I’ve also read much of the educational content and was struck by its bland delivery with long-form text and limited videos or engaging elements like quizzes, all of which could elevate the learning experience. LimeFX does slightly better with its educational content, which includes some basic e-books, articles, and a glossary of key terms. LimeFX’s limited research and technical analysis tools are disappointing, especially given how useful these tools can be for discovering trading opportunities. Placing a trade is a quick and straightforward affair that can be completed in a couple of clicks via the ‘Market Watch’ window or even more smoothly by turning on one-click trading. Besides the very frustrating withdrawal charge, LimeFX’s non-trading fees include a $5 inactivity fee charged after 120 days of dormancy.
Demo Account
Leverage limefx forex broker and margin allows forex traders to trade in amounts that are higher than the capital in their trading account. Forex traders, in effect, are borrowing a certain amount in leverage to cover the rest of the trading capital required to trade certain lots. The forex broker takes care of the leverage while the forex trader is left to put up his share in margin. Although the leverage and margin do not influence the profitability of the trade, they do magnify the amount of gains or losses a forex trader experiences in his trades.
However, not all currency pairs are as generously priced – GBP/USD trades with a 1-pip spread, which is more expensive than the average of around 0.3 pips at Fusion Markets, for example. The 70+ currency pairs provide a wider range than many competitors. However, some FX specialists like Forex.com offer thousands of additional instruments, so it’s disappointing to find just 27 non-forex assets on the LimeFX platform. LimeFX’s investment offering is excellent for forex traders but weak in other departments. For example, if 1 lot of EUR/USD is opened and the market moves 100 pips in the traders favor, then the profit would be $1000 (10USD x 100 pips).
Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. 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. The broker supports the popular MetaTrader 4 trading platform with multiple terminal capabilities and a multi-account manager. You can also access the LimeFX MT4 platforms on Android and iOS smartphones and tablets.
Increase capital efficiency
- I rank trading costs among the most defining aspects when evaluating an exchange, as they directly impact profitability.
- New traders should start with the eight Forex Basics articles.
- Above all, our experts assess whether a broker is trustworthy, taking into account their regulatory credentials, account safeguards, and reputation in the industry.
- It’s a good broker for intraday trading because trading conditions allow to earn on every move.
- A thorough, detailed, forex trading strategy, underpinned by a concrete trading plan, is one of the cornerstones of trading success.
LimeFX transparently provides all necessary information on its website. There are no deposit fees, but several withdrawals face internal charges while third-party processor costs may also apply. Customer support is available 24/5 via e-mail, webform, phone, fax, and live chat. The FAQ section answers many of the most common questions, and LimeFX is transparent about its products and services. Most traders are unlikely to require additional assistance unless of an emergency.
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LimeFX employs an electronic communications network/straight-through processing (ECN/STP) model, so you get tight forex dealing spreads from top Interbank liquidity providers. The diversity of financial instruments which this company offers to customers is really huge. They have been running the business for over 14 years, so it seems they managed to add a lot of instruments for all this time. I like how tight spreads they provide on the forex market and the spreads are even more tighter than from other major and famous brokers. The technical support is good and it is noticeable that there are competent guys working.
However, if the market went opposed to the trades favor, the loss would be $1000. Your trading style will greatly dictate your use of leverage and margin. Use limefx a well thought out forex trading strategy, prudent use of trading stops and limits and effective money management.
Prior to his role at Benzinga, Luke has held positions that have honed his skills in leadership and strategic decision-making. Maybe one of the reliable brokers I’ve worked with, and I’ve worked with a bunch of them already. It’s good to know that your funds are safe and sound while you trade. Because I get enough stress at trading, so I don’t need it outside of it. It’s a good broker for intraday trading because trading conditions allow to earn on every move. For example, the EUR/USD currency pair is the most liquid currency pair in the forex market, so it generally has the tightest dealing spread.