You can set your parameters for a ‘buy’ or ‘sell’ based on your analysis. At this point it is important to take note of some key features of the LimeFX Web Trading platform when trading the Bitcoin. Starting from the left side of the screen, you should run a check on things, select the instrument from the ‘filter’ drop box, the right side of the screen is the chart display.
- Retail, professional accounts offer access to over 1,250+ financial instruments across the LimeFX propriety web-based platform, MetaTrader 4 and MetaTrader 5.
- This is considered a lifetime for the relatively new online trading industry and some might say that this makes us a grandfather to this industry.
- Any trade that is kept open for more than 24 hours is required to pay a rollover fee.
- LimeFX offers clients access to trade on more than 1,250+ financial instruments covering Forex, CFDs for Stocks, Bonds, Commodities, Cryptocurrencies, Indices, ETFs, and FX Options.
- The app is the most popular choice for beginner traders and is supported on all devices.
- FXGears.com hosts and moderates our chatroom, and runs Volatility.RED as a resource site for traders.
They can register Islamic Account, Standard Account, or Professional Account. The trading conditions are different for each of the accounts, as well as fees. For instance, for the Islamic account, there are different fee structures compared to Standard and Professional accounts. LimeFX offers users access to several mobile apps for clients who would like access to their account on the go. Users can choose from LimeFXGO or the MetaTrader 4 app, both of which can be found on the Google Playstore and Apple AppStore.
Full Review Of LimeFXs Bitcoin Trading Platform
The spread can be high at certain times – the spread is the difference between the “Buy” and “Sell” price and it’s what you need to beat in order to make a profit. Free demo account – So you can practice before putting your money on the line. Simple user face with powerful functionality which helps new users understand and implement their trades easily. Users can click register from the websites home page to sign up using their name, email, and contact number. Following this, users will be prompted to fill in a registration form, verify their identity and address with the relevant documents, and have the option to fund their account. The layout of the website is significantly better as well, and you have a bit more control over handling cash in your accounts.
For IC Markets, they offer tight spreads, however, a commission of $7USD commission per lot. The process begins with the trader signing up for an account with the broker , and this will take between 2 – 3 minutes of your time. Setting up your first trade on LimeFX shouldn’t be much of a task. You need to have behind your mind the simple notion that you’ll make limefx forex brokers reviews money on the differences between the price at which you buy and selling price . If you have difficulties in understanding how leverage works or if you prefer to take smaller risks, you can still buy contracts equal in value to your bankroll. This way you don’t risk a forced sell if the value crashes and you’re able to keep your Bitcoins as long as you want.
Funds can be deposited into a trading account via credit/debit cards, bank wire, and e-wallets such as Neteller, Skrill, PayPal, Web Money and others. Below is a screenshot of the proprietary LimeFX Web Trader platform which is covered in more detail in the video review. Considering the initial example of $1,000 for one Bitcoin and the account size of $1,000 you can simply buy a contract for only one Bitcoin. This way you cannot risk to have your position closed in case the Bitcoin falls in value for a while.
Select from a range of different strategy providers based on individual trading methods and styles. The authorisations and regulations can be confirmed on the regulator’s website, as shown in the screenshot below for LimeFX EU Limited, authorised and regulated by the Central Bank of Ireland. Spread may vary for different currencies, so it depends on what you trade. Unless you’re already a member and enjoying our service, then just sign in.
Great Broker, withdrawal is normally processed in a very short time frame, usually 3 to 4 business days for wire transfer. If you correctly predict the direction of the price you will make much higher profits when using leverage. If the price moves against you, your loss is higher, and you can even lose your entire investment and be forced to close your position by a margin call. The broker reserves the right to automatically sell your contract if the loss equals the amount of money you have in your account. I recommend the use of leverage only for people who are very well aware of how these instruments work and have experience in forex or CFD trading.
IC are a bigger name in the industry, offering more products, as well as regular webinars which are quit informative. I’m currently looking for brokers to start my trading journey and I’ve been suggested LimeFX to start with instead of other names like LimeFX or IC Markets. The image below depicts the LimeFXs’ Web Trading platform and its basic features.
I think it really depends on which pair of currency you are trading. You might want to open a demo account for both brokers and see the spread for the pairs you will be trading most of the time. When starting trading with the LimeFX broker, the clients can choose between the three major account types.
Furthermore, we adhere to the regulatory requirements of 7 global regions – from North America through to Europe and South Africa to Asia, including the hard-to-crack Chinese market. That makes us one of the most highly regulated brokers you are likely to come across. The reviews featured on third-party sites attest to this and to the ethos we stand for, which is integrity and client satisfaction. LimeFX clients with funded accounts have access to Trading Central where Analyst Views, Forex Ideas, Market Buzz, and an Economic calendar can be accessed. This is useful to clients who may want to see market view from others, see the most popular news in real-time and those who like a professional’s opinion on select markets.
LimeFX Review Scores
You can simply sell the CFD contract and you will make profits from the decrease in value. This is called “short selling” in financial jargon and is often used by investment funds when the markets are falling. If the Bitcoinís market price is $1,000 and you have $1,000 in your LimeFX account, you are able to buy or sell a contract of maximum 10 Bitcoins (the contract is worth $10,000). In a regular Bitcoin Exchange you are able to buy only one Bitcoin with $1,000, but at LimeFX you can buy a contract for 10 Bitcoins with the same amount.
In addition to its own proprietary platform web-trader, LimeFX offers the globally recognised platforms MetaTrader 4 and MetaTrader 5 to all clients. In addition, for options trading, users can access LimeFXGO, AvaOptions and AvaSocial, for those interested in automated trading can use DupliTrade and ZuluTrade. LimeFX offers clients access to trade on more than 1,250+ financial instruments covering Forex, CFDs for Stocks, Bonds, Commodities, Cryptocurrencies, Indices, ETFs, and FX Options. The other two platforms, on the other hand, LimeFXGo and AvaSocial are exclusive terminals designed specifically for LimeFX customers.
LimeFX offers a great range of customer support options via access to a multilingual customer service team available 24/5 contactable through email, phone and live chat. Detailed questions and answers can also be found through the FAQ & Help Centre. Jitan is a currency trader and an accredited Market Technician with more than 15 years of experience working with fund managers and on several proprietary trading floors. He is regularly quoted in the financial media for his currency market insights and forecasts and is based in London.
To withdraw funds users must ensure their account has been verified and confirmed in order to comply with the requirements of regulatory bodies and KYC. Provided that this is done, users can expect their withdrawals to be complete within hours. Trading costs such as spreads, commissions and overnight funding rates vary depending on the account type opened and instrument being traded and are covered further down this review. Listings that appear on this page and/or on this website are of products / companies / services from which this website may receive compensation.
This may impact how, where and which products / companies / services we review and write about. This page may not include all available products, all companies or all services. IC have 2x account types, raw spread, with is $7usd per lot, however sometimes down to 0 spread on EURUSD. LimeFX has also recently launched AvaSocial – an app which allows its users to learn and connect to expert traders from all over the globe. Users can follow, and copy trades as well as ask questions to relevant mentors and groups. A wide selection of platforms for every type of trader including MT4/MT5.
Users can choose to open several different account types – Retail, Professional, Spread betting and Options. The differences are discussed in the account opening section below. Retail, professional accounts offer access to over 1,250+ financial instruments across the LimeFX propriety web-based platform, MetaTrader 4 and MetaTrader 5. Additional platforms include DupliTrade, LimeFXGo, AvaOptions and AvaSocial, all of which are discussed further down this review. LimeFX is famous for its diverse financial instruments portfolio that includes several markets.
On the other hand, such interest rates are primarily against the Riba principles of Sharia law, which makes trading not desirable for the Muslim community. Therefore, LimeFX opinion produced an Islamic account that frees the traders from rollover fees or swaps on their daily traders. Canadian users can also access LimeFX services through Friedberg Direct – a Canadian based broker. Here you can converse about trading ideas, strategies, trading psychology, and nearly everything in between!
The traders who join the Forex Affiliate Partnership of LimeFX review the whole library of the sources dedicated to marketing and other educational materials. Furthermore, each affiliate has a dedicated account manager to assist and support him or her throughout the program. The broker offers flexible commission structures that include CPA, Revenue share or trade rebates, and Hybrid deals. From Currency market our observations, LimeFX offers a very competitive service to clients who would like to access a broad spectrum of markets and asset classes. With over 1000+ instruments and multiple platforms to trade them on LimeFX would suit most trader’s needs. This is considered a lifetime for the relatively new online trading industry and some might say that this makes us a grandfather to this industry.
Reviews On LimeFX? Serious Opinion Needed
First of all, the broker requires that you have sufficient trading activity throughout the past 12 months with LimeFX. Meaning that the trader should have carried out transactions in significant size at an average frequency of 10 per quarter. The markets eligible are leveraged CFDs, Forex, or Spread betting.
The primary advantage of the platform is a reduced risk of trading and simplicity of use. As for the AvaSocial, the main goal of the broker was to allow traders to share their trading experience on market. Forex platform It furthermore lets the users get knowledge and expertise from the industry-leading experts in the Forex industry. The app is the most popular choice for beginner traders and is supported on all devices.
Furthermore, the broker asks for the financial instrument portfolio exceeding 500,000 EUR, which includes both cash savings and financial instruments. The benefits of the account are the minimum margin requirements and the flexible leverage. LimeFX offers users multiple trading platforms to suit every type of trader.