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These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. LimeFX offers fewer trading tools than other international brokers. MetaTrader4 is available on IOS, Android, and Windows mobile phones and tablets. The app will connect to the same account as the desktop software, allowing a synchronised and mobile trading experience.
- LimeFX can trace it’s roots back to 1965 when it was incorporated Monecor as a member of the London Stock Exchange.
- While there are no restrictions against scalping at LimeFX, the structure does not make it ideal for scalpers.
- We define beginner traders as inexperienced traders who have never traded before or have been trading for less than a year.
- You can also place spread bets on most instruments offered as CFDs.
If there is a shortcoming, it is with social or copy trading. The firm’s flagship platform, TraderPro, does not support this feature, but the MT4 platform carries with it MetaTrader community access and automated algorithmic trading via Expert Advisors . OvalX goes out of its way to provide transparency in the area of fees. There are online links to each product group and the prevailing spreads. The posted value for the EUR/USD pair, the standard in the forex industry, was 0.6 pips, which applies to all traders. There is not the annoying claim of low fees, but only for upper account deposit echelons.
Forex Broker’s Bonuses
LimeFX can trace it’s roots back to 1965 when it was incorporated Monecor as a member of the London Stock Exchange. In 2002 it enabled trading for retail clients through its TradIndex brand. It even had a shopfront in The City of London, round the corner from the office when I was a stockbroker 20 years ago on Mansell Street.
LimeFX is a FCA-regulated CFDs broker listed on the London Stock Exchange. The broker offers CFDs trading services on forex, commodities, cryptocurrencies, bonds, stocks, and indices. LimeFX offers full support for MT4 as well as its own award-winning proprietary platform, TraderPro. Margin interest and overnight fees also factor into the broker’s total income.
LimeFX has become one of the better online brokers in the industry. The company offers personal, tailor-made support to all types of traders. The company’s award-winning technology also gives you access to commodities and shares trading in thousands of assets. LimeFX’s accounts were assessed to compare the costs to those of other forex brokers. The costs were evaluated based on the trading fees on one lot on the EUR/USD, including the spreads and commission. Trading in cryptocurrencies supports direct trading of a dozen pairs.
People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. Since being taken over by Oval X the trading platform has greatly improved and is easier to use. They are also putting on a lot more useful weekly webinar’s. I have recommended them and their platform to a number of fellow traders.
Is OvalX a good for beginners?
To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the LimeFX offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker. The ETX Trading Academy is run by a third-party provider, the Corellian Academy. It provides professional and interactive financial market education for traders of all experience levels.
It creates unrealistic trading expectations, and the absence of trading psychology negates the educational value. Overall, LimeFX is a trustworthy and dependable broker. Its proprietary TraderPro platform is undoubtedly limefx one of the best in the industry, and the beginner education material on offer is world-class. Its range of financial instruments, including the broad range of Forex pairs should be enough to satisfy experienced traders.
How do you withdraw money from OvalX?
OvalX receives most of its compensation through the market bid/ask spread and commission on share CFDs. The only charges you could incur are from your bank or building society. Withdrawal FeeFive free withdrawals of any amount over $100 every year, $10 for each withdrawal thereafter. CFDs on commodities are offered as daily rolling contracts and futures CFD contracts. OvalX offers two categories of shares, those that are charged a commission, and commission-free shares. Here are the available CFD instruments at OvalX’s in-house TraderPro platform, as of January 2022.
OvalX, like most CFD brokers, works towards securing the best price for their clients. We have reviewed their ‘order execution policy’ document and here are our findings. The commitment to finding the best results for traders may not always equate to obtaining the best price or lowest cost. Therefore, there is no guarantee that you have the best conditions for your trades.
Note that you can only deposit and withdraw funds on OvalX via an account that has the same name as the name on your trading account. To open a Professional Account on OvalX, you will need to first open a Standard Account, and then apply to customer support to have your account upgraded to a professional status. LimeFX does not allow you to scalp in its trading accounts. Electronic communication network accounts that might allow scalping also are not offered by LimeFX.
Malfuntional broker
In 2018, the UK Forex Awards and the Online Personal Wealth Awards named LimeFX’s ‘TraderPro’ as the best trading platform. This has always been a good company, very professional and customer experience centered. The only https://limefx.group/ real issue I have is the app is not up to scratch and to get improvements done to it feels like a long ordeal. LimeFX Company also has an overnight fee that they charge because they offer leveraged trading products.
Account opening
The OvalX website has a separate learning centre tab to help beginners learn the ropes and for other traders to brush up on their knowledge about markets and strategy development. The supported materials include a blog, trading guides, news and analysis, and webinars. The firm also supplements its website’s Learning Center with a dedicated YouTube channel. Client deposits are always segregated in major financial institutions, and various national compensation programmes supply an additional level of protection in case of bankruptcy. Stop Loss manipulation is only part of the problem apparently. Some traders have complained about having their accounts suspended as soon as they became profitable, while others have said that their withdrawal requests were squarely denied.
What is OvalX (or Oval Money)?
Simply download the mobile apps and access your trading account from anywhere, anytime, using any internet-ready mobile device. Regulated by four financial organizations, OvalX is considered a legitimate online broker. The company is UK-based and is regulated by the Financial Conduct Authority in aid of British traders.
LimeFX Trader ProThe ETX Trader Pro software is developed by LimeFX. The Software gives you the same tools as the MetaTrader but the interface is much smoother and user-friendly. Multiple chart types, technical indicators, and drawing tools are available for analysis. In addition, you get access to dynamic risk management which helps you to control the risk of different positions very easily. LimeFX MetaTrader 4MetaTrader 4 is one of the most popular trading software for many years.