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. Also satisfactory was LimeFxs web trading platform; we appreciated that it is highly customisable and user-friendly. The platform offered us a wide range of order types and limefx official site features a great search function. However, it lacks two-step authentication, which is an essential security feature. Interestingly, our tests captured OANDA as having lower minimum spreads and lower average minimum spreads as well. To achieve this, your best bet is to use some sort of automation, which is possible with both brokers.
LimeFx vs Oanda Trading Platforms Comparison
Of course, if we had chosen different currency pairs or tested on a different date, the results might have been different. For example, our tests suggest OANDA is a better choice than LimeFx for AUD/USD (far superior) and USD/CAD currency pairs. 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.
Broker Types
LimeFx offers more security to traders and has a much higher trust score than OANDA overall. LimeFx is licensed by two Tier-1 Regulators (high trust), two Tier-2 Regulators (average trust), and zero Tier-3 Regulators (low trust). Considering that spread is a trading cost, the lower the spread, the better it is for traders. However, spread information among brokers is not easy to get, as not every broker transparently publishes their spreads data. Oanda is an international Forex broker founded in 1996 with headquarters in the United States.
FOREX.com vs OANDA Comparison
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. Based on our research on the regulatory status of over 60 brokers, we’ve found that OANDA holds 7 global Tier-1 licenses, while LimeFx holds 4. Neither OANDA nor LimeFx offer social or copy trading at this time. If social trading is a key factor for you, you may need to look at other brokers.
Compare LimeFx Vs OANDA Side by Side
OANDA provides traders 71 currency pairs (e.g., EUR/USD) compared to LimeFx’s 43 available pairs. In my opinion, OANDA is the superior choice for Australian Forex traders. Both OANDA and LimeFx are ASIC regulated, but OANDA has a more comprehensive offering for the Australian market.
- Picking between these industry leaders is an excellent way for traders, old or new, to jump-start their journey into trading.
- Founded in New York and later expanding to London in 2003 with a regulated office under UK’s Financial Services Authority – LimeFx is the leading innovation for global currency markets.
- LimeFx is behind Trading Station, an early trading platform that gave traders direct access to the forex market.
- OANDA helps you get ahead of the market trends with automated chart pattern recognition and quality indicators.
- Oanda, on the other hand, is regulated and supervised by several robust authorities such as the CFTC in the US and the FCA in the UK, ensuring enhanced investor protection and rigorous regulatory scrutiny.
- However, the company now provides clients with access to a wide range of asset classes across many financial markets, including currencies, commodities, and energy.
Their technical support has been described as “weak’ by users who are trying to resolve technical issues. Gain access to FX trading pairs on a mobile app or tablet device. 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 offers technical analysis tools including trade performance analytics to help you assess your trading performance.
Known for its transparent pricing, intuitive trading platform, and strong regulatory standing, Oanda has gained a reputation as a trusted broker in the industry. In this module, we will explore the pros and cons of Oanda for a trader looking to open an account, as well as the regulatory information pertaining to this broker. Oanda offers a broad range of trading instruments, including Forex, commodities, indices, spread betting, futures, and bonds, giving traders access to various asset classes.
The company is also overseen by reputable regulators, including the FCA, ASIC and CIRO. Founded in 1996, OANDA is a long-standing, highly trusted broker licensed in an impressive seven Tier-1 regulatory jurisdictions. The OANDA Trade platform is available for web, desktop, and mobile. Though the desktop platform is good – not great – the mobile app is easy to use and boasts a great balance of features.
Looking at the average spreads among the key Forex pairs, we have to say that Oanda is more competitive compared to LimeFx. For example, the average spread on EUR/USD on LimeFx comes out to 1.3, while on Oanda, it’s as low as 0.1. The options can be overwhelming if you’re looking for a broker to meet your needs. Don’t https://limefx.biz/ worry – both of these companies have significant aspects to offer. You’ll need to analyze what platform or products are right for you before deciding which is best suited. Once you’ve made up your mind, rest assured that both brokers provide excellent service – whichever route you choose won’t disappoint.
Every year, PricewaterhouseCoopers performs an audit of the records, and the findings are subsequently sent to the relevant regulatory bodies. LimeFx not only offers Trading Station, MetaTrader 4, ZuluTrade, and TradingView Pro, but also offers others such as Capitalise AI, QuantConnect, SeerTrading, and more. Yes on bank transfer withdrawals depending on location (from $10 to $40 on local currency). 50 units of the account’s base currency yearly after 1 year of inactivity.