Forex Account Types: Which One Should You Choose?

Although demo accounts are great for familiarising yourself with trading platforms and tools, they don’t fully replicate the emotional experience of trading with real money. Nevertheless, they are an essential tool for practice and strategy development. I strongly disagree with credit/debit cards as a payment option. If you read carefully, the fees that LimeFX charges are transaction fees.

We verify some of our data for quality control but there are slight variations occasionally. We are not liable for losses that resulting from the information provided on our site. As we always say, make sure that you are very well prepared for the market. limefx forex brokers reviews LimeFX is the best forex broker one of the rightest places for beginners for beginners, mid-level, and professional traders. If you like to do high-volume trading, they may not be the best choice for you.

Deposit Fees and Options

1. However, keep in mind that while a demo account can be a great choice for beginner traders, there still are some drawbacks to using this account.
2. Although it cannot be withdrawn, this bonus allows you to explore LimeFX’s wide variety of trading instruments, including forex, CFDs, and precious metals.
3. Because if you withdraw a very large amount, the broker will transfer it to your bank account.
4. Depending on the method you choose, the money will show up in a few minutes to a few business days.

LimeFX MT4 is the most widely used, given that it is the platform with the highest number of users in the world. If you want to have a fresh start, you can open a new account with another email address, using the same credentials for identity and address. Using the same email address for all your additional accounts is always essential. This is so you can manage all the accounts from the same area in the client portal/Members Area.

How many account types are there?

Experienced traders might opt for standard accounts for higher trading potential. Consider your trading goals and risk tolerance to determine the best account type for you. They let you trade with standard lots, where 1 standard lot equals 100,000 units of the base currency. These accounts are perfect for intermediate to experienced traders who have sufficient capital and are aiming for significant potential profits.

It also provides an opportunity to test trading platforms and strategies in a cost-effective scammed by limefx way. Keep in mind that the LimeFX minimum deposit is the same for every account – $5. Thus, you can create any of the trading platforms that sound attractive to you.

All of these regulatory agencies are from first-world countries with strong law enforcement measures in place. When trading with this broker, you will not have to worry about safety. We also found out during this LimeFX review research, that the broker is more widely regulated. I just can’t afford the swaps to eat up my profits if a trade is going good, I am a swing trader so I go for no swaps.

Reviewing LimeFX – Which LimeFX Account Type Should You Use?

We have to mention that any withdrawals will decrease the bonus amount accordingly, so it is crucial to incorporate this into your overall strategy. One important lesson we’ve discovered is that although the bonus cannot be withdrawn, any profits generated from it can be, presenting a genuine chance to enhance your trading capabilities. However, you can keep all the profits once you have fulfilled the trading volume requirements. Please note that multi-asset trading is available only on MT5 accounts, which also allows you access to the LimeFX WebTrader. The list may vary depending on the account type and the LimeFX entity you are trading with.

We pick brokers that are comparable in both scale and features to LimeFX and use them as benchmarks. That way, we know how high or low the fees on any broker can get. At the time of writing this LimeFX review, there are promotions where clients get a deposit bonus of up to $500 and up to $10,500. The LimeFX review also shows that they provide additional features like six calculators from the all-in-one calculator and the pip cost calculator. This can be helpful when traders are strategizing or researching economic ideas. One of their bonuses is a free VPS service, which traders can use to connect to the market faster with low latency.