LimeFX Review year : Is It a Reliable Forex Broker?

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. LimeFX shows clients how to obtain the most up-to-date rates, a step many brokers omit.

Is LimeFX A Good Broker For Day Trading?

On the contrary, leverage is generally considered a good thing, and in foreign exchange markets, where it compensates for lack of volatility, it is crucial to allow quick returns. Are there any specific benefits to leverage, and how does it make sense for forex traders? On the downside, LimeFX supports accounts in just a few currencies (USD, EUR, GBP), with USD only for wire transfers. As a comparison, Fusion Markets offers 10 deposit currencies, which can help prevent the need for often costly conversions.

LimeFX Customer Service

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1. It also operates an unregulated but duly registered subsidiary in Vanuatu, where most international clients trade.
2. While an LimeFX no deposit bonus does not exist, LimeFX offers a 100% first deposit bonus with a $2,000 limit.
3. If there is less amount deposited than required under the terms of leverage, open trades in Forex are automatically closed.
4. The same trade can result in different losses or gains for two traders using a different leverage ratio.

Does LimeFX Offer Low Fees?

Also, the offshore regulation for non-EU traders and expensive withdrawal fees are notable drawbacks. That said, the bonus could not be withdrawn, and if your account balance reaches below 50% of the available bonus credit, the amount will be removed. Withdrawals at LimeFX are also disappointing, with all methods besides cards and wire transfers incurring a percentage withdrawal fee that can reach a hefty 3.4%, depending on the method. Wire transfers incur a $30-$45 flat fee (minimum limit of $500), many times more than the $5 withdrawal fee at eToro. Once you take the leverage on offer from your broker, you must meet the obligation of this liability.

The very first thing I noticed when I started trading with the ECN XL account was the instant execution. I was trading with another broker previously, and after I pressed the buy or sell button, there was a little time to wait for the trade to be executed. So many times my trades were executed at a different price than the one I saw on the chart.Here things are completely different. Plus the spreads are tight.My overall trading experience and profits improve by far just by changing the broker I trade with. DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence.

Making leverage and margin part of your forex trading plan is the best way for you to manage your risks and maximize your yield potential in your trades. It’s all about carefully weighing your risk-return scenario and your trading capital – how much of your trading capital are you willing to risk in case a trade does not pan out as you expected? With a carefully executed forex trading plan, a leveraged account can bring you more profits than your trading capital can bring you on its own. In most cases, a moderately leveraged trading account brings much more manageable risks and allows the forex trader to get right back into trading when he loses out on his trade. The prospects are so appealing when forex traders think about how much more their yield potential can be increased by trading on leverage. Trading at a leverage of 50 times your capital or margin means that you can also multiply your gains by 50 times.

The higher the leverage, the more the gains or losses will be magnified. Risky as it may be, there is some wisdom in using leverage and margin in your forex trading. These trading conditions, however, should only be used with extreme caution and with careful planning. The same huge gains that you are expecting with a highly leveraged trade could just as easily result in the same amount in losses for your trading account. With this in mind, you should carefully balance your expected profits with leverage and margin with the risks involved in every trade. The same trade can result in different losses or gains for two traders using a different leverage ratio.

You can also trade Spot US Crude Oil (WTI) and Spot UK Brent Oil (BRENT) contracts. Leverage in forex simply means to take advantage of a certain amount of capital provided by a broker so as to utilize more trading volume to gain larger profit. The forex trader acquires a significant amount of capital from his broker (as debt) on initial margin requirement to maximize profit from relatively scammed by limefx small changes in price movements. In this LimeFX review, we examine the broker across key categories, including its accounts and fees, trading platforms, and customer support, to find out how it competes with alternatives. These findings are based on our first-hand experience trading at LimeFX and take into account the overall experience for day traders.