Compare OANDA Vs LimeFx: Which is the Better Forex Broker in 2024?

Oanda operates as a market maker broker, meaning it acts as the counterparty to its clients’ trades. This setup may involve a potential conflict of interest, as the broker’s profitability can be influenced by clients’ losses. On the other hand, LimeFx operates primarily as a no dealing desk (NDD) broker, routing clients’ orders to liquidity providers and avoiding direct involvement in the trades.

Fees on Cryptocurrencies

To support their clients, OANDA enables trading with FxTrade App, MetaTrader 5, Oanda Platform, MetaTrader 4. In comparison, LimeFx provides trading with MetaTrader 4 (Limited with 30 days), Trading Station II (Limited with 30 days), MirrorTrader, NinjaTrader with the support of One-click trading, Trailing stop, Pending orders. This website does not provide investment advice, nor is it an offer or solicitation of any kind to buy or sell any investment products. Rates and terms set on third-party websites are subject to change without notice. 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.

Is LimeFx or OANDA better in providing the trading instruments?

The first model is a ‘spread only’ account where traders pay just the spread and no commission. LimeFx and Oanda offer daily market commentaries and frequent webinars to assist and educate their traders. Both brokers also have really good client support systems in place.

Oanda vs LimeFx data on TradingView

Oanda offers an exceptionally low minimum deposit requirement, starting at just $1 across all account types. This affordability makes it highly accessible to beginners and traders with limited initial capital. Conversely, LimeFx has a higher minimum deposit requirement, with the Standard account requiring a minimum deposit of £300 (or equivalent), while the Active Trader account necessitates a minimum deposit of £25,000. Traders with a smaller budget or those who prefer to test the broker’s services before committing more funds may find Oanda’s lower minimum deposit more appealing. Oanda and LimeFx both offer social trading features, allowing traders to benefit from the wisdom of the crowd and follow successful strategies. Oanda has partnered with TradingView, a popular social network for traders, enabling users to share ideas, strategies, and signals.

They also have quite an extensive collection of educational tools, which can be especially beneficial for beginning traders. Both Oanda and LimeFx are forex brokers that have been in the online trading business for decades limefx scammers now. In fact, Oanda’s first live data feed went live in 1997, while their trading platform was launched in 2001 – as they say, they were the first company to provide exchange rate information over the web.

What’s the difference between LimeFx, OANDA, Forex.com and ICE?

We’ve researched each broker’s individual offering of investments to help you pick the right broker for what you want to trade. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. These both accounts are based on spread and are Standard and Premium account with better costs.

Our independent database powered by our unbiased research will help you compare OANDA vs LimeFx side-by-side. Looking at the average spreads among the key Forex pairs, we have to say that Oanda is more competitive compared to LimeFx. 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.

For the trading platform, MetaTrader 4 is the standard choice for every trader. But if you want to have a different experience with a more advanced platform, choose the broker that provides alternative platforms. The same goes for trading instruments; if you want to try delving into different markets, seek for a broker with more options on trading instruments. While both brokers offer a diverse range of trading instruments, LimeFx has a broader selection compared to Oanda in terms of the number of tradeable symbols. LimeFx provides access to 440 symbols, including 41 forex pairs and 399 CFDs on indices, commodities, metals, cryptocurrencies, and shares. On the other hand, Oanda offers 124 symbols, encompassing 71 forex pairs and 53 CFDs on indices, commodities, metals, and bonds.

1. LimeFx is considered Highly Trusted, with an overall Trust Score of 95 out of 99.
2. Their greatest selling points are their strong regulatory framework and robust proprietary platforms.
3. 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.
4. With the trading platform TradingStationWeb LimeFx offers a browser-based platform, but customers can also choose a desktop version or MetaTrader 4.
5. Based on our research on the regulatory status of over 60 brokers, we’ve found that OANDA holds 7 global Tier-1 licenses, while LimeFx holds 4.
6. We elected to focus our comparison on the no-commission account since the is the most popular option retail traders are likely to use, which we assume our readers will be.

In our analysis of 23 international regulators across 62 of the best forex brokers, OANDA is considered Highly Trusted, with an overall Trust Score of 93 out of 99. LimeFx is considered Highly Trusted, with an overall Trust Score of 95 out of 99. Compare Oanda and LimeFx in this detailed breakdown of their platforms, features and fees. LimeFx is a global brokerage headquartered https://limefx.club/ in the U.K that specialises in both retail and institutional trading with a comprehensive API offering. TradingBrokers.com is for informational purposes only and not intended for distribution or use by any person where it would be contrary to local law or regulation. We do not provide financial advice, offer or make solicitation of any investments.

However, LimeFx also offers a dealing desk (DD) option for certain products, giving the broker more control over pricing and execution. OANDA vs LimeFx provide quite similar trading conditions both offering tight and low spreads and all strategies allowed suitable for all type of traders beginners, advanced or professional traders. Both brokers offer better trading conditions for traders with large trading accounts or those (LimeFx traders) who maintain a certain minimum monthly trading volume.

For example, our tests suggest OANDA is a better choice than LimeFx for AUD/USD (far superior) and USD/CAD currency pairs. Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site. After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we’ve determined that LimeFx (95) earned a higher Trust Score than OANDA (93). For MetaTrader OANDA provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while LimeFx provides MetaTrader 4 (MT4). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers. All in all, the two brokers are a solid choice regardless of which one you decide to go with.

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. Like LimeFx, OANDA has a commission account called their Cores spread account, and it is available in Australia, Singapore and the US.