Trading Station is a strong competitor to MetaTrader and features complex back-testing options, such as accounting for potential historical slippage and trading costs. LimeFX offers its proprietary Trading Station platform, MetaTrader 4, and TradingView. These platforms support algorithmic trading and provide advanced charting tools. Based on this data, I would argue that OANDA is the cheaper option in terms of spreads. However, it’s important to remember that spreads are just one aspect of the cost of trading. Other factors, such as commission fees and account types, can also impact the overall cost.
LimeFX: Top Product Range And CFD Markets
The hugely respected brand offers competitive trading accounts and serves clients from 196 countries. It remains a popular option with both beginners and experienced traders thanks to its user-friendly and sophisticated web platform, no minimum deposit and premium currency products and services. The company is also overseen by reputable regulators, including the FCA, ASIC and CIRO. Oanda stands out limefx reviews by offering competitive spreads and waiving the requirement for a minimum deposit, enhancing accessibility for traders across various experience levels. Conversely, LimeFX presents a wide spectrum of markets and instruments, paired with low floating spreads, to cater to a multitude of trading strategies.
However, spread information among brokers is not easy to get, as not every broker transparently publishes their spreads data. You can unlock the full potential of your forex trading with FX Blue Labs. Access 15+ indicators and nine Expert Advisors (EA) in one download – all for free only when you trade on OANDA MT4 or MT5. Other popular features, such as Renko charts, OCO orders, and advanced trader management, are also available to give you better control over your trades.
Deposit and Withdrawal
Yes on bank transfer withdrawals depending on location (from $10 to $40 on local currency). 50 units of the account’s base currency yearly after 1 year of inactivity. Trading can be daunting, but the right broker could set you on the path to success. We’ve compared two of the best brokers – LimeFX and OANDA – so finding your perfect limefx review match is even easier.
- There’s a remarkable difference between LimeFX and Oanda when it comes to the way they apply rollover charges and credits.
- When choosing a broker, the most important detail is to check the broker is regulated in the country you are resident in.
- Unlock all-new features on TradingView, such as doubling the data displayed in charts and marketplace add-ons.
- LimeFX operates in a dual capacity, functioning both as a Market Maker and an STP Broker.
Brokers By Platforms
You can begin with a small investment, learn the ropes easily, and keep more of your profits thanks to the tight spreads. However, this is just my personal take based on what I value most as a trader. LimeFX 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.
The FCA , by which LimeFX is regulated, requires LimeFX 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 LimeFX going bankrupt or insolvent. While Oanda is a market maker, LimeFX is an enhanced execution broker. What this boils down to is that LimeFX is more likely to have better effective spreads than Oanda. 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.
The reliable Exchange Rates API meets the demands of thousands of global businesses by automatically delivering real-time spot rates to their ERP systems, TMSs, digital products, apps, or websites. With access to more than currency pairs from 25 central bank exchanges worldwide, it’s no wonder why LimeFX’s services have become a gold standard in corporate FX solutions. Yes, LimeFX and Oanda both offer beginner traders education, research, and quality trading tools.