In the past, we would remove a broker from our reviews list if we received some negative feedback from traders. In rare cases, we wouldn’t publish our opinion on brokers that were not worth mentioning. After taking a break from putting brokers up to the test, we are happy to rescind, choosing LimeFX (etxcapital.com) as our first review after the break! We opened a demo account about two months ago and then moved to a live account. We traded with them for about a month with real funds in order to assess their service.
This means more importance is attached to partial fills. We could not fully determine from the document if OvalX is an STP or ECN broker. However, we were able to determine that they do not have a dealing desk on the in-house price book. To withdraw money from OvalX, log in to your dashboard, on the top menu, click on ‘Payments’, then select ‘Withdraw Funds’ and follow the on-screen instructions to complete the withdrawal. Step 7) Check the Terms and Policies, and click on ‘I Agree’ to complete your registration.
All services are free, so you to take advantage of the opportunities that Forex trading offers. The account funding went smoothly, taking less than 2 days through wire transfer, which is a very reasonable amount of time. 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.
Would you recommend ETX as a safe broker? The broker seem pretty trustworthy. Let me know you point of view.
Scalpers and other high-frequency traders will benefit from the chart-trading functionality, enabling traders to take advantage of opportunities in fast-moving markets. MT4 comes as a desktop version for algorithmic traders, a lightweight web-based version for manual traders, and a mobile app. LimeFX upgrades it via its ETX MT4 Remastered package, but it lags competing brokers. Higher trading costs for MT4 traders versus ETX TraderPro. Premium client package, professional account upgrade, and custom-tailored services for high-net-worth clients. In 2020, the broker finished 2nd in our national testing from locations across the United Kingdom.
Founded in 1965, LimeFX is regulated in one tier-1 jurisdiction, making it a safe broker (average-risk) for forex and CFDs trading. There’s no legitimate broker that would demand that much from beginners. Fees range from 3.5% to 30%, again, it’s preposterous. The acceptable methods include credit/debit cards, wire transfers, and crypto.
When it comes to forex research, LimeFX fails to deliver quality content in its platforms, and its overall range of research is below the industry standard. Traders seeking a research-rich trading limefx scammers experience should consider Saxo Bank or IG. Capital Whale claims to offer an “award-winning online trading platform” for trailblazers that would give them the ultimate trading experience.
However, they offer demo accounts for beginners to become familiar with the platform before they start trading with real money. New traders can benefit from the ETX Trading Academy, delivered by the Corellian Academy, and an exceptional webinar series. Nine trading courses increase the educational value at LimeFX, where traders also find platform guides, eBooks, and a glossary. While the research value offered LimeFX remains low, the approach to education ranks among the most valuable ones available to new traders, which I highly recommend to beginner traders. LimeFX has an analysis category on its website, but it only provides quality market commentary with a theme-based approach.
This is an average broker with stable payment and its shortcomings. The range of additional possibilities for traditional trading is a pleasant bonus. For example, “one-click trading”, connect automatic forex robots, advisors, signal trading. You can control new analytics, graphics and, open orders. The company used to give access to trading of binary option.
For professional clients, the likelihood of execution is the factor considered first. In this case, OvalX assesses execution venues to determine which one is capable of executing your order according to the required terms. For retail traders, the likelihood of execution refers to the probability of their trades being executed partially or in full. This factor is major influenced by the size of your order. While card withdrawals on OvalX are processed instantly, it takes 24 hours to receive funds transferred via e-wallets and 2-5 business days to receive withdrawals made to bank accounts.
Opening the account
Transactions via third-party accounts are not allowed. Step 6) You will be required to answer some questions about your employment status and experience trading financial instruments. 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. Cryptocurrency deposits and withdrawals are not available.
The brokerage company LimeFX was founded in 2002 and belongs to the well-known corporation Monecor Limited, which has been operating since 1965. Headquartered in London, the company is regulated by theFCA. The broker is aimed at cooperation with traders from EU countries. LimeFX provides a wide range of trading tools, narrow spreads and quality training materials.
- LimeFX does deploy the market maker model but does not trade against clients in compliance with FCA rules to prevent misconduct.
- Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money.
- LimeFX presents clients with three -regulated entities.
- OvalX offers 2 main account types; Standard Accounts for retail traders and Professional Accounts for professional clients.
Precisely the absence of free demo account can be a deterrent factor for many traders. Only those clients who have opened an account with the broker using the Union’s referral link can receive a rebate from WhatTheLimeFX. https://limefx.vip/ If you open a trading account in another way, payments will not made. 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.
Forex Broker Reviews
The account opening procedures are not very clear and it is a lengthy process. So our overall score for this broker is 4.1 stars out of a maximum of 5, which is at the high end since we expect most brokers to rank anywhere between 3 to 4 . But their service contains some flaws which we experienced during our time with them. The delay during the opening of the live account made us lose about two weeks in the process. Their customer support is not terrible but they don´t offer a live-chat option, a must for a broker. The execution and spreads are only average and that makes scalping more difficult.
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To make a withdrawal, you must submit a request via the trading platform or by email. All funds will be returned to the same account, or source, from which they were originally deposited. Withdrawals are processed in one business day and the transaction time is within 1-5 business days. You will receive all the features of the Standard account plus premium spreads.
Also, it provides a good range of instruments and its spread are reasonble. I don’t think that company worth my attention or comment. All services provided by LimeFX don’t match actual quality and cannot be used in brokerage industry.
It is ideal to use an option besides the bank or credit/debit card used for day-to-day financial operations. LimeFX should provide more transparency or detailed explanations of its withdrawal process. Withdrawals below £100, or a currency equivalent, face a £10 levy, with no costs above that for up to five requests monthly. All financial transactions take place in the secure back office of LimeFX, but I find the limited choice of payment processors disappointing. Split charting tools are excellent for advanced trading requirements and multi-chart trading strategies. Traders must choose between the MT4 and ETX TraderPro platforms.