Lime Fx vs OANDA

For traders who want to use their own or another outside trading platform, Lime Fx now offers this extra perk as well. And for big ticket forex traders, Lime Fx makes its virtual private server (VPS) network available gratis. By 2018, Lime Fx was under new ownership with a new global CEO, longtime company executive Brendan Callan.

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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). 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. When it comes to trading tools, Lime Fx has more to offer than Oanda. In Lime Fx’s app store, you can access various types of technical indicators, add-ons, and automated trading strategies (trading bots).

Lime Fx vs Oanda: Comparison and Analysis

Margin requirements are based on the leverage allowed by regulators in a jurisdiction. Lime Fx is a reliable and competitive online broker, particularly for forex and CFD traders. With its advanced trading platform, educational resources, and strong regulatory framework.

• 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.
• Your trade will be executed when the financial asset hits a set price.
• If you are an active trader, it is better to choose a broker with a variable spread that is generally lower than the fixed one.
• Ask any gathering of retail forex traders what they most prize in an online broker platform and you will soon discover no two answers are exactly alike.
• Its regulatory track record is strong, and its support for third-party features bolsters its overall offering.

Considering that spread is a trading cost, the lower the spread, the better it is for traders. However, spread information among brokers is not easy to get, as not every broker transparently publishes their spreads data. The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe.

• On the subject of leverage, it helps if you can reduce the risk of slippage; for this reason, execution speed can make a difference.
• Active traders may benefit from tighter spreads on certain account types, and Lime Fx charges no commissions on standard accounts.
• STP is a non-dealing desk trading method aimed mainly at Forex traders.
• For people with next to no knowledge of trading, we recommend fully signing up with an Lime Fx and Oanda demo account.
• Both brokers provide excellent customer support and competitive fees, making either a solid option for forex traders.
• If you use Microsoft Windows tablets or phones, you must also check if Lime Fx and Oanda have trading apps compatible with your device.
• Through webinars, tutorials, and written content, Oanda facilitates a comprehensive learning environment, enabling traders to enhance their market knowledge and trading proficiency.

Customer Support

Lime Fx, on the other hand, is regulated by two Tier 1 entities – the Australian Securities and Investment Commission and the Financial Conduct Authority. Yes, Oanda is regulated by the CFTC and NFA in the U.S., making it a trusted choice for American traders. Lime Fx is not regulated in the U.S. but has solid global oversight through multiple Tier-1 regulators. Both brokers offer strong research and educational tools, though Oanda has a slight edge in market research.

The CompareForexBrokers team wanted to see how the two brokers compared when it came 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. One of the key points of distinction is that OANDA is known for its strong compliance culture and its transparency regarding pricing and execution. The company also offers negative balance protection in limefx reviews many jurisdictions, adding an extra layer of safety for traders. Customer service and support 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.

Best Brokerage Account for ETFs

While Lime Fx may have a slight edge in terms of offering more varied educational tools, both brokers ensure that their clients have access to the help they need to succeed in the markets. Both Oanda and Lime Fx are forex brokers that have been in the online trading business for decades 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.

Which broker has better research tools?

Lime Fx offers its proprietary limefx scammers Trading Station platform, MetaTrader 4, and TradingView. These platforms support algorithmic trading and provide advanced charting tools. Based on this data, I would argue that OANDA is the cheaper option in terms of spreads. However, it’s important to remember that spreads are just one aspect of the cost of trading. Other factors, such as commission fees and account types, can also impact the overall cost.

As you may have seen in this table, you can trade 5 different cryptocurrency CFDs with Lime Fx. They are bitcoin, ether (ethereum), ripple, litecoin, and bitcoin cash. Although Lime Fx has fewer instruments than Oanda, it has a very good variety. He has Finance degree at Monash University and is an investor in shares and equities and successfully started and sold the online business Hearing Choices. When choosing a broker, the most important detail is to check the broker is regulated in the country you are resident in. So, if you are in Australia, it is best the broker has ASIC regulation.