LimeFx Review formerly HotForex year Is it a Legit Broker?
Based on our research on the regulatory status of over 60 brokers, we’ve found that Both IC Markets and LimeFx hold 2 global Tier-1 licenses. LimeFx holds 3 global Tier-2 licenses, while IC Markets holds 0. Based on our research on the regulatory status of over 60 brokers, we’ve found that Both FxPro and LimeFx hold 2 global Tier-1 licenses. Based on our research on the regulatory status of over 60 brokers, we’ve found that Interactive Brokers holds 9 global Tier-1 licenses, while LimeFx holds 2. LimeFx holds 3 global Tier-2 licenses, while Interactive Brokers holds 1.
IC Markets vs LimeFx Comparison
The broker covers all the basics, from a low deposit and easy account funding to a choice of account types, wide market access, and industry-leading trading platforms. Overall, LimeFx is a well-established customer-oriented broker with secure, regulated trading environment suitable for almost every trader. LimeFx offers upgraded MT4/MT5 trading platforms and its proprietary mobile trading app.
What is the minimum deposit for HotForex?
LimeFx has created a new mobile app called LimeFx Trading App, available for both Android and iOS users. The MT4 and MT5 mobile trading options offer advanced capabilities and interactive charts similar to the full versions. The app enhances the trading experience with over 30 technical indicators and 24 analytical objects, making it great for trading on the go. Overall, LimeFx’s platform selection is excellent, offering industry-popular platforms like MT4 and MT5, along with their own trading apps packed with tools and research.
Mobile App & MacOS
Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here). Based on our research, we can recommend XTB for beginners since it did a great job incorporating state-of-the-art educational resources and research tools. XTB’s trading platform is quite user-friendly and the spreads are lower than the industry average. Another great aspect is that it doesn’t have a minimum deposit requirement making it favorable amongst newbies.
Account types
I was also pleased to see that LimeFx does not charge any withdrawal fees, which is competitive vs eToro which charges $5. You can choose between credit/debit cards, bank wire transfers, or e-wallet solutions like Neteller and Skrill. On the negative front, LimeFx does not accept crypto account funding. I found the account registration thorough, including a multiple-choice questionnaire to test my trading knowledge. The Affiliate Partners and Introducing Brokers (IB) program is open to people and groups worldwide.
LimeFx has confirmed that payment have failed but funds have still yet to be credited back to my bank account. Consulted with back end agent, and they have confirmed that payment has failed they will bounce back my deposit but still yet to receive. Getting ridiculous and losing trust in LimeFx as they seem incompetent limefx forex broker in handling client’s funds and don’t take accountability when something goes wrong. The intuitive interface offers sentiment and volatility analysis using financial news and events. You can view sentiment direction changes for specific instruments, and gauge the risk from upcoming releases.
MetaTrader 4
If you’re a trading expert, you can become a regional representative for LimeFx. This means you’ll promote LimeFx in your area and manage an office there, offering brokerage services for LimeFx. This helps new traders, investors, or pros find the right way to trade. These awards show that LimeFx is always working hard to give its clients the best service.
Being able to code is an advantage for building these EAs but if not, we found you can find many free or paid ones in the MT4 marketplace. Lastly, LimeFx earns from B-book execution of some trading orders where LimeFx acts directly as counterparty, earning on losing trades. LimeFx is a CFD (Contract For Difference) Forex broker with execution style based on ECN https://limefx.name/ (Electronic Communications Network) and STP (Straight-Through Processing) models. Also, depending on the method there is a minimum withdrawable amount up to $100. LimeFx (formerly known as HotForex) is an online brokerage firm founded in 2010 in Cyprus, part of the HF Markets Group. Contact us directly for further inquiries about our products and services.
If you purchase a U.S. stock, you own the actual shares; if you purchase or trade a CFD, you don’t own the asset itself. According to our database, 91% of forex brokers allow you to trade U.S. stocks as a CFD, while only 28% allow you to own the stock itself. According to our independent database (currently tracking over 2,200 data points), the average forex broker offers 29 of the 37 products and features currently tracked for our offering of investments category. LimeFx offers 30, which helped contribute to the broker ranking #23 out of 62 brokers overall in this category. It does appear you get good value provided you use the right currency pair. The HF Markets Group has won a number of industry awards, including best stock broker, best trading platform broker, and best forex trading app.
Forex spreads start from 0 pips and there’s a $6/lot round turn commission. Theplatforms come equipped with all the necessary tools and features aprofessional trader needs to trade successfully. For instance, the MT4 tradingplatform supports multiple market orders, utilizes an impressive chartingpackage, and various technical indicators. The Copy account allows you to track the leading traders andcopy their trades.
LimeFx has established itself among the most competitive Forex brokers with a quality mix of products and services. It enables all trading strategies with a cutting-edge trading environment and competitive fees. The bulk of business derives from HF Markets (SV) Ltd, registered as an International Business Company (IBC) in St. Vincent & the Grenadines, registration number IBC 2015.
- The satisfaction rate is good, and LimeFx provides helpful customer support along with support materials.
- LimeFx offers a wide range of tradable markets, including forex trading, stocks, indices, bonds, commodities, ETFs, energy products, and even crypto CFDs.
- FxPro competes among the top MetaTrader brokers, featuring multiple account options and various execution methods.
- You can trade Palladium contracts on Spot markets and avariety of commodities like Coffee, Cocoa, Copper, Cotton, Sugar, and SoybeanOil contracts on Futures markets on LimeFx.
One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check them before evaluating the total trading costs. All websites and web-based platforms are tested using the latest version of the Google Chrome browser.
These PAMM accounts are specialised for trading in Forex, metals, oil, and indices with a minimum trade size of 0.01 lot. Cent account includes transactions and balances in USD cents, with a minimum deposit requirement of $0. The LimeFx Cent account provides access to Forex and gold trading, and features trading in Cent lots, where the minimum trading size available here equals 0.01 cent lots, or 10 currency units. THe LimeFx demo account can be used to test your Forex strategies and LimeFx platforms for an unlimited usage of time.
The base currency options within the LimeFx Zero account include USD, EUR, PLN, NGN, and JPY, depending on the trader’s region and the broker’s entity. The LimeFx Zero account requires a minimum deposit of $0 which makes it readily accessible. The firm protects funds with various safeguards such as segregated bank accounts. It emphasises data security, using encrypted data transmission and storage to protect sensitive information, and employs technologically solid trading platforms like MetaTrader, known for their reliability. LimeFx provides traders with favourable trading conditions thatare considerably better than many other online trading brokerages. Forinstance, traders achieve excellent execution speeds through their premium MT4and WebTrader platforms.
For instance, in Europe and the UK, LimeFx offers its Micro,Premium, and Zero Spread only. They will keep calling you to updates on any changes and will follow up with how is your trade and also if you encounter any issues. We appreciate your positive feedback on our Customer Support team!
If you deposit less than $100 with a bank wire (or less than $250 under the regulation of the Cyprus Securities and Exchange Commission, CySEC), you might be charged processing fees. However, LimeFx will cover these commissions if you deposit more than those amounts. LimeFx may charge a currency conversion fee if deposits and withdrawals do not match the account base currency selected. Additionally, within the European Union, HF Markets provides Negative Balance Protection, which means that traders will never lose more money than they deposit. LimeFx is a trusted and global brokerage firm for online Forex and CFD trading established in 2010, and since then it has garnered a trustworthy reputation in the industry, making it a popular choice globally.
Client funds are segregated, and held by major global banks, in compliance with the regulations of government authorities. This can be a good option if you have a very promising strategy, or if you’re able to find another trader whose strategy you’d like to follow. HF Markets Ltd, formerly Hot Forex is a forex, stocks, and CFD broking company owned by the HF Markets Group. We think LimeFx’s (also called HF Markets and formerly Hot Forex) offering is typical of a broker using an electronic communication network (ECN) with no dealing desk execution model. Upon opening the LimeFx demo account you can start with a virtual balance of up to $100,000 while also installing and trying EAs as we have explained in our LimeFx demo account guide. You can trade both Spot marketIndices (plural for Index) as well as the Futures market.
