LimeFX lists 71 currency pairs, 12 cryptocurrency pairs, 12 indices, spot metals and commodities, like WTI and Brent. Overall, the asset selection is both impressive and more than ample for new and intermediate traders. I take advantage of broker’s competitive pricing and market execution to apply trading bots. LimeFX uses state-of-the-art Secure Sockets Layer (SSL) network security protocol to keep client private information safe.
Opening an Account
It is the responsibility of forex traders to utilize leverage wisely with caution. Take, for instance, Trader A in our earlier example is an aggressive trader. He purchased 5 standard lot of EurUsd with his $10,000 account size. Here is a chart that illustrates how price movement in terms of pips is relative to the 3 basic sizes of trade positions.
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Your method and strategy might be relatively high in terms of risk versus reward. Therefore, you’ll need more leverage and keep more margin in your account to execute and stay in your trades. LimeFX holds a regulatory license from the Cyprus Securities and Exchange Commission (CySEC). It also operates an unregulated but duly registered subsidiary in Vanuatu, where most international clients trade.
What is leverage in forex trading?
- The amount of leverage you use depends on your preferred trading style and how aggressive your trading is.
- While an interactive course or videos are not available, the existing content provides a well-thought-through introduction to trading.
- Overall, the asset selection is both impressive and more than ample for new and intermediate traders.
- This is perhaps one of the fastest ways by which beginner forex traders can be wiped out of the forex trading arena.
- DayTrading.com is committed to helping traders of all levels make informed decisions about which broker to trade with.
LimeFX offers a decent selection of payment methods including standard card and wire transfers as well as crypto and e-wallet solutions. This is a convenient range and I was especially happy with the inclusion of crypto payments as these are highly flexible and should work for traders based almost anywhere. Still, LimeFX has done well by providing an attractive, affordable and simple account option for day traders who will appreciate having no trading restrictions or minimum deposit requirements. When you apply leverage, you’re taking on board an added liability.
Is LimeFX a good broker?
In summary, a situation where a margin call might occur is due to use of excessive use of leverage, with inadequate capital, whilst holding on to losing trades for too long, when they should be closed. Leverage can help you to squeeze profits out of FX trading when volatility is low. Even minor price differences and small movements can result in gains if you apply leverage power with care and skill. There is no simple answer to this question because, in many ways, the best leverage to apply to your trades is a subjective and, at times, contentious issue. The leverage you limefx official site use, or need will also vary depending on the overall technique you employ.
I rank trading costs among the most defining aspects when evaluating an exchange, as they directly impact profitability. LimeFX offers traders a competitive commission-free trading environment. The EUR/USD spread ranges between 0.0 pips and 0.3 pips, with occasional spikes during the market news and trading session breaks, which LimeFX transparently displays on its website. LimeFX deploys an ECN/STP execution model and does not manipulate quotes. You can even get a VPS service for free to keep your automatic trading bots running smoothly if your own Internet is spotty.
You just open an account and make a deposit to receive an impressive 100% deposit bonus in your trading account up to a maximum amount of $2,000. Terms and conditions do apply to this promotion, especially when it comes to making withdrawals, so make sure you read and understand them before making a deposit. LimeFX provides trading in over 70 major, minor and exotic currency pairs, with especially tight forex dealing spreads. Spot gold contracts for difference (CFD) can be traded against the U.S. dollar and the EU euro, while spot silver, palladium and platinum contracts can only be traded against the U.S. dollar.
The mobile application has proven to be stable and reliable during testing. The international subsidiary, on the other hand, operates with limited oversight, and this holds the broker back from achieving a higher score. I used the live chat function limefx website on several occasions and received timely responses in a few minutes each time. The agents were friendly, and provided suitable answers to all my queries, in a personalized manner with no frustrating chatbots in sight.