13 Best Forex Brokers for 2024

Finally, they have regular webinars with guests talking about the latest goings on. If you are using a credit card, there is no transaction fee for depositing to a MetaTrader account, but there is a 3.18% fee for most currencies if you are using the Iress platform. These contain a lot of the same features that are seen with their desktop versions and have been optimised for mobile devices. Naturally, there is not as many options for analysis or charting options on the mobile version, but it certainly does the job for what you need it for. LimeFx does not charge an inactivity fee, which benefits traders who may not trade frequently. While there’s no account inactivity fee, it’s essential to note that other fees might apply.

Guaranteed Stop Order Fee

LimeFx caters to desktop users by offering trading software compatible with both Windows and Mac operating systems. Windows users can download the desktop platform, while Mac users can access it through web-based solutions. These desktop apps provide advanced charting tools, user-friendly interfaces, and support for MetaTrader, algo-trading, and copy trading, making them suitable for traders of all levels and preferences. At LimeFx clients can enjoy trading in over +10,000 CFD instruments spread across 5 asset classes, access a good range of trading platforms (MT4, MT5 and IRESS), spreads starting from 0.0 pips and ECN trading conditions. LimeFx sets itself apart in the competitive broker landscape with its ECN-style pricing and extensive asset offerings.

How do I withdraw money from LimeFx?

Eightcap uses a third-party provider TradeProofer to showcase its spreads compared to other brokers. I discovered that the spread for BTC/USD was around 12 USD, which is significantly better than that of some other brokers that had spreads of 30 USD and, in some cases, as high as 84 USD. The FXTM Invest portal, the broker’s limefx forex broker copy trading service, allows professionals to become strategy managers and earn extra income from followers. Managers can receive up to a 30% profit share on profitable trades from each investor following their strategy. Joey Shadeck is the Content Strategist and Research Analyst for BrokerNotes.co and ForexBrokers.com.

Professional Accounts

One reason foreign exchange trading has grown in popularity over the years is because of CFD trading accounts. A ‘contract for difference’ trading https://limefx.club/ account allows you to trade long and short using leverage. Many brokers will advertise fee-free deposits but then may charge for withdrawals.

Simultaneously, its extensive range of instruments, low spreads, and advanced trading tools cater to professional traders. However, it’s important to note that LimeFx does not currently accept traders from the United States. This diverse account offering ensures inclusivity and flexibility for traders of varying experience levels and preferences. It offers a broad variety of brokerage services geared towards sophisticated active traders, investors, professionals, and institutions. Smaller account holders may be disappointed by higher account minimums, a variety of fees, and fewer customer support options. Tiered accounts offer lower trading costs and added benefits as equity grows, but the majority of retail traders will have a tough time reaching the higher customer tiers.

1. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets.
2. The availability of trading platforms for demo accounts may vary depending on your location, but all users have access to demo versions of MetaTrader 4 and MetaTrader 5.
3. And LimeFx has gone the extra mile in adding the AutoChartist plugin for MetaTrader to their version.
4. LimeFx is considered Trusted, with an overall Trust Score of 87 out of 99.
5. You also get dozens of indicators for use in your analysis, and drawing tools to make your analysis a work of art.
6. While designed for stocks, other selected CFD products are also available on the platform.

With access to high leverage, multiple trading platforms, and a range of high-quality research tools, Exness is the best overall forex broker to consider this year. As shown in the table below, the availability of these platforms varies depending on your location and the regulatory jurisdiction you fall under. Additionally, each platform is available on different devices, ranging from mobile apps, to webtrader options, and desktop trading platforms. LimeFx provides traders with a wide selection of advanced trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, Mottai, Iress, TradingView, and the LimeFx trading app.

Despite this, LimeFx maintains transparency and boasts a nearly 20-year track record, marking it as an above-average performer in the industry. The MT4/MT5, cTrader, TradingView, Mottai, and Iress platforms cater to advanced traders using sophisticated order types and robust charting. Tools like VPS cater to traders using automated trading strategies and MAM/PAMM enables clients to act as money managers.

My inquiries ranged from basic questions relating to account features to more complex themes like order execution. Traders have the flexibility of using all major order types via the MT4 app, including market orders, limit orders, and stop-loss orders. Open positions can be modified by changing stop loss and take profit order levels. My live tests showed that swap fees at LimeFx are average for the industry. I tested the spreads at LimeFx across various markets using the MetaTrader Platform during the London open and after the open of the New York forex session.

LimeFx has a well-rounded educational offering with courses in text and video format, live webinars, and e-books. The volume is substantial and covers beginner, intermediate, and advanced-level material. Traders can gain a solid foundation of knowledge, and I rate the content as better than average for the industry. One of the reasons that traders are attracted to the forex and CFD markets is the high degree of available leverage. Leverage is the use of borrowed funds to increase the size of your trading positions beyond what would be possible using only the cash in your account. The MT4 mobile app allows traders to perform all basic functions on the go, but usability and design are not as smooth as competing apps from leading brokers.

To deliver on this successfully, IG has adopted the time-honored adage, “go big or go home” because it can. Low spread costs, an emphasis on customer service and education, actionable research, and functional user interfaces make this broker well-suited to compete in the online forex broker market. On top of competitive spreads and zero commission, tastyfx offers its own proprietary trading platform. There are over 50 indicators available in the mobile app covering all the most well-known ones, such as Bollinger Bands and MACD, and other newer ones, such as the Stochastic Relative Strength Index. While there are no drawing tools in the app, it still provides a lot of features not found in other forex brokers’ trading apps and is well worth trying out.

Saxo Bank has operated in the United Kingdom since 2006 through its subsidiary Saxo Capital Markets U.K. Ltd (SCML) and, like many forex brokers, it doesn’t accept U.S. traders. One of the standout features of LimeFx is its competitive spreads, which enhance the cost-effectiveness of trading across various asset classes. This can significantly benefit traders by reducing their transaction costs and optimizing profitability. Furthermore, the broker’s commitment to regulatory compliance adds an extra layer of security for clients, assuring them of a safe trading environment.

Available leverage differs according to the asset class, with the most leverage available for CFDs on forex and the least for CFDs on crypto. As an LimeFx Pro Account holder you will waive certain protections. Among these, you will not be entitled to the protections afforded to retail clients under the Corporations Act 2001. The range of deposit methods and speed of processing is better than average for the industry.

Through our hands-on analysis, we’ve narrowed down the top 13 options to meet diverse trading needs. To open a trading account with Interactive Brokers, you’ll need to make an initial minimum deposit of $0. All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go. We test mobile apps and products using iPhones running iOS 17 and Samsung devices running Android OS 14. LimeFx supports a variety of funding methods, including bank wires, Neteller, PayPal, credit cards, and Skrill, providing flexible options for account deposits and withdrawals.

In my experience, this can lead to bigger profits, as well as bigger losses. During our live fee test, I found the spread for EUR/USD during the London and New York trading session averaged 0.9 pips. This is better than the industry average of 1.0 pips for a commission-free trading account. Interactive Brokers provides traders 90 currency pairs (e.g., EUR/USD) compared to LimeFx’s 71 available pairs. In our analysis of 23 international regulators across 62 of the best forex brokers, Interactive Brokers is considered Highly Trusted, with an overall Trust Score of 99 out of 99.