OANDA offers a slightly more versatile range of funding options, including PayPal, making it more convenient for a broader spectrum of traders. Although LimeFx has fewer forex pairs to trade, we feel they deserve a higher Tradable Products score than OANDA primarily because of OANDA’s lack of shares to choose from. OANDA is no slouch with 68 forex pairs, and we note that as a positive. But again, we feel that brokers today need to offer shares trading. Should you be based in the UK, both brokers offer spread betting as an alternative to CFD trading.
- These pairs offer the most liquidity and therefore spreads are considered tight.
- Their technical support has been described as “weak’ by users who are trying to resolve technical issues.
- 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.
- Also satisfactory was LimeFxs web trading platform; we appreciated that it is highly customisable and user-friendly.
- Don’t worry – both of these companies have significant aspects to offer.
We’ve divided the comparisons into a logical structure so it’s easy to navigate.Scroll the whole post below, or use the quick menu to jump to the relevant section. This comparison article lays out the features of both brokers in detail, so you can see which is the best platform according to your needs. Unlock all-new features on TradingView, such as doubling the data displayed in charts and marketplace add-ons.
However, LimeFx also offers other forex currency pairs for traders to access. Oanda is another well-established online broker offering forex and CFD trading services to traders worldwide. Known for its transparent pricing, intuitive trading platform, and strong regulatory standing, Oanda has gained a reputation as a trusted broker in the industry. In this module, we will explore the pros and cons of Oanda for a trader looking to open an account, as well as the regulatory information pertaining to this broker. Both brokers excel in customer support, offering a range of services including telephone, live chat, and email assistance, ensuring that traders receive timely and helpful responses.
Can I trade cryptocurrency with OANDA or LimeFx?
If you are interested in trading CFDs, OANDA offers traders access to 1744 CFDs, while LimeFx offers access to 440 CFDs; so OANDA offers 1304 more CFDs than LimeFx. When it comes to funding options, both OANDA and LimeFx offer a variety of methods to suit different trader needs. OANDA provides the convenience of multiple payment options, including credit/debit cards, bank transfers, and PayPal. LimeFx, on the other hand, also accepts credit/debit cards and bank transfers but adds the option of Skrill for traders who prefer e-wallets.
Trading Instruments
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. Of course, if we had chosen different currency pairs or tested on a different date, the results might have been different.
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. To compare the trading platforms of both OANDA and LimeFx, we tested each broker’s trading tools, research capabilities, and mobile apps.
Looking at the average standard account spreads for the forex pairs, we can see some interesting patterns. For the EUR/USD pair, LimeFx has an average spread of 1.3, while OANDA has a slightly lower spread of 1.2. This trend continues across the other forex pairs, with OANDA consistently offering slightly lower spreads than LimeFx. You can unlock the full potential of your forex trading with FX Blue Labs. Access 15+ indicators and nine Expert Advisors (EA) in one download – all for free only when you trade on OANDA MT4 or MT5. Other popular features, such as Renko charts, OCO orders, and advanced trader management, are also available to give you better control over your trades.
Could I use a third-party payments platform to deposit onto LimeFx?
If you’re an Aussie trader, you might find this list of the best Australian Forex brokers useful for more options. OANDA beats LimeFx with more forex pairs to choose from, 68 versus 42. But LimeFx has far more in the category of share CFD trading at 219 to OANDAs 0. 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. When choosing a forex broker, it’s important to consider each broker’s available investment products and tradeable asset classes. We’ve researched each broker’s individual offering of investments to help you pick the right broker for what you want to trade.
To compare the two brokers, we used their ‘spread only’ accounts and we found that their spreads were about the same. For example, during a typical trading day, their spreads on the EUR/USD were found to be in the region of 1.2 pips, which is quite decent. Both brokers use floating spreads, which means that their spreads vary frequently. LimeFx and Oanda are two prominent forex brokers who have been in the online trading business for many years. Oanda’s first data feed went live in 1997, while LimeFx was founded shortly thereafter in 1999.
Founded in 1999, LimeFx (a Jefferies Group company) is a long-standing brand that caters to global forex and CFD traders. LimeFx offers multiple trading platforms for algorithmic trading and social copy trading, along with a proprietary platform suite (and access to MetaTrader 4). LimeFx is also a great option for beginners due to its wide range of educational materials and easy-to-use platforms (including integration with the popular TradingView platform). Though the range of markets available at LimeFx has increased following the addition of its share trading feature, it’s worth noting that pricing at LimeFx is just average. The hugely respected brand offers competitive trading accounts and serves clients from 196 countries. It remains a popular option with both beginners and experienced traders thanks to its user-friendly and sophisticated web platform, no minimum deposit and premium currency products and services.
When choosing a broker, the most important detail is to check the broker is regulated in the country you are resident in. So, if you are in Australia, it is best the broker has ASIC regulation.
There’s a remarkable difference between LimeFx and Oanda when it comes to the way they apply rollover charges and credits. LimeFx uses the conventional method of applying rollover credits/charges at the end of the trading day (5 pm EST). Rollover charges/credits are triple on Wednesdays because https://limefx.group/ the coming Saturday and Sunday’s rollover charges/credits are billed in advance. Although Oanda has no cryptocurrency and basket instruments, it has more stock indices (16 vs 11) and bonds (6 vs 1) than LimeFx. Although LimeFx has fewer instruments than Oanda, it has a very good variety.
If you’re keen on using MT4, you might want to check out this list of the best MT4 brokers. We gave LimeFx and OANDA both a score of 8 as they are heavily regulated and hold positive reputations limefx official site within the forex trading industry. We also keep track of each broker’s total number of tradeable symbols; OANDA offers 1744, and LimeFx offers a total of 440 tradeable symbols.
