LimeFX Nigeria Review 2022

LimeFX Holding plc is regulated by CySEC which can give you maximum benefits. There is a huge potential for independent limited business without any leverage. The basics of currency trading in India are the same as in the rest of the world. The base currency in a pair always comes before the quote currency. However, the exception is that traders can only trade currencies as a form of currency derivatives in India. LimeFX has an ongoing 16 cars contest, 8 gold contests, and various giveaways in which the winner is decided through lucky draws.

You also have full control over the copying process and you can stop following any master as well as close out live trades. In the case of a credit card funding, you will be refunded the initial deposit amount. If there are any profits that are above this funding level then you will have to receive this through another method such as e-wallet or bank wire. As one would expect from any large Forex broker, there are a range of funding options at LimeFX both on the fiat money side as well as in crypto. Of course, there is nothing really wrong with the mobile apps and they could work just fine.

Where Is The Head Office Of LimeFX Trading?

The weekly cTrader competition is a draw with a prize of $400 for the lucky winner. We would also like to point out that all accounts come with a minimum lot size of 0.01 with no maximum lot size. Lastly, you can choose the ECN account which uses the LimeFX cTrader platform.

LimeFX allows revenue share, where copiers only pay a fee on profitable trades or fixed revenue per lot, where a trading charge applies irrelevant to the outcome. Copiers may use the filter to evaluate the Master Traders most suitable based on the commission structure. Trading with a regulated broker will limit the potential for fraud and malpractice. I always recommend traders to check for regulation and verify it with the regulator by checking the provided license with their database. LimeFX developed a proprietary copy trading service, expanding into a sector that is gaining popularity, especially among younger traders.

A professionally lead investment plan will create hefty returns. LimeFX is one such stage that will take you along with your investment to great heights. It’s important that you know about LimeFX until you trust them with your cash.

You can top up your demo funds on request while you refine your trading strategies or test your trading bots. When trading at a broker with leverage, one of the most important factors to consider is the asset spreads as well as any other fees that may apply. In this LimeFX review we will take an in-depth look into this broker by delving into their tech, fees, regulation and reputation. We will also give you some top tips in order to make the most of your experience on their platforms. Open MT4, then select “File” — “Login with trading account” from the drop-down menu.

LimeFX does not have a local Nigerian phone number for customer support which is a major drawback for Nigerian traders. The average typical spread for EUR/USD with the pro account type ranged between 0.7 to 0.9 during the peak trading hours. Traders do not have to pay any swap fee with the MT5 pro account type but a three-day fee is charged for holding a position overnight. But I could not find much about who and what regulates their services.

LimeFX’s minimum deposit ranges from $25 when funding with Mastercard/Visa or €50 when using Neteller/Skrill, depending on the chosen payment method, to as much as 500,000 NR. Any applicable minimums are determined by your country of residence and the LimeFX entity with whom you open a trading account. You may heard about an online trading application named LimeFX Trading App.

• Also, LimeFX customer support provides its clients with 24-hour live support available through live chat, email and phone support in various languages.
• And do not recommend trading with SVG regulation since there is no serious regulatory measures in that jurisdiction.
• Before going live, each article is thoroughly reviewed and fact checked by a qualified member of the editorial team.
• What makes LimeFX attractive in terms of trading platforms is the availability of the cTrader platform.
• BeeOptions is a foreign exchange broker headquartered in Cyprus and provides a range of tools for online trading.

And today, we are focusing your attention at the Octa FX review. Read it to consider a new arena for trading or start your Forex experience in a really decent and trustworthy trading activity. I’ve been using the LimeFX platform for a few weeks now and I have got to say the experience is not as daunting as it initially sounds. A huge part of that has got to be the educational tools that LimeFX provides to its customers, which are extremely helpful to new forex traders like me. When you feel confident enough to perform your first live trade but still wish to tap on the expertise of the more experienced traders, you can utilise LimeFX’s CopyTrading.

Let’s check out all the features of LimeFX & dig deeper into the LimeFX review. Based on trader opinions, June 2021 spreads and forex trading platform our forex broker reviews provide up to date ratings on the top regulated forex brokers. Justin Grossbard He co-founded Compare Forex Brokers in 2014 after working with the foreign exchange trading industry for several years. LimeFX is one of the leading digital Forex trading platforms. Initial deposits are not too high and a variety of instruments for trading.

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Each of the countries you see here has the support to join the broker LimeFX. This company is a very large trading platform so you can safely place your deposits or assets here. Trade market clients think about broker protection before investing. The broker provides customers with maximum protection from investing.

They can also use the filter to find the most suited Master Traders based on the structure of commission. The flexibility of MT4 and MT5 accounts allows traders to choose their deposit amount and leverage, resulting in more realistic demo experience. They’re perfect for testing EAs and fixing bugs for algorithmic traders. According to our review we found that LimeFX is not officially illegal in India.

This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of Fusion Markets alternatives. In the sections below, you will find the most relevant fees of Fusion Markets for each asset class.

I find the swap-free trading structure the best unique feature at LimeFX. Another fact of note is trading incentives, with more than $6,000,000 in payouts to date. LimeFX also offers traders the Autochartist plugin for MT4/MT5. Here is a screenshot of LimeFX live quotes during the London-New York overlap session, Market trend the most liquid one, where traders usually get the lowest spreads. However, advanced traders would prefer the desktop version as it feature much more customization capabilities and tools to use. So here both platforms also available for download and suitable for any operating system either iOS or Windows.

Does It Allow Indian Traders To Trade Currency Derivatives?

The firm’s accounts are Shariah-compliant and no interest will be charged on overnight positions. Exact spreads and commissions will vary depending on the account type you hold. Traders can choose between MT4 Micro, MT5 Pro, or the cTrader ECN account. From this Wallet, you can transfer Functional currency it to any of your trading accounts. LimeFX provides twenty-eight currency pairs, 3 cryptocurrency CFDs, and CFDs on 4 metals, 2 energies, ten of the most popular indices, adding to 47 instruments in total. That said, the firm is not publicly trading and does not operate a bank.

If you want to get it out of the stock index it will be less than 1 point. Even better if you expect a high rank spread then the black account can help you in this regard. You may know that there is no guarantee of making money in online FX trading. So we think it is very important to move towards the trading platform with your prudence, practical humanity, and knowledge. To be successful in online trading you need to go through many steps like practice, time, patience, and much more.

LimeFX Con’s

On a daily basis, over 2,000 inquiries are handled by their dedicated representatives in a timely fashion. Mobile trading with an app for iOS and Android mobile devices in case you LimeFXpany reviews want to trade at any time and from any place. 100% Shariah compliant; Available for all account types; Easy one-click registration; No documents or other identity proofs required.

This is because the MT5 uses an object orientated language called MQL5. You also have one-click trading on the MT5 platform which is not available on MT4. Moreover, you can code your own trading algorithms and bots on the MT4 platform.

You can start out copying top traders at FXTM with a minimum deposit as low as $100. A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. These usually offer bank accounts in several currencies with great currency exchange rates, as well as free or cheap international bank transfers. Fusion Markets has low trading and non-trading fees and the account opening is easy and fast. The broker operates a great customer service that provides fast and relevant answers. Usman Ahmed is a currency trader and financial market analyst with more than 7 years of active trading experience.

What Are The Basics Of Currency Trading In India?

Forex trading is both halal and haram, depending on the intent and behaviour of the individual investor. Trading with a proper strategy and Islamic account is halal, whereas with a regular interest charging account and no system, it’s considered gambling and haram. You can trade Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple. According to the broker’s website, it is fully compliant with international legislation and allowed to operate worldwide.

Changing the leverage is a very useful feature if you want to lower the risk of your trade. Be careful with forex and CFD trading, as preset leverage levels are very high. Fusion Markets offers MetaTrader 4 as a desktop trading platform. Similarly to the web trading platform,Fusion Markets provides only a one-step login. Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees. We ranked Fusion Markets’s fee levels as low, average or high based on how they compare to those of all reviewed brokers.