LimeFx classifies the MT4 trading account for the Traditional Trader and MT5 for the Innovative Trader. One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check them before evaluating the total trading costs. LimeFx developed a proprietary copy trading service, expanding into a sector that is gaining popularity, especially among younger traders.
How does LimeFx make money?
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. With more than a decade of experience and 6.6 million trading accounts from over 100 countries, traders should be able to have trust in LimeFx. Beginner traders get the most educational value from webinars, which LimeFx also publishes on its YouTube channel.
Wolf of Uzbekistan, Which Made $19,000,000 Out Of $1000 In 2 Years
By sharing a referral link the trader will receive a commission per volume traded by their friends. LimeFx accepts all the most popular payment methods including VISA, Bitcoin, Neteller, and MasterCard. Furthermore, deposit and withdrawal fees applied by third parties will also be covered by LimeFx. MetaTrader 4 platform is well-known for its dependability and full capabilities. MT4 provides comprehensive technical analysis tools, a user-friendly interface, and automated trading capabilities via Expert Advisors (EAs). Yes, once your deposit is credited to your LimeFx account, you can start trading immediately.
Islamic account feature released
You can open the MT5 Account with LimeFx with a minimum deposit of $25. This account offers only a floating spread that begins with 0.2 pips. 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. It is one of the best Forex trading brokers, with around 1.5 million users in 100 countries.
- Their spreads with this account are lower compared to the MT5 account.
- LimeFxFX only has a spread-only account, meaning no commissions are charged in addition to the spread.
- It also includes $31M in bonus funds LimeFx paid over the past eleven years.
- There are prizes of $500, $300, and $100 for the first, second, and third positions, respectively.
- The amount of required margin will be deducted from ‘Free margin’ field, which also comprises of your floating profit or loss and deposit bonus if you claimed one.
Leverage, volume, required margin
Additionally, I recommend that new traders seek in-depth education from third parties covering trading psychology and avoid paid-for education. LimeFxTrader offers a selection of 80 trading instruments, including currencies, metals, energies, indices, and cryptocurrencies. No overnight charges and no commissions are charged when using this trading platform.
Trading Fees
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. https://limefx.name/ 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.
Its mobile trading and copy trading service apps remain highly popular, with over 10 million downloads. MetaTrader 5, or MT5, is a next-gen multi-asset trading platform that will replace MT4 in the very near future. Its back-testing functions are not only faster than those of MT4, but it also allows simultaneous multi-pair testing.
There are only 3 account types available at LimeFxFX, but none of these account types has ZAR as the base currency. You can trade through LimeFx with any of the 3 trading platforms that the broker offers. The forex market is a worldwide trading market that trades currencies.
The main appeal of this broker is that you can use it if you want unlimited swap-free trading. This feature is a unique offering given that most brokers limit the swap-free period, replace the swap fee with an administration fee, or require you to prove your Islamic faith. Aside from no swaps, there isn’t that much distinctive about LimeFxFX. Traders conduct limefx website all financial transactions from the secure back office, and LimeFx does not charge deposit or withdrawal fees. Third-party costs may apply, and I recommend traders check with their preferred provider. I like that LimeFx offers several cryptocurrencies, but I am missing more third-party payment processors and localized options, especially for its core markets.
The U.S. dollar remains the dominant player in the Forex market, involved in 88% of transactions, while the euro follows in second at 31%. Interestingly, Singapore’s share of global FX trading has increased to 9%, reflecting its growing importance in the Forex market. Despite their reliability and low risk, SSBs currently offer returns of around 3% per annum, making them insufficient for substantial wealth growth. Stocks on the Singaporean stock exchange can yield better returns, but they don’t diversify investors out of the Singapore dollar (SDG). If you have any questions regarding the market, LimeFx website or trading conditions you can check our elaborate and comprehensive FAQ.
From 2020 to 5 April 2022, Shohjaxon’s trading volume or account balance reached approximately $19 million. He is renowned for his transparency and honesty, sharing his gains and losses with his followers. In October 2021, the Forex Legend turned $49,600 into $1,180,000 in 24 days without recording a single loss.
LimeFx also offers a copy trading feature that allows you to follow the trades of more experienced traders learn from their successes and avoid their mistakes. Overall, with good support accompanied by low trading fees, abundant tools, LimeFx offers a great trading platform for beginner traders as well as Pros. Advanced traders will appreciate the narrow spreads, zero commissions, and accessibility for all trading strategies. All traders are offered segregated accounts and negative balance protection by LimeFx. Be at ease if you are a beginner; LimeFxFX is a beginner friendly broker. Since LimeFxFX is offering three different types of platforms, that is, MetaTrader 4, MetaTrader 5, and cTrader, the conditions of commissions and costs vary depending upon the account.
It could earn Shohjaxon, the Wolf of Uzbekistan, a world record as one of the most prominent traders in history. One of the most impressive aspects of his story is his capacity to absorb knowledge and turned into practical applications to trade currencies. Our investigation indicates that Shohjaxon had no mentors and, in less than a decade, read over 320 books on the Forex Market to develop his trading style and strategies.
The EU entity of LimeFx clearly states its regulatory status in the website’s footer. The offshore entity also references its corporate registration number with the Saint Lucia authorities at the bottom of each page. However, there is room for improvement in terms of being clear about the unregulated status of the offshore entity.