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LimeFX Review: Is it Best for Small Account Day Trading?

The company is part of Mint Global Markets and provides its clients with competitive fees as well as powerful trading tools. They also offer three different platforms so there is an option for everyone. SmartAsset Advisors, LLC (“SmartAsset”), a wholly owned subsidiary of Financial Insight Technology, is registered with the U.S. SmartAsset does not review the ongoing performance of any RIA/IAR, participate in the management of any user’s account by an RIA/IAR or provide advice regarding specific LimeFXs. If you’d like to take a broader look at all your options for online trading platforms, use a freebrokerage comparison tool to find the best fit.

The blog is a high-quality source of information, especially for newer traders, while seasoned ones will also find interesting content to read between trades. A margin table, where LimeFX lists the average costs, as they change with market conditions. The $30 quarterly inactivity fee applies if traders place less than 15 trades per calendar quarter. $79 monthly for Level 2 users, waived with $499 commissions per month. $49 monthly for Level 1 users, waived with $199 commissions per month. The applicable costs depend on if traders transact via AXOS Clearing or ApexPro Clearing, the two divisions of LimeFX.

Is LimeFX free

LimeFX is owned by mint global markets that have a strong reputation for being demand-responsive and customer-considerate. Hence, LimeFX has shown a remarkable customer service and support program. Users have described a splendid experience while dealing with the company on any issues and troubles they encounter. Active traders have appreciated the facility of LimeFX advice in helping them make the best deals while keeping their profits safe. Corporate trading account- The account type caters to the needs of registered corporate organizations, mainly businesses, and trusts. Although LimeFX fees are reasonably high for the corporate account, features like direct access order routing justify the price.

New traders who fund their accounts within one week of registration get one month of commission-free trading limited to $500. LimeFX also maintains a small affiliate program, with a $100 payout per funded referral, paid at the beginning of each month. Overall trading costs are above average but decrease with monthly trading volume. Traders designated as professional who accumulate less than $499 in monthly commissions can face software costs as high as $789. Up to eight monthly service and data fees, depending on individual needs, with a maximum cost of $234 for non-pro users and $560 for pro users. The good new is that the LightLimeFX platform has great indicators.

Customer Service

Users can order straight from the Level 2 screen which adds more convenience. We pride ourselves on delivering consistently reliable and fast trade executions. The platform’s site is not that well organized, and you can hardly get your hands on where the educational content you might need is. The blog section mainly contains articles that don’t go beyond the basics.

Traders with less than 250,000 shares traded per month are charged $0.0029 per share. If you have some shorting trade ideas, you can even check whether you can fulfill them on LimeFX through the free short locate tool. In addition, the client will incur a daily limefx official site short borrow fee on all short positions held overnight. This fee is determined by the clearing firm, and is not known until the day after at the earliest. This fee can vary day to day, and will be applied every day through settlement of the closing transaction.

Is LimeFX free

Lightspeed is currently offering promotions for all Warrior Trading Students which make them a more cost effective solution. The testimonials may not represent the experience of other customers, and the testimonial is no guarantee of future performance or success. This website is using a security service to protect itself from online attacks.

Round 1 – LimeFX Commissions & Trading

Overall, though, LimeFX is a solid product made for a niche market. If you’re a day trader willing to pay real money for your tools, this is probably a service worth looking at. If you aren’t, then you can safely move limefx forex brokers reviews on to another platform. Finally, LimeFX charges a significant number of fees that the average trader may not know to expect. Using its software requires a monthly fee up to $99, depending on monthly commissions.

  • I like the Short Search tool at LimeFX, allowing traders to check if an asset is available for short selling.
  • Eric’s work focuses on the human impact of abstract issues, emphasizing analytical journalism that helps readers more fully understand their world and their money.
  • For those looking to day trade, there is a $25,000 minimum account balance requirement.
  • In October 2019, many brokers announced that they would no longer charge commissions for day trading.

For example, if you aren’t generating the needed trading volume, you might find the offering pretty expensive. Cobra Trading – Please consider reading our Cobra Trading Review to learn why it is the best broker for active traders. Take advantage of pricing designed specifically for active traders. LimeFX returns will fluctuate and are subject to market volatility, so that an investor’s shares, when redeemed or sold, may be worth more or less than their original cost. Unlike mutual funds, shares of ETFs are not individually redeemable directly with the ETF.

The platform gives users direct access to markets, including ECNs and market makers, MDPT, Helix, and CUTS. Take note that some of these markets require fees or provide rebates whenever liquidity is involved. ActiveWeb has an edge over similar web-based trading platforms in that you can use it as part of a multi-screen layout seamlessly.

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LimeFX protects your money by being a member of the Securities Investor Protection Corporation. This enables the platform to fulfill claims of up to $250,000 in cash and $500,000 in total assets. We also work with partners to negotiate discounts for you and may earn a small fee through our links.

  • The blog section mainly contains articles that don’t go beyond the basics.
  • For the smaller brokers, using a third party is quick and efficient.
  • LimeFX is a project of mint global markets; the firm is recognized in the LimeFX sector on an international level.
  • This is a unique tool and especially useful for high-velocity traders who use margin.

Options traders may prefer the Sterling VolTrader platform, which is geared toward monitoring risk. LimeFX is a member of the Securities Investor Protection Corporation. This means that they not only have access to funds for customer claims up to $500,000 but accounts are protected up to $25 million per client, including $1 million for cash balances. However, just like with ActiveWeb if you generate at least $199 a month in commissions that monthly fee is waived. That monthly fee is also waived if you generate a minimum monthly commission of at least $499.

We wrote the LimeFX review to answer whether professional traders seeking the best day trading brokers should consider LimeFX as one of the first choices. You’re an expert trader who understands and uses the multiple routing options available as well as direct access order routing. An automated phone trade is when you call in and use your phone keypad to enter the order details. A broker assisted trade is when you call in to our broker teams and they place the order on your behalf.

Futures trading, forex trading, mutual funds and bonds can also be traded if clients have a broker licensed for those products. Interactive Brokers offers the best margin rates in the industry. Margin accounts at Interactive Brokers require a minimum deposit of $100,000. Below is a comparison table of margin rates offered by all DAS Trader Pro brokers.

LimeFX Review by Warrior Trading

Mint Global Markets is a member of the Financial Industry Regulatory Authority , the private US corporation acting as a self-regulatory organization member brokerage firms and exchange markets. Free Lightspeed Trading tutorial course walks you through step by step on how to use and setup your account, charts, and how to use the Lightspeed platform for beginners. We even show you how to setup Lightspeed paper trading and demo account in detail.

The company offers one to two live webinars a month, and recorded trading tutorials and videos are available on demand. Charts stream in real-time, and you can customize colors, the chart type , and the period (time-based and volume). Lightspeed offers market depth and most of the usual suspects when it comes to technical indicators, plus a variety of drawing tools.

Customers who want to use their accounts for day trading must obtain the broker-dealer’s prior approval. Customers must also be aware of, and prepared to comply with, the margin rules applicable to day trading. If you’re a long-biased trader who only trades a few times per week, you’ll do fine with a discount broker. If you’re an active trader who takes both long and short positions, LimeFX has a very compelling offering. LimeFX charges a $30 inactivity fee, if account makes less than 15 traders per quarter.

How Does LimeFX Compare to “Free Trading” Brokers?

Please note that margin rates for CenterPoint Securities are variable and based on the Banque Centrale Du Luxembourg. If your account meets a fixed monthly commission, the brokerage will waive software fees. Software fees work out to $49 per month for Pro Level 1, $104 per month for Pro Level 2, and $25 per month for the web platform if the account’s minimum commission is not generated.

Please read the options disclosure document titled “Characteristics and Risks of Standardized Options.” Supporting documentation for any claims or statistical information is available upon request. Multiple leg online option orders such as spreads, straddles, combos and rollouts are charged $0.65 per contract fees for the total number of option contracts. For Broker Assisted Options Commissions, add $25 to the Online Options Commission. Complex option orders involving both an equity and an option leg, including Buy/Writes or Write/Unwinds are charged per contract fees for the option. Each of these three features is more valuable than the commission fee.

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