CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Our review of the broker Vantage Markets (formerly know as VantageFX) finds, that their investors and day traders have the option to use the classic MetaTrader 4 or the powerful new MetaTrader 5 (MT5) trading platform.
- You have fast customer support but your slippage is the worst.
- Myfxbook integrates with MT4 (not MT5) and provides an automated social trade copying service from its community of over 90,000 providers.
- Rather, you’ll be charged a fee on positions, which is deducted from your account balance.
- Based on our thorough, data-driven testing of each broker’s commissions and fees, we found that LimeFx offers better pricing overall for traders.
For a more comprehensive, in-depth look at the broker’s services and features, simply expand on the sections below. In comparison, LimeFx provides trading with MetaTrader 4, MetaTrader 5 with the support of One-click trading, Trailing stop, Pending orders. The awards add to the company’s impressive record of accolades this year, including ‘Best Trade Execution’ and ‘Most Transparent Broker’ at the Ultimate Fintech Awards APAC 2023 in June this year. LimeFx offer many different ways to contact their representatives, and customer service is open 24/7. The selection of stocks is very limited if you are using the MetaTrader 4 trading platform.
So you are better off using the MetaTrader 5 or IRESS (Australia only) when trading stocks. LimeFx is really a CFD broker since they offer more than just forex CFDs. In addition to the 60+ currency pairs, you can trade various other assets. You can get help from Expert Advisors (EAs) to execute trades, and there are even options for copy trading, which means you can copy the moves of more experienced traders to both earn and learn more.
Faster execution
We liked the quality of the trading ideas; the analyses are up to date and a new piece is published almost every day.Autochartist is another tool that can be used via the MetaTrader platforms. Autochartist recognizes charting patterns and it gives an idea about the trading direction based on these patterns. To download this tool, you have to log in to the client area and then click ‘Trading Tools’. The web trading platform is available in several languages. Withdrawal fees also vary based on the method you want to use.
There are several excellent educational tools, such as demo accounts and e-books. It is widely known that forex brokers offer other trading instruments other than currency pairs. The offer gives interesting choices for traders to explore other markets that may be proven beneficial for them and to diversify their trading portfolios.
LimeFx doesn’t have an in-house developed trading platform. It uses third-party trading platforms, which differ in the range of tradable products, platform fees and minimum deposits. In conclusion, deciding the better broker eventually comes down to your consideration. If you are an active trader, it is better to choose a broker with a variable spread that is generally lower than the fixed one.
The main reason to use IRESS is to access LimeFx full range of stocks and to use DMA trading. If you are looking to trade stocks outside Australia with LimeFx then you are best to use the MT5 trading platform or consider TMGM who have IRESS outside Australia. LimeFx social trading platform is similar to Myfxbook in that it is a social trading platform that allows you to automate the copying of other traders but is only available for traders in the UK. You can use either MT4 or MT5 but some providers may limit which platform you can use. As we’ve touched on already, fees and pricing work slightly differently on the IRESS account. For one, you’ll have to pay a $55 per month fee for some of the accounts (as outlined in the trading accounts section), although it can be waived if you meet certain criteria.
It goes against our guidelines to offer incentives for reviews. We also ensure all reviews are published without moderation. We use dedicated people and clever technology to safeguard our platform. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. We tested it and collected the options and costs in How to withdraw money on LimeFx. Our ultimate guide to the LimeFx minimum deposit is updated regularly.
- Plus, you can trade five cryptocurrencies (Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Litecoin), more than 10,000 stocks, and 19 global indices (such as NASDAQ 100, S&P 500, and EUREX).
- In this case, supports trading with
, while
LimeFx presents the ability of trading with
Forex, Indexes, Metals, Crypto, ETFs, Stocks, Commodities, Gold & Silver. - If you are looking to trade stocks outside Australia with LimeFx then you are best to use the MT5 trading platform or consider TMGM who have IRESS outside Australia.
- After the slippage incident, I was not able to see the trade history in my chart until a few hours later, I wonder why?
- A very straightforward platform to use,easy and hassle free set up.Easy access to obtaining information and are kept well informed about any changes.
The Iress platform suite offers well over 9,000 tradeable symbols, but it’s mostly a share trading platform – and is generally a much pricier option. My enthusiasm to explore an extra income stream led me to overlook all the red flags surrounding this company. When they emptied my account, leaving me with an overwhelming overdraft of $42,000, I finally realized I’d been deceived. My primary goal was to withdraw my money, but that’s when the nightmare began. They persistently pressured me to pay for the bonuses injected into my trading account, promising it would all be returned.
EURUSD
For the trading platform, MetaTrader 4 is the standard choice for every trader. But if you want to have a different experience with a more advanced platform, choose the broker that provides alternative platforms. The same goes for trading instruments; if you want to try delving into different markets, seek for a broker with more options on trading instruments. In a sea of different trading platforms that all have very similar offerings, it’s tough to stand out, but LimeFx really does go above and beyond. Above all, its ECN-style pricing is hard to beat, and the range of assets you can trade and types of accounts and trading platforms available are other winning features.
MT4 is easily the most popular platform for forex trading — don’t be fooled by MT5 sounding like the new and improved version, because most people still use number 4. It offers pretty much everything you could ever need, including a wide range of features like technical indicators and live price streaming, and a seamless interface. Otherwise, most forex fees are built into the spreads, except for forex and metals on the RAW account. In this case, the fees are the same as those charged on other accounts. The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. Forex traders also appreciate the ability to engage in social copy trading.
Commissions and fees
You can easily change the size and the position of the tabs.On the other hand, the platform feels outdated, and some features are hard to find. For example, it took us a while to figure out how to add an asset to the watchlist. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you won’t have to pay a conversion fee. We compared LimeFx’s fees with those of IC Markets and Pepperstone, two similar brokers selected by our analysts. This selection is based on objective factors such as products offered, client profile, fee structure, etc. We also drew up a more detailed rundown of LimeFx alternatives.
Which one has the better spread?
LimeFx has a medium level of regulation with one tier-1 regulator (ASIC), one tier-2 regulator (CySEC) and two tier-3 regulators. Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).
The longer the track record of a broker, the more proof we have that it has successfully survived previous financial crises. LimeFx has no banking background and is not listed on any stock exchange; both would provide an added layer of security and transparency. LimeFx provides only a one-step login for its mobile platform. A two-step authentication limefx broker reviews would be more secure and adding this feature should be high on any company’s list of security changes. After beginning the registration process, you’ll be prompted to enter your personal details, including your name, address, and experience as an investor. To ensure you have the best MetaTrader experience, LimeFx also includes the ‘Traders toolbox’.
Each year we publish tens of thousands of words of research and detailed forex guides, and we monitor dozens of international regulator agencies (read more about how we calculate Trust Score here). LimeFx is a great CFD and forex broker https://limefx.group/ regulated by the top-tier Australian Securities and Investments Commission (ASIC). It offers low forex fees and does not charge an inactivity fee. Both account opening and depositing are fast, and you’ll find high-quality educational tools.
What about the minimum deposit?
After making a declaration regarding your experience with trading, you’ll finish the sign-up process and be given an account number. However, for an account to be activated (which allows you to actually trade), you’ll need to prove your identity and your address. In addition to automated copy, MyfxBook provides statistics to help you with your trading.
