Oanda vs Xtrade - Fees Review included
Which broker is better Oanda or Xtrade? 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. Xtrade is one of the top brokers in the financial market with the TU Overall Score of 0 out of 10. Find out more about TU Overall Score.
| Feature | Oanda | Xtrade |
|---|---|---|
Overall |
4.4 |
2.4 |
5 |
4.1 |
|
4.5 |
1 |
|
3.5 |
3.1 |
|
Investment Instruments |
4.1 |
1 |
Platforms and Charting Tools |
4.8 |
2.1 |
Deposit and Withdrawal |
4.2 |
4.2 |
Research |
4.7 |
2.1 |
Education |
4.5 |
3.4 |
Support |
4.8 |
3.9 |
Bonuses |
4.6 |
1 |
|
|
Oanda vs Xtrade: 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.
“XTrade Europe LTD” broker was founded in the year 2009. One of “XTrade Europe LTD” key benefits is that it is \controlled by CySEC.
| Oanda | Xtrade | |
|---|---|---|
| Overall Pros | Regulated by a range of reputable financial bodies | CySec regulated broker |
| Real-time news and fundamental analysis tools | Video courses for beginners | |
| localized and multilingual phone support | ||
| User-friendly platform for new forex traders | ||
| Outstanding research tools | ||
| Financial information publicly available | ||
| High educational value through written content and videos | ||
| Orders get executed with no requotes | ||
| Deposit minimum as low as $1 | ||
| Overall Cons | No programs offering bonus | Limited choice of supported assets |
| Slow withdrawal of funds | The website is missing a lot of important information. | |
| EURUSD spread 5 pips | ||
| No cryptocurrency trading | ||
| Inactivity fee $50 |
Oanda vs Xtrade: Safety and Regulation
| Oanda | Xtrade | |
|---|---|---|
Max. Regulation Level |
Tier-1 |
|
Investor protection |
£85,000 SGD 75,000 $500,000 |
|
FCA UK Regulation |
Yes |
|
FINRA (U.S) |
No |
|
BaFin (Germany) |
No |
|
ASIC (Australia) |
Yes |
|
CFTC (U.S) |
Yes |
|
MAS |
Yes |
|
FSCA SA |
No |
|
BVI FSC |
Yes |
|
VFSC |
No |
|
FSA (Seychelles) |
No |
Oanda vs Xtrade: Trading Conditions
| Trading Conditions | Oanda | Xtrade |
|---|---|---|
Minimum Deposit |
No minimum deposit |
$200 |
Trading Platforms |
MT4, OANDA, TradingView |
WebTrader |
Max Leverage (Futures) |
1-50 |
1-30 |
Supported Markets |
Forex, CFDs (not for all entetities): Forex, Indexes, Commodities, Metals, Bonds, Cryptocurrencies |
Currency Pairs, Precious Metals, Indices, Shares, Energy commodities |
Trading assets |
120+ |
100+ |
Trading Accounts |
Standard, Core, and Swap-free |
Standard, Premium, VIP, Platinum |
Base Account Currencies |
USD, EUR, HKD, SGD |
|
Oanda vs Xtrade: Fees
| Oanda | Xtrade | |
|---|---|---|
Standard acc. spread EUR/USD, min pips |
0,1 |
|
Standard acc. spread EUR/USD, max pips |
0,5 |
|
ECN Commission |
3,5 |
|
ECN Spread EUR/USD |
0,15 |
|
Deposit fee, % |
No |
|
Withdrawal fee, % |
No |
|
Withdrawal fee, USD |
0-15 |
|
Inactivity fee, $ |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Oanda vs Xtrade: Trading Assets
| Asset Name | Oanda | Xtrade |
|---|---|---|
Overall |
120+trading assets |
100+ |
Forex |
Yes |
Yes |
Stocks |
No |
Yes (CFDs) |
Metals |
Yes (CFD) |
Yes (CFDs) |
Cryptocurrencies |
Yes (CFD) |
No |
Energy |
Yes (CFD) |
Yes (CFDs) |
Indices |
Yes (CFD) |
Yes (CFDs) |
ETFs |
No |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
Oanda or Xtrade: Investment Programs
| Asset Name | Oanda | Xtrade |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: Xtrade or Oanda
| Oanda | Xtrade | |
|---|---|---|
MT4 |
Yes |
no |
MT5 |
Yes |
no |
cTrader |
No |
no |
Appropriate platform |
Oanda |
OffersFX WebTrader |
Others |
No |
no |
|
|
Oanda vs Xtrade: Deposit and Withdrawal Methods
| Oanda | Xtrade | |
|---|---|---|
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 Xtrade: Research
| Research Type | Oanda | Xtrade |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
No |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
No |
Oanda vs Xtrade: Education
| Education Type | Oanda | Xtrade |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
No |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
Yes |
No |
Xtrade vs Oanda: Support
| Support Features | Oanda | Xtrade |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
No |
Other |
No |
No |
Oanda vs Xtrade: Forex Bonuses and Promo
| Promo | Oanda | Xtrade |
|---|---|---|
Forex Bonus |
Yes (Not for all countries) |
No |
Affiliate Program |
Yes |
No |
Other Promos |
Rebates and commission markdowns |
|
|
|
Top 5 Reviews on Oanda
-
Comment
I tested different account types: Standard, Core, and Premium. The conditions vary in terms of spreads and execution speed. In my case, I chose the Core account — it's the best balance between commission and execution quality. On the downside, there are no cent accounts, and the entire website is only available in English, which may not suit everyone.
-
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.
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.