Adding more advanced video courses would only serve to improve LimeFx’ educational experience. Yes, based on your detected country of FI, you can open an account with this broker. Neither have Int’l Stock Trading (Non CFD) and Cryptocurrency (Physical). After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we’ve determined that Vantage (90) earned a higher Trust Score than LimeFx (87). If you are an existing client of Vantage, please share your experience with other readers in the comment section below. Yes, They are regulated by four government regulators, depending on your location.
The two main account types available are the Standard and RAW accounts, which offer slightly different pricing models. Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site. All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Generative AI tools are not a part of our content creation or product testing processes.
LimeFx doesn’t charge an inactivity fee or account fees, except for the IRESS Trader platform. Here, a monthly fee of AUD 55 is charged, unless you generate at least AUD limefx review 200 in monthly commissions or hold a balance of AUD 50,000. For a comprehensive comparison of forex fees charged by various brokers, use BrokerChooser’s FX fee calculator.
- 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.
- We tested it and collected the options and costs in How to withdraw money on LimeFx.
- In January 2021, LimeFx announced a new mobile app, available for both iOS and Android.
- This makes it easier to do scalping, day trading, and other similar activities.
- 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.
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. Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker’s commissions and fees, we found that LimeFx offers better pricing overall for traders. Vantage rounds out its MetaTrader platform suite offering with support for multiple social trading platforms, content powered by Trading Central and a proprietary mobile app.
A very straightforward platform to…
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. If you live in Australia, you’ll be able to open an IRESS trading account instead, which isn’t a million miles away from the accounts outlined above but does work differently. You would only choose this account if you want to trade stocks however selected other CFD products are available.
- Steven Hatzakis is the Global Director of Research for ForexBrokers.com.
- LimeFx is a great CFD and forex broker regulated by the top-tier Australian Securities and Investments Commission (ASIC).
- If you are unfamiliar with some of these terms or want to learn more, read our overview of order types.
However, international customers will be trading with their Vanuatu or Cayman Islands branch. I’ve requested numerous times to deactivate my account as I no longer wish to use this service. Despite this, I keep receiving persistent calls, and I’ve been informed that they will continue calling. I don’t want to proceed with my registration or endure the unpleasant phone conversations. In contrast, I have a hassle-free portfolio with Assurity Secure LLC, enjoying regular payouts without any intrusive phone calls.
The most two popular types of spread are fixed and variable. The pros and cons between the two spreads can vary for every trader. In this case, provides their pricing with
spread while LimeFx offers
Variable spread. 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).
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To open a forex trading account with LimeFx, you’ll need to make an initial minimum deposit of $100 AUD. We’ve made it easy to compare the best forex brokers, side-by-side. Our editorial team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry.
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. Once you’ve created an IRESS account, you can use it with the IRESS trading platform, but this is made slightly more complicated by there being a few different options. LimeFx also offers Islamic accounts, which don’t involve any swaps or interest on overnight positions to stay in line with Islamic principles.
The brand’s entities are regulated in Australia and Europe, with a total of 95 employees as of 2019. Trading with a broker that is licensed by ASIC is always going to be a wise choice. You know that your funds are secured, and that they follow https://limefx.name/ the laws of Australia. You can read more about licensed Forex brokers, see here. 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.
Should you buy your silver bullets on LimeFx?
It took months until I reached out to 𝐑𝐞𝐜𝐨𝐮𝐩𝐚𝐢𝐝-𝐨𝐫𝐠, who, in collaboration with my bank, successfully recovered all my losses from this fraudulent company. Please, don’t underestimate these reviews; I wish I hadn’t. The financial loss is excruciating, and this company should be brought to justice. While forex products are traded via ECN (Electronic Communication Network), CFD products use different channels in the form of DMA (Direct Market Access).
We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points. Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables. To compare the trading platforms of both LimeFx and Vantage, we tested each broker’s trading tools, research capabilities, and mobile apps. Finally, we found LimeFx to provide better mobile trading apps.
Statistics include performance, drawdown over a certain amount of time and best and worst trades. All three IRESS account types outlined earlier include ViewPoint Essential. Due to the broker only having these entities with regulation, there are many regions that LimeFx can’t onboard traders including the USA, New Zealand and Japan. When it comes to account types, you certainly can’t fault LimeFx for its flexibility, but it does get a little complicated to understand what’s available and what you’re eligible for. Headquartered in Sydney, Australia, LimeFx (First Prudential Markets) was founded in 2005 as an online retail forex and CFD broker.
It now only offers a blog page (Traders Hub) that includes daily market wraps, in addition to regular technical and fundamental analysis. Events are neatly displayed in chronological order; if you click on an entry, you can read a short explanation of the indicator and view some historical data (if applicable). However, you cannot filter or sort entries according to country or indicator. A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. 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.
Unfortunately, you can’t change the default leverage on the IRESS platforms.Always be careful with forex and CFD trading, as preset leverage levels may be too high. Depending on the type of account you choose, commissions may vary (see available account types below). The costs for the ‘ECN Raw’ account include a lower spread cost and a $3 per lot per trade commission.
Overall, forex and CFD traders will be satisfied by the MetaTrader experience provided by LimeFx, though the scope of its research and educational offering are limited, when compared to the best brokers. ScamBroker.com is a broker reviews website, and does not offer any investing advice or service. Nothing on this website should be considered a recommendation or endorsement. We are not responsible for any losses you may incur, by investing with a company mentioned on this website. We may receive compensation from the companies we write about. Always verify that your broker, is licensed by your local financial regulator.