Both brokers excel in customer support, offering a range of services including telephone, live chat, and email assistance, ensuring that traders receive timely and helpful responses. Additionally, LimeFx avails advanced research tools for traders seeking profound market insights, further enhancing its educational support. Oanda predominantly provides commission-free trading, where spreads, subject to market conditions and account types, are the main expense incurred by traders. In comparison, LimeFx has spreads that tend to be somewhat above the industry norm, and it also imposes an inactivity fee on traders’ accounts. OANDA provides traders 71 currency pairs (e.g., EUR/USD) compared to LimeFx’s 43 available pairs.
Forex Fixed Spreads
And if you want to learn more about either of them, check out our more detailed LimeFx and Oanda reviews. Rates, terms, products and services on third-party websites are subject to change without notice. We may be compensated but this should not be seen as an endorsement or recommendation by TradingBrokers.com, nor shall it bias our broker reviews. Withdrawal processing times depend on the payment processor, where LimeFx offers more transparency, noting it processes requests within two business days.
Withdrawal and Deposit Methods
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, LimeFx has an average spread of 1.3, while OANDA has a slightly lower spread of 1.2.
Oanda vs LimeFx – Which Broker Offers Better Pricing?
- As you may have seen in this table, you can trade 5 different cryptocurrency CFDs with LimeFx.
- This affordability makes it highly accessible to beginners and traders with limited initial capital.
- Neither broker supports social trading, however, it is still possible by using MetaTrader’s Trading Signals, to have the ability to copy trades of successful traders.
- If you’re planning on trading cryptocurrencies, then again, Oanda might be the better broker due to the fact that they don’t charge a commission when you trade CFDs on Bitcoin cash, Litecoin, or Ethereum.
- We’ve divided the comparisons into a logical structure so it’s easy to navigate.Scroll the whole post below, or use the quick menu to jump to the relevant section.
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. All information on 55brokers.com is only published for general information purposes. We do not present any investment advice or guarantees for the accuracy and reliability of the information. We found that LimeFx and OANDA are close in this category, but LimeFx edged out OANDA. Of course, if we had chosen different currency pairs or tested on a different date, the results might have been different.
These diverse platforms provide traders with extensive tools and functionalities to tailor their trading strategies. On the other hand, OANDA primarily features its own proprietary platform, known for its user-friendliness, along with MT4 and MT5. Oanda is a global forex broker and one of the oldest in the market, headquartered in London and supervised by the UK financial regulator FCA, but also has offices in Singapore, Tokyo, Toronto, Chicago and Zurich. You can trade forex or CFDs on indices, commodities or bonds at Oanda either through its own trading platform fxTrade or with MetaTrader 4. With the trading platform TradingStationWeb LimeFx offers a browser-based platform, but customers can also choose a desktop version or MetaTrader 4.
Does Either Broker Offer Spread Betting?
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, https://limefx.biz/ we found safety of funds better at LimeFx, and appreciated their superior trade execution. On the other hand, Oanda ensures traders have access to a wealth of educational resources.
When it comes to customer service, both OANDA and LimeFx have their merits. OANDA offers 24/5 customer support through live chat, email, and phone, catering to traders around the globe. LimeFx, on the other hand, scammed by limefx provides a similar level of support but stands out with its educational webinars and market analysis updates. Should you be based in the UK, both brokers offer spread betting as an alternative to CFD trading.
A notable difference between LimeFx and Oanda is that clients of LimeFx have segregated trading accounts while clients of Oanda do not. The FCA , by which LimeFx is regulated, requires LimeFx 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 LimeFx going bankrupt or insolvent. 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.
In this case, LimeFx provides their pricing withFixed spread while OANDA offersFixed spread. Both Oanda and LimeFx provide a range of options for depositing and withdrawing funds from trading accounts. Oanda supports various methods, including bank wire transfers, credit/debit cards, PayPal, and electronic wallets such as Skrill and Neteller. LimeFx offers similar options, including bank wire transfers, credit/debit cards, and electronic wallets like Skrill and Neteller. However, it is important to note that LimeFx does not support PayPal as a payment method.
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). 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 is better suited for beginner traders due to its lower minimum deposit and more straightforward account features.
OANDA provides a variety of educational materials, including getting-started guides, tools and strategies, and capital management resources. Additionally, OANDA hosts frequent webinars covering various trading topics and maintains an archive of past webinars for on-demand viewing. Despite both brokers being highly regulated, we found the brokers are not spotlessly clean.