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 OANDA and Xtrade in terms of commissions and fees, OANDA stands out with a 4-star rating, ranking 34th out of 63 brokers according to ForexBrokers.com. In contrast, Xtrade holds a 2.5-star rating, ranking last at 63rd place. OANDA’s forex trading costs are noted for their high-effective spreads, but the platform provides an edge with automated execution and a low minimum trade size of 1 unit, allowing greater flexibility for traders. Although the spread and fee structure favors those dealing in higher volumes, OANDA ensures transparency by publishing a trailing average of its spreads.
OANDA users can choose between default pricing with spreads comparable to brokers like FOREX.com or FxPro, and 'core pricing', which offers lower spreads but includes a per-side commission. For instance, the core pricing for trading EUR/USD can yield a total cost of 1.4 pips, slightly more favorable than the 1.6 pips under default pricing. This setup also requires a $10,000 minimum deposit. Furthermore, OANDA offers an Elite Trader program with rebates for high-volume traders, adding an incentive for frequent trading activities.
Unfortunately, Xtrade does not provide detailed spread data, leaving potential traders with less visibility into their potential costs. This lack of transparency and the lower ranking underscore Xtrade's relative disadvantages in this dimension compared to OANDA. Overall, traders looking for competitive pricing and flexibility might find OANDA more appealing, especially those trading in substantial volumes or seeking to minimize transaction costs with automated execution.
| 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 the range of investments offered by online brokers OANDA and Xtrade, several key differences emerge, sure to be of interest to both budding and seasoned traders. OANDA boasts an impressive 3,928 tradeable symbols, substantially outpacing Xtrade’s 482. This wider assortment includes 68 tradeable forex pairs, compared to Xtrade's offering of 56. Both brokers facilitate forex trading as CFDs or spot contracts, but OANDA edges ahead with the ability to engage in copy trading, a feature that Xtrade does not provide.
Neither OANDA nor Xtrade allows the purchase of exchange-traded securities on U.S. or international exchanges, meaning conventional stock purchases, like shares of Apple or Vodafone, are not available. However, OANDA expands its investment menu by allowing clients to buy actual cryptocurrencies, a feature absent in Xtrade's offerings, where only cryptocurrency derivatives are accessible. Reflecting these differences, OANDA garners a four-star rating for its range of investments, ranking 27th among 63 brokers as per ForexBrokers.com, while Xtrade earns 3.5 stars, placing it at the 49th position.
| 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 OANDA and Xtrade, both brokers offer free virtual demo accounts, allowing traders to practice without financial risk. OANDA and Xtrade each provide proprietary platforms developed in-house, with OANDA also boasting a Windows-based desktop platform, which Xtrade lacks. Both brokers accommodate traders with web-based platforms, but OANDA goes further by supporting the highly popular MetaTrader 4 and 5 platforms, which Xtrade does not offer. For those interested in social trading, OANDA provides copy trading, while Xtrade does not offer this feature. Additionally, neither broker supports DupliTrade or ZuluTrade, focusing their efforts on their proprietary and supported platforms instead.
OANDA and Xtrade enable chart trading directly from stock charts, though OANDA gives a more extensive selection of 431 drawing tools compared to Xtrade's 100. OANDA's platform is also highly customizable with six fields for watch lists, while Xtrade offers nine. When rated for their trading platforms and tools, OANDA earns four stars, whereas Xtrade garners 3.5 stars. Their rankings reflect this, with OANDA placed at 15th and Xtrade at 58th out of 63 brokers, underscoring OANDA's broader capabilities and appeal to a wide range of traders seeking comprehensive trading solutions.
| 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 the mobile trading apps of OANDA and Xtrade, both platforms cater to iPhone and Android users, providing the flexibility to trade on the go. However, there are notable differences in their offerings. OANDA enables users to receive stock or forex price alerts, a feature absent in Xtrade's app. Additionally, OANDA excels in charting capabilities, offering 30 technical studies and the ability to draw trendlines and view multiple time frames on stock or forex charts. These drawings are auto-saved, enhancing the experience for users tracking price changes over time. In contrast, Xtrade's app does not support these advanced charting features, limiting its functionality for analyzing market trends effectively.
OANDA's platform also supports creating watchlists with real-time quotes, allowing traders to make informed decisions quickly, while Xtrade lacks this capability. Both apps do not sync watchlists between mobile and online accounts, but the overall user experience differs significantly. OANDA's mobile trading app stands out with a five-star rating and ranks seventh among 63 brokers reviewed by ForexBrokers.com, highlighting its impressive usability and features. In comparison, Xtrade's app, rated four stars and ranking fifty-third, may appeal to basic traders but falls short for those seeking comprehensive tools and seamless functionality.
| 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 market research, both brokers provide daily market commentary and offer forex news from esteemed sources like Bloomberg and Reuters. However, OANDA distinguishes itself with access to technical analysis tools from Autochartist, unlike Xtrade which does not. Interestingly, neither platform offers resources from Trading Central or Acuity Trading, nor do they offer market research by TipRanks. Despite these similarities, OANDA also offers a sentiment-based trading tool, giving traders a glimpse into long or short positions across various instruments, a feature absent from Xtrade.
Both brokers offer an economic calendar covering global news events, but OANDA excels in research, earning a 5-star rating and ranking 5th out of 63 brokers according to ForexBrokers.com. This surpasses Xtrade's 3.5-star rating and 52nd position. These differences suggest OANDA is more equipped for traders seeking comprehensive market insights and analytical tools compared to Xtrade, making it a formidable choice for those prioritizing research capabilities.
| 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 it comes to educational resources for beginners in the realm of forex and CFDs, OANDA provides a comprehensive suite of learning tools that stand out compared to Xtrade. Both platforms meet the threshold of offering a minimum of 10 educational pieces focused on forex or CFDs. However, OANDA goes further by hosting monthly webinars and providing access to a searchable archive of previously recorded sessions, features that Xtrade lacks. Additionally, OANDA offers an array of beginner educational videos, making it easier for newcomers to understand the basics, while Xtrade falls short in this area.
For traders who wish to delve deeper, OANDA also has advanced educational video content, whereas Xtrade does not offer substantial resources for experienced traders. Both brokers include a comprehensive investor dictionary, ensuring that users can easily look up investment terms. Overall, OANDA's commitment to education earns it a 5-star rating and a higher ranking of 22nd out of 63 brokers according to ForexBrokers.com. In contrast, Xtrade receives a 3.5-star rating and is ranked 46th, demonstrating that OANDA is a better choice for educational support.
| 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 63 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 #60.
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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|---|---|---|
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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) | |||
| 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) | |||
| 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) |
| 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 |
| Overall | OANDA | Xtrade | |
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| Trust Score | 93 | 74 | |
| Winner | check_circle | ||
| Review | OANDA Review | Xtrade Review |
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