Scores, winners and data below compare these brokers as CFD 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
Available in your country Oanda accepts clients from the country this site is for.
76.6% of retail investor accounts lose money when trading CFDs with this provider.
XM
Available in your country XM accepts clients from the country this site is for.
72.82% of retail investor accounts lose money when trading CFDs with this provider.
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 Nigeria.Oanda is better than XM for day traders, professional traders and high-volume traders. XM, on the other hand, is better for long-term investors. Both are a good fit for scalpers, swing traders and news traders.
| Overall score | Oanda 82 Best not offered | XM 74 -8 70 |
|---|---|---|
| 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.Oanda and XM are both regulated by top-tier authorities, Oanda by KNF, ASIC (Australia) and the CFTC (United States) and XM by CySEC and ASIC (Australia).
| Section score | Oanda 100 not offered | XM 100 100 |
|---|---|---|
| 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 Nigeria.Oanda and XM both offer segregated client funds and two-factor authentication.
| Section score | Oanda 66 not offered | XM 65 -1 65 |
|---|---|---|
| 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 | N/A | N/A |
| Brand power | ||
| Number of customers worldwide i | 3,500,000 | |
| Annual revenue i | USD 16,900,000 | USD 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 Nigeria, both on each trade and on holding the account.Oanda is better than XM for CFD costs, as Oanda is cheaper on EUR/USD, at 5.5 USD per lot (against XM's 10.5 USD), has tighter S&P 500 CFD spreads, at 0.49 points (against XM's 0.6 points), and does not charge currency conversion fees, unlike XM. Neither Oanda nor XM charges account maintenance fees or deposit fees.
Oanda does not offer real stocks, being a CFD broker, so XM and Oanda cannot be compared for real stock costs.
| Section score | Oanda 84 Best not offered | XM 53 -31 72 |
|---|---|---|
| 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 | Free | Free |
| 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 | USD 5.5 | USD 10.5 |
| S&P 500 fees (CFD) i | 0.49 points | 0.6 points |
| Gold fees (CFD) i | 0.57 points | 0.55 points |
| Bitcoin fees (CFD) i | USD 40 | USD 40 |
| US stocks fees (CFD) i | USD 0.1 | Free |
| Fees on stocks | ||
| Stock fee type i | Percentage | Commission, Percentage, Spread |
| US stocks fees (real) i | USD 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 Nigeria, and of how many instruments each one gives access to.Oanda is better than XM for CFD markets, as Oanda offers CFDs on crypto, which XM does not, gives access to 1,500 tradable symbols (against XM's 1,000), and offers futures on crypto and forex, which XM does not. Both Oanda and XM offer CFDs on commodities, forex, indices and stocks.
XM and Oanda cannot be set side by side for real stock markets, as Oanda is a CFD broker and does not offer real stocks, unlike XM.
| Section score | Oanda 100 Best not offered | XM 65 -35 15 |
|---|---|---|
| Total tradable symbols i | 1,500 | 1,000 |
| 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, Forex, Indices, Stocks |
| Futures i | Crypto, Forex | |
| Options i | ||
| Assets you can own i | Stocks |
Platform
What we compare A comparison of the trading platforms that Oanda and XM make available to their clients in Nigeria.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.
XM and Oanda cannot be set side by side for platforms, as Oanda is a CFD broker and does not offer real stocks, unlike XM.
| Section score | Oanda 91 Best not offered | XM 63 -28 63 |
|---|---|---|
| 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 Nigeria, and of what each one lets you do from your phone.Oanda is better than XM for mobile trading, because Oanda offers mobile charting tools and mobile drawing tools, which XM does not. Both Oanda and XM offer a proprietary mobile app and the MetaTrader 5 app.
XM and Oanda cannot be compared for mobile trading, because XM is a broker offering both CFDs and stocks while Oanda is a CFD broker.
| Section score | Oanda 86 Best not offered | XM 73 -13 73 |
|---|---|---|
| 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 Nigeria.XM is better than Oanda for CFD trading features, since XM allows for high-frequency trading. Oanda and XM both offer negative balance protection and trailing stops.
Only XM can be assessed for real stock trading features, since Oanda is a CFD broker and does not offer real stocks.
| Section score | Oanda 83 -4 not offered | XM 87 Best 77 |
|---|---|---|
| Trade execution | ||
| Broker type i | Agency | NDD |
| 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 | 888:1 | 1000:1 |
| Minor/Exotic FX pairs leverage i | 888:1 | 1000:1 |
| Major indices leverage i | 888:1 | 500:1 |
| Minor indices leverage i | 200:1 | 250:1 |
| Gold leverage i | 888:1 | 1000:1 |
| Commodities leverage i | 100:1 | 400:1 |
| Equities leverage i | 20:1 | 20:1 |
| Cryptocurrency leverage i | 10:1 | 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 | USD 0 | USD 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 Nigeria, and of who each one is meant for.XM is better than Oanda for CFD account types, given that XM offers a managed account, an ECN account and an Islamic account, which Oanda does not. Both Oanda and XM offer a demo account and a raw spread account.
XM and Oanda cannot be compared for real stock account types, because XM is a broker offering both CFDs and stocks while Oanda is a CFD broker.
| Section score | Oanda 53 -9 not offered | XM 62 Best 29 |
|---|---|---|
| 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 Nigeria.Oanda is better than XM for account opening, since Oanda does not require a minimum deposit (against XM's 5 USD), has no minimum withdrawal (against XM's 5 USD), and offers credit cards, which XM does not. Oanda and XM both offer debit cards and wire transfers.
There is no like-for-like comparison for account opening, as Oanda is a CFD broker and does not offer real stocks.
| Section score | Oanda 80 Best not offered | XM 70 -10 70 |
|---|---|---|
| Minimum deposit i | USD 0 | USD 5 |
| Minimum withdrawal i | USD 0 | USD 5 |
| Wire transfers i | ||
| Credit cards i | ||
| Debit cards i | ||
| eWallets i | Neteller, Skrill | |
| Local payment methods i | ||
| Account base currencies i | USD | AUD, CHF, EUR, GBP, HUF, PLN, RUB, SGD, USD, ZAR |
| Deposit waiting time i | up to 2 business days | Instant |
| Withdrawal waiting time i | up to 2 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 Nigeria, 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 19 languages (against Oanda's 5), and has a website in 19 languages (against Oanda's 7). Both Oanda and XM offer phone support and live chat.
Only XM can be assessed for customer care, since Oanda is a CFD broker and does not offer real stocks.
| Section score | Oanda 46 -21 not offered | XM 67 Best 67 |
|---|---|---|
| Number of languages supported i | 7 | 19 |
| 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, 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 Nigeria.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.
Oanda does not offer real stocks, being a CFD broker, so XM and Oanda cannot be compared for learning.
| Section score | Oanda 80 -3 not offered | XM 83 Best 83 |
|---|---|---|
| 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 Choose Oanda, regulated by the FCA and the CFTC, if you want a CFD and forex broker with low trading costs, no minimum deposit and TradingView.
Open Account 76.6% of retail investor accounts lose money when trading CFDs with this provider.
XM
CFD Choose XM, regulated by CySEC and ASIC, if you want an online CFD broker with copy trading, micro accounts and several account base currencies.
Stocks Choose XM, regulated by CySEC and ASIC, if you want a broker for securities investing with a small minimum deposit.
Open Account 72.82% of retail investor accounts lose money when trading CFDs with this provider.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.
