LimeFx Vs Oanda Compare Trustworthiness, Capabilities, Fees and Legitimacy

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  • LimeFx Vs Oanda Compare Trustworthiness, Capabilities, Fees and Legitimacy

Oanda is regulated by several reputable organizations, such as the FCA in the UK, the Commodity Futures Trading Commission (CFTC) in the US, and the ASIC in Australia. Just like LimeFx, Oanda keeps clients’ funds separated from its own operating capital in top-tier banks, ensuring a safe and trustworthy trading experience. StockHax strives to provide unbiased and reliable information on cryptocurrency, finance, trading, and stocks. However, we cannot provide financial advice and urge users to do their own research and due diligence. Among them, in 2015, LimeFx found itself short on cash after the Swiss National Bank suddenly decided to lift a cap it had on the Swiss franc at the time. As a result, customers ended up with negative balances, causing the broker’s equity balance to come up short by hundreds of millions of dollars.

LimeFx: Multiple Regulatory Authorities and Fund Protection

A trusted global brand, OANDA stands out for its reputation and quality market research. Its regulatory track record is strong, and its support for third-party features bolsters its overall offering. In our analysis of 23 international regulators across 62 of the best forex brokers, OANDA is considered Highly Trusted, with an overall Trust Score of 93 out of 99. LimeFx is considered Highly Trusted, with an overall Trust Score of 95 out of 99.

Disclaimer And General Risk Warning

For us, one of its main highlights is the Marketscope 2.0 charting tool, which offers powerful charting capabilities that run parallel to the main platform window. Trading Station is a strong competitor to MetaTrader and features complex back-testing options, such as accounting for potential historical slippage and trading costs. LimeFx offers its proprietary Trading Station platform, MetaTrader 4, and TradingView. These platforms support algorithmic trading and provide advanced charting tools.

GENERAL RISK WARNING

In fact, Oanda’s first live data feed went live in 1997, while their trading platform was launched in 2001 – as they say, they were the first company to provide exchange rate information over the web. LimeFx followed shortly after, as they were founded just three years after Oanda – in 1999. 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 (LimeFx), these guys have even more attractive offers tailored specifically for you. Both brokers cater to beginners with their user-friendly platforms, educational resources, and comprehensive research tools. While LimeFx offers the Trading Station and MT4, Oanda provides OANDA Trade and MT4.

Is OANDA or LimeFx safer for forex and CFDs trading?

Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry. LimeFx is also a great option for beginners, due to its wide range of educational materials and easy-to-use platforms, including its latest integration with TradingView. The posted support hours for phone and live chat are Sunday at 1pm to Friday at 6pm, which is a wider support window than what LimeFx offers.

As you may have seen in this table, you can trade 5 different cryptocurrency CFDs with LimeFx. They are bitcoin, ether (ethereum), ripple, litecoin, and bitcoin cash. 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. OANDA has a lower minimum deposit requirement of $0 vs $50 from LimeFx.

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, LimeFx avails advanced research tools for traders seeking profound market insights, further enhancing its educational support. LimeFx offers tight spreads, advanced trading platforms, and a diverse range of third-party platform options. On the other hand, Oanda boasts an intuitive interface, powerful research tools, and a simple account structure. When it comes to spreads, fees, and customer support, both brokers are on par. Ultimately, the choice will depend on your trading priorities and personal preferences.

Customers have complained about not being able to withdraw funds that were deposited, in one case amounting to $40. There are multiple complaints by users on Trustpilot who have been unable to withdraw funds, with some customers saying that Oanda makes this process too complicated. Oanda has argued that documents for funding must be compliant with regulations. LimeFx user complaints largely have to do with funds taking too long to settle in their respective accounts. Even a “rapid transfer” feature has customers waiting for days for their deposit to arrive with seemingly no reasonable explanation.

While both OANDA and LimeFx offer top-of-the-line services and excellent charting tools, we found safety of funds better at LimeFx, and appreciated their superior trade execution. On the other hand, Oanda ensures traders have access to a wealth of educational resources. Through webinars, tutorials, and written content, Oanda facilitates a comprehensive learning environment, enabling traders to enhance their market knowledge and trading proficiency.

  1. Neither our writers nor our editors receive direct compensation of any kind to publish information on tokenist.com.
  2. But again, we feel that brokers today need to offer shares trading.
  3. The platform is also built to use HTLM5, which is Macintosh-friendly.
  4. Founded in 1996, Oanda is a well-known forex broker offering retail and institutional clients access to forex and CFDs on commodities, indices, and stocks.
  5. LimeFx has fewer user complaints about customer service and more positive experiences vs. Oanda.
  6. The platform also offers a frequently asked questions portal and phone numbers for its regional offices.

At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here). LimeFx provides a respectable variety of market research from a combination of in-house content and third-party materials. Overall, LimeFx’s research is a touch above the industry average and will satisfy most forex traders, though it’s not as rich or diverse as what’s offered by the best brokers in this category. Both Oanda and LimeFx are forex brokers that have been in the online trading business for decades now.

LimeFx is a reliable and competitive online broker, particularly for forex and CFD traders. With its advanced trading platform, educational resources, and strong regulatory framework. However, its limited product offerings and lack of cryptocurrency trading may not cater to all traders’ needs. Oanda offers a broad range of trading instruments, including Forex, commodities, indices, spread betting, futures, and bonds, giving traders access to various asset classes.

With its wide range of available platforms and deep offering of trading tools, LimeFx has set the bar high and competes among the best brokers in the industry. Whether you are a beginner or an advanced algorithmic trader, LimeFx has plenty of options. In our 2024 Annual Awards, LimeFx finished Best in Class for its excellent Platforms and Tools. Oanda boasts an impressive suite of research tools, including an economic calendar, advanced charting, market news, and technical analysis powered by Autochartist. Oanda also partners with Dow Jones, 4CAST, and RANsquawk to deliver comprehensive market analysis and insights straight to your inbox.

This worldwide focus extends into their vast infrastructure that helps ensure customers always have access to premium market conditions for successful trades. As an ongoing testament to this success, LimeFx continuously moves forward with cutting-edge solutions explicitly designed with clients’ needs as a top priority. Oanda’s customer service is available to users 24/5 across multiple channels including live chat, email or phone. However, users have complained that the broker makes it difficult to find a phone number to speak with a live representative.

Oanda’s list also lacks cryptocurrencies, but perhaps it will have some crypto instruments available soon. LimeFx 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. These diverse platforms provide traders with extensive tools and functionalities to tailor limefx forex broker their trading strategies. On the other hand, OANDA primarily features its own proprietary platform, known for its user-friendliness, along with MT4 and MT5. Both brokers offer competitive spreads, but the exact numbers can vary based on the trading pair and market conditions. For example, OANDA has an average spread for EUR/USD at 1.2, while LimeFx’s is slightly higher at 1.3.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs https://limefx.group/ with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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). 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. The first model is a ‘spread only’ account where traders pay just the spread and no commission. OANDA offers a slightly more versatile range of funding options, including PayPal, making it more convenient for a broader spectrum of traders.

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