Customer service can be reached using the telephone number, email, and live chat on the website. This is a drawback versus some competitors who offer around the clock customer support. LimeFx 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. For options, LimeFx charges a fee between $1.00 and $2.15, depending on the number of contracts.
- Let’s review how much a trader will have to pay for these sorts of services.
- IPO investing, robo-advisors, and individual investment portfolios are also available, as well as leveraged CFDs.
- The core trading environment is solid, except for above-average trading fees, which I rate as the primary reason I cannot recommend this broker despite numerous bright spots.
- The commissions of $2.00 to $3.00 per 1.0 standard round lot are highly competitive, but the spreads make short-term trading styles expensive.
Unlike most other trading products listed here, futures and futures options trading are lightly covered in the broker’s educational resources and research reports. In this review of LimeFx, we’ll discuss the broker’s safety policies and regulations, trading platforms, account types, trading fees, and more. In addition, we’ll guide you through account opening step-by-step. LimeFx have a variety of 20+ convenient methods for depositing and withdrawing funds from your trading account. This includes bank wire, credit/debit card and online payment systems such as Neteller and Skrill.
LimeFx Forex and CFD Standard Account
I think this is an excellent market analysis software that could easily cost thousands as a standalone product. The fact you can get free access to it via the broker is great. As you can see, LimeFx offers beneficial conditions for trading US stocks, which can only be comparable to Degiro, the discount broker. In the majority limefx forex broker of other markets, we estimated the broker’s commissions as high due to a considerable minimum commission per trade. This makes trading small lots of UK, German, Japanese and other countries’ stocks unprofitable. The minimum deposit is $100 for the Forex and CFD Standard and MT5 Global account and $200 for the Forex ECN option.
Firstrade Broker Review 2024
LimeFx offers beneficial conditions for trading cryptocurrencies compared to the majority of classic brokers. Degiro does not provide access to digital assets, which is why we compared conditions with Swissquote. As an example, we used the purchase https://limefx.name/ of Bitcoin for the amount of $2,000. To begin with, below is a table of the broker’s commissions on each market, excluding exchange and clearing fees. Then, we will use examples to see how beneficial they are compared to other brokers.
You should consider whether you can afford to take the risk of losing your money. Automated clearing houses deposits are free and so are withdrawals. The daily deposit limit is set at $100,000 and withdrawals capped at $25,000. These amounts can take up to 7 business days to reflect in your LimeFx account and can only be withdrawn via ACH 10 days after the date of deposit or 60 days via check or bank transfer.
The broker offers various methods for account funding, including bank transfer, Bitcoin, credit/debit card, crypto, Neteller, POLi, PayPal, Skrill, and iDeal. However, most withdrawals are charged 0.20% – 2.5% of the withdrawal amount. The broker has a huge variety of trading instruments across multiple markets including Forex, Cryptocurrencies, Commodities, Stocks, Shares, Indices, Metals, Energies, Options, Bonds, Futures & CFDs. There is something for everyone to trade with thousands of financial instruments available. You will find everything from major currency pairs to stocks of large companies.
Supported on all major platforms
Yes, we work hard every day to teach day trading, swing trading, options futures, scalping, and all that fun trading stuff. But we also like to teach you what’s beneath the Foundation of the stock market. The laudable support system is multi-channelled across live chat, email, and phone communication. Customers can also access a wealth of information on the trading platform, including detailed FAQs and tools for answering questions and explaining diverse trading nuances. The CFD fees are added to the broker’s spreads, promoting a more affordable trading experience for users trading CFDs.
A CySEC-regulated broker with a choice of trading platforms and 30,000+ assets. In fact, on the website, there is access for them where they can access their private area using a username and password. The IB is a partner that attracts clients for the broker in exchange for a commission for their operations. Obviously, the particular conditions have to be dealt with by the broker directly. The Forex ECN and MT5 Global accounts have brokerage fees of USD 3 per lot operated and USD 2 per lot operated respectively, apart from the spread.
With low rates and a suite of platforms, LimeFx aims to meet the needs of various traders. 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. For investors who want to trade on the go, LimeFx provides a seamless mobile trading experience with dedicated applications for Android and iOS devices.
