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LimeFx vs Oanda in 2024 A Detailed Comparison of Top Trading Platforms

However, when we compare these spreads to the industry average, we find that both LimeFx and OANDA are offering competitive rates. For example, the industry average spread https://limefx.vip/ for the EUR/USD pair is 1.25, which is higher than OANDA’s spread and only slightly lower than LimeFx’s. This pattern is consistent across all the forex pairs we analysed.

  1. With so much experience under their belt, it’s no surprise that both online traders gathered quite a loyal network of customers, attracting both professional and beginner traders.
  2. Both brokers are competitive, but we really like LimeFx’s superior trading tools, segregated client accounts, and enhanced trade execution.
  3. Well, LimeFx and OANDA are two currency brokers taking different approaches.
  4. It’s calculated on a per-position basis and encompasses an administrative fee as well as the interest differential of the trade.

LimeFx offers a range of research tools, including an economic calendar, market news and analysis, trading signals, and indicators to keep you informed and ahead of the game. The broker also provides access to Trading Central, an independent research provider with high-quality market analysis. Additionally, LimeFx’s educational materials cater to traders of all levels, featuring free live webinars, video tutorials, and extensive guides on trading concepts and platforms. Oanda offers its in-house trading platform, OANDA Trade, which is available through web, desktop, and mobile apps.

OANDA is better suited for beginner traders due to its lower minimum deposit and more straightforward account features. OANDA offers a slightly more versatile range of funding options, including PayPal, making it more convenient for a broader spectrum of traders. Should you be based in the UK, both brokers offer spread betting as an alternative to CFD trading. OANDA also supports the widely popular MetaTrader 4 (MT4) platform but has its own trading platform called OANDA Trade Web and OANDA Trade Mobile. We thought the outstanding feature of the web version is that it comes with TradingView for advanced charting and a guaranteed stop loss, but we were disappointed it is not available for the web.

In doing so, we often feature products or services from our partners. However, the opinions and reviews published here are entirely our own. All in all, the two brokers are a solid choice regardless of which one you decide to go with. And if you want to learn more about either of them, check out our more detailed LimeFx and Oanda reviews. Get ultimate control of your trades when you set Stop Loss and Take Profit orders before executing them.

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There is also a plugin traders can use to integrate with their own MT4 platform as desired. Oanda’s average spread is 1.4 versus LimeFx’s average spread is limefx official site 1.3. But then again, Oanda requires an initial minimum of just $50 to fund a live trading account, while LimeFx requires a $300 minimum to fund the same.

FAQs Comparing LimeFx Vs OANDA

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.

Fees on Indices

LimeFx provides news updates on markets like forex and cryptocurrencies as well as market data and other forex and CFD resources plus investment insights. This broker offers a trio of APIs (fix, java and forex) that connect directly to its server. But Oanda offers more options with either a spread-only or a core-pricing plus commission model.

We found that LimeFx and OANDA are close in this category, but LimeFx edged out OANDA. Of course, if we had chosen different currency pairs or tested on a different date, the results might have been different. For example, our tests suggest OANDA is a better choice than LimeFx for AUD/USD (far superior) and USD/CAD currency pairs. Beginning traders may find LimeFx’s learning portal less overwhelming to organize and make use of. Trading Station is available for use on online (web), desktop and mobile. The platform is also built to use HTLM5, which is Macintosh-friendly.

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