By 2018, LimeFX was under new ownership with a new global CEO, longtime company executive Brendan Callan. Charging forward, LimeFX proceeded to add cryptocurrency baskets for retail traders along with a host of new targeted offerings for its B2B and data division clients. 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.
What is the minimum deposit requirement for opening an account with OANDA?
Its range of tradeable markets is fairly narrow, however, and the pricing at LimeFX is just average. Spread betting with LimeFX is available for UK residents and provides a tax-efficient way to trade. For more details on spread betting, you can check out this comprehensive guide for the best spread betting brokers. When limefx review it comes to funding options, both OANDA and LimeFX offer a variety of methods to suit different trader needs. OANDA provides the convenience of multiple payment options, including credit/debit cards, bank transfers, and PayPal.
But then again, Oanda requires an initial minimum of just $50 to fund a live trading account, while LimeFX requires a $300 minimum to fund the same. However, Oanda does offer a wider variety of options than LimeFX in each of their categories. Having said that, it is also widely known that the United States is the most restrictive forex marketplace on the planet. And in truth, the $7 million penalty the CFTC ordered LimeFX to pay is kind of like pocket change in a marketplace that turns over an estimated $5.1 trillion dailiy.
The posted support hours for phone and live chat are Sunday at 1pm to Friday at 6pm, which is a wider support window than what LimeFX offers. 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. limefx forex brokers reviews 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).
Account Types
This means not every available option may be featured on this page. We are dedicated to maintaining high editorial integrity and transparency during reviews or other posts. However, it’s important to note that some of the products we discuss are from our partners. 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 LimeFX. Having said that, if you use cards or Trustly as your payment option, both channels require at least $25 or equivalent.
Popular Forex Reviews
- Oanda’s average spread is 1.4 versus LimeFX’s average spread is 1.3.
- However, when we compare these spreads to the industry average, we find that both LimeFX and OANDA are offering competitive rates.
- Both are closely matched, but we chose LimeFX as our favoured broker in the Trading Experience category, so we gave them a score of 7 and OANDA a 6.
- LimeFX easily beats out Oanda in both the variety and the quality of their trading platforms for web (online) and desktop.
- Unfortunately, LimeFX gets some points deducted for the recent performance of their apps.
Based on our thorough, data-driven testing of each broker’s commissions and fees, we found that LimeFX offers better pricing overall for traders. 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. Picking between these industry leaders is an excellent way for traders, old or new, to jump-start their journey into trading.
The first model is a ‘spread only’ account where traders pay just the spread and no commission. 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. It’s important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Both LimeFX and OANDA offer Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), PayPal (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw).
Their powerful servers are protected by advanced encryption technology and firewalls to prevent unauthorized access. In addition to security measures, both companies have earned prestigious recognition from multiple trusted agencies worldwide—including the US CFTC & NFA, UK FCA, and Australia’s ASIC. OANDA offers traders a quick and convenient way to manage their finances with up-to-the-second charge/credit integrations. Depending on the type of instrument they’re trading and how long each trade lasts – this could be highly beneficial or detrimental. LimeFX, formerly known as Forex Capital Markets, is a London-based retail broker that enables people to speculate on the foreign exchange market. 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.
