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.
Does OANDA or LimeFX Have Lower Costs?
In LimeFX’s app store, you scammed by limefx can access various types of technical indicators, add-ons, and automated trading strategies (trading bots). 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. OANDA is better suited for beginner traders due to its lower minimum deposit and more straightforward account features.
- On the other hand, LimeFX flipped the score by offering 7 cryptocurrencies versus OANDA’s 4.
- The trading platform is essential as you can’t execute a trade without it.
- Based on this data, I would argue that OANDA is the cheaper option in terms of spreads.
- We gave LimeFX a Trading Platform score of 7 and OANDA a 6 because of LimeFX’s Marketscope 2.0 charting tool.
LimeFX: Top Product Range And CFD Markets
Both brokers excel in customer support, offering a range of services including telephone, live chat, and email assistance, ensuring that traders receive timely and helpful responses. Additionally, LimeFX avails advanced research tools for traders seeking profound market insights, further enhancing limefx courses scam its educational support. LimeFX also wins when it comes to trading tools available and the multiple trading platforms their traders can access. Unfortunately, at the moment, Oanda only has its proprietary platform and MT4. It is widely known that forex brokers offer other trading instruments other than currency pairs. The offer gives interesting choices for traders to explore other markets that may be proven beneficial for them and to diversify their trading portfolios.
Which Broker Offers Social Trading?
Our findings show that LimeFX averaged 1.47 pips over the 6 tested pairs, which equates to a cost of $13.49 per lot. OANDA didn’t fare as well, with an average of 1.54 pips or a cost $14.23 per lot. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you 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.
As you may have seen in this table, you can trade 5 different cryptocurrency CFDs with LimeFX. They are bitcoin, ether (ethereum), ripple, litecoin, and bitcoin cash. However, the payments we receive can influence the products, companies, or services we highlight and evaluate. This means not every available option may be featured on this page.
Is OANDA or LimeFX better in providing the trading instruments?
Oanda’s list also lacks cryptocurrencies, but perhaps it will have some crypto instruments available soon. To compare the trading platforms of both LimeFX and OANDA, we tested each broker’s trading tools, research capabilities, and mobile apps. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker’s commissions and fees, we found that LimeFX offers better pricing overall for traders. In a typical trading day across all markets – from EUR/USD and beyond – their spreads were identical, with each around 1.2 pips; that’s pretty good news for investors. And if you’ve got an extra-large account or are willing to commit to some severe monthly turnovers (LimeFX), these guys have even more attractive offers tailored specifically for you.
This flexibility makes LimeFX an attractive option for both beginner and experienced traders alike. In conclusion, deciding the better broker eventually comes down to your consideration. If you are an active trader, it is better to choose a broker with a variable spread that is generally lower than the fixed one. For the trading platform, MetaTrader 4 is the standard choice for every trader. But if you want to have a different experience with a more advanced platform, choose the broker that provides alternative platforms. The same goes for trading instruments; if you want to try delving into different markets, seek for a broker with more options on trading instruments.