Mobile trading, order execution with a single click, and trading based on real-time charts are some of the benefits available to customers. LimeFx also provides instructional seminars on foreign exchange trading, in addition to trading tools, exclusive data, and premium resources. LimeFx offers more security to traders and has a much higher trust score than OANDA overall.
LimeFx and Oanda do not offer clients negative balance protection. Hedging means not speculating solely on
the outcome of one event, as holding all your assets in one place could be risky. Hedging in finance means being able to trade limefx scammers 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.
For the EUR/USD pair, LimeFx has an average spread of 1.3, while OANDA has a slightly lower spread of 1.2. This trend continues across the other forex pairs, with OANDA consistently offering slightly lower spreads than LimeFx. Some forex traders prefer to trade through market makers, while others prefer to trade through intermediary brokers. Personal preference aside, the important https://limefx.club/ takeaway here is that there is no one “right” or “wrong” choice of where to trade forex. 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. Looking at the average spreads among the key Forex pairs, we have to say that Oanda is more competitive compared to LimeFx.
- 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.
- Checking whether LimeFx and Oanda are regulated is not a hard task.
- Without this, you cannot take advantage of every situation that may or may not occur in the financial markets.
You ideally want to choose a broker like LimeFx or Oanda that does not charge too much for withdrawal fees. High trading fees and commissions will eat into your profits. The fees will be noticeable if you have a low budget and do not intend to invest so much with LimeFx or Oanda. You want the withdrawal fee to be less than one per cent of what you are withdrawing but, more ideally, $5 to $10. In his role, David works with a team of writers to develop content for the site, this includes planning future content and editing and proofing existing works. David also has deep knowledge of the Forex industry and spends substantial time fact-checking the accuracy of the information about the brokers for the website.
Your Trading Costs and Fees
FOREX.com holds 1 global Tier-2 licenses, while OANDA holds 0. Both brokers offer intuitive, easy-to-learn and use proprietary trading platforms. You can also download and use the MT4/5 platforms on FOREX.com and the MT4 platform on Oanda. 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.
- Be aware that depending on your payment method, there may be additional processing fees from your payment provider or bank for processing and converting your funds.
- Find out which of these world-class online brokers best fits your needs.
- Finally, we found OANDA to provide better mobile trading apps.
- Oanda maintains its proprietary trading platform and the MT4 trading platform.
- A major difference, however, is that traders from the United States are not eligible to apply for a live trading account with LimeFx, while Oanda’s services are available to U.S. residents.
To achieve this, your best bet is to use some sort of automation which is possible with both brokers. The below table shows our test results for the no commission accounts with each broker. Our findings show that LimeFx averaged 1.47 pips over the 6 tested pairs which equates to a cost of $13.49 per lot.
Which trading platform is better: FOREX.com or OANDA?
OANDA is no slouch with 68 forex pairs, and we note that as a positive. But again, we feel that brokers today need to offer shares trading. Looking at the average standard account spreads for the forex pairs, we can see some interesting patterns.
What FOREX.com Offers
LimeFx is the overall winner based on its pricing, trading platforms, resources, and range of instruments offered. In addition, LimeFx also has a much higher trust score than OANDA, which means that more traders trust it as their connection to the financial markets. To compare the trading platforms of both FOREX.com and LimeFx, we tested each broker’s trading tools, research capabilities, and mobile apps. To compare the trading platforms of both LimeFx and OANDA, we tested each broker’s trading tools, research capabilities, and mobile apps. Not every broker publishes average spread data, and pricing structures vary.
LimeFx or Oanda who is better?
No commission account spread propiety testing data and published wesbite spread information, centralised on our standard account spread page.. 42 forex pairs, 219 tradable shares, and 7 cryptocurrencies all contributed to making our registration and trading quite pleasant. LimeFx supports various deposit and withdrawal methods, including credit/debit cards, bank transfers, and electronic wallets such as PayPal and Skrill. They did not charge us for deposits or credit/debit card withdrawals.
Oanda is regulated by Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC) and have been in business since 1996. Oanda is most definitely not a con as they are regulated by major financial regulators. LimeFx is regulated by Financial Conduct Authority (FCA) and have been in business since 1999. LimeFx is most definitely not a con as they are regulated by major financial regulators. If you are still looking for an alternative to LimeFx and Oanda and want to see how LimeFx or Oanda compares Vs other brokers check out the LimeFx Vs and Oanda Vs list below.
LimeFx requires a minimum deposit of 1, whereas Oanda mandates a minimum deposit of 1. It’s advisable not to be deterred by a broker’s higher minimum deposit, whether it’s LimeFx or Oanda, and instead focus on the comprehensive trading features offered by their platform. Frequently, a higher minimum deposit provides access to a wider range of financial assets and research tools on the trading platform. Overall, FOREX.com has slightly better dealing spreads, more currency pairs and an ECN account type, while Oanda is a market maker with no ECN option.
Customer Service and Support 📱
With zero commissions, over 400 assets, and a range of analysis tools, LimeFx is a popular choice. The broker is also FCA regulated and authorized in Australia and South Africa. To compare the two brokers, we used their ‘spread only’ accounts and we found that their spreads were about the same. 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. LimeFx and Oanda offer daily market commentaries and frequent webinars to assist and educate their traders.
The saying ‘Variety is the spice of life’ holds for financial markets. It is always advisable to have a diversified investment portfolio whether trading with LimeFx or Oanda. A diversified portfolio with LimeFx or Oanda can safeguard your investments from significant downturns in any particular market. LimeFx offers a minimum deposit of 1 while Oanda have a 1 minimum deposit. Our Comparebrokers.co team has painstakingly spent months assessing different brokers accounts. To simplify things, we analyzed everything for you and provide the main points in relevant blocks on this page.
When trading with either LimeFx or Oanda you will want to understand and make full use of all the
risk management features on your LimeFx or Oanda trading platforms. Regulation alongside currency availability is important when deciding upon a broker. It is very important when selecting a broker like the LimeFx platform or Oanda that they are regulated. To finish off our comparison, let’s look at the popular tools and features traders prefer side by side. LimeFxs in-house education is above average, primarily consisting of articles, videos, and content produced for its YouTube channel.