Both brokers are regulated by multiple Tier-1 financial authorities, including the FCA in the UK and ASIC in Australia. 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. Commodity Futures Trading Commission for defrauding its retail clients. Lime Fx misled these clients to believe that it was a ‘no dealing desk’ broker and that its interests were aligned with that of its clients. Oanda, on the other hand, is known to be a ‘market maker’ (dealing desk) broker, which means that it can take the other side of its clients’ trades (trade against its clients).
Is OANDA or Lime Fx better in providing the trading instruments?
Oanda is a great option for traders who value wide asset variety, superior market research, and MT5 support. Yes, Lime Fx and Oanda both offer beginner traders education, research, and quality trading tools. Lime Fx takes the lead in this category, as it features Capitalise AI, a code-free service to automate trading strategies, and broader support for copy and social trading. Both brokers offer better trading conditions for traders with large trading accounts or those (Lime Fx traders) who maintain a certain minimum monthly trading volume. Lime Fx is the better choice for experienced traders, offering a superior trading platform and a wider range of products. In terms of rankings and ratings, OANDA takes a slight lead, earning a five-star research rating from ForexBrokers.com and securing the fifth spot among 62 brokers in the research category.
OANDA: Superior Accounts And Features
Trying to choose between OANDA vs Lime Fx, but can’t decide which Broker is better Broker for your trading strategy? Lime Fx and Oanda are regulated, which means that as part of their regulatory obligations Lime Fx and Oanda have to offer a certain level of financial protection to their clients. Lime Fx and Oanda should by law keep client funds separate from Lime Fx and Oanda funds. If either Lime Fx or Oanda goes bankrupt, they should not have access to your money.
Lime Fx vs OANDA
We gave Lime Fx a Trading Platform score of 7 and OANDA a 6 because of Lime Fx’s scammed by limefx Marketscope 2.0 charting tool. 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. After testing 62 of the best forex brokers, our research and account testing finds that OANDA is better than Lime Fx. OANDA finished with an overall rank of #12, while Lime Fx finished with an overall rank of #15. For Lime Fx, if you are looking for a regulated platform, you must choose between its UK, AU or South African operations.
The learning centre offers us two comprehensive guides and a vast library of nearly 200 articles covering topics such as trading tips, strategies, charting, and indicators. Lime Fx also offers a selection of articles broken down by experience level, catering to beginner, intermediate, and advanced traders. OANDA beats Lime Fx with more forex pairs to choose from, 68 versus 42. 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.
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- Lime Fx also features the Active Trader Rebate Program, which provides discounts ranging from $5 to $25 per million traded, contingent on trade volume.
- When comparing Lime Fx and Oanda, both brokers offer competitive advantages in their respective areas.
- For traders looking for tighter spreads and lower commissions, OANDA offers the Core Account.
- In Lime Fx’s app store, you can access various types of technical indicators, add-ons, and automated trading strategies (trading bots).
- In this case, OANDA provides their pricing with Fixed spread while Lime Fx offers Fixed spread.
Oanda is an international Forex broker founded in 1996 with headquarters in the United States. Oanda specialises exclusively in currency trading solutions for all trader levels. Their greatest selling points are their strong regulatory framework and robust proprietary platforms. Oanda’s customer service is available to users 24/5 across multiple channels including live chat, email or phone. However, users have complained that the broker makes it difficult to find a phone number to speak with a live representative. Their technical support has been described as “weak’ by users who are trying to resolve technical issues.
- 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.
- By taking this extra step to do your research and due diligence, you will be in a much better position to select a broker that is affordable, intuitive and optimized for your trading needs and goals.
- Both platforms support copy trading, aiding traders looking to mimic strategies from successful peers.
- In terms of educational ratings, OANDA scores slightly higher with a perfect 5-star rating, whereas Lime Fx follows closely with 4.5 stars.
- The broker caters to both retail and institutional traders through various account types designed to suit different trading styles.
Fees on Cryptocurrencies
Both companies have earned a strong reputation for providing traders with access to foreign exchange markets, but they differ in several important aspects. This detailed comparison will explore various facets of Lime Fx and OANDA, from their history and regulatory standing to their trading platforms, fees, account types, customer support, and more. When it comes to online trading, comparing OANDA and Lime Fx offers insight into their respective commissions and fees. OANDA is known for its high trading costs, primarily due to its effective spreads.
Since the creation of Bitcoin, the world of cryptocurrencies has been booming, including on trading platforms like Both Lime Fx and Oanda, and it’s not difficult to see why. Cryptocurrencies have the potential to turn modest investments into millions, although this is a rare occurrence. This feat is hard to achieve compared to other financial instruments like stocks and shares.
For this reason, Lime Fx is primarily going to make money on commissions and fees added to each trade order you place. As well, both market makers and stp brokers provide a valuable service to the greater forex and trading marketplace. But they fulfill very different roles and thus their inherent business structure will reflect each company’s unique role and purpose. 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. Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA) for engaging in deceptive practices and failing to disclose certain material information to customers. Despite this, the company continues to be well-regulated in other jurisdictions, offering traders peace of mind.
Personal preference aside, the important takeaway here is that there is no one “right” or “wrong” choice of where to trade forex. By 2018, Lime Fx was under new ownership with a new global CEO, longtime company executive Brendan Callan. Charging forward, Lime Fx proceeded to add cryptocurrency baskets for retail traders along with a host of new targeted offerings for its B2B and data division clients. One of the key points of distinction is that OANDA is known for its strong compliance culture and its transparency regarding pricing and execution. The company also offers negative balance protection in many jurisdictions, adding an extra layer of safety for traders.
What this boils down to is that Lime Fx is more likely to have better effective spreads than Oanda. For example, a trader is more likely to have his orders executed at the specified/desired price or even at a better price (positive slippage). Spread betting with Lime Fx is available for UK residents and provides a tax-efficient way to trade.
Lime Fx Customer Service and Support 📞
It also provides education and research including popular trading tools. Lime Fx also offers trading analytics to help you improve your trading performance. And it has versatile charting capabilities allowing users to see their graphs in full-screen mode or detached. Lime Fx supports https://limefx.group/ trading on TradingView Pro, Trading Station, ZuluTrade and MetaTrader 4.
Lime Fx is rated 4 out of 5 stars and ranks #24 in the Commissions and Fees category by ForexBrokers.com. Oanda is a reputable online broker that offers a diverse range of trading instruments and a user-friendly trading platform. However, the limited account types and lack of cryptocurrency trading may not be suitable for all traders’ preferences.
Lime Fx Vs Oanda Trading Account Types Offered
Enhancing the choice is the Lime Fx suite of tools for algorithmic trading solutions. Oanda maintains its proprietary trading platform and the MT4 trading platform. If social trading is a key factor for you, you may need to look at other brokers.
Like Lime Fx, OANDA has a commission account called their Cores spread account, and it is available in Australia, Singapore and the US. This account has a fixed rather than a tiered commission for each lot, this being $7.00 per lot, which in our experience, is the standard amount most brokers charge. Interestingly, our tests captured OANDA as having lower minimum spreads and lower average minimum spreads as well.