The latter is better for retail clients because the matching algorithm always displays the best bid and ask prices from a multitude of different liquidity providers). The first model is a ‘spread only’ account where traders pay just the spread and no commission. LimeFx and Oanda offer daily market commentaries limefx scammers and frequent webinars to assist and educate their traders. Both brokers also have really good client support systems in place. Oanda’s support team is available 24/6 while LimeFx’s is available 24/5. We know what that’s like….and that’s why we’re giving you the bottom line at the top of this page.
OANDA offers traders a quick and convenient way to manage their finances with up-to-the-second charge/credit integrations. Depending on the type of instrument they’re trading and how long each trade lasts – this could be highly beneficial or detrimental. LimeFx is a global brokerage headquartered in the U.K that specialises in both retail and institutional trading with a comprehensive API offering. LimeFx is clearly better equipped to secure client funds than Oanda.
And if you’ve got an extra-large account or are willing to commit to some severe monthly turnovers (LimeFx), these guys have even more attractive offers tailored specifically for you. 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. Oanda predominantly provides commission-free trading, where spreads, subject to market conditions and account types, are the main expense incurred by traders. In comparison, LimeFx has spreads that tend to be somewhat above the industry norm, and it also imposes an inactivity fee on traders’ accounts. In my opinion, OANDA is the superior choice for Australian Forex traders.
Plus, stay in the loop with push notifications sent directly to your MT4 mobile app, including updates from the MQL5 community. LimeFx, formerly Shalish Capital Markets, has been at the forefront of foreign exchange trading since 1999. Founded in New York and later expanding to London in 2003 with a regulated office under UK’s Financial Services Authority – LimeFx is the leading innovation for global currency markets. LimeFx, formerly known as Forex Capital Markets, is a London-based retail broker that enables people to speculate on the foreign exchange market. With LimeFx, you can trade in contracts for difference (CFDs) across major indices and commodities such as gold and crude oil – opening up new possibilities when dealing with currencies.
- The broker is also regulated by top-tier authorities including the FCA and ASIC.
- 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.
- However, we must clarify that we don’t offer financial advice, and we strongly recommend users to perform their own research and due diligence.
- In these jurisdictions, it is regulated by the UK’s Financial Conduct Authority, the Australia Securities and Investment Commission and South Africa’s Financial Sector Conduct Authority.
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. Conversely, OANDA predominantly operates as a Market Maker Broker, where it facilitates trading by assuming the opposite position in its clients’ trades. OANDA provides traders 71 currency pairs (e.g., EUR/USD) compared to LimeFx’s 40 available pairs. If you are interested in trading CFDs, OANDA offers traders access to 1744 CFDs, while LimeFx offers access to 440 CFDs; so OANDA offers 1304 more CFDs than LimeFx.
Pros and Cons: Oanda vs. LimeFx 📝
OANDA offers 24/5 customer support through live chat, email, and phone, catering to traders around the globe. LimeFx, on the other hand, provides a similar level of support but stands out with its https://limefx.vip/ educational webinars and market analysis updates. Both Oanda and LimeFx offer different types of trading platforms, providing their traders, for example, with mobile apps for trading on the go.
Is LimeFx good?
No commission account spread propiety testing data and published wesbite spread information, centralised on our standard account spread page.. On the subject of leverage, it helps if you can reduce the risk of slippage; for this reason, execution speed can make a difference. We tested the execution speed of LimeFx and found they have an average execution speed of 108 ms for Limit Orders and 123 ms for Market Orders. Charts with clear entry and exit points, delivered by proven, funded traders. Overall, customer surveys indicate LimeFx is more responsive to trader needs and more professional in how inquiries are handled. 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.
Plus, you can practice with a demo account until you’re ready to take on real markets. From its beginnings in 1999, LimeFx has become a recognized leader in the forex and CFD markets. Its commitment to technological excellence is evidenced by numerous awards for being at the forefront of innovation in trading services. This worldwide focus extends into their vast infrastructure that helps ensure customers always have access to premium market conditions for successful trades.
Tier 3 Regulation
No, third-party payments are not supported and violate the broker’s anti-money-laundering practices. For LimeFx, if you are looking for a regulated platform, you must choose between its UK, AU or South African operations. In these jurisdictions, it is regulated by the UK’s Financial Conduct Authority, the Australia Securities and Investment Commission and South Africa’s Financial Sector Conduct Authority. The broker’s LimeFx Markets arm is not subject to the same regulations as these entities. Customers have said that they wish they could trade additional products on Oanda, such as futures markets.
Oanda vs. LimeFx
Traders may choose to do social trading on LimeFx via ZuluTrade, where you can copy the trading strategies of the pros. On MT4, you can harness trading strategies such as scalping, expert advisors (EAs) and virtual private server (VPS) for no additional charge. In this article, we will compare two of the leading online brokers — Forex Capital Markets (LimeFx) vs. Oanda. All information on 55brokers.com is only published for general information purposes. We do not present any investment advice or guarantees for the accuracy and reliability of the information. Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site.
If you’re keen on using MT4, you might want to check out this list of the best MT4 brokers. Unlike OANDA, LimeFx has a fixed minimum deposit amount for its traders. 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 crypto spot trading through its partner and crypto service provider Paxos. OANDA Trade offers technical analysis tools including trade performance analytics to help you assess your trading performance. There’s also a trade journal to help you manage risk and make better decisions. Manage risk, trade through charts and take advantage of a currency-strength heat map.