However, Lime Fx also offers other forex currency pairs for traders to access. Oanda is a reputable online broker that offers a diverse range of trading instruments and a user-friendly trading platform. However, the limited account types and lack of cryptocurrency trading may not be suitable for all traders’ preferences. In conclusion, deciding the better broker eventually comes down to your consideration.
Tie: Lowest Spreads And Fees
- To compare the trading platforms of both Lime Fx and OANDA, we tested each broker’s trading tools, research capabilities, and mobile apps.
- They are now based out of London, UK (and thankfully well on the road to recovering their reputation as an online broker who can once again be trusted).
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- A minute can equal an eternity in a marketplace that deals in the trillions on a daily basis.
Surveys show the platform rates just above average across the board in this area. Overall, customer surveys indicate Lime Fx is more responsive to trader needs and more professional in how inquiries are handled. There is also a plugin traders can use to integrate with their own MT4 platform as desired. Oanda’s average spread is 1.4 versus Lime Fx’s average spread is 1.3. Oanda’s all-in-cost is also 1.4 versus Lime Fx’s all-in-cost is 0.7. But then again, Oanda requires an initial minimum of just $50 to fund a live trading account, while Lime Fx requires a $300 minimum to fund the same.
Is Lime Fx or OANDA safer for forex and CFDs trading?
When it comes to trading platforms, both Lime Fx and Oanda offer multiple options. This comes down to personal choice, When comparing Lime Fx vs. Oanda on trading platforms, we’ll call it a draw. But Lime Fx does have a slight edge thanks to its copy-trader capabilities on ZuluTrade. However, traders can still choose their ideal brokers by the type of their spreads. The pros and cons between the two spreads can vary for every trader.
For us, one of its main highlights is the Marketscope 2.0 charting tool, which offers 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. Based on this data, I would argue that OANDA is the cheaper option in terms of spreads. However, it’s important to remember that spreads are just one aspect of the cost of trading. Other factors, such as commission fees and account types, can also impact the overall cost.
Through webinars, tutorials, and written content, Oanda facilitates a comprehensive learning environment, enabling traders to enhance their market knowledge and trading proficiency. Unlike Lime Fx, Oanda does not keep its clients’ funds in segregated accounts, which is a concern. Oanda is also a market maker, as opposed to Lime Fx which is an enhanced execution broker. The latter is better for retail clients because the matching algorithm limefx reviews always displays the best bid and ask prices from a multitude of different liquidity providers).
As you may have seen in this table, you can trade 5 different cryptocurrency CFDs with Lime Fx. They are bitcoin, ether (ethereum), ripple, litecoin, and bitcoin cash. He has Finance degree at Monash University and is an investor in shares and equities and successfully started and sold the online business Hearing Choices.
Lime Fx Customer Service and Support 📞
Lime Fx 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 limefx forex broker 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.
So Is OANDA or Lime Fx The Best Broker?
You can personalize your platform by downloading indicators, creating watchlists and customizing layouts to better equip the platform to match your strategy. Users also have the convenience to access TradingView Live Trading Integration with Lime Fx to trade directly from your TradingView charts. You’ll want to be mindful about leaving positions open overnight on Oanda. This broker charges a financing cost to users at the end of each trading day for open positions. It’s calculated on a per-position basis and encompasses an administrative fee as well as the interest differential of the trade. However, having said that, Oanda’s customer service gets consistently fair to poor ratings across a wide range of platform reviews.
Does Either Broker Offer Spread Betting?
When acting as an STP Broker, Lime Fx directly routes traders’ orders to liquidity providers, avoiding the role of a counterparty. 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. Oanda and the Lime Fx group of companies are regulated by different top-tier financial authorities around the world. A major difference, however, is that traders from the United States are not eligible to apply for a live trading account with Lime Fx, while Oanda’s services are available to U.S. residents. 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.
In this comparison, we will delve into the key features, pros, and cons of each broker to help you make an informed decision on which platform best suits your trading needs and preferences. Oanda offers access to over 70 forex trading pairs, including major and minor currency pairs. 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.
No, third-party payments are not supported and violate the broker’s anti-money-laundering practices. Beginning traders may find Lime Fx’s learning portal less overwhelming to organize and make use of. Oanda narrowly edges out Lime Fx in this category based on the number of Tier-1 (most trusted) operating licenses the broker has obtained. 🔍 Are you looking for some alternative apps for mobile trading?
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. Yes, Lime Fx and Oanda both offer beginner traders education, research, and quality trading tools.
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