The global foreign exchange (forex) market is the largest and most actively traded financial market in the world. This review of LimeFx is grounded in CompareForexBrokers’ rigorous and transparent methodology, as detailed on Our Methodology page. We evaluated LimeFx across multiple critical performance metrics, including trading costs, platform usability, customer service, regulatory compliance, and the breadth of market offerings.
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Comparing trading costs is challenging, with many variables impacting the final fees. We evaluated the spreads of the EUR/USD, gold, the S&P 500, and WTI crude, four of the most traded assets, available at all brokers. For those interested in low spreads, the RAW account is advantageous, though standard account users may find spreads slightly less competitive when compared to other top brokers. Regulated by ASIC and CySEC, and offering international services under offshore regulation, it ensures a secure trading environment. However, traders outside Australia and Europe should be mindful of regulatory differences. This policy ensures that traders can manage their funds efficiently without worrying about additional costs.
Is LimeFx regulated?
The CFD broker boasts a TrustPilot score of 4.9 out of 5 from 5,478 reviews, indicating high levels of client satisfaction and trust in the broker’s services. LimeFx has an overall trust score of 60 based on regulation, reputation, and reviews. If you live in Australia, you also have the option of opening an IRESS trading account. While designed https://limefx.vip/ for stocks, other selected CFD products are also available on the platform. Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site. Headquartered in Sydney, Australia, LimeFx (First Prudential Markets) was founded in 2005 as an online retail forex and CFD broker.
What products does LimeFx offer?
You can learn more about our independent review process and partners in our advertiser disclosure. Our innovative Comparison Tool is powered by our own proprietary data, and built to take the guesswork out of choosing a forex broker. According to five leading user-review and broker ranking sites, LimeFx ranks exceptionally well. Traders should always exercise caution when reading user reviews, especially for overly positive or negative remarks.
With a wide selection of over 10,000 markets, it caters to various traders, providing educational resources for beginners and ECN pricing for experienced traders. Saxo Bank has operated in the United Kingdom since 2006 through its subsidiary Saxo Capital Markets U.K. Ltd (SCML) and, like many forex brokers, it doesn’t accept U.S. traders. LimeFx impresses with its user-friendly trading platforms, extensive range of tradable instruments, and competitive fee structure. Its commitment to trader education and unique features, such as comparative analysis and trend exploration tools, enhance its appeal. The broker’s customer support is responsive, while its deposit and withdrawal methods are flexible and secure.
What is the minimum deposit for LimeFx?
LimeFx offers four mobile apps, including its proprietary option. LimeFx caters to desktop users by offering trading software compatible with both Windows and Mac operating systems. Windows users can download the desktop platform, while Mac users can access it through web-based solutions. These desktop apps provide advanced charting tools, user-friendly interfaces, and support for MetaTrader, algo-trading, and copy trading, making them suitable for traders of all levels and preferences.
On the downside, the Iress trading platform remains geographically restricted and subject to non-trading related fees unless traders fulfill monthly trading volume requirements, which adds pressure to trade. Given the flexibility of the MT4/MT5 demo accounts, traders should select a deposit size roughly equal to their intended real money deposit to ensure demo trading conditions and results reflect reality as much as possible. The asset selection for MT4/MT5 traders consists of more than 250 trading instruments, an adequate level of choice for most traders. Forex traders get 70+ currency pairs, and diversification opportunities exist via cryptocurrencies, commodities and metals, indices, equity CFDs (available through the MT5 trading platform), and bonds. The IRESS trading platform lists over 10,000 equity CFDs and a few futures contracts, but its availability remains geographically restricted.
Areas we scored LimeFx the highest were excellent customer service (9/10), great educational resources (8/10) and a wide variety of funding methods (8/10). LimeFx shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader or cTrader platform. The Iress platform suite offers well over 10,000 tradeable symbols, but it’s mostly a share trading platform – and is generally a much pricier option. At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Based on our research on the regulatory status of over 60 brokers, we’ve found that Interactive Brokers holds 9 global Tier-1 licenses, while LimeFx holds 2.
With these positive attributes along with its apparent focus on functional simplicity, LCG is well-suited to beginning traders. Although you don’t have to be a beginner to benefit from its offerings, LCG is hard to beat if you are just starting out. LimeFx caters to the modern trader’s need for mobility and flexibility by offering mobile trading options across its platform range.
It offers a broad variety of brokerage services geared towards sophisticated active traders, investors, professionals, and institutions. Smaller account holders may be disappointed by higher account minimums, a variety of fees, and fewer customer support options. Tiered accounts offer lower trading costs and added benefits as equity grows, but the majority of retail traders will have a tough time reaching the higher customer tiers. As one of the major U.K.-based forex brokers, LCG offers a wide range of asset classes and a seamless trading experience. The firm’s fees are competitive within the industry and it ranks high on our list for customer service.
- This review of LimeFx is grounded in CompareForexBrokers’ rigorous and transparent methodology, as detailed on Our Methodology page.
- A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).
- IC Markets is considered Trusted, with an overall Trust Score of 84 out of 99.
- Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time.
- The withdrawal process remains swift and hassle-free, earning LimeFx a top rating in this category.
In summary, LimeFx prioritizes efficiency and transparency in its deposit and withdrawal processes, aligning with its commitment to providing trader-friendly services. These policies contribute to LimeFx receiving a top rating for its deposit and withdrawal procedures. In conclusion, LimeFx’ commitment to educating traders is commendable. By expanding content, improving organization, and diversifying formats, the broker can continue to empower traders with knowledge, setting itself on par with industry leaders.
The brand’s entities are regulated in Australia and Europe, with a total of 95 employees as of 2019. You can start with as little as $100 in most cases, but it’s important to note that forex trades are made in standard lots of 100,000 units of currency. Then you’ll want to build out your strategy for trading in the forex markets. Our editors independently research and recommend the best products and services.
Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker’s commissions and fees, we found that Interactive Brokers limefx official site offers better pricing overall for traders. Based on our thorough, data-driven testing of each broker’s commissions and fees, we found that IC Markets offers better pricing overall for traders.