BrokerDNA

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

Oanda
9.3 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT OANDA
Exness
9.5 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT EXNESS
XTB
10 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT XTB
About

Oanda is regulated by the Financial Conduct Authority, ASIC, NFA, IIROC and MAS. Oanda have provided Forex trading services since 2011.

Exness is regulated by CySEC, CRFIN, BaFin, AFM, Banque de France, CNMV, CONSOB, FI, KNF. Exness have provided Forex trading services since 2008.

XTB is regulated by the Financial Conduct Authority. XTB have provided Forex, CFD, and social trading services since 2002.

Why choose them?
  • Yes Over 22 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority and ASIC
  • Yes Over 10 years in business
  • Yes Segregates clients funds
  • Yes Regulated by CySEC, CRFIN, BaFin, AFM, Banque de France, CNMV, CONSOB, FI, KNF
  • Yes Over 16 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, KNF, and CMB.
Headquarters London, UK Limasol, Cyprus; St. Vincent and the Grenadines Level 34, One Canada Square, Canary Wharf, E14 5AA, London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes No Yes
CFD Yes No Yes
Spread Betting No No No
Social Trading No No No
MARKETS & INSTRUMENTS
Forex (currency pairs) 55 103 48
Commodities Offered 0 0 21
Stocks Offered 0 0 1606
Bitcoin No No Yes
Majors Yes Yes Yes
Indices Yes No Yes
US Stocks No No Yes
Penny stocks No No Yes
Energies Yes Yes Yes
Metals Yes No Yes
Agriculturals Yes Yes Yes
FTSE Yes No Yes
Dow Jones Yes No Yes
Dax No No Yes
Nikkei No No Yes
ETFs No No Yes
IPO No No Yes
See all instruments

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. <strong>73.5% of retail investor accounts lose money when trading CFDs with this provider.</strong> You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

See all instruments

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. <strong>73.5% of retail investor accounts lose money when trading CFDs with this provider.</strong> You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

See all instruments

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. <strong>73.5% of retail investor accounts lose money when trading CFDs with this provider.</strong> You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 Yes Yes Yes
MT5 No Yes No
MT4 Mac No Yes Yes
WebTrader Yes Yes Yes
Mirror Trader No No Yes
ZuluTrade No No No
Sirix No No No
cTrader No No No
PAMM No No No
Custom Platforms OANDA APINo No Xstation5

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image Yes No Yes
Available Languages

English, Chinese, French, German, Japanese, Korean, Russian, and Spanish

English, Russian, Chinese, Urdu, Malay, Indonesian, Hindi, Arabic, Bengali, Farsi, Tamil, Vietnamese, Thai, Korean, and Spanish

English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Turkish, Arabic, and Russian.

See platform & features

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. <strong>73.5% of retail investor accounts lose money when trading CFDs with this provider.</strong> You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

See platform & features

54.3% of retail investor accounts lose money when trading CFDs with this provider

See platform & features

77% of retail investor accounts lose money when trading CFDs with this provider.

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by Oanda and Exness

Demo account Yes Yes Yes
Mini account Yes Yes Yes
Micro account No No Yes
Standard account Yes Yes Yes
ECN Account No Yes No
Islamic account No Yes Yes
Zero spread account No No No
VIP account Yes No Yes
Fixed spreads No Yes Yes
Variable spreads Yes Yes Yes
See account options

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. <strong>73.5% of retail investor accounts lose money when trading CFDs with this provider.</strong> You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

See account options

54.3% of retail investor accounts lose money when trading CFDs with this provider

See account options

77% of retail investor accounts lose money when trading CFDs with this provider.

TRADING CONDITIONS

Scalping Yes Yes Yes
Hedging Yes Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server Yes Yes No
Direct market access Yes No Yes
STP broker No Yes Yes
Market maker No Yes Yes
Min trade Varies 0.01 Lot 0.01 Lot
Max trade Varies 200 Lot 100 Lot
Min deposit $1 $1 $1

RISK MANAGEMENT

Stop losses Yes No Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes No Yes
Price alerts Yes Yes Yes
Signal trading No No Yes

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal Yes No Yes
Neteller No Yes Yes
Skrill No No Yes
Payment processing time 1-2 business days 1 business day Same day if requested before 1PM
Withdrawal processing time 1-2 business days 1 business day Same day if requested before 1PM
See all funding options

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. <strong>73.5% of retail investor accounts lose money when trading CFDs with this provider.</strong> You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

See all funding options

54.3% of retail investor accounts lose money when trading CFDs with this provider

See all funding options

77% of retail investor accounts lose money when trading CFDs with this provider.

DETAILED INFO

Excluded countries US, JP, SG US, JP, SG US,IN,PK,BD,IQ,IR,IL,AF,AU,CA
Contact email Send Email Send Email Send Email
Phone number 44 20 3151 2050 357 25 030 959 44 2036953085
Live Chat Yes No Yes
Website www.oanda.co.uk https://www.exness.com/ www.xtb.com
Spreads:
EUR/USD (Average: 0.7 pips) 1.1 pips + $0.00 1.1 pips 0.1 pips
GBP/USD (Average: 1.1 pips) 1.7 pips + $0.00 1.2 pips 0.1 pips
USD/JPY (Average: 1.1 pips) 1.2 pips + $0.00 0.2 pips 0.1 pips
AUD/USD (Average: 0.8 pips) 1.2 pips + $0.00 0.2 pips 0.2 pips
USD/CHF (Average: 2.3 pips) 1.6 pips + $0.00 0.3 pips 0.2 pips
USD/CAD (Average: 2.9 pips) 1.6 pips + $0.00 0.3 pips 0.3 pips
NZD/USD (Average: 3.6 pips) 1.6 pips + $0.00 0.2 pips 0.3 pips
EUR/GBP (Average: 2.4 pips) 1.4 pips + $0.00 0.3 pips 0.1 pips
View all spreads

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. <strong>73.5% of retail investor accounts lose money when trading CFDs with this provider.</strong> You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

View all spreads

54.3% of retail investor accounts lose money when trading CFDs with this provider

View all spreads

77% of retail investor accounts lose money when trading CFDs with this provider.

FEES

Inactivity Fee No No No
Commission No $10- $30 Yes
Deposit Fee No Yes No
Withdrawal Fee Varies Yes No
View All Fees

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. <strong>73.5% of retail investor accounts lose money when trading CFDs with this provider.</strong> You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

View All Fees

54.3% of retail investor accounts lose money when trading CFDs with this provider

View All Fees

77% of retail investor accounts lose money when trading CFDs with this provider.

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Last update

All information collected from www.oanda.co.uk. Last updated on 01/08/2019.

All information collected from https://www.exness.com/. Last updated on 01/08/2019.

All information collected from www.xtb.com. Last updated on 01/08/2019.

Company

Oanda services over 75,000 clients clients around the world. The most notable aspect about Oanda is their fxTrade platform, which is regarded as one of the fastest platforms in the industry. Oanda is regulated in five different regional areas, making them a great choice for those looking to access global markets.

EXNESS was founded in 2008 and have quickly become a global leader in forex brokerage with a monthly trading volume of over 180 billion USD. EXNESS have grown to a leading player in the online brokerage company by providing 0% commission on deposit and withdrawals, tight spreads, no hidden commissions, instant withdrawals and 24/7 technical support in 13 different languages.

By choosing to open an account with EXNESS you will be choosing a brokerage that has access to leading positions in the forex market, free VPS hosting and available on multiple platforms including the universal standard MT4 and MT5. They are a top choice for traders seeking a quality online broker and are opening over 15,000 new accounts every month.

XTB provides hyper fast execution and facilitates seminars with external professional traders, providing personalised education depending on your individual circumstances.

XTB operates with two factors in mind; to provide traders with the fastest execution speeds and to be the most transparent broker on the market, which is reflected by the services and products they provide.

XTB also have a dedicated education area - the Trading Academy - which contains material to help you become a better trader, including video tutorials, trading courses, articles and much more to improve your skills at every step of your trading journey.

If you are looking for a broker that is regulated by the Financial Conduct Authority and focuses on transparency, fast execution speeds and customer service, XTB is a great option.

For more information about trading with XTB, we have put together an in-depth XTB review covering the pros and cons of this broker.

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Oanda or Exness?

Well established or ECN execution?

If you’re a trader looking for a broker that has been established for a long time, Oanda is likely a good choice. However, if you want a broker with ECN execution, Exness may be more appropriate.

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider Exness to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

Oanda is regulated by Financial Conduct Authority and ASIC, while Exness is regulated by CySEC, CRFIN, BaFin, AFM, Banque de France, CNMV, CONSOB, FI, KNF.

As the Financial Conduct Authority are one of the most stringent regulators in the world, Oanda will have very strict guidelines to follow to ensure they protect their retail trader clients.

XTB are also regulated by the Financial Conduct Authority.

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

Oanda has been around for 23 years, while Exness have been around for 11 years. Our third alternative broker, XTB, have been around for 17 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

Both Oanda and Exness use tier one banks, but we are not sure of which bank specifically.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

We’re not aware of any penalties or fines imposed by regulators on Oanda or Exness in the past five years.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

Oanda is more popular with over 23,000 traders.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

Both Oanda and Exness are privately owned companies.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

Oanda are based in London, UK, while Exness are based in Limasol, Cyprus; St. Vincent and the Grenadines .

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both Oanda and Exness offer forex trading. Exness have a slightly larger variety of currency pairs with 103 pairs, compared to 55 offered by Oanda. Also, if you’re looking to trade cryptocurrencies,

Both Oanda and Exness allow you to trade commodities like gold, silver and crude oil.

Platforms & Account Types

If you trade forex, there’s a good chance you might want a broker that offers the popular MT4 trading platform. If that’s the case, both Oanda and Exness offer this. Exness also offer the new & improved MT5 platform. Our alternative broker, XTB, also offers MT4 and MT5.

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. Oanda, for example, offer a mini account, standard account and VIP account.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

Oanda does allow scalping and hedging. While Exness also allows scalping and hedging. You can trade with EAs (expert advisors) on both Oanda and Exness.

In terms of risk management tools, neither Oanda or Exness offers negative balance protection. Negative balance protection prevents you owing your broker more than you’ve deposited.

Oanda also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.

Oanda accept Paypal while Exness accept Neteller.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, Oanda charges 1.20 points, while Exness charges 0.10 points. Therefore, Exness is the more affordable for this instrument. If you want to compare their spreads across more instruments, You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: Oanda or Exness?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, Exness is more reliable based on our criteria above. Exness has a wider range of instruments to trade. Exness offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.