When accessing this website from a country in which its use may or may not be prohibited, it is the user’s responsibility to ensure that any use of the website or services adhere to local laws or regulations. LimeFx does not affirm that the information on its website is suitable to all jurisdictions. A Shares Account requires a minimum Deposit or withdrawal of $10,000. The initial $250 Deposit Bonus stays in your Account to help your future trading activities if you’ve completed the prerequisites for trading activity and earned a profit of $300 through your transactions.
Review Methodology
Having traded since 1998, Justin is the CEO and Co-Founded CompareForexBrokers in 2004. Justin has published over 100 finance articles from Forbes, Kiplinger to Finance Magnates. He has a Masters and Commerce degree and has an active role in the fintech community. He has also published a book in 2023 on on investing and trading. Traders can use Expert Advisors (EAs) for market scanning and automated trade execution, with the ability to create EAs using MQL4 or download them from the MetaTrader Marketplace. The online broker has no regulatory issues on record during its 15 years of business.
2. How Much May I Deposit and Withdraw at a Time?
This is because certain deposit methods may be cheaper, while some withdrawal methods may be more expensive. By allowing traders to use different payment methods, they can minimize costs. I am not sure if LimeFx has the same policy, but I am curious as to why they require the use of the same payment method for both transactions. As for LimeFx, they might offer trading accounts in other currencies for the convenience of clients in those regions. However, it’s important to keep in mind that no matter what currency you use to trade, the value of your positions and profits/losses will still be calculated in the account’s base currency.
Bank transfer flow
It acts as a protective measure, making sure that no unauthorized withdrawals occur. LimeFx Group is a group of regulated brokers and it is owned by Trading Point Holdings Ltd. Entities under LimeFx Group have significant experience as financial services providers worldwide.
Step 3: Choose Deposit Methods
On the other hand, the Zero account type offers spreads starting from 0 pips. Your multi-asset trading account login details will correspond to a login on the trading platform which matches your type of account, and it is ultimately where you will be performing your trades. Any deposits and/or withdrawals or other setting changes you make from the LimeFx Members Area will reflect on your corresponding trading platform. LimeFx offers tight spreads as low as 0.6 pips on all major currency pairs irrespective of account types and trade sizes. This review of LimeFx is grounded in CompareForexBrokers’ comprehensive and methodical approach.
Brokers have to ensure that the withdrawal requests are legit and that they are sending the funds to the right person. This involves some security checks and confirming your identity, which takes a bit of time. The other method, I suggested E-wallets because these methods are popular because they’re fast and secure, and some of them have lower fees compared to other options. Skrill and Neteller are a couple of e-wallets that LimeFx Markets accepts, and PayPal is available in some places too. If you’re looking for a quick and easy option, credit/debit cards might be your thing and I agree with the above comment.
By proceeding with opening an account, this will be registered with LimeFx Global Ltd, which is authorized and regulated by the Financial Services Commission (FSC) in Belize. LimeFx Global Limited falls outside the South African regulatory framework and Belize’s laws and regulations will apply in relation to your account. For joint accounts, the LimeFx account must be opened in the name of any one of the joint account holders. LimeFx Global Limited does not provide services for the residents of certain countries, such as the United States of America, Canada, Israel and the Islamic Republic of Iran.
One of the recent awards they have received is being named as the best FX broker in Europe in 2018 by the World Finance Magazine. Clients who choose the MT5 platform have access to a wide range of instruments ranging from currencies, cryptocurrencies CFDs, stock indices CFDs, gold and oil CFDs, as well as stock CFDs. Brokersway is a website that provides unbiased reviews, ratings, and comparisons of online forex and CFD brokers.
Traders should always note that Overnight fees, otherwise known as swap fees or rollover fees, may be charged for positions held open for longer than a day. 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). Read our full explanation and accounting of our research and testing process to learn more about how we test.
LimeFx withdrawals are processed within 24 hours and there are no fees charged. You can expect different timelines to actually receive funds back with you, depending on the method chosen. Additionally, bank transfers above $200 are exempt from fees under our no-fees policy, albeit there may be fees from the bank or a third-party service provider. Execution is swift, no slippages, tight spreads, and many trading instruments and tools. And if your broker (eg LimeFx) offers segregated accounts and is registered with the regulators, your funds are actually segregated from the broker. If they don’t separate the funds from the broker’s operating money, I think it’s better not to interfere.
- If you are a resident of any of the below Countries, you will find that LimeFx do not support onboarding at this time.
- This includes leading indices such as S&P 500, ASX200, Nasdaq (NAS100), VIX, Dow Jones, FTSE100, DAX, CAC40, Nikkei225 and Euro Stoxx 50.
- They claim on their website that LimeFx Global Limited (IFSC) is the product provider, meaning this entity is the market maker, and their local entity is only an intermediary.
- LimeFx is considered a moderate to high risk broker for traders in South Africa because of the fact that they are not locally regulated.
- When it comes to choosing a broker, there are many factors to consider—and one of the most important is whether the broker is regulated by a reputable authority.
Apart from that, I chose the withdrawal time at the time when the broker was not operating, maybe because there was a national holiday too. So this can also cause the withdrawal process to take a long time, which must have been processed within 24 hours to beed. Maybe this can be noticed when you want to make a withdrawal, sometimes we traders don’t know about it. All client withdrawal requests will be processed in the currency in which the deposit was originally made. If the deposit currency is different from the transfer currency, the transfer amount will be converted by LimeFx to the transfer currency at the prevailing exchange rate. Once the transaction is processed, the recipient can collect the funds at another Western Union location near them.
In total, there are 356 different CFDs offered by LimeFx, with five of these being cryptocurrency CFDs. There are 57 currency pairs on offer and they don’t offer any ETF products. This includes over 350 CFDs, as well as 57 currency pairs and https://limefx.vip/ 5 cryptocurrency CFDs. LimeFx is regulated by the FCA in the United Kingdom and they have European passports with the MiFID, as well as being regulated by the CySEC in Cyprus, as well as being regulated in Australia as an ASIC entity.
LimeFx offers a diverse range of over 1,250 CFD trading products, including forex, shares, indices, and commodities. The commission fee of $3.50 aligns with the industry standard, as seen with brokers limefx scam like IC Markets, Pepperstone, and FxPro, all charging an identical rate. However, certain brokers like LimeFx and GO Markets are slightly more competitive when it comes to commission costs.