When trading with either LimeFx or Oanda you will want to understand and make full use of all the
risk management features on your LimeFx or Oanda trading platforms. Regulation alongside currency availability is important when deciding upon a broker. It is very important when selecting a broker like the LimeFx platform or Oanda that they are regulated.
Our comparison will help you judge the effectiveness, price, ease of use and support trustworthiness of LimeFx and Oanda side by side. Well in our side by side comparison we make it easier for you to see what is right for you. As with anything the final decision on which broker to trade with should ultimately be based on what and how you going to trade. Finally, LimeFx has a withdrawal commission, which is also something to take into account. We’ve compared more than 100 variables and features so you can see the pros and cons of LimeFx and Oanda side by side.
- These traders will benefit the most from using the LimeFx platform.
- Unfortunately, at the moment, Oanda only has its proprietary platform and MT4.
- LimeFx offers more security to traders and has a much higher trust score than OANDA overall.
- They did not charge us for deposits or credit/debit card withdrawals.
When trading on financial markets you will want to know all about who LimeFx or Oanda are, and how they compare. You will naturally want to know how long LimeFx and Oanda have been in business and what reputation LimeFx and Oanda have. On top of this, you will need to discover if LimeFx and Oanda match your trading needs. We thought LimeFx and OANDA matched up well on education and research.
LimeFx vs Oanda
Unfortunately, recent LimeFx users give both the iOS/Apple and Android apps poor reviews over the last few months. Today, the “clean up LimeFx’s reputation” project is going as well as can be expected, considering they are still not able to accept United States traders. LimeFx also facilitates cryptocurrency trading while Oanda does not.
- We thought LimeFx and OANDA matched up well on education and research.
- Oanda ranks better in most key areas than LimeFx apart from education (but LimeFx’s advantage is rather slight here).
- Let’s see how LimeFx vs Oanda compare side by side for commissions and fees.
- Yes on bank transfer withdrawals depending on location (from $10 to $40 on local currency).
- LimeFx requires a minimum deposit of $0 before you can open an account and start trading forex.
- 🔍 Are you looking for some alternative apps for mobile trading?
The same goes for trading instruments; if you want to try delving into different markets, seek for a broker with more options on trading instruments. The overall choice is superior at LimeFx, where traders may select between the retail-favorite MT4, its proprietary Trading Station, and the social trading market leader ZuluTrade. Enhancing the choice is the LimeFx suite of tools for algorithmic trading solutions.
LimeFx vs OANDA Broker Comparison
If you’re itching to start trading, we can assist you in making a well-informed decision when comparing LimeFx and Oanda. By comprehensively comparing LimeFx and Oanda features and services, you can choose a trading platform that best suits your needs and preferences. We aim to equip you with the knowledge to make an educated decision and feel confident in your trading journey with LimeFx, Oanda or an alternative broker. 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.
The trading platform is essential as you can’t execute a trade without it. Additionally, trading platforms provide
price charts and an assortment of analytical tools to help traders with their strategies. Oanda and the LimeFx group of companies are regulated by different top-tier financial authorities around https://limefx.club/ the world. A major difference, however, is that traders from the United States are not eligible to apply for a live trading account with LimeFx, while Oanda’s services are available to U.S. residents. OANDA provides traders 71 currency pairs (e.g., EUR/USD) compared to LimeFx’s 41 available pairs.
Finally, we found FOREX.com to provide better mobile trading apps. To compare the trading platforms of both LimeFx Group and OANDA, we tested each broker’s trading tools, research capabilities, and mobile apps. Finally, we found OANDA to provide better mobile trading apps. LimeFx is the overall winner based on its pricing, trading platforms, resources, and range of instruments offered. In addition, LimeFx also has a much higher trust score than OANDA, which means that more traders trust it as their connection to the financial markets. To compare the trading platforms of both FOREX.com and LimeFx, we tested each broker’s trading tools, research capabilities, and mobile apps.
This account has a fixed rather than a tiered commission for each lot, this being $7.00 per lot which in our experience is the standard amount most brokers charge. Interestingly, our tests captured OANDA as having lower minimum limefx forex brokers reviews spreads and lower average minimum spreads as well. So to us, if you time your order, OANDA can be a better choice. To achieve this, your best bet is to use some sort of automation which is possible with both brokers.
Unfortunately, at the moment, Oanda only has its proprietary platform and MT4. FOREX.com is a trusted brand that delivers an excellent trading experience for forex and CFDs traders across the globe. It offers a wide range of markets and provides an impressive suite of proprietary platforms – alongside limited access to MetaTrader.
Customers may have access to the market on a scale not available from any other company because of their connections to prime brokers, technology suppliers, and tier-one banks. On every one of its websites and platforms, LimeFx has installed a Secured Socket Layer, often known as SSL. To prevent hackers from gaining access to sensitive information, the data transfer that occurs between the workstations of LimeFx’s customers and the company’s servers is encrypted using SSL.
What is the minimum deposit requirement for opening an account with OANDA?
Yes, both these brokers offer MetaTrader, but LimeFx only offers MetaTrader 4. OANDA offers the core pricing plus commission and the spread. You can manage your positions and receive mobile notifications through Oanda’s app that also provides a trading performance tool. This tool lets you examine your trading history, breaking down your performance by instrument, profit/loss, win rate and risk-to-reward ratio. LimeFx is a global brokerage headquartered in the U.K that specialises in both retail and institutional trading with a comprehensive API offering.
Trading Functionality and Forex Spreads 💷
Also satisfactory was LimeFxs web trading platform; we appreciated that it is highly customizable and user-friendly. The platform offered us a wide range of order types, and features a great search function. However, it lacks two-step authentication, which is an essential security feature. Like LimeFx, OANDA has a commission account called their Cores spread account and it is available in Australia, Singapore and the US.
For us, one of its main highlights is the Marketscope 2.0 charting tool, offering powerful charting capabilities that run parallel to the main platform window. Trading Station is a strong competitor to MetaTrader and features complex back-testing options, such as accounting for potential historical slippage and trading costs. 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.
Leverage
FOREX.com edges out Oanda in this category for its ability to take conditional orders, its Reuters news feed and for offering clients the option of both MetaTrader4 and 5 platforms. The FOREX.com mobile app also has an integrated fund management option not found at Oanda. Trading on the go can be an important aspect for a beginner or advanced trader. Here’s what you need to know about these platforms’ mobile app capabilities. When trading CFDs, stocks, commodities, currencies, cryptocurrencies or any other financial instruments with either LimeFx or Oanda you will find Email support is also very useful. Sometimes you might have a more complex question requiring a specific part of the LimeFx or Oanda support team to answer satisfactorily.
What happens if LimeFx or Oanda go bust?
When choosing a broker, the most important detail is to check the broker has is regulated in the country you are resident to.So if you are in Australia, it is best the broker has ASIC regulation. We consider both brokers a toss-up with commodities as they have virtually equal offerings. Oanda gave us the edge to choose more bonds and treasuries, which we really liked. All in all, the two brokers are a solid choice regardless of which one you decide to go with. And if you want to learn more about either of them, check out our more detailed LimeFx and Oanda reviews. 🌐 Are you interested in additional country specific brokers?
I want to open a demo account and I’m looking at either LimeFx or Oanda. There’s a remarkable difference between LimeFx and Oanda when it comes to the way they apply rollover charges and credits. LimeFx uses the conventional method of applying rollover credits/charges at the end of the trading day (5 pm EST). Rollover charges/credits are triple on Wednesdays because the coming Saturday and Sunday’s rollover charges/credits are billed in advance. Although Oanda has no cryptocurrency and basket instruments, it has more stock indices (16 vs 11) and bonds (6 vs 1) than LimeFx. Although LimeFx has fewer instruments than Oanda, it has a very good variety.
