Oanda vs XM

Compare Oanda vs XM Side by Side

Comparing Oanda vs XM to see which broker is better for your trading strategy? We have conducted in-depth research between Oanda Review and XM Review, and compared trading conditions including fees, safety, licensing, available trading platforms, instrument options, deposits, and withdrawals, as well as other critical factors compared side by side.

Oanda is under the scrutiny and regulation of several authorities, including the CFTC in the US and the FCA in the United Kingdom. This translates to a robust level of investor protection and regulatory oversight. In contrast, XM has received regulatory approvals in both Australia and Cyprus and maintains a presence in the United Arab Emirates (UAE) and offshore jurisdictions.

Oanda functions as a market maker, managing client trades internally without routing them directly to the interbank market. On the other hand, XM adopts a hybrid brokerage approach, employing both ECN and STP execution methods to provide a comprehensive electronic Forex trading experience.

Oanda is recognized for its competitive spreads and its elimination of the requirement for a minimum deposit, ensuring accessibility for traders of all experience levels. Conversely, XM offers a wide range of markets and instruments, featuring low floating spreads and accommodating various trading strategies, thus making it suitable for both beginners and experienced traders alike.

Oanda typically provides commission-free trading, where spreads serve as the primary cost, and these spreads can fluctuate based on market conditions and account type. In contrast, XM offers spreads that are higher than the industry average for commission-free trades but also offers zero-spread options with associated commissions depending on the account type. Moreover, both brokers impose non-trading fees, including inactivity charges.

Oanda offers a single standard account type that provides users with access to various trading platforms and tools. Conversely, XM offers both Standard accounts and accommodates Sharia-compliant traders with Islamic account options. XM also offers Micro accounts.

Oanda provides an extensive array of trading instruments, encompassing Forex, commodities, indices, bonds, and shares, affording traders access to a diverse range of asset classes. XM offers a similar selection of markets but does not include the spread betting feature. It’s worth noting that the range of instruments offered by both brokers is relatively limited.

Oanda provides traders with access to its proprietary trading platform as well as the widely utilized MT4 and MT5 platforms, ensuring a versatile trading experience with a user-friendly interface. In contrast, XM offers a diverse range of trading platforms, prominently featuring the renowned MT4 and MT5 platforms known for their comprehensive suite of trading tools, including Expert Advisors (EAs). Additionally, XM provides access to WebTrader.

Both brokers provide a plethora of payment methods to facilitate funding and withdrawals from trading accounts, ensuring convenience and flexibility for their clients. These methods encompass traditional bank transfers, widely accepted credit/debit cards, as well as a range of online payment systems.

Both Oanda and XM are committed to empowering traders with a wealth of educational resources, offering a multifaceted approach to enhance their skills and deepen their understanding of the financial markets. These resources encompass a variety of learning tools, including insightful webinars, instructive tutorials, and comprehensive written materials.

In terms of customer support, both brokers excel in this regard, providing traders with access to responsive and knowledgeable support teams. This ensures that traders have assistance readily available whenever they need it, further enhancing their overall trading experience.

Conclusion on XM vs Oanda

In conclusion, Oanda and XM are two highly regarded brokers in the industry, each catering to a diverse range of traders. Oanda stands out for its accessibility, competitive spreads, and user-friendly platforms, making it a suitable choice for a broad audience. On the other hand, we recommend XM, particularly for novice traders, due to their extensive range of educational resources and support. Here is our final recommendation:

• Oanda – 🥇 Best US Forex and CFD Broker, offering an appealing choice for traders, especially beginners or those with smaller trading capital.
• XM – 🥇 Best Auto Trading Broker, giving traders a comprehensive choice of assets to trade, also Best Broker for Beginners.