We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables. Founded in 2011, LimeFX holds a regulatory license in Europe via its Cyprus-based entity – LimeFX Markets Cyprus Ltd – which is regulated by the Cyprus Securities and Exchange Commission (CySEC). Your account may be eligible for certain CySEC protections – in the extraordinary event of LimeFX Markets Cyprus Ltd.’s bankruptcy, for example, you’ll be protected for up to 20,000 euros from the Investor Compensation Fund (ICF). In South Africa, LimeFX provides financial services to clients through an intermediary, Orinoco Capital, which is licensed by the Financial Sector Conduct Authority (FSCA). It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs.
I was also pleased to see a risk score assigned to each trader, to help users differentiate between traders with historically conservative results versus those that have had more volatility and risk. It would be useful to be able to sort the columns from highest to lowest, but that feature is not yet available when looking at the Master Rating results page. LimeFX has struggled with pricing in the past, but has vastly improved in this category and is now gaining on the lowest-cost MetaTrader brokers. In addition, LimeFX boasts no slippage on 97.5% of its executed orders, and no overnight carry costs, yet has restrictions in place that can hinder high-frequency traders. LimeFX is regulated in Cyprus by the Securities & Exchange Commission (CySEC) and in South Africa by the Financial Sector Conduct Authority (FSCA). LimeFX holds just one Tier-1 license and one Tier-2 license, resulting in a grade of “Average Risk” within the ForexBrokers.com Trust Score rating system.
Education
It’s worth mentioning that the broker does have a blog and a YouTube channel, yet I was still left wanting more. LimeFX has made great strides with its pricing options for traders and its educational content, but suffers from a limited range of tradeable instruments. LimeFX offers the full MetaTrader suite, albeit with a fairly limited offering of tradeable instruments.
- LimeFX does have a proprietary app for social copy trading (the LimeFX Copytrading app), yet it still trails behind industry leaders such as IG and Saxo.
- They can go as low as $25 (USD) when funding with Visa/Mastercard, to 50 euros (EUR) when using Skrill/Neteller to as much as 500,000 Indian rupees (INR).
- In South Africa, LimeFX provides financial services to clients through an intermediary, Orinoco Capital, which is licensed by the Financial Sector Conduct Authority (FSCA).
- Read our full explanation and accounting of our research and testing process to learn more about how we test.
About the Editorial Team
Some of the other important research categories that are factored into our testing include mobile trading accessibility and capability, availability of market research and educational content, and each broker’s overall Trust Score. LimeFX is an up-and-coming broker that has been in operation for nearly 10 years. Adding additional regulatory licenses in Tier-1 jurisdictions would be a step toward winning more client trust. Founded in 2011, LimeFX (formerly LimeFX) is part of a group of global entities, which include LimeFX Markets LTD (based in the island of Mwali) and LimeFX Markets Cyprus Ltd (based in Cyprus).
There’s no question – if LimeFX wants to compete with the best MetaTrader brokers, it needs to make improvements in its range of products and its research and education. Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets.
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Read our full explanation and accounting of our research and testing process to learn more about how we test. LimeFX has over 50 different payment options, such as Visa, Neteller, Fasapay and bitcoin, as well as a large variety limefx scam of local bank transfers. The availability of these payment methods may also depend on your country of residence.
What is the minimum deposit for LimeFX?
We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points. An experienced media professional, John has a decade limefx scammers of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content. Features like its trading glossary, platform tutorials, and dozens of Frequently Asked Questions (FAQs) help to flesh out LimeFX’s educational offering. That being said, there isn’t much educational content for learning how to trade or understand market dynamics.