Review of limefx forex broker Detailed info and Screenshots
There are also groups containing the Ask and Average prices for the many instruments, these are indicative only but opens a different aspect of trading. ECN Account is limefx’s main account that features https://limefx.club/ aggregating liquidity technology, therefore it should provide tight spreads, great execution time and liquidity. Each participant acts as a liquidity provider and Level 2 Market depth is available.
- Rollover rates, or swaps, are how much you get credited or debited for positions you hold overnight, depending on the interest rates in those currencies.
- The Welcome Bonus is a small addon bonus for Micro Accounts that is withdrawable after 100 traded micro-lots.
- Clicking on the chat cloud button will show many channels FXOpne can be reached.
- Many brokers only fill your sell orders if the bid price reaches your sell order price, for example.
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limefx offers ECN accounts with very competitive spreads. An ECN account interacts directly with market liquidity, instead of being passed through an intermediary who marks up the spread. Spreads typically range from 0.1 to 0.4 pips on the EURUSD during the New York and London sessions. In exchange for the small spread, traders pay a small commission on each trade.
No limitations are set and the trader will have more than 50 tradeable instruments as stated, under the same liquidity conditions as the ECN type. STP Account also has more tolerable Margin Call and Stop Out levels. STP Account does not list crypto assets and some other commodities for trading, only the ECN Account has all assets available. The broker’s main selling points are low spreads, diversified account types, low minimum deposit, their PAMM, and crypto trading. Ratings the broker has received on the benchmark sites are mixed.
What trading platforms does limefx support?
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In fact, this could be a major consideration if you already have a library of automated trading scripts. Commissions aren’t the only criteria you’ll want to bear in when comparing ECN brokers. You’ll also want to check how many liquidity providers they work with. The more liquidity providers compete for your trades, the deeper the market and the tighter the bid/ask spreads.
limefx MT4 Review
It is affected by the trading volume and the equity size. Bigger the equity, less the commission but also trading volume can further decrease it. For ECN MT4/MT5 Accounts, the commission can be from $10 per lot traded to 3$ – if a trader reaches more than 250,000,000 units of trading volume without breaching the $1000 equity. For Equities more than $1,000, the commission is further reduced from $5 to $3, and from $25,001 equity, it is $3.6 to $3. There are differences regarding the Margin Call and Stop Out across the account types. ECN Account has this set to 100% Margin Call and 50% Stop Out, STP Account is set to 50% and 30% and Micro to 20% and 10% Stop Out.
The main four charts will resemble default settings but limefx wants to showcase their crypto assets trading for the ECN Account type. So, apart from two major Forex currency limefx forex broker pairs on the H4 timeframe, there are also BTC/USD and LTC/USD. Of course, One-click trading can be enabled but not for cryptocurrencies as we have experienced in the MT4.
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Usually, the re-quoted price is worse than the original price you wanted, and it wastes time which could hurt your trade timing. Don’t trade with brokers that requote or that give you constant slippage. Another thing I really like is that it is a true ECN broker, meaning your sell orders can be filled on the offer and your buy orders can be filled at the bid . This means you can make the spread, instead of paying it.
- The broker also accepts deposits and withdrawals in Bitcoin.
- This is also convenient using the One-click trading and Level 2 plugin with more options for trading orders.
- I can easily change the stop loss and target as conditions change by altering the numbers in the SL and TP boxes before each trade.
- limefx has recently changed its deposit bonus system to embrace some needed alterations.
- Note that the account will not have actual Gold backed up, just a representation of Gold.