Lime Fx Review 2024 Pros & Cons For Forex Traders

However, this is where you should make sure to read the small print – it’s 0,35%, FLAT! What this means is that the fee is fixed, and won’t be changing around due to some trading volume or any other circumstance. Contact us directly for further inquiries about our products and services. This level of regulation and membership in theInvestor Compensation Fund provides a strong legal framework for traderprotection.

Supports a Small Variety of Cryptocurrencies

Importantly, profits are split 60% to the trader and 40% to Lime Fx. There may be a welcome bonus of up to $2,000 when signing up for a Lime Fx Online LTD pro account, depending on your location. This is a hefty account promotion though there may be withdrawal terms and conditions.

STOCK TRAINING DOESN’T NEED TO BE HARD

Our trade rooms are a great place to get live group mentoring and training. The Lime Fx minimum deposit amount to open an account is $100. However, a minimum balance limefx broker reviews of $2,500 is required to begin trading. Also, the minimum amount to open a future or margin account is $2,500. And for a pattern day-trading account, no surprise here, the minimum is $25,000.

AutoShares Review 2024

It’s no wonder, really – buying cryptocurrency with a credit or debit card is probably the simplest and most-straightforward way of going about it. It’s very quick, super-beginner-friendly, and you can also expect the crypto coins to reach your wallet in minutes. These are usually used as the deciding factor when it comes to judging a crypto exchange, at least fee-wise. Withdrawal fees vary by quite a bit, and usually depend on two separate factors – the exchange itself, and the blockchain of a specific cryptocurrency that you want to withdraw.

1. Our forex broker ratings are the result of a blend of quantitative data and qualitative insights gathered during the testing process.
2. Investing in futures and options costs $1.50 per contract per side (buy or sell).
3. Their selection includes tens ofthousands of individual assets.
4. BitDegree aims to uncover, simplify & share Web3 & cryptocurrency education with the masses.
5. The broker does not offer services to the United States or any other jurisdiction where such products or services are not permitted.

Final Thoughts: Lime Fx Review

This is a drawback versus some competitors who offer around the clock customer support. Lime Fx is a discount brokerage founded in 2007 and headquartered in Limassol, Cyprus. The brand was acquired in 2015 by WhoTrades Inc, a company that promotes social trading services. The proprietary platform, Novoadvisor (now known as Lime Financial), gives investors access to the top-performing traders and strategies on the Lime Fx network. While using Lime Fx, our team were impressed with the breadth of trading tools and extra services. With this live account, you cannot trade CFDs on shares, stocks, futures and bonds.

The extensive forex trading options make Lime Fx a perfect broker for an elevated trading experience. For those inclined toward commodities, Lime Fx provides a diverse asset range, including agricultural and non-agricultural securities. Lime Fx also offers the Try2BFunded program for those looking to become professional traders. In the first two stages of the program, traders are placed on a demo/paper account and must meet a profit target while avoiding specific drawdowns and maximum daily loss amounts. If investors successfully pass both steps, they  receive access to a funded real-money account and can trade on the firm’s capital (a monthly subscription fee applies).

Their demo account is a masterstroke, offering a robust training ground for those looking to hone their strategies without financial risks. Lime Fx recently improved its demo trading environment with enhanced features, making virtual trading on it more aligned with actual market conditions. The global social network, WhoTrades, allows traders to construct a personalized feed and discuss ideas, companies/securities, news, and strategies of interest. The service is also accessible to all, not just Lime Fx clients. Lime Fx offers a free demo account with up to $1 million in virtual funds on the online and mobile platforms.

The first option is Joint with Rights of Survivorship (JTWROS), and the second is with Tenants in Common (JTIC)s, which offers custodial and trust accounts. However, traders should pay attention to potential charges by individual payment channels. The deposit minimum is accessible, making the broker a decent option for seasoned and novice traders.

Lime Fx Review: CONS

We may be compensated but this should not be seen as an endorsement or recommendation by TradingBrokers.com, nor shall it bias our broker reviews. Trading Brokers Trading Brokers is dedicated to bringing you unbiased broker reviews, the latest broker news and trading guides to help you along your trading journey. We have over 20 years of experience when it comes to trading online so we know what to look for. Some payment systems may have transaction limits, restrictions, and requirements which are indicated on their respective websites. You may need to verify your account to remove limits on particular methods in some countries. All funds deposited into your trading account must be under the same name as your Lime Fx trading account.

This means that the level of oversight and supervision on this brokerage is likely to be greater than that of an offshore and unregulated firm. At this point in time, you should have developed a pretty good idea of what to expect out of the brokerage in question, and whether or not it will suit your own expectations. The MT5 platform is used for some alternative trading options – we’ll get to that in a bit. For now, it’s worth mentioning that MT5 (otherwise known as the MetaTrader5) is the more-advanced version of MT4 – the most popular and well-known trading interface, to date. They are going to depend on the cryptocurrency of your choice, but are likely to remain super-low, and mostly dependent on the blockchain.

Please note that full access to all assets isavailable on the MT5 account. The Standard and Forex ECN accounts primarilyoffer CFDs for forex, precious metals, and limefx forex broker indices/energies. Lime Fx is a reasonable forex broker for beginners, but not the best we have tested. The $100 minimum deposit is accessible, there is a free demo account and a copy trading app, however there is little in terms of education or beginner-friendly trading tools.

This means clients can lose more than their account balance if the markets move against them. This is an account for beginners who want to understand how the currency market works, and practice trading without any financial risk. I also think demo accounts can be a great way to practice a new trading strategy and see what a broker has to offer before making a commitment. With low rates and a suite of platforms, Lime Fx aims to meet the needs of various traders.