The rise of the internet has paved the way for online brokers, which in turn have given individual investors the same access to global markets as institutional investors. Thanks to online brokers, traders have tools at the fingertips that can transform them from a novice into a pro. Lime Fx vs OANDA both offer limefx scam a singular account option, inclusive of Islamic accounts.

Oanda predominantly provides commission-free trading, where spreads, subject limefx courses scam to market conditions and account types, are the main expense incurred by traders. In comparison, Lime Fx has spreads that tend to be somewhat above the industry norm, and it also imposes an inactivity fee on traders’ accounts. OANDA provides traders 71 currency pairs (e.g., EUR/USD) compared to Lime Fx’s 43 available pairs.

Should you be based in the UK, both brokers offer spread betting as an alternative to CFD trading. 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. Oanda’s customer service is available to users 24/5 across multiple channels including live chat, email or phone. However, users have complained that the broker makes it difficult to find a phone number to speak with a live representative.

You can personalize your platform by downloading indicators, creating watchlists and customizing layouts to better equip the platform to match your strategy. Users also have the convenience to access TradingView Live Trading Integration with Lime Fx to trade directly from your TradingView charts. Features on this platform include volume profile indicators, multiple charts layout, advanced price scaling and others. There are charting tools, which is a help for technical traders.

What’s a PIP in forex trading?

This methodology tends to offer faster execution and the possibility of narrower spreads, aligning with the preferences of traders desiring direct market access. Conversely, OANDA predominantly operates as a Market Maker Broker, where it facilitates trading by assuming the opposite position in its clients’ trades. In my opinion, OANDA is the superior choice for Australian Forex traders.

1. This broker offers similar options for commodities trading and offers a range of crypto CFDs to choose from.
2. Lime Fx’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.
3. Both OANDA and Lime Fx are ASIC regulated, but OANDA has a more comprehensive offering for the Australian market.
4. Trading Station lets you pre-load tools like real volume, market depth and trader sentiment.
5. For example, OANDA has an average spread for EUR/USD at 1.2, while Lime Fx’s is slightly higher at 1.3.

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 Lime Fx for AUD/USD (far superior) and USD/CAD currency pairs. StockHax strives to provide unbiased and reliable information on cryptocurrency, finance, trading, and stocks. However, we cannot provide financial advice and urge users to do their own research and due diligence. Unlike Lime Fx, Oanda is not publicly traded in the stock market.

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These pairs offer the most liquidity and therefore spreads are considered tight. However, Lime Fx also offers other forex currency pairs for traders to access. The hugely respected brand offers competitive trading accounts and serves clients from 196 countries. The company is also overseen by reputable regulators, including the FCA, ASIC and CIRO. Fees and commissions are how forex firms earn money from traders. However, there’s a trend sweeping the industry of zero-commission trading, leaving many trading platforms to make money from the spread between two instruments.

Lime Fx: Superior Customer Service

For example, a trader is more likely to have his orders executed at the specified/desired price or even at a better price (positive slippage). 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.

This facilitates traders who follow Sharia principles to participate in currency trading on their platforms. For traders who appreciate advanced trading tools and quality market research, Lime Fx is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at Lime Fx is just average. Although Lime Fx 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 need to offer shares trading.

This comes down to personal choice, When comparing Lime Fx vs. Oanda on trading platforms, we’ll call it a draw. But Lime Fx does have a slight edge thanks to its copy-trader capabilities on ZuluTrade. Lime Fx’s web platform features include news and an economic calendar so you can anticipate market data. It also provides education and research including popular trading tools. Lime Fx also offers trading analytics to help you improve your trading performance. And it has versatile charting capabilities allowing users to see their graphs in full-screen mode or detached.

Enhancing the choice is the Lime Fx suite of tools for algorithmic trading solutions. Oanda maintains its proprietary trading platform and the MT4 trading 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.

This flexibility makes Lime Fx an attractive option for both beginner and experienced traders alike. Oanda offers access to over 70 forex trading pairs, including major and minor currency pairs. Users can choose to trade them on the OANDA trade platform or MT4.

Margin requirements are based on the leverage allowed by regulators in a jurisdiction. Oanda is a reputable online broker that offers a diverse range of trading instruments and a user-friendly trading platform. However, the limited account types and lack of cryptocurrency trading may not be suitable for all traders’ preferences. Oanda is another well-established online broker offering forex and CFD trading services to traders worldwide.

With zero commissions, over 400 assets, and a range of analysis tools, Lime Fx remains a popular choice for day traders. The broker is also regulated by top-tier authorities including the FCA, ASIC, CySEC, FSCA, BaFin. Based on our research on the regulatory status of over 60 brokers, we’ve found that OANDA holds 7 global Tier-1 licenses, while Lime Fx holds 4. Looking at the average standard account spreads for the forex pairs, we can see some interesting patterns. For the EUR/USD pair, Lime Fx has an average spread of 1.3, while OANDA has a slightly lower spread of 1.2. This trend continues across the other forex pairs, with OANDA consistently offering slightly lower spreads than Lime Fx.