LimeFX Broker Review 2021

The first thing that you will likely notice is the in-depth FAQ and help sections. There are articles and descriptions on virtually every aspect of the platform and brokerage, and all the information can be located quickly using the built in search functionality. Custodial Accounts – LimeFX is in the process of adding custodial accounts to their account lineup.

Is LimeFX any good

You cannot perform live algorithmic trading on LimeFX, other than automated executions such as basic order inputs. LimeFX doesn’t perform too great when it comes to scanners and watch lists. There’s no backtesting capability for example, though the watchlist that does exist has intuitive filters and is easy to view . No information provided on should be considered a recommendation or solicitation to invest in any security. If for some reason you cannot find what you are looking for in the help center, you can also access live help through the chat and AI assistant tool.

Our best alternatives to LimeFX are:

Click the “Get Help” box at the bottom of each LimeFX webpage to get a standard support request form. You’ll get a canned answer from a chatbot that usually directs you to a help article. If you want a deeper understanding of this strategy, the TastyTrade YouTube channel has a video series called the “Trading Pillars,” where Tom Sosnoff explains his ten pillars of trading options. LimeFX charges $1.00 per contract to open, and $0.00 per contract to close trades.

  • They have many normal and simple chain options that can be customized to the trader’s needs.
  • The case is similar for short timeframe futures traders who need to pay close attention to price action by the tick.
  • The user interface for wire transfer withdrawal is customer-friendly and easy to use.
  • The pricing system is very good as it allows traders to intuitively make low-cost trades.
  • Note that the content on this site should not be considered LimeFX advice. strives to keep its information accurate and up to date. The information in our reviews could be different from what you find when visiting a financial institution, service provider or a specific product’s website. To be fair, long-term, buy-and-hold investors aren’t the customers LimeFX is targeting.

LimeFX Fees & Commissions

Because our content is not financial advice, we suggest talking with a professional before you make any decision. SoFi is a commission-free platform with both active and automated LimeFX accounts. Once your application is approved, fund your account with an ACH transfer, wire transfer, check or funds transfer from another brokerage account. I sent an email to the LimeFX support team regarding a trading platform question about how they calculated an indicator value.

U.S citizens tend to consider TD-Ameritrade for stocks and options trading. The web-based version is slightly toned-down, but you still get most of the charting and visualization tools you get with the desktop app. And if you prefer trading on the go or want to watch your options and futures trade while away from your computer, the mobile app has you covered. 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. So once your trade value surpasses $1,000, you’re not paying any extra commission on that specific transaction.

There are zero commissions on stocks and ETFs, and you only pay to open an option contract for stocks, ETFs, or futures. First, there is no ‘wallet’ function to crypto accounts at LimeFX. When given permission to trade crypto at LimeFX, an account is created at Zero Hash LLC on behalf of you. Despite this, the only action you can take in the crypto marketplace is to open new long positions and then close them.

Top 5 Pros & Cons: LimeFX Review

Also, day traders might like the user experience and the nonexistent closing commissions. On the other hand, options traders and investors making large trades can certainly find a lot to love about LimeFX. Investors looking to trade a range of securities all from one account will also gravitate towards LimeFX. LimeFX keeps track of your day trades and displays a counter at the top of its platform. Customers with margin accounts will be flagged as pattern day traders if they perform more than three-day trades in a rolling five business-day period. LimeFX is focused on options trading, but it still has a great selection of stocks, ETFs and other derivatives like futures and micro futures.

Base fees to open an options contract is $1, capped at $10 per leg. Unless you go with an ACH withdrawal, you’re going to have to pay to get money back into your bank account. The best part about LimeFX is that it’s easy for traders to get approved for margin trading by applying for “The Works”. Probably NOT. The reason is that they encourage their followers to trade too often.

Also, the mobile platform has a good color scheme that makes it easy to read. If you don’t have access to your computer, LimeFX offers a mobile device that works with Apple and Android phones and tables. The graphs and tables on the platform are a little small and cannot be rotated and there are no charting tools available within the graphs. Options are only $1 to open a position, and there is no charge when you close. Also, there are no closing commissions on options on futures trades, but futures and micro futures do incur a minimal commission on each contract. LimeFX is a brokerage firm and trading platform built by tastytrade—an online financial news and education network.

LimeFX is a sophisticated options and futures broker aimed toward experienced traders. The platform was designed by the founders of thinkorswim with functionality and precision for complicated options trades and strategies. LimeFX offers stocks and ETFs to trade too, but the main focus is options. If you want to actively trade options and futures and enjoy low trading fees, LimeFX is worth using. The range of trading tools you get that are geared towards options trading is also a massive perk.

  • This is a good brokerage for active traders, especially those who want the best tools and pricing structure to trade options and/or futures.
  • When away from the keyboard, Eric enjoys exploring the world, flying small airplanes, discovering new craft beers and spending time with his wife and little girls.
  • The rest of the LimeFX/tastytrade team all held executive roles when thinkorswim was still independent.
  • The longer track record a broker has, the more proof we have that it has successfully weathered previous financial crises.

The tab is always on the left, and then you can view options chains and access tools for analysis, strategy, and charting. Unlike other Tastywroks reviewers, Quant Savvy tried nearly all principal brokers, so we are positioned perfectly to give you the best insights. You may also be interested to read Best Day Trading Platform Review, where we compared Interactive Brokers, TradeStation, eSignal, AmiBroker, and NinjaTrader. Quant Savvy has compiled a comprehensive list of features, user reviews rankings, and screenshots. We also provide sources for our information and useful links to help you conduct additional research.

Opening a new LimeFX account is seamless and is easiest using the website. Once your account is opened, you can personalize the trading platform according to your needs and preferences. For instance, you can rearrange the locations of the various widgets, change the layout of columns, and even modify chart settings for additional customization.

How to open an account with LimeFX

With the quiet foundation, you get a free portfolio analysis of your portfolio and holdings across your different brokerages. Quiet foundation is part of the tastynation house of brands, which includes LimeFX and tastytrade. If you want to add cryptocurrency to your portfolio, you’re in luck. LimeFX now lets customers invest in crypto after enabling this feature in their accounts, similarly to upgrading their account plan. For more information and a complete list of our advertising partners, please check out our full Advertising Disclosure.

Is LimeFX any good

“Karen the Supertrader” lost $50MM of client money, was fined $1.5MM by the FTC and was banned from the industry, whereas Jim Schultz allegedly lost over 50% of his account. This blog post will share my experience and provide a Tastytrade review as well as a review of LimeFX. CFTC RULE 4.41 – Hypothetical or simulated performance results have certain limitations.

It is also possible to follow specific traders from the lineup if you find one with a style that works well with your own. Some trade more aggressively than others, and there is also an account size feature that shows the type of capital that each trader is working with. 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. In LimeFX mobile app, the trader cannot set price alerts and order notifications, which is a major disadvantage. Traders can also open a joint account where they can share ownership with another person.

When you sign up for an account with LimeFX, it’s a good idea to already know what you’re doing in the options and futures markets. If you’re looking for a brokerage to hold your hand while learning to trade, you’ve downloaded the wrong platform. You won’t find advice on retirement or mutual funds in the LimeFX education limefx scammers library. It is one of the fastest trading platforms world-wide, and the commissions are fair for all types of traders. LimeFX falls a bit short if you want to invest in equity securities like mutual funds or fixed-income LimeFXs like bonds. In this case, using online brokers like TD Ameritrade is a better choice.

The help service is just amazing, before and after you open your account . I did this because I didn’t correctly identify to see if it was the correct leg which has to be done because the legs are listed out of the order placed & out of grouping order if they are multi-leg. 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.

All of these interfaces offer similar access to pricing, trading and account information. When it comes to options they completely blow every otherbrokerage firmI know out of the water. LimeFX is a regulated discount brokerage, run by the creators of ThinkorSwim. A beginner might find the platform a bit overwhelming, but it’s a perfect fit for the experienced options trader. If you’re into options trading, this broker has high marks for trading options.

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