In this broker comparison, Benzinga will review two popular foreign exchange (forex) trading platforms. In addition to the aforementioned Forex ECN XL trading account, LimeFx also offers a VPS and scammed by limefx depending on regulation – deposit bonus. Clients can trade using a Virtual Private Server, which LimeFx says can give them three main advantages, including accessibility, security, and speed.

The ECN/STP model gives LimeFx clients the freedom to trade on a more level playing field. LimeFx has worked hard in making the world of Forex more transparent with a greater degree of control for traders. Until recently, foreign exchange brokers did large amounts of business, facilitating interbank forex trading and matching anonymous counterparts for small fees.

Today, however, much of this business has moved on to more efficient electronic systems, referred to as ECN. The interbank market caters for both the majority of commercial turnover and large amounts of speculative forex trading every day. Some of this forex trading is undertaken on behalf of customers, but much is conducted by proprietary desks, trading for the bank’s own account. Our ECN XL account has all the features and benefits you would expect and demand from an ECN/STP broker who has always been right at the cutting edge of industry development.

ECN spreads come in as low as 0.0 pips during peak trading hours, while it supports a wider range of currency pairs than the majority of rivals with over 70 forex assets. Additionally, you have access to MT4, which was built specifically for forex trading and excels for its charting tools. I like how the company is comprised of a dedicated team of professionals with extensive experience in the financial industry. This means that they should understand exactly what we need as traders. LimeFx’s ‘No Dealing desk’ execution model comes with no dealer intervention and no re-quotes. Client trades are made on prices provided to LimeFx by its liquidity providers.

The company also requires no deposit and offers generous leverage, reducing the barriers to market entry. New traders can learn as they go using the extensive library of training materials and the demo model. Modern online trading platforms are fast and efficient, providing you with the market analysis and charting information you need to make informed investment decisions.

This app comes equipped with sophisticated charting tools, including 30 technical indicators, 9 different timeframes, and 3 varieties of charts, ensuring a comprehensive trading experience. However, not all currency pairs are as generously priced – GBP/USD trades with a 1-pip spread, which is more expensive than the average of around 0.3 pips at Fusion Markets, for example. LimeFx has earned a good score for its fees due to the tight ECN spreads combined with no commissions, an unusual pricing model that places this brand among the cheapest forex brokers we have reviewed.

  1. The interbank market caters for both the majority of commercial turnover and large amounts of speculative forex trading every day.
  2. The broker’s customer support team are available 24/5 from Monday through to Friday.
  3. LimeFx ECN XL account holders pay no commissions to trade any supported asset.
  4. With such a useful market analysis, we would love to see the section expanded to other pairs.
  5. An economic calendar is an invaluable trading tool which is often overlooked and undervalued by traders.
  6. These are unequivocally distinct from any and all LimeFx corporate accounts, a measure that fortifies the integrity of our clients’ assets and builds an enduring foundation of trust and reliability.

The broker monitors all financial requests, making sure that they are safe. Regulated by CySEC, LimeFx provides clients with access to a liquid Forex model (ECN). All of its clients receive the same access, and all trades are executed immediately, with no delays or re-quotes. The broker doesn’t take the other side of trades, which differentiates it from Dealing Desk brokers. Client orders, stops, limits, and trades are executed with counter-parties, meaning LimeFx is firmly on the client’s side.

Opening an Account

A Forex e-book and educational glossary are also included under the LimeFx “Education & Research” header. This feature indicates that LimeFx is perfectly fine with teaching new traders the ropes. LimeFx is a low-cost brokerage with no commissions and spreads that are generally competitive, especially on currency pairs.

Unlock Your Trading Potential with MetaTrader4

The broker lets you trade the available financial instruments using the MT4 trading platform. The software offers an impressive array of analytical tools, including nine timeframes and four chart types for each financial instrument to ensure detailed market analysis. Clients have access to the full suite of the out-of-the-box MT4 trading platform. It fully supports automated trading and is one of the most versatile trading platforms available. MT4 upgrades are available through third-parties for an additional fee to (potentially) enhance the trading experience. One significant advantage is that LimeFx offers a more in-depth introduction to MT4, which many brokers fail to do, and which can truly set traders up for longer-term success.

The ECN XL Account: A Pinnacle of Trading Efficiency

Unlike Dealing Desk brokers, LimeFx never opposes client trades, ensuring a seamless and transparent trading experience. The potential for stop loss hunting or spread widening is meticulously eliminated. With its stringent adherence to CySEC regulations, LimeFx grants clients access to a consummate Forex model STP/ECN, establishing itself as a non-market maker, https://limefx.name/ distinctly separating it from Dealing Desk brokers. LimeFx brand is an international brand that is registered and regulated in various jurisdictions and is committed to offering you the best possible trading experience. The platform contains some excellent back-to-basic training for beginners along with intermediate and advanced educational facilities.

The MetaTrader 4 Multi Terminal is a component of the MT4 package that was designed to enable money managers and professional forex traders to handle many forex trading accounts at the same time. Any trader who is familiar with MT4 will feel right at home with the user interface on the MT4 Multi Terminal. Customer support is available 24/5 via e-mail, webform, phone, fax, and live chat. The FAQ section answers many of the most common questions, and LimeFx is transparent about its products and services. Most traders are unlikely to require additional assistance unless of an emergency. LimeFx maintains one of the cheapest Forex cost structures available, with commission-free quotes from 0.0 pips or $0.00 per 1.0 standard lot for the most liquid currency pairs like the EUR/USD and the USD/JPY.

I like how the process is all done online and shouldn’t take you more than a few minutes to complete. I think it is great how the broker supports Muslim traders by giving them the option of a swap-free account which complies with Sharia law. However, this is not a unique feature and something that you will find most brokers provide nowadays.

This means that clients of LimeFx’s offshore branch won’t get the same level of protection and won’t have access to compensation schemes or trusted regulators if things go sour. CySEC is a top-tier regulator that helps ensure LimeFx follows strict business standards and implements safeguards like negative balance protection and segregated client funds. LimeFx maintains a nice balance of traditional payment processors like bank wires or credit/debit cards, modern e-wallets like Skrill or UnionPay, and cryptocurrencies. Your trading opportunities and potential success is automatically enhanced by using our straight through processing order fulfilment, in an ECN (electronic communication network) environment. It’s a good broker for intraday trading because trading conditions allow to earn on every move.

Customer Reviews

This is essentially free credit that can be used for trading purposes, and I was pleased on this occasion that there were no minimum trading requirements. I only really missed having PayPal available since this industry leader is one of the most widely used e-wallets and is accepted by rivals, including XTB and IG. Looking at the negatives, the coverage outside Europe, while fairly industry standard is disappointing, with the global entity registered in Nevis as an International Business Corporation (license number C55272).