The broker authorized and regulated by two major UK Financial Conduct Authority and by the Financial Services Authority of Seychelles, hence either entity includes strict regulations. Besides, LimeFX now grows to Asia region as well and establishes its entity to cover the proposal. Erica is a finance professional who has over a decade of experience in the finance sector as a management consultant. After years of reporting on forex, stock markets, and finance, she now contributes her strong financial skills with the CoinNewsSpan team. Since 2014, she has been deeply involved in the blockchain and cryptocurrency space.

Traders must check regulation and their safety with the broker before opening an account. The average typical spread for EUR/USD and CFD on Gold is 0.7 pips Trend line (technical analysis) and 20 pips respectively. The spreads with the commission-based accounts are as low as 0.1 pip with a commission of 7$ for a round trade of a standard lot.

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There is no local office in Nigeria and local phone support is not available. It supports local GT bank deposits and withdrawals without any additional commission. LimeFX allows opening the Micro, standard, as well as, Ultra-Low account with 5$ as a minimum deposit. Although, the spreads at both of these account types differ largely. The average typical spread for EUR/USD is 1.6 and 0.8 pips respectively with the Standard and Ultra Low account respectively.

Please note also that there is a company representative working on negative feedback, he is inactive though. Moreover, the company’s strive to achieve targets quickly and effectively while posing LimeFX as a high-tech and trustable Forex broker, either to start limefx scammers or to gain new apex with. Trading PlatformThe trading platform is software that is designed to speculate the market and open/close trading positions online. Some brokers also offer their own trading platforms while many rely on third-party trading platforms.

Trades held overnight are subjected to overnight rollover or interest fees. Every currency pair that you trade has its own overnight interest rate. Overnight interest rates are determined at the Interbank level, not by the broker, and it varies between 1.5 % and 6%.

Deposit Options

Trading forex & CFDs is risky, and you may lose your entire capital. Remember to learn about forex markets & leveraged products before investing any real money. A demo account can be quite useful to check all the details of the trading platform before opening a real account. Traders must ensure that the trading software available with the regulated broker is user-friendly. They should also make themselves familiar with the terminologies and features to make better trading decisions. Each forex trader must know which broker is best suited for oneself.

It holds the regulatory license from FCA , FSCA , and CySEC (278/15). LimeFX is a CySEC (372/18) regulated broker that offers trading at low cost but the minimum deposit requirement is high (100$). The Naira is exclusively available for Nigerian clients as the base currency of the account. Stock certificate The minimum deposit requirement is 50$ or ₦10,000 to start trading on 63 currency pairs and 500+ CFDs. Some brokers put orders directly into the market exchange, while others take the other side of the trade and ‘trade against their clients’ assuming they will lose most of the time.

They have all the information about the trading of their customers so it is very easy for them to reverse their trades on another account. As traders, we are forced to rely upon Forex brokers to be able to trade. Without them we would have no way of placing orders and no way of earning money. Online webinars, live market analysis, technical analysis, regularly held seminars and traders community of minded traders all is a very good level and available for all. You can also compare LimeFX trading fees to another popular broker LimeFX.

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In the tale we compare Standard spread conditions, while Pro accounts are based on a commission of 2 per side and interbank spreads from 0 pips. LimeFX is a new player among the brokers and online trading world since the company established in 2014 with its headquarter in London, UK as well as offices in Seychelles. It is not yet regulated by any local regulatory authorities like CBN or SEC but interested individuals in Nigeria can trade forex through offshore regulated brokers. As there is no CBN or SEC regulation on forex trading in Nigeria, it is important to seek a broker with a regulatory license from reputed offshore entities. Hence, the third-party risk or counterparty risk can be mitigated by choosing a well-regulated broker.

AUTO TRADE USING EXPERT ADVISOR Metatrader4Trader – MT4’s Expert Advisor program can be used to implement trading strategies and… Use ForexPeaceArmy.com to read reviews on the brokers that you are researching. The best criteria are the size of the company , speed of their platform and as well as their credibility and honesty. Also, security of your funds and as well as the assurance that you are in good hands are the most important considerations.

Although, registered clients are generally served before unregistered clients. LimeFX is ideal for those who seek low-cost commission-based forex trading with a well-regulated broker. LimeFX does not have a local office in Nigeria and no local phone support is available for customer support. The support executives can be reached out through the live chat window and email.

The minimum deposit amount can be different for each of the available methods. The processing time can also be different for each of the funding and withdrawal methods. Spreads and FeesThe amount that you pay to the broker can greatly affect the profit and loss booked while trading. The spreads, commission, and all the fees involved in trading must be checked and compared thoroughly before finalizing a broker.

The price has to change enough in order to cover the trading cost, the spread. Contrary to Variable Spread, you know exactly how much spread you’re charge in every trade you open with a Fixed Spread account. Knowing how much spread your broker charges is very important because entering a position at your desired price does not guarantee that you’ll get that price. The price you’ll get is the price when the brokerage receives your order plus the spread. As you probably know, the Forex market is open 24-hours a day, so ideally, your broker should offer client support at any time. Live chat and phone support is the best medium to contact the help desk rather than email.

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Connecting MT4 to a Mobile Device As people are becoming more dependent on electronic devices, many forex brokers now offer applications t… /currencytrading/questions.php – The 15 questions at the end of this page are pure gold and are worth asking your potential brokers. You can find some limefx scammers of the answers online with their websites but otherwise you can get on with their live support or call them on the phone to ask these questions. The speed at which your orders get filled is very important and it is mandatory that brokers should fill orders with the best possible price.

Here we will check a brief of spreads and commission charges that are defined by the account type. Customer SupportThis may not be the most important factor to consider before choosing a forex broker but can be very helpful. It is always good to choose a forex broker that offers diligent customer support service. Traders must ensure that their queries limefx reviews are solved within time and the connectivity with the support executives should be fast and convenient. Availability of local offices also allows traders to take advantage of the customer support service through local phone numbers. Although, it is not essential for a broker to provide local phone support if they have a local office in Nigeria.

• LimeFX is a multiply regulated broker is various jurisdictions, thus considered a safe broker to trade with.
• SafetyYou don’t want to be cheated and conned by the fake brokers in the market.
• Like most brokers the broker using as mainstay trusted and well-triedMT4.
• No broker is perfect for every trader, but by considering the key factors on choosing the right broker, the chances of your trading success can increase substantially.

You may need to resolve this quickly by calling to your broker for help. When you search for a broker, you will find countless web results for online brokers trying to help you out through their “unique” software technologies. These online brokers use special kinds of software that help them scam you out of your money.

You need to explore different types of faucets and decide for yourself which suits you best to you. Since the popularity of Bitcoin has gained, various ways have been unearthed to spread awareness and earn more out of the cryptocurrency. Faucets are one of those simpler means to get some additional cents. Manga and doujinshi, at HentaiFox we have thousands of xxx galleries that can be downloaded by simply registering a free account. If drawn art isn’t enough HentaiFox even has a vast amount of hentai anime videos streamed free online.

The Role Of Forex Brokerage Firms

Many brokers help their clients succeed, while some brokers are setup to make traders fail. The choice of broker you make will influence your ability to make profits month by month. Giving your time and effort into investigating the factors outlined above can save you from much heartache and grief. No broker is perfect for every trader, but by considering the key factors on choosing the right broker, the chances of your trading success can increase substantially. There are still brokers that claim to be regulated but practice spread manipulation and stop hunting, especially during times of high volatility. It’s very important to verify the membership status of your broker to the corresponding regulatory agency as well as read reviews from real traders that have been with the broker.

If the market maker does not offset the trader’s position, the loss generated when a stop loss is triggered becomes the market maker’s gain. You can see how this is not in the best interest of the trader, but rather only in the interest of the broker. The safe terminal, gainful bonuses, quality analytics, training option – all this also describes the broker in a positive way.

The broker is a member of the company Tmill UK Limited, which is subject to regulation of the Financial Supervision Agency of UK (FCA, № ). The company possesses also the FSA license of Seychelles (LimeFX Ltd Seychelles, № SD008), is registered in Estonian Ministry of Economic Affairs (№ VVT000289). Yet, customer service isn’t available during the weekends, so you can leave your request via the contact form to be advised. No, LimeFX is not a scam, is a secure broker with good reputation and low risk Forex and CFD trading environment. On the negative side proposal vary according to the entity and there is no 24/7 support, spreads for Forex are little higher than average.

In Forex trading, you want your broker to be able to answer all of your questions and queries. If your broker cannot respond to your messages and problems, move on. Make sure that your chosen broker has a good customer service team – if a broker does not, this will indicate that they are a cheat. If you notice any suspicious activity regarding your investments and your broker cannot explain, then a good suggestion would be to replace him. Most STP brokers generate their revenue by adding the spread to the price that they obtained from the liquidity providers. The trouble is that there are some bad brokers out there in the world, and likely there are more bad brokers than there are good forex brokers.