Both offices can be reached through email or by regular mail to the London office. The broker also provides support via a live chat feature and Facebook Messenger. LimeFX, launched in 2002 by Monecor as TradIndex, was acquired by a joint venture between the UK-based JRJ Group and the Netherlands-based BXR Group. Following the acquisition, the group decided to rebrand TradIndex into LimeFX. Since October 2020, LimeFX, part of Swiss-based Guru Capital, purchased the online brokerage from JRJ Group. LimeFX is best suited for manual traders who will use the proprietary ETX TraderPro, while algorithmic traders using MT4 should consider other options due to the high MT4 pricing here.
Its parent company Monecor Ltd. was established in 1965 and is regulated by the UK’s Financial Conduct Authority . Monecor Ltd., the entity that handles EU accounts, is regulated by the Cyprus Securities and Exchange Commission . LimeFX provides an execution-only service and all information that is provided is for educational purposes only and limefx reviews should not be considered LimeFX advice or LimeFX recommendation. Any instruments that are mentioned throughout are cited only for illustrative and educational purposes. If you prefer to allow others to make your trading decisions, then either the ETX Connect App or MT4’s Trading Signals service will allow you to follow and copy top traders.
I want to trade options, are they available at OvalX?
You do not agree to the reason why this was done and would like the 13,641.93 EUR to be credited back to your account. 90% of the time they will slip your stop loss even when the market is slow they will not honour your stop loss level. In fast markets they will slip you and execute your slipped stop at the worse possible levels.
For a tailored recommendation, check out our broker finder tool. Answer a few simple questions and get a list of the most relevant brokers. The asset classes that LimeFX allows clients to trade are summarized below.
- Note that you can only deposit and withdraw funds on OvalX via an account that has the same name as the name on your trading account.
- Through this regulation, we can recommend that the broker is safe to invest with.
- In addition to excellent trading platforms and fast executions, the well-established broker offers spread betting, copy trading and excellent educational and research resources.
- Also, the Trading Signals feature in MT4 lets you automatically copy other traders’ transactions in your own account after reviewing and comparing their track records.
The application looks just the same as the official website with the same controls and functionalities. All kinds of trade types and offers are the same on the mobile platform, also are the account management features and trade history. The download is fast and straightforward, and the trader can log in with their detail to make a fast trade. LimeFX is a solid company that was launched into the CFD business fifty years ago . There’s a broad range of trade on LimeFX, a top industry-leading forex trading platform with a healthy and competitive spread.
See all forex majors.
Also, the intuitive and easy-to-navigate nature of the broker’s 2 supported trading platforms and its copy trading app gives the user an excellent trading experience. The MT4 remastered app, which allows for automation and access to a mini terminal, adds to the MT4 platform’s viability. While LimeFX offers its ETX MT4 Remastered upgrade for MT4 traders, it imposes 33% higher trading costs, making LimeFX unsuitable for algorithmic traders. One of the best assets LimeFX possesses is the educational section for new traders. It has several high-quality tools, ensuring that beginner traders can understand the fundamentals of trading financial markets. I like the trading environment at LimeFX for manual traders in the ETX TraderPro trading platform.
They are seen as being one of the equality offerings and they regularly get nominated for the “Best Trading Platform” award. They also have a premium research offering for those customers that deposit at least £10,000. Otherwise, they do not offer much else in the form of research. They do have daily news deadlines through their MetaTrader 4 platform. They also hold weekly webinars whereby market analysts talk about current conditions in the market. If you want to get in touch with a member of the customer support team at LimeFX, you can use their Freephone number if you are in the United Kingdom or their international number otherwise.
LimeFX upgrades it via its ETX MT4 Remastered package, but it lags competing brokers. The asset selection varies between trading platforms, with LimeFX Pro offering all trading instruments. I like the 79 currency pairs LimeFX offers, placing it in the top quintile of brokers, but the seven cryptocurrency pairs remain a disappointment. LimeFX offers a positive swap on EUR/USD short positions and other assets where market conditions warrant them, meaning traders can get paid money. This2022 Forex Broker Reviewhas been conducted though thorough research and assessment of rating and ranking among almost 300 international forex brokers. The final grade is given based on LimeFX FX broker performance and features.
We tested the debit card withdrawal and it took 2 business days. OvalX withdrawal is free for up to 5 transactions per month. Furthermore, if you want to withdraw less than $100, you will be charged a $10 fee.
- With iOS, you can download the app either for your mobile phone or for a tablet or the compatible Android version.
- Starting as a Junior Trading assistant and progressing into a Business Development we’re delighted that he’s been part of the team since 2015.
- These funds will process to your account within 24 hours and it can take 3-5 working days for withdrawals to process.
- A popular third-party trading platform, MT4 is available for those already familiar with the platform, but includes the ETX MT4 Remastered upgrade, consisting of numerous add-ons and improvements.
- We compare brokers by calculating all the fees of a typical trade for selected products.
Unfortunately, LimeFX does not publish these fees on its website. Had successful careers as traders and senior managers at top financial institutions. FXScouts has been the UK’s most trusted Forex broker review site since 2019. Our team has written 100+ broker reviews and we constantly test to maintain accuracy.
OvalX Overall Fees
To meet the requirements, you need to meet two out of three criteria. The first is to have over €500k worth of assets which includes your house if you own it. The other two are that you must have relevant experience in financial services and have traded at least ten times in the last four quarters. In return for being a Pro trader with LimeFX, you will benefit from some additional perks. After their early success in London, the company went on to operate in other countries across Europe, Asia and Russia.
Commodity.com is not liable for any damages arising out of the use of its contents. When evaluating online brokers, always consult the broker’s website. Commodity.com makes no warranty that its content will be accurate, timely, useful, or reliable. There is no specific information on OvalX’s website on the practice of scalping. Scalping is the act of buying and selling trading products within unusually short timeframes, with the aim of executing trades with narrow spreads and minimal pips. Despite the lack of guidance, traders should do their own research.
Traders can easily register and log in to trade assets, indices, commodities and Forex. The 3-step process requires traders to select their preferred account type, apply for an account, and trade up to 6,000 markets. Among others, investors can enjoy Forex trading, spread betting, CFD trading, binary options, and a wide range of educational tools and resources. Traders have access to multiple markets including indices, commodities, equities and Forex. LimeFX also offers spread betting and binary options trading, which is considered to be illegal in the US and several other parts of the world. LimeFX has more than a decade worth of experience in the financial markets and has been a mainstream financial company since its inception in 2002.
Consequently, the total profit made on these trades is deemed void and therefore have been deducted off your trading account. The main differences using MT4 versus TraderPro are the spreads and technical analysis tools. There are 30+ technical indicators — TraderPro has a similar set of tools. Charged when positions are left open overnight Inactivity Fee£25 per month for dormant accounts with available funds. On instruments like forex pairs, you can also trade forwards contracts — these have a future expiry date.
Trusted Broker Reviews
This feature makes it simple to set limits and stop losses so you can more effectively manage your risk on each trade. You can also customize up to 10 different workspaces where you can drag and drop charts and create custom watchlists. The platform is available for desktop, tablet and iOS and Android mobile devices.
Their trader pro platform, which I am using primarily on my phone, is excellent, easy to navigate. They do have a comprehensive education offering and this extends to traders of all different types of experience level. They also have training programs and mentoring sessions available. There may be a fee charged by your bank when making bank transfers. There is no charge for making as many as five withdrawals in a month with LimeFX, once they are worth at least £100.
- Overall, LimeFX provides an average number of funding methods, and while deposits and withdrawals are free, processing times are slow.
- As they are listed on the London Stock Exchange, they are also held accountable to these rules and regulations.
- Card deposits on OvalX are credited instantly and bank deposits are handled manually by the accounts department and may take up to 5 business days for your account to be credited.
- Multi-lingual customer support is available 24/5 by telephone, email, and live chat.
- There is a Financial Service Compensation Scheme which safe the client’s money up to £85,000.
With that in mind, keeping your money here is a safe proposition, especially considering that they have been around since 1965 making them one of the oldest brokerages that we have reviewed. If you are looking for a well-established and trusted online brokerage form, LimeFX could possibly be one of the better choices out there. It has been in business since 1965 and is British base of course it offers all of those extra protections. Read our LimeFX review to evaluate the pros and cons of this broker and choose if it is suitable for your needs. This article is dedicated to reviewing one of the best regulated brokers and to give you a clearer idea of what to expect in case you decide to open an account with them. Trade on a platform that empowers serious traders to stay ahead of financial markets with integrated platform features, advanced research tools, and a powerful charting package.
If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you don’t have to pay a conversion fee. So how did we approach the problem of making their fees clear and comparable? We compare brokers by calculating all the fees of a typical trade for selected products. In the sections below, you will find the most relevant fees of OvalX for each asset class.
Forex Broker’s Bonuses
For example, if you want to trade a US stock CFD, just click on ‘Equities’ and select the US market. It’s important to note that these types of charges are hard to find on the broker’s official website, making the fee structure not very transparent. Trading products on margin carry a high level of risk and may not be suitable for all investors as it may result in a https://limefx.group/ loss that rapidly exceeds your deposit. It is highly recommended that investors fully understand the risks or seek independent advice if necessary. Toll-free number or a direct number to the new accounts office where hours are 8 a.m. LimeFX does deploy the market maker model but does not trade against clients in compliance with FCA rules to prevent misconduct.