Experience a friendly, secure platform that offers professional traders the same sleek user interface as retail ones – plus a super responsive experience. TradingView is your go-to source for all the latest trading and investing news. Access live stream quotes, graphs, and helpful insights from experienced traders.
And for big ticket forex traders, Lime Fx makes its virtual private server (VPS) network available gratis. Smaller ticket retail clients can now take advantage of mini accounts to dip a toe (or few) into the forex marketplace. And all clients can now add CFD instruments to their trade portfolios. Unlike Lime Fx, Oanda does not keep its clients’ funds in segregated accounts, which is a concern. Oanda is also a market maker, as opposed to Lime Fx which is an enhanced execution broker. The latter is better for retail clients because the matching algorithm always displays the best bid and ask prices from a multitude of different liquidity providers).
When trading with Lime Fx and OANDA, you can trust that your personal and financial information is handled securely. Their powerful servers are protected by advanced encryption technology and firewalls to prevent unauthorized access. In addition to security measures, both companies have earned prestigious recognition from multiple trusted agencies worldwide—including the US CFTC & NFA, UK FCA, and Australia’s ASIC.
- This powerful platform boasts advanced tools, deeper market insights, and improved charting capabilities – perfect for traders looking to level up their strategy.
- To compare the two brokers, we used their ‘spread only’ accounts and we found that their spreads were about the same.
- However, OANDA stands out by offering a more extensive selection of e-payment methods.
- 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.
- Lime Fx is particularly recommended for advanced traders due to its wide variety of platform options, offering a broader selection such as MT4, Zulutrade, NinjaTrader, and a custom platform.
Click here for a full list of our partners and an in-depth explanation on how we get paid. Lime Fx is clearly better equipped to secure client funds than Oanda. However, we know that in 2017, Lime Fx was fined $7 million by the U.S.
Trading Platforms
For more details on spread betting, you can check out this comprehensive guide for the best spread betting brokers. Lime Fx and OANDA are both market-maker brokers with identical leverage offerings. 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. 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.
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 limefx scam different markets, seek for a broker with more options on trading instruments. Oanda stands out by offering competitive spreads and waiving the requirement for a minimum deposit, enhancing accessibility for traders across various experience levels. Conversely, Lime Fx presents a wide spectrum of markets and instruments, paired with low floating spreads, to cater to a multitude of trading strategies.
Customer Service
With Lime Fx, you can trade in contracts for difference (CFDs) across major indices and commodities such as gold and crude oil – opening up new possibilities when dealing with currencies. FOREX.com and OANDA offer similar customer support via live chat and multilingual support. FOREX.com and OANDA both offer “welcome” bonuses, and FOREX.com offers additional promotions to entice traders to its platform.
These factors will assist you in determining which broker might be best for you. Lime Fx vs OANDA both offer a singular account option, inclusive of Islamic accounts. This facilitates traders who follow Sharia principles to participate in currency trading on their platforms. With up to two decades of experience each, Lime Fx and OANDA are well-established brokers brimming with competitive advantages.
So, if you are in Australia, it is best the broker has ASIC regulation. Use our international search tool to find a broker that accepts clients from your country.
Is FOREX.com a trusted broker?
Lime Fx offers its proprietary Trading Station platform, MetaTrader 4, and TradingView. These platforms support algorithmic trading and provide advanced charting tools. However, when we compare these spreads to the industry average, we find that both Lime Fx and OANDA are offering competitive rates.
However, the opinions and reviews published here are entirely our own. Withdrawal processing times depend on the payment processor, where Lime Fx offers more transparency, noting it processes requests within two business days. Oanda reviews show typical processing times of one to two business days but can be up to six business days, dependent on the geographic location of clients and their chosen withdrawal method.
OANDA is better suited for beginner traders due to its lower minimum deposit and more straightforward account features. OANDA offers a slightly more versatile range of funding options, including PayPal, making it more convenient for a broader spectrum of traders. Based on our analysis, Lime Fx offers a slightly more comprehensive customer service experience, particularly with its educational webinars and in-depth responses. OANDA also supports the widely popular MetaTrader 4 (MT4) platform but has its own trading platform called OANDA Trade Web and OANDA Trade Mobile. Also satisfactory was Lime Fxs web trading platform; we appreciated that it is highly customisable and user-friendly.
74.74% of retail investor accounts lose money when trading CFDs with Lime Fx. When it comes to customer service, both OANDA and Lime Fx have their merits. OANDA offers 24/5 customer support through live chat, email, and phone, catering to traders around the globe. Lime Fx, on the other hand, provides a similar level of support but stands out with its educational webinars and market analysis updates.
To achieve this, your best bet is to use some sort of automation, which is possible with both brokers. The CompareForexBrokers team wanted to see how the two brokers compared when it came to spread costs, so we went and tested. 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. A trusted global brand, OANDA stands out for its reputation and quality market research. Its regulatory track record is strong, and its support for third-party features bolsters its overall offering. We’ve made it easy to compare the best forex brokers, side-by-side.
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly. Fintech-Insight is dedicated to delivering unbiased and dependable insights into cryptocurrency, finance, trading, and stocks. However, we must clarify limefx reviews that we don’t offer financial advice, and we strongly recommend users to perform their own research and due diligence. Unlock all-new features on TradingView, such as doubling the data displayed in charts and marketplace add-ons. Earn an exclusive badge next to your name, get custom resolutions for symbols, and start trading directly from TradingView with Lime Fx integration – making it smoother.
