We gave LimeFX and OANDA both a score of 8 as they are heavily regulated and hold positive reputations within the forex trading industry. 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 Speeds of LimeFX and found they have an average execution speed of 108 ms for Limit Orders and 123 ms for Market Orders. Fintech-Insight is dedicated to delivering unbiased and dependable insights into cryptocurrency, finance, trading, and stocks.
Both brokers have their strengths, and either could be a good fit depending on your specific needs. You can begin with a small investment, learn the ropes easily, and keep more of your profits thanks to the tight spreads. limefx However, this is just my personal take based on what I value most as a trader. LimeFX and Oanda offer daily market commentaries and frequent webinars to assist and educate their traders. Both brokers also have really good client support systems in place.
Which Broker Offers Social Trading?
Yes, LimeFX and Oanda both offer beginner traders education, research, and quality trading tools. LimeFX takes the lead in this category, as it features Capitalise AI, a code-free service to automate trading strategies, and broader support for copy and social trading. Trying to choose between OANDA vs LimeFX, but can’t decide which Broker is better Broker for your trading strategy?
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. The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe.
Trading Instruments
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. Considering that spread is a trading cost, the lower the spread, the better it is for traders. However, spread information among brokers is not easy to get, as not every broker transparently publishes their spreads data. You can unlock the full potential of your forex trading with FX Blue Labs. Access 15+ indicators and nine Expert Advisors (EA) in one download – all for free only when you trade on OANDA MT4 or MT5.
- LimeFX, formerly Shalish Capital Markets, has been at the forefront of foreign exchange trading since 1999.
- Additionally, OANDA hosts frequent webinars covering various trading topics and maintains an archive of past webinars for on-demand viewing.
- Rollover charges/credits are triple on Wednesdays because the coming Saturday and Sunday’s rollover charges/credits are billed in advance.
- 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.
- Oanda and the LimeFX group of companies are regulated by different top-tier financial authorities around the world.
LimeFX vs OANDA Comparison
For more details on spread betting, you can check out this comprehensive guide for the best spread betting brokers. Although LimeFX has fewer forex pairs to trade, we feel they deserve a higher Tradable Products score than OANDA primarily because of OANDA’s lack of shares to choose from. OANDA is no slouch with 68 forex pairs, and we note that as a positive. But again, we feel that brokers today need to offer shares trading. LimeFX and OANDA are both market-maker brokers with identical leverage offerings. As traders, we desire as many base currencies as possible and a sufficient range of leverage.
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. Based on this data, I would argue that OANDA is the cheaper option in terms of spreads. However, it’s important to remember that spreads are just one aspect of the cost of trading.
74.74% of retail investor accounts lose money when trading CFDs with LimeFX. OANDA provides traders 68 currency pairs (e.g., EUR/USD) compared to LimeFX’s 43 available pairs. When it comes to funding options, both OANDA and LimeFX offer a variety of methods to suit different trader needs.
To compare the trading platforms of both LimeFX and OANDA, we tested each broker’s trading tools, research capabilities, and mobile apps. If social trading is a key factor for you, you may need to look at other brokers. For more options, you can explore this list of the best social trading platforms. 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. For more information on low-cost trading, you limefx can visit this comprehensive Lowest Commission Brokers.