You can learn from your own experience and understand the trading process better. Make all the mistakes you want in the experimental phase but no money is lost because it is a game played with virtual currency. LimeFX Virtual Trading Platform serves as an excellent no-risk introduction to the sometimes dangerous world of trading. Get to know a few trading secrets through practical experience rather than by reading books or research papers. While opening the account, this fee has to be paid as an initial deposit. There are serious risks of loosing money involved in Forex Trading.
It offers mobile versions of MT4 and MT5, but no proprietary mobile trading solutions. LimeFX offers support for an average number of trading platforms compared to other brokers. LimeFX has two simple account types that are both more to beginners than experienced traders.
Forex market hours: what is the best time to trade?
The objective of the ICF is to secure any claims of covered clients against members of the ICF by paying its clients compensation in the event that the company is liquidated. However, under the current regulatory environment, British traders will not benefit from this compensation. The online platform designed by LiteFinance is a one-stop trading system that provides a trader with all necessary tools and does not require installing. Learn the basics and practice on a demo account with virtual money. After uploading the documents, it will take a min 4 hours and a max 48 hours to support team of LimeFX broker, confirm your account.
- To have your email address verified, click on your name in the upper line and choose the “Settings” option.
- Next, click on “verify” under your name and address and upload colour copies of the corresponding documents to confirm your personal details.
- On
ECN trading accounts, traders will see floating spreads as low as 0.9 pips and
average spreads of around 1.1 pips.
- LimeFX offers two account types, which is average when compared to other brokers, and the accounts are more suitable for beginners than experienced traders.
- Both platforms are highly sophisticated and accommodate the needs of
both beginner and experienced traders.
- However, because LimeFX only
provides trading in the forex markets, both platforms will do.
Beginner traders are inexperienced traders who have never traded before, or who have been trading for less than a year. Beginner traders often do not want to risk trading large sums of money and generally will not be able to trade full-time during the workweek. Earning tools, strategies, leveraged trading rules, and proper limefx official site risk management for beginner traders. Additional, with the variety of accounts, ECN & classic, professional and beginner traders can choose the one according to your level of experience. LimeFX caters to beginner traders by
providing them with extensive educational material in their comprehensive
education centre.
Analysis Materials
LimeFX’s market analysis materials are in-depth, comprehensive, and frequently updated. MetaTrader is freely available on both Android and IOS mobile phones and tablets. The advantage of using the MetaTrader platform is the cross-device and multi-broker functionality, making it easier to change broker or https://limefx.club/ use multiple brokers. All applications and their contents are supported in more than eight languages and are regularly updated. LimeFX offers four base currencies, which is limited compared to other similar brokers. Overall, trading costs at LimeFX are higher than average on both account options.
You are practicing all the steps of a real live account without the money risks. There are no transaction limits and you can train as much as you want. Traders with experience too need to start with the demo account to understand the LimeFX system well. A combination of in-house research and third-party analytics by Claws & Horns offers traders comprehensive market coverage and trading ideas.
As the proof of address the Company also accepts bills from internationally recognized organizations, affidavits or bank statements (mobile phone bills are not accepted). To verify your profile, you must submit the following 2 types of documents to LimeFX. Under normal market conditions and the system’s productivity, the trade will be executed quickly right after the order has been sent, and you will be bound by its terms. Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital. Overall, LimeFX provides a comprehensive education section that is frequently updated.
Accounts with lower minimum deposits and which allow trading in micro-lots are generally more suited to beginner traders. Spreads on these accounts are often wider than those with higher minimum deposits. Both LimeFX’s accounts have a minimum deposit of 50 USD, making them accessible to beginner traders. It is free to join but you have to pay the company trading account a minimum deposit of $50 in order to gain access to the demo account.
LimeFX broker is one of the most well-known brokerages all around the world, so we want to teach you how to create account on LimeFX and start trading. Getting used to trading online and practicing the right moves in the demo account go a long way towards success. While companies usually charge fees for every service, however small, the demo account does not charge any fees. Even if this basic experience does not relate to trading, they will pick up the fundamentals from the demo account. Traders rehearse all the buy and sell activities, the research, and the use of expert advisers in the demo account as if they were really trading. LiteFinance caters to most international traders, including the UK, the Philippines, Malaysia, and Nigeria.
Risk Warning
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. LiteFinance maintains one regulated subsidiary for EEA, UAE, and Marshall Islands-based traders.
Additional, for the confirmation of your address, you can upload a photo of bill (water, electricity, or gas) or any other documents that have your home address with full name and surname in it. In this step, you should check your email box, because the LimeFX has sent a 6-digit code to your email. If you didn’t see the email from LimeFX in the inbox, check the spam. The developer, LimeFX (Europe) Limited, indicated that the app’s privacy practices may include handling of data as described below. Analytical materials are developed in cooperation with our partner, Claws&Horns, exclusively for information purposes. Published materials should not be regarded as a recommendation for investment or advice in accordance with Directive EC.
Tesla Stock Forecast & Price Prediction: 2023 and Beyond
Since LiteFinance claims to adhere to AML regulations, verification is mandatory. It is generally satisfied by a copy of the trader’s ID and one proof of residency document. Online trading on Forex market with minimal spreads on ECN and CENT accounts. In order to restore your trading account, please visit the section “Metatrader” in your Client Profile and click “Restore” next to the account you need to restore.
Apart from the high trading costs, other drawbacks are that LimeFX charges high withdrawal fees. Additionally, its Indian clients will be trading under the LimeFX subsidiary registered in Saint Vincent and the Grenadines, which provides virtually no regulatory oversight. In the left bar of the LimeFX broker, click on first icon with name trading to access all currency pairs, metals, cryptocurrencies, indices and stocks for trading. Starting a trading account has some formalities like form filling, submission of supporting documents, and the payment of the minimum initial deposit. It replicates real trading conditions in live markets and helps develop the confidence to face the real test of trading in live situations where money is at risk. Make a decision in favor of account opening with LimeFX, leading to the demo account and real-live trading later.
How to open LimeFX account and trade Forex?
In order to change your Trader’s password, please log in to your Client Profile and access the section “Metatrader”. Access the “Traders”section and define a group of traders who correspond to your requirements using the filters. Although you can create several accounts within your Client Profile, all trading operations are conducted only in the “main” account.
LimeFX features a live demo account for traders
to practice on and awards new traders with a bonus up to 50% for depositing
funds. LimeFX
is a zero commission trading brokerage and only charges trading fees through
floating spreads on all types of trading accounts. The spreads are very
competitive with the industry standards but are nothing extraordinarily low.