Plus, you can practice with a demo account until you’re ready to take on real markets. Twenty-five years later, you can trade various financial products and crypto-currencies across multiple countries on the platform. The award-winning platform offers rapid execution with cutting-edge tools, state-of-the-art charting packages, leading indicators, and drawing features from TradingView. However, traders can still choose their ideal brokers by the type of their spreads. The pros and cons between the two spreads can vary for every trader.

The platform offered us a wide range of order types and features a great search function. However, it lacks two-step authentication, which is an essential security feature. Interestingly, our tests captured OANDA as having lower minimum spreads and lower average minimum spreads as well.

For example, OANDA has an average spread for EUR/USD at 1.2, while Lime Fx’s is slightly higher at 1.3. For more information on low-cost trading, you can visit this comprehensive Lowest Commission Brokers. Lime Fx is the better choice for experienced traders, offering a superior trading platform and a wider range of products. Based on our research on the regulatory status of over 60 brokers, we’ve found that OANDA holds 7 global Tier-1 licenses, while Lime Fx holds 4. You can unlock the full potential of your forex trading with FX Blue Labs.

Lime Fx Customer Service and Support 📞

There’s a remarkable difference between Lime Fx and Oanda when it comes to the way they apply rollover charges and credits. Lime Fx uses the conventional method of applying rollover credits/charges at the end of the trading day (5 pm EST). Rollover charges/credits are triple on Wednesdays because the coming Saturday and Sunday’s rollover limefx broker reviews charges/credits are billed in advance. The broker provides a seamless experience with additional plugins and a user-friendly interface.

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.

Tools & Features

When it comes to trading tools, Lime Fx has more to offer than Oanda. In Lime Fx’s app store, you can access various types of technical indicators, limefx forex broker add-ons, and automated trading strategies (trading bots). When it comes to funding options, both OANDA and Lime Fx offer a variety of methods to suit different trader needs. OANDA provides the convenience of multiple payment options, including credit/debit cards, bank transfers, and PayPal. Lime Fx, on the other hand, also accepts credit/debit cards and bank transfers but adds the option of Skrill for traders who prefer e-wallets. Although Lime Fx has fewer forex pairs to trade, we feel they deserve a higher Tradable Products score than OANDA primarily because of OANDA’s lack of shares to choose from.

Trading Functionality and Forex Spreads 💷

The hugely respected brand offers competitive trading accounts and serves clients from 196 countries. The company is also overseen by reputable regulators, including the FCA, ASIC and CIRO. 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. Additionally, Lime Fx avails advanced research tools for traders seeking profound market insights, further enhancing its educational support. It is widely known that forex brokers offer other trading instruments other than currency pairs.

Compare OANDA Vs Lime Fx: Which is the Better Forex Broker in 2024?

With zero commissions, over 400 assets, and a range of analysis tools, Lime Fx remains a popular choice for day traders. The broker is also regulated by top-tier authorities including the FCA, ASIC, CySEC, FSCA, BaFin. Oanda and the Lime Fx 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 Lime Fx, while Oanda’s services are available to U.S. residents.

Oanda’s all-in-cost is also 1.4 versus Lime Fx’s all-in-cost is 0.7. But then again, Oanda requires an initial minimum of just $50 to fund a live trading account, while Lime Fx requires a $300 minimum to fund the same. Having said that, it is also widely known that the United States is the most restrictive forex marketplace on the planet. And in truth, the $7 million penalty the CFTC ordered Lime Fx to pay is kind of like pocket change in a marketplace that turns over an estimated $5.1 trillion dailiy.

Their greatest selling points are their strong regulatory framework and robust proprietary platforms. They have dedicated teams in multiple regions to ensure customer support can be provided in the trader’s native language. Plus, there are plenty of self-service resources via their websites, e.g., FAQs and tutorials. Get ready to take your trading game up a notch with MetaTrader 5. This powerful platform boasts advanced tools, deeper market insights, and improved charting capabilities – perfect for traders looking to level up their strategy. Customer service and support is a particularly big deal in the fast-moving, high-risk field of forex trading.

1. To verify the availability of any features within your country of residence, please contact the broker directly.
2. In 1997, OANDA ushered in a new era of free exchange rate information when it became the first to make this data available online.
3. All information on 55brokers.com is only published for general information purposes.

Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker’s commissions and fees, we found that Lime Fx offers better pricing overall for traders. In a typical trading day across all markets – from EUR/USD and beyond – their spreads were identical, with each around 1.2 pips; that’s pretty good news for investors. And if you’ve got an extra-large account or are willing to commit to some severe monthly turnovers (Lime Fx), these guys have even more attractive offers tailored specifically for you. 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.

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 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.

Our findings show that Lime Fx averaged 1.47 pips over the 6 tested pairs, which equates to a cost of $13.49 per lot. OANDA didn’t fare as well, with an average of 1.54 pips or a cost $14.23 per lot. While OANDA and FOREX.com are nearly your only choices among foreign exchange brokers in the United States, they are true heavyweights in the forex trading space. So in the battle of OANDA vs. FOREX.com, you can’t go wrong with either broker, both within and outside the U.S. In contrast, as a stp (straight through processing) forex broker, Lime Fx’s primary role is to connect buyers and sellers who wish to partake in that liquidity through trading available assets.

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. From my perspective, Lime Fx is the better option for UK Forex traders. Both brokers are FCA regulated, but Lime Fx offers spread betting, which is a tax-efficient way to trade in the UK. For more information on the Best Forex Brokers In UK, you can visit this comprehensive list of the Best Forex Brokers In UK. Both brokers offer competitive spreads, but the exact numbers can vary based on the trading pair and market conditions.

These diverse platforms provide traders with extensive tools and functionalities to tailor their trading strategies. On the other hand, OANDA primarily features its own proprietary platform, known for its user-friendliness, along with MT4 and MT5. The overall choice is superior at Lime Fx, where traders may select between the retail-favorite MT4, its proprietary Trading Station, and the social trading market leader ZuluTrade. 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. Neither OANDA nor Lime Fx offer social or copy trading at this time.