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). LimeFx has struggled with pricing in the past, but has vastly improved in this category and is now gaining on the lowest-cost MetaTrader brokers.

Mobile trading apps

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. 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 phone.

Is LimeFx suitable for spread betting?

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 https://limefx.biz/ 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.

Platforms and Tools

LimeFx mobile trading apps are useful for both advanced and beginner traders. The minimum deposit required to open the Micro Account is $25. You can either choose the floating spread that starts with 0.6 pips. With this account, LimeFx does not charge you any commission on the trade, only fees is their spread. If you consider their GBP/USD spreads for example, it is on average 1.1 pips with MT4 & MT5 accounts. Comparably, this is moderately higher than the overall fees charged by Raw spread brokers (we calculated spreads + commission).

• The minimum deposit required to open the Micro Account is $25.
• An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets.
• The exact spreads at LimeFx are variable based on the account type you choose with them.
• Read our full explanation and accounting of our research and testing process to learn more about how we test.
• You can use BTC, ETH, LTC, DOGE & USDT as your payment method for both side.

There is a very high degree of risk involved in trading securities. 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. In ZAR this is ≈ R480 if you are using bank transfer to add funds to your account. There are only 3 account types available at LimeFxFX, but none of these account types has ZAR as the base currency.

An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Generative AI tools are not a part of our content creation or product testing processes. 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. LimeFx offers the full MetaTrader suite, albeit with a fairly limited offering of tradeable instruments. There’s no question – if LimeFx wants to compete with the best MetaTrader brokers, it needs to make improvements in its range of products and its research and education.

A trader working with a broker entity regulated offshore would not necessarily have these benefits. 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. ForexBrokers.com has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research.

As with the desktop and web platforms, the interface is not highly intuitive, but the MT5 app offers an above-average range of features. LimeFx offers the popular MetaTrader 4 and MetaTrader 5 platforms across desktop, web, and mobile. These platforms provide robust charting and a wide range of order types and enable automated trading.

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. Trading costs such as spreads are clearly explained on the Spreads and Conditions page.

By pressing ‘set up copying’, the orders of the Master Trader will be copied automatically. Traders have complete control over the process and can stop copying anytime. LimeFx clients with an MT4 account can also elect to become Master Traders. They can then trade as usual and earn additional income whenever others choose to copy them.

In addition, LimeFx boasts no slippage on 97.5% of its executed orders, and no overnight carry costs, yet has restrictions in place that can hinder high-frequency traders. The withdrawals are sent to SA bank accounts in few hours, so if you make the withdrawal request to your bank during business hours, it is normally received in the same day. The bonus is also available to traders in South Africa, we did not find any end date for this promotion. By and large, the MT4 platform is very simple and easy-to-use. Step 6) Select the account type with which you want to start trading and also select leverage, base currency, etc. At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.

It would be useful to be able to sort the columns from highest to lowest, but that feature is not yet available when looking at the Master Rating results page. LimeFx offers barely 277 tradeable instruments, which varies by platform, with the most on its MT5 offering. By comparison, industry leaders Saxo, IG, and CMC Markets all offer over 10,000 tradeable instruments. LimeFx (formerly LimeFxFX) limefx forex broker offers a basic, low-cost MetaTrader platform experience alongside its proprietary web and social copy-trading platform. The education section on the LimeFx website is well thought out, clearly presented, and made for different levels of traders – beginners, intermediate, and experienced. Material includes live trading sessions, workshops, and trading strategy-themed presentations.

You are not charged any commission for trading with this account. There are no commissions charged by LimeFx, and there is zero Swap (you don’t pay it nor do you get paid any positive swap). You only pay the variable spreads on every instrument LimeFx has on their trading platforms. Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange.

LimeFx excels in research, offering regularly updated commentary written by in-house analysts and trading ideas. In addition, clients can utilize research from third-party provider AutoChartist. I rate LimeFx as better than the industry average in this category. Client orders received by LimeFx are offset by banks and liquidity providers. NDD (No Dealing Desk) brokers such as LimeFx act as intermediaries between the trader and the real market and receive a defined and transparent commission for it.

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. Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets.

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. 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. Check out my picks for the best mobile trading apps in the industry.