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Since October 2020, LimeFx, part of Swiss-based Guru Capital, purchased the online brokerage from JRJ Group. I also recommend checking the costs from the payment processor to the bank account unless a debit/credit card is available. The withdrawal processing times depend on the jurisdiction and method and can take between one and seven business days. MT4 offers copy trading and features thousands of EAs, but the relatively poor trading conditions make both a less desirable option at LimeFx. Eight chart types allow traders to visualize price action in a manner that suits them best. I rank trading costs among the most defining aspects when evaluating a Forex broker, as they directly impact trading profitability.
Instead, the broker provides two different platforms to suit any trader’s trading style. A trader could either be on the ETX TraderPro or the ETX MT4. When an account is opened on any of these platforms, it is still permitted to trade on the other platform. OvaX’s parent company is listed on a stock exchange and regulated by top-tier financial regulators, both of which make the platform safe for traders and have low risk.
These documents can be quickly loaded on the website by dragging and dropping them on the form. Funds can be deposited and withdrawn on the LimeFx platform through several methods. The minimum deposit amount on accounts is £250, or it is equivalent to your chosen currency.
Forex with LimeFx can be carried out in two separate ways, such as a CFD or as a Spread bet. This is one of the vital decisions to make because it is a core strategy of any trade, and the kind of deal selected may influence the period a position is held open. As excellent researchers, we have spent several months studying several CFD platforms.
It is highly recommended that investors fully understand the risks or seek independent advice if necessary. The asset classes that LimeFx allows clients to trade are summarized below. Founded in 1965, LimeFx is one of the most trustworthy brokerages operational today. It maintains two subsidiaries, one with oversight from the UK FCA and another regulated by the CySEC. Its corporate owner, Monecor Ltd, is also a member of the London Stock Exchange , and LimeFx has a spotless regulatory track record. It is ideal to use an option besides the bank or credit/debit card used for day-to-day financial operations.
LimeFx offers traders demo accounts for both trading platforms, and I did not find a time limit, which I appreciate, as it grants sufficient time for traders to test new strategies. I want to caution beginner traders about using a demo account as an educational tool. It creates unrealistic trading expectations, and the absence of trading psychology negates the educational value. In addition, ETX offers a virtual private server located in close proximity to its MT4 servers so you can keep your trading robots active in the markets when your PC is turned off.
In addition, the TraderPro and MT4 platforms are intuitive and can be learned quickly by most new traders. Both platforms offer trading directly from charts, a wide variety of technical indicators and customizable workspaces. While there are no restrictions against scalping at LimeFx, the structure does not make it ideal for scalpers. Therefore, traders who wish to scalp the Forex market will find more suitable brokers with an infrastructure that supports it.
If you have concerns about your account or questions about OvalX in general, inquiries are promptly answered and the customer support agents are friendly and educated. The multilingual customer service staff of OvalX can be reached by phone, live chat, email, or in person. News regarding certain Forex or CFDs can be found in the Trading Instruments section, whereas data about OvalX as a CFD trading platform can be found in the Platforms section. These three parts include a wealth of information that is very helpful for newcomers. During registration, you have the option of using this site for trading. The MT4 platform does not allow you to alter your account currency; instead, you must register a new account if you desire a different account currency.
We were offered bonuses as well, but we´ll cover this in the sections below. I haven’t made a withdrawal request as of yet so I cannot give an opinion, but we’ll add comments on this matter after when the time comes. I have several accounts in ETX and never had a case when rules and regalements were violated. I really do not have concerns regarding execution to contact support but I always get response when needed most.
The charts can be customized by drag and drop options which is a huge advantage because you can do it very fast. Especially for beginners, you will get a better overview of the markets than in MetaTrader 4. In conclusion, the ETX Trader Pro is a little bit better than the MetaTrader 4 but does not support automated trading. OvalX is a reputable broker with multiple CFDs for beginners to trade. There’s more comprehensive educational content for beginners. The customer support of OvalX is not so good, as they are not available for 24 hours on any day, which makes it a bit difficult to make an inquiry on weekends or nights.
If you withdraw using this method, you will be looking at 2-3 working days before the funds process. This app is working a lot better since the major 2017 overhaul as a ton of the bugs and responsiveness issues have been fixed. The charting options are now usable and there are 8 different drawing tools and six different indicators you can use through this app. They are eyeing up their competition by attempting to bring a strong mobile offering to the table. The ETX brand first came to light in 2008 and they are now part of the London Stock Exchange. This allows them to have direct access to the markets on this exchange in addition to their other offerings.
However, they offer demo accounts for beginners to become familiar with the platform before they start trading with real money. OvalX is a CFDs broker that allows you to trade financial instruments, including forex, commodities, cryptocurrencies, indices, and shares. The ETX TraderPro trading platform gives you access to advanced trading tools like a complete charting package. This lets you take advantage of trading opportunities in real time with powerful technical analysis tools powered by the latest technology. LimeFx offers plenty of choice when it comes to trading options, including various platforms and a wide variety of tradable assets. LimeFx caters to most international traders, including residents of the UK, Bangladesh, the UAE, and South Africa.
Traders choose LimeFx for its reputation built up over 50 years through its FCA-regulated offering. One of LimeFx’s unique value-propositions is its voice-broking execution, through which traders can execute orders with dealers over the phone at no extra cost. Also, the broker finished Best in Class in the Customer Service category in 2020. Like the web-based version of Trader Pro, Trader Pro mobile offers advanced order types and the ability to save chart views ; watch lists also sync between the two platforms. Pros aside, like the web platform, a severe gap in forex news and research features is also present. Boosting research will go a long way toward improving an already impressive app.
They cater for 20 different languages and both of their trading platforms are easy to use and offer plenty of features for all types of experience levels. They have responsive mobile apps and a strong education section. They do fall down somewhat with their research https://limefx.biz/ options, but they make up for it in other ways. Overall, this is a great all-round broker that will be suitable for all types of traders. I didn´t see any promotions or trading competitions during the time that I traded with them, but they have a nice bonus scheme.
There is a very high degree of risk involved in trading securities. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. ForexBrokers.com has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research.
It is the most prominent and well-known regulation in the world. The inactivity fee is not charged on the LimeFx platform on dormant accounts. The charges are done monthly, depending on the type of currency used. Your trading currency fee can be viewed on the LimeFx trading website. There are over 31 currencies on the platform, making it not easy to list them all in this article. For those interested in using e-wallets, there are several options for them, and these include Neteller, GiroPay, Skrill, and Sofort.
So they choose the execution method and venue that minimises your trading cost. The minimum deposit on OvalX is £100 for card payments, while bank transfers have no minimum deposits. 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. The minimum balance required on this account is £100 for card deposits. With OvalX Standard Account, you can trade CFDs or trade spread bets.
Luca Merolla, the CEO of Oval Money and former Guru executive, issued a statement ensuring that “business is as usual” at their well-funded company. Merolla assumed leadership following Philip Adler’s departure. An industry source close to OvalX has disclosed that the FX and CFDs broker may be shutting down its operations.
However, it is unknown when the company will finally shutter its operations, and so far, the OvalX response has been to state ‘business as usual’. The free trading guide provided by OvalX might help you improve your trading abilities and gain more knowledge about the trading industry. TriumphFX has both an offshore branch in Vanuatu and a registered branch in Cyprus but the truth is it is one of the scam brokers. Regrettably, this results in a lot of investors thinking they are dealing with a licensed broker when they actually aren’t.
LimeFx is highly regulated by the FCA in the United Kingdom. This is one of the most famous regulations and licenses in the world. Through this regulation, we can recommend that the broker is safe to limefx official site invest with. To deposit to your OvalX trading account, log in to your dashboard, click on ‘Payments’ on the top menu, then select ‘Add Funds’ and follow the on-screen instructions to complete the deposit.
According to Luca, despite the global economic downturn in 2022 and a noticeable decrease in trading volumes, their commitment to superior customer service remains unwavering. The firm continually explores various methods to stay strategic and competitive. He added that OvalX is still meeting limefx reviews its standard for excellent trading support services and providing customers with the experiences they expect. While bank deposits are manually processed by the accounts division and can take up to five business days to credit your account, card transactions on OvalX are processed instantly.
