But LimeFX has far more in the category of share CFD trading at 219 to OANDAs 0. 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. Looking at the average standard account spreads for the forex pairs, we can see some interesting patterns. For the EUR/USD pair, LimeFX has an average spread of 1.3, while OANDA has a slightly lower spread of 1.2.

1. From my perspective, LimeFX is the better option for UK Forex traders.
2. Our research is unbiased and independent; learn more about how we test.
3. Their greatest selling points are their strong regulatory framework and robust proprietary platforms.
4. However, it’s important to remember that spreads are just one aspect of the cost of trading.
5. It is widely known that forex brokers offer other trading instruments other than currency pairs.

We gave LimeFX and OANDA both a score of 8 as they are heavily regulated and hold positive reputations within the forex trading industry. OANDA offers a more flexible and accessible range of account types, especially for beginners and those looking for fixed commissions. 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. This comparison article lays out the features of both brokers in detail, so you can see which is the best platform according to your needs.

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. Our limefx scammers broker reviews are reader supported and we may receive payment when you click on a partner site.

LimeFX vs OANDA: Which One Is Best?

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. We are dedicated to maintaining high editorial integrity and transparency during reviews or other posts.

However, it lacks two-step authentication, which is an essential security feature. Like LimeFX, OANDA has a commission account called their Cores spread account, and it is available in Australia, Singapore and the US. This account has a fixed rather than a tiered commission for each lot, this being $7.00 per lot, which in our experience, is the standard amount most brokers charge. Interestingly, our tests captured OANDA as having lower minimum spreads and lower average minimum spreads as well. To achieve this, your best bet is to use some sort of automation, which is possible with both brokers. LimeFX is a global brokerage headquartered in the U.K that specialises in both retail and institutional trading with a comprehensive API offering.

LimeFX vs OANDA 2024

Therefore, while OANDA may have lower spreads, this does not necessarily mean it is the cheaper option overall. 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.

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The award-winning platform offers rapid execution with cutting-edge tools, state-of-the-art charting packages, leading indicators, and drawing features from TradingView. Oanda and the LimeFX 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 LimeFX, while Oanda’s services are available to U.S. residents. 74.74% of retail investor limefx reviews accounts lose money when trading CFDs with LimeFX.

OANDA is considered Highly Trusted, with an overall Trust Score of 93 out of 99. Unlike OANDA, LimeFX has a fixed minimum deposit amount for its traders. On the other hand, LimeFX flipped the score by offering 7 cryptocurrencies versus OANDA’s 4. In today’s markets, we find the more cryptos to trade, the better because there is a growing demand for crypto trading. On the subject of leverage, it helps if you can reduce the risk of slippage; for this reason, execution speed can make a difference.