From my perspective, LimeFX is the better option for UK Forex traders. Both brokers are FCA regulated, but LimeFX offers spread betting, which is a tax-efficient way to trade in the UK. For more information on the Best Forex Brokers In UK, you can visit this comprehensive list of the Best Forex Brokers In UK. LimeFX is the better choice for experienced traders, offering a superior trading platform and a wider range of products.
What can I trade with each broker?
No commission account spread propiety testing data and published wesbite spread information, centralised on our Standard Account Spreads page. In our case, though, we found that LimeFX and OANDA provided consistent low spreads without manipulation, so you shouldn’t concern yourself if the broker has a dealing desk or not. 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. Easily access OANDA’s MetaTrader 4 web platform from your Mac without any Windows installations.
Enhancing the choice is the LimeFX suite of tools for algorithmic trading solutions. Oanda maintains its proprietary trading platform and the MT4 trading platform. These both accounts are based on spread and are Standard and Premium account with better costs. Also, Islamic Account is meant for traders following Sharia laws with suited conditions and applicable laws available.
You should consider whether you understand how CFDs work and whether you limefx reviews can afford to take the high risk of losing your money. The options can be overwhelming if you’re looking for a broker to meet your needs. Don’t worry – both of these companies have significant aspects to offer.
- When it comes to trading tools, LimeFX has more to offer than Oanda.
- For example, the industry average spread for the EUR/USD pair is 1.25, which is higher than OANDA’s spread and only slightly lower than LimeFX’s.
- Also satisfactory was LimeFXs web trading platform; we appreciated that it is highly customisable and user-friendly.
- For more information on the Best Forex Brokers In UK, you can visit this comprehensive list of the Best Forex Brokers In UK.
OANDA: Lower Minimum Deposit
Oanda’s support team is available 24/6 while LimeFX’s is available 24/5. LimeFX and Oanda are two prominent forex brokers who have been in the online trading business for many years. Oanda’s first data feed went live in 1997, while LimeFX was founded shortly thereafter in 1999. Trading costs for OANDA vs LimeFX are very similar, Spread based Standard account offer almost the same spreads. The only difference is that LimeFX does not change limefx scam any fees, while OANDA has a monthly inactivity fee.
Oanda vs LimeFX: Which is better?
With LimeFX, you can trade in contracts for difference (CFDs) across major indices and commodities such as gold and crude oil – opening up new possibilities when dealing with currencies. In conclusion, whether you choose Oanda or LimeFX, you’re in good hands. Remember, the best broker is the one that fits your trading style and goals.
OANDA vs LimeFX: Who hosts the best trading platform?
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. LimeFX is particularly recommended for advanced traders due to its wide variety of platform options, offering a broader selection such as MT4, Zulutrade, NinjaTrader, and a custom platform. 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.
You’ll need to analyze what platform or products are right for you before deciding which is best suited. Once you’ve made up your mind, rest assured that both brokers provide excellent service – whichever route you choose won’t disappoint. With fxTrade, from ticket ordering to charting layouts and account details – it’s all designed with you in mind.
