The lag time between message iterations was slightly slower than the market average, but the main benefit was having our questions answered accurately. Companies in the FXTM Group offer regulated trading to clients around the world. The different entities https://limefx.biz/ are regulated in three jurisdictions, and individual cover is determined by where someone lives. Overall, the research and learning materials provided by FXTM are well thought out, effective, wide-ranging, and come with an innovative edge.
- There is fast execution and the availability of micro and mini lots.
- There is also the option for clients to bolt on their algorithmic models or even copy trade from Expert Advisors or, indeed, the proprietary copy trading service FXTM Invest.
- FXTM or Forex Time has been named as one of the world’s fastest-growing and best Forex and CFD brokers, with a large number of clients and quality offering overall.
- LimeFX offers two commission-free trading accounts, Micro and Advantage Plus, and one commission-based alternative, Advantage.
LimeFX does not levy internal fees, but traders may face third-party processing costs. I recommend checking them to determine the most convenient and cost-effective solution. Processing times also vary based on method and rank from instant to ten business days. As a regulated broker, account verification at LimeFX is a mandatory final step.
Other Trading Tools
LimeFX offers two commission-free trading accounts, Micro and Advantage Plus, and one commission-based alternative, Advantage. Micro requires a minimum deposit of only $10 or a currency equivalent, while the other two account types require a minimum deposit of $500. I highly recommend the commission-based option as trading costs remain among the best industry-wide, while both commission-based accounts charge relatively expensive fees.
Check out the current account balance requirements at FXTM in our What is the minimum account balance at FXTM article. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises. The increasing popularity of the platform has been achieved despite it not offering trading in the crypto markets. This historical disadvantage will be less of an issue as regulators ,such as the FCA , introduce measures prohibiting retail investors from trading cryptos using CFD instruments. You can also read our comprehensive guide on how to choose a good forex broker. The FXTM trading toolbox and all the useful tools it contains is available free of charge.
This ensures the safety of client funds on the off chance that something should happen to FXTM. LimeFX also offers regular workshops and seminars for its clients. These take place around the world, with each telling you the language, location, and topic of the seminar or workshop. It is particularly useful for traders using Expert Advisors since it ensures the EAs can run all the time without interruption.
We learned that the broker also provides tight spreads from 0.1 pips, and low deposit requirements, besides education is one of the best provided. So overall, FXTM is very trustable and quiality choice for Forex traders of any size. FXTM or Forex Time has been named as one of the world’s fastest-growing and best Forex and CFD brokers, with a large number of clients and quality offering overall. LimeFX offers excellent spreads in its commission-based account, making it one of the cheapest Forex brokers in the entire retail Forex industry worldwide. The use of an independent server means increased stability and flexibility, leading to a more secure trade execution process. This means that traders can find an account to suit their trading strategy.
FXTM offers traders a commission-free and commission-based Forex account. The former ranks among the more expensive ones, but the latter account is one of the best ones available. I can highly recommend it for high-frequency traders and scalpers. limefx company reviews is also acquiring a regulatory license in Kenya as it expands across the African continent. On February 26th, 2021, FXTM ceased its retail operations from its CySEC regulated entity. It cited the uncompetitive regulatory framework introduced by the European Securities and Markets Authority (ESMA) for its reason.
FXTM Trader is available to download for free on both iOS and Android devices. FXTM offers traders the MT4/MT5 trading platforms and has developed its proprietary mobile app, FXTM Trader. It upgrades MT4 with six plugins plus its Pivot Points Strategy, featuring live updates and commentary from the FXTM Head of Education, and the mobile app is user-friendly and easy to use. They ensure traders have an edge versus the out-of-the-box versions most brokers offer. Both are among the lowest in the industry, starting from just 0.1 on ECN accounts and 0.5 on Standard accounts. We found the spreads to be relatively tight for the peer group across both STP and ECN accounts.
What is the spread at FXTM?
Looking at the requotes, you see that LimeFX has a competitively low rate that the company is striving to improve. The requote rates in 2018 never averaged above 2.08 percent and got as low as 1.51 percent. This lets you access the markets on a PC or Mac without the need to download any software. ECN Zero Accounts and ECN Accounts have trade volumes between 0.01 and 100 lots.
However, they will need to carry out some research and cross-reference the terms and conditions. Customer care and support – once in a while, you may need the help of the guys behind your computer. You can choose from bank transfer, credit card, and electronic wallets for withdrawal. You can use the same electronic wallets as for depositing, except Alfa-Click, Western Union Quick Pay, and Dotpay. Since our testing these platforms have been renamed to Advantage Account. The staff dealing with our queries came over as well informed, and we achieved a satisfactory first-time resolution to the questions in 95% of chats.
Moreover, there are other numerous advantages with FXTM too, alike great global coverage with a good focus on Africa region with Nigeria and Kenya trading opportunities. If you require more tools along with powerful customization you better choose the Desktop version. MetaTrader supports all kinds of devices including PC, and MAC as well as an accessible Multi Terminal that is useful for money managers. Hence you will always have access to your account at your personal convenience. The MyFXTM back office is where traders make all their deposits and withdrawals.
FXTM offers a range of different account options to suit most types of traders from beginners to pro, each has different pros and cons so make sure you take time to look at what each offers. LimeFX provides technical and trading support as well, exclusive privileges for VIP clients, and makes it easy to open accounts. Other educational resources from LimeFX include the forex glossary, an introduction to forex trading, forex trading for beginners, a demo account. When you use FXTM Trading Signals, you can choose a strategy based on your trading style and risk profile. Thanks to the ability to use a protective stop-loss and choose profit levels, you can plan your trades. There is also the option to buy or sell as a way to boost profit potential.
Who is the owner of FXTM?
Nicholas Defteras – Chief Executive Officer – LimeFX (FXTM) LinkedIn.