LimeFx vs Oanda: Comparison and Analysis

26 May LimeFx vs Oanda: Comparison and Analysis

If you choose to invest in cryptocurrencies, allocating only a fraction of your portfolio or trading budget to it is essential. Crypto trading with LimeFx or Oanda could lead to one of the most exciting trades you’ve ever made, depending on the market. Please remember that cryptocurrency availability on LimeFx, Oanda, and all brokers are subject to regulation. Oanda serves customers globally and are regulated by Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC). Depending on the country you are trading from LimeFx may serve you from a
different business entity to comply with its financial regulators.

  • Customer service and support is a particularly big deal in the fast-moving, high-risk field of forex trading.
  • LimeFx is regulated by Financial Conduct Authority (FCA) and have been in business since 1999.
  • We compare side by side the trading risk management features offered by LimeFx and Oanda below.

It is good to have a diverse portfolio and the options available to a user will always vary. Trading is all about grasping potential opportunities
and you seriously do not want to miss out on a trading opportunity due to the limitations of LimeFx or Oanda. We liked OANDA initial deposit requirement of zero – it simply cannot be beat.

Both LimeFx and Oanda offer discount options for active or VIP traders. But then again, Oanda requires an initial minimum of just $50 to fund a live trading account, while LimeFx requires a $300 minimum to fund the same. One year after LimeFx began its long descent into scandal, Oanda released what is still a seminal manifesto in the forex marketplace, the Forex Trader’s Bill of Rights. To make forex trading more fair, transparent, efficient, clear. All reviews, research, news and assessments of any kind on The Tokenist are compiled using a strict editorial review process by our editorial team. Neither our writers nor our editors receive direct compensation of any kind to publish information on

However, LimeFx offers a superior trading platform when considering the range of advanced tools and technologies provided. 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. LimeFx and Oanda offer low deposits and access to a selection of market insights and news resources. Demo trading accounts are a big plus for LimeFx and Oanda as it shows they are interested in their customers.

We’ve divided the comparisons into a logical structure so it’s easy to navigate. Scroll the whole post below, or use the quick menu to jump to the relevant section. 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.

Risk Management

You can also open a demo forex or contracts for difference (CFDs) account funded with 100,000 virtual base currency units. Oanda and are both major global forex brokers that accept clients from the United States who want to trade in the huge forex market. Most major online forex brokerages do not accept U.S. clients due to strict laws. That fact makes this review especially important to any U.S. resident who would like to operate in the forex market. Find out which of these world-class online brokers best fits your needs.

Unfortunately, LimeFx gets some points deducted for the recent performance of their apps. From the most recent user reviews for each app, it appears the company is in the midst of a number of app updates. Users report frequent crashes and missing or slow-to-load features.

  • 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.
  • Trading Station is a strong competitor to MetaTrader and features complex back-testing options, such as accounting for potential historical slippage and trading costs.
  • Oanda is most definitely not a con as they are regulated by major financial regulators.
  • The LimeFx online trading platform gives traders from all over the world access to over 100
    financial instruments including over 100 available instruments.
  • Make sure you do your research and check the commission and fees with both LimeFx and Oanda before you invest anything.

If you are interested in trading CFDs, LimeFx Group offers traders access to 1429 CFDs, while OANDA offers access to 124 CFDs; so LimeFx Group offers 1305 more CFDs than OANDA. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider.

Popular Forex Guides

Oanda, on the other hand, seems to have developed somewhat of a reputation for sub-par customer support. Surveys show the platform limefx broker reviews rates just above average across the board in this area. 🔍 Are you looking for some alternative apps for mobile trading?

What is LimeFx? 📘

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. LimeFx is a respected forex and CFD broker, established since 1999. The British-headquartered broker has won multiple awards and operates in various jurisdictions, including the UK and Australia.

Oanda vs LimeFx

As traders, we desire as many base currencies as possible and sufficient range of leverage. Both are closely matched, but we chose LimeFx as our favored broker in the Trading Experience category, so we gave them a score of 7 and OANDA a 6. 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. In Australia, LimeFx doesn’t have this type of account but they do have such an account for their clients in the UK and it’s called their active trader account.

Pros of Oanda and LimeFx

This is not terribly unusual for a broker, but you will want to check all of this out before you continue. Financial regulation is the most important thing to consider. LimeFx is listed as a publically traded company so are a reputable broker. Oanda is a renowned United States, Canada financial trading brokerage
established in 1996.

Mobile App

Oanda’s average spread is 1.4 versus LimeFx’s average spread is 1.3. Oanda’s all-in-cost is also 1.4 versus LimeFx’s all-in-cost is 0.7. Each trader comes to the forex marketplace with their own individual needs, preferences and goals.

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