Lime Fx vs OANDA Compared ️ Who is Better Broker 2024

The fees will be noticeable if you have a low budget and do not intend to invest so much with Lime Fx or Oanda. You want the withdrawal fee to be less than one per cent of what you are withdrawing but, more ideally, $5 to $10. The price you are being presented with will factor in the fee the broker takes. Therefore, you will start with a small loss with Lime Fx and Oanda.

• Looking at the average standard account spreads for the forex pairs, we can see some interesting patterns.
• That fee is up to 50 units of the currency in which you’re trading.
• Desktop Platforms were equally acceptable for both Lime Fx and OANDA.
• However, the payments we receive can influence the products, companies, or services we highlight and evaluate.
• 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.

2. Core Account

For this reason, Lime Fx is primarily going to make money on commissions and fees added to each trade order you place. However, having said that, Oanda’s customer service gets consistently fair to poor ratings across a wide range of platform reviews. Long hold times, slow responsiveness to urgent queries and difficulty navigating the website to find the correct support contacts are some of the top complaints. The one notable downside here is the lack of social trading tools. Otherwise, Oanda’s scalable learning resources are designed with the active, intermediate to advanced trader in mind.

• We found it surprising that OANDA doesn’t have shares trading with CFDs, not just because most forex brokers offer this, but because OANDA is such a major global broker.
• As a result, customers ended up with negative balances, causing the broker’s equity balance to come up short by hundreds of millions of dollars.
• It’s important to make sure that your forex broker accepts the funding options and deposit methods that work best for you.
• On top of this, you will need to discover if Lime Fx and Oanda match your trading needs.
• Lime Fx also offers a selection of articles broken down by experience level, catering to beginner, intermediate, and advanced traders.

Features and Platforms

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. One of the key points of distinction is that OANDA is known for its strong compliance culture and its transparency regarding pricing and execution. The company also offers negative balance protection in many jurisdictions, adding an extra layer of safety for traders.

Lime Fx Trading Platforms

Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA) for engaging in deceptive practices and failing to disclose certain material information to customers. Despite this, the company continues to be well-regulated in other jurisdictions, offering traders peace of mind. Oanda is an international Forex broker founded in 1996 with headquarters in the United States. Oanda specialises exclusively in currency trading solutions for all trader levels.

Lime Fx takes the lead in this category, as it features Capitalise AI, a code-free service to automate trading strategies, and broader support for copy and social trading. Both brokers offer better trading conditions for traders with large trading accounts or those (Lime Fx traders) who maintain a certain minimum monthly trading volume. Both brokers offer competitive spreads, but the exact numbers can vary based on the trading pair and market conditions. For example, OANDA has an average limefx scam spread for EUR/USD at 1.2, while Lime Fx’s is slightly higher at 1.3.

Oanda Account Types

Choosing between Lime Fx and OANDA ultimately depends on your trading style, experience level, and limefx forex broker specific needs. Lime Fx offers advanced platforms and features for active traders, including API access and more robust institutional services. On the other hand, OANDA’s focus on user-friendly platforms and transparent pricing makes it an excellent choice for traders seeking simplicity and flexibility. Both brokers provide a solid range of trading platforms, including proprietary options and support for popular tools like MetaTrader 4. To compare the trading platforms of both Lime Fx and OANDA, we tested each broker’s trading tools, research capabilities, and mobile apps. OANDA is particularly known for its innovative use of technology.

Users can choose to trade them on the OANDA trade platform or MT4. Margin requirements are based on the leverage allowed by regulators in a jurisdiction. Lime Fx is a reliable and competitive online broker, particularly for forex and CFD traders. 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. When it comes to choosing an online broker for forex and CFD trading, Lime Fx and Oanda are two well-established and reputable options for traders to consider.

Forex Fixed Spreads

If social trading is a key factor for you, you may need to look at other brokers. For more options, you can explore this list of the best social trading platforms. OANDA is also committed to educating traders, offering free webinars, trading guides, and market analysis. The company’s educational materials are well-suited for both beginners and advanced traders. Additionally, OANDA’s integration with TradingView enhances its research capabilities, providing users with access to a wide variety of charts, news feeds, and analysis. OANDA also offers 24/5 customer support, with assistance available through email, phone, and live chat.

And it has versatile charting capabilities allowing users to see their graphs in full-screen mode or detached. The Lime Fx online trading platform gives traders from all over the world access to over 10,000 financial instruments, Oanda include over 4,000 available instruments. There are over 220,000+ registered customers that have taken advantage of the Lime Fx platform. Lime Fx is ideal for traders who prioritize low spreads, advanced tools like TradingView, and social trading via ZuluTrade. Oanda is a great option for traders who value wide asset variety, superior market research, and MT5 support.