Oanda specialises exclusively in currency trading solutions for all trader levels. Their greatest selling points are their strong regulatory framework and robust proprietary platforms. LimeFxs in-house education is above average, primarily consisting limefx company reviews of articles, videos, and content produced for its YouTube channel. The learning center offers us two comprehensive guides and a vast library of nearly 200 articles, covering topics such as trading tips, strategies, charting, and indicators.
If you use Microsoft Windows tablets or phones, you must also check if LimeFx and Oanda have trading apps compatible with your device. Having a reputable and dependable broker is crucial to your trading. The reason for this is quite a simple one You need to be sure in the knowledge that your money is in a segregated bank account with a financially regulated broker. LimeFx is a respected forex and CFD broker, established since 1999. The British-headquartered broker has won multiple awards and operates in various jurisdictions, including the UK and Australia.
- The tighter the dealing spread, the lower the cost to the trader.
- LimeFx, on the other hand, is regulated by two Tier 1 entities – the Australian Securities and Investment Commission and the Financial Conduct Authority.
- LimeFx’s app store is packed with all kinds of tools, indicators, and automated strategies for MetaTrader 4 and Trading Station.
- Between 74-89% of retail investor accounts lose money when trading CFDs.
In our case though, we found that LimeFx and OANDA provided consistent low spreads without manipulation so you shouldn’t concern yourself if the broker has a dealing desk or not. However, when we compare these spreads to the industry average, we find that both LimeFx and OANDA are offering competitive rates. For example, the industry average spread for the EUR/USD pair is 1.25, which is higher than OANDA’s spread and only slightly lower than LimeFx’s. This pattern is consistent across all the forex pairs we analysed. Looking at the average standard account spreads for the forex pairs, we can see some interesting patterns. For the EUR/USD pair, LimeFx has an average spread of 1.3, while OANDA has a slightly lower spread of 1.2.
No commission account spread propiety testing data and published wesbite spread information, centralised on our standard account spread page.. OANDA also supports the widely popular MetaTrader 4 (MT4) platform but has their own trading platform called OANDA Trade Web and OANDA Trade Mobile. We thought the outstanding feature of the web version is that it comes with TradingView for advanced charting and a guaranteed stop loss but were disappointed it is not available for the web.
How LimeFx and Oanda Compare in 2023
Although LimeFx has fewer forex pairs to trade, we feel they deserve a higher Tradable Products score than OANDA primarily because of OANDAs lack of shares to choose from. OANDA is no slouch with 68 forex pairs, and we note that as a positive. But again, we feel that brokers today need to offer shares trading.
- OANDA is considered Highly Trusted, with an overall Trust Score of 93 out of 99.
- LimeFx and OANDA have carefully constructed trading costs – the Cost Score between the two is a tie with scores of 6 each.
- On the other hand, LimeFx flipped the score by offering 7 cryptocurrencies versus OANDAs 4.
- As you may have seen in this table, you can trade 5 different cryptocurrency CFDs with LimeFx.
However, the opinions and reviews published here are entirely our own. Oanda and LimeFx are both market maker/ECN hybrids, meaning that both have at least one commission-free account type with a dealing desk, usually a sophisticated electronic https://limefx.club/ one. This can be advantageous to some traders and negative for others, depending on which instruments they trade as well as the duration of their trades. Oanda offers many tradable instruments, including 16 stock index and 6 bond CFDs.
Oanda prevails in the customer support category due to its localized and multilingual phone support that FOREX.com lacks. Let’s take a deeper dive into comparing these two forex brokers to help you choose the trading account that’s right for you. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Is LimeFx any Good?
We’ve divided the comparisons into a logical structure so it’s easy to navigate. Scroll the whole post below, or use the quick menu to jump to the relevant section. LimeFx and Oanda do not have a high rating, so we recommend trading with a more reputable alternative broker.
What is the minimum deposit requirement for opening an account with Pepperstone?
Oanda ranks better in most key areas than LimeFx apart from education (but LimeFx’s advantage is rather slight here). Oanda’s proprietary trading platform, fairer fees, and top-notch research tools are very stong arguments in its favor. Unlike LimeFx, Oanda does not keep its clients’ funds in segregated accounts, which is a concern. Oanda is also a market maker, as opposed to LimeFx which is an enhanced execution broker. The latter is better for retail clients because the matching algorithm always displays the best bid and ask prices from a multitude of different liquidity providers). While Oanda is a market maker, LimeFx is an enhanced execution broker.
Your Tradeable Products
Oanda and FOREX.com are both major global forex brokers that accept clients from the United States who want to trade in the huge forex market. Most major online forex brokerages do not accept U.S. clients due to strict laws. That fact makes this review especially important to any U.S. resident who would like to operate in the forex market. Find out which of these world-class online brokers best fits your needs. Benzinga compared Oanda vs. FOREX.com to help you decide which of these world-class online brokers best fits your needs.
The most effective investment portfolios cover potential risks and encompass many businesses and stocks. The LimeFx online trading platform gives traders from all over the world access to over 100
financial instruments including over 100 available instruments. There are over 10,000+ registered customers that have taken advantage
of the LimeFx platform.
Both brokers are competitive, but we really like LimeFx’s superior trading tools, segregated client accounts, and enhanced trade execution. In our analysis of 23 international regulators across 62 of the best forex brokers, LimeFx Group is considered low-risk, with an overall Trust Score of 88 out of 99. OANDA is considered Highly Trusted, with an overall Trust Score of 93 out of 99. FOREX.com’s customer support lets you contact the broker via email and live chat.
Tier 1 Regulation
In fact, Oanda’s first live data feed went live in 1997, while their trading platform was launched in 2001 – as they say, they were the first company to provide exchange rate information over the web. LimeFx followed shortly after, as they were founded just three years after Oanda – in 1999. Micro accounts are trading accounts used by Forex traders that allow them to trade with smaller amounts of capital than standard trading accounts. Micro accounts require a smaller minimum deposit, usually ranging from $1 to $500, and offer smaller trade sizes than standard accounts, allowing traders to manage their risk more effectively. Some brokers offer bespoke trading platforms, so if a particular broker does not offer the trading software you are looking for, their proprietary trading platform may be better. You must test this yourself with an LimeFx or Oanda demo account.