But Lime Fx has far more in the category of share CFD trading at 219 to OANDAs 0. We found it surprising that OANDA doesn’t have shares trading with CFDs, not just because most forex brokers offer this, but because OANDA is such a major global broker. However, traders can still choose their ideal brokers by the type of their spreads. The pros and cons between the two spreads can vary for every trader. In this case, OANDA provides their pricing with Fixed spread while Lime Fx offers Fixed spread.
Does OANDA or Lime Fx Have Lower Costs?
Lime Fx and Oanda both offer outstanding trading conditions in terms of low trading costs, reliable trade execution, and great trading platforms. These brokers also have a good range of tradable instruments, although we would like to see them add a good number of individual stocks CFDs to their lists. Oanda’s list also lacks cryptocurrencies, but perhaps it will have some crypto instruments available soon.
What is the minimum deposit requirement for opening an account with OANDA?
The broker’s Lime Fx Markets arm is not subject to the same regulations as these entities. Lime Fx has fewer user complaints about customer service and more positive experiences vs. Oanda. One Oanda trader on Reddit complained that they charged inactivity fees but were never made aware of the policy around this issue. Customers have complained https://limefx.club/ 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.
Can I trust OANDA?
74.74% of retail investor accounts lose money when trading CFDs with Lime Fx. If social trading is a key factor for you, you may need to look at other brokers. For more options, you can explore this list of the best forex social trading platforms.
Oanda Educational Tools 🛠
Lime Fx, on the other hand, is regulated by two Tier 1 entities – the Australian Securities and Investment Commission and the Financial Conduct Authority. Looking at the average spreads among the key Forex pairs, we have to say that Oanda is more competitive compared to Lime Fx. For example, the average spread on EUR/USD on Lime Fx comes out to 1.3, while on Oanda, it’s as low as 0.1.
For more details on spread betting, you can check out this comprehensive guide for the best spread betting brokers. Desktop Platforms were equally acceptable for both Lime Fx and OANDA. Lime Fx desktop version stood out more because of their Trading Station. For us, one of its main highlights is the Marketscope 2.0 charting tool, which offers powerful charting capabilities that run parallel to the main platform window. Trading Station is a strong competitor to MetaTrader and features complex back-testing options, such as accounting for potential historical slippage and trading costs.
- A notable difference between Lime Fx and Oanda is that clients of Lime Fx have segregated trading accounts while clients of Oanda do not.
- These both accounts are based on spread and are Standard and Premium account with better costs.
- Trust Score is a data-driven rating system that provides an at-a-glance rating of a broker’s overall trust by tracking 60+ brokers and over 100 regulatory jurisdictions across the globe.
- Although Lime Fx has fewer forex pairs to trade, we feel they deserve a higher Tradable Products score than OANDA primarily because of OANDA’s lack of shares to choose from.
- A minute can equal an eternity in a marketplace that deals in the trillions on a daily basis.
Deposit and Withdrawal
Lime Fx and OANDA have carefully constructed trading costs – the Cost Score between the two is a tie with scores of 6 each. 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. Lime Fx won on this, but OANDA does have lower minimum deposits and inactivity limefx courses scam fees, which allowed them to gain ground. Both brokers offer competitive spreads, but the exact numbers can vary based on the trading pair and market conditions. For example, OANDA has an average spread for EUR/USD at 1.2, while Lime Fx’s is slightly higher at 1.3. For more information on low-cost trading, you can visit this comprehensive guide on low commissions.
In addition to forex, this broker supports trading in single-share CFDs, indices, commodities, and cryptocurrencies. OANDA Trade offers technical analysis tools including trade performance analytics to help you assess your trading performance. There’s also a trade journal to help you manage risk and make better decisions. Manage risk, trade through charts and take advantage of a currency-strength heat map. But Oanda offers more options with either a spread-only or a core-pricing plus commission model. 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.
Also, Islamic Account is meant for traders following Sharia laws with suited conditions and applicable laws available. 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.
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 Lime Fx offer top-of-the-line services and excellent charting tools, we found safety of funds better at Lime Fx, and appreciated their superior trade execution. OANDA offers a slightly more versatile range of funding options, including PayPal, making it more convenient for a broader spectrum of traders. Should you be based in the UK, both brokers offer spread betting as an alternative to CFD trading.
This broker offers a trio of APIs (fix, java and forex) that connect directly to its server. Whether it’s foreign exchange (forex), shares, bonds, commodities or cryptocurrencies. The rise of online brokers and mobile trading has been a major milestone that has helped to level the playing field for investors. 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. Lime Fx and Oanda are two prominent forex brokers who have been in the online trading business for many years.
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. OANDA Trade is a web-based platform but there are also apps for mobile devices and tablets. Lime Fx provides news updates on markets like forex and cryptocurrencies as well as market data and other forex and CFD resources plus investment insights.