If you’re itching to start trading, we can assist you in making a well-informed decision when comparing Lime Fx and Oanda. By comprehensively comparing Lime Fx and Oanda features and services, you can choose a trading platform that best suits your needs and preferences. We aim to equip you with the knowledge to make an educated decision and feel confident in your trading journey with Lime Fx, Oanda or an alternative broker. As well, both market makers and stp brokers provide a valuable service to the greater forex and trading marketplace. But they fulfill very different roles and thus their inherent business structure will reflect each company’s unique role and purpose.
- The rise of online brokers and mobile trading has been a major milestone that has helped to level the playing field for investors.
- Its regulatory track record is strong, and its support for third-party features bolsters its overall offering.
- Both brokers offer competitive spreads, but the exact numbers can vary based on the trading pair and market conditions.
- Oanda is a reputable online broker that offers a diverse range of trading instruments and a user-friendly trading platform.
- The reason for this is quite a simple one You need to be sure in the knowledge that your money is in a segregated bank account with a financially regulated broker.
The platform features competitive spreads, real-time market data, and sophisticated charting capabilities to aid in technical analysis. Available round-the-clock, OANDA empowers traders to capitalize on the volatility of the crypto market whenever they choose. OANDA is a reputable brokerage firm recognized worldwide for its expertise in trading forex, commodities, indices, and cryptocurrencies. Known for its commitment to transparency and adherence to regulatory standards, OANDA offers both retail and institutional investors access to a broad spectrum of global financial markets.
- Lime Fx’s in-house education is above average, primarily consisting of articles, videos, and content produced for its YouTube channel.
- Please see our reports on best UK brokers and Australian brokers.
- Lime Fx supports trading on TradingView Pro, Trading Station, ZuluTrade and MetaTrader 4.
- Oanda also has a lengthy operating history with 25 years under its belt.
- Looking at the average standard account spreads for the forex pairs, we can see some interesting patterns.
What’s a PIP in forex trading?
You’ll want to be mindful about leaving positions open overnight on Oanda. This broker charges a financing cost to users at the end of each trading day for open positions. It’s calculated on a per-position basis and encompasses an administrative fee as well as the interest differential of the trade.
For example, the industry average spread for the EUR/USD pair is 1.2, which is higher than OANDA’s spread and only slightly lower than Lime Fx’s. This pattern is consistent across all the forex pairs we analysed. Looking at the average standard account spreads for the forex pairs, we can see some interesting patterns. For the EUR/USD pair, Lime Fx has an average spread of 1.13, while OANDA has a slightly lower spread of 0.9. This trend continues across the other forex pairs, with OANDA consistently offering slightly lower spreads than Lime Fx.
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. Interestingly, our tests captured OANDA as having lower minimum spreads and lower average minimum spreads as well. To achieve this, your best bet is to use some sort of automation, which is possible with both brokers.
Account Details
Both Oanda and Lime Fx offer different types of trading platforms, providing their traders, for example, with mobile apps for trading on the go. They also have limefx scam quite an extensive collection of educational tools, which can be especially beneficial for beginning traders. When it comes to trading platforms, both Lime Fx and Oanda offer multiple options. This comes down to personal choice, When comparing Lime Fx vs. Oanda on trading platforms, we’ll call it a draw.
Fees & Commissions
Oanda also has a lengthy operating history with 25 years under its belt. Oanda is known for forex and CFD trading where it also offers access to cryptocurrencies like bitcoin and Ethereum. It offers a wide breadth of forex data services including an historical currency converter and a strong API feature.
FxScouts Group’s primary mission to provide unbiased and objective reviews, commentary, and analysis. While some data may be verified by industry participants, FxScouts maintains full editorial independence and never allows third parties any control over our work. limefx official site Operating as an online business, this site may be compensated through third party advertisers.
It would help if you made sure with certainty that your money is held with a regulated brokerage. Checking whether Lime Fx and Oanda are regulated is not a hard task. A demo account with Lime Fx or Oanda is extremely useful for people without trading experience.
We thought the outstanding feature of the web version is that it comes with TradingView for advanced charting and a guaranteed stop loss, but we were disappointed it is not available for the web. Withdrawal processing times depend on the payment processor, where Lime Fx offers more transparency, noting it processes requests within two business days. Oanda reviews show typical processing times of one to two business days but can be up to six business days, dependent on the geographic location of clients and their chosen withdrawal method. A trusted global brand, OANDA stands out for its reputation and quality market research.
Lime Fx and Oanda should by law keep client funds separate from Lime Fx and Oanda funds. If either Lime Fx or Oanda goes bankrupt, they should not have access to your money. A financial services compensation scheme differs from country to country, so check this on the Lime Fx and Oanda websites and regulators.
