OANDA vs LimeFX Compared Who is Better Broker 2024
If you can overlook the somewhat scattershot organization of Oanda’s educational tools, overall you will limefx official site find a comprehensive suite of resources from which to do your own research. Oanda narrowly edges out LimeFX in this category based on the number of Tier-1 (most trusted) operating licenses the broker has obtained. Unfortunately, recent LimeFX users give both the iOS/Apple and Android apps poor reviews over the last few months. Our automated aggregation service scans hundreds of media sources, as well as blogs and social networks, to deliver live and objective news coverage without editorial control.
LimeFX Platforms Available 👨💻
Earn an exclusive badge next to your name, get custom resolutions for symbols, and start trading directly from TradingView with LimeFX integration – making it smoother. All information on 55brokers.com is only published for general information purposes. We do not present any investment advice or guarantees for the accuracy and reliability of the information. OANDA requires a minimum deposit of $0 before you can open an account and start trading. To open a trading account with LimeFX, you’ll need to make an initial minimum deposit of Starts from $50.
Trading Instruments
- The FCA , by which LimeFX is regulated, requires LimeFX to ensure a clear segregation between money belonging to retail clients and money that belongs to itself.
- Therefore, while OANDA may have lower spreads, this does not necessarily mean it is the cheaper option overall.
- If you can overlook the somewhat scattershot organization of Oanda’s educational tools, overall you will find a comprehensive suite of resources from which to do your own research.
- To verify the availability of any features within your country of residence, please contact the broker directly.
DayTrading.com may receive compensation from the brands or services mentioned on this website. Similar to OANDA, LimeFX provides a variety of funding options such as credit/debit cards and e-wallets. However, OANDA stands out by offering a more extensive selection of e-payment methods. LimeFX operates under the stringent oversight of regulatory authorities in the UK, Australia, and several other international jurisdictions, which facilitates their global service offerings.
LimeFX Customer Service and Support 📞
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 limefx review because the matching algorithm always displays the best bid and ask prices from a multitude of different liquidity providers). A notable difference between LimeFX and Oanda is that clients of LimeFX have segregated trading accounts while clients of Oanda do not. The FCA , by which LimeFX is regulated, requires LimeFX to ensure a clear segregation between money belonging to retail clients and money that belongs to itself. The funds are kept safe by top global banks and cannot be used to reimburse creditors in the unlikely case of LimeFX going bankrupt or insolvent.
Its regulatory track record is strong, and its support for third-party features bolsters its overall offering. OANDA is better suited for beginner traders due to its lower minimum deposit and more straightforward account features. OANDA offers a slightly more versatile range of funding options, including PayPal, making it more convenient for a broader spectrum of traders.
So Is OANDA or LimeFX The Best Broker?
A major difference, however, is that traders from the United States are not eligible to apply for a live trading account with LimeFX, while Oanda’s services are available to U.S. residents. OANDA provides traders 68 currency pairs (e.g., EUR/USD) compared to LimeFX’s 43 available pairs. In Australia, LimeFX doesn’t have this type of account, but they do have such an account for their clients in the UK, and it’s called their active trader account. This account has tiered commissions and is best for high-volume traders. The below table shows our test results for the no commission, standard account spreads for each broker. Our findings show that LimeFX averaged 1.47 pips over the 6 tested pairs, which equates to a cost of $13.49 per lot.
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. Of course, as you might expect, LimeFX got themselves a new CEO stat after the big 2017 shakedown.