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. Crypto trading has become popular among forex traders across a range of international jurisdictions. If you are looking to trade physical cryptocurrencies, you’ll find that neither OANDA nor LimeFx allow you to trade physical cryptocurrencies. Both Oanda and LimeFx are forex brokers that have been in the online trading business for decades now. LimeFx followed shortly after, as they were founded just three years after Oanda – in 1999.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. 74.74% of retail investor accounts lose money when trading CFDs with LimeFx.
- In today’s markets, we find the more cryptos to trade, the better because there is a growing demand for crypto trading.
- LimeFx also offers trading analytics to help you improve your trading performance.
- 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).
- LimeFx offers trading tournaments where users can compete for cash prizes on demo accounts without having to risk their own money.
Looking at the average spreads among the key Forex pairs, we have to say that Oanda is more competitive compared to LimeFx. For example, the average spread on EUR/USD on LimeFx comes out to 1.3, while on Oanda, it’s as low as 0.1. From its beginnings in 1999, LimeFx has become a recognized leader in the forex and CFD markets. Its commitment to technological excellence is evidenced by numerous awards for being at the forefront of innovation in trading services.
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When comparing tier-3 licenses OANDA is British Virgin Islands (FSC Authorised), while LimeFx is none.. Neither have Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised), Cayman Islands (CIMA Authorised), Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised). While both brokers are doing great in terms of their traders’ safety, we have to say that in this case, Oanda takes the crown – mainly because it is regulated by more entities compared to LimeFx. LimeFx, on the other hand, is regulated by two Tier 1 entities – the Australian Securities and Investment Commission and the Financial Conduct Authority.
LimeFx: Superior Customer Service
With up to two decades of experience each, LimeFx and OANDA are well-established brokers brimming with competitive advantages. Picking between these industry leaders is an excellent way for traders, old or new, to jump-start their journey into trading. LimeFx and Oanda both offer outstanding trading conditions in terms of low trading costs, reliable trade execution, and great trading platforms. These brokers also have a good range of tradable instruments, although we would like to see them add a good number of individual stocks CFDs to their lists. Oanda’s list also lacks cryptocurrencies, but perhaps it will have some crypto instruments available soon. When it comes to trading platforms, both LimeFx and Oanda offer multiple options.
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. Customers have complained about not being able to withdraw funds that were deposited, in one case amounting to $40.
Is OANDA or LimeFx safer for forex and CFDs trading?
The company is also overseen by reputable regulators, including the FCA, ASIC and CIRO. However, there’s a trend sweeping the industry of zero-commission trading, leaving many trading platforms to make money from the spread between two instruments. To learn about a broker’s pricing model, it helps https://limefx.biz/ to examine the various charges for trading specific markets, as they tend to vary and can also get updated. From my perspective, LimeFx is the better option for UK Forex traders. Both brokers are FCA regulated, but LimeFx offers spread betting, which is a tax-efficient way to trade in the UK.
Earn an exclusive badge next to your name, get custom resolutions for symbols, and start trading directly from TradingView with LimeFx integration – making it smoother. This level of personalization, combined with the ability to quickly react to market changes, manage risk, and stay informed with alerts on significant market events, makes it a category leader. This limefx official site can be advantageous to some traders and negative for others, depending on which instruments they trade as well as the duration of their trades. No, third-party payments are not supported and violate the broker’s anti-money-laundering practices. For LimeFx, if you are looking for a regulated platform, you must choose between its UK, AU or South African operations.
Conclusion on OANDA vs LimeFx
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, USD/CHF and USD/JPY) and then averaged the spread across the currency pairs. Our research team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Our independent database powered by our unbiased research will help you compare OANDA vs LimeFx side-by-side.
Depending on the type of instrument they’re trading and how long each trade lasts – this could be highly beneficial or detrimental. Have you ever been caught off guard by end-of-day rollover charges or credits? Well, LimeFx and OANDA are two currency brokers taking different approaches. With LimeFx, they use the conventional method of applying these fees at 5 pm EST daily – with a triple charge on Wednesdays due to weekend adjustments in advance. Compare Oanda and LimeFx in this detailed breakdown of their platforms, features and fees. LimeFx is a global brokerage headquartered in the U.K that specialises in both retail and institutional trading with a comprehensive API offering.
The only downside with using OANDA is its comparatively small range of markets and industry-average spreads. LimeFx provides forex and CFD market access across experience levels. This broker offers trading in major forex pairs as well as forex baskets across the U.S. dollar, Japanese yen and emerging markets. Most of the forex trading occurs on major currency pairs such as EUR/USD, USD/JPY, GBP/USD, USD/CHF. These pairs offer the most liquidity and therefore spreads are considered tight.