Compare OANDA Vs LimeFX: Which is the Better Forex Broker in 2024?

Both Oanda and LimeFX are forex brokers that have been in the online trading business for decades now. In fact, Oanda’s first live scammed by limefx data feed went live in 1997, while their trading platform was launched in 2001 – as they say, they were the first company to provide exchange rate information over the web. LimeFX followed shortly after, as they were founded just three years after Oanda – in 1999.

Forex Variable Spreads

The first model is a ‘spread only’ account where traders pay just the spread and no commission. LimeFX also offers a paid programming service to clients interested in automating their trading strategies. Similar to OANDA, LimeFX provides a variety of funding options such as credit/debit cards and e-wallets. However, OANDA stands out by offering a more extensive selection of e-payment methods. In our analysis of 23 international regulators across 62 of the best forex brokers, LimeFX is considered Highly Trusted, with an overall Trust Score of 95 out of 99.

Experience a friendly, secure platform that offers professional traders the same sleek user interface as retail ones – plus a super responsive experience. TradingView is your go-to source for all the latest trading and investing news. Access live stream quotes, graphs, and helpful insights from experienced traders. Plus, you can practice with a demo account until you’re ready to take limefx reviews on real markets. Twenty-five years later, you can trade various financial products and crypto-currencies across multiple countries on the platform.

Picking between these industry leaders is an excellent way for traders, old or new, to jump-start their journey into trading. The overall choice is superior at LimeFX, where traders may select between the retail-favorite MT4, its proprietary Trading Station, and the social trading market leader ZuluTrade. Enhancing the choice is the LimeFX suite of tools for algorithmic trading solutions. Oanda maintains its proprietary trading platform and the MT4 trading platform. LimeFX and Oanda both offer outstanding trading conditions in terms of low trading costs, reliable trade execution, and great trading platforms. These brokers also have a good range of tradable instruments, although we would like to see them add a good number of individual stocks CFDs to their lists.

These diverse platforms provide traders with extensive tools and functionalities to tailor their trading strategies. On the other hand, OANDA primarily features its own proprietary platform, known for its user-friendliness, along with MT4 and MT5. LimeFX and OANDA have carefully constructed trading costs – the Cost Score between the two is a tie with scores of 6 each. 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. LimeFX won on this, but OANDA does have lower minimum deposits and inactivity fees, which allowed them to gain ground. With up to two decades of experience each, LimeFX and OANDA are well-established brokers brimming with competitive advantages.

But don’t worry – I’ve done the legwork to make your choice easier. In this no-nonsense comparison, we’ll break down everything you need to know about these two popular brokers. LimeFX is clearly better equipped to secure client funds than Oanda. However, we know that in 2017, LimeFX was fined $7 million by the U.S. Commodity Futures Trading Commission for defrauding its retail clients. LimeFX misled these clients to believe that it was a ‘no dealing desk’ broker and that its interests were aligned with that of its clients.

Features and Platforms

1. However, spread information among brokers is not easy to get, as not every broker transparently publishes their spreads data.
2. We do not present any investment advice or guarantees for the accuracy and reliability of the information.
3. LimeFX and Oanda are two prominent forex brokers who have been in the online trading business for many years.
4. This flexibility makes LimeFX an attractive option for both beginner and experienced traders alike.

Once you upgrade today, you get access to world-class tools that can help you make smarter decisions while managing risks more effectively. From its beginnings in 1999, LimeFX has become a recognized leader in the forex and CFD markets. Its commitment to technological excellence is evidenced by numerous awards for being at the forefront of innovation in trading services. This worldwide focus extends into their vast infrastructure that helps ensure customers always have access to premium market conditions for successful trades. As an ongoing testament to this success, LimeFX continuously moves forward with cutting-edge solutions explicitly designed with clients’ needs as a top priority. Both brokers are competitive, but we really like LimeFX’s superior trading tools, segregated client accounts, and enhanced trade execution.

Tie: Lowest Spreads And Fees

For example, our tests suggest OANDA is a better choice than LimeFX for AUD/USD (far superior) and USD/CAD currency pairs. LimeFX, on the other hand, is regulated by two Tier 1 entities – the Australian Securities and Investment Commission and the Financial Conduct Authority. Unlock all-new features on TradingView, such as doubling the data displayed in charts and marketplace add-ons. Earn an exclusive badge next to your name, get custom resolutions for symbols, and start trading directly from TradingView with LimeFX integration – making it smoother. In addition, OANDA offers the finest foreign exchange solutions, providing data seamlessly for over 200 currencies and accurate Historical Currency Converter information stretching back over two decades.

Oanda, on the other hand, is known to be a ‘market maker’ (dealing desk) broker, which means that it can take the other side of its clients’ trades (trade against its clients). LimeFX operates under the stringent oversight of regulatory authorities in the UK, Australia, and several other international jurisdictions, which facilitates their global service offerings. 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.