LimeFX Review in 2024 Spreads & Fees Compared

ForexBrokers.com has been reviewing online forex brokers for over eight years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. With LimeFX, you have access to most of the major trading instruments.

Why is it important to know where your broker subsidiary (entity) is regulated?

Features like its trading glossary, platform tutorials, and dozens of Frequently Asked Questions (FAQs) help to flesh out LimeFX’s educational offering. That being said, there isn’t much educational content for learning how to trade or understand market dynamics. It’s worth mentioning that the broker does have a blog and a YouTube channel, yet I was still left wanting more. LimeFX has made great strides with its pricing options for traders and its educational content, but suffers from a limited range of tradeable instruments. LimeFX does not charge internal withdrawal fees, but traders may incur third-party payment processor costs, blockchain fees, and currency conversion charges. It is higher versus many brokers but well within a reasonable range and justified by its products and services.

ICF protects client accounts for up to €20,000 if a firm becomes insolvent. A trader working with a broker entity regulated offshore would not necessarily have these benefits. The broker is regulated by Cyprus’ CySEC (Cyprus Securities and Exchange Commission), which means it can offer trading services to all clients in the EU.

Deposits

As stated on their website, over 21 million trading accounts have been opened across 180 countries with LimeFX. Founded in 2011, LimeFX (formerly LimeFX) is part of a group of global entities, which include LimeFX Markets LTD (based in the island of Mwali) and LimeFX Markets Cyprus Ltd (based in Cyprus). LimeFX also provides financial services through its intermediary, Orinoco Capital (based in South Africa). LimeFX does have a proprietary app for social copy trading (the LimeFX Copytrading app), yet it still trails behind industry leaders such as IG and Saxo. Check out my picks for the best mobile trading apps in the industry.

LimeFX Main Features

Some of the reviews limefx broker reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. One thing that stood out to me about this broker during my review was the ease of use.

1. LimeFX offers a swap-free Islamic account that adheres to the principles of Sharia law.
2. As stated on their website, over 21 million trading accounts have been opened across 180 countries with LimeFX.
3. It’s worth mentioning that the broker does have a blog and a YouTube channel, yet I was still left wanting more.
4. The most popular of the three platforms is MT4, the industry-standard workhorse that more or less every retail broker offers.
5. LimeFX displays a recommended amount to allocate to each Master Trader.

The LimeFXTrader platform is intuitive, well designed, and has popular features like alerts and 1-click trading. There are no swap fees, inactivity fees, or fees for deposits and withdrawals. Three account types cater to traders with different levels of experience.

The success of the proprietary LimeFX copy trading service resulted in the launch of a dedicated mobile app. Traders may open MT4/MT5 demo accounts at LimeFX, and there is no time limit on active accounts. The MT4 demo account will expire after eight limefx scammers days with no trading activity and the MT5 demo account after 30 days. The flexibility of MT4/MT5 allows traders to select their deposits and leverage, creating more realistic demo results. LimeFX takes it further and offers swap-free trading in its MT4/MT5 accounts. This makes a tremendous difference to leveraged traders who keep positions open overnight.

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. For this reason, LimeFX is one of the better choices if you require a Sharia-compliant Swap Free Islamic Accounts. Some of these educational webinars could be useful, but they are only really suitable for absolute newbies.If you want advanced trading education, look elsewhere. Their live chat team is mostly based in St Lucia or Cyprus and is 24/7.

LimeFX Platform

However, there is room for improvement in terms of being clear about the unregulated status of the offshore entity. This section will cover how the different entities of LimeFX are regulated and how this impacts you as a trader. We rate regulators on a scale of 1 to 3, with 1 reflecting the highest level of trust. Becoming regulated in more jurisdictions – especially in Tier-1 jurisdictions – will go a long way towards building trust with existing and prospective customers.