Unfortunately, recent Lime Fx users give both the iOS/Apple and Android apps poor reviews over the last few months. However, Oanda does offer a wider variety of options than Lime Fx in each of their categories. Today, the “clean up Lime Fx’s reputation” project is going as well as can be expected, considering they are still not able to accept United States traders. He has Finance degree at Monash University and is an investor in shares and equities and successfully started and sold the online business Hearing Choices. 50 units of the account's base currency yearly after 1 year of inactivity. In 1997, OANDA ushered in a new era of free exchange rate information when it became the first to make this data available online.

So Is OANDA or Lime Fx The Best Broker?

From its beginnings in 1999, Lime Fx 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, Lime Fx continuously moves forward with cutting-edge solutions explicitly designed with clients’ needs as a top priority.

Long hold times, slow responsiveness to urgent queries and difficulty navigating the website to find the correct support contacts are some of the top complaints. Oanda offers a live chat virtual assistant that is available 24 hours a day five days a week. The platform also offers a frequently asked questions portal and phone numbers for its regional offices. Oanda wins big points for the platform’s transparent pricing and efforts to minimize risk by offering micro lots and flexible pricing models (broker-spread versus raw-spread+commission).

What funding options does each broker offer?

In the U.S., the CFTC regulates OANDA, which is also a member of the NFA. All information on 55brokers.com is only published for general information purposes. We do not present any investment advice or guarantees for the accuracy and reliability of the information. Overall, customer surveys indicate Lime Fx is more responsive to trader needs and more professional in how inquiries are handled. 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 Lime Fx’s average spread is 1.3.

We gave Lime Fx and OANDA both a score of 8 as they are heavily regulated and hold positive reputations within the forex trading industry. We gave Lime Fx a Trading Platform score of 7 and OANDA a 6 because of Lime Fx’s Marketscope 2.0 charting tool. Like Lime Fx, 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. It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Both Lime Fx and OANDA offer Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), PayPal (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw).

We know what that's like....and that's why we're giving you the bottom line at the top of this page. While both OANDA and Lime Fx offer top-of-the-line services and excellent charting tools, we found safety of funds better at Lime Fx, and appreciated their superior trade execution. In my opinion, OANDA is the superior choice for Australian Forex traders. Both OANDA and Lime Fx are ASIC regulated, but OANDA has a more comprehensive offering for the Australian market.

Lime Fx easily beats out Oanda in both the variety and the quality of their trading platforms for web (online) and desktop. Lime Fx and Oanda offer daily market commentaries and frequent webinars to assist and educate their traders. Both brokers also have really good client support systems in place. Oanda’s support team is available 24/6 while Lime Fx’s is available 24/5.

In this case, OANDA provides their pricing withFixed spread while Lime Fx offersFixed spread. Considering that spread is a trading cost, the lower the spread, the better it is for traders. However, spread information among brokers is not easy to get, as limefx scam not every broker transparently publishes their spreads data. What this means is that both forex brokers have seen competitors come and go…and come and go…and come and go. It says something to achieve this kind of multi-decade longevity in a field as tumultuous and risky as the forex marketplace.

Lime Fx: Better Trading Platform

Lime Fx also offers a paid programming service to clients interested in automating their trading strategies. Unlike OANDA, Lime Fx has a fixed minimum deposit amount for its traders. On the subject of leverage, it helps if you can reduce the risk of slippage; for this reason, execution speed can make a difference. We tested the Execution Speeds of Lime Fx and found they have an average execution speed of 108 ms for Limit Orders and 123 ms for Market Orders. In this review, we looked at how the Forex broker OANDA and Lime Fx compare. Both have their own trading platform plus MT4 and TradingView, along with (mostly) no commissions.

1. This flexibility makes Lime Fx an attractive option for both beginner and experienced traders alike.
2. Spread betting with Lime Fx is available for UK residents and provides a tax-efficient way to trade.
3. Oanda gave us the edge to choose more bonds and treasuries, which we really liked.

However, it’s important to note that some of the products we discuss are from our partners. Please see our reports on best UK brokers and Australian brokers. If you can overlook the somewhat scattershot organization of Oanda’s educational tools, overall you will find a comprehensive suite of resources from which to do your own research. Trading Station is available for use on online (web), desktop and mobile.

The FCA , by which Lime Fx is regulated, requires Lime Fx to ensure a clear segregation between money belonging to retail clients 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 Lime Fx going bankrupt or insolvent. To compare the two brokers, we used their ‘spread only’ accounts and we found that their spreads were about the same. For example, during a typical trading day, their spreads on the EUR/USD were found to be in the region of 1.2 pips, which is quite decent. Both brokers use floating spreads, which means that their spreads vary frequently.

One year after limefx Lime Fx began its long descent into scandal, Oanda released what is still a seminal manifesto in the forex marketplace, the Forex Trader’s Bill of Rights. The OANDA subsidiary with whom a client contracts depends on their country of residence. Each subsidiary provides different products via different platforms, so clients will experience OANDA differently depending on their country of residence.

Is OANDA or Lime Fx better in providing the trading instruments?

No commission account spread propiety testing data and published wesbite spread information, centralised on our Standard Account Spreads page. OANDA has a lower minimum deposit requirement of $0 vs $50 from Lime Fx. Having said that, if you use cards or Trustly as your payment option, both channels require at least $25 or equivalent. We consider both brokers a toss-up with commodities as they have virtually equal offerings. Oanda gave us the edge to choose more bonds and treasuries, which we really liked.