The central banks of both countries implemented various measures to stabilise their economies, influencing the exchange rate of the pair. An STP (Straight Through Processing) account provides you with an opportunity to trade with no additional commissions – the commission is included in the spread. The minimum transaction size is only 0.01 lot, and the minimum “step” is a 0.01 lot. As I explore the features of LimeFX broker’s micro account, I noticed that the minimum micro lot size is set at 0.1.
In this LimeFX article, we’ll explain what factors can help you choose a reliable broker. Furthermore, for the problem of scalping, remember that scalping is trading with very short opening and closing price times and can make many entries. Because it generates many entries, spreads are calculated more frequently.
- I personally find this easy-to-use risk management tool very useful to help calculate margin and pip values before opening a trade.
- Futhermore, what about the type of account that offers a Dealing Desk, is that not good?
- Some of the benefits of ECN trading like being able to get a good insight into the situation and knowing the order of other trades also offer no fees at all during trading.
- Because of this, all the brokers that have this mechanism are called Market Maker Brokers.
For cards, the limit is 15,000 (GBP, USD, or EUR) and for e-wallets, maximum deposits are either 10,000 or 20,000. Other fees to be aware of include swap charges on positions held overnight. LimeFX also charges a $10 monthly inactivity fee after a profile has been dormant for six months. To get started, sign in to the LimeFX client portal and add a TradingView account. Finally, sign up with TradingView and connect your profile with your LimeFX account.
Regulation and Licensing
Notable options include Skrill, WebMoney, and Perfect Money, along with the company’s own documentation process. Additionally, users can conveniently withdraw funds via credit card or bank transfer, further expanding the withdrawal and deposit options offered by the company. But unfortunately, I have searched and found that the broker is only registered with CySEC (Cyprus), FCA (UK), and ASIC (Australia), but not regulated in the US. Maybe US citizens can trade using LimeFX, but that’s too risky because automatically your account doesn’t have good security. These differences in order execution and pricing can affect how you use SL and TP orders.
This can lead to tighter spreads when the market’s buzzing with activity. From what I understand, ECN brokers without DMA act as a middleman between traders and liquidity providers, while ECN brokers with DMA provide direct access to the liquidity pool. This means that with DMA, traders can see the actual market depth and have greater transparency in pricing. I am curious about how DMA affects order execution speed and slippage, as well as the potential advantages and disadvantages compared to ECN brokers without DMA.
Since the very start, LimeFX has aimed to make forex trading more professional, easy to access, and secure. LimeFX also offer PAMM (Percentage Allocation Master Module) accounts which enables clients (followers) to follow strategies of other traders (masters). The master trades their own funds through the PAMM whilst the PAMM technology allows the trading activity to be replicated on the follower’s accounts. Funds are allocated to a PAMM and are segregated so that they cannot be used for any purpose other than the PAMM.
There is also a $1 welcome bonus for Micro accounts and a ForexCup Trading Contest bonus, subject to demo contest terms and conditions. The mobile applications provide the same features as the desktop versions as well as added functionality including push notifications and SMS alerts. Users can also view their account and trading history, execute trades in one click, and toggle between live charts and graphs. When you access any of the above instruments via your ECN trading system, it’s crucial that you understand the risks involved. As an ECN account broker, we will always execute your trade at the best available price, but that promise does not guarantee you will make a profit.
When opening an online broker account, you need to carefully evaluate several factors. They include the licence to operate in your region, the quality of customer service, and the overall reputation of the brokerage company. I mean, some brokers call them ECN Broker but in fact, they are STP account that copy the trading term of ECN Broker. I mean what is the difference between ECN Broker and True ECN Broker. Tailor the MT4 trading platform to work with the individual style and strategies that are best for you. Signing up to MT4 with LimeFX puts you in complete control at all times.
AUD/CAD Forex Trading
This platform is connected to a vast retail Forex liquidity pool, comprising numerous leading banks and liquidity providers. Consequently, LimeFX’s MT ECN creates a highly liquid and competitive marketplace for traders. When it comes to the suitability of STP for beginners, it really depends on the individual’s level of experience and trading https://limefx.name/ goals. STP is a type of execution that can provide traders with a more transparent view of the market, but it can also come with higher spreads or commission charges. When it comes to trading or funding with them, I have never had any problems, and the fact that they are regulated provides me with the peace of mind that my funds are secure.
- A secondary here could be a small bank or other financial institution connected to a major forex clearing house.
- This account is ideal for novice traders
looking to keep pricing simple.
- When you start out on your ECN trading journey, it’s important to have clearly defined goals.
- Local phone numbers are offered in Russia, New Zealand, Germany, and France.
- LimeFX is a good, reliable all-round broker with competitive pricing that will especially suit high-volume traders who can benefit from fee discounts.
You’re trading with a true ECN broker trusted by more than 1 million traders worldwide. Quality customer support makes a significant difference, especially if you encounter technical issues, make account enquiries, or need urgent assistance. LimeFX provides excellent customer support, with a dedicated team available to assist clients with any issues or questions. To contact us directly, use a Live Chat, email us, or submit a ticket on the customer support portal. LimeFX is a regulated broker that operates in four jurisdictions — the UK, the EU, Australia, and internationally.
You’re trading with a true ECN broker
The demo account will allow you to test the ECN platform and practice trading in a simulated environment without risking any real money. My broker doesn’t offer anything like knowing another trader’s orders without a spread. Because my broker does not have all his ECN features and yet it is regulated. One of the main benefits of ECN trading is the ability to access deep liquidity pools and trade with tight spreads.
Individuals investing via the ECN profile will trade on the raw price from banks and liquidity providers, and with this, pay a small commission fee. On the other hand, STP account holders will incur no separate commission fee. The 1990s and early 2000s saw developments in both countries’ economies.
Where can I get more information about the MT4 platform?
Deposits made via bank wire transfer must be a minimum of $300 or equivalent currency. For WebMoney, Trustly, Neteller, and Skrill, minimum deposits are $50. LimeFX also offers TickTrader, limefx broker reviews a new, proprietary trading platform offering much of the same features as MetaTrader and more. Upon completing the application you will be provided a username and password.
Trading hours schedule for Summer Bank Holiday in UK
Therefore, make sure that the account you want to open offers the instruments that you wish to trade. You can use the commission calculator to get instant commission calculations per half-turn or per round-turn for any FX currency pair or metal. You can specify the lot size you want to work out the commission for and click individual currency pairs for the detailed formulas behind the calculations. This plugin allows you to quickly place trades at the best price with a single click. The 5 levels of market depth show you the available volumes of liquidity for any currency pair. It supports market and pending orders with the ability to pre-set order size, take profit and stop loss.
WE WANT YOU TO BE A SUCCESSFUL TRADER
Trading on LimeFX is made easier because traders can add insight into trading by entering contests. LimeFX Broker offers weekly and monthly trading contests on demo accounts through the ForexCup.com site. Traders can join competitions that are free of charge to hone their skills.
This liquidity is combined with the price aggregating technology offered by LimeFX. It enables the company to offer real variable market spreads beginning at only 0 pips and flawless order execution. Because your order is matched against an opposing order from another ECN participant, LimeFX does not have a dealing desk, which ensures no potential for a conflict of interest. Demo accounts are available if you wish to practice your trading on different platforms before opening a real account. I personally would start on a demo first before funding a real account with a new broker. This is because I like to get a feel for the trading conditions to see if they are suitable before making a financial commitment.