The latter is better for retail clients because the matching algorithm always displays the best bid and ask prices from a multitude of different liquidity providers). A notable difference between LimeFX and Oanda is that clients of LimeFX have segregated trading accounts while clients of Oanda do not. The FCA , by which LimeFX is regulated, requires LimeFX to ensure a clear segregation between money belonging to retail clients limefx company reviews and money that belongs to itself. The funds are kept safe by top global banks and cannot be used to reimburse creditors in the unlikely case of LimeFX going bankrupt or insolvent. While Oanda is a market maker, LimeFX is an enhanced execution broker.

The platform offered us a wide range of order types and features a great search function. However, it lacks two-step authentication, which is an essential security feature. 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.

Trading Instruments

Plus, there are plenty of self-service resources via their websites, e.g., FAQs and tutorials. Have you ever been caught off guard by end-of-day rollover charges or credits? Well, LimeFX and OANDA are two currency brokers taking different approaches. With LimeFX, they use the conventional method of applying these fees at 5 pm EST daily – with a triple charge on Wednesdays due to weekend adjustments in advance. LimeFX is also a solid choice, especially if you’re interested in social trading or plan to trade in large volumes.

LimeFX: Better Trading Platform

1. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
2. LimeFX’s in-house education is above average, primarily consisting of articles, videos, and content produced for its YouTube channel.
3. The offer gives interesting choices for traders to explore other markets that may be proven beneficial for them and to diversify their trading portfolios.
4. We elected to focus our comparison on the no-commission account since the is the most popular option retail traders are likely to use, which we assume our readers will be.
5. As traders, we desire as many base currencies as possible and a sufficient range of leverage.

Check out our full Oanda review and LimeFX review for all the details on each broker. 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.

Typical Spreads and Fees

Interestingly, our tests captured OANDA as having lower minimum spreads and lower average minimum spreads as well. To achieve this, your best bet is to use some sort of automation, which is possible with both brokers. LimeFX is a global brokerage headquartered in the U.K that specialises in both retail and institutional trading with a comprehensive API offering. OANDA offers traders a quick and convenient way to manage their finances with up-to-the-second charge/credit integrations. Depending on the type of instrument they’re trading and how long each trade lasts – this could be highly beneficial or detrimental.

OANDA provides the convenience of multiple payment options, including credit/debit cards, bank transfers, and PayPal. LimeFX, on the other hand, also accepts credit/debit cards and bank transfers but adds the option of Skrill for traders who prefer e-wallets. 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 traders. The below table shows our test results for the no commission, standard account spreads for each broker.

Forex traders also appreciate the ability to engage in social copy trading. For traders who appreciate advanced trading tools and quality market research, LimeFX is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at LimeFX is just average. Spread betting with LimeFX is available for UK residents and provides a tax-efficient way to trade.

Our research is unbiased and independent; learn more about how we test. 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. Based on our analysis, LimeFX offers a slightly more comprehensive customer service experience, particularly with its educational webinars and in-depth responses. Should you be based in the UK, both brokers offer spread betting as an alternative to CFD trading. A market maker facilitates the process required to provide liquidity for trading pairs limefx review on centralised exchanges.