Oanda vs Lime Fx: Which Should You Choose in 2024?

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. In Australia, Lime Fx doesn’t have this type of account, but they do have such an account for their clients in the UK, and it’s limefx scam called their active trader account.

Lime Fx vs Oanda: Comparison and Analysis

We gave Lime Fx a Trading Platform score of 7 and OANDA a 6 because of Lime Fx’s Marketscope 2.0 charting tool. Oanda, on the other hand, seems to have developed somewhat of a reputation for sub-par customer support. Surveys show the platform rates just above average across the board in this area.

• This broker’s inactivity fee similarly kicks in if there’s no trading activity over a 12-month period.
• In Australia, Lime Fx 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.
• To compare the two brokers, we used their ‘spread only’ accounts and we found that their spreads were about the same.
• Oanda, on the other hand, seems to have developed somewhat of a reputation for sub-par customer support.
• These brokers also have a good range of tradable instruments, although we would like to see them add a good number of individual stocks CFDs to their lists.
• Lime Fx, on the other hand, has a smaller range with around 440 instruments but is especially recognized for its advanced trading tools and algorithmic trading support.
• In other words, both brokers have what equestrians like to call “staying power.” After this many years in the biz, it is safe to say they are each fundamentally built to last.

Tie: Lowest Spreads And Fees

The integration of these platforms allows traders to access automated trading strategies and backtesting tools. Lime Fx’s proprietary platform, Trading Station, is designed to offer a seamless trading experience for both beginner and experienced traders. It features an intuitive user interface, real-time charts, advanced charting tools, and access to a wide range of financial markets. The platform is available as a desktop application, web version, and mobile app, ensuring flexibility for traders.

• This does not increase the cost to you for using a broker and is how the site is funded and covers the costs of running this website.
• We aim to equip you with the knowledge to make an educated decision and feel confident in your trading journey with Lime Fx, Oanda or an alternative broker.
• Oanda made the cover of ‘Time magazine’ just one year after launching its first big product.
• For people with next to no knowledge of trading, we recommend fully signing up with an Lime Fx and Oanda demo account.
• As well, both market makers and stp brokers provide a valuable service to the greater forex and trading marketplace.
• Enhancing the choice is the Lime Fx suite of tools for algorithmic trading solutions.

Account Types

This account has tiered commissions and is best for high-volume traders. OANDA provides a free demo account with virtual funds, allowing traders to test the limefx forex brokers reviews platform and practice their trading strategies before committing real money. OANDA’s platform offering is equally robust, providing access to a variety of trading tools and technologies that cater to traders of all levels.

Lime Fx Vs Oanda Customer Support Compared

The company was one of the first brokers to offer online forex trading with direct market access. They are also widely recognized for their dedication to providing high-quality educational resources to help traders improve their skills. Oanda offers access to over 70 forex trading pairs, including major and minor currency pairs.

MT4 is known for its ease of use, vast community support, and customizability. Lime Fx’s version of MT4 allows for automated trading via Expert Advisors (EAs) and offers a wide range of indicators and charting tools. There is an obvious advantage for Lime Fx for offering at least 4 different trading platforms to its traders, while OANDA’s offer is limited to MT4 and proprietary platform. These both accounts are based on spread and are Standard and Premium account with better costs. Also, Islamic Account is meant for traders following Sharia laws with suited conditions and applicable laws available.

Lime Fx Customer Support

Therefore, you can already imagine what helping limit orders can be in your trading career. If you need a micro account check if Lime Fx or Oanda offer micro trading accounts in your region. As the name suggests, this occurs when you have been inactive on your account for a certain period.Also, with Lime Fx or Oanda be aware of or 3rd party payment provider fees and currency conversion fees. You ideally want to choose a broker like Lime Fx or Oanda that does not charge too much for withdrawal fees. High trading fees and commissions must be taken into your profit loss calculations.