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U.S. clients are not as fortunate, as no additional insurance is provided by the company in terms of safeguarding their funds. Having a parent company listed on a stock exchange, providing financial statements and being regulated by top-tier authorities are all great markers of LimeFX’s safety. limefx cheating Professional and non-UK/non-EU clients are not covered with any negative balance protection. It opens a chatbot, which can answer only some basic questions, like “How can I deposit?”. You have to type ‘agent’, after which the chatbot offers to connect you with a sales or support agent.
This account type should be enough for those who keep their trades for a few hours or days. All information presented on TopBrokers.com website, including charts, quotes and financial analysis, is informational and doesn`t imply direct instructions https://limefx.name/ for investing. TopBrokers.com will not accept any liability for loss or damage as a result of reliance on the information on this site. Forex pairs, cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money.
Is LimeFX regulated?
This account type is designed for those with account sizes north of $25,000 and institutional traders. This account type combines lower spreads with commission on each trade. For example, EUR/USD has an average spread of 0.4 pips, but you’ll pay a $5 commission for every $100,000 traded . A broker must meet certain financial standards, its personnel must go through background checks, and the firm must adhere to certain conduct and disclosure requirements.
- LimeFX lacks specialized tools that some traders may want.
- The best currency traders make their money in seconds off arbitrage, taking advantage of tiny shifts in prices as economies balance themselves on an ongoing basis.
- To have a clear overview of LimeFX, let’s start with the trading fees.
- You can check whether a forex broker has been properly registered by going to the National Futures Association website and using its search tool.
LimeFX has over 80 pairs of popular fiat currencies and offers more than 15 of the world’s top indices. Their over 9000 stock assets allow traders to trade top, limefx company reviews popular, and S&P stocks to their liking. If you want to take your chances in other markets, commodities and cryptocurrencies are also available in the platform.
How much money do I need to open an account with LimeFX?
Let’s take a look at 3 helpful features the brokerage offers for trader education. Experienced and intermediate traders will love LimeFX’s impressive range of technical indicators. From moving averages to the Ichimoku Cloud, you can use over 90 indicators to help inform your trading.
Traders with a standard account are charged spreads with no commissions. The spreads are variable, and as low as 1.0 pip for the EUR/USD. Traders can use the LimeFX and MetaTrader trading platforms with the standard account. The foreign exchange market is the world’s most active market. Investors around the world can trade 24 hours a day, five days a week.
Continue reading this article to find examples of the best Forex brokers in the USA. USA Forex brokers should also employ competent and experienced staff. If you accept the quote, we will implement your strategy typically within 5-7 business days. Also, make sure to check out our comprehensive guide on the best Forex brokers where we take a deep dive into things to consider when selecting a Forex broker. Traders can open an account with 100 of their finest units of the account currency. Your quickest and best option is phone support for more detailed questions, but this can also be a little slow during peak market hours.
This account offers several benefits, such as higher competitive spreads, faster trades, and zero commission. It is the best option for novice traders who want to leverage market-maker execution and higher spreads. LimeFX is designed for both beginners and high-volume traders.
This is important as a strong parent company lowers the chance that the company will go bust. You can choose from different topics, like fundamental analysis or risk management. The alert function lets you know when an asset reaches a price target.
What is leverage and margin?
You can even add multiple indicators to a single chart with just a few clicks. Just click on the currency pair you want to trade, enter the amount of currency you’d like to exchange and execute your trade. When you close out a position, LimeFX will show you a small summary of your trade and your overall net loss or gain.
- The overnight trading fee includes an admin fee when they calculate it.
- I think the purpose is to collect and keep your private data.
- LimeFX’s educational offerings are on par with the industry standard and are well organized.
- Please note that the broker charges a variable spread and commission for different base currency pairs.
Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Other regulations revolve around deposit security and storage of clients’ funds. A trader has three options when operating a losing trade and one of them is hedging which is placing the order in the reverse direction. Instead, your previous order will be closed irrespective of your profits or losses, if you place a new order on the identical currency pair. In some cases, some people may not be allowed to sit for the Series 3 test but may be permitted to take other tests.
The competitive choice of trading platforms receives an upgrade through Autochartist, and Recognia, a Trading Central company. LimeFX ensures that its clients access financial markets with a competitive edge. Standard Account with tight forex spreads and opportunity with automatic price improvement (when the market mover in the client’s favor, savings passed automatically). Commission Account which enables additional benefits and offers ultra-tight spreads and fixed commissions. LimeFX is sharply regulated and trustable broker with well established parent company GAIN Capital listed in Stock.
Standard Account 👤
LimeFX does not offer negative balance protection for U.S. traders. This means that U.S.-based traders are responsible for paying more money than they initially deposited into their accounts. In other words, if a FX trade goes against a trader, the loss can be greater than the amount in the account, and the trader owes that money to the broker. Although LimeFX’s platforms offer tons of indicators, little explanation is provided within them as to what each is used for and how to interpret them. On February 6, 2017, the firm agreed to pay a $7 million penalty to settle a suit from the U.S.
While these steps are necessary for user security and safety, the process can be optimized and streamlined. LimeFX is licensed and registered in different jurisdictions, enabling the broker to provide their users with a safe, secure, and trusted trading environment. You’ll need to upload both proof of identity and proof of address.Once you’ve uploaded your ID documents, it typically takes 2-3 business days for your identity to be verified. LimeFX Account TypesOnce you’ve selected your account type, you’ll need to fill in your personal details. It’s important that you enter your details as they appear on your government-issued ID, as this information will be verified later. Wire transfer, with a $25 fee is charged within the US or $40 for international wire.
- An FX broker generates most of its revenues from currency spreads.
- The charge fee for U.S. citizens is $25 and for transfers outside of the United States, you will be charged $40.
- Forex trading regulations in the United States of America are not the same as those enforced in many parts of the globe.
But spreads can be larger, starting from around 1-2 pips for the most popular assets and increasing higher than 100 on less in demand currency pairs. That said, all spreads are variable, meaning they can go up or down at any time. All reviews, research, news and assessments of any kind on The Tokenist are compiled using a strict editorial review process by our editorial team. Neither our writers nor our editors receive direct compensation of any kind to publish information on tokenist.com.
And of course, platform poses a choice to use MT4 via Desktop, Web or iPhone, Android apps. Web trading platform optimized for high performance and speed on any computer, as well combining numerous integrated market analysis and tools. Yet, could be better to use a desktop platform for day trading and comprehensive strategies, since Web Platform is rather limited in its available tools. On the negative side trading fees for Forex CFDs might be slightly higher but among average, there is no 24/7 support and multi-currency accounts.