Written by ForexBrokers.com
In this head to head comparison of OANDA vs Xtrade, 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 Xtrade, established in 2003, are both well-known online brokers in the financial market. Neither of them is publicly traded or operates as a bank. OANDA stands out with a Trust Score of 93 out of 99 on ForexBrokers.com, indicating a high level of trustworthiness. This high score is backed by its seven Tier-1 licenses, which are regarded as highly trusted. In comparison, Xtrade has a Trust Score of 74, placing it in the average risk category. Xtrade holds one Tier-1 license and one Tier-2 license, which aligns with its status as a trusted but more moderately rated brokerage.
| Feature |
OANDA
|
Xtrade
|
|---|---|---|
| Year Founded | 1996 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 1 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing the online brokers OANDA and Xtrade in terms of commissions and fees, there's a noticeable difference in offerings and value. OANDA is known for having relatively high forex trading costs, primarily due to its effective spreads, which are on the higher side compared to leading brokers. However, OANDA stands out for its automated execution across available accounts. While OANDA’s average non-core pricing for the EUR/USD pair was 1.61 pips, core pricing offers a slightly better deal with lower spreads and a per-side commission of $5 per $100,000 traded. This brings the all-in cost for core pricing to around 1.4 pips, undercutting default pricing. OANDA also caters to traders by allowing trades as small as 1 unit, significantly below the standard micro lot size. Thanks to its Elite Trader program, OANDA provides additional rebates and perks for high-volume traders. Rating-wise, OANDA earns 4 out of 5 stars, ranking number 34 out of 62 brokers in commissions and fees.
In contrast, Xtrade doesn’t make average spread data available, making detailed cost comparisons more challenging. With fewer transparency measures and less competitive pricing features than OANDA, Xtrade is positioned as one of the lesser-rated brokers in terms of commissions and fees. The lack of detailed pricing information and fewer value-added programs or services makes it less appealing for traders who prioritize cost efficiency. As a result, Xtrade receives a 2.5 out of 5-star rating and ranks last, number 62 out of 62 brokers, in the Commissions and Fees category.
Overall, while both brokers provide online trading platforms, OANDA distinguishes itself with a slightly better cost structure and additional programs for active traders. Xtrade, on the other hand, falls short in transparency and cost competitiveness. Traders looking for more economical options with clear pricing details might find OANDA to be the preferable choice.
| Feature |
OANDA
|
Xtrade
|
|---|---|---|
| Minimum Deposit | $0 | $250 |
| Average Spread EUR/USD - Standard | 1.61 | N/A |
| All-in Cost EUR/USD - Active | 1.61 | N/A |
| 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.
When comparing OANDA and Xtrade for their range of investment options, several key differences stand out. OANDA excels with an extensive list of 3,928 tradable symbols, including 68 forex pairs, providing a wide selection for traders. Xtrade, on the other hand, offers 482 tradable symbols and 56 forex pairs. Both platforms provide forex trading via CFDs or spot contracts, but neither allows the purchase of exchange-traded securities on U.S. or international exchanges, such as buying shares of Apple or Vodafone. While OANDA supports copy trading and the ability to buy actual cryptocurrency, Xtrade does not offer these features.
In terms of cryptocurrency, both OANDA and Xtrade permit the trading of cryptocurrency derivatives, but only OANDA allows users to purchase actual cryptocurrencies. OANDA's broader range and additional features contribute to its 4-star rating for investment options, ranking 27th out of 62 brokers according to ForexBrokers.com. Xtrade, with a more limited offering, holds a 3.5-star rating and ranks 49th in the same category. These distinctions may guide users in choosing a broker that aligns best with their trading needs and preferences.
| Feature |
OANDA
|
Xtrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3928 | 482 |
| Forex Pairs (Total) | 68 | 56 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | No |
| 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 the trading platforms and tools offered by OANDA and Xtrade, both brokers provide users with the option to engage in simulated trading through free virtual demo accounts. Each has developed its own proprietary platform, catering to diverse trading needs. OANDA stands out by offering a Windows-based desktop platform and both MetaTrader 4 and 5, giving traders a wider range of tools at their disposal. On the other hand, Xtrade only provides a web-based browser platform and does not support MetaTrader. Additionally, the capability to trade directly from stock charts is available on both platforms, but when it comes to copy trading, only OANDA offers this feature.
In terms of technical analysis resources, OANDA offers a staggering 431 drawing tools compared to Xtrade's 100, providing more depth for charting enthusiasts. While Xtrade boasts a more extensive watch list capability with nine columns, OANDA offers six, balancing simplicity with essential functionalities. Ranked 15th out of 62 brokers in the Trading Platforms and Tools category by ForexBrokers.com, OANDA holds a rating of four stars, clearly ahead of Xtrade's 58th place ranking and 3.5-star rating. With these aspects in mind, OANDA emerges as a more flexible and comprehensive choice for traders seeking robust platform options and tool variety.
| Feature |
OANDA
|
Xtrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 81 | N/A |
| Charting - Drawing Tools (Total) | 431 | 100 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 6 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing OANDA and Xtrade based on their mobile trading apps, both brokers offer iPhone and Android compatibility. However, OANDA stands out with features like stock and forex price alerts, support for drawing trendlines on charts, and the capability to view different time frames such as daily, weekly, or intraday. Additionally, OANDA provides real-time quote watchlists and auto-saving of chart drawings, which give it a competitive edge. In contrast, Xtrade does not offer these functionalities, potentially impacting the trading experience for those who rely on these tools for in-depth analysis.
While OANDA offers an impressive array of 30 technical studies for charting within its app, Xtrade's equivalent offering isn’t specified, which could be limiting for traders who prioritize technical analysis. Both apps lack watchlist symbol syncing. However, OANDA has received a higher rating with 5 stars for its mobile trading app, compared to Xtrade’s 4 stars. According to ForexBrokers.com, OANDA ranks #7 out of 62 brokers for its mobile trading apps, whereas Xtrade holds the #53 spot, highlighting OANDA’s stronger reputation among users and industry experts alike.
| Feature |
OANDA
|
Xtrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
When comparing OANDA and Xtrade for online market research capabilities, both brokers offer daily market commentary and access to forex news from top-tier sources like Bloomberg and Reuters. However, OANDA distinguishes itself with additional features that are absent from Xtrade. Specifically, OANDA provides tools such as Autochartist for technical and fundamental analysis and a sentiment-based trading tool that allows traders to gauge market sentiment with a clear ratio of long or short positions. In contrast, Xtrade lacks these advanced analytics, focusing more on basic offerings.
Both platforms offer economic calendars to inform users about significant global events impacting various economies. However, OANDA's research capabilities are recognized with a 5-star rating and a prestigious 5th rank in the Research category by ForexBrokers.com, outshining Xtrade, which is rated 3.5 stars and ranked 52nd out of 62 brokers. This highlights OANDA's superior dedication to providing comprehensive market insights, making it a favorable choice for traders seeking detailed research tools.
| Feature |
OANDA
|
Xtrade
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing OANDA and Xtrade in terms of educational resources available for beginners, OANDA clearly stands out. Both brokers provide a wealth of educational content related to forex and CFDs, including a variety of articles and videos. However, OANDA takes a step further by offering regular monthly webinars, a feature that Xtrade lacks. These webinars are not only live but also archived for future reference, making them particularly useful for those who like learning at their own pace. Xtrade does not offer this valuable resource, which may limit a new trader's ability to learn on demand.
Additionally, OANDA excels in providing beginner-focused educational videos, offering at least 10 specifically designed for newcomers to trading. This is complemented by a series of advanced videos, catering to more experienced traders who wish to deepen their knowledge. In contrast, Xtrade does not offer similar beginner or advanced video content. Both platforms provide an investor dictionary containing over 50 investing terms, aiding traders in becoming familiar with industry jargon. Despite both brokers achieving a decent educational rating, OANDA is rated significantly higher at 5 stars compared to Xtrade's 3.5 stars and ranks higher in educational resources according to ForexBrokers.com, placing 22nd out of 62 brokers against Xtrade’s 46th position. This comprehensive educational offering makes OANDA a more attractive option for beginners eager to learn and grow in the trading world.
| Feature |
OANDA
|
Xtrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
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 Xtrade. OANDA finished with an overall rank of #12, while Xtrade finished with an overall rank of #59.
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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Xtrade
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|---|---|---|
| Overall Rating |
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| Trust Score | 93 | 74 |
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OANDA and Xtrade both offer the ability to buy cryptocurrency derivatives, but only OANDA provides the option to purchase actual (delivered) cryptocurrencies, setting it apart from Xtrade's CFD-only offering.
OANDA stands out with its diverse fund transfer options, offering ACH, SEPA, PayPal, Skrill, Visa, Mastercard, and bank wires, while Xtrade provides limited options, omitting ACH, SEPA, and PayPal but including Skrill, Visa, Mastercard, and bank wires for deposits and withdrawals.
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 | Xtrade | |
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| Trust Score | 93 | 74 | |
| Winner | check_circle | ||
| Review | OANDA Review | Xtrade Review |
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| Regulation | OANDA | Xtrade | |
|---|---|---|---|
| Trust Score | 93 | 74 | |
| Year Founded | 1996 | 2003 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 1 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | OANDA | Xtrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| 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 | Xtrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | OANDA | Xtrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3928 | 482 | |
| Forex Pairs (Total) | 68 | 56 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | No | |
| 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 | Xtrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.61 | N/A | |
| All-in Cost EUR/USD - Active | 1.61 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | OANDA | Xtrade | |
|---|---|---|---|
| Minimum Deposit | $0 | $250 | |
| 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 | Xtrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | OANDA | Xtrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 6 | 9 | |
| Charting - Indicators / Studies (Total) | 81 | N/A | |
| Charting - Drawing Tools (Total) | 431 | 100 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | OANDA | Xtrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | OANDA | Xtrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | OANDA | Xtrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | OANDA | Xtrade | |
|---|---|---|---|
| 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 | Xtrade Review |
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| Trust Score | 93 | 74 | |
| Winner | check_circle | ||
| Review | OANDA Review | Xtrade Review |
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