There are multiple methods to deposit and withdraw from South Africa at LimeFx. LimeFx does not charge any commission for deposits and withdrawals with any of the available methods. It must be noted that the withdrawals can only be made through the methods used for funding the LimeFx account.
To trade on the financial markets, traders need to verify their details. The email and phone number will be verified through one time password (OTP). The address and identity of the trader need to be verified through documents like a passport, national identification card, etc. Multiple accounts can be opened at LimeFx and all accounts can be managed here. The regulatory license held by the broker defines the safety of traders and their money. LimeFx is a market maker and can also take the other side of the trade.
Is LimeFx Regulated?
Investors can execute millions of trades without incurring commissions; The LimeFx Pro Account has a very low spread when compared to other forex brokers in the market. Any seasoned trader would like to put their money into forex brokers with lower spreads. According to the https://limefx.club/, it has a wide range of accounts to offer when it comes to account types to choose from. These accounts are varied in nature and designed to suit everyone interested in trading. Before the advent of the internet, investors had to seek the help of a stockbroker to buy a stock trading account. But now, people are relying more and more on online brokerage firms that provide various options for investors to buy and sell mutual funds, bonds, and equities.
For those who’d like to monitor the markets and execute trades while on the go, this broker also offers a mobile app that’s compatible with iOS and Android devices. LimeFx offers an impressive array of trading instruments that cater to various markets and LimeFx preferences. These include forex, commodities, indices, cryptocurrencies, and stocks. LimeFx is a brokerage company offering trading services for clients
Seychelles, Saint Martin, British Virgin Islands, South Africa, United Kingdom, European area and France.
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We have separately reviewed all the components of the trading cost that can be incurred by the traders. For the purposes of the review, we tested the live chat service and email. We tested LimeFx’s live chat and found that the customer service agents were polite and helpful.
All the accounts except the Standard Cent account can be opened with ZAR as base currency which is a plus point for the South African clients. Overall, we consider LimeFx a safe broker to trade with, though with some misgivings. Its retreat from the EU/UK market due to tougher regulation is a concern, but it is regulated in multiple regions. For the purposes of this review, we tested all three platforms – LimeFx’s web trader platform, MT4, and MT5. It allows you to view trading signals, curated by TradingView for each instrument, which is very convenient. Additionally, it’s simple to place orders, set price alerts, create watchlists, and view live prices and charts.
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We already discussed some of the various features that are available through the different LimeFx platforms. However, there are some other aspects in terms of analytical tools that you can find on their platforms. Users are presented with a virtual amount of USD 10,000, which they can trade as they please. Once they are comfortable using the platform and/or have developed their strategy, they can switch to a live account.
We do not present any LimeFx advice or guarantees for the accuracy and reliability of the information. Also, always consider LimeFx rollover or overnight fee as a cost, always good to check all additional fees to get better picturee. Each instrument charges a different quote for overnight positions, which may be as a fee or a refund, see sample on some of the instruments above. These are the main steps to get started and open Real Trading account, yet we recommend to start with Demo account and practice trading first. And of course, always learn how to use leverage correctly, as leverage may increase your potential loses as well and is a different feature in various instruments.
How do you deposit in LimeFx?
There are some traders who started this business individually and now they have made their own companies. In this post, we will discuss such a trading agency that has grown a lot and earned great reputation in the field of trading. Some kind of reward may be provided from time to time based on certain campaign conditions. Less financial products offered as compared to other online brokers of the like. Swap rates particularly those on leveraged overnight positions are applied as mentioned in the Client Agreement. Fees and commissions may vary depending on the trade size or instrument the client is trading.
There are also 97 forex currency pairs available to the traders to choose from. They can also enjoy access to free VPS hosting, along with the updated financial market analysis and Dow Jones news and features like a trader’s currency converter and calculator. Through this LimeFx review 2023, you will get detailed information about the features and other different aspects of this broker. On paper, LimeFx is a decent all-round broker for most traders, whether beginner or more experienced. It offers support for MT4, MT5, and its own proprietary platform, 24/7 customer service, low-cost entry-level accounts, and good trading conditions on the Pro Accounts. However, LimeFx offers high levels of leverage to traders, which in combination with low minimum deposits, could increase their risk of an account wipeout.
LimeFx offers a wide variety of deposit and withdrawal options, including bank card and Perfect Money. The minimum deposit and withdrawal amount is around 10 USD, making it affordable for traders who wish to start with a small amount. Deposits are processed within 30 minutes and withdrawals within 24 hours, ensuring quick availability of funds for traders. The spreads at LimeFx are low and multiple choices in account types are available.
- This means you are provided with a safe and secure trading environment.
- Also, check on the payment methods, as some of them set a minimum transfer amount.
- In October 2018, the company decided to close its retail operations based in the UK and Cyprus due to a lack of competitiveness and other factors.
- For some countries, inflation has been a runaway train since the lockdown years, but there are signs that some economies are taking back control, despite persistent whispers of an imminent global recession.
- The LimeFx Group has established its existence in various countries and has its firm regulated.
Regulated and authorized by LimeFx UK Ltd, and LimeFx CY Ltd, LimeFx is a good broker firm that has created a niche trading environment for new as well as seasoned traders. They have no hidden commission and an opportunity to trade several CFDs in different places makes it a reliable and stable platform. The Social Trading mobile app is a platform that allows investors to replicate active traders (also known as strategy suppliers) to profit from profitable transactions.
With numerous options available, it’s important to conduct thorough research to ensure you choose a broker that meets your specific trading needs. A proper background verification should be done when a new trader wants to open a trading account in any brokerage firm. This should include examining what the firm offers, trading fees, trading accounts, and other features. Compared to all the list forex brokers, LimeFx limefx review has attractive trading plans like hassle-free registration, tick history, demo trading accounts, minimal trading fees, forex pairs, and many more. The company’s commitment to security, regulation, and transparency further solidifies its position as a trusted broker. With numerous options available, it’s important to conduct thorough research to ensure you choose a broker that meets your specific trading needs.
Traders can choose between MetaTrader 4 and MetaTrader 5 as web trading platforms. The MT5 trading platform is not supported with the Cent Account type but both platforms are available for all other account types. Overall, the variation in the fees and trading conditions of multiple account types makes it a suitable choice for different types of traders. The flexibility in account types is advantageous to South African clients as they can choose the most suitable account according to their trading strategy and objective. In addition, the Standard account minimum deposit depends on payment system, and the Raw Spread account, along with the Zero and Pro accounts, have a minimum deposit of $500. Furthermore, there are no fees or charges on deposits and withdrawals, making the broker a better platform for trading.
However, it should be noted that in 2019, LimeFx shifted away from the retail trading sector in the EU/EEA and focused on B2B (Business-to-Business). Would need to find another broker unless they were looking for a white-label solution. Whether you are new in the field of trading business or an experienced person, trading with LimeFx group will give you many benefits. This well-reputed company has been working in this field since 2008 and now the company understands every bit of this business. Your deals will never turn into your failures but you will earn big profit. However, if the clients want to download the platforms that will be at their own discretion as downloading LimeFx is not mandatory.
I like the trading fees at LimeFx and the absence of swap rates on leveraged overnight positions on several assets. It ensures traders can have a competitive edge, generating more profits from existing strategies versus more expensive brokers. LimeFx also has excellent order and volume statistics, confirming a cutting-edge trading environment and infrastructure. In terms of deposits and withdrawals, LimeFx does have more options than your typical broker.