Written by ForexBrokers.com
In this head to head comparison of OANDA vs XM Group, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
OANDA, founded in 1996, and XM Group, established in 2009, both stand as reputable choices in the online trading world, yet they differ in their regulatory strengths. Neither is publicly traded or functions as a bank, offering a focused approach to forex and CFD trading. OANDA holds an impressive position with seven Tier-1 licenses, reflecting a highly trusted status. This is further validated by its ForexBrokers.com Trust Score of 93, placing it in the upper echelon of reliability.
XM Group, while slightly younger, presents a solid regulatory standing with four Tier-1 licenses and one Tier-2 license. Its ForexBrokers.com Trust Score of 88 highlights a dependable platform, showcasing a trusted but slightly lower rating compared to OANDA. Though both brokers are committed to offering secure trading environments, OANDA's higher number of Tier-1 licenses may appeal to those prioritizing maximum regulatory oversight.
| Feature |
OANDA
|
XM Group
|
|---|---|---|
| Year Founded | 1996 | 2009 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 4 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing OANDA and XM Group regarding commissions and fees, both brokers have distinct pricing structures that cater to different trading preferences. OANDA, while not a discount broker, is known for its automated execution and varied account offerings. Its forex trading costs are generally high, with effective spreads that are among the steepest compared to leading brokers. OANDA's bid/ask spreads, which are the fees clients pay to trade, are similar to those of FOREX.com and FxPro, although they might appear slightly higher when compared to firms that offer sub-pip spreads.
OANDA offers core and default pricing tiers, with core pricing featuring lower spreads complemented by a per-side commission of $5 per $100,000 worth of currency, equating to about $10 per standard round turn lot. This setup requires a $10,000 minimum deposit, and while it improves overall pricing slightly better than commission-free options, it still places OANDA in a high-cost bracket. Despite OANDA's transparency efforts by publishing average spreads, the lack of spread data over fixed intervals makes precise comparisons challenging. OANDA holds a 4-star rating for commissions and fees and ranks #34 out of 63 brokers on ForexBrokers.com.
On the other hand, XM Group's standard account spreads are notably high, and it does not publish average spread data for its XM Zero account, which operates on a commission-based model. The lack of published average spreads adds a level of opacity to their pricing, which can be a consideration for traders seeking predictable cost structures. Despite this, XM Group shares the same 4-star rating for commissions and fees as OANDA, and it is ranked slightly higher at #33 out of 63 brokers on ForexBrokers.com. Both brokers, therefore, present a competitive landscape with unique offerings catering to different trader preferences.
| Feature |
OANDA
|
XM Group
|
|---|---|---|
| Minimum Deposit | $0 | $5 |
| Average Spread EUR/USD - Standard | 1.61 | 1.6 |
| All-in Cost EUR/USD - Active | 1.61 | 0.8 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
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OANDA and XM Group both excel in offering forex trading through CFDs or spot contracts, providing traders with flexibility. OANDA stands out with a substantial 3,928 tradeable symbols, surpassing XM Group's 1,394 symbols. Additionally, OANDA offers more tradeable forex pairs, providing 68 options compared to XM Group's 55. Despite these advantages, OANDA does not provide exchange-traded securities on either U.S. or international exchanges, while XM Group fills that gap, enabling clients to trade shares like Apple and Vodafone directly.
Both OANDA and XM Group accommodate copy trading for investors looking to follow successful strategies. When it comes to cryptocurrency, OANDA supports purchasing actual cryptocurrency, adding a layer of diversity not found in XM Group, which only offers cryptocurrency derivatives. Rated for their range of investments, OANDA receives 4 stars, slightly behind XM Group's 4.5-star rating. In rankings by ForexBrokers.com, OANDA is positioned at #27, whereas XM Group claims a higher spot at #24, reflecting XM Group's more diverse investment offerings.
| Feature |
OANDA
|
XM Group
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3928 | 1394 |
| Forex Pairs (Total) | 68 | 55 |
| U.S. Stock Trading (Non CFD) | No | Yes |
| Int'l Stock Trading (Non CFD) | No | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | Yes | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
When comparing OANDA and XM Group for their trading platforms and tools, both brokers offer free virtual demo accounts that allow traders to practice without financial risk. OANDA edges ahead with its proprietary platform, providing a unique trading experience developed in-house. Both brokers deliver accessibility with Windows-based desktop platforms and web-based browser platforms, ensuring users can trade across devices. Enhanced by copy trading and the availability of MetaTrader 4 and MetaTrader 5, both platforms cater to diverse trading needs, although neither broker supports DupliTrade or ZuluTrade.
Charting tools vary significantly between the two, with OANDA offering an impressive 431 drawing tools compared to XM Group's 15, although the number of technical indicators is not specified. Both brokers enable trading directly from stock charts. In terms of watch list customization, XM Group slightly surpasses OANDA with seven available columns compared to six. Despite these differences, both OANDA and XM Group earn a solid rating of four out of five stars for Trading Platforms and Tools. However, OANDA is ranked at #15, significantly higher than XM Group's #31, according to ForexBrokers.com, indicating a stronger overall performance in this category.
| Feature |
OANDA
|
XM Group
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 81 | 30 |
| Charting - Drawing Tools (Total) | 431 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
OANDA and XM Group both offer mobile trading apps for iPhone and Android users, complete with the ability to provide stock or forex price alerts. Each app allows users to draw trendlines and view multiple time frames on their charts while supporting up to 30 technical studies. However, there is a notable difference between the two: OANDA's app does not sync watchlist symbols with the client's online account, meaning changes made on the app do not automatically update on the online platform. On the other hand, XM Group's app offers watchlist symbol syncing, enabling seamless updates across devices.
When it comes to user ratings, OANDA shines with a perfect 5-star rating for mobile trading apps, compared to XM Group's 4-star rating. Both apps let users create watchlists with real-time quotes, but only OANDA's app automatically saves chart drawings. According to ForexBrokers.com, OANDA is ranked #7 out of 63 brokers in the Mobile Trading Apps category, while XM Group holds the #29 position. This suggests that, while both platforms offer comprehensive tools, OANDA is more highly regarded by users for its mobile trading capabilities.
| Feature |
OANDA
|
XM Group
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
OANDA and XM Group both offer a range of market research tools that cater to traders seeking timely insights. They both provide daily market commentary and access to forex news from well-known providers like Bloomberg and Reuters. OANDA stands out with its offering of technical analysis tools from Autochartist, which XM Group does not provide. On the flip side, XM Group provides resources from Trading Central, which are unavailable to OANDA users. Both brokers feature sentiment-based trading tools that give a comprehensive view of market positions across various currency pairs. An economic calendar is also included by both, helping traders stay updated with global news events.
While neither offers research tools from TipRanks or Acuity Trading, OANDA receives higher recognition with a research rating of five stars and is ranked 5th among 63 brokers by ForexBrokers.com. XM Group also garners a five-star research rating but is ranked slightly lower at 8th place. This subtle distinction may influence those prioritizing advanced market analysis tools in their trading decisions.
| Feature |
OANDA
|
XM Group
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources for beginners offered by OANDA and XM Group, both online brokers provide a valuable suite of materials tailored for those new to forex and CFD trading. Each platform ensures that novices have access to a minimum of 10 educational pieces, including articles, videos, and archived webinars focused on forex or CFDs. Moreover, both brokers facilitate monthly online webinars and maintain a comprehensive archive for clients to revisit at their convenience. This commitment allows users to steadily build their knowledge base with ongoing, easy-to-access learning opportunities.
Both OANDA and XM Group extend their educational services by offering at least 10 beginner-friendly videos that cover essential trading topics. They also cater to experienced traders with an additional 10 advanced videos each. A distinct feature of OANDA is its extensive investor dictionary, which includes definitions for over 50 investing terms—a resource not matched by XM Group. While both brokers receive a 5-star rating for their educational content, XM Group is ranked higher in the education category by ForexBrokers.com at 7th place, compared to OANDA's 22nd position. This higher ranking may indicate that XM Group’s educational offerings are slightly more tailored or recognized for beginner traders, despite both platforms providing substantial learning resources.
| Feature |
OANDA
|
XM Group
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that OANDA is better than XM Group. OANDA finished with an overall rank of #12, while XM Group finished with an overall rank of #17.
A trusted global brand, OANDA stands out for its reputation and quality market research. Its regulatory track record is strong, and its support for third-party features bolsters its overall offering.
| Feature |
OANDA
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XM Group
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| Overall Rating |
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| Trust Score | 93 | 88 |
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OANDA stands out by offering both actual cryptocurrency purchases and cryptocurrency derivatives, whereas XM Group only provides access to cryptocurrency derivatives and does not support the purchase of actual cryptocurrencies.
OANDA offers a variety of account funding and withdrawal options including ACH or SEPA transfers, PayPal, Skrill, Visa, Mastercard, and bank wires, while XM Group provides funding options such as Skrill, Visa, Mastercard, and bank wires, but does not support ACH, SEPA transfers, or PayPal.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | OANDA | XM Group | |
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| Trust Score | 93 | 88 | |
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| Review | OANDA Review | XM Group Review |
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| Regulation | OANDA | XM Group | |
|---|---|---|---|
| Trust Score | 93 | 88 | |
| Year Founded | 1996 | 2009 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 4 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | OANDA | XM Group | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | OANDA | XM Group | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | OANDA | XM Group | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3928 | 1394 | |
| Forex Pairs (Total) | 68 | 55 | |
| U.S. Stock Trading (Non CFD) | No | Yes | |
| Int'l Stock Trading (Non CFD) | No | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | Yes | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | OANDA | XM Group | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.61 | 1.6 | |
| All-in Cost EUR/USD - Active | 1.61 | 0.8 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | OANDA | XM Group | |
|---|---|---|---|
| Minimum Deposit | $0 | $5 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | OANDA | XM Group | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | OANDA | XM Group | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 81 | 30 | |
| Charting - Drawing Tools (Total) | 431 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | OANDA | XM Group | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | OANDA | XM Group | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | OANDA | XM Group | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | OANDA | XM Group | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | OANDA Review | XM Group Review |
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| Trust Score | 93 | 88 | |
| Winner | check_circle | ||
| Review | OANDA Review | XM Group Review |
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