LimeFx forex broker: LimeFx Review 2023

LimeFx forex broker
LimeFx forex broker

The company has since bounced back, is fully regulated and offers products to customers worldwide. Positive ones on Trustpilot highlight good customer service and a user-friendly platform. Access the currency markets via the MT4 platform, code your own indicators and expert advisors or get from the marketing qualified lead database either for free or for a fee. You can trade major pairs or exotics with one of the largest selections of currency pairs available to US customers. It started with its first-ever online trading service in 1998 and eventually evolved with its first iPhone app services back in 2008.

This is where the trading platform IG wins over the traders’ confidence. With the robust API interface and the industry-standard MetaTrader 4, IG offers the best user experience. You can also discover more about the forex trading API from our latest guide. It charges the most competitive currency conversion charges to convert CFDs and forex trades back to the traders’ account base currency. IG provides its services to traders in EU, Switzerland, Hong Kong, UK, US, Japan, France, Singapore, South Africa, Sweden, Germany, Luxembourg, Australia, Qatar, UAE, New Zealand, and more. The system is governed by different regulatory bodies of the respective jurisdictions.

LimeFx forex broker

IG is one of the most trusted brokers and companies worldwide. It is listed on Stock Exchange for extra transparency and is heavily regulated. IG trading conditions are excellent too, low costs for Forex, professional education section, selection of trading platforms, and research are very good.

How to buy Pan African Resources shares on the JSE

Too many frauds out there even with so called oversight by “regulators”. We found that despite education, IG provides excellent research tools alongside its comprehensive platform features. You may choose between the research materials provided by the IG team, or also get to know premium research from third providers that includes even Real Vision Research. For example, if you deposit £1,000, you can open a trade position worth £30,000. Although this maximum leverage applies to forex and other instruments have lower leverages. For the full profit or loss calculation of a trade, you’d also subtract any charges or fees you paid.

Is IG a good forex broker?

Founded in 1974, IG is publicly traded (LON: IGG) and regulated in six tier-1 jurisdictions, making it a safe broker (low-risk) for forex and CFDs trading. IG ranked as the most trusted broker for forex and CFDs in our 2023 Annual Awards.

I have taken my business elsewhere and was setup, account funded, and trading the same day, with no issues or loops to be constantly jumping through. IG is an outstanding choice for beginners due to its high-quality educational content, with the IG Academy at its core. It also publishes special reports, features podcasts, webinars, and seminars, has a subscription-based service, and delivers in-house trading recommendations. The online application at LimeFx US remains swift, but I dislike two sections that collect unnecessary information. While regulators often require them, traders may fill them out at will without verification. They must also verify their credit/debit card or bank account before depositing.

Pro RealTime allows traders to automate trades and build customized trading algorithms. The panel located on the left offers a ‘settings’ option, through which traders can toggle various options to customize the platform and trade tickets. Traders can access lists of instruments by clicking on the categories. Then, traders can open an advanced trading panel where the individual instruments chart and relevant analyses are presented. The third tab, ‘Accounts’, allows traders to configure account settings and deposit funds.

Is IG trading available in Australia?

Our information is based on independent research and may differ from what you see from a financial institution or service provider. When comparing offers or services, verify relevant information with the institution or provider’s site. Most of the negative reviews accuse IG Forex of stop-loss hunting mostly by widening spreads. Also, some claim that there is a lot of slippage in executing orders. If you’re looking to do scalping or short-term trades, this could be an issue. But you can always open a smaller account to test it first before fully committing your hard-earned money.

LimeFx forex broker

LimeFx presents clients with one regulated entity for US traders, which is also the only necessary regulation for Forex brokers operating out of the United States. Dealing desks are staffed to ensure the proper functioning of the firm’s platform, without which revenue generation and profitability would suffer. For example, in the event of a technological glitch with the online interface, clients should have the option lime fx of being able to manage their trades. Aside from being regulated by reputable entities, a dealing desk goes a long way towards legitimizing an online broker. The broker operates a counter-party dealing desk which is useful for clients, especially ones with large accounts, who wish to trade directly with the inter-bank system through a dedicated platform. IG presents the option to trade with MetaTrader 4 and ProRealTime.

IG accepts clients in the United States but they can only trade forex. However, the client support response time is somewhat slow in comparison to some of its near competitors, which is always an important point to factor in when choosing a broker. There is also a rather limited product portfolio on offer and some of the trading fees are higher than other brokers currently operating on the market. Like many other brokers, traders can test the different trading platforms and conditions by opening a free demo account.

Unable to withdraw. The number of the bank card is wrong.

You can only deposit money from accounts that are in your name. The country of your residency determines theaccount type you can open. In most countries, you can trade only forex, CFDs and options.

LimeFx forex broker

However, in the past two years, IG has been taking more money from their clients while customer support has been reducing. IG builds its costs into the spread-only basis that is based on variable IG spread. Spread will be paid on every spread bet or non-share CFD, with an average of about 0.6 pips on Forex, and with a commission on every share CFD or share dealing trade executed. Generally, IG margins are among the lowest in the industry and very comfortable to use even for beginning traders, since there are no additional fees. The IG group of companies is heavily regulated by the top leading authorities worldwide due to its global presence by the appropriate bodies in the territory it operates.

Step 2) Click on the ‘Live Accounts’ tab and select the trading account you want to withdraw money from. The swap fees are added to your profit or loss when you close the trade. In some cases, if you are holding a long position open, you gain interest instead of a fee.

Moreover, the amount will be displayed on the payment screen after the payment is processed. IG also provides share dealing, trading in bonds, futures, ETFs, and many more. This broker offers digital options and a wide choice of binary equity options. IG website offers to trade in CFDs, which are available in several markets. IG offers more than 90 Forex pairs, which include minors, majors, and exotics to trade.

You will not be able to withdraw funds from them. Avoid them like a plague.

IG offers traders a variety of different technical indicators and drawings with charts, including Bollinger bands, moving averages, pivot points, Fibonacci variations, Elliot waves, and candlesticks. Traders can name these charts, save them and pull them up as needed. The IG trade ticket allows traders to quickly and easily send orders into the marketplace. At the same time, the system allows more advanced traders to enter orders with various contingencies. The dashboard is completed by a news panel on the right and a top bar, showing statistics like available funds, account options, and deposit buttons.

As a public company, IG Group must make full disclosures about its financial health. We may be paid a fee for referring prospective clients to a partner, though it is not a recommendation to invest in any one partner. There are some unnecessary subscription and exchange fees that the users find bothersome.

  • Turbo24s are exchange-traded products that can be traded 24/5.
  • LimeFx US does not provide operating hours and relies on its FAQ section for the bulk of support.
  • IG (U.K.) also takes steps to ensure that client funds are not co-mingled with corporate funds, in accordance with the U.K.’s FCA client money rules.
  • With this account, traders can invest in over 12,000 shares, funds, and LimeFx trusts, while there is a foreign exchange fee of 0.5%.

IG supports various order types that range from market orders to trailing stop orders. It also offers a wide choice of several charting tools and indicators for intermediate traders; the traders can place several annotations & indicators in a single chart. IG has one of the best web trading platformsBrokerChooser has tested. You can also expand your knowledge with great educational materials. Fees at both brokers are highly competitive, but active traders at FXCC can achieve a lower total cost structure. FXCC lists minimum spreads of 0.0 pips, commission-free, with average costs at 0.5 pips or $5.00 per lot.

To trade forex in South Africa, you need to open an account with a regulated broker. Forex is traded over-the-counter through a network of brokers and financial institutions as opposed to a centralised exchange. You can minimise the risk by trading through a regulated forex broker who you can trust. I am having a sinking feeling that my money will never be returned to me.

The interest rate applicable is the benchmark rate (4.25%) plus/minus a margin to IG’s favor. Short positions now attract financing charges where the margin is greater than the benchmark rate. The margin is 2.5%… If the benchmark rate is 4.25 you get charged 6.75% per year interest on long positions and if you are short, you get paid 1.75%. So say benchmark is 2% , IG end up paying you -0.5% (i.e. actually charging you) on any shorts you have.

Does IG use MetaTrader?

Get an edge with instant access to 18 free add-ons and indicators as part of our MetaTrader 4 package. You can download thousands more inside the MetaTrader 4 platform.

In addition, every broker we surveyed was required to fill out a 320-point survey about all aspects of their platform that we used in our testing. Many of the online brokers we evaluated provided us with in-person demonstrations of their platforms at our offices. IG (U.S.) offers neither negative balance protection nor guaranteed stop loss orders. IG’s commitment to providing clients with timely and informative research is noteworthy. There is something for both those that like to read and those that prefer to listen or watch.

LimeFx is also regulated by the FSCA and is considered safe to use by South African forex and CFDs traders. I recently closed all trades and made a full withdrawal on 27th April. On 5th May, IG sent me a transaction report saying IG has sent me the funds, telling me to contact my bank instead. It’s kind of weird as on the report, the beneficiary account scammed by limefx number was not the same as my bank account number that IG has on file. My bank confirmed it did indeed receive the amount but due to an incorrect beneficiary account number, it had returned the funds back to IG. Note that when applying if you put your net liquid assets as less than 10k then you are forced to choose the ‘Limited Account’ option.

What is the minimum deposit for IG broker?

250 units in the base currency is the minimum account deposit globally, which translates to $250 for U.S. accounts and, per CFTC regulations, the highest leverage available to U.S. clients is 50:1. Traders meeting certain volume thresholds are eligible for rebates.

Traders who open the share dealing account can buy and sell US shares commission-free, and trade UK shares from £3 per trade. With this account, traders can invest in over 12,000 shares, funds, and LimeFx trusts, while there is a foreign exchange fee of 0.5%. IG offers MT4 on a mobile trading platform, available for both Android and iOS.

LimeFx falls under IG Group which has been in business since 1974. The company was the first of its kind spread-betting broker and has continued in this pioneering spirit, having spearheaded many revolutionary trading features. An efficient search function and a comprehensive glossary are very useful features for new forex and CFDs traders. The Autochartist tool hides irrelevant market data and highlights those currency pairs, market data and technical indicators that indicate large market movements. IG US does not offer negative balance protection nor guaranteed stop loss orders. All retail client money is distributed across major banks and regularly assessed against LimeFx’ risk criteria.

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