LimeFX offers a strong range of over 1,000 instruments, particularly in forex, stocks, and indices, which are key markets for active traders. This swap-free option is designed for traders adhering to Sharia law. It eliminates overnight interest charges, making it suitable for those seeking trading opportunities that align with Islamic finance principles. Depositing and withdrawing funds with LimeFX is a convenient and secure process.
How do I open an account with LimeFX?
Since the company doesn’t charge interest on overnight positions, clients can trade their preferred financial instruments without going against their religious beliefs. Although Islamic accounts are not offered as a stand-alone product, clients can request the company to switch their conventional account types to Islamic ones. A spread is a difference between a financial instrument’s ‘bid’ and ‘ask’ prices. The broker’s spreads on all types of assets seem to be competitive. The minimum spreads for forex and other tradable instruments are listed in the table below. This LimeFX review will take a deep look at various factors you must consider while signing up with the company.
Each account features advanced trading conditions, education, research and 24/7 multi-lingual support. Currency pairs, metals, energies, indices and cryptocurrencies are included on all accounts. Trading financial products carries a high risk to your capital, particularly when engaging in leveraged transactions such as CFDs.
Islamic (Swap Free) Accounts
While many traders will be happy with this, it’s worth noting that LimeFX doesn’t currently offer CFDs on other precious metals such as Platinum and Palladium. Not a deal-breaker by any means, but something worth bearing in mind if you’re looking to trade CFDs on multiple precious metals. Withso many CFD instruments to choose from, LimeFX gives traders thechance to diversify their portfolios and take advantage of multiple market opportunities. Expert Advisors, which arealso known as EAs, are pieces of software that automate trading methods basedon rules that have already been set and can be used on LimeFX’s trading systems.
How do I deposit into an LimeFX account?
While LimeFX does allow scalping, since most accounts are commission free, their spreads will be wider compared to a RAW account. For this reason, there are better brokers to consider but if you wish to scalp trade with LimeFX, your best account would be LimeFX Ultra Low Account. LimeFX offers guaranteed negative balance protection across all accounts, ensuring traders don’t owe more than their account balance. This protection includes a 50% margin call and a 20% stop-out level to manage potential losses.
Pros and Cons of signing up with the broker and customers’ feedback on different platforms like Reddit, Quora, Forexpeacearmy, and Trustpilot will also be looked into. There are 1,500+ LimeFX trading instruments and the broker seems committed to providing first-rate services in the foreign exchange market. While clients have 1,250+ stock CFDs, 50+ forex pairs, 13+ equity indices, 30+ crypto CFDs, and 15+ commodities to scammed by limefx trade on LimeFX. Since the company doesn’t deal in real cryptocurrencies, clients registered with the broker can only trade them as derivatives. We will discuss the broker’s regulations, verification processes, deposit & withdrawal options, minimum spread, maximum leverage, online trading fees, and investment safety measures. LimeFX’s fees are reasonable but can be bettered at brokers like LimeFX and Fusion Markets.
LimeFX may charge overnight financing fees for holding CFD positions overnight. These fees limefx scam can vary depending on the instrument and market conditions. Overall, LimeFX’s account offerings exhibit versatility and inclusivity, catering to a wide range of traders’ preferences and needs.
LimeFX is a competitive choice for novices as well as more experienced investors. Having regional offices in Greece, Cyprus and Australia, the company serves clients worldwide. While its product portfolio is not as extensive as other brokerages, clients can still find sufficient tradable assets to trade across multiple financial markets. The broker keeps clients’ investments in segregation with its own capital, ensuring clients have real-time access to their funds.
- In my experience, the really important aspect of a chart is how easy it is to scale price action up and down.
- LimeFX recommends to its clients to make surethey understand how CFD trading works and whether they can afford to take therisk of losing money.
- LimeFX’s mobile trading apps, available for both MetaTrader 4 and MetaTrader 5, offer full functionality, mirroring the capabilities of the desktop and WebTrader platforms.
Minimal withdrawal amounts, however, will depend on the transfer type and are typically a little higher. To deposit funds and start trading, I had to complete the standard KYC procedure by submitting Proof of Identity (POI) and Proof of Residence (POR). When holding positions overnight, traders might incur swap rates, also known as overnight fees. These rates can be both positive (credited to your account) or negative (debited from your account) and depend on the interest rate differentials between the currencies being traded.
