic News” showed up to date reports, but “Live Currency Quotes” produced a dead link. The “Intraday Comment” section had a single 18-month old entry about the Eurozone. Today, after some weeks of intense trading on indices, I decided to withdraw my funds. The process was relatively easy and fast, maybe limefx scammers because of the understandable client portal interface.
If there was a better platform for my…
The payment method also comes with the PMA token, which is the means of value in the PumaPay system and works like most cryptocurrencies. With respect to data security, LimeFX uses standard data encryption, but it lacks 2-tier platform authentication and only requires a 1-time password for MT4. LimeFX opened for business in Cyprus in 2010 and has now expanded into more than 180 countries. In addition to EU regulation through the Cyprus Securities and Exchange Commission (CySEC), they are licensed as a registered investment firm in the United Kingdom, Australia, and South Africa.
- Accounts can be registered in USD, EUR, GBP, AUD, JPY, CHF, PLN, RUB, and HUF.
- Margin requirements on index CFDs are as low as 1%, which means that traders who have a capital of only $100 can control a $10,000 position.
- The STP/ECN Zero Spread is an ECN account and ECN stands for Electronic Communications Network.
- Prior to his role at Benzinga, Luke has held positions that have honed his skills in leadership and strategic decision-making.
- Social and copy trading options are limited, with no dedicated third-party platform.
- They round out their services with a variety of professional accounts, introducing broker (IB) branding and a portfolio management program.
Earlier in 2018, LimeFX announced a partnership with EmurgoHK to open a cryptocurrency exchange, but the launch date hasn’t been announced. If you are a new trader, I recommend you to consider LimeFX and its trading academy. Choose between Live and STP/ECN trading accounts, offering both floating and fixed limefx courses scam spreads.
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With this type of account, traders receive direct access to other participants in the market. The ECN broker manages to consolidate quotes from several participants, which is why spreads here start from 0.0 pips and are typically very tight. A commission is charged, however, because the broker needs to be compensated in some way. LimeFX offers several types of live and demo accounts, which means that traders can test the various features and functions of the different accounts without investing real money. Once they try the demo versions of the accounts, they can register an actual trading account. There are several different types they can choose from – accounts are either Live or STP/ECN.
The broker does not have a huge range of commodity markets but it offers trade on the most popular ones. Along with trade on spot metals and spot energy commodities, it also gives its clients the opportunity to trade commodity futures. Futures contracts allow traders to make a profit from the price margin before the closing date determined in the contract. CFDs on commodity futures are extremely flexible and convenient for traders compared to trading and owning the physical commodities themselves.
With it, clients have access to more than 200 financial instruments in Forex, shares, spot indices, spot metals, futures, and commodities. The platform is fully customizable and offers advanced charting and a wide range of indicators, as well as useful Activity Reports, and online streaming news. Things are different for silver and platinum – silver is still traded for industrial purposes, as platinum, which is also much rarer than silver or gold. LimeFX gives traders the opportunity to trade CFDs on these metals, as well as CFDs on palladium, a lustrous silvery-white metal that is extremely rare and mostly used in catalytic converters in cars. With tight spreads as low as 0.04 and 1% margin requirements, LimeFX offers its clients a great opportunity to profit from the global gold and silver markets. The spreads on platinum and palladium are, of course, higher since palladium is not only 30 times as rare as gold but also more valuable than gold.