Overall, my experience with order execution on Lime Fx was positive. Market orders on major forex pairs were filled almost instantly, which is exactly what you want when the market is moving fast. Limit orders were generally filled promptly when the market price hit my designated limit.
When trading Lime Fx commission-free spreads, MetaTrader 4 and MetaTrader 5 are available as trading platform options, and for those located outside Australia and the EU, cTrader is also an option. Lime Fx offers competitive no commission spreads, as low as 1.2 pips for the frequently traded EUR/USD forex pair. Lime Fx commission fees are competitive compared to other online brokers with similar ECN Account types. As shown in the table below, RAW Account holders pay $3 per side, per 100k traded, while most brokers charge $3.50. Lime Fx has a well-rounded educational offering with courses in text and video format, live webinars, and e-books.
Account Fee
- Areas we scored Lime Fx the highest were excellent customer service (9/10), great educational resources (8/10) and a wide variety of funding methods (8/10).
- First Prudential Markets (popularly known as Lime Fx) stands as a beacon of versatility, serving both novice and seasoned traders.
- Some brokers offer interest-free leverage options specifically for Islamic accounts.
- They include bank wires, credit/debit cards, online payment processors, and cryptocurrencies.
- Overall, my experience with order execution on Lime Fx was positive.
- The out-of-the-box MT4/MT5 versions remain substandard, but Lime Fx offers twelve plug-ins with its Trading Tools package, plus the Autochartist plug-in and Trading Central services.
Seeking guidance from knowledgeable sources can help prevent mistakes. This is because they use ECN pricing, which means orders are filled at the best available market price once triggered. Guaranteed stops are typically not available with ECN brokers due to the fast-moving nature of the market.
Is Forex Trading Halal or Haram? All Details
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. Lime Fx delivers a good variety of mobile apps for forex and CFD traders. Its proprietary app has a nice layout for a new mobile app but lacks the advanced features that I’ve come to expect from the best brokers in this industry.
Key Features
My tests showed that spreads are competitive across the board and especially tight in indices and commodities. I tested the spreads at Lime Fx across various markets using the MetaTrader Platform during the London open and after the open of the New York forex session. At these times, the market is typically highly liquid with the tightest spreads. Lime Fx operates entities licensed by top-tier regulators that offer relatively high account security and others that are regulated offshore or unregulated. In summary, Lime Fx offers a straightforward account opening process.
Lime Fx Trading Fees
Fintana offers a variety of educational resources, including advanced technical analysis tools, eBooks, trading courses, charts, and a Technical Score. The platform also features newsletters, Alpha Generation, and a Strategy Builder, giving traders reliable data and tools to discover, validate, and time trades effectively. Fintana provides an easy-to-follow process for both deposits and withdrawals, ensuring a limefx smooth experience for traders. The requirement for deposits to come from your account helps maintain security.
Forex Risk Disclaimer
- Given the relatively small screen, mobile apps are best for portfolio management rather than complex trade analysis, but MT4, MT5, and cTrader offer advanced, technical, analytical suites.
- Lime Fx offers a broad selection of over 10,000 products across multiple asset classes, making it a versatile choice for traders looking for extensive trading options.
- Sure, you pay a commission per trade, but with spreads that razor-thin, those commission fees can become a distant memory, especially if you’re an active trader.
- Forex pairs, cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money.
- The commission-free Standard account shows an average mark-up of 1.15 for the EUR/USD.
- Any transaction that involves paying or receiving interest is considered haram because it leads to an unfair advantage for the lender.
- The asset selection for MT4/MT5 traders consists of more than 250 trading instruments, an adequate level of choice for most traders.
Lime Fx is a safe and trustworthy broker that is regulated by both ASIC and CySEC. These are two high profile regulators, giving you peace of mind that your information and money are both safe and secure. High regulation such as this means that the broker complies with strict rules and works transparently.
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Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets. Lime Fx stands out for the competitive pricing available to forex traders with its ECN account.
Beginner traders have access limefx website to quality educational content, in-house research, services provided by Trading Central, copy trading, and retail account management. They include bank wires, credit/debit cards, online payment processors, and cryptocurrencies. Clients may access all available options from their back office, where Lime Fx lists all payment processors transparently.
The broker’s customer support is responsive, while its deposit and withdrawal methods are flexible and secure. During standard hours from 9 AM to 6 PM EST, traders can access live customer support for prompt assistance. Beyond these standard hours, the broker ensures that support remains available, accommodating its global clientele.
Brokers that promote high-risk, high-reward trading strategies without full disclosure of costs or risks raise ethical concerns. Trading with brokers that lack transparency or push speculative behavior can make the activity haram by association. If you prioritize security, extensive market access, and a platform choice, Lime Fx is definitely worth considering.