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 limefx official site need to offer shares trading. A market maker facilitates the process required to provide liquidity for trading pairs on centralised exchanges. In the forex industry, market makers often have a bad reputation because some brokers display worse bid/ask prices than ECN brokers.
- LimeFx user complaints largely have to do with funds taking too long to settle in their respective accounts.
- Traders can speculate on 68 major, minor and exotic currency pairs.
- Easily access OANDA’s MetaTrader 4 web platform from your Mac without any Windows installations.
- They also have quite an extensive collection of educational tools, which can be especially beneficial for beginning traders.
When it comes to trading tools, LimeFx has more to offer than Oanda. In LimeFx’s app store, you can access various types of technical indicators, add-ons, and automated trading strategies (trading bots). LimeFx’s customer service is available to users 24/5 across several channels like WhatsApp, email, connect with a specialist via live web chat or phone. The broker describes its own support as friendly and professional.
Conclusion on OANDA vs LimeFx
Oanda offers over 70 forex pairs, providing traders with ample opportunities to explore different markets and diversify their portfolios. Oanda provides 24/5 customer support through live chat, email, and phone. Additionally, it offers a comprehensive FAQ section, platform support, and access to a community support page for peer-to-peer assistance. LimeFx offers tight spreads, with its average spread on EUR/USD being just 1.3 pips.
Experienced traders in particular are well-served by Oanda’s research and resource offerings. Oanda’s mobile app for iOS/Apple is a https://limefx.vip/ hit with traders as the recent reviews will attest. Unfortunately, the same does not hold true for the Android version of the app.
Oanda’s Dynamic Duo: OANDA Trade and MetaTrader 4
Although Oanda has no cryptocurrency and basket instruments, it has more stock indices (16 vs 11) and bonds (6 vs 1) than LimeFx. Although LimeFx has fewer instruments than Oanda, it has a very good variety. A PIP represents a unit of measurement that’s the smallest price move in the exchange rate of the currency you’re trading. These are derivative products that let you trade a fraction of the value of the asset you’re trading.
Spreads and Commission
LimeFx and Oanda both operate in multiple jurisdictions and are highly regulated in major markets. LimeFx has fewer user complaints about customer service and more positive experiences vs. Oanda. One Oanda trader on Reddit complained that they charged inactivity fees but were never made aware of the policy around this issue. 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.
On deposits via debit card or ACH, this broker refrains from charging for your first withdrawal each calendar month. They also waive broker applied fees and company bank fees for premium clients. We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly. In his role, David works with a team of writers to develop content for the site, this includes planning future content and editing and proofing existing works. David also has deep knowledge of the Forex industry and spends substantial time fact-checking the accuracy of the information about the brokers for the website.
Account Types
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. Currently headquartered in London, Oanda has a strong global presence. Its intuitive trading platforms, OANDA Trade and MetaTrader 4 (MT4), combined with powerful research tools, provide ample opportunities for traders to prosper in the financial markets.