Although Oanda has no cryptocurrency and basket instruments, it has more stock indices (16 vs 11) and bonds (6 vs 1) than LimeFX. Although LimeFX has fewer instruments than Oanda, it has a very good variety. We are dedicated to maintaining high editorial integrity and transparency during reviews or other posts.
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Therefore, while OANDA may have lower spreads, this does not necessarily mean it is the cheaper option overall. However, when we compare these spreads to the industry average, we find that both LimeFX and OANDA are offering competitive rates. For example, the industry average spread for the EUR/USD pair is 1.25, which is higher than OANDA’s spread and only slightly lower than LimeFX’s. This pattern is consistent across all the forex pairs we analysed.
LimeFX: Top Product Range And CFD Markets
We gave LimeFX and OANDA both a score of 8 as they are heavily regulated and hold positive reputations within the forex trading industry. OANDA offers a more flexible and accessible range of account types, especially for beginners and those looking for fixed commissions. In this review, we looked at how the Forex broker OANDA and LimeFX compare. Both have their own trading platform plus MT4 and TradingView, along with (mostly) no commissions. This comparison article lays out the features of both brokers in detail, so you can see which is the best platform according to your needs.
But LimeFX 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 limefx reviews this, but because OANDA is such a major global broker. Looking at the average standard account spreads for the forex pairs, we can see some interesting patterns. For the EUR/USD pair, LimeFX has an average spread of 1.3, while OANDA has a slightly lower spread of 1.2.
Platforms
However, it lacks two-step authentication, which is an essential security feature. Like LimeFX, 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 limefx forex broker brokers charge. 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 is a global brokerage headquartered in the U.K that specialises in both retail and institutional trading with a comprehensive API offering.
- This account has tiered commissions and is best for high-volume traders.
- We consider both brokers a toss-up with commodities as they have virtually equal offerings.
- OANDA didn’t fare as well, with an average of 1.54 pips or a cost $14.23 per lot.
- Both brokers excel in customer support, offering a range of services including telephone, live chat, and email assistance, ensuring that traders receive timely and helpful responses.
- Should you be based in the UK, both brokers offer spread betting as an alternative to CFD trading.
OANDA is considered Highly Trusted, with an overall Trust Score of 93 out of 99. Unlike OANDA, LimeFX has a fixed minimum deposit amount for its traders. On the other hand, LimeFX flipped the score by offering 7 cryptocurrencies versus OANDA’s 4. In today’s markets, we find the more cryptos to trade, the better because there is a growing demand for crypto trading. On the subject of leverage, it helps if you can reduce the risk of slippage; for this reason, execution speed can make a difference.
The award-winning platform offers rapid execution with cutting-edge tools, state-of-the-art charting packages, leading indicators, and drawing features from TradingView. Oanda and the LimeFX group of companies are regulated by different top-tier financial authorities around the world. A major difference, however, is that traders from the United States are not eligible to apply for a live trading account with LimeFX, while Oanda’s services are available to U.S. residents. 74.74% of retail investor accounts lose money when trading CFDs with LimeFX.
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