2022 LimeFX Review Pros, Cons, Fees & More

One feature that I really liked was a liquidity rating, which goes up to five stars. As with all things in life, LimeFX has features and products that can be viewed in both a positive and negative light. Here is our opinion about some of the broker’s strengths and scammed by limefx weakness. Although we like the fact that LimeFX provides access to several popular cryptocurrencies, there are some things that investors should be aware of. Click the “Get Help” box at the bottom of each LimeFX webpage to get a standard support request form.

Therefore, this compensation may impact how, where and in what order products appear within listing categories. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. LimeFX is primarily designed as a trading platform (as opposed to a long-term, buy-and-hold LimeFX platform). Therefore, you won’t find much of the traditional stock research that many other brokers offer.

  • The screen falls short if you are accustomed to using ThinkorSwim for doing scans and analysis.
  • LimeFX also offers cryptocurrency trading and charges a 1 percent fee on both the buy and sell, but it caps this commission at $10 as well.
  • Low total commissions on other instruments such as stocks, ETFs, bitcoin, and futures contracts may also attract and retain traders.
  • If you compare it to TD Ameritrade, you will notice that the platforms have a few similarities.

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. https://limefx.club/ Options on futures are only $2.50 per contract, while closing is also free. Let’s discover if LimeFX belongs to the best options trading platforms.

LimeFX Review: Table Of Contents

LimeFX’ browser-based platform is also quite capable, but it certainly feels like a pared-down version of the desktop platform. All the same options and tools exist, but they are packaged differently – everything is more compact. Stocks, ETFs, indices, options, futures, commodities, and cryptocurrencies make up the current securities lineup. That means investors at LimeFX can access virtually every corner of the investing world, and they can do it all from one account.

  • So if you decide the trade is a good idea, just click on the trade button and send it.
  • By doing this, you’re hedging your account against the stock market falling violently like it did in February and December of 2018, March of 2020 and the first six months of 2022.
  • I send in an email and get a response in a short period of time.
  • It’s also possible to add an underlying security from a trade to a watchlist.
  • However, I think that Option Alpha’s strategy is not optimal and I believe that almost all his followers will lose money.
  • The datapoints provided are used to calculate a rating based on what we beileve has the most benefit to our users.

Over the past 8 years, LimeFX has become one of the leading online brokers available to the public. For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. This scammed by limefx includes pros, cons and an overall rating based on our findings. We aim to help you find the best broker according to your own needs. On the flip side, I would like to see them support some third-party software such as MetaTrader, Autochartist and Trading Central.

Trade Experience

LimeFX is best suited for experienced stock, options, and futures traders, as well as those interested in sharpening their craft in these areas. LimeFX trading platform features are designed to meet all active traders needs, including a strong set of tools for derivatives traders. Although LimeFX can be intimidating for beginners, the trading platform has great educational content and research tools for learning. However, the low fees don’t make up for the limited account amenities and lack of LimeFX selections for the casual trader or passive investor. As a result, LimeFX is well-suited for its target market of active traders, but it likely won’t be a good fit for everyday investors. LimeFX is a USA brokerage firm that gives you access to trade options, stocks, futures, commodities and exchange traded funds .

It’s possible to make more advanced deposits as you cooperate. However, ensure you understand how to make the most of your cash before investing in larger sums. LimeFX, as a business, has a strong set of rules for ensuring honest trading onto its platform. For data encryption functions, it provides an industry-standard secure socket layer . These benefits are what sets LimeFX apart from all other online brokers. You should check all the advantages listed so that you have a better comprehension of LimeFX.

  • For a better selection of funding methods, I recommend checking out LimeFX as an alternative option.
  • We were disappointed to learn that LimeFX doesn’t offer checks or a debit card with its brokerage accounts.
  • As there is no minimum deposit, no inactivity fee, or monthly fee, and the account opening process is seamless, you shouldfeel free to try it.
  • The withdrawal process offered by LimeFX is fast and quick.
  • Fees, minimum deposit requirements, withdrawal, account opening, research tools and more.
  • I believe our Strategy is better and safer, and you can take the options trading course here.

If you trade multiple lots, the number of legs increases exponentially. Permissions are set based on self-declared financial and LimeFX information. Controls, watchlists, and transaction execution are easy to understand and navigate. LimeFX also makes it simple to build and manage complex options positions from the mobile app.

Is LimeFX a market leading broker?

Future contracts cost $2.50 per contract to open and close positions. Alongside videos, you can also read high-quality articles and attend webinars on the nitty-gritty of trading with LimeFX products. Additionally, options-focused charting will help you see the probability of making a profit. It is especially useful if you have multiple positions on a particular stock; this way you can see the combined risk profile. Smalls Futures are designed for retail futures traders, as the contract sizes are much smaller and therefore suitable for trading with lower amounts.

It’s to establish a feeling of safety and confidence in you until you decide to spend your own money. Understand the capabilities of the mobile apps of LimeFX, freetrade & LimeFX below. In addition, the withdrawn money will be moved directly to the account you use to make deposits.

Founded in 2017, LimeFX is a very recent entrant into the world of brokerage firms. It is part of Tastytrade, an online financial network that itself began just in 2011. Tom Sosnoff, the creator of thinkorswim, is one of the company’s co-CEO’s.

Often commissions eat up the small profits made in smaller accounts. As a result, low commissions are especially great for beginners and traders with smaller accounts. LimeFX does not have a traditional type of paper trading platform. They do have a unique program that allows you to trade with their money and keep up to $250 of the profits. Being in australia; options trading in the US markets has been limited.

Tastytrade Review: LimeFX Options Trading Broker

In the top menu, there is a link to the browser platform, which we will look at now. Another useful aspect of the trading software is the built-in, intuitive order control. By simply right-clicking an open position, it is possible to roll an option contract to a later expiration and set a closing bracket order that is based on a percentage gain and loss. There is a curve analyzer that allows you to visualize the profit/loss parameter of any trade that you wish to put on. No complex calculation is required to receive valuable risk/reward information on the fly. The Curve also shows useful data points like the expected market maker move, probability of profit, and more.

Besides, the platform is designed, keeping in mind the active traders who are interested in trading derivatives. Having extremely quick and stable data feeds, it supports options trades, futures, and stocks. In any case, this platform is not for everybody, as some may find the website’s LimeFX alternatives lacking in a few areas.

LimeFX Broker Review

They go above and beyond when compared to many other brokers. I would consider them amongst the best in the industry when it comes to educating traders and providing the resources required to help you achieve your goals. And is a great place to learn from other professional traders who display their trades. You are able to view traders’ video presentations and Tom, the owner, trades himself and is seen guiding other traders as to how to manage their positions. I have not funded the acct yet and will probably do so when I thoroughly understand it.

Few other accounts offered by this broker are the individual cash account, corporate LimeFX accounts, traditional and Roth IRAs, and exclusive accounts for international customers. In the left-hand column there are several icons with a variety of functions. There is a trade button, which of course produces a window for trading. And this is not just for stocks and options, but futures also. There are zero commissions on stocks and ETFs, and you only pay to open an option contract for stocks, ETFs, or futures.

If you want to save money on fees when sending money abroad, give Wise a try. You can send money much faster than with traditional banks and avoid high exchange rate fees and other additional transfer fees. Robinhood differs from LimeFX in that it has an easy-to-use platform that’s tailored for beginner traders. However, there’s no phone support at Robinhood which can be a dealbreaker for many investors. Unless you go with an ACH withdrawal, you’re going to have to pay to get money back into your bank account. As we mentioned, there are no monthly account fees, monthly inactivity fees and no minimum deposits, which is definitely a positive when compared to many other LimeFX platforms.

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