Generative AI tools are not a part of our content creation or product testing processes. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry. For example, the “minimum expertise” field lets you choose between newer systems, all the way up to those with legend status. I was also pleased to see a risk score assigned to each trader, to help users differentiate between traders with historically conservative results versus those that have had more volatility and risk. It would be useful to be able to sort the columns from highest to lowest, but that feature is not yet available when looking at the Master Rating results page. LimeFx (formerly LimeFxFX) offers a basic, low-cost MetaTrader platform experience alongside its proprietary web and social copy-trading platform.
Customer Support
Their personal support is also genuine andcustomer care executives seem to eagerly resolve client queries and problems. The entire process can be completed quickly, often within a day, provided the necessary documents are readily available. LimeFx doesn’t require a minimum deposit to open an account, a notable point in their favor. 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.
How to open account with LimeFx South Africa
- LimeFx offers access to multiple robust trading platforms, which include MetaTrader 4 (MT4), MetaTrader 5 (MT5), and LimeFxTrader.
- Founded in 2011, LimeFx (formerly LimeFxFX) 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 is best suited for both beginner and intermediate traders due to its easy-to-use platform, educational resources, and low minimum deposit requirement.
Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets. Founded in 2011, LimeFx holds a regulatory license in Europe via its Cyprus-based entity – LimeFx Markets Cyprus Ltd – which is regulated by the Cyprus Securities and Exchange Commission (CySEC). In South Africa, LimeFx provides financial services to clients through an intermediary, Orinoco Capital, which is licensed by the Financial Sector Conduct Authority (FSCA). 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.
Deposit Fee
Trading platforms offered by LimeFx are MT5 & MT4, and they don’t offer cTrader, but they have their own proprietary platform – LimeFxTrader. This account is meant for those with a goodunderstanding of Forex and a willingness to invest for larger profits. Thisaccount offers the lowest spreads which allow for the maximum length of tradeoptions. This limefx forex broker allows less experienced traders to learn from and imitate the trading strategies of successful traders. Therefore, it not only facilitates learning for beginners but also potentially enhances trading outcomes. LimeFx extends three types of trading accounts to suit diverse user needs – the Micro (MT4), Pro (MT5), and the LimeFxTrader account.
In addition, LimeFx boasts no slippage on 97.5% of its executed orders, and no overnight carry costs, yet has restrictions in place that can hinder high-frequency traders. Telegram may be hitting 1 billion users soon, as the company announced that they had recently hit 950 million users worldwide. By next year, the company expects to be profitable and to potentially go public and start offering stock shares. LimeFx also has a 50% deposit bonus which is available for South African traders as well. It should be made clear that you can only withdraw funds to method that was the source of your deposit.
Additionally, LimeFx offers impressive customer support to assuage any potential challenges traders might face. Advanced traders will appreciate the narrow spreads, zero commissions, and accessibility for all trading strategies. It includes Scalping, Hedging, and Automated Trading strategies.
Unlike many other brokers, the bonus at LimeFx can be withdrawn once you meet the specified trading requirements of number of lots traded. By and large, the MT4 platform is very simple and easy-to-use. These include the majors as well as crosses amongst EURUSD, GBPUSD, GBPJPY, USDJPY, USDCHF, AUD/USD. LimeFxFX is also available on mobile and has dedicatedapps for both iOS and Android.
It permits all financial transactions available throughconventional desktop apps. Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry.
It’s worth noting that LimeFx’s primary execution venue is one of its own entities in St. Lucia. In ZAR this is ≈ R480 if you are using bank transfer to add funds to your account. There are only 3 account types available at LimeFxFX, but none of these account types has ZAR as the base currency. Their customer service is accessible beyond standard business hours, offering 24/7 support in 20+ languages available via Live Chat and email. The broker also maintains a comprehensive FAQ section on its website, providing in-depth information on common queries related to trading, account management, deposits, and withdrawals.
Consider your trading needs, strategies, and risk tolerance levels. The suitability of a broker is largely dependent on individual trading preferences and goals. From our assessment, LimeFx emerges as a broker that proves itself to be reliable and conducive to traders, making it a viable option for consideration. Given its responsive and multi-channel customer service and the supplementary resources provided for customer support, LimeFx showcases a strong commitment to assisting its clients. There is certainly room for enhancement, such as the introduction of 24/7 support, yet the existing offering should meet the needs of the majority of traders and can be considered dependable. 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.
The innovations to the platform have been compared to the way Patreon works, with different tiers of bonuses and exclusive content. Creators on Telegram have a lot of freedom with this new system, and they can even determine their own pricing. The Stars digital currency can be converted into the very popular Toncoin tokens, which has grown to be the #8 crypto token on the market. The withdrawals are sent to SA bank accounts in few hours, so if you make the withdrawal request to your bank during business hours, it is normally received in the same day. It has a very comprehensive charting package and several technical indicators.
Initial deposits are not too high and a variety of instruments for trading. The overall trading fees is quite low with all 3 accounts, plus they are also a CYSEC regulated broker. Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables. The security of your funds – in terms of regulatory protection – will depend on which LimeFx entity holds your account, and which –if any – relevant regulations provide customer protections.
Traders can access MT4, MT5, and LimeFxTrader via web applications directly from their browsers, conveniently skipping the need for software installation. Guaranteed stop order fees, overnight funding fees, and currency conversion fees are not separately specified by LimeFx. Read our full explanation and accounting of our research and testing process to learn more about how we test. Use our country selector tool to view available brokers in your country.
Incorporated into the spread, offering cost-effective trading for CFDs. In terms of commodities, LimeFx presents opportunities to trade in energy products, precious metals, and others. For those interested in trading indices, LimeFx provides access to some of the world’s major https://limefx.club/ indices. Forex trading is a major focus, with over 52 currency pairs available, encompassing major, minor, and some exotic pairs. LimeFx has struggled with pricing in the past, but has vastly improved in this category and is now gaining on the lowest-cost MetaTrader brokers.