OANDA offers an impressive 431 drawing tools for in-depth analysis, while Lime Fx users have access to 10. Both allow trading directly from stock charts for seamless transactions. When organizing watch lists, Lime Fx offers 13 columns compared to OANDA’s 6, allowing for more detailed monitoring.
A notable difference between Lime Fx and Oanda is that clients of Lime Fx have segregated trading accounts while clients of Oanda do not. The FCA , by which Lime Fx is regulated, requires Lime Fx 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 Lime Fx going bankrupt or insolvent. While Oanda is a market maker, Lime Fx is an enhanced execution broker. What this boils down to is that Lime Fx is more likely to have better effective spreads than Oanda.
But if you’re looking for a range of platform options and slightly faster execution, FOREX.com could be the better fit. Our full comparison covers the most important trading factors, but key differences between OANDA and FOREX.com stand out. FOREX.com is considered a trustworthy broker that’s been around for a long time – since 1999 – with a huge global presence and multiple regulations. OANDA is equally an old broker in the US, with a name established in 1996. Learn how to refine accounting processes for cost savings without risking errors and omissions in financial reporting.
OANDA, on the other hand, is a bit more limited but still provides the essentials like credit/debit cards and wire transfers. Ensure your cloud-based system design is scalable with these strategies. Assess workloads, limefx reviews implement autoscaling, and design for modularity. Learn six ways to foster a culture of data-driven decision making with business process automation (BPA) in this informative and conversational article.
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. Oanda has argued that documents for funding must be compliant with regulations. Customers have said that they wish they could trade additional products on Oanda, such as futures markets. While Oanda doesn’t require a minimum deposit amount to open an account, you can’t deposit more than 50% of your net worth.
Explore strategies to manage client expectations and share your own experiences. Maximize SEO impact by choosing the right social media platforms with limited resources. Elevate your UX research with advanced data collection and analysis strategies for mid-career professionals. Learn how business process automation (BPA) can help you create personalized and consistent interactions with your customers across different platforms and devices. Learn how to keep customer service morale high amidst constant pressure from surging call volumes with effective team management strategies.
Trading Station is a strong competitor to MetaTrader and features complex back-testing options, such as accounting for potential historical slippage and trading costs. In Australia, Lime Fx 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.
- Learn key strategies to prevent data breaches in financial technology after an inadvertent team member error.
- Oanda stands out by offering competitive spreads and waiving the requirement for a minimum deposit, enhancing accessibility for traders across various experience levels.
- Both brokers have their strengths, and either could be a good fit depending on your specific needs.
- Similar to OANDA, Lime Fx provides a variety of funding options such as credit/debit cards and e-wallets.
Costs and Fees
Their greatest selling points are their strong regulatory framework and robust proprietary platforms. Lime Fx is also a solid choice, especially if you’re interested in social trading or plan to trade in large volumes. Both brokers have their strengths, and either could be a good fit depending on your specific needs. Customer service and support limefx scammers is a particularly big deal in the fast-moving, high-risk field of forex trading. A minute can equal an eternity in a marketplace that deals in the trillions on a daily basis.
Regulatory Comparison
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. Each trader comes to the forex marketplace with their own individual needs, preferences and goals. Our primary goal at The Tokenist is to simplify the word of financial decision-making, so that investing is not only easy – but also fun. In doing so, we often feature products or services from our partners.
No, third-party payments are not supported and violate the broker’s anti-money-laundering practices. If you’re basing your selection on security, neither of these two brokers has a spotless history. It doesn’t have the same baggage that Lime Fx is carrying from past scandals.
The overall choice is superior at Lime Fx, where traders may select between the retail-favorite MT4, its proprietary Trading Station, and the social trading market leader ZuluTrade. Enhancing the choice is the Lime Fx suite of tools for algorithmic trading solutions. Oanda maintains its proprietary trading platform and the MT4 trading platform.
Oanda offers a broad range of trading instruments, including Forex, commodities, indices, spread betting, futures, and bonds, giving traders access to various asset classes. Lime Fx also provides an extensive selection of trading instruments, covering Forex, indices, commodities, cryptocurrencies, and spread betting, offering a comprehensive choice of markets to trade. Oanda stands out by offering competitive spreads and waiving the requirement for a minimum deposit, enhancing accessibility for traders across various experience levels. Conversely, Lime Fx presents a wide spectrum of markets and instruments, paired with low floating spreads, to cater to a multitude of trading strategies. This flexibility makes Lime Fx an attractive option for both beginner and experienced traders alike. It is widely known that forex brokers offer other trading instruments other than currency pairs.
In today’s markets, we find the more cryptos to trade, the better because there is a growing demand for crypto trading. We gave Lime Fx and OANDA both a score of 8 as they are heavily regulated and hold positive reputations within the forex trading industry. OANDA offers a more flexible and accessible range of account types, especially for beginners and those looking for fixed commissions. OANDA also supports the widely popular MetaTrader 4 (MT4) platform but has its own trading platform called OANDA Trade Web and OANDA Trade Mobile. We thought the outstanding feature of the web version is that it comes with TradingView for advanced charting and a guaranteed stop loss, but we were disappointed it is not available for the web. In this review, we looked at how the Forex broker OANDA and Lime Fx compare.
Oanda is known for forex and CFD trading where it also offers access to cryptocurrencies like bitcoin and Ethereum. It offers a wide breadth of forex data services including an historical currency converter and a strong API feature. When choosing between Lime Fx and Oanda, two well-established Forex brokers, it’s important to evaluate their features, fees, platforms, and overall offerings. This review will help you determine which broker suits your trading needs best. Considering that spread is a trading cost, the lower the spread, the better it is for traders.
- 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.
- And all clients can now add CFD instruments to their trade portfolios.
- Withdrawal processing times depend on the payment processor, where Lime Fx offers more transparency, noting it processes requests within two business days.
- Oanda’s average spread is 1.4 versus Lime Fx’s average spread is 1.3.
These platforms support algorithmic trading and provide advanced charting tools. However, when we compare these spreads to the industry average, we find that both Lime Fx and OANDA are offering competitive rates. For example, the industry average spread for the EUR/USD pair is 1.2, which is higher than OANDA’s spread and only slightly lower than Lime Fx’s. This pattern is consistent across all the forex pairs we analysed. While Lime Fx offers syncability for watchlist symbols with its online account, allowing changes made in the app to reflect elsewhere, OANDA lacks this feature. Chart enthusiasts may favor Lime Fx, which offers nearly double the technical studies at 59, compared to OANDA’s 30.