They can then trade as usual and earn additional income whenever others choose to copy them. The web-based LimeFxTrader platform is well-designed and intuitive. Popular features such as 1-click trading, alerts, and watchlists are available. Traders can access all basic order types (market, limit, stop loss) via the platform. This section will cover how the different entities of LimeFx are regulated and how this impacts you as a trader. We rate regulators on a scale of 1 to 3, with 1 reflecting the highest level of trust.
MetaTrader 4 vs. MetaTrader 5
There are only 3 account types available at LimeFxFX, but none of these account types has ZAR as the base currency. The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. limefx official site LimeFx offers MetaTrader 4 (MT4), while Interactive Brokers does not. Forex traders also appreciate the ability to engage in social copy trading. While LimeFx offers copy trading, Interactive Brokers does not.
Popular Forex Guides
In addition, when trading with a broker authorized by CySEC, client funds are protected by the Investor Compensation Fund (ICF). ICF protects client accounts for up to €20,000 if a firm becomes insolvent. A trader working with a broker entity regulated offshore would not necessarily have these benefits. ForexBrokers.co.za is a broker comparison & education website for South Africans. We aim to help traders in South Africa find the best forex brokers. LimeFx also offers you its proprietary mobile app the LimeFx Trading App.
Is Interactive Brokers or LimeFx safer for forex and CFDs trading?
- To verify the availability of any features within your country of residence, please contact the broker directly.
- LimeFx requires a minimum deposit of $25 before you can open an account and start trading.
- LimeFx does have a proprietary app for social copy trading (the LimeFx Copytrading app), yet it still trails behind industry leaders such as IG and Saxo.
- Select one or more of these brokers to compare against LimeFx.
- It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.
Verification doesn’t have to be done immediately uponregistration, and traders can initiate it at their convenience. Even if unauthorisedaccess occurs, such as losing your device, withdrawals are restricted to themethods used for deposits. While this might seem inconvenient at times, it’sessential for ensuring security of your money. LimeFx follows international regulation standards on Anti MoneyLaundering and Know Your Customerprocedures to verify the identity of its clients and prevent illicitactivities.
Platforms and Tools
Features like its trading glossary, platform tutorials, and dozens of Frequently Asked Questions (FAQs) help to flesh out LimeFx’s educational offering. That being said, there isn’t much educational content for learning how to trade or understand market dynamics. It’s worth mentioning that the broker does have a blog and a YouTube channel, yet I was still left wanting more.
The choice of platform is tied to the type of account chosen. We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
Available leverage differs according to the asset class, with the most leverage available with CFDs on forex and the least with CFDs on shares. LimeFx does not currently charge swap fees – the charge for holding leveraged positions overnight. In our tests for the Trust category, we also cover factors relating to stability and financial strength. Here, we focus on how long the broker has been in business, what is the company size, and how transparent the broker overall. Select one or more of these brokers to compare against LimeFx.
The broker offers a selection of 230 CFDs across major asset classes, along with access to MetaTrader 4, MetaTrader 5, and its proprietary LimeFxTrader. In my view, LimeFx’s tight spreads, extensive research and educational materials, and diverse payment options truly reflect its innovative approach and dedication to meeting client needs. Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time.
Different regulators provide different levels of protection. For example, LimeFx clients in the European Union benefit from the oversight of the Cyprus Securities and Exchange Commission (CySEC). CySEC requires that clients have negative balance protection, which means they cannot lose more than their deposit. LimeFx is an up-and-coming broker that has been in operation for nearly 10 years. Its growth has enabled LimeFx to continue to expand its products and services. Adding additional regulatory licenses in Tier-1 jurisdictions would be a step toward winning more client trust.
Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite. The trust score came in low, largely because the LimeFx Markets Inc. entity is unregulated. However, the European entity of LimeFx is regulated by the top-tier Cyprus Securities and Exchange Commission (CySEC).
These platforms provide robust charting and a wide range of order types and enable automated trading. The web-based LimeFxTrader platform is a beginner-friendly and convenient alternative. LimeFx excelled in the category of fees, with tight spreads https://limefx.group/ in CFDs on forex and shares. It also bucks the industry trend by not charging swaps or inactivity fees. For both trading accounts (LimeFxFX MT4 and LimeFxFX MT5), all fees are reflected in the spread – there are no additional commissions charged.
Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry. LimeFx offers the popular MetaTrader 4 and MetaTrader 5 platforms across desktop, web, and mobile.
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