also get a range of different calculators, which will help them determine
critical aspects of each trade. The platform is packed with a series of helpful
features to enhance the trading platform, allow for a quick and simple overview
of the Forex market, and customize how you trade. Our Hotforex review also discovered that this broker is perfect for beginners, as they offer an excellent LimeFx demo account. You can use the demo account for however long you like to practice trading in real market conditions. The offering changes little based on the desktop/webtrader/mobile choice, with the same excellent, and highly customizable, powerful trading platform available to all traders. The minimum deposit for this VIP account type is $20,000 or 74,000 AED.
- Generally, there are three different account types and special accounts for professional clients and experienced retail clients.
- Since LimeFx has licenses from multiple world-class Forex regulators, I can confidently suggest that traders manage their portfolios at HF Markets (SV) Ltd.
- If you want a program that has the fundamental features you need to trade without superfluous features that some competing platforms tend to have, then MT4 is an excellent choice.
- Overall, we found that LimeFx provides a good selection of third-party platforms but lacks its own in-house trading platforms, which are usually more user-friendly.
- They are available as a desktop client, a webtrader, and a mobile app, while MT4 comes with the PAMM module.
Multi-lingual customer support is available 24/5, and LimeFx transparently lists all contact methods on its website. LimeFx describes its products and services well, and it has plenty of videos and a well-structured FAQ section. I recommend live chat should traders require assistance for non-urgent matters and phone support for emergencies. I am a client of this broker and I want to write a few words about how this company operates. Some time ago I saw that a few traders complained about the unmodern design. And now the company has corrected it.Broker is also constantly improving its services./ I have noticed this in my experience.
MetaTrader4 (MT4) is the industry-standard workhorse software of the retail forex industry and is offered by many brokers so is one we are very familiar with. We tested the platform with LimeFx and except for some personalised branding, MT4 with LimeFx has all the features we expect to see. This type of account is certainly for more advanced traders, and if you’re just getting started in the markets, could be a good thing to strive for in the future. LimeFx offers two interesting types of accounts which differ from the traditional trader and retail investor accounts. LimeFx is continuously establishing its position as a market leader and offers great trading conditions and competitive advantages to its clients.
CFDs and Forex Review
Overall, the HotForex mobile app is a convenient and powerful tool for traders who are always on the go. It allows traders to stay connected to the markets and manage their trading activities from anywhere, at any time. LimeFx provides swift customer service via phone call or live chat for 24/5.
- You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
- LimeFx has also taken out civil liability insurance up to €5,000,000, to protect client funds against broker error, negligence, fraud, and other risks.
- LimeFx warns all potential customers that Forex and CFDs trading always carries a degree of risk and may not be suitable for all investors.
- However, it also offers Premium Trader tools, available to clients who deposit more than 200 USD, which plug directly into the MT4 platform, enhancing its functionality.
MT4 also comes with 23 drawing tools to help identify support and resistance levels, or trend lines. We found making use of these very easy, just click on the drawing tool and select the points on the chart you’d like to draw a line through. With LimeFx, there are a similar amount of options to get your funds out of your LimeFx account as there are to deposit.
However, this data applies to range of traders who trade following the existing trends but might differ for traders using other trading strategies, such as scalping. 👉 When compared to other forex and CFD brokers, LimeFx’s commission fees are exceptionally cheap. Traders in Nigeria should anticipate paying between $3 and $4 in charges for FX majors and other financial products.
As with deposits, withdrawals with all HF Markets Group entities, are typically fee-free. This means that wire transfers, credit/debit cards, and eWallets can all be used in most areas, though you should check with your specific jurisdiction to see what is available. The deposit methods available with HF Markets are everything that you would expect from a major https://limefx.group/ broker. They include wire transfers, deposit by credit or debit card in the form of Visa and MasterCard, and eWallet deposits that include PayPal, Skrill, and Neteller. The base currency of your account is the currency that you will be trading in. Here the minimum deposit is $0, and you can rely on the very best prices given direct from the liquidity providers.
Should your account remain unused for between six months and one year, a $5 fee is charged. This increases to $10, $20, and the previous year’s fee + $10 per month for inactivity periods of 1-2 years, 2-3 years, and over 3 years respectively. After your accounts are open, you’ll find that you can easily manage them as wallets from your client area. This is a good account if you do not have the experience to trade on your own. Withdrawals with LimeFx take between 2-5 business days depending on the withdrawal methods you are using. Card withdrawals will typically be faster, while wire transfers tend to take a little longer.
Is LimeFx (formerly known as Hotforex) Safe?
Traders have access to the full range of markets plus access to numerous technical indicators and a view of real-time pricing. Micro accounts can be opened for as little as a $5 deposit, whilst premium accounts require a slightly higher minimum deposit of $100. LimeFx takes trader protection very seriously and all client funds are segregated. LimeFx offers market-leading insurance to all clients with a civil liability insurance program worth up to a limit of approximately $6 million or €5 million.
Which is allowing any size or profile trader choose between various spreads and liquidity providers via automated trading platforms and perform any strategy, including News trading. LimeFx supports the MT4 and MT5 platforms in addition to its own mobile HF App, which allows clients to trade from charts and make deposits and withdrawals. It also has several excellent trading tools to assist traders further. Unfortunately, access to tools such as Autochartist, which other brokers offer as a free service, requires an account balance of 100 USD.
Hotforex (LimeFx) Demo Account
We will also discuss the pros and cons of using LimeFx broker, and help you decide if it is the right choice for you. Certainly, HotForex offers a 50% Sign-Up Reward that is instantly credited to your trading account. The promotion is accessible on Micro Account and the MetaTrader 4 trading system. HotForex boasts of being a 100% STP brokerage, which means that all trades are handled directly in the real-time market with no influence or intervention by the brokerage and nil re-quotes. HF Markets customer support is available in s more than 27 languages. You can also contact them by filling out the contact form on the official website.
Additionally, there are no fees for deposit LimeFx and LimeFx minimum deposit starts from $5. We found that LimeFx offers an excellent range of trading tools, including Autochartist, a free VPS service, and a set of Premium Trading Tools. While all these tools are provided free, we were disappointed that traders are required to make a limefx official site substantial deposit before access is provided. LimeFx offers a wide range of tradable markets, including forex trading, stocks, indices, bonds, commodities, ETFs, energy products, and even crypto CFDs. The company offers both dealing desk and non-dealing desk trading, depending on the specific account type you choose to open.
With that said, there are still no social trading features available but the service is easy to get started with a minimum deposit from $0 whether you are copying others, or if you wish to be copied. One of the most popular account types, particularly for scalping which is supported here, is the LimeFx Zero Spread account. The main downside with this broker though is the limited number of markets made available to trade in. This is limited to just more than 100 which may not suit particularly more experienced traders.