While LimeFx offers trading in a few popular cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Ripple CFDs, Oanda currently does not support cryptocurrency trading. If cryptocurrency trading is a priority, LimeFx would be your preferred choice. Oanda is regulated by several reputable organizations, such as the FCA in the UK, the Commodity Futures Trading Commission (CFTC) in the US, and the ASIC in Australia.
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. The options can be overwhelming if you’re looking for a broker to meet your needs. Don’t worry – both of these companies have significant aspects to offer. You’ll need to analyze what platform or products are right for you before deciding which is best suited. Once you’ve made up your mind, rest assured that both brokers provide excellent service – whichever route you choose won’t disappoint. With access to more than currency pairs from 25 central bank exchanges worldwide, it’s no wonder why LimeFx’s services have become a gold standard in corporate FX solutions.
- LimeFx offers trading tournaments where users can compete for cash prizes on demo accounts without having to risk their own money.
- There is also a plugin traders can use to integrate with their own MT4 platform as desired.
- For the EUR/USD pair, LimeFx has an average spread of 1.3, while OANDA has a slightly lower spread of 1.2.
- This comes down to personal choice, When comparing LimeFx vs. Oanda on trading platforms, we’ll call it a draw.
- In this module, we will explore the pros and cons of Oanda for a trader looking to open an account, as well as the regulatory information pertaining to this broker.
- 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.
The broker also provides a spread-betting account with tax-free benefits for UK and Ireland residents. Traders with no trading activity for over 12 months are charged $50 a year for inactivity. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
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. They have dedicated teams in multiple regions to ensure customer support can be provided in the trader’s native language. Plus, there are plenty of self-service resources via their websites, e.g., FAQs and tutorials.
Overview of LimeFx Broker & Oanda Broker
User’s have complained about this cost, with one trader saying, “The overnight fees are ridiculous high and not fair.”Oanda also charges users a fee for inactive accounts. This broker’s inactivity fee similarly kicks in if there’s no trading activity over a 12-month period. On the other hand, Oanda ensures traders have access to a wealth of educational resources. Through webinars, tutorials, and written content, Oanda facilitates a comprehensive learning environment, enabling traders to enhance their market knowledge and trading proficiency. The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. Forex traders also appreciate the ability to engage in social copy trading.
Education and Client Support
Online brokers generally offer users the option not only to trade on their native platforms but also outside systems. On LimeFx, users should be aware that while there are no fees for withdrawals via credit card or debit card, the broker does charge a $40 withdrawal fee for all bank wire requests. This broker also charges an inactivity fee if there limefx official site are no trades executed over a 12-month period. That fee is up to 50 units of the currency in which you’re trading. Also, it helps to know that the minimum amount to open an account on LimeFx is $50. 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.
Personal preference aside, the important takeaway here is that there is no one “right” or “wrong” choice of where to trade forex. By 2018, LimeFx was under new ownership with a new global CEO, longtime company executive Brendan Callan. Charging forward, LimeFx proceeded to add cryptocurrency baskets for retail traders along with a host of new targeted offerings for its B2B and data division clients. You can unlock the full potential of your forex trading with FX Blue Labs. Access 15+ indicators and nine Expert Advisors (EA) in one download – all for free only when you trade on OANDA MT4 or MT5.
This powerful platform boasts advanced tools, deeper market insights, and improved charting capabilities – perfect for traders looking to level up their strategy. Twenty-five years later, you can trade various financial products and crypto-currencies across multiple countries on the platform. The award-winning platform offers rapid execution with cutting-edge tools, state-of-the-art charting packages, leading indicators, and drawing features from TradingView. LimeFx and Oanda are two prominent forex brokers who have been in the online trading business for many years. Oanda’s first data feed went live in 1997, while LimeFx was founded shortly thereafter in 1999. Oanda also lets you trade cryptocurrencies like bitcoin or Ethereum via CFDs on the Oanda mobile app or its platform.
Oanda offers access to over 70 forex trading pairs, including major and minor currency pairs. Users can choose to trade them on the OANDA trade platform or MT4. Margin requirements are based on the leverage allowed by regulators in a jurisdiction. When it comes to choosing an online broker for forex and CFD trading, LimeFx and Oanda are two well-established and reputable options for traders to consider. Both brokers have a strong global presence and are regulated by multiple financial authorities, ensuring the safety and security of traders’ funds. In this comparison, we will delve into the key features, pros, and cons of each broker to help you make an informed decision on which platform best suits your trading needs and preferences.
Pros and Cons: Oanda vs. LimeFx 📝
However, its limited product offerings and lack of cryptocurrency trading may not cater to all traders’ needs. Oanda offers a broad range of trading instruments, including Forex, commodities, indices, spread betting, futures, and bonds, giving traders access to various asset classes. LimeFx also provides an extensive selection of trading instruments, https://limefx.group/ covering Forex, indices, commodities, cryptocurrencies, and spread betting, offering a comprehensive choice of markets to trade. To compare the trading platforms of both OANDA and LimeFx, we tested each broker’s trading tools, research capabilities, and mobile apps. When it comes to customer service, both OANDA and LimeFx have their merits.
LimeFx is behind Trading Station, an early trading platform that gave traders direct access to the forex market. LimeFx is a forex, CFD, equities, precious metals and crypto broker with over 20 years of experience. Through a partnership with Jefferies Group, LimeFx offers a professional trading service for financial institutions and sophisticated traders. LimeFx operates in a dual capacity, functioning both as a Market Maker and an STP Broker.
OANDA: Lower Minimum Deposit
With access to over 40 FX currency pairs and other popular instruments, LimeFx caters to a broad audience of traders. However, its product range may be somewhat limited compared to a few other brokers in the industry. Oanda boasts an impressive suite of research tools, including an economic calendar, advanced charting, market news, and technical analysis powered by Autochartist.
The author is not a financial advisor and lacks relevant certifications in that regard. Similar to OANDA, LimeFx provides a variety of funding options such as credit/debit cards and e-wallets. However, OANDA stands out by offering a more extensive selection of e-payment methods. LimeFx operates under the stringent oversight of regulatory authorities in the UK, Australia, and several other international jurisdictions, which facilitates their global service offerings. LimeFx requires a minimum deposit of Starts from $50 before you can open an account and start trading. To open a trading account with OANDA, you’ll need to make an initial minimum deposit of $0.
74.74% of retail investor accounts lose money when trading CFDs with LimeFx. 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 trading and offers a range of crypto CFDs to choose from. These apps provide access to the same features as the web-based platform and are ideal on the go. MT4 on Oanda offers tailored layouts, plug-ins and an easy-to-navigate interface. LimeFx supports trading on TradingView Pro, Trading Station, ZuluTrade and MetaTrader 4.