Unlike OANDA, Lime Fx has a fixed minimum deposit amount for its traders. OANDA offers a more flexible and accessible range of account types, especially for beginners and those looking for fixed commissions. In this review, we looked at how the Forex broker OANDA and Lime Fx compare. Both have their own trading platform plus MT4 and TradingView, along with (mostly) no commissions. The posted support hours for phone and live chat are Sunday at 1pm to Friday at 6pm, which is a wider support window than what Lime Fx offers.
- On the other hand, Lime Fx flipped the score by offering 7 cryptocurrencies versus OANDA’s 4.
- But they fulfill very different roles and thus their inherent business structure will reflect each company’s unique role and purpose.
- These platforms support algorithmic trading and provide advanced charting tools.
- Customer service and support is a particularly big deal in the fast-moving, high-risk field of forex trading.
- When choosing a broker, the most important detail is to check the broker is regulated in the country you are resident in.
Trading Platforms
Get ultimate control of your trades when you set Stop Loss and Take Profit orders before executing them. Work with precise lot sizes for maximum financial protection, then close as much or as little of a position at any time. These are derivative products that let you trade a fraction of the value of the asset you’re trading. No, third-party payments are not supported and violate the broker’s anti-money-laundering practices. Although Oanda has no cryptocurrency and basket instruments, it has more stock indices (16 vs 11) and bonds (6 vs 1) than Lime Fx. Although Lime Fx has fewer instruments than Oanda, it has a very good variety.
Lime Fx vs OANDA: Who hosts the best trading platform?
Both OANDA and Lime Fx are ASIC regulated, but OANDA has a more comprehensive offering for the Australian market. If you’re an Aussie trader, you might find limefx this list of the best Australian Forex brokers useful for more options. The trading platform is essential as you can’t execute a trade without it.
Lime Fx: Best For Experienced Traders
Have you ever been caught off guard by end-of-day rollover charges or credits? Well, Lime Fx and OANDA are two currency brokers taking different approaches. With Lime Fx, 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.
What’s the difference between Lime Fx, OANDA, Forex.com and ICE?
As far as pricing goes and which of the Forex trading providers does better in this regard, there are a few things that you should take into account. Easily access OANDA’s MetaTrader 4 web platform from your Mac without any Windows installations. Plus, stay in the loop with push notifications sent directly to your MT4 mobile app, including updates from the MQL5 community. Unlock all-new features on TradingView, such as doubling the data displayed in charts and marketplace add-ons.
More Forex Guides
For example, our tests suggest OANDA is a better choice than Lime Fx for AUD/USD (far superior) and USD/CAD currency pairs. 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.
They have dedicated teams in multiple regions to ensure customer support can be provided in the trader’s native language. Plus, there are plenty of self-service resources via their websites, e.g., FAQs and tutorials. StockHax strives to provide unbiased and reliable information on cryptocurrency, finance, trading, and stocks. However, we cannot provide financial advice and urge users to do their own research and due diligence. Lime Fx offers trading tournaments where users can compete for cash prizes on demo accounts without having to risk their own money. Features on this platform include volume profile indicators, multiple charts layout, advanced price scaling and others.
Lime Fx’s in-house education is above average, primarily consisting of articles, videos, and content produced for its YouTube channel. The learning centre offers us two comprehensive guides and a vast library of nearly 200 articles covering topics such as trading tips, strategies, charting, and indicators. Lime Fx also offers a selection of articles broken down by experience level, catering to beginner, intermediate, and advanced traders. For traders who want to use their own or another outside trading platform, Lime Fx now offers this extra perk as well. And for big ticket forex traders, Lime Fx makes its virtual private server (VPS) network available gratis. When choosing a forex broker, it’s important to consider each broker’s available investment products and tradeable asset classes.
What this means is that both forex brokers have seen competitors come and go…and come and go…and come and go. It says something to achieve this kind of multi-decade longevity in a field as tumultuous and risky as the forex marketplace. Fintech-Insight is dedicated to delivering unbiased and dependable insights into cryptocurrency, finance, trading, and stocks. However, we must clarify that we don’t offer financial advice, and we strongly recommend users to perform their own research and due diligence. This powerful platform boasts advanced tools, deeper market insights, and improved charting capabilities – perfect for traders looking to level up their strategy. TradingView is your go-to source for all the latest trading and investing news.
OANDA is better suited for beginner traders due to its lower minimum deposit and more straightforward account features. Based on our analysis, Lime Fx offers a slightly more comprehensive customer service experience, particularly with its educational webinars and in-depth responses. On the other hand, Lime Fx flipped the score by offering 7 cryptocurrencies versus OANDA’s 4. In today’s markets, we find the more cryptos to trade, the better because there is a growing demand for crypto trading.
In a typical trading day across all markets – from EUR/USD and beyond – their spreads were identical, with each around 1.2 pips; that’s pretty good news for investors. And if you’ve got an extra-large account or are willing to commit to some severe monthly turnovers (Lime Fx), these guys have even more attractive offers tailored specifically for you. 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. Trying to choose between OANDA vs Lime Fx, but can’t decide which Broker is better Broker for your trading strategy? 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.
Lime Fx misled these clients to believe that it was a ‘no dealing desk’ broker and that its interests were aligned with that of its clients. Oanda, on the other hand, is known to be a ‘market maker’ (dealing desk) broker, which means that it can take the other side of its clients’ trades (trade against its clients). Lime Fx also offers a paid programming service to clients interested in automating their trading strategies. The broker provides a seamless experience with additional plugins and a user-friendly interface. If you’re keen on using MT4, you might want to check out this list of the best MT4 brokers.
Online brokers generally offer users the option not only to trade on their native platforms but also outside systems. On the other hand, Oanda ensures traders have access to a wealth of educational resources. Through webinars, tutorials, and written content, Oanda facilitates a comprehensive learning environment, enabling traders to enhance their market knowledge and trading proficiency.
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. Lime Fx is a global brokerage headquartered in the U.K that specialises in both retail and institutional trading with a comprehensive API offering.
As far as tier-2 licenses go, OANDA is none, while Lime Fx is Cyprus (CySEC Authorised), Israel (ISA Authorised) and South Africa (FSCA Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Russia (CBR Authorised), Thailand (SEC Authorised) and UAE (DFSA/Central Bank Authorised). When comparing tier-3 licenses OANDA is British Virgin Islands (FSC Authorised), while Lime Fx is none.. Neither have Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised), Cayman Islands (CIMA Authorised), Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised). 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 Lime Fx side-by-side.
Users report frequent crashes and missing or slow-to-load features. Unfortunately, recent Lime Fx users give both the iOS/Apple and Android apps poor reviews over the last few months. https://limefx.name/ 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.
For more information on the best trading platforms in the UK, you can visit this comprehensive list of the best UK trading platforms. It is widely known that forex brokers offer other trading instruments other than currency pairs. The offer gives interesting choices for traders to explore other markets that may be proven beneficial for them and to diversify their trading portfolios. Founded in 1996, OANDA is a long-standing, highly trusted broker licensed in an impressive seven Tier-1 regulatory jurisdictions. The OANDA Trade platform is available for web, desktop, and mobile. Though the desktop platform is good – not great – the mobile app is easy to use and boasts a great balance of features.
The price that traders pay is the spread, which is the difference between the ask and the bid price of the security being traded. Lime Fx is a forex, CFD, equities, precious metals and crypto broker with over 20 years of experience. Through a partnership with Jefferies Group, Lime Fx offers a professional trading service for financial institutions and sophisticated traders. Lime Fx vs OANDA both offer a singular account option, inclusive of Islamic accounts. This facilitates traders who follow Sharia principles to participate in currency trading on their platforms.
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