OANDA vs XM Comparison: Which Is Better for Traders?
We test brokers on real accounts using our own methodology, evaluating the quality of order execution, trading conditions, platforms and customer support.
Who is better - OANDA or XM?
Our pick: XM
Based on multiple factors - spreads and fees, available assets and instruments, execution quality, platform usability, support level, and educational resources - XM looks preferable to OANDA.
XM scored 4.7/5 and ranks 2 in our all Forex brokers list, whereas OANDA has 4.3/5 and ranks 29.
This is not financial advice. See the full comparison below.
Who is OANDA suitable for?
Oanda is suitable for beginners and experienced traders, thanks to quality analytics and various educational materials.
Who is XM suitable for?
Broker XM is suitable for both novice traders, thanks to educational materials, and experienced traders who value a variety of instruments.
Comparison Table of OANDA and XM
| Broker | OANDA | XM |
|---|---|---|
| Rating | 4.3/5 | 4.7/5 |
| Foundation Year | 2001 | 2009 |
| Regulated in Countries | United States, Australia, Canada, United Kingdom, Japan, British Virgin Islands, Singapore, Poland | Belize, Cyprus, Australia, South Africa, United Arab Emirates, Mauritius, Seychelles |
| Minimum Deposit |
|
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| Spread | from 0.5 points | from 0 points |
| Max Leverage | 1:200 | 1:1000 |
| Trading Assets (CFDs) |
|
|
| Trading Platforms |
|
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| Review | OANDA Review | XM Review |
OANDA Review
Oanda is an excellent choice for traders seeking a reliable and regulated broker with competitive spreads and various trading assets.
With quality analytics and diverse educational materials, Oanda suits beginners and experienced traders.
Pros and Cons of OANDA
Pros
- Tight spreads.
- Diverse markets and products.
- Advanced trading platforms.
- Quality analytics.
- Extensive learning section.
Cons
- Limited trading account types.
- Inactivity fee.
- High swaps.
OANDA is in the top 10 of the following ratings:
XM Review
XM broker offers a wide range of services, making it an attractive option for various traders. With over 1500 trading instruments, extensive educational resources, and numerous trading platforms, XM is ideally suited for beginners and experienced traders. Novice traders will particularly appreciate the accessible educational materials and low entry threshold, while professionals will find the competitive spreads and diversity of instruments appealing.
Pros and Cons of XM
Pros
- Wide range of trading assets.
- Extensive educational resources.
- Tight spreads on the Ultra Low account.
- Many analytical materials.
- Commission-free deposits and withdrawals.
Cons
- Inactivity fee.
- Standard account has a higher spread than the market average.
XM is in the top 10 of the following ratings:
Reliability
| Broker | OANDA | XM |
|---|---|---|
| Reliability | 5/5 | 5/5 |
| Foundation Year | 2001 | 2009 |
| Regulated in Countries | United States, Australia, Canada, United Kingdom, Japan, British Virgin Islands, Singapore, Poland | Belize, Cyprus, Australia, South Africa, United Arab Emirates, Mauritius, Seychelles |
| Regulators |
|
|
OANDA
Oanda demonstrates a high level of reliability, evidenced by licenses from the world's leading regulators.
XM
XM is a reliable and well-regulated broker with licenses in key jurisdictions. Segregated accounts, negative balance protection, and a compensation fund make it a safe choice for traders.
Pros
- Licenses from ASIC, CySEC, DFSA, and other regulators
- Segregation of client funds
- Negative balance protection and compensation scheme
Account Opening
| Broker | OANDA | XM |
|---|---|---|
| Account Opening | 4.5/5 | 5/5 |
| Minimum Deposit |
|
|
OANDA
Oanda offers a straightforward and structured registration process, ensuring convenience for clients.
Pros
- Clearly structured registration process.
- No minimum deposit, offering flexibility for traders.
Cons
- Additional documents may be required in some cases.
- Document verification can take from 1 to 2 working days.
XM
Opening an account with XM is fast and convenient: registration takes only a few minutes, the interface is intuitive, and document requirements are standard.
Pros
- Fast online registration
- Clear and straightforward KYC process
- Ability to open demo and additional accounts
Account Types
| Broker | OANDA | XM |
|---|---|---|
| Account Types | 3/5 | 4.5/5 |
| Trading Accounts |
|
|
| Minimum Deposit |
|
|
| Spread | from 0.5 points | from 0 points |
| Max Leverage | 1:200 | 1:1000 |
| Trading Assets (CFDs) |
|
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| Trading Platforms |
|
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| Demo Account | ||
| Swap-free Account |
OANDA
Oanda provides various trading accounts, but some specialized types are missing.
Pros
- Standard accounts are available.
- Demo accounts are offered.
- Swap Free accounts are available for traders following Islamic principles.
Cons
- Cent accounts are missing.
- No fixed spread accounts.
- No investment accounts are available.
XM
XM broker offers various account types to satisfy the needs of different traders, from beginners to professionals.
Pros
- A wide choice of accounts for different experience levels
- Flexible trading conditions (leverage, deposit)
- Specialized accounts for stock trading
Cons
- No ECN or STP accounts
Commissions
| Broker | OANDA | XM |
|---|---|---|
| Commissions | 3.5/5 | 4/5 |
| Spread | from 0.5 points | from 0 points |
| Average Spread (EURUSD) | 0.8 | 1.7 |
| Commission per Lot |
OANDA
Oanda's fees are moderate, making this broker competitive.
Pros
- No fees for deposits and withdrawals.
- Low spreads on major currency pairs.
Cons
- Inactivity fee is charged.
- Swaps may be high for some currency pairs.
XM
XM’s fees can be considered competitive: the Ultra Low account offers reduced spreads, while the absence of deposit and withdrawal fees lowers overall costs. With active trading, the conditions are attractive.
Pros
- Reduced spreads on the Ultra Low account
- No deposit or withdrawal fees
- Ability to lower costs through rebates
Cons
- Above-average spreads on the Standard account
- Inactivity fee applies
Deposit and Withdrawal
| Broker | OANDA | XM |
|---|---|---|
| Rating | 4/5 | 4.5/5 |
| Account Funding Methods |
|
|
OANDA
Oanda offers flexible conditions for depositing and withdrawing funds, but payment system commissions and currency conversion costs may apply.
Pros
- The broker does not charge a fee for deposits and withdrawals.
- A wide selection of payment systems is available.
- No restrictions on the amounts of deposits and withdrawals.
Cons
- High commission fees for certain methods by payment systems.
- Withdrawal request processing time may be long.
- Cryptocurrencies are not available as a payment method.
XM
The broker offers convenient deposit and withdrawal methods with zero commission but lacks cryptocurrency support.
Pros
- Zero commission for deposits and withdrawals
- A minimum limit of only 5 dollars
- Quick processing of withdrawal requests
Cons
- No cryptocurrency deposit/withdrawal options
Markets and Products
| Broker | OANDA | XM |
|---|---|---|
| Markets and Products | 4.4/5 | 5/5 |
| Forex | 48 | 55 |
| Precious Metals | 3 | 3 |
| Energy Carriers | 3 | 3 |
| Soft Commodities | 4 | 8 |
| Indices | 18 | 50 |
| Stocks | 1607 | 1307 |
| Cryptocurrency | 18 | 58 |
OANDA
Oanda offers an extensive set of markets and products, making it a versatile choice for traders of different levels.
Pros
- A wide range of currency pairs.
- A large selection of stocks and indices.
- Access to cryptocurrency trading.
Cons
- Maximum leverage is only up to 1:200.
XM
The broker offers a wide range of markets and products, including over 1500 items.
Pros
- A large selection of currency pairs
- Access to CFDs on various assets
- The ability to trade cryptocurrencies
Trading Platforms
| Broker | OANDA | XM |
|---|---|---|
| Rating | 5/5 | 4.5/5 |
| Trading Platforms |
|
|
OANDA
Oanda provides high-quality trading platforms with deep functionality and integration with TradingView.
Pros
- Access to classic platforms MT4 and MT5.
- The fxTrade mobile app with integration with MT5.
- Integration with TradingView.
Cons
- No MetaTrader alternatives for desktop devices.
XM
XM offers various versions of MT4 and MT5 platforms, providing flexibility in trading.
Pros
- Availability on various devices (PC, Mac, mobile)
- MultiTerminal for managing multiple accounts
- WebTrader for browser-based trading
Cons
- No alternatives to MetaTrader
Analytics
| Broker | OANDA | XM |
|---|---|---|
| Rating | 5/5 | 5/5 |
OANDA
The Oanda broker's analytical section offers many tools that help traders make informed decisions.
XM
XM’s analytics are well structured and deeply integrated into the platform. Trading Central, market sentiment tools, calendars, and calculators make them useful for both active trading and careful pre-trade analysis.
Pros
- Trading Central integration and XM in-house analysis
- Economic calendar, corporate events, and calculators
- Clear market sentiment tools
Education
| Broker | OANDA | XM |
|---|---|---|
| Rating | 4.5/5 | 5/5 |
OANDA
Oanda provides an extensive range of educational resources, catering to new and experienced traders, focusing on leveraged trading.
Pros
- Comprehensive coverage of fundamental and technical analysis.
- Variety of resources including webinars, workshops, and live market analysis.
- Free access to premium content for live account holders.
Cons
- Some advanced topics may not be covered in depth.
XM
XM's educational materials are extensive and varied, suitable for all experience levels.
Pros
- A wide range of materials: webinars, videos, seminars
- Available in different languages
- Daily online sessions with experts
Customer Support
| Broker | OANDA | XM |
|---|---|---|
| Rating | 5/5 | 5/5 |
| Email Support |
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| Hotline Phones |
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| Social Media |
Facebook
Twitter
LinkedIn
YouTube
InstagramOANDA
Oanda's technical support provides extensive communication options and round-the-clock service, ensuring the professionalism and efficiency of the solutions provided.
XM
XM’s customer support operates reliably 24/7, offering multiple contact channels and multilingual assistance. Most issues are resolved quickly and professionally, which supports the broker’s high service rating.
Pros
- 24/7 support via chat, email, phone, and messengers
- Multilingual assistance
- Strong knowledge of products and procedures
Comparisons of OANDA and XM with other brokers
Conclusion
XM stands out as the better overall pick, while OANDA trails on aggregate criteria.
XM scored 4.7/5 and ranks 2 in our rating; OANDA has 4.3/5 and ranks 29.
We explain the reasons above in detail — fees, platforms, reliability, support, and more.
FAQ
Which broker is better: OANDA or XM?
XM comes out ahead by overall rank (score 4.7/5, position 2) versus OANDA (score 4.3/5, position 29).
Which broker is better for beginners: OANDA or XM?
XM is often a smoother start thanks to simpler onboarding and stronger baseline metrics. Still, your tools and budget should drive the final choice.
Who has lower typical trading costs (spreads/commissions) — OANDA or XM?
It depends on the instrument and account type. Compare the live conditions in the “Commissions” section on this page — we break down the nuances category by category.
What trading platforms are available with OANDA and XM?
OANDA: MetaTrader 5, MetaTrader 4, TradingView, fxTrade. XM: MetaTrader 5, MetaTrader 4, WebTrader. See the “Platforms” section for details and selection tips.
What markets can you trade with OANDA and XM?
OANDA: Forex, Precious Metals, Energy Carriers, Soft Commodities, Indices, Stocks, Cryptocurrency. XM: Forex, Precious Metals, Energy Carriers, Soft Commodities, Indices, Stocks, Cryptocurrency. Full lists and differences are in the “Markets” section.
What account types are offered by OANDA and XM?
OANDA: Standard, Swap Free. XM: Standard, Micro, XM Ultra Low, Shares. See “Account Types” for a side-by-side comparison.
What deposit and withdrawal methods are supported by OANDA and XM?
OANDA: Skrill, Neteller, Swift, Visa, Mastercard. XM: Neteller, Skrill, SticPay, Swift, Visa, Mastercard. Check method-specific fees/settlement times.
Which broker is safer — OANDA or XM — and how was this assessed?
We consider regulation, corporate transparency, fund protection, and incident history. See the “Reliability” section for our findings.
