This broker also charges an inactivity fee if there are no trades executed over a 12-month period. Also, it helps to know that the minimum amount to open an account on Lime Fx is $50. Oanda provides high-quality trading platforms with deep functionality and integration with TradingView. Copyright © 2025 Forex BrokeragesCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. This website is for informational purposes only and should not be considered advice.
50 units of the account’s base currency yearly after 1 year of inactivity. A PIP represents a unit of measurement that’s the smallest price move in the exchange rate of the currency you’re trading. If you’re basing your selection on security, neither of these two brokers has a spotless history.
Oanda stands out for its wide variety of tradeable assets and global reputation, offering access to over 3,900 financial instruments, including Forex, stocks, commodities, and cryptocurrencies. 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. Both brokers offer better trading conditions for traders with large trading accounts or those (Lime Fx traders) who maintain a certain minimum monthly trading volume. If social trading is a key factor for you, you may need to look at other brokers.
- Thanks to CFDs, users can start small, use leverage, go short and choose from Trading Station, MT4 or the broker’s API feature.
- For example, our tests suggest OANDA is a better choice than Lime Fx for AUD/USD (far superior) and USD/CAD currency pairs.
- This detailed comparison will explore various facets of Lime Fx and OANDA, from their history and regulatory standing to their trading platforms, fees, account types, customer support, and more.
- Additionally, Lime Fx avails advanced research tools for traders seeking profound market insights, further enhancing its educational support.
OANDA’s spreads are also competitive, with the typical spread on major currency pairs starting from 1.0 pip. However, OANDA’s spreads can fluctuate depending on market conditions, and traders can opt for tighter spreads on its Core Account, which uses a commission-based pricing model. 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.
OANDA boasts a significantly larger selection, with 3,928 tradeable symbols and 68 forex pairs, compared to Lime Fx’s 440 symbols and 43 forex pairs. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Mobile Trading
- Personal preference aside, the important takeaway here is that there is no one “right” or “wrong” choice of where to trade forex.
- We elected to focus our comparison on the no-commission account since the is the most popular option retail traders are likely to use, which we assume our readers will be.
- He has been successfully trading Forex since 2014 and has been actively involved in the cryptocurrency market since 2017.
- Both brokers are FCA regulated, but Lime Fx offers spread betting, which is a tax-efficient way to trade in the UK.
While Oanda is a market maker, Lime Fx is an enhanced execution broker. What this boils down to is that Lime Fx is more likely to have better effective spreads than Oanda. For example, a trader is more likely to have his orders executed at the specified/desired price or even at a better price (positive slippage). Lime Fx and Oanda are two prominent forex brokers who have been in the online trading business for many years. Oanda’s first data feed went live in 1997, while Lime Fx was founded shortly thereafter in 1999. Spread betting with Lime Fx is available for UK residents and provides a tax-efficient way to trade.
Lime Fx 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). To compare the two brokers, we used their ‘spread only’ accounts and we found that their spreads were about the same. For example, during a typical trading day, their spreads on the EUR/USD were found to be in the region of 1.2 pips, which is quite decent. Both brokers use floating spreads, which means that their spreads vary frequently. Lime Fx also offers a paid programming service to clients interested in automating their trading strategies.
Lime Fx Platforms Available 
Nikolay is an experienced specialist in financial markets and co-founder of IamForexTrader. He has been successfully trading Forex since 2014 and has been actively involved in the cryptocurrency market since 2017. Lime Fx offers a wide range of methods for depositing and withdrawing funds, including cryptocurrencies. While both brokers are doing great in terms of their traders’ safety, we have to say that in this case, Oanda takes the crown – mainly because it is regulated by more entities compared to Lime Fx.
Trading platforms and tools
MT5 offers enhanced functionality compared to MT4, with additional timeframes, order types, and a broader range of technical indicators. The integration of these platforms allows traders to access automated trading strategies and backtesting tools. 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. Founded in 1996, OANDA is one of the pioneers in the online forex trading space.
Unfortunately, Lime Fx 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. Trading Station is available for use on online (web), desktop and mobile.
Looking at the average standard account spreads for the forex pairs, we can see some interesting patterns. For the EUR/USD pair, Lime Fx has an average spread of 1.3, while OANDA has a slightly lower spread of 1.2. This trend continues across the other forex pairs, with OANDA consistently offering slightly lower spreads than Lime Fx.
Oanda’s technical support provides extensive communication options and round-the-clock service, ensuring the professionalism and efficiency of the solutions provided. Lime Fx offers comprehensive analytical tools, from trading signals to expert research. These resources not only simplify trading decisions but also help to improve strategy.
The account opening process at Lime Fx is logically organized and efficient, providing clear steps for traders. The structured system and quick verification make this process convenient and straightforward. All in all, the two brokers are a solid choice regardless of which one you decide to go with. And if you want to learn more about either of them, check out our more detailed Lime Fx and Oanda reviews. As far as pricing goes and which of the Forex trading providers does better in this regard, there are a few things that you should take into account.
So Is OANDA or Lime Fx The Best Broker?
This facilitates traders who follow Sharia principles to participate in currency trading on their platforms. Lime Fx operates in a dual capacity, https://limefx.vip/ functioning both as a Market Maker and an STP Broker. When acting as an STP Broker, Lime Fx directly routes traders’ orders to liquidity providers, avoiding the role of a counterparty.
Oanda offers a straightforward and structured registration process, ensuring convenience for clients. We’ve compared more than 100 variables and features so you can see the pros and cons of Lime Fx and Oanda side by side. 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. limefx scam Beginning traders may find Lime Fx’s learning portal less overwhelming to organize and make use of. If you can overlook the somewhat scattershot organization of Oanda’s educational tools, overall you will find a comprehensive suite of resources from which to do your own research.
In the forex industry, market makers often have a bad reputation because some brokers display worse bid/ask prices than ECN brokers. OANDA also supports the widely popular MetaTrader 4 (MT4) platform but has its own trading platform called OANDA Trade Web and OANDA Trade Mobile. We thought the outstanding feature of the web version is that it comes with TradingView for advanced charting and a guaranteed stop loss, but we were disappointed it is not available for the web.
Lime Fx Educational Resources
Lime Fx has an edge in offering multiple account types, while Oanda excels in transparent pricing and a wider range of trading instruments. Ultimately, the choice between Lime Fx and Oanda will depend on each trader’s individual needs and preferences. Both brokers are reputable and well-regulated, providing a secure trading environment. Oanda offers a broad range of trading instruments, including Forex, commodities, indices, spread betting, futures, and bonds, giving traders access to various asset classes. Lime Fx also provides an extensive selection of trading instruments, covering Forex, indices, commodities, cryptocurrencies, and spread betting, offering a comprehensive choice of markets to trade.