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Clients who opt for Trader Pro may choose any major currencies, while LimeFX also caters to specific requests. One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check them before evaluating the total trading costs. Here is a screenshot of LimeFX MT4 live quotes during the London-New York overlap session, the most liquid one, where traders usually get the lowest spreads. An equal treatment of traders irrespective of the trading platform used.
The company generally makes its money from the spreads of the instruments. However, a client’s loss may result in the profit for the company, which involves a conflict of interest because when the company executes orders, it keeps the risk to itself. It is described in the “Conflict of interest Policy” document, which informs that LimeFX makes financial gain at the expense of any client.
Trading terms of LimeFX broker
The LimeFX Group has a substantial presence in the EU zone and has its affiliate offices in Russia, Africa, and the Middle East. Therefore, LimeFX is a highly reliable company that deals in top-quality financial services without affecting the trust or confidence of their clients in any manner. The overall experience with LimeFX has been satisfactory so far. The security of funds is one of the most important things for a trader, and this broker ranks quite high in this aspect. Being based in the UK, regulated by the FCA and the funds are kept in segregated accounts.
Like the web-based version of Trader Pro, Trader Pro mobile offers advanced order types and the ability to save chart views ; watch lists also sync between the two platforms. Pros aside, like the web platform, a severe gap in forex news and research features is also present. Boosting research will go a long way toward improving an already impressive app.
The withdrawal details must be identical to those from which the account has been deposited. The registration at this broker is not complicated with the verification. Thus, it takes you several minutes to open access to the trading completely. The questions for the user are indicated there right down to the origin of money. To deposit to your OvalX trading account, log in to your dashboard, click on ‘Payments’ on the top menu, then select ‘Add Funds’ and follow the on-screen instructions to complete the deposit. Step 1) Go to the OvalX website at /en-gb, and click on the ‘Open live account’ button, highlighted in green at the centre of the page or ‘Create Account’ on the top right corner .
You also pay swap fees for holding a position open for more than 24 hours. With more than 60 indicators, the ETX TraderPro trading platform offers in-depth technical analysis tools complemented by numerous drawing tools. A dedicated accounts page is missing, and traders limefx broker reviews must source the information from the FAQ section or via customer support. The asset selection varies between trading platforms, with LimeFX Pro offering all trading instruments. Trading with a regulated broker will limit the potential for fraud and malpractice.
OvalX UK Customer Service
Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information. 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.
I always recommend traders to check for regulation and verify it with the regulator by checking the provided license with their database. LimeFX presents clients with three -regulated entities. The ForexBrokers.com annual forex broker review is the most cited in the industry. With over 50,000 words of research across the site, we spend hundreds of hours testing forex brokers each year.
- The withdrawal processing times depend on the jurisdiction and method and can take between one and seven business days.
- The broker is also a member (not an actual publicly-traded company) of the London Stock Exchange .
- Like the web-based version of Trader Pro, Trader Pro mobile offers advanced order types and the ability to save chart views ; watch lists also sync between the two platforms.
- LimeFX upgrades it via its ETX MT4 Remastered package, but it lags competing brokers.
Negative balance protection means that even if markets move rapidly against you, your account will not be negative. As mentioned, it’s impossible to do so with this phony broker. EUR500,000 of liquid access, relevant experience in financial services and at least 10 trades of significant size in each of the last 4 quarters. There are three types of live accounts, which differ mainly in the spread and the required initial deposit. You can trade a variety of financial instruments on OvalX. You may be unable to trade some of these instruments if you select the MT4 trading platform.
It is worth noting that there are nearly 6000 markets to trade Trader Pro – including single stock CFDs, compared to LimeFX’s MT4 offering, which offers less than 200. First of all, a web-based platform cannot hold all the advanced tools necessary for great trading. One more thing to point out here is that upon accessing the platform, trading is not available, only making a deposit is. LimeFX enjoys a good regulatory status in Europe, but that is no longer the case in the US.
They offer competitive bonuses and a variety of accounts and platforms. OvalX offers 2 main account types; Standard Accounts for retail traders and Professional Accounts for professional clients. Both account types can be classified as Premium Accounts with special benefits if you maintain a minimum balance of £10,000.
Can you imagine if such companies like Morgan Stanley or Charles Schwab give you no immediate support when you need to maintain your margin requirements? My positions were closed by margin call and I wasn’t able to add funds because there were some technical issues on broker’s servers. Risk Warning – Trading CFDS, FX and Cryptocurrencies involves a high degree of risk. Between 74-89% of retail investor accounts lose money when trading CFDs.
North American Markets
OvalX, like most CFD brokers, works towards securing the best price for their clients. We have reviewed their ‘order execution policy’ document and here are our findings. The commitment to finding the best results for traders may not always equate to obtaining the best price or lowest cost. Therefore, there is no guarantee that you have the best conditions for your trades. OvaX’s parent company is listed on a stock exchange and regulated by top-tier financial regulators, both of which make the platform safe for traders and have low risk.
Not all deposit methods are available to all traders, dependent on the geographic location and account base currency. The online application starts with the residence and tax country, followed by the trading account type and personal information to complete the initial step. The multi-step process takes longer and consists of several unnecessary questions but incorporates the account verification process. The educational content offers quality material for beginner traders.
No worries, it might be a long shot but it’s worth a try. Let us tell you about the ways you can get your money back. What is more, we strongly advise you not to invest inLimit Markets,AlphaPrimeandProforbexfraudulent brokers. It doesn’t matter on which device you access the platform.
All versions are susceptible to manipulation and will surely loot your wallet. The goal of this review is to prevent you from becoming like Captain Ahab and spending your years in bitterness seeking revenge on this Moby Dick of a fraudster. Our first move at the helm will be to check the regulatory status of this shady broker. Here’s one possible scenario – you’ve been sailing the sea of trading in search of a trustworthy broker. The waves were relentless, the current made change course and you crossed paths with a provider known as Capital Whale.
17 of the most traded commodities are available such as Gold, Silver, Oil and Brent. There is no inactivity fee, so you can https://limefx.biz/ determine the time frame in which you want to trade. Of course, there are common fees such as spread, swap and rollover.
Is LimeFX Safe?
LimeFX does deploy the market maker model but does not trade against clients in compliance with FCA rules to prevent misconduct. I also recommend checking the costs from the payment processor to the bank account unless a debit/credit card is available. The process bar at the top of each step gives a minor indication of progress, but it consists of numerous steps, while most brokers have a one-page sign-up procedure. As a regulated broker, LimeFX must satisfy AML/KYC stipulations. Most new clients will complete it by sending a copy of their ID and one proof of residency document not older than three months. Eight chart types allow traders to visualize price action in a manner that suits them best.
, one last step
I didn´t see any promotions or trading competitions during the time that I traded with them, but they have a nice bonus scheme. I´ve read some reviews about LimeFX where people complained about not being able to withdraw the bonus funds. Some people think that they can withdraw these bonuses so they get furious when they are told otherwise, but you can´t really withdraw a broker´s bonus. You can trade it and use it as a cushion during difficult times when more liquidity is needed on high volatility trading conditions, but don’t be mistaken, bonuses are not free money from Santa Claus. The ETX Binary platform is for binary options traders obviously.
Regardless of the amount of initial deposit each new client gets welcome bonuses. But you must write for this directly to the service desk on your own and provide the initial data (account number, scan-copy of documents that confirms the transaction). When you deposit £1000 thousand you will get £6000 thousand as a bonus But they are transferred to the bonus account. You cannot withdraw it; this money is available only as insurance and deposits your working assets. In order to withdraw the bonus money, you must have a business volume from 300% from accrual amount.