As traders, we desire as many base currencies as possible and a sufficient range of leverage. Both are closely matched, but we chose Lime Fx as our favoured broker in the Trading Experience category, so we gave them a score of 7 and OANDA a 6. Lime Fx offers its proprietary Trading Station platform, MetaTrader 4, and TradingView. These platforms support algorithmic trading and provide advanced charting tools.
Fees and Commissions
- It says something to achieve this kind of multi-decade longevity in a field as tumultuous and risky as the forex marketplace.
- Thanks to CFDs, users can start small, use leverage, go short and choose from Trading Station, MT4 or the broker’s API feature.
- Experienced traders in particular are well-served by Oanda’s research and resource offerings.
- Features on this platform include volume profile indicators, multiple charts layout, advanced price scaling and others.
Overall, customer surveys indicate Lime Fx is more responsive to trader needs and more professional in how inquiries are handled. There is also a limefx company reviews plugin traders can use to integrate with their own MT4 platform as desired. Oanda’s average spread is 1.4 versus Lime Fx’s average spread is 1.3.
What Tier-2 jurisdictions is each broker regulated in? What about Tier-3?
We gave Lime Fx a Trading Platform score of 7 and OANDA a 6 because of Lime Fx’s Marketscope 2.0 charting tool. OANDA also supports the widely popular MetaTrader 4 (MT4) platform but has its own trading platform called OANDA Trade Web and OANDA Trade Mobile. 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.
How do OANDA and Lime Fx differ in terms of minimum deposit? What about average spreads and funding options?
Lime Fx user complaints largely have to do with funds taking too long to settle in their respective accounts. Even a “rapid transfer” feature has customers waiting for days for their deposit to arrive with seemingly no reasonable explanation. Customers have said that they wish they could trade additional products on Oanda, such as futures markets. While Oanda doesn’t require a minimum deposit amount to open an account, you can’t deposit more than 50% of your net worth. 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. Lime Fx also facilitates cryptocurrency trading while Oanda does not.
OANDA or Lime Fx charts on TradingView?
Thanks to online brokers, traders have tools at the fingertips that can transform them from a novice into a pro. The British-headquartered broker has won multiple awards and operates in various jurisdictions, including the UK and Australia. With zero commissions, over 400 assets, and a range of analysis tools, Lime Fx remains a popular choice for day traders. The broker is also regulated by top-tier authorities including the FCA and ASIC. In my opinion, OANDA is the superior choice for Australian Forex traders.
Though the range of markets available at Lime Fx has increased following the addition of its share trading feature, it’s worth noting that pricing at Lime Fx is just average. The hugely respected brand offers competitive trading accounts and serves clients from 196 countries. It remains a popular option with both beginners and experienced traders thanks to its user-friendly and sophisticated web platform, no minimum deposit and premium currency products and services. The company is also overseen by reputable regulators, including the FCA, ASIC and CIRO. From my perspective, Lime Fx is the better option for UK Forex traders. Both brokers are FCA regulated, but Lime Fx offers spread betting, which is a tax-efficient way to trade in the UK.
We’ve compared two of the best brokers – Lime Fx and OANDA – so finding your perfect match is even easier. A PIP represents a unit of measurement that’s the smallest price move in the exchange rate of the currency you’re trading. If you’re basing your selection on security, neither of these two brokers has a spotless history.
Both Lime Fx and Oanda offer discount options for active or VIP traders. One year after Lime Fx began its long descent into scandal, Oanda released what is still a seminal manifesto in the forex marketplace, the Forex Trader’s Bill of Rights. All reviews, research, news and assessments of any kind on The Tokenist are compiled using a strict editorial review process by our editorial team. Neither our writers nor our editors receive direct compensation of any kind to publish information on tokenist.com. Our company, Tokenist Media LLC, is community supported and may receive a small commission when you purchase products or services through links on our website.
This module, we will explore the pros and cons of Lime Fx for a trader looking to open an account, as well as the regulatory information pertaining to this broker. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing https://limefx.club/ of each broker’s commissions and fees, we found that Lime Fx offers better pricing overall for traders. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs.
The views expressed here are based solely on the writer’s opinion, research, and personal experience, and should not be taken as factual information. The author is not a financial advisor and lacks relevant certifications in that regard. We’ve made it easy to compare the best forex brokers, side-by-side. Our editorial team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Our research is unbiased and independent; learn more about how we test.
Lime Fx is a reliable and competitive online broker, particularly for forex and CFD traders. With its advanced trading platform, educational resources, and strong regulatory framework. However, its limited product offerings and lack of cryptocurrency trading may not cater to all traders’ needs. Lime Fx, or Forex Capital Markets, is a popular online forex and CFD trading platform that caters to traders worldwide. With a reputation for offering competitive spreads and a robust trading platform.
We’ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other. We’ve compared more than 100 variables and features so you can see the pros and cons of Lime Fx and Oanda side by side. 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. Our automated aggregation service scans hundreds of media sources, as well as blogs and social networks, to deliver live and objective news coverage without editorial control.
However, spread information among brokers is not easy to get, as not every broker transparently publishes their spreads data. Some forex traders prefer to trade through market makers, while others prefer to trade through intermediary brokers. Personal preference aside, the important 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.
Click here for a full list of our partners and an in-depth explanation on how we get paid. While both brokers are doing great in terms of their traders’ safety, we have to say that in this case, Oanda takes the crown – mainly because it is regulated by more entities compared to Lime Fx. With so much experience under their belt, it’s no surprise that both online traders gathered quite a loyal network of customers, attracting both professional and beginner traders. OANDA helps you get ahead of the market trends with automated chart pattern recognition and quality indicators. Use AutoChartist’s technical analysis for your MT4 or MT5 platforms, or access it through MetaTrader with a simple web-based interface. Lime Fx, formerly known as Forex Capital Markets, is a London-based retail broker that enables people to speculate on the foreign exchange market.
Trading Station is available for use on online (web), desktop and mobile. The platform is also built to use HTLM5, which is Macintosh-friendly. However, Oanda does offer a wider variety of options than Lime Fx in each of their categories.