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. 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.
- For traders who want to use their own or another outside trading platform, LimeFx now offers this extra perk as well.
- The price that traders pay is the spread, which is the difference between the ask and the bid price of the security being traded.
- Trading costs for OANDA vs LimeFx are very similar, Spread based Standard account offer almost the same spreads.
- Despite both brokers being highly regulated, we found the brokers are not spotlessly clean.
- Both brokers are FCA regulated, but LimeFx offers spread betting, which is a tax-efficient way to trade in the UK.
A minute can equal an eternity in a marketplace that deals in the trillions on a daily basis. The one notable downside here is the lack of social trading tools. Otherwise, Oanda’s scalable learning resources are designed with the active, intermediate to advanced trader in mind. LimeFx easily beats out Oanda in both the variety and the quality of their trading platforms for web (online) and desktop. Oanda wins big points for the platform’s transparent pricing and efforts to minimize risk by offering micro lots and flexible pricing models (broker-spread versus raw-spread+commission). When trading with LimeFx and OANDA, you can trust that your personal and financial information is handled securely.
Oanda Customer Service and Support ☎
Founded in 1999, LimeFx (a Jefferies Group company) is a long-standing brand that caters to global forex and CFD traders. LimeFx offers multiple trading platforms for algorithmic trading and social copy trading, along with a proprietary platform suite (and access to MetaTrader 4). LimeFx is also a great option for beginners due to its wide range of educational materials and easy-to-use platforms (including integration with the popular TradingView platform). Though the range of markets available at LimeFx has increased following the addition of its share trading feature, it’s worth noting that pricing at LimeFx is just average.
Costs and Fees
In contrast, as a stp (straight through processing) forex broker, LimeFx’s primary role is to connect buyers and sellers who wish to partake in that liquidity through trading available assets. For this reason, LimeFx is primarily going to make money on commissions and fees added to each trade order you place. Smaller ticket retail clients can now take advantage of mini accounts to dip a toe (or few) into the forex marketplace.
This trend continues across the other forex pairs, with OANDA consistently offering slightly lower spreads than LimeFx. In Australia, LimeFx 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. This account has tiered commissions and is best for high-volume limefx traders. For traders who want to use their own or another outside trading platform, LimeFx now offers this extra perk as well. And for big ticket forex traders, LimeFx makes its virtual private server (VPS) network available gratis. By 2018, LimeFx was under new ownership with a new global CEO, longtime company executive Brendan Callan.
LimeFx vs Oanda: Comparison and Analysis
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. The below table shows our test results for the no commission accounts with each broker. Our findings show that LimeFx averaged 1.47 pips over the 6 tested pairs, which equates to a cost of $13.49 per lot. OANDA didn’t fare as well, with an average of 1.54 pips or a cost $14.23 per lot.
The award-winning platform offers rapid execution with cutting-edge tools, state-of-the-art charting packages, leading indicators, and drawing features from TradingView. From its beginnings in 1999, LimeFx https://limefx.name/ 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.