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Data refreshed 25 Aug 2026 · Compiled by David Ispiryan
Trust rank #19 · Founded 1996
OANDA is a well-regarded, regulated forex broker offering broad access to major currency pairs through intuitive web and mobile trading platforms. It provides order execution, research, charting, and educational resources, with products…
Read the OANDA review
Trust rank #26 · Founded 2009
XM is a well-regarded forex and CFD broker providing online access to multiple markets on widely used platforms, along with research tools, education, and multilingual support.
Read the XM reviewOANDA (Canada, founded 1996) holds 13 regulatory licences (ASIC, BVI FSC, CFTC, CIRO, FCA…), 7 of them tier-1, offers MT4, Proprietary, TradingView and sits in our low-fee bracket. XM (Cyprus, founded 2009) holds 5 regulatory licences (ASIC, CySEC, DFSA, FCA, IFSC), 2 of them tier-1, offers MT4, MT5 and sits in our low-fee bracket. The two overlap in 51 countries; OANDA is available in 2 countries where XM is not, and XM in 178 where OANDA is not.
Scored on 8 measurable dimensions where both brokers have verified data. Dimensions missing for either side are excluded rather than guessed. This is a data summary, not a recommendation.
| Criteria | OANDA | XM |
|---|---|---|
| Trust rank | #19 | #26 |
| Founded | 1996 | 2009 |
| Headquarters | Canada | Cyprus |
| Regulators | ASIC, BVI FSC, CFTC, CIRO, FCA, FFAJ, JFSA, JSDA, Kanto Local Finance Bureau, KNF, MAS, MFSA, NFA | ASIC, CySEC, DFSA, FCA, IFSC |
| Broker type | Market Maker | Market Maker, STP |
| Platforms | MT4, Proprietary, TradingView | MT4, MT5 |
| Instruments | Commodities, Forex, Indices, Metals | Commodities, Forex, Indices, Metals |
| Countries accepted | 53 countries | 229 countries |
| Fee level | Low | Low |
| Trading types | CFD Trading, Spot Trading | CFD Trading, Spot Trading |
| Best-for use cases | Professional Trading, Retail Trading | Professional Trading, Retail Trading |
Highlighted cells mark the stronger value where a direction is objectively better (e.g. more licences, lower fees). "Not verified" means the field is not yet in our catalogue for that broker — we never fill gaps with estimates.
Available at both (51): American Samoa, Australia, Austria, Belgium, Bulgaria, Chile, Christmas Island, Cocos (Keeling) Islands, Colombia, Croatia, Cyprus, Czechia, Denmark, Estonia, Finland, France, Germany, Greece, Guam, Hong Kong, Hungary, Indonesia, Ireland, Italy, Japan, Latvia, Lithuania, Luxembourg, Macao, Malaysia, Malta, Mexico, Netherlands, Norfolk Island, Northern Mariana Islands, Philippines, Poland, Portugal, Puerto Rico, Romania and 11 more.
Only OANDA (2): Canada, United States of America.
Only XM (178): Afghanistan, Albania, Algeria, Andorra, Angola, Anguilla, Antigua and Barbuda, Argentina, Armenia, Aruba, Azerbaijan, Bahamas, Bahrain, Bangladesh, Barbados, Belize, Benin, Bermuda, Bhutan, Bolivia, Bonaire, Bosnia and Herzegovina, Botswana, Brazil, Brunei and 153 more.
Availability reflects the countries each broker declares it serves. Local rules change; confirm on the broker's own site before signing up.
OANDA holds more regulatory licences: OANDA (ASIC, BVI FSC, CFTC, CIRO, FCA, FFAJ, JFSA, JSDA, Kanto Local Finance Bureau, KNF, MAS, MFSA, NFA) versus XM (ASIC, CySEC, DFSA, FCA, IFSC). Tier-1 licences: OANDA 7, XM 2.
OANDA offers MT4, Proprietary, TradingView; XM offers MT4, MT5.
Both sit in the same fee bracket (low) in our catalogue; compare the spreads and commission rows above for detail.
OANDA is the older of the two, founded in 1996; XM was founded in 2009.
They overlap in 51 countries. OANDA is additionally available in 2 countries (Canada, United States of America) and XM in 178 countries (Afghanistan, Albania, Algeria, Andorra, Angola, Anguilla and 172 more).
Risk warning: CFDs and forex are complex, leveraged instruments and carry a high risk of losing money rapidly. A majority of retail investor accounts lose money when trading CFDs. Nothing on this page is financial advice; verify licence status on the regulator's register before depositing. Full risk disclosure.