Along with trade on spot metals and spot energy commodities, it also gives its clients the opportunity to trade commodity futures. Futures contracts allow traders to make a profit from the price margin before the closing date determined in the contract. CFDs on commodity futures are extremely flexible and convenient for traders compared to trading and owning the physical commodities themselves. Lime Fx offers a great variety of trading accounts to https://limefx.vip/ suit different types of traders and trading styles. Traders can choose between Live trading accounts with floating and fixed spreads and STP/ECN trading accounts, each tailored to offer distinctive features.
- STP (Straight Through Processing) execution does not include commission (the commission is within the spread) and these types of trades are forwarded directly to liquidity providers.
- I always recommend that traders check them before evaluating the total trading costs.
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What CFDs Can You Trade With Lime Fx?
Lime Fx offers a great fit for traders at low to medium skill levels, with flexible account types that suit many investment and trading styles. Money managers can also benefit from a personal multi-account manager (PMAM) that allows trading of multiple Metatrader accounts. Professionals trading their own accounts may wish to look elsewhere, despite tiered pricing, due to the lack of volume discounts or a proprietary high-end trading platform.
Platforms and Tools
According to its LinkedIn page, Lime Fx has been in operation for 15 years and employs over 600 people—both indicators of its stability. After reviewing the broker’s legal documents, I found everything to be in order. The Client Agreement is easily accessible on the website, with all relevant information presented clearly and in an easy-to-understand format. In our Trust category assessments, we evaluate factors tied to stability and transparency, including the broker’s operating history, company size, and information transparency. Steven Hatzakis is the Global Director of Online Broker Research for BrokerNotes.co and ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry.
Secondary security features are unimpressive, with standard encryption at the website and no two-tier platform authentication beyond Metatrader’s one-time passwords (OTP). It introduces traders to the broker’s services and allows scammed by limefx them to tweak their strategies in a risk-free environment. The market is continually evolving and never static, so it is important to hone your skills in a safe environment.
Participate in Spot Commodities Trading
The broker charges an inactivity fee and requires a minimum deposit, but it also offers discounts for active traders. The average spread cost for the EUR/USD pair is 1.2, slightly above the industry average of 1.08. With an average rating for commissions and fees, Lime Fx provides a standard cost structure without significant advantages. MetaTrader 4 or MT4 can be downloaded directly from the Lime Fx website for those who prefer the downloadable software package. With it, clients have access to more than 200 financial instruments in Forex, shares, spot indices, spot metals, futures, and commodities.
Experience Absolute Zero
I want to caution beginner traders when using demo trading as a simulation tool, and they should consider the limitations. Demo trading does not grant exposure to trading psychology and can create unrealistic trading expectations. Low trading fees and quality education for beginners from an industry leader. While Metatrader 4 and 5 are a bit outdated with some clunkiness, they provide reliability and vast functionality that frequent traders need. Lime Fx impresses with its probing and layered market research, developed in-house and incorporated from Trading Central.
Joey Shadeck is the Content Strategist and Research Analyst for BrokerNotes.co and ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content. Lime Fx received numerous awards for various aspects of its competitive trading environment. Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights in the commission-free Absolute Zero account. Inexplicably, the daily web-based “Market Insights” column was not reproduced on the research app.
- Plamen’s broad experience has equipped him with the expertise to recommend the best forex brokers.
- I also like the Lime Fx fractional share dealing, which is excellent for smaller portfolios.
- I have compiled the table below to help you better understand the difference between the trading fees with Lime Fx’s No Commission account type and the industry average.
- Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets.
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. The Absolute Zero Account is an STP account and has no commissions on trades. The minimum deposit required for this account is $500 and once again, clients can register SD, EUR or JPY as their base currency. The STP/ECN Zero Spread is an ECN account and ECN stands for Electronic Communications Network. With this type of account, traders receive direct access to other participants in the market.
I like the trading fees in the Lime Fx Absolute Zero account, where traders get commission-free spreads from 0.3 pips. VPS hosting exists for algorithmic traders and copy trading services are also available with a balanced asset selection and active trading community. Client funds are segregated from company funds, reducing the potential for misuse. They operate a counterparty dealing desk, raising conflict of interest issues, but offer direct interbank trading access in some account types. They provide no guaranteed stop-losses but negative balance protection is now mandated under ESMA rules.
Lime Fx detailed information and reviews
The FAQ section answers the most common question, and live chat is available with fast response times for basic questions. Broker research materials have been neglected, generating the biggest black mark in our review. The free Lime Fx Research app allows clients to look at stock market data, financial viewpoints, and videos in an easy-to-use format. However, stale and outdated information undermines the app’s enormous potential, with the most recent entries going back several years in some cases. The “Live Economic News” showed up to date reports, but “Live Currency Quotes” produced a dead link.
Lime Fx provides free Virtual Private Server (VPS) hosting to high-volume traders interested in achieving lightning-fast order execution speeds and stable internet connectivity. The MetaTrader app stands out for its convenience, making it an essential tool for adjusting trades, especially during periods of heightened volatility. However, I consider it cumbersome and not the best choice for analyzing price action. However, its dated and rugged design is inferior to newer and sleeker platforms. As a trader who prioritizes flexible charts that are easily scalable, I find MT4’s charting capabilities too rigid and less effective.
The other alternative is to use the Personal Multi Account Manager (PMAM) but it is available only to professional traders and money managers. The platform allows clients to manage unlimited accounts but as we have said, it is designed for professional traders only. You can buy or sell CFDs on gold and silver, as well as palladium and platinum with market-leading spreads and spot execution.. Clients must contact the broker’s customer support to request further assistance. In my opinion, MT4 is best suited for automated trading via Expert Advisors (EAs).
However, the broker does not provide any low-risk securities, such as ETFs, bonds, or vanilla options. Lime Fx is one of the few brokers that allows traders to choose between fixed and floating spread accounts. The broker does not have a huge range of commodity markets but it offers trade on the most popular ones.
The ECN broker manages to consolidate quotes from several participants, which is why spreads here start from 0.0 pips and are typically very tight. A commission is charged, however, because the broker needs to be compensated in some way. VIP members benefit from even better conditions – for instance, the spreads are tighter, around 1.4.
Clients can also download MT4 Advanced, which comes equipped with front-end terminals and back-office reporting functions, as well as automated strategies and the ability to use Expert Advisors (EA). EAs are automated trading bots, which can be customized by the trader and used for robot trading based on preset rules and conditions. The MT4 platform, whether accessed through Windows or WebTrader, is tailored to provide a comprehensive and enriched trading environment. Lime Fx accepts traders resident in most countries except the USA, Iran, Cuba, Sudan, Syria, and North Korea. Lime Fx has traders from 180 countries, making it one of the most accessible brokers. The minimum deposit at Lime Fx is $50 for most accounts, except for the Zero Spread option, which requires $500.