Oanda narrowly edges out Lime Fx in this category based on the number of Tier-1 (most trusted) operating licenses the broker has obtained. Unfortunately, recent Lime Fx users give both the iOS/Apple and Android apps poor reviews over the last few months. Oanda made the cover of ‘Time magazine’ just one year after launching its first big product. The company released up-to-date online information about exchange rates…absolutely free. In other words, both brokers have what equestrians like to call “staying power.” After this many years in the biz, it is safe to say they are each fundamentally built to last.
- There are multiple complaints by users on Trustpilot who have been unable to withdraw funds, with some customers saying that Oanda makes this process too complicated.
- We are dedicated to maintaining high editorial integrity and transparency during reviews or other posts.
- Lime Fx offers a wide range of methods for depositing and withdrawing funds, including cryptocurrencies.
- The company was one of the first brokers to offer online forex trading with direct market access.
- However, it’s important to note that some of the products we discuss are from our partners.
- Conversely, Lime Fx presents a wide spectrum of markets and instruments, paired with low floating spreads, to cater to a multitude of trading strategies.
Does Either Broker Offer Spread Betting?
Lime Fx, on the other hand, provides a similar level of support but stands out with its educational webinars and market analysis updates. When comparing the range of investments available on OANDA and Lime Fx, both brokers offer forex trading as either a CFD or spot contract, making them versatile platforms for forex enthusiasts. OANDA boasts a significantly larger selection, with 3,928 tradeable symbols and 68 forex pairs, compared to Lime Fx’s 440 symbols and 43 forex pairs.
3. TradingView Integration
Trading costs for OANDA vs Lime Fx are very similar, Spread based Standard account offer almost the same spreads. The only difference is that Lime Fx does not change any fees, while OANDA has a monthly inactivity fee. Otherwise, Oanda’s scalable learning resources are designed with the active, intermediate to advanced trader in mind. The OANDA subsidiary with whom a client contracts depends on their country of residence. Each subsidiary provides different products via different platforms, so clients will experience OANDA differently depending on their country of residence.
Lime Fx Trading Platforms
Both OANDA and Lime Fx offer free virtual demo accounts, which is great for beginners looking to practice their strategies. They also have proprietary platforms developed in-house, while each supports popular platforms like MetaTrader 4 (MT4). However, only OANDA supports MetaTrader 5 (MT5), making it a slightly more versatile option in that regard. Both brokers offer Windows-based desktop platforms and web-based platforms, providing flexibility for traders who prefer different media. Additionally, OANDA and Lime Fx enable direct trading from stock charts, which can enhance the trading experience.
Trading Functionality and Forex Spreads 💷
Yes, Lime Fx and Oanda both offer beginner traders education, research, and quality trading tools. 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. We know what that’s like….and that’s why we’re giving you the bottom line at the top of this page.
This broker’s inactivity fee similarly kicks in if there’s no trading activity over a 12-month period. Oanda offers flexible conditions for depositing and withdrawing funds, but payment system commissions and currency conversion costs may apply. In contrast, as a stp (straight through processing) forex broker, Lime Fx’s primary role is to connect buyers and sellers who wish to partake in that liquidity through trading available assets. For this reason, Lime Fx is primarily going to make money on commissions and fees added to each trade order you place. As well, both market makers and stp brokers provide a valuable service to the greater forex and trading marketplace. But they fulfill very different roles and thus their inherent business structure will reflect each company’s unique role and purpose.
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. Oanda offers access to over 70 forex trading pairs, including major and minor currency pairs. Margin requirements are based on the leverage allowed by regulators in a jurisdiction. Both Oanda and Lime Fx offer different types of trading platforms, providing their traders, for example, with mobile apps for trading on the go.
All reviews, research, news and assessments of any kind on The Tokenist are compiled using a strict editorial review process by our editorial team. Neither our writers nor our editors receive direct compensation of any kind to publish information on tokenist.com. Our company, Tokenist Media LLC, is community supported and may receive a small commission when you purchase products or services through links on our website.
- To support their clients, OANDA enables trading with FxTrade App, MetaTrader 5, Oanda Platform, MetaTrader 4.
- Customer reviews confirm the professionalism and efficiency of the staff.
- The company is also overseen by reputable regulators, including the FCA, ASIC and CIRO.
- The funds are kept safe by top global banks and cannot be used to reimburse creditors in the unlikely case of Lime Fx going bankrupt or insolvent.
- Lime Fx (Forex Capital Markets) is an established name in the forex trading industry.
OANDA has a lower minimum deposit requirement of $0 vs $50 from Lime Fx. Having said that, if you use cards or Trustly as your payment option, both channels require at least $25 or equivalent. Despite both brokers being highly regulated, we found the brokers are not spotlessly clean. OANDA was fined $20,000 by the NFA in 2021 and $500,000 by the CFTC for regulatory breaches in 2020.
These both accounts are based on spread and are Standard and Premium account with better costs. Also, Islamic Account is meant for traders following Sharia laws with suited conditions and applicable laws available. Trying to choose between OANDA vs Lime Fx, but can’t decide which Broker is better Broker for your trading strategy? Both Oanda and Lime Fx are forex brokers that have been in the online trading business for decades now. 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 limefx forex brokers reviews first company to provide exchange rate information over the web.
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, where it facilitates trading by assuming the opposite position in its clients’ trades. From my perspective, Lime Fx is the better option for UK Forex traders. Both brokers are FCA regulated, but Lime Fx offers spread betting, which is a tax-efficient way to trade in the UK. For more information on the Best Forex Brokers In UK, you can visit this comprehensive list of the Best Forex Brokers In UK.
Recent reviews cite frequent crashes and auto-logouts that interfere with their trades. Both Lime Fx and Oanda offer discount options for active or VIP traders. One https://limefx.name/ year after Lime Fx began its long descent into scandal, Oanda released what is still a seminal manifesto in the forex marketplace, the Forex Trader’s Bill of Rights. Our primary goal at The Tokenist is to simplify the word of financial decision-making, so that investing is not only easy – but also fun.
And it has versatile charting capabilities allowing users to see their graphs in full-screen mode or detached. We test brokers on real accounts using our own methodology, evaluating the quality of order execution, trading conditions, platforms and customer support. There is an obvious advantage for Lime Fx for offering at least 4 different trading platforms to its traders, while OANDA’s offer is limited to MT4 and proprietary platform. OANDA vs Lime Fx 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.
The rise of the internet has paved the way for online brokers, which in turn have given individual investors the same access to global markets as institutional investors. Thanks to online brokers, traders have tools at the fingertips that can transform them from a novice into a pro. Oanda is an excellent choice for traders seeking a reliable and regulated broker with competitive spreads and various trading assets. For traders looking for tighter spreads and lower commissions, OANDA offers the Core Account. This account is best suited for high-frequency traders who prioritize execution speed and cost efficiency.