Traders pay no financing fees, irrelevant of how long a trade remains open. An Islamic Forex account is a halal trading account that is offered to clients who respect the Quran and wish to invest in the Islamic stock market following limefx courses scam the principles of Islamic finance. As Sharia law prohibits the accumulation of interest, traders with Islamic accounts do not pay or receive interest rates. Forex trading has large potential rewards, but also large potential risk.
- A currency trading platform is a software interface provided by currency brokers to their customers to give them access as traders in the Forex markets.
- LimeFxFX does have a proprietary app for social copy trading (the LimeFxFX Copytrading app), yet it still trails behind industry leaders such as IG and Saxo Bank.
- There is also a Master IB program that offers further training and regular IB competitions.
- From our assessment, LimeFxFX emerges as a broker that proves itself to be reliable and conducive to traders, making it a viable option for consideration.
- Depending on the trading strategy, it may become the most significant fee per trade.
This is particularly true of the forex currency pairs being offered. LimeFxFX offers their customers 24/7 customer support, all week even on weekends. The customer service https://limefx.group/ response rate was quite fast based on my personal experience and the live chat option just makes getting in touch, when support is needed, easier and faster.
The exceptions to this rule are the United States, Belarus, Brazil, Myanmar, Cuba, Cyprus, Iran, Iraq, Kazakhstan, Libya, Niger, North Korea, Russia, Sudan, Syria, and Ukraine. Funding and withdrawal options in LimeFxFX are diverse, so you can choose what works for you and which one is easier. The broker is providing options to deposit and withdraw in USD or Euro. You can also follow the broker’s news and updates on their social media platforms provided on their website for smoother and more up-to-date content and news. The option of sending an email to the broker is also available and the reply rate is quite satisfactory. MT5 was designed to be a multi-functional user-friendly platform that enhances auto trading systems, technical tools, and copy trading.
Placing a Trade
LimeFxFX is a forex broker that boasts a large number of users and many features and tools. LimeFxFX has many aspects that set it aside from other forex brokers. Compared to other brokers who offer more deposit and withdrawal methods available in the market, the broker here is lacking when it comes to the options provided. LimeFxFX offers both written and visual educational materials to its investors. In this part of this LimeFxFX review, I will explain the educational topics that are offered to educate traders of LimeFxFX.
The staff were well informed and professional and able to help us deal with the beginner / intermediate grade questions we presented them. The trades were reported accurately in the site’s Portfolio section, and closing them out was a similarly hassle-free process. The crisp aesthetic of the dashboard is appealing and gives traders everything they need without creating a cluttered feel. Incorporated in 2011, the CFD broker comes under the stringent regulations of the Cyprus Securities and Exchange Commission (CySEC) in Europe. To expand its services to include international clients, LimeFx Markets Inc has included a registered office in St. Vincent and the Grenadines. 77% of retail investor accounts lose money when trading CFDs with this provider.
- Each of these account types functions primarily with a different trading platform.
- He has an inside knowledge of how the financial markets work, thanks to roles including trader on a $750m Event-Arbitrage desk and CRO and COO of hedge funds running a variety of strategies.
- Anthony Gallagher is a financial journalist and forex expert with years of experience in the industry.
- This may impact how, where and which companies / services we review and write about.
- ➡️ Traders can choose the account that they want to fund and choose their preferred deposit method from the list provided.
- In this part of this LimeFxFX review, I will explain the educational topics that are offered to educate traders of LimeFxFX.
All three platforms include automated trading features that can be accessed via the desktop client, web browser, and mobile. The broker also provides trading signals via Autochartist Pro on MT4/MT5 trading platforms, offering advanced daily updates, insights, and analytics. MT4/MT5 trading platforms exist as a desktop client, supporting all features, a lightweight web-based trading portal for manual traders, and a mobile app.
Forex Risk Disclaimer
It means there are reoccurring fundamental problems that many users faced independently. You can also guess that the platform is focusing their effort on making trading beneficial primarily for Asians – namely, Bengali, Indonesians and Chinese, to lesser extent. It doesn’t mean that you’ll have poorer service if you aren’t a Bengali. However, if you are, then you’ll have much more favorable conditions.
While not explicitly stated, their customer service appears to be accessible beyond standard business hours. The broker also maintains a comprehensive FAQ section on its website, providing in-depth information on common queries related to trading, account management, deposits, and withdrawals. One of the most ignored trading costs is swap rates on leveraged overnight positions.
The price retested the lower side of the channel during the US session. The US government is also boosting its spending, which has led to a record deficit of almost $2 trillion. While it is too early to tell, this war could spread in the coming months. For example, mortgage rates rose to 8% for the first time in 23 years.
LimeFxFX allows revenue share, where copiers only pay a fee on profitable trades or fixed revenue per lot, where a trading charge applies irrelevant to the outcome. Copiers may use the filter to evaluate the Master Traders most suitable based on the commission structure. I highly recommend the MT5 trading account for equity traders and MT4 for Forex traders due to its superior tools for algorithmic traders. LimeFxFX classifies the MT4 trading account for the Traditional Trader and MT5 for the Innovative Trader.
Forex Fraud Certified Brokers
Terms and conditions apply, and I recommend traders read and understand them before participating. Beginner traders get the most educational value from webinars, which LimeFxFX also publishes on its YouTube channel. I also recommend the 21 well-thought-through articles and its 11-video beginner’s course, which introduces new traders to financial markets. The LimeFxFX combination of written content, charts, and videos creates a valuable product. Platform tutorials are equally available, guiding beginners through the initial steps. Additionally, I recommend that new traders seek in-depth education from third parties covering trading psychology and avoid paid-for education.
These include the latest in market news and insights, as well as reports, video analysis, and a wide range of calculators and an economic calendar. The cTrader desktop platform is also well-respected within the sector and offers a more modernized visual which may appeal to some traders. As with MT4 and MT5, traders are free to customize much of the layout and implement their own automated trading strategies where required. The platform is very user-friendly and intuitive in the same manner with the charts displayed in the central console window, and many of the controls operating on the periphery. The contrasting colors and market hart displays make it very easy for traders to read and identify trends on charts, and this appeals quite often to newer traders in the sector.
It is not a publicly-traded company and is not regulated by top-tier authorities. LimeFxFX offers a smooth registration process, quick deposit and withdrawal processes, a great layout, mobile trading, Islamic accounts, attractive bonuses, and a good user experience. However, it’s not available for US-based users, it lacks some assets and currency pairs, and it has low trust since it’s not regulated by any top-tier authorities. LimeFxFX is best suited for both beginner and intermediate traders due to its easy-to-use platform, educational resources, and low minimum deposit requirement. The broker provides comprehensive trading tools and features that traders can leverage to optimize their trading strategies.
I only found a phone number missing from the overall support offer. Copiers must fund their copy trading account before following Master Traders. They may opt for a direct deposit or transfer from their trading account. LimeFxFX displays a recommended amount to allocate to each Master Trader. Copiers may copy trades in full or proportionally to their trading balance versus the Master Trader. I recommend the former, as it will result in superior trading results, as it adjusts positions based on portfolio size and leverage.