XM vs OANDA, 2024 Update

Compare XM vs OANDA

Each platforms for online trading will have certain advantages and disadvantages, and any comprehensive XM and OANDA review should not be regarded as thorough without adopting a balanced approach.

Assess XM and OANDA to understand the way these platforms stack up to each before you decide to create an account. Performing a comparative analysis can put things in perspective so that you're cognizant of what to expect.

So you are looking for a reputable broker and are choosing between XM or OANDA. Who should you choose?

This XM vs OANDA comparison contains the most recent information so you can easily compare OANDA against XM.

If you are a new entrant in the world of trading and brokerages, so many nuances will be confusing for you. Getting into the world of trading demands expert assessing skills and comprehensive understanding. You'll get adept at all of the concepts of broker as you continue trading. For starters, you have to choose the ideal broker who'll be transparent with you constantly.

In this fast-paced world of stock markets and trading, you'll need guidance to make correct decisions. A professionally lead investment plan has the potential to generate hefty returns. XM and OANDA are two such trading platforms that will take you along with your investment into great heights. It is crucial that you compare XM vs OANDA until you trust them with your cash.

Our XM vs OANDA comparison will help you judge the effectiveness, price, ease of use and customer support, and whether you can trust XM and OANDA side by side.

Our entire XM vs OANDA Review covers everything you will need to know about trading with either XM or OANDA. A good agent can multiply your initial investments and give you positive profits. If you would like to earn profits, you must trade with a brokerage service that contrasts with your investing objectives.

There is no sure-fire way to ensure profits; thus, you must carefully analyze your agent before you choose them. It's a common misconception that all agents are the same, but that's not correct. Wrong judgment, initially, can set your investments in danger.

XM and OANDA are both brokers that have paved their way successfully to the broker world. Within this review, we have tried to collate a number of the vital aspects of both XM and OANDA. This review can help you to know whether either OANDA or XM is a fantastic fit for your investments or not. We've tried to breakdown all the features and charges for your advantage.

Benefits of XM and OANDA Compared

XM has a minimum deposit of $5 while OANDA has a $1 minimum deposit.

Why smaller minimum deposits are good and how XM and OANDA compare

The main reason is that you should only deposit what you can afford. If you you have a lower budget, the broker that offers the lowest deposit option will be more attractive. The other reason is because when speculating on riskier but potentially more rewarding financial instruments you should look to speculate with only a small percentage of your allocated trading funds. Don't let a higher minimum deposit totally put you off a broker, look at the overall trading features you are getting from the trading platform. Often a high minimum deposit gives greater choice in the financial assets and trading platform research features.

XM has around 100 financial instruments whilst OANDA has around 100 available.

The more financial instruments you can trade on the XM and OANDA trading platforms the better. It is good to have a diverse portfolio and the options available to a user will always vary. Trading is all about grasping potential opportunities and you never want to miss out on a trading opportunity due to the limitations of XM or OANDA.

XM and OANDA Contact Details

Being able to contact a broker through many ways is important. XM and OANDA have the following contact details and social medias that you can use.

OANDA and XM Mobile App Comparison

It is becoming increasingly important for brokers to offer simple-to-use apps that provide the same services as desktop platforms.

This part of comparing XM and OANDA will examine whether their mobile app meets all our requirements.

Overall, we rate the user-friendliness of both apps as better than average.

It is important that any trading app has user friendly capabilities especially with the

Search Functions

Although most brokers do OK in this area, there are some bad apples out there. If you type 'Emerging markets' into the search box, the software will find all Emerging market ETFs, even if the name doesn't begin with 'emerging'. If you only ever traded US stocks and start typing 'Apple', will the AI show you the Apple stock or the obscure Irish stock Applegreen?

XM vs OANDA - Awards

XM vs OANDA - Frequently Asked Questions

XM vs OANDA - Headquarters And Year Of Founding

XM was founded in 2009 and has its head office in Cyprus.

OANDA was founded in 1996 and has its headquaters in United States, Canada.

What is the minimum deposit for OANDA or XM

The minimum deposit for XM is $5.

The minimum deposit for OANDA is $1.

Depending on your circumstances, a lower minimum deposit can be beneficial. If you are experienced with forex trading but are looking for a change then both XM and OANDA are a good option.

XM vs OANDA - Regulation And Licencing In More Detail

XM is regulated by International Financial Services Commission(IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investment Commission (ASIC).

OANDA is regulated by Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC).

Both XM and OANDA have a powerful collection of rules for ensuring fair trading on their own platforms. For information encryption purposes, they supply industry-standard secure socket layers (SSL).

As per their individual privacy policies, customer information is never to be shared with any other institutions or individuals. Including credit history and other financial details.

Compare XM vs OANDA Commission And Fees

XM and OANDA are online broker platforms, and most online brokerages charge lower prices than traditional brokerages tend to charge. The reason for this is that the companies of online brokerages are scaled better. That is, an internet broker is not necessarily influenced by the number of clients they have.

However, this does not mean that online brokers don't charge any fees. They charge prices of varying rates for a variety of services to make money. There are mainly three different types of penalties for this purpose.

The first kind of charges to keep an eye out for are trading charges. Whenever you make an actual trade, like buying a stock or an ETF, you're billed trading charges. In such instances, you're paying a spread, financing rate, or a commission. The sorts of trading charges and the prices differ from broker to broker.

Commissions can be fixed or dependent on the traded quantity. On the other hand, a spread denotes the gap between the buying and selling cost. Funding or overnight prices are those that are charged when you maintain a leveraged position for longer than a day.

Aside from trading charges, online agents also charge non-trading fees. These are dependent on the activities you undertake in your accounts. They are charged for operations like depositing money, not investing for long periods, or withdrawals.

In general, neither XM or OANDA charge high fees in comparison to other online brokers. For operations other agents charge for, they do not charge a brokerage fee, or they charge a lesser amount. This is beneficial for people who regularly trade, such as weekly or daily trading.

But, non-trading fees billed by XM and OANDA are comparatively greater. Consequently, you're billed more for non-trading activities in your trading accounts, like deposits and withdrawal. These aren't about the sale and purchase of assets.

This XM vs OANDA review for 2024 breaks down each of the relevant non-trading charges for you in detail.

Compare Broker Fees For XM And OANDA

What Languages Do XM And OANDA Support?

Being able to communicate completely with your trading broker is a key part of comparing brokers to find your perfect trading partner. Not only for support but to be sure you completely understand everything on their site and inside their application as it is a key factor to success when trading forex.

Below you will find the languages that both XM and OANDA offer communication in.

How Many Clients Do XM and OANDA Have?

Both XM and OANDA are well established with their customer base. It is really important to work with a broker you can trust and one of the easiest ways of establishing this is by knowing how many clients they already work with.

Below you will find details of how many customers XM and OANDA are active on their platform

What Payment Methods Do XM and OANDA Accept?

XM and OANDA both offer a wide range of payment options which is vital when you have a global customer base.

Below you will find details of all the payment options available at XM and OANDA

What Can You Trade With XM and OANDA?

XM offers 100 trading instruments and OANDA offers 100.

Below you will find a full breakdown of what both XM and OANDA offer.