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 the commissions and fees of OANDA and XM Group, both brokers receive a respectable four-star rating out of five. However, OANDA is ranked slightly lower, coming in at #34, while XM Group is ranked at #33 out of 62 brokers according to ForexBrokers.com. OANDA's forex trading costs are generally higher, featuring elevated effective spreads when compared to top brokers. OANDA's appeal lies in its automated execution and the flexibility of trading micro lots far smaller than the typical minimum size. They offer a core pricing plan that involves a $5 commission per $100,000 worth of currency traded and requires a $10,000 minimum deposit—resulting in a slightly improved all-in cost compared to its default pricing.
OANDA's bid/ask spreads are on par with brokers like FOREX.com and FxPro, though they tend to be somewhat higher than platforms offering sub-pip spreads. For instance, in July 2024, the average non-core cost on the EUR/USD pair was 1.61 pips. Their core pricing option offers reduced spreads—0.4 pips for the EUR/USD pair—but comes with additional commission costs, which brings the total to approximately 1.4 pips, less than the default pricing. This setup can be particularly advantageous for traders operating with larger volumes.
On the other hand, XM Group offers standard account spreads that are considered costly, and the average spreads for their XM Zero account are not openly shared, making precise cost assessments challenging. While neither OANDA nor XM Group is positioned as a discount broker, each presents its unique advantages. OANDA has a slight edge with transparency efforts by regularly publishing trailing spread averages, even if more precise comparisons remain elusive without fixed-period average spread data. Still, both companies offer competitive features for different types of traders, underscoring their nearly identical rankings in the commissions and fees category.
| 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.
OANDA and XM Group both offer forex trading through CFDs and spot contracts, appealing to traders interested in foreign exchange. When it comes to the variety of available options, OANDA provides a more extensive selection with 3,928 tradeable symbols and 68 forex pairs, compared to XM Group's 1,394 tradeable symbols and 55 forex pairs. Both platforms also support copy trading, allowing users to replicate successful trading strategies. OANDA stands out by enabling clients to purchase actual cryptocurrencies, beyond just derivatives, which is not an option with XM Group.
While OANDA does not offer exchange-traded securities from U.S. and international markets, XM Group provides these options, allowing clients to directly buy shares from well-known companies like Apple and Vodafone. This capability might attract investors interested in traditional securities in addition to forex and derivatives. Rated 4 stars for its range of investments, OANDA is ranked 27th out of 62 brokers, while XM Group, slightly ahead with a 4.5-star rating, holds a ranking of 23rd in the same category, showcasing its broader investment offerings in certain areas.
| 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 a range of features suitable for various traders. They both provide the option for simulated paper trading through free virtual demo accounts, making it easier for beginners to practice without risk. In terms of proprietary platforms, OANDA takes the lead by offering an in-house developed platform, unlike XM Group. Both brokers provide comprehensive desktop and web-based platforms and support popular trading softwares like MetaTrader 4 (MT4) and MetaTrader 5 (MT5). They also offer similar capabilities in copy trading but do not provide DupliTrade or ZuluTrade.
Charting capabilities differ significantly between the two. OANDA stands out with an impressive 431 drawing tools, while XM Group offers only 15. Trading directly from stock charts is available with both brokers, enhancing the trading experience. For watch lists, OANDA provides six customizable columns, whereas XM Group offers seven. Ultimately, both brokers are rated four stars for trading platforms and tools. However, OANDA ranks higher in this category, coming in at 15th out of 62 brokers reviewed by ForexBrokers.com, while XM Group is ranked 31st. This makes OANDA a slightly more appealing choice for traders prioritizing platform offerings.
| 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.
When comparing the mobile trading apps of OANDA and XM Group, both brokers provide a variety of features for traders on the go. Each offers an app compatible with iPhone and Android devices, allowing users to stay connected no matter their platform. Both apps supply stock or forex price alerts and the ability to create a watchlist with real-time quotes. For chart analysis, both OANDA and XM Group provide 30 technical studies and support the drawing of trendlines, along with offering multiple time frames for detailed market analysis. However, OANDA stands out by automatically saving drawings on charts, a feature XM Group does not offer.
A significant difference is evident in the handling of watchlist symbol syncing; while XM Group supports syncing watchlists with a client's online account, OANDA does not. This can be an important aspect for traders who frequently switch between devices. In terms of overall ratings, OANDA has the edge with a five-star rating, ranking 7th out of 62 brokers by ForexBrokers.com. XM Group, with a four-star rating, ranks 29th. This makes OANDA a slightly more esteemed choice for those prioritizing exceptional mobile trading experience.
| 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.
When choosing between OANDA and XM Group for market research, both brokers provide strong daily market commentary and access to forex news from top-tier sources like Bloomberg and Reuters. OANDA stands out by offering tools from Autochartist, providing investors with advanced technical analysis capabilities absent in XM Group's offerings. However, XM Group compensates by incorporating research tools from Trading Central, which are not available through OANDA. Both brokers support sentiment-based trading tools that visualize the ratio of long and short positions and offer comprehensive economic calendars displaying global news events.
Both OANDA and XM Group achieve a high rating of five stars for research offerings. Yet, there is a slight edge for OANDA, ranking 5th among 62 brokers according to ForexBrokers.com, as opposed to XM Group’s 8th place position. Despite their differences, both brokers are top performers in the research category, providing users with rich analysis resources to enhance 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 it comes to educational resources, both OANDA and XM Group provide a substantial selection of materials aimed at helping beginners navigate the world of forex and CFDs trading. OANDA offers more than 10 educational pieces, including articles, videos, and archived webinars focused primarily on forex and CFDs. XM Group matches this offering with a similar array of materials. Both platforms host regular online client webinars, at least one per month, and provide access to a searchable archive of these previously recorded sessions, making it easy for users to learn at their own pace. Furthermore, both brokers supply at least 10 beginner-friendly videos, which cover trading topics ideal for those new to the market, as well as 10 advanced videos tailored for more experienced traders.
While OANDA and XM Group stand on equal footing regarding most educational offerings, OANDA provides an added advantage with an investor dictionary containing definitions of over 50 investing terms—a feature that XM Group does not offer. Despite both receiving a perfect 5-star rating for education, XM Group holds a higher rank (#7) compared to OANDA (#22) as per ForexBrokers.com. This comparison reveals that while both brokers are well-equipped to educate traders, they cater to slightly different needs, making either a compelling choice for a novice trader.
| 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 62 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
|
|---|---|---|
| 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 | |
| Winner | check_circle | ||
| 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 |
| Overall | OANDA | XM Group | |
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| Trust Score | 93 | 88 | |
| Winner | check_circle | ||
| Review | OANDA Review | XM Group Review |
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