However, other types of accounts include different deposit requirements. The Premium account requires $100 at least, Auto and Zero-spread accounts require $200 at least, and the HF copy account requires $100 from a strategy follower and $500 from a strategy provider. In order to better understand the difference between LimeFx and competitors, let’s compare commission-free accounts side by side. There is a very high degree of risk involved in trading securities. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.
If you are the type of person who likes charts for analysis, you will find MT4 comes with 3 chart types (line, bar and candlestick) along with 30 of the most popular technical indicators. You will find 9 timeframes ranging from one minute bars, all the way up to monthly bars, which meant we could see trends down to the seconds or over multiple years. To help you make use of these charts, you can open up to 99 simultaneously and create chart templates. With LimeFx, there are a similar amount of options to get your funds out of your LimeFx account as there are to deposit. LimeFx have offices in the UK, Europe, South Africa, Kenya, the UAE, Seychelles and Saint Vincent and the Grenadines. While products are similar for most regions, there are differences.
- The main benefit of using this app is that logging into your trading account is easier since it can be done with your LimeFx credentials.
- The demo platform will
have $100,000 virtual money when you open the account, where you can check your
trading strategies under close to actual market conditions.
- All-in-all, there is a good reason why in our mind MT4 is far and away the most popular trading platform for retail forex traders.
- Dormant accounts will be charged a fixed fee of $5 monthly up until a year.
It’s situations like these, where you realise that you want to use a broker with well-trained customer support staff, who will pick up the phone as soon as you call. One high leverage, poorly thought-out trade could destroy your capital in an instant. Successful trading is primarily about managing risk and making small, intelligent trades over and over again.
What You Will Get In This Post
Broker trust and safety
HF Markets Ltd, formerly Hot Forex is a forex, stocks, and CFD broking company owned by the HF Markets Group. We think LimeFx’s (also called HF Markets and formerly Hot Forex) offering is typical of a broker using an electronic communication network (ECN) with no dealing desk execution model. Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site. This website is using a security service to protect itself from online attacks.
partner is linked with a Personal Account Manager to make sure their plans are
successful. Not every account, or every country is offered the same bonus (or offered one at all), so it’s important to read the terms & conditions if you’re considering taking up a bonus offer. LimeFx offers a reasonably in-depth educational platform suited for reasonably new traders. The broker also offers negative balance protection, which protects you against going into debt in times of a losing trading position.
Yes, based on your detected country of FI, you can open an account with this broker. These include your full name, gender, country of birth, phone number and the base currency you’d like your account to be held in. You’ll need to show your country of residence, as certain countries are only allowed certain accounts. When I did get a hold of a customer support agent, I had to suffer through slow responses and less than perfect comprehension of my questions. LimeFx has also taken out civil liability insurance up to €5,000,000, to protect client funds against broker error, negligence, fraud, and other risks.
What we say about LimeFx
The firm offers a total of 38 FX pairs, which is a decent amount of currencies, but less than some other major brokers. Brokers like Pepperstone, IC Markets and Eightcap have about currency pairs, while CMC Market and IG have over 100 pairs. All that said, LimeFx do have the most popular traded pairs which is all most traders will need. It does appear you get good value provided you use the right currency pair. LimeFx broker offers one of the largest varieties of tradable products in 7 different markets.
Which makes LimeFx a great destination for many different types of traders. Each trading account entails a different minimum deposit and different maximum leverage. LimeFx is an online trading brand with high prestige in the
finance world, with certifications and awards to substantiate their
reliability. They are a well-regulated STP broker with awards for its client
protection and https://limefx.group/ product offerings. Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables.
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LimeFx offers two interesting types of accounts which differ from the traditional trader and retail investor accounts. LimeFx broker offers a percentage allocation management module (PAMM) account type, where multiple investors put their money into a pool that an account manager uses to invest in different markets. Traders using LimeFx Micro accounts have full access to all financial limefx broker reviews instruments, and they can use every trading platform provided by the broker such as MT4 and MT5. This LimeFx trading account type is designed for traders who are new to the Forex market and are making their first steps. Using the Micro account, a trader can place market orders with a minimum contract size starting from 0.01 lots, and a relatively lower deposit requirement.
No HE with registered and office address at Spyrou Kyprianou 50, Irida 3 Tower 10th Floor, Larnaca 6057, Cyprus. The website hfeu.com is operated and provides content by HF Markets (Europe) Ltd. But, when it comes to developing trading skills that are going to mean the difference between profits and losses on your account, LimeFx isn’t going to help you get there.
Spreads and commissions are variable and depend on the market conditions, account type, and markups from the broker. Spread-free accounts or accounts that promise spreads from 0 pips, give you market prices on spreads, on the other hand, they charge you for financial services using a commission. In case you are a high-frequency, active trader, you might prefer to pay less on spreads and more on commissions and vice versa. We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs.
LimeFx Customer Support
Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Three are aimed at beginner to intermediate traders, with a separate pro account designed for more experienced traders. Just note that some accounts are only available in certain countries. There is a reason why foreign exchange, or forex, is the largest financial market in the world; It allows trading on currency fluctuations. Go short or long on Forex CFDs, take advantage of the superior trading conditions offered by HF Markets and become an active forex trader in the global markets.
There are hours of webinars and recorded videos, as well as daily market analysis to keep you informed about current market movements. For urgent technical support or inquiries, calling the company’s phone line would be a much quicker option, but be aware that international calling may be costly. When testing out the live chat feature, I found it to be error-prone, and not particularly useful for getting helpful information quickly or efficiently. There’s nothing more annoying for a trader than when you see a killer trade setup, you try to enter your position, and suddenly a technical error occurs.
The demo platform will
have $100,000 virtual money when you open the account, where you can check your
trading strategies under close to actual market conditions. The broker does not have a minimum deposit requirement to open cent, zero, and premium accounts. Meanwhile, the pro account requires a minimum deposit of USD $100 or a similar amount in another currency.
All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Generative AI tools are not a part of our content creation or product testing processes. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry. All that’s left to do is load our chosen trading platform, and make a deposit. Next up, I was offered a top-up bonus, which is an incentive from LimeFx to deposit funds into the account. Sure, there’s plenty of content on how to enter an order, or telling you what a currency pair is and how many trillions of dollars are traded each day.
Examples of Indices
include Australia 200, France 40, US Wall Street 30, etc. You may refer here
for the full details on various Indices on offer on LimeFx. This account type is the same as the Premium or Zero Spread
Account but follows Islamic law and therefore is a swap-free account. Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Beginner traders will find it easy to deposit and withdraw from LimeFx and be able to trade with tiny amounts of capital.
The communication was smooth and their customer support agents were able to answer trading-related inquiries in a professional and timely manner. LimeFx demo account enables you to practice your trading strategy or to get familiar with the trading interface. There are no commissions on any side of the trade, and the spread varies according to the market condition starting from 1 pip.