Your capital is at risk. Trade only with funds you can afford to lose.
XM
#1 in our CFD broker rankings
Accepts traders from AS
Rating breakdown
- Regulation & trust4.50.1 lower than IC (4.6)
- Assets & markets4.50.4 higher than IC (4.1)
- Fees & costs4.00.6 lower than IC (4.6)
- Platforms & tools4.80.8 higher than IC (4.0)
- Accounts & banking4.50.5 higher than IC (4.0)
- Education4.81.3 higher than IC (3.5)
- Research4.30.3 higher than IC (4.0)
- Customer support4.90.4 higher than IC (4.5)
IC’s score. Numbers show the difference.
IC
#4 in our CFD broker rankings
Accepts traders from AS
Rating breakdown
- Regulation & trust4.60.1 higher than XM (4.5)
- Assets & markets4.10.4 lower than XM (4.5)
- Fees & costs4.60.6 higher than XM (4.0)
- Platforms & tools4.00.8 lower than XM (4.8)
- Accounts & banking4.00.5 lower than XM (4.5)
- Education3.51.3 lower than XM (4.8)
- Research4.00.3 lower than XM (4.3)
- Customer support4.50.4 lower than XM (4.9)
XM’s score. Numbers show the difference.
| XM | IC | |
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| Overview | XM is a globally recognized forex and CFD broker with 20+ million clients in 190+ countries. Since 2009, this trusted broker has been delivering low trading fees across its growing roster of 1000+ instruments. It also offers a comprehensive MetaTrader experience that we've observed firsthand placing test trades. | IC Markets (now IC) is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 200,000 clients from over 200 countries. |
| Customer Reviews | Based on 53 customer reviews | Based on 3 customer reviews |
| Trustpilot Score | ||
| Bonus Offer | $30 No Deposit Bonus, 100% Deposit Bonus | – |
| Promotions | – | |
| Comment by Reviewer | “With a low $5 minimum deposit, advanced charting platforms in MT4 and MT5, expanding range of markets, and a Zero account offering spreads from 0.0, XM provides all the essentials for active traders, even earning our ‘Best MT4/MT5 Broker’ award in recent years.” | “IC (formerly IC Markets) offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders.” |
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| Instruments | CFDs, Forex, Stocks, Commodities, Indices, Thematic Indices, Precious Metals, Energies | CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto |
| Demo Account | Yes | Yes |
| Minimum Deposit | $5 | $200 |
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| Minimum Trade | 0.01 Lots | 0.01 Lots |
| Regulator | CySEC, DFSA, FSCA, SCA, FSA, FSC-Belize, FSC-Mauritius, CMA-Kenya, CMA-UAE | ASIC, CySEC, FSA, SCB, CMA-Kenya |
| Margin Trading | Yes | Yes |
| STP Account | Yes | No |
| ECN Account | No | Yes |
| DMA Account | No | Yes |
| MAM Account | No | Yes |
| PAMM Account | No | Yes |
| LAMM Account | No | No |
| Demat Account | No | No |
| AI / Machine Learning | Yes | No |
| Robo Advisor | No | No |
| Negative Balance Protection | Yes | Yes |
| Market Maker | Yes | No |
| P2P Trading | No | No |
| Spot Trading | Yes | No |
| Mobile Apps | iOS, Android & Windows | iOS & Android |
| App Review | 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 MT4 and MT5 software on the move, with full access to the broker’s 1,400+ instruments. Where they shine is their dependability with minimal glitches and delays during testing. The built-in news, trading journal and push notifications also ensure you have everything you need to day trade from your hand. | IC deliver mobile apps for their cTrader, MT4, MT5 and TradingView platforms. They 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. Yet what really stands out is how they've managed to maintain the lightning-fast execution speed IC Markets (now just IC) is known for, right within the apps. It's a seamless trading experience that feels both professional and highly responsive. |
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| 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 offers copy trading through its intuitive app with exclusive crypto pairs. XM global offers a pre-integrated signals service via the MT5 platform. Aspiring investors can view detailed performance metrics and copy the trades of strategy managers. It's easy to set up, only requiring a handful of steps after logging in to your MQL5 community account. | Launched in February 2023, the IC Social app offers an intuitive way to learn, share, and mirror the positions of other traders with just a few clicks. Additionally, the app features risk management tools and supports dedicated trading groups. Alternatively, IC grants access to Signal Start, along with well-known third-party copy trading platforms including ZuluTrade and cTrader Copy. |
| Social Trading | Yes | Yes |
| Trade Signals | Yes | Yes |
| VPS Hosting | Yes | Yes |
| Tournaments | Yes | No |
| Demo Competitions | Yes | No |
| Ethical Investing | No | No |
| Custodial Account | No | No |
| Guaranteed Stop Loss | No | No |
| Inactivity Fee | $5 | $0 |
| Islamic Account | Yes | Yes |
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| Overview | XM delivers for CFD traders with flexible leverage and a huge range of markets, including bespoke thematic indices for exposure to popular sectors like artificial intelligence. The MT4/MT5 platforms are also fast and dependable while a free VPS is available to qualifying XM traders running algo trading strategies. | You gain access to over 2,250 CFDs, available for trading 24/5 across popular markets such as forex, commodities, indices, stocks, and bonds. Utilizing deep liquidity and advanced bridge technology, IC ensures optimal conditions for scalpers, hedgers, and algo traders alike. |
| Leverage | 1:1000 | 1:5000 |
| FTSE Spread | 1.4 | 1.0 |
| GBPUSD Spread | 0.8 | 0.23 |
| Oil Spread | 0.03 | 0.03 |
| Stocks Spread | 1.79 (Apple) | 0.02 |
| Forex Trading | ||
| Overview | XM offers a strong selection of currency pairs with no re-quotes or hidden charges, while spreads have come down over the years, now starting from 0.6 pips on the EUR/USD in the commission-free account. | IC maintains its commitment to providing exceptionally tight 0.0-pip forex spreads on major currency pairs such as EUR/USD. This makes it an excellent option if you are seeking superior execution, with an average of 35 milliseconds. Additionally, if you are a high-volume trader, you can benefit from rebates of up to $2.50 per forex lot. |
| GBPUSD Spread | 0.8 | 0.23 |
| EURUSD Spread | 0.8 | 0.1 |
| EURGBP Spread | 1.5 | 0.27 |
| Assets | 55+ | 75 |
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| Cryptocurrency | ||
| Overview | XM offers a handful of cryptocurrencies against the USD via the South African entity only. These are tradable via CFDs with very high leverage up to 1:500, amplifying potential returns but also losses. You can day trade major tokens like Bitcoin, Ethereum and Ripple, though the suite of tokens trails the 100+ crypto derivatives at some category leaders. | IC offers 20+ cryptocurrencies which are tradable via CFDs, including lesser-known tokens such as Avalanche, Kusama and Uniswap. Commission-free trading is available, and experienced crypto traders can access leverage in the MetaTrader platforms. |
| Spread | Variable | BTC 42.036 |
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| Crypto Lending | No | No |
| Crypto Mining | No | No |
| Crypto Staking | No | No |
| Auto Market Maker | No | No |