LimeFx and Oanda offer low deposits and access to a selection of market insights and news resources. Demo trading accounts are a big plus for LimeFx and Oanda as it shows they are interested in their customers. The primary purpose of ECN accounts is to provide traders with faster execution speeds and better pricing by connecting them directly to the market. ECN accounts allow traders to exploit the tightest spreads and access the deepest liquidity pools.
Oanda’s mobile app for iOS/Apple is a hit with traders as the recent reviews will attest. Unfortunately, the same does not hold true for the Android version of the app. Recent reviews cite frequent crashes and auto-logouts that interfere with their trades. LimeFx offers mobile apps for both iOS/Apple and Google/Android. LimeFx, on the other hand, is regulated by two Tier 1 entities – the Australian Securities and Investment Commission and the Financial Conduct Authority. Withdrawal processing times depend on the payment processor, where LimeFx offers more transparency, noting it processes requests within two business days.
- Funding though, is where LimeFx shined better as they provided us with more deposit methods.
- If you are an active trader, it is better to choose a broker with a variable spread that is generally lower than the fixed one.
- In today’s markets, we find the more cryptos to trade the better because there is growing demand for crypto trading.
Numerous notifications are usually sent to you as a reminder of dormant LimeFx and Oanda accounts, giving you sufficient time to decide on the appropriate course of action. https://limefx.group/ You can opt to continue using your LimeFx or Oanda account, or choose to close it. The price you are being presented with will factor in the fee the broker takes.
From the most recent user reviews for each app, it appears the company is in the midst of a number of app updates. Users report frequent crashes and missing or slow-to-load features. Oanda’s average spread is 1.4 versus LimeFx’s average spread is 1.3. Oanda’s all-in-cost is also 1.4 versus limefx courses scam LimeFx’s all-in-cost is 0.7. Each trader comes to the forex marketplace with their own individual needs, preferences and goals. 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).
Neither broker supports social trading, however, it is still possible by using MetaTrader’s Trading Signals, to have the ability to copy trades of successful traders. Also satisfactory was LimeFxs web trading platform; we appreciated that it is highly customizable and user-friendly. The platform offered us a wide range of order types, and features a great search function.
We found that LimeFx and OANDA are close in this category, but LimeFx edged out OANDA. Of course, if we had chosen different currency pairs or tested on a different date, the results might have been different. For example, our tests suggest OANDA is a better choice than LimeFx for AUD/USD (far superior) and USD/CAD currency pairs.
LimeFx Vs Oanda Available Financial Markets
This account has tiered commissions and is best for high-volume traders. The CompareForexBrokers team wanted to see how the two brokers compared when it comes 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.
- You have the option of downloading the free MT4/5 mobile trading app that includes all of the advanced features including copy trading found on the popular 3rd-party platform.
- Stop loss orders are very useful for more volatile investments, especially when speculating on a stock or Forex currency pair.
- Having a reputable and dependable broker is crucial to your trading.
Some of you might be thinking about what we mean when we say ‘trading style’. A day trader using LimeFx or Oanda will look to open positions and close them on the same day. Day trading in this way will require a broker that specialises in this. To do this with some brokers would be a bad idea because of the commission and fees involved. Check if LimeFx and Oanda fees match your trading requirements. When trading on financial markets you will want to know all about who LimeFx or Oanda are, and how they compare.
For example, the average spread on EUR/USD on LimeFx comes out to 1.3, while on Oanda, it’s as low as 0.1. Unlike LimeFx, Oanda does not keep its clients’ funds in segregated accounts, which is a concern. Oanda is also a market maker, as opposed to LimeFx which is an enhanced execution broker. The latter is better for retail clients because the matching algorithm always displays the best bid and ask prices from a multitude of different liquidity providers).
What is the minimum deposit requirement for opening an account with LimeFx?
The range of platforms and tools that are accessible to them. LimeFx is an excellent choice, particularly for algorithmic trading, for those investors who value sophisticated trading tools and high-quality market analysis. FOREX.com’s customer support lets you contact the broker via email and live chat. While no direct phone number was found on its website, you can contact FOREX.com through its convenient live chat feature 24 hours a day during the trading week from 10 a.m. In addition to advanced charting and technical analysis tools, the FOREX.com app lets you input real-time order alerts.
Security and Trust
You can also use the MT5 MetaTrader platform at FOREX.com which Oanda does not generally support. Still, Oanda was a close 2nd for trading forex and well worth considering especially if you prefer phone customer service. Forex fees and commissions generally come in the form of the bid/offer or dealing spread.
Therefore, you will start with a small loss with LimeFx and Oanda. Most alarmingly, some financial assets charge you to hold on to the asset overnight or over the weekend. Some commodities and stocks you are using leverage on may have overnight charges. Please check your fees with LimeFx and Oanda before you invest because you must know what you are paying. The LimeFx trading platform has 0 stocks listed
while Oanda has 0 stocks listed.
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A minute can equal an eternity in a marketplace that deals in the trillions on a daily basis. 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. Oanda wins big points for the platform’s transparent pricing and efforts to minimize risk by offering micro lots and flexible pricing models (broker-spread versus raw-spread+commission).
Both brokers also have really good client support systems in place. Oanda’s support team is available 24/6 while LimeFx’s is available 24/5. When it comes to trading tools, LimeFx has more to offer than Oanda. In LimeFx’s app store, you can access various types of technical indicators, add-ons, and automated trading strategies (trading bots). We know what that’s like….and that’s why we’re giving you the bottom line at the top of this page. While both OANDA and LimeFx offer top-of-the-line services and excellent charting tools, we found safety of funds better at LimeFx, and appreciated their superior trade execution.
LimeFx and Oanda should by law keep client funds separate from LimeFx and Oanda funds. If either LimeFx or Oanda goes bankrupt, they should not have access to your money. A financial services compensation scheme differs from country to country, so check this on the LimeFx and Oanda websites and regulators.
LimeFx or Oanda who is better?
The information used on comparebrokers.co was updated directly from the IC Markets website. The information used on comparebrokers.co was updated directly from the Oanda website. The information used on comparebrokers.co was updated directly from the LimeFx website. This is not even close – LimeFx wins by far with 219 tradable shares versus OANDAs 0. Both brokers provided us evenly matched metals, energies, and softs. When choosing a broker, the most important detail is to check the broker has is regulated in the country you are resident to.So if you are in Australia, it is best the broker has ASIC regulation.
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. LimeFx also wins when it comes to trading tools available and the multiple trading platforms their traders can access. Unfortunately, at the moment, Oanda only has its proprietary platform and MT4.
