Best Forex Broker Broker Review

With so many different forex brokers to choose from, it is important to carry out the necessary research to find a reliable one. The trading platforms offered by a forex or CFD broker are extremely important, since it’s through limefx scam them that you’ll conduct all trading activity. The spread is the difference between the buy and sell price on a currency pair and, depending on the type of trader you are, can have a significant impact on your profit margin.

• The platform comes with 27 built-in indicators – relative strength index , Heikin-Ashi bar, candlesticks, Stochastic oscillator, and moving average convergence divergence .
• The program provides a fast scaling plan, where we double the capital every time the trader hits the 10% target.
• Most ECN brokers should have at least 200ms execution time.

Over this time, he has developed an almost scientific approach to the analysis of brokers, their services, and offerings. In addition, he is an expert in Compliance and Security Policies https://limefx.name/ for consumers protection in this sector. limefx offers the cTrader platform, but only for clients operating outside the European Union under the FSC branch of the broker.

cTrader and Market Depth

Rob’s approaches are realistic and easy to understand.He tells you what works and what does not, he’s unbiased which is anyone should look for in a mentor. They all offer training, strategies, analysis, signals, mentoring and you lose. The global view is also amazing, really brings an extra dimension to the Lazy Trader, it is very educational, and again very simple to understand.

All of the above firms are regulated by the FCA which, as mentioned, is a primary consideration when choosing a forex or CFD broker. Always check whether your preferred broker is regulated by the appropriate body for your country – in the UK, this is the Financial Conduct Authority . The next thing to consider when choosing a forex or CFD broker is cost.

Can you trade Bitcoin at Mega Trader FX?

Negatives include negative balance protection not being mandatory, also this location may also attract scam artists. Unfortunately, work-life balance may be an issue here with relatively few tourist and leisure attractions, putting the BVIs in the fourteenth position of these featured countries. Broadband speed is also further down the list, with the average speed being just 24.9Mbps.

Currencies are always traded in pairs, for example the US$ with the UK£ or the US$ with the EURO. With constant price fluctuations this tumultuous market can make Institutions, companies and some individuals a great deal of money. Forex trading is completely legal – most brokers will typically register in Dubai as it’s a special economic area within UAE and home to the DFSA – one of the most respected regulators. Outside of Dubai, traders should look for brokers regulated by the UAEs federal securities commission authority, or the central bank of Dubai.

Demo Account

Depending on the Account type the variable spreads are scaled to the deposit levels. Silver Account has 2.2 pips for the EUR/USD, Gold 1.3 pips and the final Platinum Account has 0.7 pips spread. The information for the XAU/USD states it is 0.59, 0.48 and 0.37 pips which are incorrect. It can only be 59, 48, 37 pips, but we are unsure if this is just a mistake or in purpose for marketing. For BTC/USD the starting spread is 50 pips which is larger than average. Generally speaking, limefx does not shine in the spreads category but not bad either.

My $324 limefx got close to being wiped clean so I had to invest another $324. Within 5 minutes of depositing the second limefx a linked brokerage manager called to say he never used robots and that I should invest £2000. Every Trader that gets approved for the program starts with an initial capital of $15,000. At this stage, you can use a maximum lot size of 0.5 all cumulative. You must reach the 10% profit target, bringing your account to $16,500, to get your account doubled to $30,000. The drawdown is 10% so the maximum you can lose is $1,500 from the starting balance, meaning your equity cannot fall below $13,500.

Educational Tools

Established in 1989, CMC Markets was one of the first UK brokers to provide online forex trading. For traders looking to deal exclusively in forex, the Vantage Markets offering is limited but well-crafted. There is no proprietary platform, but users can trade on MetaTrader 4 and 5. Vantage Markets offers access to the markets through the popular MT4 and MT5 platforms, and a feature-stuffed mobile app. Another user-friendly entry on our list of the best forex and CFD brokers in the UK is Plus500, providing an easy-to-use and accessible service.

• Excellent trading system, superior customer service and a great and honest mentor.
• limefx offers three account types, but only one supports cTrader.
• You’ll need to deposit a minimum of $200 for Copy Trading, limefx’s standout feature which allows you to follow other traders and copy their trades.
• There are numerous brokers available and we would always recommend that you conduct your own thorough research and due diligence before making your own personal choice.