Lime Fx vs OANDA year Forex Brokers Comparison

The platform is available as a desktop application, web version, and mobile app, ensuring flexibility for traders. Choosing between Lime Fx and OANDA ultimately depends on your trading style, experience level, and specific needs. Lime Fx offers advanced platforms and features for active traders, including API access and more robust institutional services. On the other hand, OANDA’s focus on user-friendly platforms and transparent pricing makes it an excellent choice for traders seeking simplicity and flexibility. Lime Fx is a reliable and competitive online broker, particularly for forex and CFD traders.

• Oanda is also a market maker, as opposed to Lime Fx which is an enhanced execution broker.
• The demo account allows users to trade in real market conditions without risking real money.
• These apps provide access to the same features as the web-based platform and are ideal on the go.
• Both brokers have their strengths, and either could be a good fit depending on your specific needs.
• Lime Fx prioritizes competitive pricing, low trading costs, and transparent execution, while adhering to regulatory standards set by respected authorities such as the FCA and ASIC.

Fees, Pricing and Commissions 💰

Lime Fx is the better choice for experienced traders, offering a superior trading platform and a wider range of products. Lime Fx provides a wide range of educational materials, including webinars, video tutorials, articles, and limefx reviews market analysis. The broker also offers a comprehensive trading school for beginners, covering topics like technical analysis, trading psychology, and risk management. Lime Fx also offers a demo account for traders who want to practice their strategies or familiarize themselves with the platform.

Lime Fx and Oanda offer daily market commentaries and frequent webinars to assist and educate their traders. Both brokers also have really good client support systems in place. Oanda’s support team is available 24/6 while Lime Fx’s is available 24/5. We know what that’s like….and that’s why we’re giving you the bottom line at the top of this page.

So Is OANDA or Lime Fx The Best Broker?

Lime Fx is also a solid choice, especially if you’re interested in social trading or plan to trade in large volumes. Both brokers have their strengths, and either could be a good fit depending on your specific needs. But don’t worry – I’ve done the legwork to make your choice easier. In this no-nonsense comparison, we’ll break down everything you need to know about these two popular brokers. However, having said that, Oanda’s customer service gets consistently fair to poor ratings across a wide range of platform reviews. Long hold times, slow responsiveness to urgent queries and difficulty navigating the website to find the correct support contacts are some of the top complaints.

About Oanda and Lime Fx

This review will help you determine which broker suits your trading needs best. In Lime Fx’s app store, you can access various types of technical indicators, add-ons, and automated trading strategies (trading bots). Lime Fx 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 Lime Fx was founded shortly thereafter in 1999. 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.

Customer Service

For this exercise, we tested 6 major currency pairs over a 24-hour period (AUD/USD, EUR/USD, GBP/USD, USD/CAD, USD/CHF and USD/JPY) and then averaged the spread across the currency pairs. Both brokers are known for offering competitive spreads, although there may be slight differences between the two. We provide broker reviews and ratings to help users find a suitable broker according to their own needs. However, you must do your own due diligence and make your own decisions when choosing a broker. This compensation should not be seen as an endorsement or recommendation, nor shall it bias our broker reviews.

A trusted global brand, OANDA stands out for its reputation and quality market research. Its regulatory track record is strong, and its limefx scam support for third-party features bolsters its overall offering. OANDA has a lower minimum deposit requirement of $0 vs $50 from Lime Fx. Having said that, if you use cards or Trustly as your payment option, both channels require at least $25 or equivalent.

Brokers By Platforms

• Like Lime Fx, OANDA also segregates client funds, ensuring they are held in separate accounts from the broker’s operating funds.
• Lime Fx has fewer user complaints about customer service and more positive experiences vs. Oanda.
• However, Oanda does offer a wider variety of options than Lime Fx in each of their categories.
• This account has tiered commissions and is best for high-volume traders.
• Customers have said that they wish they could trade additional products on Oanda, such as futures markets.
• In my opinion, OANDA is the superior choice for Australian Forex traders.

But if you want to have a different experience with a more advanced platform, choose the broker that provides alternative platforms. The same goes for trading instruments; if you want to try delving into different markets, seek for a broker with more options on trading instruments. It is widely known that forex brokers offer other trading instruments other than currency pairs. The offer gives interesting choices for traders to explore other markets that may be proven beneficial for them and to diversify their trading portfolios. OANDA’s proprietary trading platform is known for its simplicity and ease of use. The platform features advanced charting capabilities, real-time market data, and access to various financial instruments.

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. No commission account spread propiety testing data and published wesbite spread information, centralised on our Standard Account Spreads page. Despite both brokers being highly regulated, we found the brokers are not spotlessly clean. OANDA was fined $20,000 by the NFA in 2021 and $500,000 by the CFTC for regulatory breaches in 2020. We found that Lime Fx and OANDA are close in this category, but Lime Fx edged out OANDA.