This broker offers similar options for commodities trading and offers a range of crypto CFDs to choose from. Gain access to FX trading pairs on a mobile app or tablet device. These limefx forex broker 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.
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. Therefore, while OANDA may have lower spreads, this does not necessarily mean it is the cheaper option overall.
Your trade will be executed when the financial asset hits a set price. Limit orders are extremely useful as they allow you to buy stock at a better price! It would be very time-consuming to wait for a stock to fall to a price you would ultimately be satisfied by.
- LimeFx followed shortly after, as they were founded just three years after Oanda – in 1999.
- Please remember that cryptocurrency availability on LimeFx, Oanda, and all brokers are subject to regulation.
- Learn more about Trust Score, and check out our country guides to see the most trusted brokers in your country of residence.
- For this reason, LimeFx is primarily going to make money on commissions and fees added to each trade order you place.
- Oanda’s average spread is 1.4 versus LimeFx’s average spread is 1.3.
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly. To support their clients, LimeFx enables trading with MetaTrader 4 (Limited with 30 days), Trading Station II (Limited with 30 days), MirrorTrader, NinjaTrader. The offer is supported with
One-click trading, Trailing stop, Pending orders. In comparison, OANDA provides trading with FxTrade App, MetaTrader 5, Oanda Platform, MetaTrader 4 with the support of .
Cryptocurrencies have the potential to turn modest investments into millions, although this is a rare occurrence. This feat is hard to achieve compared to other financial instruments like stocks and shares. Both LimeFx and Oanda offer some form of cryptocurrency trading. The LimeFx online trading platform gives traders from all over the world access to over 100
financial instruments including over 100 available instruments.
Which broker offers more tradeable asset classes, LimeFx or OANDA?
Customers have complained about not being able to withdraw funds that were deposited, in one case amounting to $40. There are multiple complaints by users on Trustpilot who have been unable to withdraw funds, with some customers saying that Oanda makes this process too complicated. Oanda has argued that documents for funding must be compliant with regulations. Traders may choose to do social trading on LimeFx via ZuluTrade, where you can copy the trading strategies of the pros. On LimeFx, you can also access MT4 without any third-party bridges.
- LimeFx allows traders to trade up to 100 financial instruments while Oanda have around 100 on their trading platform.
- OANDA was fined $20,000 by the NFA in 2021 and $500,000 by the CFTC for regulatory breaches in 2020.
- For traders, particularly those searching for algorithmic trading solutions, LimeFx continues to be one of the most competitive alternatives available.
- The offer is supported with
One-click trading, Trailing stop, Pending orders. - For the trading platform, MetaTrader 4 is the standard choice for every trader.
- Founded in 1999, LimeFx (a Jefferies Group company) is a long-standing brand that caters to global forex and CFD traders.
To do this with some brokers would be a bad idea because of the commission and fees involved. Also, before you sign up with online brokers like LimeFx or Oanda, make sure you know what you are doing. Simple advice, we admit, but we know from experience how many people decide to start trading and then ask questions later.
Features and Platforms
Both are closely matched, but we chose LimeFx as our favoured broker in the Trading Experience category, so we gave them a score of 7 and OANDA a 6. A market maker facilitates the process required to provide liquidity for trading pairs on centralised exchanges. In the forex industry, market makers often have a bad reputation because some brokers display worse bid/ask prices than ECN brokers. Desktop Platforms were equally acceptable for both LimeFx and OANDA. LimeFx desktop version stood out more because of their Trading Station.
This broker’s inactivity fee similarly kicks in if there’s no trading activity over a 12-month period. 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 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. Oanda also has a lengthy operating history with 25 years under its belt.
Security and Trust
Click here for a full list of our partners and an in-depth explanation on how we get paid. 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. This can be advantageous to some traders and negative for others, depending on which instruments they trade as well as the duration of their trades.
When it comes to trading tools, LimeFx has more to offer than Oanda. In LimeFx’s app store, you can access various types of technical indicators, add-ons, and automated trading strategies (trading bots). We know what that’s like….and that’s why we’re giving you the bottom line at the top of this page. While both OANDA and LimeFx offer top-of-the-line services and excellent charting tools, we found safety of funds better at LimeFx, and appreciated their superior trade execution.
What is the minimum deposit requirement for opening an account with OANDA?
For traders, particularly those searching for algorithmic trading solutions, LimeFx continues to be one of the most competitive alternatives available. Clients are given access to high-calibre research via LimeFx Plus, and novice traders are given access to informative teaching material. The LimeFx platform is best suited for more seasoned traders who have already developed a method that relies on a wide variety of add-ons and tools. These traders will benefit the most from using the LimeFx platform. Pricing information for currency pairs is obtained by LimeFx from premium liquidity sources such as international banks and financial institutions.
Oanda Platforms Available 💻
Founded in 1996, Oanda is a well-known forex broker offering retail and institutional clients access to forex and CFDs on commodities, indices, and stocks. Currently headquartered in London, Oanda has a strong global presence. Its intuitive https://limefx.biz/ trading platforms, OANDA Trade and MetaTrader 4 (MT4), combined with powerful research tools, provide ample opportunities for traders to prosper in the financial markets. LimeFx provides forex and CFD market access across experience levels.
Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site. Our broker rankings are based on thorough research and analysis. We put a strong emphasis on transparency, regulatory oversight, and client feedback. Overall, customer surveys indicate LimeFx is more responsive to trader needs and more professional in how inquiries are handled. Oanda narrowly edges out LimeFx in this category based on the number of Tier-1 (most trusted) operating licenses the broker has obtained.