Oanda vs XM | Our In-Depth Analaysis (2023)

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Oanda vs XM: In a Nutshell

Oanda

Founded by Drs. Stumm and Olsen in the USA in 1996, Oanda is one of the oldest and most experienced forex brokers in the world. The broker expanded into Asia in 2007, opened its London office in 2011, and its Sydney office in 2014. On its platforms, you can trade over 3000 forex, CFDs, and even real stocks.

Oanda Overview
  • Founded In: 1996
  • Minimum Deposit: None
  • Maximum Leverage: 500:1
  • Regulations: ASIC, CFTC, FCA,PFSA,MAS, FSA
  • Trading platform: MT4, MT5, fxTrade app, Tradingview
  • Account Types: Standard , Elitetrader
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, ACH Payments (echeck), BPAY, CHAPS, Check, DBS Bill Payment, Local Bank Deposits, Local Bank Transfers, Neteller, Payment Asia, PayNow, PayPal, SEPA Credit Transfer (SCT), Skrill
  • US Traders:  Accepted 

XM

XM is a well-regulated Australian broker founded in 2009. On its MT4 and MT5 platforms, you can trade over 1,000 forex, CFDs, and even real stocks. It’s ultra-low standard and micro accounts come with low trading fees. Trading tools like Autochartist, market news, and analysis are provided.

XM Overview
  • Founded In: 2009
  • Minimum Deposit: $5
  • Maximum Leverage: 1000:1
  • Regulations: FSC
  • Trading platform: MT4, MT5
  • Account Types: Ultra Low, Micro, Standard, Islamic
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Neteller, Skrill
  • US Traders: Not Accept

Oanda vs XM: Pros and Cons

Oanda

Pros
  • Regulated by the CySEC, FCA, CFTC, JFSA, IIROC, ASIC, MAS and FSC BVI
  • Clients can trade over 1800 forex/CFDs and over 2000 real stocks.
  • Platforms: MT4, MT5, and Oanda mobile apps on iOS and Android.
  • Trading tools provided are MetaTrader premium tools, Autochartist, Market pulse analysis, etc.
  • Customer support is provided in multiple languages and via different channels.
  • Fast and user-friendly account opening
  • The TradingView platform is available, alongside several VPS services for MT4 hosting.
Cons
  • Bank withdrawals incur a fee which is transferred to the trader.
  • Premium core accounts require a minimum balance of $20,000
  • Inactivity fees are charged from dormant accounts.
  • No account protection for U.S. clients
  • No guaranteed stop-losses for U.S. or U.K. clients
  • Traders in the U.S. cannot access single-stock CFDs
  • No cent accounts, bonus programme for beginner traders

XM

Pros
  • Regulated by CySEC, ASIC, DFSA in UAE, and FSC Belize.
  • Easy and fast account opening
  • Minimum deposit is $5
  • Over 1000 forex/CFDs are available for trading.
  • MT4 and MT5 are the available trading platforms.
  • Quality research, market analysis, and access to trading tools like Autochartist.
  • Quality training for newbies and ‘ultra-low micro account’ for beginners.
  • High leverage up to 1000:1 (this leverage is not available to all the entities of the Group)
Cons
  • Dormant fees are charged after 3 months of no account activity.
  • Trading of real stocks is not available to European traders.
  • Traders have no other choice apart from the MetaTrader platforms.
  • Limited tradable assets.
  • No passive investment services (social trading platform, PAMM accounts);
  • Funding with PayPal is unavailable

Oanda vs XM: Side-by-Side Comparison

Oanda
XM
Product
Product
Founded In
Founded In
1996
2009
Founded By
Founded By
Dr. Michael Stumm & Dr. Richard Olsen
Constantinos Cleanthous
Headquarters
Headquarters
New York, New York, United States
Limassol, Cyprus
Regulations
Regulations
ASIC, CFTC, FCA,PFSA,MAS, FSA
FSC
Min Deposit
Min Deposit
None
$5
Max Leverage
Max Leverage
500:1
1000:1
Tradable Assets
Tradable Assets
Forex, Indices , Metals , Shares, Commodities, Cryptocurrencies
Forex , Commodities, Stock ,Indices , Crypto , Turbo Stocks Equity indices , Precious Metals , Energies
Fees
Fees
Spread from 0.8 pips
Spread from 1.0 pips, Only Share Account
Platforms and Tools
Platforms and Tools
MT4, MT5, fxTrade app
MT4, MT5
US Traders
US Traders
Allowed
Not Allowed

Oanda Vs XM: Our Scores and Ratings

We rated both brokers, Oanda and XM, on a scale of 1 to 10, with 0.1 increments. To achieve a comprehensive rating, we broadly grouped all services offered by brokers into 6 macro categories and assigned percentage weights to them. Each macro category is subdivided into several data points which contributes to the total score of 1.0-10.0 assigned to each macro category. Since all categories are not equally important, our weight percentage plays a significant role in assessing the broker accurately. For example, Regulation and Security contributes a total weight of 40% to the whole ratings because this is the most important rating category. To learn more, read our methodology.

Oanda :

8.8
Total Score
Regulation and Security (40%)10
Fees and Commissions (20%)7
Trading (15%)8
Trading tools (10%)9
Customer Support (10%)9.2
Trading Education (5%)7

XM

9.3
Total Score
Regulation and Security (40%)9.6
Fees and Commissions (20%)9.5
Trading (15%)8.4
Trading tools (10%)8.6
Customer Support (10%)9.5
Trading Education (5%)9.4
Written by

Jason Paine is a forex trader, researcher, and tech enthusiast. He is passionate about financial markets and cutting-edge technology. With a dynamic 16-year trading career, he's on a mission to guide fellow traders. Having navigated diverse forex brokers, Jason shares his insights at Brokersway to bridge the gap between traders and the right brokerage.

DisclosureAt Brokersway we're committed to delivering unbiased information. our opinions are our own and are not influenced by the payment we receive from our advertising partners. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money.

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