LimeFx Vs Oanda Compare Trustworthiness, Capabilities, Fees and Legitimacy
In this article, we’ll dive into a head-to-head comparison of these brokers, examining their features, services, and overall performance. Whether you’re a seasoned trader or just starting out, join us as we explore the strengths and weaknesses of Oanda and LimeFx to help you make an informed decision for your trading endeavors. There is an obvious advantage for LimeFx for offering at least 4 different trading platforms to its traders, while OANDA’s offer is limited to MT4 and proprietary platform. Yes, LimeFx and Oanda both offer beginner traders education, research, and quality trading tools. LimeFx takes the lead in this category, as it features Capitalise AI, a code-free service to automate trading strategies, and broader support for copy and social trading. Both Oanda and LimeFx offer different types of trading platforms, providing their traders, for example, with mobile apps for trading on the go.
Compare LimeFx Vs OANDA: Which is the Better Forex Broker in 2024?
When comparing tier-3 licenses OANDA is British Virgin Islands (FSC Authorised), while LimeFx is none.. Neither have Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised), Cayman Islands (CIMA Authorised), Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised). While both brokers are doing great in terms of their traders’ safety, we have to say that in this case, Oanda takes the crown – mainly because it is regulated by more entities compared to LimeFx. The range of trading instruments offered by OANDA and LimeFx is slightly different, as OANDA offers Bonds and Spread betting option (which are not present in LimeFx’s offer), while LimeFx is focused on Shares and ETFs.
Withdrawal and Deposit Methods
As far as pricing goes and which of the Forex trading providers does better in this regard, there are a few things that you should take into account. We’ve compared more than 100 variables and features so you can see the pros and cons of LimeFx and Oanda side by side. 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.
What can I trade with each broker?
- Oanda stands out by offering competitive spreads and waiving the requirement for a minimum deposit, enhancing accessibility for traders across various experience levels.
- Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we’ve determined that, overall, OANDA ranks more highly than LimeFx.
- LimeFx and OANDA have carefully constructed trading costs – the Cost Score between the two is a tie with scores of 6 each.
- Other factors, such as commission fees and account types, can also impact the overall cost.
- 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.
Oanda’s support team is available 24/6 while LimeFx’s is available 24/5. Also satisfactory was LimeFxs web trading platform; we appreciated that it is highly customisable and user-friendly. The platform offered us a wide range of order types and features a great search function. However, it lacks two-step authentication, which is limefx courses scam an essential security feature. It’s important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Both OANDA and LimeFx offer Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), PayPal (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw).
To open a trading account with OANDA, you’ll need to make an initial minimum deposit of $0. With so much experience under their belt, it’s no surprise that both online traders gathered quite a loyal network of customers, attracting both professional and beginner traders. 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.
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. Trust Score is a data-driven rating system that provides an at-a-glance rating of a broker’s overall trust by tracking 60+ brokers and over 100 regulatory jurisdictions across the globe. To make things clearer for everyday traders, we’ve created a five-tier system for regulators and Trust Score rating labels. Learn more about Trust Score, and check out our country guides to see the most trusted brokers in your country of residence.
The only downside with using OANDA is its comparatively small range of markets and industry-average spreads. 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. It is widely known that forex brokers offer other trading instruments other than currency pairs.
Forex traders also appreciate the ability to engage in social copy trading. Oanda is an international Forex broker founded in 1996 with headquarters in the United States. Oanda specialises exclusively in currency trading solutions for all trader levels. Their greatest selling points are https://limefx.biz/ their strong regulatory framework and robust proprietary platforms. Spread betting with LimeFx is available for UK residents and provides a tax-efficient way to trade. For more details on spread betting, you can check out this comprehensive guide for the best spread betting brokers.
OANDA offers a slightly more versatile range of funding options, including PayPal, making it more convenient for a broader spectrum of traders. 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.
Also, Islamic Account is meant for traders following Sharia laws with suited conditions and applicable laws available. 74.74% of retail investor accounts lose money when trading CFDs with LimeFx. LimeFx’s in-house education is above average, primarily consisting of articles, videos, and content produced for its YouTube channel. The learning centre offers us two comprehensive guides and a vast library of nearly 200 articles covering topics such as trading tips, strategies, charting, and indicators. LimeFx also offers a selection of articles broken down by experience level, catering to beginner, intermediate, and advanced traders.
Having said that, if you use cards or Trustly as your payment option, both channels require at least $25 or equivalent. We consider both brokers a toss-up with commodities as they have virtually equal offerings. Oanda gave us the edge to choose more bonds and treasuries, which we really liked. On the subject of leverage, it helps if you can reduce the risk of slippage; for this reason, execution speed can make a difference. We tested the execution speed of LimeFx and found they have an average execution speed of 108 ms for Limit Orders and 123 ms for Market Orders.
