The broker assures that residents of nearly all countries can open accounts. Then, the system will copy trades based on the original strategy to the customer’s account, charging a percentage as a commission for the strategy manager. The information about IPO is updated regularly on the website and the customers have access to purchase shares before they are in free circulation at the exchange. Forex and CFD trading is a well-formed offer for the customers of Lime Fx.
They also ensure traders get a straightforward trading environment. Lime Fx is a front-runner among the diverse online brokerages on the market. The broker is ideal for traders seeking an uncomplicated, user-friendly platform for seamless trade execution. It’s not packed with complicated features, making it less daunting for beginners. Cost-conscious traders would appreciate its competitive spreads, reflecting the broker’s commitment to affordability. At the time this review was being prepared, there was only one promo offer.
So, if the broker fails to settle claims of investors or folds up, they are secured up to $500,000 and €20,000 correspondingly. Transfers in from one account – say the IRA – to the account are free.
For better understanding, let’s see how much a trader will have to pay for a $5,000 lot of US, UK and German stocks on the platforms of Lime Fx, Degiro and Swissquote. They have a regulated fee that doesn’t exploit the registered users. The desktop trading platform makes use of images, pins, and phrases for better security of the user and its information.
- However, this idea is unlikely to work, because if the broker detects such ‘maneuver’, it can charge additional commission on transfers between accounts.
- If you leave your account unused over a long period, Lime Fx will charge an inactivity fee.
- This is due to the fact that at the time this review was being prepared Pfizer announced production of a Coronavirus vaccine, which is why its securities grew over 6% a day.
- Prior to making any decisions, carefully assess your financial situation and determine whether you can afford the potential risk of losing your money.
Our review indicates that the brokerage and its trading platforms feature a host of market analysis tools to trade. There also are a host of educational, research, and news resources to help both beginner and expert traders understand and navigate the stock markets. Also, inside the personal account, customers can transfer funds from one trading account to another. Therefore, customers can choose the best suitable way to fund the account, and then transfer the money to another account type.
On its website, claims to have integrated modern technologies into its wide range of brokerage services to bring about a low priced as well as “fresh and native” trading experience. Lime Fx ensures its traders have a robust set of tools at their disposal. The broker also offers a range of trading platforms, like the renowned MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
Markets and products
There is exhaustive information about the restrictions on the website of the Cyprus regulator, as the source. At the time when this review was being prepared, citizens of 30 European countries could open an account with the broker. The low minimum deposit is the broker’s advantage over such competitors as Swissquote. The procedure of opening an account on Lime Fx is classic and similar to other brokers with regulation in Europe. Also, the broker allows the address registration stamp in a national passport as proof of residence. This is relevant for the citizens of the countries, where address registration is mandatory by the law.
I was also disappointed in the platform’s lack of research tools. In the United States is licensed and regulated by both the Commodity Futures Trading Commission and National Futures Association(NFA). The discount broker is also a member of the Securities Investor Protection Corporation (SIPC) that insures the investor funds deposited with Lime Fx for up to $500,000. The discount broker further provides limited ETF-related educational and research reports. In essence, Lime Fx has a deposit and withdrawal structure prioritizing efficiency with no hidden costs.
Is Lime Fx Good For Day Trading?
After you open an account, you cannot change the base currency, but it is possible to open an additional account limefx reviews in a different currency. Before starting the procedure of account opening, you need to provide basic information (phone number, email, and full name). Robo-advisor is a service for automatic composition of an investment portfolio.
Documents required for opening an account
In other words, Lime Fx is for the pragmatic trader seeking simplicity and efficiency. Voice support in Chinese, Polish, Spanish operates regularly, during working hours on weekdays, taking into account the region’s time zone. For the customers, who prefer to work via email, there are 4 subscriptions depending on the markets and frequency of newsletters.
Lime Fx offers a free demo account with up to $1 million in virtual funds on the online and mobile platforms. After you sign up, you can use the Lime Fx login page to start investing with simulated funds. All deposits are free with the MT5 Global and Standard accounts, except Alph-bank which charges a 2.5% commission. ECN accounts incur a 2.25% to 3% commission; Trustly and UnionPay are free to use. As for speed, most transfers are instant, with bank wire limefx courses scam taking 2-5 business days.
Swaps on Forex
Deposits are processed within one business day while withdrawals can take up to 3 days. For investors who want to trade on the go, Lime Fx provides a seamless mobile trading experience with dedicated applications for Android and iOS devices. These apps enable traders to execute trades, analyze charts, and manage their accounts from anywhere. Details regarding futures trading fees are subject to verification, and potential traders should consult Lime Fx’s official platform for accurate, real-time information. Forex trading fees work using spreads to eliminate additional commissions or fees.
In this broker review, we vet its reliability and look at how trimmed trading costs have affected this deep discount broker’s effectiveness and competitiveness. Conditions of Lime Fx for holding marginal positions cannot be considered attractive for developed markets. Lime Fx is an experienced broker that provides a wide variety of services, products, and trading platforms. Lime Fx presents a broad market area comprising of a plethora of trading instruments, which includes stocks, ETFs, futures options, futures, bonds, and mutual funds as well. We offer impartial reviews of online brokers that are hand-written, edited and fact-checked by our research team, which spends thousands of hours each year assessing trading platforms.
