The company was established in St. Vincent and the Grenadines and is regulated with licensing from the Saint Vincent and the Grenadines Financial Services Authority (SVGFSA). The Saint Vincent and the Grenadines Financial Services Authority (SVGFSA) offer weak trader protection. Opening an account from one of the 185 countries where this license is used is considered high risk.
If you encounter a withdrawal problem when using the LimeFxFX trading platform, you will receive a notification in an email explaining the issue. Alternatively, if you need to cancel a withdrawal, you can do this within your personal area. LimeFxFX is a No Dealing Desk (NDD) broker and therefore acts as an intermediary between the trader and the market. LimeFxFX receives commissions from its liquidity providers for each transaction.
- 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.
- If you have an interest in programming, you could write and run your own trading robots inside MetaTrader.
- It has made great strides with its pricing options for traders, but suffers from a limited range of tradeable instruments and a lack of variety in its educational content.
The details shared in the email include; your login details, trading account credentials, and all other necessary account info. The platform has got lots of training materials for both beginners and veterans. So if you are a beginner interested in forex trading, head to the LimeFxFX website and explore a world of possibilities.
Swap-free accounts
LimeFxFX can be chosen to trade CFDs in Malaysia but the clients are registered under offshore regulation. The third-party risk of choosing LimeFxFX in Malaysia is higher than all the top-tier regulated CFD brokers in Malaysia. LimeFxFX is an offshore regulated CFD broker that allows low-cost trading across various financial instruments. The official website and application of LimeFxFX are also available in Malay language.
However, the LimeFxTrader is not available for real accounts and will not provide the experience of the MT4 or MT5 live trading platform. When we used the LimeFxFX demo account, it was good to see emulated live market conditions and real-time prices. Paper trading accounts are a great way to practice investment strategies risk-free and learn platform terminal features and tools. Users can access unlimited virtual equity with flexible leverage. LimeFxFX is a forex, CFD and copy trading broker offering the MT4 and MT5 platforms. In this 2023 broker review, our experts log in to the personal area and uncover the key features, including leverage, demo accounts, regulation and more.
LimeFxFX does not offer zero spread and commission-based trading accounts. Scalpers and high-volume traders who seek to trade CFDs with little or no spread won’t find LimeFxFX useful. 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. In addition to the 30 in-built technical indicators, advanced charting tools allow you to analyze price fluctuations and trends in the market, using three customizable chart and graph types.
- Step 6) You will be taken to a page to select a payment method to make a deposit.
- The first step to start copy trading is to fund your CopyTrading wallet with a minimum investment sum of $25, some Master Traders require higher minimum investments.
- They have low spreads, MetaTrader platform, copytrading & good support.
- If you click on SKIP, you will be taken to your LimeFxFX dashboard which shows your account balance and other information.
The bonus is not automatic, as clients will have to apply for the bonus after their account is credited with the deposit sum. However, when it comes to Forex trading itself, it’s extremely important to acquire sufficient knowledge of the financial markets and use risk management techniques when trading. Without that, you are facing great risks of losing your money with any broker you choose to trade with.
Adding additional regulatory licenses in Tier-1 jurisdictions would be a step toward winning more client trust. Founded in 2011, LimeFxFX is part of a group of global entities, which include LimeFx Markets Incorporated (based in Saint Vincent and the Grenadines) and LimeFx Markets Cyprus Ltd (based in Cyprus). LimeFxFX also provides financial services through its intermediary, Orinoco Capital. LimeFxFX’s market research is well organized and varied in its content.
LimeFxFx Overall Fees
This is a significant advantage for investors using mid-term and long-term strategies as charges will not be applied for any positions held overnight. Both platforms are compatible with several languages, including English, Arabic and Hindi. In this article, we will focus on an LimeFxFX review and look over its status as one of the most noteworthy Forex brokers in Malaysia. LimeFxFX is a trusted name in Malaysia, with over 12 years of international Forex brokerage experience across 180 countries. It has earned accolades such as the ‘Best Forex Broker Malaysia 2022’ and the ‘Best Global Broker Asia 2022’ awards. LimeFx supports all trading styles, including hedging, scalping and automated trading.
Note, demo accounts are deactivated after 30 days of inactivity. All bank transfers are processed within 1-3 hours of a request. Forex trading is becoming popular in Malaysia, but there are several factors that new investors should be aware of. It’s important to stay safe when entering financial markets, and this can be achieved by choosing a trustworthy broker. The broker’s Islamic accounts, free from commissions or swaps, ensure no interest rates are involved. Since LimeFxFX doesn’t engage in options, forward, or futures trading, it adheres to the Islamic finance principle prohibiting gharar.
Start trading with LimeFxFX
Each year, we collect thousands of data points and publish tens of thousands of words of research. You can sign up and login to the LimeFxFX copy trading service in a few easy steps. Once you login to your personal area, you can set up your copy trading profile and deposit to your wallet. You can also sign in to your new account using the Android app.
The copier does not need to copy the trades manually, it happens automatically. The Copier can choose to copy the Master Traders trade in equal volume or 2 times the volume of the trade or even three times. LimeFxFX accepts deposits from Malaysian banks and allows withdrawals to all Malaysian banks.
So, even if Forex brokers could get licensed in Malaysia, they may not hurry to do so because it could severely worsen the trading conditions they provide and lose the competition to international brokers. Yes, LimeFxFX allows withdrawal of funds through multiple methods. Clients residing in Malaysia can deposit and withdraw through limefx broker reviews credit/debit cards, e-wallets, and cryptocurrency wallets. LimeFxFX does not charge any fee for deposits or withdrawals in Malaysia. Overall, LimeFxFX is among the most cost-effective broker to trade CFDs in Malaysia. No swaps fees are applicable on the MT5 account and MT4 swaps are lower than many CFD brokers in Malaysia.
About LimeFxFX
There is also no inactivity fee for dormant accounts or commission charges for deposits, withdrawals or currency exchange. There is also an integrated economic calendar as well as two major accounting modes for greater flexibility; hedging and netting. A Forex broker, such as LimeFxFX, plays the role of a middleman, transmitting Forex trades to the broader international market, facilitating traders to profit in mere minutes.
Customer Support
Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets. Similarly, the State Bank of Pakistan has declared forex trading platforms illegal in Pakistan. LimeFx Markets Incorporated is registered in St Vincent and the Grenadines.
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For our top picks among trading apps, read our guide to Best Forex Trading Apps. LimeFxFX has struggled with pricing in the past, but has vastly improved in this category and is now gaining on the lowest-cost https://limefx.biz/ MetaTrader brokers. No, based on your detected country of UA, you can’t open an account with this broker. We are constantly improving our product to make your trading experience better.
Malaysian traders at LimeFxFX are registered under offshore regulation, so you are trading at your own risk. LimeFxFX offers 24/7 customer support options for traders via 2 channels. Our team tested the live chat and email support, here is our review. The first step to start copy trading is to fund your CopyTrading wallet with a minimum investment sum of $25, some Master Traders require higher minimum investments. If you have funds in your LimeFxFX trading account already, you can simply do an internal transfer to your CopyTrading wallet. The minimum withdrawal amount on LimeFxFX is MYR 20 for local bank accounts, $5 for withdrawals to e-wallets, and $20 for cards (Visa).