Motorola Moto E
If the Lumia 530 has a nemesis then it's definitely the Moto E. It's around the same price, but it has a bigger battery and, more importantly, a superior display.
The Moto E's display is 4.3 inches and features a 960 x 540 pixel resolution, which gives it a rating of 256ppi. Despite being smaller the 530's resolution is limited at 854 x 480 pixels, giving it a lower 245ppi rating. It's not a huge gap, but it's significant as the screen is arguably the single most important component in your smartphone.
The 1980mAh battery in the Moto E also enables it to easily outlast the Lumia 530 with its 1430mAh battery.
We can call a tie on the 5MP cameras and 4GB of internal storage - although the pics on the Moto are superior. For processing power the Moto E has a dual-core Snapdragon 200, where the 530 has the quad-core version, but the Moto E has double the RAM and both phones sport the Adreno 302 GPU.
The only other thing to pick them apart is the platform and as much as Windows Phone 8.1 is a solid performer, it still lags behind Android in certain aspects, most notably app choice and quality. It might be a little closer if Cortana was included, but there's a disappointing delay with the UK release.
Sony Xperia E1
It's a much tighter competition when the Lumia 530 is pitched against the Sony Xperia E1. The displays are the same size, but the 530 edges the win with a slightly higher resolution – the E1's display is 800 x 480 pixels.
There's a similar close win in the processor stakes as the E1 has the same GPU and 512MB of RAM, but an older dual-core processor. Internal storage is the same at 4GB. The Lumia 530 scores a clearer win on the camera front, as the E1 only has a 3.2MP shooter.
Looking for something to recommend the E1 you could point to battery life and the Android platform, but there's little doubt that the Lumia 530 is a better smartphone.
Nokia Lumia 630
The Lumia 530 is not much of a step up from its predecessor, but if you are seeking something running Windows Phone 8.1 that does offer a little more then you might look at the Lumia 630.
Around an extra £40 will get you a much bigger 1830mAh battery and another 4GB of internal storage out the box. You also get a slightly better processor and GPU in the 630, a Snapdragon 400 and Adreno 305 respectively.
You may be worried that an extra half inch of screen with the same resolution gives it a lower 218ppi and that's true, but it has the ClearBlack polarizer which vastly improves contrast.
Pound for pound the Lumia 530 is a better bargain, but the 630 has started to drop in price and it may be a better fit for some - I'd recommend it if you were deciding between the two Windows Phones.