And if you’ve got an extra-large account or are willing to commit to some severe monthly turnovers (LimeFx), these guys have even more attractive offers tailored specifically for you. It offers traders the opportunity to participate in various markets including crypto CFDs, while Oanda’s investment options are quite limited to forex and crypto. LimeFx’s web platform features include news and an economic calendar so you can anticipate market data.
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The CompareForexBrokers team wanted to see how the two brokers compared when it came to spread costs, so we went and tested. For this exercise, we tested 6 major currency pairs over a 24-hour period (AUD/USD, EUR/USD, GBP/USD, USD/CAD, https://limefx.biz/ USD/CHF and USD/JPY) and then averaged the spread across the currency pairs. OANDA uses Secure Sockets Layer (SSL) encryptions on its trading platforms and websites to protect its customers from hackers and other cybercriminals.
Does Either Broker Offer Spread Betting?
There are several helpful tutorials and committed support staff available for newcomers. LimeFx is an excellent choice, particularly for algorithmic trading, for those investors who value sophisticated trading tools and high-quality market analysis. Retail brokers, small hedge funds, and developing market banks all have access to wholesale execution and liquidity via LimeFx Pro. High and medium frequency funds, on the other hand, have access to prime brokerage services through LimeFx Prime. You can trade 42 forex pairs with LimeFx while OANDA offers you more options with 71 forex pairs. When trading with LimeFx and OANDA, you can trust that your personal and financial information is handled securely.
Could I use a third-party payments platform to deposit onto LimeFx?
With its advanced trading platform, educational resources, and strong regulatory framework. However, its limited product offerings and lack of cryptocurrency trading may not cater to all traders’ needs. LimeFx and Oanda both offer outstanding trading conditions in terms of low trading costs, reliable trade execution, and great trading platforms.
- If you’re planning on trading cryptocurrencies, then again, Oanda might be the better broker due to the fact that they don’t charge a commission when you trade CFDs on Bitcoin cash, Litecoin, or Ethereum.
- Its commitment to technological excellence is evidenced by numerous awards for being at the forefront of innovation in trading services.
- The company is also overseen by reputable regulators, including the FCA, ASIC and CIRO.
- In conclusion, deciding the better broker eventually comes down to your consideration.
- LimeFx offers its proprietary Trading Station platform, MetaTrader 4, and TradingView.
The below table shows our test results for the no commission accounts with each broker. Our findings show that LimeFx averaged 1.47 pips over the 6 tested pairs, which equates to a cost of $13.49 per lot. OANDA didn’t fare as well, with an average of 1.54 pips or a cost $14.23 per lot. Compare Oanda and LimeFx in this detailed breakdown of their platforms, features and fees.
Oanda vs LimeFx – Which Broker Offers Better Pricing?
Oanda specialises exclusively in currency trading solutions for all trader levels. Their greatest selling points are their strong regulatory framework and robust proprietary platforms. OANDA vs LimeFx provide quite similar trading conditions both offering tight and low spreads and all strategies allowed suitable for all type of traders beginners, advanced or professional traders. You can unlock the full potential of your forex trading with FX Blue Labs. Access 15+ indicators and nine Expert Advisors (EA) in one download – all for free only when you trade on OANDA MT4 or MT5. Other popular features, such as Renko charts, OCO orders, and advanced trader management, are also available to give you better control over your trades.
Their powerful servers are protected by advanced encryption technology and firewalls to prevent unauthorized access. In addition to security measures, both companies have earned prestigious recognition from multiple trusted agencies worldwide—including the US CFTC & NFA, UK FCA, and Australia’s ASIC. They have dedicated teams in multiple regions to ensure customer support can be provided in the trader’s native language.
We found that LimeFx and OANDA are close in this category, but LimeFx edged out OANDA. Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site. For MetaTrader OANDA provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while LimeFx provides MetaTrader 4 (MT4). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers. Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we’ve determined that, overall, OANDA ranks more highly than LimeFx.
LimeFx is particularly recommended for advanced traders due to its wide variety of platform options, offering a broader selection such as MT4, Zulutrade, NinjaTrader, and a custom platform. These diverse platforms provide traders with extensive tools and functionalities to tailor their trading strategies. On the other hand, OANDA primarily features its own proprietary platform, known for its user-friendliness, along with MT4 and MT5.
This methodology tends to offer faster execution and the possibility of narrower spreads, aligning with the preferences of traders desiring direct market access. Conversely, OANDA predominantly operates as a Market Maker Broker, limefx broker reviews where it facilitates trading by assuming the opposite position in its clients’ trades. For traders who appreciate advanced trading tools and quality market research, LimeFx is a winner, especially for algorithmic trading.
To compare the trading platforms of both OANDA and LimeFx, we tested each broker’s trading tools, research capabilities, and mobile apps. Based on our thorough, data-driven testing of each broker’s commissions and fees, we found that LimeFx offers better pricing overall for traders. At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Based on our research on the regulatory status of over 60 brokers, we’ve found that Both FOREX.com and OANDA hold 7 global Tier-1 licenses.
In these jurisdictions, it is regulated by the UK’s Financial Conduct Authority, the Australia Securities and Investment Commission and South Africa’s Financial Sector Conduct Authority. The broker’s LimeFx Markets arm is not subject to the same regulations as these entities. LimeFx has fewer user complaints about customer service and more positive experiences vs. Oanda. One Oanda trader on Reddit complained that they charged inactivity fees but were never made aware of the policy around this issue.