Lite Forex scores high for offering several options as payment processors, which is excellent for clients who may risk losing a part of their money due to additional charges. Traders registered at LimeFX can avail of a safe, secure, and user friendly platform for high-speed online trading. It supports 15 languages and offers a wide range of trading tools and popular trading platforms such as MT4 and MT5. LimeFX offers support for an average number of trading platforms compared to other brokers.
- However, since LimeFX does not have fixed spreads, clients may experience wider spreads during volatile markets.
- Claws and Horns is a reputable financial investment research firm that offers in-depth analyses, trading signals and expert opinions on a wide variety of markets and trading instruments.
- Depending on the entity you belong to, the broker has different permissions.
- Additionally, requotes may occur due to the time it takes to process orders.
- LiteFinance features a Beginner section on its blog, where it presents educational content featuring dozens of quality articles.
- LimeFX, founded in 2005, is an established CFD and forex broker, where clients can trade on the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms using multiple deposit and withdrawal methods.
The web terminal allows for trading without any software installation. Web users have the same access to real-time quotes, charting tools, and trading history directly from their browser. The terminal is compatible with any operating system, including MacOS, and is accessible once you have your account login details. LimeFX Europe’s advanced trading solution is the MT5 platform, designed with the professional trader in mind. The platform boasts dozens more technical indicators than its predecessor, 21 timeframes, and a full set of order types. In addition, traders can take advantage of the economic calendar and depth of liquidity tool.
TOO MUCH FEES!
As you can see from the table above, trading costs on the ECN Account are significantly lower than those on the Classic and Cent Accounts. However, these costs are still above those of other good brokers, which have a trading costs of 9 USD per lot traded. Additionally, spreads are variable, which means they get tighter or wider depending on trade volume and market volatility. In line with LiteFinance AML policy, clients can only withdraw funds to the same purse and currency used to top up the account. Afterward, they may withdraw the remaining fund using a different payment system. So, if a trader tops up using Perfect Money, they can only withdraw using another payment system after they have withdrawn the initial deposit money that they deposited using Perfect Money.
Since they have official CySEC regulation, they do not mention their offshore entity before assigning clients there. First of all, mobile app is available for both Android and iOS devices, and the link is provided on the broker’s website. It’s available in 8 different languages, but it looks like not all of the assets can be accessed via mobile phone.
Types of Accounts at LimeFX
LimeFX, founded in 2005, is an established CFD and forex broker, where clients can trade on the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. As I have mentioned earlier, they offer a demo account, where you can learn everything about trading, learn how to use their platform without any risk. The sign-up process is straightforward, and an account is opened in a minute.
Ghana, Nigeria, and Myanmar clients can have their accounts denominated in local currencies. This is the flagship account designed for experienced limefx website traders who require the speed and power of ECN trading. The spread starts from 0.0pips and commissions start from $5 per lot.
LiteFinance, formerly LimeFX, is a forex broker founded in 2005 with a EU branch in Cyprus. Ideally, all withdrawal requests are handled manually by the finance department. It only takes one business day from the day you made a request to process the request. It is important to note that it might take 5 days https://limefx.club/ to have your funds if you are using bank wire transfer. LimeFX’s market analysis materials are in-depth, comprehensive, and frequently updated. Overall, this is strange behaviour from an international broker, especially in an industry often accused of an irresponsible approach to consumer protection.
It operates independently and is not adhered to by the LimeFX group. This company operates as an exclusive broker for LimeFX’s European clients. LimeFX Investments Limited, on the other hand, is an established global CFD and forex broker.
LiteFinance Customer Protection
I find the deposit and withdrawal methods sufficient for most traders and appreciate the inclusion of cryptocurrencies. LiteFinance caters to most international traders, including the UK, the Philippines, Malaysia, and Nigeria. Like most international brokers, LiteFinance does not accept traders from the US.
Online registration merely requires an e-mail address or phone number and a password. Since LiteFinance claims to adhere to AML regulations, verification is mandatory. It is generally satisfied by a copy of the trader’s ID and one proof of residency document. Despite 16 years as a brokerage, LiteFinance, previously known as LimeFX, appears to undergo unfavorable changes. It could explain its corporate headquarters move and expansion into less-regulated cryptocurrency activities. Regrettably, none had a positive impact, making LiteFinance a less transparent, secure, and trustworthy brokerage.