LimeFX also maintains the MAM/PAMM module, enabling retail account management. A built-in copy trading function is equally available across MT4/MT5 and cTrader, which all support algorithmic trading. MT4 is the market leader for automated trading solutions, while many consider MT5 the failed successor amid a lack of backward compatibility. Here is a screenshot of swap rates at LimeFX for the EUR/USD from the MT4 trading platform.
At the same time, IG can boast industry recognition with their award-winning technology, but they don’t have any awards for their customer support service. LimeFX and IG offer a similar range of FX pairs, but IG tops LimeFX in CFD markets. We suggest using LimeFX if you’re looking to trade in the forex market, and IG if you’re interested in CFD trading. As part of the risk management tools, the guaranteed stop losses can help traders minimise losses from market gapping, especially slippage. Because LimeFX offers ECN pricing and your orders are matched against liquidity providers, they are not able to offer guaranteed stop losses.
A Versatile Broker for Discerning Traders
IG DMA or Level 2 dealing account has some benefits; however, requires particular skills, so is not the best choice for most traders. If you are new to trading, then IG can be a good choice, especially if you plan to use the proprietary trading platform, which has risk management tools not found on other platforms. LimeFX delivers a very competitive commission-based alternative with raw spreads of 0.0 pips for a commission of $6.00 per round lot. Commodities, indices, and cryptocurrencies remain free of additional costs, which remain included in the markup. Equity CFDs and DMA traders face a fee between 0.06% and 0.30% with a minimum of $10 or a currency equivalent.
Is LimeFX or LimeFX safer for forex and CFDs trading?
This account has ECN pricing, which means prices are sourced from liquidity providers with no dealing desk. IG Group have a similar account that uses Direct Market Access (DMA) trading in place of Straight Through Processing (STP). DMA is similar to STP but is recommended to professional traders, so retail traders limefx review should not really consider it.
What is the highest leverage offered by LimeFX?
- 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.
- Beginner traders tend to prefer this type of account because of the simpler commission structure.
- This $0 minimum amount is possible via bank wire; otherwise, you have to pay more when opening an account with IG.
- ECN pricing account offers the lowest spreads, so we recommended this type of account to most brokers.
- LimeFX commission fees are competitive compared to other online brokers with similar ECN Account types.
Additionally, each platform is available on different devices, ranging from mobile apps, to webtrader options, and desktop trading platforms. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. LimeFX delivers a good variety of mobile apps for forex and CFD traders. Its proprietary app has a nice layout for a new mobile app but lacks the advanced features that I’ve come to expect from the best brokers in this industry.
Best Forex Brokers in Poland for 2024
LimeFX is a no-dealing desk (NDD) broker which reflects the type of trading accounts they offer. IG is a Market Maker, which means most of their products are spread-only products, meaning no commissions. On the other hand, IG limefx broker reviews clients only have access to 2 mobile trading Apps (MT4 + IG trading platform) compatible only with Android devices. The only drawback is that iOS users need to use a progressive web app (PWA). The standard account has all-inclusive spreads, which means costs are wider in place of commissions.
With its multilingual support team available 24/7, LimeFX underscores its dedication to providing exceptional customer service, ensuring a seamless and supportive trading environment for all its clients. To cater to its global clientele, LimeFX’ live chat service is multilingual and supports over 12 languages, effectively removing language barriers and enhancing the overall customer support experience. LimeFX provides the flexibility of choosing from seven base currencies for funding your account, including USD, AUD, NZD, CAD, GBP, EUR, and CHF. Upon registration, you have the option to select your preferred account base currency, which will be used for calculating commissions and managing your funds. LimeFX has an overall trust score of 60 based on regulation, reputation, and reviews. Still, LimeFX secured the 10th spot among 20 brokers, confirming it as a broker with effective execution speeds.
