For more options, you can explore this list of the best forex social trading platforms. LimeFx and OANDA have carefully constructed trading costs – the Cost Score between the two is a tie with scores of 6 each. 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.
Oanda vs LimeFx data on TradingView
When trading with LimeFx and OANDA, you can trust that your personal and financial information is handled securely. Their powerful servers are protected by advanced encryption technology and firewalls to prevent unauthorized access. In addition to security measures, both companies have earned prestigious recognition from multiple trusted agencies worldwide—including the US CFTC & NFA, UK FCA, and Australia’s ASIC. OANDA helps you get ahead of the market trends with automated chart pattern recognition and quality indicators.
- OANDA offers a slightly more versatile range of funding options, including PayPal, making it more convenient for a broader spectrum of traders.
- LimeFx and OANDA are both market-maker brokers with identical leverage offerings.
- Each subsidiary provides different products via different platforms, so clients will experience OANDA differently depending on their country of residence.
- Because LimeFx places such a focus on combining value-added services and resources, experienced traders benefit the most from the company’s efforts in this area.
- This broker offers a trio of APIs (fix, java and forex) that connect directly to its server.
OANDA: Superior Accounts And Features
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. Founded in 1996, OANDA is a long-standing, highly trusted broker licensed in an impressive seven Tier-1 regulatory jurisdictions. The OANDA Trade platform is available for web, desktop, and mobile. Though the desktop platform is good – not great – the mobile app is easy to use and boasts a great balance of features.
Is OANDA or LimeFx safer for forex and CFDs trading?
The only downside with using OANDA is its comparatively small range of markets and industry-average spreads. However, there’s a trend sweeping the industry of zero-commission trading, leaving many trading platforms to make money from the spread between two instruments. To learn about a broker’s pricing model, it helps to examine the various charges for trading specific markets, as they tend to vary and can also get updated.
For example, during a typical trading day, their spreads on the EUR/USD were found to be in the region of 1.2 pips, which is quite decent. Both brokers use floating spreads, which means that their spreads vary frequently. We gave LimeFx and OANDA both a score of 8 as they are heavily regulated and hold positive reputations within the forex trading industry. We gave LimeFx a Trading Platform score of 7 and OANDA a 6 because of LimeFx’s Marketscope 2.0 charting tool. OANDA also supports the widely popular MetaTrader 4 (MT4) platform but has its own trading platform called OANDA Trade Web and OANDA Trade Mobile.
Popular Forex Reviews
Learn more about Trust Score, and check out our country guides to see the most trusted brokers in your country of residence. Thanks to CFDs, users can start small, use leverage, go short and choose from Trading Station, MT4 or the broker’s API feature. This broker offers similar options for commodities limefx trading and offers a range of crypto CFDs to choose from. The price that traders pay is the spread, which is the difference between the ask and the bid price of the security being traded. LimeFx is a forex, CFD, equities, precious metals and crypto broker with over 20 years of experience.
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). A trusted global brand, OANDA stands out for its reputation and quality market https://limefx.vip/ research. Its regulatory track record is strong, and its support for third-party features bolsters its overall offering. 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.
Whether it’s foreign exchange (forex), shares, bonds, commodities or cryptocurrencies. The rise of online brokers and mobile trading has been a major milestone that has helped to level the playing field for investors. Both brokers are competitive, but we really like LimeFx’s superior trading tools, segregated client accounts, and enhanced trade execution. 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 because the matching algorithm always displays the best bid and ask prices from a multitude of different liquidity providers).
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. OANDA offers a more flexible and accessible range of account types, especially for beginners and those looking for fixed commissions. 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 an essential security feature.
Through a partnership with Jefferies Group, LimeFx offers a professional trading service for financial institutions and sophisticated traders. The rise of the internet has paved the way for online brokers, which in turn have given individual investors the same access to global markets as institutional investors. Thanks to online brokers, traders have tools at the fingertips that can transform them from a novice into a pro. LimeFx vs OANDA both offer a singular account option, inclusive of Islamic accounts.
If you’re an Aussie trader, you might find this list of the best Australian Forex brokers useful for more options. LimeFx is the better choice for experienced traders, offering a superior trading platform and a wider range of products. By 2018, LimeFx was under new ownership with a new global CEO, longtime company executive Brendan Callan.