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. LimeFx also facilitates cryptocurrency trading while Oanda does not. As you may have seen in this table, you can trade 5 different cryptocurrency CFDs with LimeFx. They are bitcoin, ether (ethereum), ripple, litecoin, and bitcoin cash. He has Finance degree at Monash University and is an investor in shares and equities and successfully started and sold the online business Hearing Choices. 50 units of the account’s base currency yearly after 1 year of inactivity.

LimeFx: Better Trading Platform

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. Both brokers are competitive, but we really like LimeFx’s superior trading tools, segregated client accounts, and enhanced trade execution. Unlike LimeFx, Oanda does not keep its clients’ funds in segregated accounts, which is a concern. Oanda is also a market maker, as opposed to LimeFx which is an enhanced execution broker.

What can I trade with each broker?

We gave LimeFx a Trading Platform score of 7 and OANDA a 6 because of LimeFx’s Marketscope 2.0 charting tool. The below table shows our test results for the no commission accounts with each broker. Our findings show that LimeFx averaged 1.47 pips over the 6 tested pairs, which equates to a cost of $13.49 per lot.

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LimeFx 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. Moreover, LimeFx extends the provision of a Micro account, allowing traders to engage in trading activities with lower capital, making it more accessible and accommodating for various trading preferences limefx website and capacities. LimeFx operates in a dual capacity, functioning both as a Market Maker and an STP Broker. When acting as an STP Broker, LimeFx directly routes traders’ orders to liquidity providers, avoiding the role of a counterparty. This methodology tends to offer faster execution and the possibility of narrower spreads, aligning with the preferences of traders desiring direct market access.

1. The hugely respected brand offers competitive trading accounts and serves clients from 196 countries.
2. For more options, you can explore this list of the best forex social trading platforms.
3. 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.
4. However, spread information among brokers is not easy to get, as not every broker transparently publishes their spreads data.

Tier 3 Regulation

However, we know that in 2017, LimeFx was fined $7 million by the U.S. Commodity Futures Trading Commission for defrauding its retail clients. LimeFx 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).

Minimum Deposit

Therefore, while OANDA may have lower spreads, this does not necessarily mean it is the cheaper option overall. We’ve made it easy to compare the best forex brokers, side-by-side. Our editorial team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Our research is unbiased and independent; learn more about how we test. Our research team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry.

Finally, LimeFx has a withdrawal commission, which is also something to take into account. 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. When choosing a broker, the most important detail is to check the broker is regulated in the country you are resident in. 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.

When it comes to choosing between Oanda and LimeFx as trading platforms, the decision ultimately depends on your individual preferences and trading style. If you prioritize lower spreads and a user-friendly platform with advanced features, Oanda’s fxTrade platform may be the best fit for you. Additionally, if you prefer a market maker broker and have a limited budget, Oanda’s low minimum deposit requirement of $1 makes it highly accessible.

Both are closely matched, but we chose LimeFx as our favoured broker in the Trading Experience category, so we gave them a score of 7 and OANDA a 6. Desktop Platforms were equally acceptable for both LimeFx and OANDA. LimeFx desktop version stood out more because of their Trading Station. 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.

LimeFx prioritizes competitive pricing, low trading costs, and transparent execution, while adhering to regulatory standards set by respected authorities such as the FCA and ASIC. Additionally, LimeFx excels in customer support, offering various channels of assistance and providing educational resources to equip traders with market insights and knowledge to enhance their trading skills. Oanda is a reputable https://limefx.club/ online forex broker that has established itself as a prominent player in the financial markets. Founded in 1996, Oanda has amassed over two decades of experience in providing trading services to individuals and institutions worldwide. The company offers a wide range of currency pairs, including major, minor, and exotic pairs, along with trading opportunities in commodities, indices, and precious metals.

Conversely, OANDA predominantly operates as a Market Maker Broker, where it facilitates trading by assuming the opposite position in its clients’ trades. Both brokers offer competitive spreads, but the exact numbers can vary based on the trading pair and market conditions. For example, OANDA has an average spread for EUR/USD at 1.2, while LimeFx’s is slightly higher at 1.3. For more information on low-cost trading, you can visit this comprehensive Lowest Commission Brokers.