Both FXTM and Lime Fx are excellent choices for MetaTrader 4, but Lime Fx provides a slightly enhanced experience with custom add-ons. MetaTrader 4 is a popular platform known for its user-friendly interface and advanced charting tools. If you’re keen on exploring more about the best MT4 brokers, this detailed review of top MT4 brokers might be of interest. FXTM is better for beginner traders due to its intuitive platform and comprehensive educational resources. FXTM’s funding methods are fee-free, although third-party fees may apply. For Skrill and Neteller e-wallet options, VIP programs are available where the e-wallet providers charge reduced transaction costs.
- As traders gain access to ECN-style spreads, commission fees are $3.5 per side per $100,000 traded.
- These specialists are always able to provide traders with accurate and timely information about the questions they might face.
- These ECN spreads are among the best in the industry, matching or even surpassing top brokers like Lime Fx and Pepperstone.
- While both brokers cater to the Australian market, Lime Fx has a more established presence and offers a broader range of services tailored to the needs of Aussies.
FXTM: Best Trading Experience And Ease
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. For instance, traders using an Lime Fx Zero Account are offered average spreads of 0.10 pips for the EUR/USD, and FXTM ECN accounts using either MT4 or MT5 are offered 0.40 pips. Lime Fx and FXTM are regulated CFD brokers that offer a range of trading instruments, platform options, and account types. With different business structures (market maker vs no dealing desk), there are key differences between the two brokers that traders should be aware of before they open an account and start trading.
Deposit and Withdrawal
While some of the best brokers widen Islamic Account spreads to compensate for the loss in swap fees, Lime Fx promotes no widened spreads or hidden fees. You cannot use an MT5 account on the MT4 trading platform, so make sure you create your MT4 account beforehand. The webtrading terminal offers instantaneous trade execution and allows traders to buy and sell various assets, such as stock indices, forex, cryptocurrencies, precious metals, and energies. Investor protection is important because it provides confidence to potential investors that their money is safe and protected. It also ensures that financial markets are fair and transparent, which promotes stability and growth.
Compared to the standard lot size it is quite low, limefx scam as the standard lot equals 100,000 units of an asset. Indices offered by Lime Fx give you the opportunity to have cost-effective and direct access to global markets. Founded in 2009, Lime Fx has grown to become one of the leading online Forex brokers in the world. With over 5 million clients from as many as 190 countries, Lime Fx Is one of the most established brokers currently online. 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.
For this, you will first have to understand what your interests are in the Forex trading market and choose the account that fits these interests best. This means that rather than buying the commodities directly, the clients of Lime Fx simply speculate on the possible price movements of these assets. Commodities can play a huge role when it comes to portfolio diversification.
Beginner to advanced Lime Fx customers can increase their knowledge of financial markets via webinars, Q&As and courses, as well as using a range of tools to conduct market analysis. Those wanting an ECN-style trading environment may prefer Lime Fx’s Zero Account or FXTM’s ECN Account. The commission accounts offer access to ultra-tight spreads, with traders paying a flat-rate commission fee as compensation to the broker. With low spreads and commission fees, the ECN-like accounts are excellent choices for limefx those using Expert Advisors or executing day trading and scalping strategies. The broker’s ECN Zero Account is similar to its pure ECN Account, except traders pay no commission fees on top of the spread. As with FXTM’s Cent Account, the ECN Zero Account smaller offers contract sizes for more precise trading.
Experienced traders may prefer the Lime Fx Zero Account for its lower spreads and cost efficiency. Lime Fx, established 15 years ago, has carved a niche in the online brokerage industry with its diverse offerings and client-centric approach. Lime Fx offers a wide array of educational materials, designed to cater to traders of all levels, enhancing their trading knowledge and skills. Lime Fx offers a diverse range of over 1,250 CFD trading products, including forex, shares, indices, and commodities. This design provides a seamless and consistent trading experience across different devices, allowing traders to manage their activities efficiently while on the move. This includes tier-1 regulatory bodies such as the FCA of the UK and ASIC of Australia.
With its long experience, Lime Fx has managed to become one of the leaders in the market. Being regulated by highly-reputable agencies, Lime Fx is known for being a highly secure and safe broker. First, you can do so through the live chat available on the website of the broker. The second option is to send the customer support team an email, and the third option is directly calling the customer support hotline.
What is the Minimum Deposit at Lime Fx?
However, if you are inactive for 90 days, you will have to pay an inactivity fee of $15. Subsequently, you will be charged $5 monthly if this inactivity persists. For beginners, the Micro Account at Lime Fx is ideal for managing smaller trades with lower risk.
You will also provide the purpose of creating the account, and the experience that you have in trading. After this, you will create an account password and confirm the registration. Once you know which account you want to create, simply click “Open An Account” on the right side of the broker’s website. As you see below, you will be required to provide detailed information about yourself, which includes your first name, last name, phone number, location, email, etc. The first step that you will have to take is to sit back and think about which account you want to create.
The commission fee of $3.50 aligns with the industry standard, as seen with brokers like IC Markets, Pepperstone, and FxPro, all charging an identical rate. However, certain brokers like Lime Fx and GO Markets are slightly more competitive when it comes to commission costs. Lime Fx Zero Account holders pay a commission fee of $3.50 per standard lot, per $100,000 traded ($7 roundturn). Our analysis of over 40 leading brokers’ average monthly spreads revealed that while Lime Fx’s no commission spreads are competitive, there are other brokers offering tighter spreads.
This review of Lime Fx is grounded in CompareForexBrokers’ comprehensive and methodical approach. FXTM’s ECN Account allows customers to trade tight spreads similar to institutional-grade pricing. Although the account type is available when using MT4 or MT5, different commission fees apply for each platform.
Lime Fx offers a significantly lower minimum deposit across its account types (Standard, Micro, and Ultra Low all at $5), making it a more accessible choice for traders on a budget. To start trading, FXTM requires traders to choose a trading account-based currency. When based in the UK or Europe, customers can select either the EUR, USD or GBP, with Cent accounts using the US Cent, EU Cent or GBP Pence. For those residing outside of Europe and the UK, the additional option of NGN (or NGN Kobo) is offered as a base currency. As both Lime Fx and FXTM are overseen by multiple top-tier financial authorities, they are viewed by the forex trading community as well-respected and trusted online brokers. Lime Fx provides Islamic Account options for Micro, Standard and Ultra-Low account types.
The fees that you might have to pay mostly depend on the account type you are using, as well as the asset you are trading. Taking your first steps at Lime Fx is a very easy and user-friendly experience. This process should not take you longer than a day as the broker has adopted modern technology to ensure the verification of their clients is timely and comfortable. The Micro account can be especially useful for those who have just finished training with the demo account. While an Lime Fx demo account can be a great choice for traders to learn more about the market, it can’t be used to learn how to control your emotions when trading. By slowly transitioning to using real money, you will be able to learn more about how to control your emotions.