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This is not the lowest spread for majors as there are brokers with lower spreads, but for traders who prefer straightforward model of spreads for trade, this fees structure works okay. When you trade with LimeFX, it is at your own risk, because they are not regulated in Malaysia. Yes, LimeFX allows withdrawal of funds through multiple methods. Clients residing in Malaysia can deposit and withdraw through credit/debit cards, e-wallets, and cryptocurrency wallets. LimeFX does not charge any fee for deposits or withdrawals in Malaysia.
There are two account types at LimeFX but both have the same pricing structure. LimeFX presents traders with a competitively priced, commission-free pricing environment. It is also a rare broker fully compliant with Shariah law for Islamic traders.Beginner traders will benefit from well-thought-out research and educational services. The generous bonuses and promotions complement the excellent core trading services.
Step 4) After clicking the confirm button from the email, you will be taken to a page to provide some personal information, like phone number, address and city, and date of birth. Answer ‘Yes or limefx scammers No’ if you have traded Forex before, then click ‘Continue’. Join an intenational broker with 12 yearsof experience and 60+ industry awards. Trade with a 100% deposit bonus and get a chanceto win an iPhone 15 Pro, a merch pack and many more.
LimeFX is safe to trade due to FSASVG regulation but it is riskier than top-tier regulated CFD brokers in Malaysia. This extremely low number suggests Malaysian investors simply lack opportunities and options for investing in the international financial markets. Nevertheless, The Securities Commission and Bank Negara are quick to add international brokers to their alert lists. The absence of a licence, however, only affects certain advertising aspects of the brokers’ work, as they can still legally accept clients from Malaysia.
- The quality and diligence of support services must be checked before opening the account.
- FBS is known for low minimum deposits, extensive educational resources, and copy trading services.
- Below is our curated list and review of the best forex brokers for traders living in Malaysia, with details and information about the country’s laws, features, and characteristics.
- The account of traders from Malaysia at LimeFX are opened under offshore regulation.
- All trading, fees, deposits/withdrawals, and profits/losses will be shown in your chosen currency.
LimeFX Deposit and Withdrawal
LimeFX offers trading on forex, stocks, commodities, indices, and cryptocurrencies through MetaTrader and proprietary platforms. LimeFX is regulated by multiple authorities including FCA, CySEC, and FSCA. LimeFX is known for competitive spreads, fast execution, and extensive educational resources.
Things you should know before Trading in Forex : LimeFX Explained
Traders at LimeFX can choose between MT4 and MT5 web traders for trading through any browser. For desktop devices, traders can trade on MT4 and limefx forex broker MT5 web traders through their regular web browsers. Web traders are available in more than 20 languages and are highly customisable.
Stick with regulated brokers
The support services are good through live chat but local phone support is not available in Malaysia. The features, services, and trading conditions are nearly similar for both account types. Both the account types can be chosen either with USD or EUR as the base currency. MYR is not available as the base currency of the accounts. However, when it comes to Forex trading itself, it’s extremely important to acquire sufficient knowledge of the financial markets and use risk management techniques when trading.
How to verify if a forex broker is regulated in Malaysia
Step 5) Select the account type you want to open (MT 4 or MT 5), select Live Account, choose your preferred account currency, set a leverage limit and click ‘Make a deposit into account’. If you suffer a loss from an unsuccessful trade, any negative balance that accrue in your account will be reset to zero and you will not need to deposit any money to clear the negative balance. 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. The customer support service plays an important role whenever clients face queries while trading. The quality and diligence of support services must be checked before opening the account. MT4 is the most widely used desktop trading platform with a very basic interface that looks similar to Windows 98.
Without that, you are facing great risks of losing your money with any broker you choose to trade with. So ensure you are fully prepared before depositing your funds and starting investing or trading in the financial domain. Filippo Ucchino has developed a quasi-scientific approach to analyzing brokers, their services, offers, trading apps and platforms. He is an expert in Compliance and Security Policies for consumer protection in this sector. Filippo’s goal with InvestinGoal is to bring clarity to the world of providers and financial product offerings. Filippo specializes in the best Forex brokers for beginners and professionals to help traders find the best trading solutions for their needs.