The key difference between the two accounts is the Micro Account allows trading with micro-lots (1000 units). With this account 1 micro lot (pip) is the equivalent of USD 10 cents. 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.
Tailored to Your Trading Journey
Our editorial team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Our research is unbiased and independent; learn more about how we test. The decision about which platform to choose is clearly based on what a client would like to trade.
A Transparent Fee Structure
I always start on a demo with a new broker just to get a feel for what they have to offer. The broker has a wide range of trading instruments for you to choose from including Forex, Commodities, Stocks, Shares, Indices, Metals, Energies & CFDs. All instruments are available to trade from the same trading account on 16 trading platforms which makes your trading easier and more efficient. We recommend the Micro account for beginners – it offers nano lots and access to a huge range of markets. The Standard account is a good option for a range of traders with a straightforward sign-up process and competitive trading conditions.
Non-Trading Fees
From my experience, execution can play a big part in your trading results, especially if using a scalping strategy. We found the app offers seamless connection to the MetaTrader platforms, so any trades performed in the app will be automatically reflected in your desktop client, and vice versa. It also helps that we can access full account management features, including the members area, plus deposits and withdrawals. We evaluate, compare and rate the forex and CFD broker in key areas, from its investment offering, trading fees and accounts to its platforms, research, education and customer support. LimeFx Markets have moderate fees, as they offer commission-free trading with competitive spreads, and offer free deposits/withdrawals. They also process deposits and withdrawals relatively faster than some brokers.
We were particularly impressed with the Ultra Low/Zero account – this is best for traders looking for the tightest spreads with a low commission. The website of LimeFx is easy to navigate and has details about the account types, fees, trading conditions, and other information that clients might need. The broker also offers a variety of account types for you to choose from. FOREX.com is a trusted brand that delivers an excellent trading experience for forex and CFDs traders across the globe. It offers a wide range of markets and provides an impressive suite of proprietary platforms – alongside limited access to MetaTrader.
LimeFx clients can trade on MT4 with no re-quotes, no rejection of orders and with flexible leverage. Whatever your trading style or experience level, MT4 is considered as on of the go to platforms for online trading. LimeFx have a good selection of trading platform video tutorials on their website limefx official site to help familiarise yourself with MT4. If you are new to trading, I think MT4 is a great platform to get started with. You can open a free demo account to learn how to use the platform and practice trading online risk free, until you build enough confidence to open a live account.
Note that they charge dormant account fees of US$5 after only 90 days of inactivity. LimeFx is a Forex and CFDs broker that offers commission-free trading on financial markets. LimeFx https://limefx.club/ offers mobile trading for all its trading platforms, and our clients can download the matching application of their platform of choice for both Apple and Android devices.
- A forex trading platform is in essence the software provided by LimeFx to its clients to carry out their trades.
- We are impressed with the selection of educational videos, platform tutorial videos, whilst the LimeFx Live video feed is a service you will very rarely see with rival brokers.
- LimeFx offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms for desktop users.
- You simply fill out the brief online registration form, verify your email and upload your identification.
We are impressed with the selection of educational videos, platform tutorial videos, whilst the LimeFx Live video feed is a service you will very rarely see with rival brokers. We like the fact that LimeFx does not charge any fees or commissions on withdrawals across payment methods. The only exception to this is with Wire transfers less than $200 which incurs a $15 charge. However, even then, many other brokers would charge a fee of up to $25 for all wire withdrawals. The Standard and Micro accounts have a minimum deposit of just $5 (or equivalent denomination) to start trading.
Importantly, we do not recommend that beginners trade with high leverage – this can increase the risk of large losses. High leverage will appeal to seasoned traders with effective risk management strategies. Importantly, LimeFx stands out for its $5 minimum deposit – lower than almost every broker we have reviewed. This makes the brokerage a good option for beginners and those with less starting capital. The only exception to this is the Shares profile, which requires a $10,000 minimum investment.
Contract sizes are flexible, with both standard and micro lot sizes available. MT4 and MT5 are compatible with a range of devices, with desktop and webtrader platforms available, as well as mobile trading apps for Android and iOS devices. LimeFx is a market maker broker that sets its own bid-ask prices and uses internal liquidity to fill orders.
There is a library of free educational materials for LimeFx users including the likes of week interactive webinars and video tutorials. They always have the latest news from the world of forex as well as providing regular market analysis from the team of experts at the platform. They also have a range of tools and calculators that provide everything a trader needs when making certain calculations. With the micro and standard account types, you are not subject to a minimum deposit, but usually you will have to deposit at least $5 due to system requirements. There is a minimum required deposit of $100 for the LimeFx Zero account type.
LimeFx is ASIC regulated, ensuring a high level of trust and security for Australian traders. While both brokers cater to the Australian market, LimeFx has a more established presence and offers a broader range of services tailored to the needs of Aussies. Moreover, LimeFx, unlike FXTM, was founded overseas but has made significant inroads in the Australian market. For a deeper dive into the best brokers for Australians, you can check out this detailed review of the Best Forex Brokers In Australia. LimeFx is better for experienced traders because of its competitive spreads and diverse range of account types. FXTM provides prompt service, yet customer support teams are only available 12 hours a day, 5 days a week.
These need to be measured by how long your account can lie dormant before being charged a fee and secondly how high the fee is. We believe that LimeFx scores poorly on the length of the dormant period allowed, but scores well on cost. At LimeFx there is a Demo Account facility that gives you a virtual balance of $100,000 to play around with and find your feet. The demo account has an unlimited duration, giving you all the time you need to get prepared for trading a real account. This is the final main account that you can open with LimeFx and is a zero spread account.
Users get access to these services via phone, email, or live chat features. LimeFx has a great mobile trading platform, which is offered on MT4 and MT5. The platform is highly user-friendly and provides a great search option. As a whole LimeFx is a trusted broker that has a solid and unspectacular offering for their users. They look after the needs of their clients through quality customer support and they have regular promotions such as a free VPS service.
There are more important factors, including the firm’s trading conditions, tools and safety rating. Another bonus for us is that the paper trading account does not expire, so you can make use of it alongside your real-money account. That said, demo accounts automatically close after 60 days if there is no activity.