LimeFX uses the conventional method of applying rollover credits/charges at the end of the trading day (5 pm EST). Rollover charges/credits are triple on Wednesdays because the coming Saturday and Sunday’s rollover charges/credits are billed in advance. We are dedicated to maintaining high editorial integrity and transparency during reviews or other posts. However, it’s important to note that some of the products we discuss are from our partners.
Platforms
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. It’s important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Both LimeFX and OANDA offer Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), PayPal (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw).
Brokers By Licenses
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 limefx scam 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.
- Based on this data, I would argue that OANDA is the cheaper option in terms of spreads.
- When acting as an STP Broker, LimeFX directly routes traders’ orders to liquidity providers, avoiding the role of a counterparty.
- Of course, if we had chosen different currency pairs or tested on a different date, the results might have been different.
- In this case, OANDA provides their pricing with Fixed spread while LimeFX offers Fixed spread.
- On the subject of leverage, it helps if you can reduce the risk of slippage; for this reason, execution speed can make a difference.
LimeFX vs OANDA Comparison
Twenty-five years later, you can trade various financial products and crypto-currencies across multiple countries on the platform. 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 limefx reviews States are not eligible to apply for a live trading account with LimeFX, while Oanda’s services are available to U.S. residents.
In the forex industry, market makers often have a bad reputation because some brokers display worse bid/ask prices than ECN brokers. The CompareForexBrokers team wanted to see how the two brokers compared when it came to spread costs, so we went and tested. For this exercise, we tested 6 major currency pairs over a 24-hour period (AUD/USD, EUR/USD, GBP/USD, USD/CAD, USD/CHF and USD/JPY) and then averaged the spread across the currency pairs. They have dedicated teams in multiple regions to ensure customer support can be provided in the trader’s native language.
Both are closely matched, but we chose LimeFX as our favoured broker in the Trading Experience category, so we gave them a score of 7 and OANDA a 6. LimeFX offers its proprietary Trading Station platform, MetaTrader 4, and TradingView. These platforms support algorithmic trading and provide advanced charting tools. However, when we compare these spreads to the industry average, we find that both LimeFX and OANDA are offering competitive rates.
To support their clients, OANDA enables trading with FxTrade App, MetaTrader 5, Oanda Platform, MetaTrader 4. When trading with LimeFX and OANDA, you can trust that your personal and financial information is handled securely. Their powerful servers are protected by advanced encryption technology and firewalls to prevent unauthorized access. In addition to security measures, both companies have earned prestigious recognition from multiple trusted agencies worldwide—including the US CFTC & NFA, UK FCA, and Australia’s ASIC. OANDA helps you get ahead of the market trends with automated chart pattern recognition and quality indicators. Use AutoChartist’s technical analysis for your MT4 or MT5 platforms, or access it through MetaTrader with a simple web-based interface.