Scores, winners and data below compare these brokers as CFD/FX brokers: leveraged trading on forex, indices, commodities and crypto. Scores, winners and data below compare these brokers as stock brokers: real shares and ETFs you own outright.
Oanda
Regulated in your country Oanda is allowed by ASIC to onboard clients residing in Australia.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
XM
Not regulated in your country XM does not accept residents in Australia because it is not regulated by ASIC.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Best for
What we compare A comparison of the kinds of traders Oanda and XM are best suited to, based on what each one actually offers in Australia.Oanda is better than XM for professional traders and futures traders. Both are a good fit for long-term investors, scalpers and swing traders.
| Overall score | Oanda 81 Best 74 | XM 74 -7 73 -1 |
|---|---|---|
| Day trading i | ||
| Long-term investing i | ||
| Professional traders i | ||
| High-volume traders i | ||
| Scalpers i | ||
| Swing traders i | ||
| News traders i | ||
| Algo traders i | ||
| Stock traders i | ||
| Crypto traders i | ||
| Futures traders i | ||
| Options traders i |
Regulation
What we compare A comparison between the financial authorities that supervise Oanda and the ones that supervise XM.Only Oanda is regulated in Australia, by ASIC. XM holds no licence in Australia and is regulated by CySEC.
| Section score | Oanda 100 Best 100 Best | XM 90 -10 90 -10 |
|---|---|---|
| Tier-1 regulators | ||
| ESMA (European Union) i | ||
| FCA (United Kingdom) i | ||
| ASIC (Australia) i | ||
| CFTC (United States) i | ||
| NFA (United States) i | ||
| SEC (United States) i | ||
| CIRO (Canada) i | ||
| MAS (Singapore) i | ||
| SFC (Hong Kong) i | ||
| JFSA (Japan) i | ||
| FINMA (Switzerland) i | ||
| Tier-2 regulators | ||
| FMA (New Zealand) i | ||
| CBR (Russia) i | ||
| FSCA (South Africa) i | ||
| DFSA (Dubai) i | ||
| CSRC (China) i | ||
| ISA (Israel) i | ||
| LFSA (Malaysia) i | ||
| JSC (Jordan) i | ||
| CMA (Kenya) i | ||
| Tier-3 regulators | ||
| FSA (Seychelles) i | ||
| MMA (Maldives) i | ||
| SCB (Bahamas) i | ||
| FSC (Mauritius) i | ||
| VFSC (Vanuatu) i | ||
| FSC (Belize) i | ||
| CIMA (Cayman Islands) i | ||
| SV FSA (Saint Vincent and the Grenadines) i | ||
| FSRC (St. Kitts & Nevis) i | ||
| BMA (Bermuda) i | ||
| BVI FSC (British Virgin Islands) i | ||
| EDR (External Dispute Resolution) i | ||
Safety
What we compare A comparison of the tools and services that Oanda and XM have in place to protect your money in Australia.Oanda and XM both offer segregated client funds and two-factor authentication.
| Section score | Oanda 66 66 | XM 65 -1 65 -1 |
|---|---|---|
| Company info | ||
| Is it publicly traded i | ||
| Is it a bank i | ||
| Year founded i | 1996 | 2009 |
| Parent company i | OANDA Group | Trading Point Holdings |
| CEO i | Gavin Bambury | Tasos Anastasiou |
| Money safety | ||
| Segregated client funds i | ||
| Two-factor authentication i | ||
| Investor compensation scheme i | ||
| Additional money insurance i | ||
| Partner bank i | mBank | N/A |
| Brand power | ||
| Number of customers worldwide i | 20,000,000 | |
| Annual revenue i | US$16,900,000 | US$1,000,000,000 |
| Monthly website search traffic i | ||
Costs
What we compare A comparison of what it costs to trade with Oanda and with XM in Australia, both on each trade and on holding the account.Oanda is better than XM for CFD/FX costs, as Oanda is cheaper on EUR/USD, at US$7.35 per lot (against XM's US$20), has tighter S&P 500 CFD spreads, at 0.39 points (against XM's 0.6 points), and has tighter gold CFD spreads, at 0.52 points (against XM's 0.55 points). Neither Oanda nor XM charges account maintenance fees or deposit fees.
XM is better than Oanda for real stock costs. Neither Oanda nor XM charges account maintenance fees or deposit fees.
| Section score | Oanda 66 Best 29 -43 | XM 26 -40 72 Best |
|---|---|---|
| Broker fees | ||
| Deposit fees i | ||
| Withdrawal fees i | ||
| Overnight fees i | ||
| Inactivity fees i | ||
| Currency conversion fees i | ||
| Discounts on volume i | ||
| Real time market data fee i | ||
| Dividend withholding i | ||
| Account opening fees i | ||
| Account maintenance fee i | ||
| Portfolio management fee i | ||
| Fees on CFDs | ||
| Forex commission per lot i | US$3 | |
| EUR/USD average standard spread i | ||
| EUR/USD average raw spread i | ||
| EUR/USD average fixed spread i | ||
| EUR/USD total cost per lot i | US$7.35 | US$20 |
| S&P 500 fees (CFD) i | 0.39 points | 0.6 points |
| Gold fees (CFD) i | 0.52 points | 0.55 points |
| Bitcoin fees (CFD) i | US$43.85 | US$40 |
| US stocks fees (CFD) i | US$0.06 | Free |
| Fees on stocks | ||
| Stock fee type i | Percentage | Commission, Percentage, Spread |
| US stocks fees (real) i | US$2.8 | |
| ETF fees (real) i | ||
| Management costs i | ||
| Connection costs i | ||
| Fees on futures | ||
| Futures fees per contract i | ||
| Platform fees i | ||
| Fees on options | ||
| Options fees per contract i | ||
| Event fees i | ||
| Fees on savings plans | ||
| IRA opening fee i | ||
| IRA maintenance fee i | ||
| 401k opening fee i | ||
| 401k maintenance fee i | ||
Available markets
What we compare A comparison of the markets and products you can trade with Oanda and with XM in Australia, and of how many instruments each one gives access to.Oanda is better than XM for CFD/FX markets, as Oanda lets you own ETFs outright, which XM does not, and offers futures on crypto and forex, which XM does not. Both Oanda and XM offer CFDs on commodities, crypto, forex, indices and stocks, and let you own stocks outright.
Oanda is better than XM for real stock markets, because Oanda lets you own ETFs outright, which XM does not, and offers futures on crypto and forex, which XM does not. Both Oanda and XM let you own stocks outright, and offer CFDs on commodities, crypto, forex, indices and stocks.
| Section score | Oanda 100 Best 60 Best | XM 75 -25 15 -45 |
|---|---|---|
| Total tradable symbols i | 1,400 | 1,400 |
| Currency pairs i | ||
| Indices i | ||
| Commodities i | ||
| Stocks i | ||
| ETF i | ||
| Cryptocurrencies i | ||
| Bonds i | ||
| Interest rates i | ||
| Portfolios i | ||
| CFDs i | Commodities, Crypto, Forex, Indices, Stocks | Commodities, Crypto, ETF, Forex, Indices, Stocks |
| Futures i | Crypto, Forex | |
| Options i | ||
| Assets you can own i | Stocks, ETF | Stocks |
Platform
What we compare A comparison of the trading platforms that Oanda and XM make available to their clients in Australia.Oanda is better than XM for platforms, as Oanda offers a proprietary platform, TradingView and AutoChartist, which XM does not. Oanda and XM both offer MetaTrader 5 and MetaTrader 4.
| Section score | Oanda 91 Best 91 Best | XM 63 -28 63 -28 |
|---|---|---|
| Proprietary platform i | ||
| MetaTrader 4 i | ||
| MetaTrader 5 i | ||
| cTrader i | ||
| Social trading platform i | ||
| Copy trading platform i | ||
| ZuluTrade i | ||
| TradingView i | ||
| Duplitrade i | ||
| Mirror Trader i | ||
| NinjaTrader i | ||
| AutoChartist i | ||
| Real time pricing i | ||
| 5 digit pricing i | ||
| One-click trading i |
Mobile
What we compare A comparison of the mobile apps of Oanda and XM in Australia, and of what each one lets you do from your phone.Oanda is better than XM for mobile trading, because Oanda offers mobile trading signals, which XM does not. Both Oanda and XM offer a proprietary mobile app and the MetaTrader 5 app.
| Section score | Oanda 93 Best 93 Best | XM 86 -7 86 -7 |
|---|---|---|
| Proprietary app i | ||
| Social trading app i | ||
| Copy trading app i | ||
| MetaTrader 4 app i | ||
| MetaTrader 5 app i | ||
| cTrader app i | ||
| Mobile trading signals i | ||
| Mobile alerts i | ||
| Mobile charting tools i | ||
| Mobile drawing tools i | ||
| Mobile watchlist i | ||
| Smartwatch app i |
Trading features
What we compare A comparison of the trading tools and strategies that Oanda and XM allow on their platforms in Australia.Oanda is better than XM for CFD/FX trading features, since Oanda offers guaranteed stop losses, which XM does not. Oanda and XM both offer negative balance protection and trailing stops. The leverage shown for XM is set by its Belize entity and exceeds the retail limit in Australia (30:1 on major currency pairs).
Oanda is better than XM for real stock trading features. Both Oanda and XM offer trailing stops and tier-1 liquidity providers.
| Section score | Oanda 96 Best 92 Best | XM 87 -9 77 -15 |
|---|---|---|
| Trade execution | ||
| Broker type i | Agency | Agency |
| Average execution time i | 66 ms | |
| Slippage occurrence i | ||
| Requotes occurrence i | 0% | |
| Tier-1 liquidity providers i | ||
| PFOF i | ||
| Leverage | ||
| Major FX pairs leverage i | 30:1 | 1000:1 |
| Minor/Exotic FX pairs leverage i | 20:1 | 1000:1 |
| Major indices leverage i | 20:1 | 500:1 |
| Minor indices leverage i | 10:1 | 250:1 |
| Gold leverage i | 20:1 | 1000:1 |
| Commodities leverage i | 10:1 | 400:1 |
| Equities leverage i | 5:1 | 20:1 |
| Cryptocurrency leverage i | 2:1 | 1000:1 |
| Risk management | ||
| Stop losses i | ||
| Take profits i | ||
| Limit orders i | ||
| Trailing stop i | ||
| Margin call i | ||
| OCO orders i | ||
| Guaranteed stop loss i | ||
| Negative balance protection i | ||
| Minimum trade size (FX) i | 0.01 lots | 0.01 lots |
| Minimum trade size (stocks) i | US$0 | US$0 |
| Fractional stocks i | ||
| Trading compliance | ||
| Scalping strategies allowed i | ||
| Hedging strategies allowed i | ||
| Automated trading strategy allowed i | ||
| EAs use allowed i | ||
| HFT strategy allowed i | ||
| VPS use allowed i | ||
| API use allowed i | ||
| Price scraping allowed i | ||
| FIFO rule applies i | ||
Account types
What we compare A comparison of the kinds of account you can open at Oanda and at XM in Australia, and of who each one is meant for.XM is better than Oanda for CFD/FX account types, given that XM offers a managed account, an Islamic account and a micro account, which Oanda does not. Both Oanda and XM offer a demo account and a corporate account.
XM is better than Oanda for real stock account types, since XM offers a stock investing account and a managed account, which Oanda does not. Both Oanda and XM offer a demo account and a corporate account.
| Section score | Oanda 46 -14 34 -34 | XM 60 Best 68 Best |
|---|---|---|
| Demo account i | ||
| Unlimited demo account i | ||
| Standard account i | ||
| Micro account i | ||
| Cent account i | ||
| Nano account i | ||
| Raw spread account i | ||
| ECN account i | ||
| Swap-free account i | ||
| Islamic account i | ||
| Professional traders account i | ||
| Fixed spread account i | ||
| Spread betting account i | ||
| Copy trading account i | ||
| Corporate account i | ||
| Managed account i | ||
| Stock investing account i | ||
| Margin investing account i | ||
| Savings account i | ||
| Retirement account i |
Account opening
What we compare A comparison of what it takes to open and fund an account with Oanda and with XM in Australia.XM is better than Oanda for account opening, since XM offers 10 account base currencies (against Oanda's 9), supports e-wallets, which Oanda does not, and credits deposits faster, within the same day (against Oanda's 1 day). That said, Oanda asks for no minimum deposit at all (against XM's US$5). XM holds no licence in Australia.
| Section score | Oanda 75 -20 75 -20 | XM 95 Best 95 Best |
|---|---|---|
| Minimum deposit i | US$0 | US$5 |
| Minimum withdrawal i | US$0 | US$5 |
| Wire transfers i | ||
| Credit cards i | ||
| Debit cards i | ||
| eWallets i | Neteller, Skrill | |
| Local payment methods i | ||
| Account base currencies i | AUD, CAD, CHF, EUR, GBP, HKD, JPY, SGD, USD | AUD, CHF, EUR, GBP, HUF, PLN, RUB, SGD, USD, ZAR |
| Deposit waiting time i | up to 1 business days | Instant |
| Withdrawal waiting time i | up to 3 business days | up to 1 business days |
| Bonus program i |
Customer care
What we compare A comparison of the customer support of Oanda and XM in Australia, in how it can be reached and how fast it answers.XM is better than Oanda for customer care, since XM offers customer support in 20 languages (against Oanda's 5), has a website in 19 languages (against Oanda's 7), and offers a dedicated account manager, which Oanda does not. Both Oanda and XM offer phone support and live chat.
| Section score | Oanda 51 -27 51 -27 | XM 78 Best 78 Best |
|---|---|---|
| Number of languages supported i | 7 | 20 |
| Website languages i | German, English, French, Italian, Russian, Spanish, Chinese | Arabic, Czech, German, Greek, English, French, Hungarian, Indonesian, Italian, Korean, Malay, Polish, Portuguese, Russian, Spanish, Tagalog, Thai, Vietnamese, Chinese |
| Website available in English i | ||
| Customer support languages i | German, English, Russian, Spanish, Chinese | Arabic, Czech, German, Greek, English, French, Hindi, Hungarian, Indonesian, Italian, Korean, Malay, Polish, Portuguese, Russian, Spanish, Tagalog, Thai, Vietnamese, Chinese |
| Customer support in English i | ||
| Call back request i | ||
| Email support i | ||
| Phone support i | ||
| Live chat i | ||
| Priority customer support i | ||
| Dedicated account manager i | ||
| Cash sweep i | ||
| Stock lending i | ||
| Distributes proceeds i | ||
| Tax withholding agent i | ||
| Tax assistance i |
Learning
What we compare A comparison of the educational material that Oanda and XM provide to their clients in Australia.XM is better than Oanda for learning, as XM offers daily market commentary, which Oanda does not. Both Oanda and XM offer education for advanced traders and webinars.
| Section score | Oanda 80 -8 80 -8 | XM 88 Best 88 Best |
|---|---|---|
| Education | ||
| Education center i | ||
| Education for beginners i | ||
| Education for advanced traders i | ||
| Webinars i | ||
| Tutorials i | ||
| Glossary i | ||
| Research | ||
| Economic calendar i | ||
| Traders' sentiment i | ||
| Daily market commentary i | ||
| Daily trading ideas i | ||
| News via social media i | ||
| Professional reports i | ||
| Watchlist i | ||
Oanda vs XM: which one should you choose?
Oanda
CFD/FX Choose Oanda if you want a CFD and forex broker regulated in Australia by ASIC, with TradingView and a choice of trading platforms.
Stocks Choose Oanda if you want a stockbroker regulated in Australia by ASIC, with TradingView, ETFs and futures.
Open Account CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
XM
CFD/FX Choose XM if you want an online CFD broker for high-frequency trading strategies, with fast withdrawals and copy trading and live in a country where it is licensed to operate.
Stocks Choose XM if you want a share dealing service with fast deposits and fast withdrawals and live in a country where it is licensed to operate.
Not licensed in Australia CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.Other popular comparisons
Below are other head-to-head comparisons that include Oanda or XM, each scored with the same data and method as this page.
