Oanda Vs. XM - Compare Trustworthiness, Capabilities, Fees and Legitimacy

Oanda is an international Forex broker founded in 1996 with headquarters in the United States. Oanda specialises exclusively in currency trading solutions for all trader levels. Their greatest selling points are their strong regulatory framework and robust proprietary platforms.

XM is an international broker headquartered in Cyprus which offers MetaTrader 4 & 5 and over 1500 + tradable assets.

• Forex traders of all levels (from beginner to advanced)

• Experienced traders looking to trade shares in high volume using their Zero account
• MetaTrader users wishing to explore XM's offering while maintaining their preferred platforms

• CFTC (U.S)
• NFA (U.S)
• ASIC (Australia)
• FCA (UK)
• MAS (Singapore)
• IIROC (Canada)
• FFAJ (Japan)
• BVI (British Virgin Islands)

• ASIC (Australia)
• CySec (Cyprus)
• ADGM (United Arab Emirates)

• High trustworthiness, regulated by the best regulators in the world
• Fast, simple and professional trading platforms
• Competitive spreads in their currency pairs

• Competitive commissions on their Zero account
• Modest asset offering of 1500+ tradable instruments (similar to competitors in the same range)

• Extremely limited offering of assets (104)
• No ability to purchase real stocks or cryptocurrencies, only CFDs

• No proprietary platforms or technology
• Expensive spreads and trading fees
• Lack of asset variety when compared to other brokers in the same range

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• Valid identity document (Passport, ID Card, etc)
• Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

• Valid identity document (Passport, ID Card, etc)
• Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

• Visa
• Mastercard
• Bank Transfer
• Paypal

• Visa
• Mastercard
• Bank Transfer
• Neteller
• Skrill

AF, AL, BS, BB, BW, BF, BI, KH, KY, CF, TD, CD, CG, CU, ER, ET, GH, IR, IQ, JM, KP, LY, MU, MN, MA, MM, NI, NG, PK, PS, PA, SN, SL, SO, SS, SD, SY, TT, TN, UG, VU, YE, ZW.

US, CA.

$10 after 1 year of inactivity.

Yes, $15 one time payment after 1 year of inactivity and then $5 monthly.

Credit and Debit cards are free, when it comes to Bank transfer depends on the account's base currency (eg: the first withdrawal costs $, €, £ 20 and any subsequent ones 35). In the case of SGD, there are no fees.

Yes on Zero accounts ($7 per lot round turn).