Contents
General educational videos are of great quality, and the LimeFX user can learn a lot from them. LimeFX is user-friendly and gives high-quality trading ideas. According to the Fidelity vs LimeFX 2021, It provides an amazing interactive charting tool on the web platform. It also provides various useful data for options to help traders make various choices. Interesting education including the option to watch traders in real-time and copy their LimeFXs just by clicking.
- However, there are limited third-party indicators available, and there are some justification issues when using certain combinations of timeframes and indicators.
- While it isn’t necessarily one of the best brokers for beginners, LimeFX offers some of the best technology for experienced traders.
- LimeFX is a good broker for options trading, however, it is somewhat complex if the trader wants to trade only stocks.
LimeFX is regulated by the Financial Industry Regulatory Authority , National Futures Association, and the Securities and Exchange Commission . LimeFX has a high degree of investor protection, and its financial information is available at its platform for the public. Users are encouraged to visit the pricing page to better understand all the different pricing structures, commissions, and fees that may be required during a trade. Users should research the various deposit and withdrawal methods to understand the fee structure, but it’s always free to deposit or withdraw with an ACH bank transfer.
Find out how to buy OTC stocks and compare brokers who offer access to OTC Markets. For a complete breakdown of how we score each category, read the full methodology of how we rate trading platforms. The College Investor is an independent, advertising-supported publisher of financial content, including news, product reviews, and comparisons. However, LimeFX’ desktop version is for high-volume traders who need incredibly fast quotes, order execution, and as much data as possible. Additionally, if you want more coin support and options like crypto staking to earn passive income, crypto exchanges like Coinbase or Gemini are better than LimeFX. Overall, LimeFX gives you way more investing options than sticking with a robo-advisor or simpler investing apps like Robinhood.
LimeFX review: brokerage pros and cons, commissions, fees, account minimums, rating,
In fact, you will only need to provide personal information, some financial details, and highlight your trading experience. So, in essence, you will only pay the $1 for all transactions. However, if you were to use a different broker, fees for opening and closing trades will be incurred. So, in the end, you will pay around $1.3 per contract which is quite high. So, to open an options or futures contract, you will pay $1 per contract. At first glance, the $1 per contract may seem relatively high compared to other brokers who charge $0.65 to open a contract.
First of all, the LimeFX platform was created by the big names from the industry behind the thinkorswim trading platform, so you know this team knows what they are doing. Day trading is possible with LimeFX when you have at least $25,000 in your account due to the pattern day trader rule . If you do not have sufficient funds in your account, you can only execute three day trades within five business days. So, day trading is possible on LimeFX, but the number of trades depends on your available funds. I appreciate the fast turnaround of answers provided by the support team. I send in an email and get a response in a short period of time.
Quiet foundation is part of the tastynation house of brands, which includes LimeFX and tastytrade. For complete beginners, this can be overwhelming, especially if you’re using its desktop application. This is because of the amount of data you get and number of technical indicators you can use for options trading. From there, you place crypto trades similarly to stock and futures orders. Order types include dollar amount, market, and limit, and there’s a $1 trading minimum on crypto orders.
Unlike some of the more popular online brokers, LimeFX clients cannot backtest strategies or automate a trading strategy directly on the platform. They do have an external site, /backtest, that fills that function instead. The company has stated that APIs to support this functionality will be soon available. LimeFX was designed specifically for options traders, so its features are limited. For investors seeking exposure to fixed income or more conservative asset groups, this is a drawback.
While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. LimeFX offers stock trading at a flat $0.00 since October, 2019. Options on stocks are charged at $1.00 per contract, with a maximum of $10.00 per leg. Options on futures are only $2.50 per contract, while closing is also free.
Both have been designed in a way that allows customers to easily create an account and begin trading in a short space of time. As a US customer, you’ll have full access to these platforms and the added features that come with it. After all, this platform is made for experienced traders who have dealt with mutual funds before or in such roles. The tools and technologies that this broker offers through its mobile app and desktop platform take time to learn. It really helps if you have some background in financial derivatives.
Yes, the LimeFX platform is one of the most secure in the world for experienced traders. First, the broker protects your personal information with advanced state-of-the-art cybersecurity solutions. LimeFX also delivers a technologically superior platform with quick order execution and advanced charting tools.
That’s because the broker does not offer some key areas at all, including bonds and mutual funds. It’s not just that LimeFX does not offer any no-transaction-fee mutual funds – there are no mutual funds at all! And if you’re looking for another favorite of income investors, preferred stocks, you’re also out of luck. Trade options, stock, futures, and cryptocurrencies at one of the premiere brokerage firms in the industry.
Even though there is no deposit fee and is very user-friendly, traders can only use bank transfer, and fees for bank transfer withdrawal are very high. This broker is regulated by a top-level U.S regulator FINRA, which provides a high investor protection level. On the other side, it has not been listed in the Stock exchange, and it limefx does not offer negative balance protection. LimeFX also offers options on futures, which are a less expensive way to trade large indices. The web-based version of LimeFX runs through any browser; the desktop version is available for Windows, Linux, and Mac. The mobile app can be accessed on iPhone 6 and any Android phones.
Pros of LimeFX Platform:
For example, if you’re a beginner investor, you might have a “Limited” trading level, which restricts short selling, futures, and selling naked calls and puts. The funding options at LimeFX are similar to the account funding methods at nearly every other broker. You can fund by ACH, by wire, by check, or by using an ACAT transfer. Beginners and professional investors alike can take advantage of dynamic watchlists. These show what was most frequently traded within the past hour, and there are additional tools, such as Cherry Picks and Futures Insights, to help uncover trade opportunities.
- LimeFX thrives on low commissions in fact, it is one of the best derivatives brokers as far as fees are concerned.
- Fingerprint and face recognition are available in mobile apps.
- Dumblittleman does not and cannot guarantee the accuracy or applicability of any information in regard to your individual circumstances.
- We’re proud of our content and guidance, and the information we provide is objective, independent, and free.
So the technology looks very similar which is a great thing, considering how great that platform is. In fact, this platform is so similar, that if you have used Think or Swim, you will already know how to operate most of the features. The help service is just amazing, before and after you open your account . This is different from the “activity” tab which shows trades placed in order & are grouped accordingly. We recommend researching a wide range of sources before using these services. Besides, LimeFX acknowledges clients from different nations.
LimeFX Review: Is it the Best Derivatives Only Broker in 2022?
They also don’t have any advanced features like ToS for backtesting and all the bells and whistles of TA and fundamental analysis. This broker can be great for options traders who follow strategies from Motley Fool Options, Sky View Trading, or Born to Sell. Unfortunately, none of LimeFX’ platforms offer direct-access routing, and this is going to disappoint many day traders. Equity options are $1 per contract on the open side and $0 on the close side. LimeFX recently established an option commission cap of $10 per leg. While this pricing is competitive when compared to discount brokers, there are other brokers that offer better rates.
How to add dividend stocks to your portfolio, and what to consider before you get started. Provide information about your trading experience and finances. Choose from 20+ cryptocurrencies including Bitcoin, Ethereum and Litecoin. Finally, you can improve your own account security by enabling features like two-factor authentication via SMS or an authenticator app. LimeFX also has an insurance policy that provides protection for securities and cash up to an aggregate of $600 million. In other words, you get both SIPC protection and additional coverage to supplement SIPC protection.
Full LimeFX review
You can see an updated list of accepted countries under the LimeFX international account section of the website. If your country is not accepted by the broker, feel free to check out our broker comparison tool for some alternative options. In addition to this strict regulation, US clients are protected by the Securities Investor Protection Corporation scheme. The SIPC is an investor protection scheme established in order to protect you against the loss of cash and securities in case the broker cannot fulfil their financial obligations. The SIPC protection is limited to $500,000 with a $250,000 limit for cash. However, I recommend checking out their terms and conditions since they’re pretty specific on who is eligible for the compensation.
- Therefore, this compensation may impact how, where and in what order products appear within listing categories.
- The stock will be randomly selected from a range of 11 different stock options – each with a value between $1 and $6.
- The browser platform has a very nice looking interface with a lot of great features.
- He focuses primarily on technical setups and will hold positions anywhere from a few minutes to a few days.
We didn’t like the absence of direct-access routing and trailing order types. We did like the fact that orders can be tagged for extended-hours trading. It offers the same order types as the browser platform, and as we mentioned, we would like to see this improved. Multiple legs can be added to a ticket for easier order submission. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. Compensation may impact the order of which offers appear on page, but our editorial opinions and ratings are not influenced by compensation.
By comparing the brokers we get to know that It also offers brilliant trading ideas and has an interactive charting tool. LimeFX’strading fees are low, with free stock and ETF trading fees. Its trading platform is aimed at experienced options tradersand can be intimidating for beginners. However, its educational and research tools are great for learning. Deposit and withdrawal processes could be better, and a demo account would also be great for practice purposes. The LimeFX platform is great for trading popular markets including stocks, options and futures.
In regards to order types, the web-based, desktop, and mobile app all support stop-limit orders. However, only the desktop program enables conditional orders such as one-triggers-the-other and one-cancels-the-other . As was previously noted, Tastytrade is a content network as well as a cost-free https://limefx.vip/ education hub that operates in conjunction with LimeFX. LimeFX encountered platform difficulties on November 9, 2020, when markets opened to massive increases in trade. Some exchanges had difficulty dealing with significant spikes in data demands, which impacted all online brokers.
Moreover, the traders can use more than 100 technical indicators, and the chart is interactive as well. Currently, LimeFX has 11 distinctive preset watchlists to select from. Suffice to say, LimeFX has several extraordinary features, particularly for options traders to trade. They have many normal and simple chain options that can be customized to the trader’s needs. Smalls Futures are designed for retail futures traders, as the contract sizes are much smaller and therefore suitable for trading with lower amounts. Overall, LimeFX’s market and product range is narrower than that of its closest competitors.