LimeFx Group vs OANDA 2023
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 https://limefx.name/ currency pairs. All in all, the two brokers are a solid choice regardless of which one you decide to go with. And if you want to learn more about either of them, check out our more detailed LimeFx and Oanda reviews.
- From the most recent user reviews for each app, it appears the company is in the midst of a number of app updates.
- You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
- We do not present any investment advice or guarantees for the accuracy and reliability of the information.
LimeFxs desktop version stood out more because of their Trading Station. For us, one of its main highlights is the Marketscope 2.0 charting tool, offering powerful charting capabilities that run parallel to the main platform window. Trading Station is a strong competitor to MetaTrader and features complex back-testing options, such as accounting for potential historical slippage and trading costs. A market maker facilitates the process required to provide liquidity for trading pairs on centralized exchanges. In the forex industry, market makers often have a bad reputation because some brokers display worse bid/ask prices than ECN brokers.
Overall, customer surveys indicate LimeFx is more responsive to trader needs and more professional in how inquiries are handled. There is also a plugin traders can use to integrate with their own MT4 platform as desired. Unfortunately, LimeFx gets some points deducted for the recent performance of their apps. From the most recent user reviews for each app, it appears the company is in the midst of a number of app updates.
Compare OANDA Vs LimeFx: Which is the Better Forex Broker in 2023?
Both LimeFx and Oanda offer discount options for active or VIP traders. But then again, Oanda requires an initial minimum of just $50 to fund a live trading account, while LimeFx requires a $300 minimum to fund the same. Each trader comes to the forex marketplace with their own individual needs, limefx company reviews preferences and goals. All reviews, research, news and assessments of any kind on The Tokenist are compiled using a strict editorial review process by our editorial team. Neither our writers nor our editors receive direct compensation of any kind to publish information on tokenist.com.
The overall choice is superior at LimeFx, 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 LimeFx suite of tools for algorithmic trading solutions. Oanda maintains its proprietary trading platform and the MT4 trading platform. Oanda’s award-winning platforms offer traders excellent execution, trader analysis and advanced charting, as well as a wide range of technical analysis tools. In addition to Oanda’s web, desktop and mobile platforms, you can download the free MT4 platform with all of its advanced features and expert advisor (EA) automation capabilities.
Compare OANDA vs LimeFx Side by Side
Hedging in finance means being able to trade to protect yourself from huge risks by limiting risk using diversification. Hedging can be done, for example, by speculating on a stock to rise and against it to rise by using different amounts or different amounts of leverage. We compare LimeFx Vs Oanda financial regulation and licensing side by side below.
The platform offered us a wide range of order types, and features a great search function. However, it lacks two-step authentication, which is an essential security feature. On the other hand, LimeFx flipped the score by offering 7 cryptocurrencies versus OANDAs 4. In today’s markets, we find the more cryptos to trade the better because there is growing demand for crypto trading. Like LimeFx, OANDA has a commission account called their Cores spread account and it is available in Australia, Singapore and the US. This account has a fixed rather than a tiered commission for each lot, this being $7.00 per lot which in our experience is the standard amount most brokers charge.
OANDA vs LimeFx
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. At ForexBrokers.com, we track over 100 international regulatory agencies to help you choose the most well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we’ve found that FOREX.com holds 7 global Tier-1 licenses, while LimeFx holds 4. LimeFx holds 2 global Tier-2 licenses, while FOREX.com holds 1. 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 Group holds 4.
Typical Spreads and Fees
OANDA is an award-winning global broker, established in 1996. The hugely respected brand offers competitive trading accounts and serves clients from 196 countries. It has proven a popular option with both beginners and experienced traders thanks to its user-friendly and sophisticated web platform, no minimum deposit and premium currency products and services. The company is also overseen by reputable regulators, including the FCA, ASIC and CIRO.
If you choose to invest in cryptocurrencies, allocating only a fraction of your portfolio or trading budget to it is essential. Crypto trading with LimeFx or Oanda could lead to one of the most exciting trades you’ve ever made, depending on the market. Please remember that cryptocurrency availability on LimeFx, Oanda, and all brokers are subject to regulation. Regulation alongside currency availability is important when deciding upon a broker.
LimeFx also offers a paid programming service to clients interested in automating their trading strategies. 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.
It is good to have a diverse portfolio and the options available to a user will always vary. Trading is all about grasping potential opportunities
and you seriously do not want to miss out on a trading opportunity due to the limitations of LimeFx or Oanda. For traders who want to use their own or another outside trading platform, LimeFx now offers this extra perk as well.
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. Looking at the average spreads among the key Forex pairs, we have to say that Oanda is more competitive compared to LimeFx.