Overall, I rate LimeFx as an innovative broker with a client-centric focus. One thing that stood out to me about this broker during my review was the ease of use. The LimeFxTrader platform is intuitive, well designed, and has popular features like alerts and 1-click trading. There are no swap fees, inactivity fees, or fees for deposits and withdrawals. Three account types cater to traders with different levels of experience.
Account Application
An 11-lesson course on forex basics is available in video format and makes a good primer for new traders. LimeFx also provides platform tutorial videos, which cover getting started with MetaTrader, using your personal account area, and how to copy trade. The AutoChartist plugin for MetaTrader is available to clients with $1,000 or more in their accounts.
Is Interactive Brokers good?
We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points. 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.
- The MetaTrader 5 mobile app also provides many order types, including pending and stop orders.
- In our tests for the Trust category, we also cover factors relating to stability and financial strength.
- It allows you to trade without any additional software, only an internet connection is required.
- LimeFx offers a basic, low-cost MetaTrader platform experience alongside its social copy-trading platform.
- In our analysis of 23 international regulators across 62 of the best forex brokers, Interactive Brokers is considered Highly Trusted, with an overall Trust Score of 99 out of 99.
Account Types Comparison
To open a trading account with Interactive Brokers, you’ll need to make an initial minimum deposit of $0. Tightspreads from 0.6 pips, 80 trading instruments,including currencies, metals, energies, indices, and cryptocurrencies. Traders mayfind the verification process inconvenient, but it plays a crucial role inensuring their safety. It serves to prevent money laundering through KYC/AMLpolicies and safeguards against anonymous withdrawals, protecting traders frompotential theft.
MetaTrader 4 vs. MetaTrader 5
This allows you to manage your trading accounts and finance. The Web Trading platform provides useful features for advanced traders like single-click trading. Meanwhile, it has limited advanced order functionality and chart views. The globally recognized trading platforms like MetaTrader 5 and MetaTrader 4 are offered by LimeFx for trading through Web – Windows and Mac and Windows Desktop.
Mobile trading apps
Though it has been granted regulatory status in Cyprus and South Africa via an intermediary (Orinoco Capital), LimeFx’s lack of additional reputable licenses heavily weighs down its Trust Score. Becoming regulated in more jurisdictions – especially in Tier-1 jurisdictions – will go a long way towards building trust with existing and prospective customers. Traders from South Africa have option to open only USD base currency account. Step 7) Click on Deposit button and select your preferred payment method.
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. Founded in 2011, LimeFx (formerly LimeFxFX) is part of a group of global entities, which include LimeFx Markets LTD (based in the island of Mwali) and LimeFx Markets Cyprus Ltd (based in Cyprus). LimeFx also provides financial services through its intermediary, Orinoco Capital (based in South Africa).
Our editorial team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Our research is unbiased and independent; learn more about how we test. Simpleand powerful trading platform created with your comfort in mind.
This broker has many qualities suited to beginners but can also cater to experienced traders with the advanced features of MetaTrader. The global entity is unregulated, and this means clients benefit from fewer account protections. However, LimeFx limefx official site states that it provides clients with segregated accounts and negative balance protection. A welcome addition would be third-party account insurance (such as a policy from Lloyds of London), as seen at some other popular offshore brokers.
The MetaTrader 5 mobile app also provides many order types, including pending and stop orders. However, trailing stop-loss orders are only available from the desktop. To change the language of the MT5 app, you must change the language for your entire https://limefx.name/ phone. As with the desktop and web platforms, the interface is not highly intuitive, but the MT5 app offers an above-average range of features. Minimum deposits at LimeFx will vary depending on your country of residence and your chosen payment method.
To compare the trading platforms of both Interactive Brokers and LimeFx, we tested each broker’s trading tools, research capabilities, and mobile apps. For trading tools, Interactive Brokers offers a better experience. With research, Interactive Brokers offers superior market research. Finally, we found Interactive Brokers to provide better mobile trading apps. 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 provides 24/7 customer support via live chat and email. In my tests, I received speedy responses—the same day for email and a wait of just a few seconds for live chat. Despite the lack of phone support, I rate LimeFx as average in this category. We performed our tests with a live account, using the MetaTrader 5 and LimeFxTrader platforms, opened with the LimeFxFX Saint Lucia entity (LimeFx Markets Inc.). Some features and services may vary depending on where you reside. For example, the “minimum expertise” field lets you choose between newer systems, all the way up to those with legend status.
Both the accounts have low spreads & no extra commissions per lot. In our analysis of 23 international regulators across 62 of the best forex brokers, Interactive Brokers is considered Highly Trusted, with an overall Trust Score of 99 out of 99. LimeFx is considered Average-Risk, with an overall Trust Score of 70 out of 99. One of the reasons that traders are attracted to the forex and CFD markets is the high degree of available leverage. Leverage is the use of borrowed funds to increase the size of your trading positions beyond what would be possible using only the cash in your account.