Oanda vs XM - Fees Review included
Which broker is better Oanda or XM? Our expert assessment conducted according to TU’s own methodology showed that Oanda is one of the top brokers in the financial market with the TU Overall Score of 6.79 out of 10. XM is one of the top brokers in the financial market with the TU Overall Score of 9 out of 10. Find out more about TU Overall Score.
| Feature | Oanda | XM |
|---|---|---|
Overall |
4.4 |
4.5 |
5 |
4.9 |
|
4.5 |
4.3 |
|
3.5 |
4.4 |
|
Investment Instruments |
4.1 |
4.4 |
Platforms and Charting Tools |
4.8 |
4.6 |
Deposit and Withdrawal |
4.2 |
4.7 |
Research |
4.7 |
5 |
Education |
4.5 |
5 |
Support |
4.8 |
4.6 |
Bonuses |
4.6 |
5 |
|
|
|
Oanda vs XM: Pros and Cons
Olsen & Associates, also known as OANDA, is a US-registered company set up to offer a plethora of financial services to clients around the world. Its history goes as far back as 1996, and it is now under regulation in four jurisdictions. The broker has licenses from different regulators, of which the United Kingdom Financial Conduct Authority (FCA) is the major one.
XM Broker was founded in 2009. Initially, the company covered a narrow niche of the trader market, specializing exclusively in intermediary services at the foreign exchange market. It has since experienced considerable success and growth. XM is reliable and safe. It has diversified and is now an international broker operating in almost 190 countries around the world. For over a decade XM Broker has attracted 3,5 million traders, offering unique technological solutions. The company is now being recognised as the Fastest Growing Broker, the Best Forex Service Provider and various other contributing achievements. The team at XM Broker is committed to continually working hard to improve the quality of the services provided every year as they are committed to continually providing the best service to their traders.
| Oanda | XM | |
|---|---|---|
| Overall Pros | Regulated by a range of reputable financial bodies | Well-Regulated broker |
| Real-time news and fundamental analysis tools | Strong research tools | |
| localized and multilingual phone support | Strong education | |
| User-friendly platform for new forex traders | Big Forex bonuses | |
| Outstanding research tools | Free deposit and withdrawal | |
| Financial information publicly available | Instant withdrawal | |
| High educational value through written content and videos | 1000+ trading assets | |
| Orders get executed with no requotes | ||
| Deposit minimum as low as $1 | ||
| Overall Cons | No programs offering bonus | High spreads |
| Slow withdrawal of funds |
Oanda vs XM: Safety and Regulation
| Oanda | XM | |
|---|---|---|
Max. Regulation Level |
Tier-1 |
Tier-1 |
Investor protection |
£85,000 SGD 75,000 $500,000 |
£85,000 €20,000 |
FCA UK Regulation |
Yes |
No |
FINRA (U.S) |
No |
No |
BaFin (Germany) |
No |
No |
ASIC (Australia) |
Yes |
No |
CFTC (U.S) |
Yes |
No |
MAS |
Yes |
No |
FSCA SA |
No |
Yes |
BVI FSC |
Yes |
No |
VFSC |
No |
No |
FSA (Seychelles) |
No |
Yes |
Oanda vs XM: Trading Conditions
| Trading Conditions | Oanda | XM |
|---|---|---|
Minimum Deposit |
No minimum deposit |
$5 |
Trading Platforms |
MT4, OANDA, TradingView |
MT4, MT5 |
Max Leverage (Futures) |
1-50 |
1:888, 1:30 (for EU, UK clients) |
Supported Markets |
Forex, CFDs (not for all entetities): Forex, Indexes, Commodities, Metals, Bonds, Cryptocurrencies |
Forex, CFDs on indices, commodities, crypto, metals, stocks |
Trading assets |
120+ |
1300+ |
Trading Accounts |
Standard, Core, and Swap-free |
Micro, Standard, Ultra Low, Zero |
Base Account Currencies |
USD, EUR, HKD, SGD |
USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR |
Oanda vs XM: Fees
| Oanda | XM | |
|---|---|---|
Standard acc. spread EUR/USD, min pips |
0,1 |
0,7 |
Standard acc. spread EUR/USD, max pips |
0,5 |
1,2 |
ECN Commission |
3,5 |
3,5 |
ECN Spread EUR/USD |
0,15 |
0,2 |
Deposit fee, % |
No |
No |
Withdrawal fee, % |
No |
No |
Withdrawal fee, USD |
0-15 |
No |
Inactivity fee, $ |
No |
10 |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Oanda vs XM: Trading Assets
| Asset Name | Oanda | XM |
|---|---|---|
Overall |
120+trading assets |
1300+ |
Forex |
Yes |
Yes |
Stocks |
No |
Yes |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
No |
Yes (CFD) |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
Oanda or XM: Investment Programs
| Asset Name | Oanda | XM |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: XM or Oanda
| Oanda | XM | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
Oanda |
No |
Others |
No |
No |
|
|
|
Oanda vs XM: Deposit and Withdrawal Methods
| Oanda | XM | |
|---|---|---|
Bank Wire |
Yes |
Yes |
Bank Card |
Yes |
Yes |
Neteller |
Yes |
Yes |
BTC |
Yes |
Yes |
Wise |
No |
No |
Payoneer |
No |
No |
USDT |
No |
No |
Oanda vs XM: Research
| Research Type | Oanda | XM |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
Yes |
Oanda vs XM: Education
| Education Type | Oanda | XM |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
Yes |
Yes |
XM vs Oanda: Support
| Support Features | Oanda | XM |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
Oanda vs XM: Forex Bonuses and Promo
| Promo | Oanda | XM |
|---|---|---|
Forex Bonus |
Yes (Not for all countries) |
up to $5000 forex bonus, up to 100% forex deposit bonus |
Affiliate Program |
Yes |
Multi tier affiliate program |
Other Promos |
Rebates and commission markdowns |
|
|
|
|
Top 5 Reviews on XM
-
Comment
XM Group offers convenient support — available five days a week via chat and email. I once had to resolve a verification issue, and everything was handled within 30 minutes. I was pleased with the wide selection of terminals: although all are MetaTrader, there are 16 different versions for various devices. I trade on both my smartphone and laptop without any problems. Another plus is the full report on all commissions and transparent conditions — I’ve never encountered any hidden fees.
-
Comment
Account setup was quick and simple. I choose their MT4 trading app and can say it works pretty well. The execution speed is solid, and the spreads on the standard account are within the standards. Overall it’s been a solid experience and must say that the service here is great…
-
Comment
I discovered XM Group because of their trade copying program through MQL5. It’s very convenient for beginners: the service is integrated into MetaTrader, allowing automatic copying of top traders’ deals. I’m subscribed to one ranked trader myself — the results have been positive for three consecutive months, with an average monthly return of 8–12% at moderate risk. I paid a fixed commission for copying, and after a month, I can opt out — very convenient.
-
Comment
It’s a cool broker and it works really well especially because the support are helpful, professional and available 24/7.
-
Comment
I discovered XM Group through the Traders Union rankings — the company ranked among the top brokers. I was impressed by the range of instruments: over 1,000 tradable assets, including 55+ currency pairs, stocks, indices, commodities, and even palladium and platinum. Spreads are very tight, with no markup on most pairs. I especially appreciated the execution speed: 99.35% of orders are filled in less than a second, and I can confirm that personally — I haven’t experienced any delays or requotes. Over the past four months, I’ve made around $700 trading currencies and commodities.
Top 5 Reviews on Oanda
-
Comment
I considered Oanda as a platform for portfolio diversification. What attracted me was its stability — the broker has been operating since 1996 and is regulated in four jurisdictions. Liquidity is provided by major banks, including JPMorgan and Deutsche Bank, which adds confidence in order execution without slippage.
-
Comment
The Oanda platform offers a solid range of instruments, including currency pairs, cryptocurrencies, metals, indices, and commodities. The minimum order size starts from 0.01 lots, and spreads for major pairs begin at 0 pips. These are favorable conditions for traders using intraday or scalping strategies.
-
Comment
When choosing a broker, I paid close attention to leverage. OANDA offers up to 1:200, which provides enough flexibility for active trading. You can trade on MetaTrader 4, 5, as well as the proprietary fxTrade platform. The stop-out level is fixed at 50%, which is in line with industry standards.
-
Comment
The conditions at OANDA are average, so I can give this broker a decent rating.
-
Comment
I can describe OANDA as one of the most proper brokers on the currency market. It works quickly, there are no failures, and no market movements have a significant impact on it. I'm safe here.
FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.