Trade Forex in the Best Global Broker

Lime FxFX is an online Forex broker that has been providing access to financial markets worldwide since 2011. The broker also publishes free educational and analytical content, ranging from entry-level articles on trading to in-depth research and analysis of popular financial instruments and markets. MT4 and MT5 mobile trading platforms can be downloaded on mobile and tablets of Android and iOS operating systems. Apart from MT4 and MT5, no other trading application is supported at Lime FxFX. Traders need to separately download the MT4 or MT5 trading application from the play store or app store and link it with the live trading account at Lime FxFX.

But more importantly, CySEC-licensed brokers are required by law to keep all clients’ funds in segregated accounts and to participate in a compensation fund of last resort. The customer support service plays an important role whenever clients face queries while trading. The quality and diligence of support services must be checked before opening the account. MT4 is the most widely used desktop trading platform with a very basic interface that looks similar to Windows 98.

1. Usually it takes within 1-3 hours to process the withdrawal (during business days) and another 1 hour to transfer funds.
2. Both these platforms are developed by MetaQuotes Software for online trading.
3. Clients who wish to deposit and withdraw through cryptocurrency and local bank transfer will also find Lime FxFX very useful.
4. Three account types cater to traders with different levels of experience.Spreads are competitive, especially in forex and shares.

The Securities Commission is the sole licensing authority for entities wishing to deal in securities and derivatives in Malaysia. Other online brokers, as well as other investment options—such as derivative CFD and Forex trading—remain unacknowledged by the Securities Commission. Although Lime Fx does not offer MYR account currency you can deposit Malaysian Ringgit via local banks and it will be converted into your chosen account currency. All trading, fees, deposits/withdrawals, and profits/losses will be shown in your chosen currency.

Lime FxFX Malaysia Review 2024

The support services are good through live chat but local phone support is not available in Malaysia. The Lime FxFX demo trading account is useful for beginners to gain experience of trading forex and CFDs. Beginners in forex trading must use the demo account for a few weeks to learn the terminologies and strategies of trading.

Lime FxFX does not offer zero spread and commission-based trading accounts. Scalpers and high-volume traders who seek to trade CFDs with little or no spread won’t find Lime FxFX useful. The features, services, and trading conditions are nearly similar for both account types.

In spite of this, many traders still prefer the tried-and-tested MT4. The third party risk of choosing Lime FxFX is high in Malaysia but it can be used to trade CFDs. Live chat support is a resourceful method to connect with executives and resolve queries. The 24/7 availability of a live chat window is limefx reviews a major advantage but the absence of local phone support is a limitation of choosing Lime FxFX in Malaysia.

This extremely low number suggests Malaysian investors simply lack opportunities and options for investing in the international financial markets. Nevertheless, The Securities Commission and Bank Negara are quick to add international brokers to their alert lists. The absence of a licence, however, only affects certain advertising aspects of the brokers’ work, as they can still legally accept clients from Malaysia. Lime FxFX offers 3 options for trading platforms in the demo account. The MT5 account allows virtual trading on 230 instruments while the MT4 trading platform allows trading on 74 instruments. The Lime FxTrader is a proprietary trading platform of Lime FxFX exclusively available for demo accounts.

Glossary for traders

Step 5) Select the account type you want to open (MT 4 or MT 5), select Live Account, choose your preferred account currency, set a leverage limit and click ‘Make a deposit into account’. Both authorities (BNM and SC) indicate that inclusion in the alert lists is only meant to increase awareness of entities not licenced or regulated by them. This, however, doesn’t mean that all the companies on the lists are frauds or scams. Moreover, many of them—like Lime FxFX—have multiple international licences and incorporation documents that allow them to accept clients from all over the world. The lists simply state that those entities are not licenced in Malaysia.

Customer Support

Here is a comparison of Lime Fx minimum deposit with that of their competitors. As an international broker, it can accept clients from most jurisdictions worldwide, which is proved by the fact that Lime FxFX has clients in more than 180 countries. Traders can withdraw the Lime Fx bonus after they meet a trade volume requirement of half the bonus amount in lots. Some representatives could not answer some questions and referred us to send an email enquiry instead. Some chat agents declined to answer some questions, claiming they could only give such information to registered Lime Fx traders. On Lime Fx’s website, you can find their execution policy under their ‘customer agreement’ section.

FPX e-wallets also requires RM100, while Visa cards have a minimum deposit amount of $25 and Mastercards is €50. Evidently, Lime FxFX has stopped working with all of those celebrities, as there haven’t been any new promotional activities with them for quite a long time now. As for now, no new Malaysian influencers are working with the broker. It is unclear if it’s illegal for Lime FxFX to work with them only because it is included in the alert lists. Because Lime Fx provides market execution, there is a high likelihood that your orders might be opened or closed at a price different from your requested price.

Lime Fx is a good broker for Malaysian traders since it offers its services in Melayu and also offers Islamic accounts. Even though the broker is not regulated by any top-tier financial regulators, it has a strong reputation and long track record. The minimum withdrawal amount on Lime Fx is MYR 20 for local bank accounts, $5 for withdrawals to e-wallets, and $20 for cards (Visa).

Here is a summary of how the forex broker handles your orders. After choosing a Master Trader, the Copiers are all set to copy their trades and benefit from the expertise of professional traders. The copier does not need to copy the trades manually, it happens automatically. The Copier can choose to copy the Master Traders trade in equal volume or 2 times the volume of the trade or even three times. The company sponsors charitable limefx and humanitarian initiatives that aim to improve educational infrastructure and support local communities in Malaysia and worldwide. Not long ago, Lime FxFX partnered with Malaysian educational organisation Ideas Academy to digitalise multiple learning centres for refugees and underprivileged students.

Otherwise, the recommended minimum deposit for both accounts is $100, but clients can deposit just $25 if they like. Lime Fx (previously Lime FxFX) is one of the established names in the forex industry, with over 10 years of experience. It is important to check the regulations and protection while trading online. The safety of your deposited funds largely depends on the regulatory compliance of the broker. Lime FxFX is an offshore regulated CFD broker that allows low-cost trading across various financial instruments.

No commission is charged for any of the methods chosen for deposits and withdrawal. However, a fee for the deposit or withdrawal may be charged by the financial service provider which is executing the transaction such as your bank or a payment service. Lime Fx Minimum deposit for Malaysian-based traders is RM 100, which is applicable for local bank transfer deposit method and as well as FPX e-wallet. Visa cards require a minimum deposit of US$25 while Mastercards require a minimum deposit of €50. Because that way, they believe they can provide better trading conditions and stay on top of the competition. This often results in clients turning to brokers with a more diverse range of instruments, better conditions, a copy trading service and appealing promotional offers.