There is a training program with mentoring session for LimeFX clients about strategies and market analysis. You can also find videos and webinars available to traders on the broker’s website. In addition to being able to use the site on a mobile browser, you can also download an app for iOS and Android and trade on the MetaTrader 4 version of the trading platform.
Multi-lingual customer support is available 24/5 by telephone, email, and live chat. Existing clients are also provided with direct phone numbers to shorten waiting times. In our test of LimeFX’s live chat support, agents were connected within a minute and provided relevant answers. We also enjoyed the professional tone of the customer service team.
- Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.
- Customized workspaces ensure individual flexibility, a feature that more and more clients demand from a competitive trading platform.
- What you can do on LimeFX is trade forex or CFDs, use symbols and pairs, and trade cryptocurrency CFDs.
- Many brokers offer a demo account to allow traders to try before they buy.
- Most deposits remain free of charge, but third-party processing fees may apply.
- In addition, only the basic orders are available, including Market, Limit, Stop, and Trailing Stop.
These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. In addition, the TraderPro and MT4 platforms are intuitive and can be learned quickly by most new traders. Both platforms offer trading directly from charts, a wide variety of technical indicators and customizable workspaces.
Best and most trusted forex brokers in October 2022
It is important to note that CFDs are broad tools and can be accompanied by a high risk of losing real cash quickly because of leverage. So it is recommended to first watch and understand how CFDs function well, but you may decide to put in your money only if you know the risks involved. OvalX is considered a low risk broker for trading forex & CFDs, based on their regulations https://limefx.club/ by the Financial Conduct Authority , in the UK and by other top financial regulators like CySEC. Overall, we recommend you try OvalX, although there are other brokers regulated in the UK that offer more favorable trading conditions. OvalX is regulated in the UK by the FCA and other top regulators which makes them safe for trading as traders have protection for their funds.
We recommend opening a demo account if you decide to use TraderPro, as it is different from other popular third-party software. LimeFX offers one account type, which is limited compared to other brokers, and its account is suitable for beginners and more experienced traders. LimeFX Company also has an overnight fee that they charge because they offer leveraged trading products.
The TraderPro app allows you to manage your positions, react to market movements and place trades no matter where you are. Make your TraderPro experience unique to you by saving, and navigating between, up to ten workspaces. Drag and drop charts and create personalised watchlists to focus on certain markets, time frames or limefx company reviews positions. LimeFX garnered its name from the acronym of exactly what they offer – Electronic trading, Telephone trading and eXecution. The company was initially established in 1965 in London, UK, specialising in mortgage bonds. They later introduced stocks and derivatives as TradIndex which later became LimeFX.
The broker also provides access to copy trading and spread-betting services. To get a better idea of whether LimeFX would be a good fit for you or your company, the broker offers a free demo account so you can gauge its platforms and other offerings. LimeFX offers traders demo accounts for both trading platforms, and I did not find a time limit, which I appreciate, as it grants sufficient time for traders to test new strategies. I want to caution beginner traders about using a demo account as an educational tool.
In conclusion, the ETX Trader Pro is a little bit better than the MetaTrader 4 but does not support automated trading. OvalX is a reputable broker with multiple CFDs for beginners to trade. There’s more comprehensive educational content for beginners. Card deposits on OvalX are credited instantly and bank deposits are handled manually by the accounts department and may take up to 5 business days for your account to be credited.
Even if you’ve closed your account, we’d still like to look into this and offer some kind of resolution or understanding of what may have happened. There are two different trading apps available as part of the LimeFX offering. One of these is the MetaTrader 4 app which works on both Android and iOS devices. The ETX brand first came to light in 2008 and they are now part of the London Stock Exchange.
ETXCapital.co.uk UK Based Forex Trading Broker Review
This allows them to have direct access to the markets on this exchange in addition to their other offerings. Their website is very clear and easy to use and caters to a number of languages. LimeFX enjoys a good regulatory status in Europe, but that is no longer the case in the US. Since the NFA and CFTC stipulated changes limefx scammers to its operational framework and regulatory guidelines, an increasing number of FX brokers shut down its Forex related brokerage services in the US. LimeFX is also a part of the brokers that winded down its US operations, and the broker no longer offers any products or services to the residents of the United States.
Nine trading courses increase the educational value at LimeFX, where traders also find platform guides, eBooks, and a glossary. While the research value offered LimeFX remains low, the approach to education ranks among the most valuable ones available to new traders, which I highly recommend to beginner traders. There is a free demo account which is easily accessible and will allow you to practise trading. Use the MetaTrader 4 version of the ETX trading platform while you familiarise yourself. When it comes to safety, their long-established record makes them a viable choice. LimeFX is licensed and regulated by the FCA, which means they have to follow strict guidelines.
- The telephone is always available to rescue a situation of my own making and online connection is interrupted.
- We recommend OvalX for forex, spread and cfd traders looking for great funding and withdrawal options and an easy-to-use platform.
- LimeFX is a British based company, offering a non-dealing desk approach to the markets.
- Overall, LimeFX offers a broader range of assets compared to other brokers, including an impressive Forex lineup.
Between 74%-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. In addition to excellent trading platforms and fast executions, the well-established broker offers spread betting, copy trading and excellent educational and research resources. The TraderPro software has a well-laid-out interface and lets you access advanced features like charting and research. In addition, if you have any questions related to trading or the trading platforms, you can access LimeFX’s customer support service around the clock during the trading week.
LimeFX (aka OvalX) Reviewed: Lots To Like About This Technical Trading Platform. Here’s The Detail
The charges are done monthly, depending on the type of currency used. Your trading currency fee can be viewed on the LimeFX trading website. There are over 31 currencies on the platform, making it not easy to list them all in this article. Just visit the ETX official site and click on the create account button.
Customise your charts and compare up to eight different markets at once to optimise your trading experience. Our easy-to-use trade tickets make it simple to set stops and limits, enabling you to calculate your risk prior to execution. We also offer free award-winning education on risk strategy and position sizing in order to help you effectively manage risk on every trade.
The search functions are OK.The assets are grouped by category. However, the categorization is a bit confusing as there are several forex and stock categories. It is quite easy to set alerts and notifications on the OvalX mobile platform.
A volume-based rebate program for the commission-based trading account, as the absence of it makes LimeFX less competitive. Commission-free Forex trading in the proprietary trading platform from 0.6 pips or $6.00 per 1 standard lot. Premium client package, professional account upgrade, and custom-tailored services for high-net-worth clients.
To assist you with your choice, we have carried out a full and comprehensive review of LimeFX and what they provide you, the trader. For instance, LimeFX uses tighter spreads at 0.81 pips compared to MT4. The included exchange data encompasses over 20 exchanges, leaving the commission per trade and any applicable spread when it comes to trading CFDs. In fact, if you are trying to find detailed and up-to-date information on LimeFX today, you may find that the broker is registered under a new name known as OvalX.
- This prestigious UK-based trading platform LimeFX offers access to thousands of markets.
- Beyond that, they also have the ETX TraderPro platform, which has access to thousands of assets, and of course a full suite of professional and customizable bells and whistles.
- LimeFX offers an average number of payment methods compared to other brokers.
- Trade more than 6,000 markets without commissions and professional platforms.
- Furthermore, if you want to withdraw less than $100, you will be charged a $10 fee.
- The trailing stop order means that while you can protect yourself from losses, you don’t risk losing out on a potential profit.
Price, cost, speed, likelihood of execution, and size are OvalX’s core execution factors. When dealing with retail clients, OvalX places more importance on price and cost together in order to achieve the best financial result for you. So they choose the execution method and venue that minimises your trading cost. Instead, they aggregate prices and gather market data from various sources to get an average figure. All of this is done to ensure there is fairness in the final price quoted to traders.
At the time this review of LimeFX was conducted, neither bonuses nor promotions were available.