XM vs IC Markets

XM vs IC Markets Comparison Table 2023
XM IC Markets
4.4
4.8
United States Flag Traders from US not accepted
United States Flag Traders from US not accepted

XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been known for its low fees on 1000+ instruments. XM is regulated by multiple financial bodies, including the ASIC and CySEC.

IC Markets is a respected multi-asset broker offering premium trading technology, highly competitive pricing and 24/7 customer support. The broker provides various social trading features for beginners whilst experienced day traders can enjoy advanced charting and analysis tools. Over 180,000 clients from more than 200 countries have signed up with the heavily regulated and trustworthy brand.

Bonus Offer
$30 No Deposit Bonus When You Register A Real Account
Promotions

Improve The Speed & Reliability Of Your Trades With The XM VPS

Comment by Reviewer
"XM is one of the best forex and CFD brokers we have tested. The flexible account types will suit a variety of short-term trading styles while the $5 minimum deposit and smooth sign-up process make it easy to start trading." "IC Markets offers a top-class environment for traders of all experience levels and strategies. Industry-leading platforms, superior pricing and flexible accounts will meet the needs of both beginners and active day traders."
Pros
  • Transparent and low fees with spreads from 0.0 pips that will protect day trading profit margins
  • Beginner-friendly educational materials including podcasts and expert-led webinars in 16 languages
  • Premium research including market sentiment, fundamental insights and strategy builders
  • Accessible trading accounts with a $5 minimum deposit and fast account opening
  • Powerful MT4 and MT5 charting platforms available via desktop and mobile apps
  • Reliable 24/7 customer support with fast response times during testing
  • Hugely respected broker authorized by tier-one regulators
  • 1000+ instruments including 50+ forex pairs
  • No re-quotes and no rejections policy
  • Low fees for active traders with spreads from 0.0 pips and zero commissions
  • Premium educational resources and trading tools including podcasts, forex calculators and tick charts
  • Beginner-friendly social trading features including IC Social, Myfxbook, Zulutrade and Signal Start
  • 15+ payment methods in 10 base currencies including PayPal and Skrill
  • Responsive 24/7 customer support plus an extensive help centre
  • Reliable MT4 and cTrader platforms with excellent charting packages
  • Fast order execution speed of under 40ms
  • High leverage up to 1:500
Cons
  • Weak regulatory oversight through the global entity
  • Traders from the US not accepted
  • $5 inactivity fee after 3 months
  • VPS costs $28 per month
  • PayPal not supported
  • No bonus deals for new traders
  • Traders from the US not accepted
  • Two-factor authentication not available for extra account security
Awards
  • The Best Crypto CFDs 2022 - Financial Expo Egypt
  • Best FX Service Provider 2022 - City of London Wealth Management Awards
  • Best MT4/MT5 Broker 2021 - DayTrading.com
  • Best FX Educational Broker in the MENA region 2021 - Dubai Expo Awards
  • Best Trading Experience 2021 - Ultimate Fintech
  • Best FX Service Provider 2021 - City of London Wealth Management Awards
  • Best Broker in Customer Service 2020 - FX168
  • Global Forex Broker of the Year 2020 - Global Forex Awards
  • Best MT4/MT5 Broker 2023 - DayTrading.com
  • Best Forex Broker 2022 - DayTrading.com
  • Best Overall Broker 2020 - DayTrading.com
  • Best Trading App 2020 - DayTrading.com
Instruments
Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto
Demo Account
Yes Yes
Minimum Deposit
$5 $200
Trading Platforms
  • MT4
  • MT5
  • MT4
  • MT5
  • cTrader
  • DupliTrade
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
ASIC, CySEC, DFSA, FSC, FSCA ASIC, CySEC, FSA
Margin Trading
Yes Yes
Margin Rate
0.2%
STP Account
No No
ECN Account
No No
DMA Account
No Yes
MAM Account
No Yes
PAMM Account
No Yes
LAMM Account
No Yes
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
Yes No
Market Maker
Yes No
P2P Trading
No No
Spot Trading
Yes Yes
Mobile Apps
iOS, Android & Windows iOS, Android & Windows
Auto Trading
Expert Advisors (EAs) on MetaTrader Expert Advisors (EAs) on MetaTrader, cBots on cTrader, Myfxbook AutoTrade
Copy Trading
Yes Yes
Copy Trading Platform
XM global offers a user-friendly copy trading service. Aspiring investors can copy the trades of strategy managers. Investors can find strategy managers by viewing performance metrics and can decide how much they want to invest. Strategy managers can earn 50% of profits. The IC Social app is easy-to-use and allows traders to learn, share and mirror positions in a few clicks. The app also hosts risk management tools and facilitates direct messaging and dedicated trading groups. Alternatively, IC Markets provides access to Signal Start, plus popular third-party copy trading tools - ZuluTrade and Myfxbook.
Social Trading
Yes No
Trade Signals
Yes Signal Start
VPS Hosting
Yes Yes
Tournaments
Yes No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$5 $0
Islamic Account
Yes Yes
Account Currencies
  • USD
  • EUR
  • GBP
  • AUD
  • JPY
  • ZAR
  • CHF
  • SGD
  • PLN
  • HUF
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • JPY
  • CHF
Stock Exchanges
Commodities
CFD Trading
Speculate on rising and falling prices with leveraged CFDs spanning popular markets, including currencies, equities and commodities. Traders get very low fees and high-quality market insights to support CFD trading. Trade CFDs 24/5 on popular markets including forex, commodities, indices, stocks and bonds. IC Markets offers deep liquidity, raw spreads and high leverage.
Leverage
1:1000 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)
FTSE Spread
1.5 pts 1
GBPUSD Spread
1.9 0.5
Oil Spread
0.03 0.03
Stocks Spread
0.002 0.02
Forex Trading
XM offers ultra low spreads across a wide range of forex assets with no re-quotes or hidden charges. Forex can be traded 24/5 on desktop, web and mobile. Over 50 currency pairs are available including all majors. Trade currencies with 0.0 pip spreads at one of the world's leading forex brokers. IC Markets is a great choice for serious traders with superior execution and low fees.
Forex App

XM offer a mobile app for both Android and iOS that has been specifically tailored to each platform, maximizing the functionality of both. The app delivers the MetaTrader 4 and MetaTrader 5 platforms in your hand, with full forex trading and charting capabilities. Try it out today.

IC Markets deliver mobile apps for both their cTrader and MT5 platforms. Both have been developed on android and iOS separately, taking full advantage of the functionality available on each. With raw pricing, and spreads from 0.0, the apps deliver an excellent trading tool for all levels of trader. The speed of execution synonymous with IC Markets is retained across their apps.

GBPUSD Spread
1.9 0.5
EURUSD Spread
1.6 0.1
EURGBP Spread
1.8 0.5
Assets
55+ 55+
Currency Indices
  • USD
Cryptocurrency
XM offers crypto trading through CFDs. This means investors can go long or short with leverage. XM offers an excellent range of cryptocurrencies, including major tokens like Bitcoin, Ethereum and Ripple. IC Markets offer a diverse range of cryptos, with super small spreads. They also offer many cryptocurrencies not available elsewhere, without the need of a virtual wallet.
Spread
Variable BTC 0.4%, ETH 1%
Coins
  • BTC
  • ETH
  • LTC
  • XRP
  • BCH
  • ADA
  • XLM
  • EOS
  • NEO
  • TRX
  • DASH
  • MIOTA
  • XMR
  • ZEC
  • ETC
  • BTG
  • OMG
  • QTUM
  • BTT
  • NANO
  • AAVE
  • ALG
  • BTC
  • BCH
  • ETH
  • LTC
  • DASH
  • XRP
  • EOS
  • EMC
  • NMC
  • PPC
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
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