Multiple factors, including significant economic and geopolitical events and financial indicators, influence price movements in foreign exchange. Investors are tasked with carefully evaluating these factors using fundamental and technical analyses to make thoughtful financial decisions. Some scholars argue that Forex https://limefx.club/ spot trading, involving real-time currency exchange, is allowed under Islamic law. Here, the currency exchange is considered equal, and no interest is involved. Forex trading also serves a valid economic purpose, enabling individuals and businesses to protect against currency risks and engage in global trade.
How fast is LimeFxFX withdrawal?
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. Although LimeFx 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. Yes, LimeFxFX facilitates efficient withdrawals in Malaysia through a diverse array of options, which include local banks, Mastercard, Visa, Skrill, Neteller, and various payment processors. Additionally, the broker supports a wide range of cryptocurrency methods to cater to different client preferences and needs.
You have no real account to deposit
The LimeFxFX 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. LimeFxFX 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 LimeFxFX useful.
Is LimeFxFX a genuine broker or not?
It has earned accolades such as the ‘Best Forex Broker Malaysia 2022’ and the ‘Best Global Broker Asia 2022’ awards. We like the fact that they have operators offering support in the local language too. But to withdraw the bonus funds, you limefx forex brokers reviews need to trade half the number of standard lots equal to the bonus that you receive. LimeFx is less well-regulated than other comparable brokers, however, they have been in operation since 2011 and are trusted by thousands of users worldwide.
Best Mobile Trading Platform 2023
Step 1) To open a trading account on LimeFx in Malaysia, go to their website homepage at and click on the ‘Open Account’ button, highlighted in blue colour, at the top right side of the home page. The absence of online brokers authorised to deal in derivatives suggests a complex and rigorous licensing process, potentially discouraging brokers from pursuing it. The competition with globally established brokers offering more attractive conditions might further dissuade local licensing.
Round 21 of LimeFxFX Champion Demo contest proved that determined traders always reach success!
Stay in touch with our Forex trading community in Malaysia and gain free knowledge for more profitable trading. However, LimeFx has a good track record and is used by users across many countries. They also have separation of funds and anti-money laundering policies in place. There are both pros and cons to trading through LimeFx, but you must make your own decision given then risks.
They offer forex trading and CFDs on indices, cryptos, metals, and energies through MT4 and MT5 platforms. Although from our LimeFx review LimeFx offers 3 account types, the LimeFxTrader Accounts, MT5 Accounts and MT4 Accounts, they all have same minimum deposit requirement. However, they recommends a minimum deposit amount of US$100 to enable you place sizable trades.
Keep in mind that different Master Traders have different settings so you might have to adjust your balance accordingly. Step 6) You will be taken to a page to select a payment method to make a deposit. If you click on SKIP, you will be taken to your LimeFx dashboard which shows your account balance and other information. Spreads on this account start from 0.6 pips, you do not pay any commissions on trades, and no swap fees are charged for keeping an open position overnight. Why do prominent international brokers, including LimeFxFX in Malaysia, avoid obtaining licenses from BNM or the SC?
The amount of information on the topic can feel overwhelming, especially for beginners. The Financial Consumer Alert list includes LimeFxFX’s website, as well as its official accounts on social media platforms such as YouTube, Twitter, Facebook, LinkedIn, Instagram and Telegram. The Forex market is a universal financial marketplace for exchanging foreign currencies.
Step 3) Enter the amount you want to deposit and provide the necessary details required. Step 1) Sign in to your LimeFx dashboard through my.LimeFxfx.com/login. We announce our offline workshops and seminars via email and in-app communications. To get an invitation to the upcoming events, make sure to sign up with LimeFx.
- Spreads on this account start from 0.6 pips, you do not pay any commissions on trades, and no swap fees are charged for keeping an open position overnight.
- This means your orders are transferred to interbank liquidity providers.
- LimeFx is relatively less regulated than other comparable brokers and holds licenses from Tier-2 CySEC and Offshore regulator Mwali International Services Authority.
- The official website and application of LimeFxFX are also available in Malay language.
We recommend you can try the broker after researching their site and chatting to with support to answer any questions you may have. The number of tradable instruments on LimeFx is few, which means they may not have some instruments that you want to trade. The calculation is based on the maximum margin used by the Master as well as the orders’ lot sizes that the Master places within the last 7 active days.
