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Forex Trading Blog Forex News, Articles and Market Analysis LimeFx

By March 12, 2021May 30th, 2024No Comments

The average spread for major currency pairs is below 0.5 pips or less than $5.00 per lot, offering traders a distinct pricing environment advantage. Users will like their experience with this broker because it charges very few fees. There are no commission fees, nor is there a minimum deposit, and spreads start at 0.0 pips for some assets. These cost-saving features, combined with the 24/5 customer service, make “user experience” high on the LimeFx priority list.

Services Offered by LimeFx

LimeFx’s model empowers clients with direct access to a liquid forex ECN model where everyone receives equal access to the same liquid markets with instantaneous trade execution without any delays or re-quotes. Our stance as a Non-Dealing Desk broker ensures there’s never a conflicting interest with our clients, and our trades remain anonymous to our liquidity providers. Believing firmly in the significance of having a multitude of liquidity providers in the ever-evolving forex market, we’ve cultivated robust relationships with globally acknowledged financial institutions. We aim to provide our clients with the most competitive forex spreads available, even under turbulent market conditions and during pivotal data and news releases, ensuring a sustained trading advantage. The very first thing I noticed when I started trading with the ECN XL account was the instant execution. I was trading with another broker previously, and after I pressed the buy or sell button, there was a little time to wait for the trade to be executed.

Overview of Trading Platforms

The broker has been around since 2010, and, though that is still pretty new compared to others, it has over a decade of industry experience. LimeFx’s business model is based on STP (Straight Through Processing), where orders are sent to financial institutions directly. This eliminates the potential for conflicts of interest or price mark-ups, making this broker pretty reliable when it comes to trade execution. According to LimeFx, many of the procedures the broker has adopted “go beyond” the basic rules and regulations imposed upon it in various countries. The broker monitors all financial requests, making sure that they are safe. Customer support is very important for new traders, and LimeFx offers it in the form of 24-hour customer service that runs five days a week.

Resources Offered by LimeFx

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. 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 level of Swap rates may vary in size and change depending on the level of interest rates.

Traders #1 ChoiceECN XL Account

The Cyprus Investor Compensation Fund (ICF) protects retail trades in the event of insolvency up to €20,000. Client deposits remain segregated from corporate funds at both entities with leading international banks, but LimeFx does not list them. Clients can find the provision limefx in the Investment Services General Conditions PDF. LimeFx has a clean regulatory track record and established itself as a secure and trustworthy broker. adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence.

The ECN XL Account: A Synthesis of VIP Services & Cost-Efficient Trading

Traders should stay updated on these factors because they can affect interest rate differences and, in turn, swap charges. Swap rates, also known as rollover rates, are the interest payments traded between traders for holding positions overnight. These rates are decided by the interest rate differences set by central banks of the currencies being traded. Put plainly, if you’re trading a currency pair where the starting currency has a higher interest rate than the second currency, you may earn a swap credit. But if the starting currency has a lower interest rate, you’ll likely end up paying a swap charge.

  1. The international subsidiary, on the other hand, operates with limited oversight, and this holds the broker back from achieving a higher score.
  2. However, users can access the LimeFx FAQ section to solve small queries and doubts.
  3. Trading indices are used in all kinds of investment vehicles, such as mutual funds or retirement plans.
  4. Clients can open a ECN XL account with only $100 and enjoy the same level of dedicated full support and service as if they are a VIP client.
  5. According to BIS (the bank for international settlements) the FX market is responsible for circa $6.6 trillion of turnover each trading day.

Customer support provides information regarding market analysis, educational resources, ECN account, and margin requirements are all provided to new traders by the customer support. LimeFx broker provides clear details regarding pending orders, swaps, spreads, Metatrader 5 availability, assets, leverage, spot metals, inactivity fee, analytical objects, and many more. Like many brokers, it gains extra preference by traders as it is regulated by Cysec. It is the best broker with license number, great market orders, and an institutional-level support team to guide you.

A long position is when you buy a currency pair, expecting its value to go up. On the other hand, a short position is when you sell a currency pair, anticipating a decrease in its price. Depending on the direction of your trade, swap rates can either help or hurt your trade’s outcome. LimeFx uses state-of-the-art Secure Sockets Layer (SSL) network security protocol to keep client private information safe. Furthermore, all client funds are held in accounts with major international banks and kept segregated from LimeFx corporate accounts. Novice traders should have little difficulty finding online assistance about how to operate the MT4 platform and use it to their advantage.

With indices from various global markets, diverse metal trading options against the US dollar and the euro, a broad spectrum of cryptocurrencies, and spot oil trading, LimeFx stands as a versatile trading platform. It is safe and has the necessary security tools in place, and also has a lot of good trading conditions. However, this is still a powerful platform that will provide everything needed for experienced traders to conduct technical analysis while also being intuitive enough for beginners to pick up easily. LimeFx’s investment offering is excellent for forex traders but weak in other departments. LimeFx holds a regulatory license from the Cyprus Securities and Exchange Commission (CySEC). It also operates an unregulated but duly registered subsidiary in Vanuatu, where most international clients trade.

To comply with the anti-money laundering guidelines, funds will be withdrawn as they were received and up to the initial deposit amount. LimeFx offers a number of deposit and withdrawal processes, including a zero deposit fee, which will be paid by the LimeFx payment processor upon deposit. LimeFx gives maximum leverage to customers who demand it and has over seventy Forex trading pairs. They provide a diverse range of economic indexes, precious metals, and energy. The US Wall Street 30, US 500, and US Tech 100 are among the indexes, as are indices from Germany, Spain, France, Switzerland, Hong Kong, Japan, and Australia. To maintain the security of all transactions, the MT4 platform uses 128-bit encrypted connections to transport data contained between servers.

Forex Companies constitute financial advice to your real trading account with a virtual private server. Algorithmic trading with maximum leverage serves important informational purposes. Attractive trading conditions, mobile trading, MT4 trading platform, risk warning, no hidden charges, demo account are eye-catching for trading forex. LimeFx broker is not a dealing desk broker, and online trading of a financial instrument on mobile devices can be done. LimeFx offers its members bonus points at higher levels of involvement through various activities such as buying shares in company stocks, getting subscriptions to certain services, or taking part in seminars. An account with LimeFx provides assets, spreads, swaps, and significantly less commission fees.

LimeFx ECN XL account holders pay no commissions to trade any supported asset. Dealing spreads for forex pairs and CFDs can vary from 0.0 pips upwards depending on the liquidity and trading volume of the asset involved. There is no standard withdrawal fee because each platform has its own policy regarding this matter. It all depends on what they perceive as the risk of losing their customers’ money with them. There are no fees involved in the LimeFx withdrawal methods, and you can withdraw money with ease. The minimum withdrawable amount is 50 dollars for ECN XL and ECN Standard accounts.

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