These usually offer bank accounts in several currencies with great currency exchange rates, as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone. 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 https://limefx.group/ 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.
- Based on our thorough, data-driven testing of each broker’s commissions and fees, we found that LimeFx offers better pricing overall for traders.
- This selection is based on objective factors such as products offered, client profile, fee structure, etc.
- At ForexBrokers.com, we track over 100 international regulatory agencies to help you choose the most well-regulated, highly trusted forex brokers.
- I don’t want to proceed with my registration or endure the unpleasant phone conversations.
However, spread information among brokers is not easy to get, as not every broker transparently publishes their spreads data. Yes, LimeFx is a safe forex broker by all industry standards. This brokerage trading firm is regulated in three tier-one jurisdictions (FCA, ASIC and CySEC) and your money is held in segregated accounts with leading banks (National Australia Bank or Commonwealth Bank of Australia). While fpmarkets.com is a regulated broker with multiple regulators around the world, its head office is based in Sydney. Still, you might want to consider an alternative if you plan to trade outside of Australia and Europe (since LimeFx isn’t subject to the same regulation outside these regions).
I am blessed to find LimeFx
Also, if you’re a long-term trader and only prepared to trade on a Standard account, you might find the spreads excessive since you can’t take advantage of the low spreads. The Standard and Platinum accounts have a $55 monthly fee for trading, but this is waived if you generate at least $150 a month in commissions; meanwhile, the Premier accounts waive the fee regardless of activity. Also, the non-Premier accounts require you to pay $22 for ASX live data unless you generate $50 a month, but this is again waived for the Premier account. Are you paying too high fees for your securities account?
There are more than 60 trading forex pairs available on LimeFx, which is enough to rival pretty much any major forex trading platform. 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. 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.
Myfxbook integrates with MT4 (not MT5) and provides an automated social trade copying service from its community of over 90,000 providers. This platform has a rigorous screening process to ensure only quality traders can provide signals to their followers. This process helps remove the need for you to filter through poor performing providers. The IRESS trading platform is for clients with the Australian arm of LimeFx only. This platform is best if you are intending to trade stocks (however a limited number of CFDs are available.
LimeFx provides only a one-step login for its mobile platform. A two-step authentication would be more secure and adding this feature should be high on any limefx broker reviews company’s list of security changes. The web trading platform is available in several languages. Withdrawal fees also vary based on the method you want to use.
If you’re an experienced trader, it tends to be advantageous to opt for a raw account to take advantage of lower spreads. This makes it easier to do scalping, day trading, and other similar activities. This type of account is sometimes called an STP or ECN account since there is no dealing desk which means spreads are provided by the liquidity providers without price intervention from the broker. 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.
What are stock CFDs?
In our analysis of 23 international regulators across 62 of the best forex brokers, LimeFx is considered Trusted, with an overall Trust Score of 87 out of 99. Vantage is considered highly trusted, with an overall Trust Score of 90 out of 99. IBs have access to their clients’ traded volumes and networks, with the ability to produce bespoke reports using advanced analytics tools.
All LimeFx trading platforms have an impressive range of features. You’ll be able to open and close positions automatically, trading tools for charting and technical analysis, access the latest news and data. Autochartist is also included which alerts you of trading opportunities via email and notifications on the mobile app. LimeFx is has one lowest spread and is regulated with ASIC and CySEC regulations. Our LimeFx review found this Forex broker has a good trading platforms, a wide range of CFD markets as well as fast execution speeds. LimeFx is a great CFD and forex broker regulated by the top-tier Australian Securities and Investments Commission (ASIC).
Your profit or loss is based on the difference between the opening and closing price of the CFD. We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly. LimeFx requires a minimum deposit of $50 before you can open an account and start trading forex. After beginning the registration process, you’ll be prompted to enter your personal details, including your name, address, and experience as an investor.
It’s not always immediately obvious whether a broker offers stock CFDs or only real stocks. And even when stock CFDs are available, fees are sometimes high and product selections can be thin. At ForexBrokers.com, we track over 100 international regulatory agencies to help you choose the most well-regulated, highly trusted forex brokers.
Performance-driven technology and ultra-low spreads
While forex products are traded via ECN (Electronic Communication Network), CFD products use different channels in the form of DMA (Direct Market Access). The advantages of DMA CFDs are lower spreads and faster execution, because orders are passed directly to the underlying market without any intermediate participant, such as a dealer or a market maker. However, in some cases, it does charge deposit fees, and it may vary based on the trading platform and the way you want to fund your account. You can choose from several options when it comes to funding your account.
You also have the option to sign up using your Google or Facebook account. To register a new trading account, head over to LimeFx’ official website and click “Open Live” in the top right corner or “Start Trading” in the middle of the screen. Later on, you can update your personal information by sending a request via email using your registered email address.
Author of this review
The Iress ViewPoint account option is less affordable, and is geared towards active traders with high-balance accounts. It’s worth noting that LimeFx’ share CFD offering on Iress provides Direct Market Access (DMA) in terms of its pricing and execution process, including full depth of book available within the platform. Secondly, Plus500’s competitive fee structure is appealing to US traders. The broker charges zero commissions on most trades and has tight spreads on various assets, making it cost-effective for active traders. Additionally, Plus500 does not impose deposit or withdrawal fees, which can save traders money over time.