xChief vs IC Markets Comparison
We test brokers on real accounts using our own methodology, evaluating the quality of order execution, trading conditions, platforms and customer support.
Comparison Table of xChief and IC Markets
| Broker | xChief | IC Markets |
|---|---|---|
| Rating | 4.1/5 | 4.7/5 |
| Foundation Year | 2014 | 2007 |
| Regulated in Countries | Comoros | Seychelles, Australia, Cyprus, Kenya |
| Minimum Deposit |
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| Spread | from 0 points | from 0 points |
| Max Leverage | 1:1000 | 1:500 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Review | xChief Review | IC Markets Review |
xChief is suitable for traders looking for a wide range of trading instruments and low spreads. However, the broker is not suitable for those seeking a strong analytical section and educational courses
IC Markets is suitable for traders looking for low spreads and ECN accounts and the ability to scalp and use expert advisors.
xChief Review
xChief offers traders a variety of opportunities and services for successful trading in the Forex market. With a wide selection of trading instruments, reliable trading platforms, contests, and educational materials, the broker creates conditions for developing traders of all experience levels.
Pros and Cons of xChief
Pros
- A wide range of trading instruments.
- Availability of cent and PAMM accounts.
- Tight spreads and low commission per transaction.
- Scalping and algorithmic trading allowed.
Cons
- Regulation in an offshore jurisdiction.
- Weak analytical section.
- No educational courses and webinars for beginner traders.
xChief is in the top 10 of the following ratings:
IC Markets Review
IC Markets is a reliable and versatile broker that offers a wide range of services and tools for trading in the financial markets. The company provides impressive trading instruments, high-quality trading platforms, advanced analytical tools, and valuable education for traders of all levels.
IC Markets is likely most suitable for experienced traders who value deep liquidity, tight spreads, and advanced trading tools. Beginner traders can also benefit from the educational materials offered by the company, but they should be prepared for some additional expenses and a higher minimum deposit requirement.
Pros and Cons of IC Markets
Pros
- A wide range of trading assets.
- Low spreads.
- Variety of trading platforms.
- Quality educational materials.
- Efficient customer support service.
Cons
- High minimum deposit.
IC Markets is in the top 10 of the following ratings:
Reliability
| Broker | xChief | IC Markets |
|---|---|---|
| Reliability | 3/5 | 5/5 |
| Foundation Year | 2014 | 2007 |
| Regulated in Countries | Comoros | Seychelles, Australia, Cyprus, Kenya |
| Regulators | MISA MISA | SFSA SFSA ASIC ASIC CySEC CySEC CMA CMA |
xChief
ForexChief is of medium credibility, having a license from a body in an offshore jurisdiction.
IC Markets
IC Markets operates under the regulation of several jurisdictions, including ASIC in Australia, CySEC in Cyprus, and SFSA in the Seychelles, indicating a high degree of regulation.
Account Opening
| Broker | xChief | IC Markets |
|---|---|---|
| Account Opening | 5/5 | 4.5/5 |
| Minimum Deposit |
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xChief
Opening an account with Forex Chief is simple and fast thanks to a clear registration and verification process.
IC Markets
The account opening process at IC Markets is well-thought-out, transparent, and detailed, ensuring convenience and ease for clients. However, the high minimum deposit may deter many beginners.
Account Types
| Broker | xChief | IC Markets |
|---|---|---|
| Account Types | 5/5 | 3.8/5 |
| Trading Accounts |
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| Minimum Deposit |
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| Spread | from 0 points | from 0 points |
| Max Leverage | 1:1000 | 1:500 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Demo Account | ||
| Swap-free Account |
xChief
Forex Chief offers a variety of account types, satisfying the needs of different traders, from beginners to professionals.
Pros
- Wide selection of accounts: DirectFX, Classic+, cent, and Islamic.
- Demo accounts are available for novice traders.
- Investment accounts available: PAMM accounts and copy trading.
IC Markets
IC Markets' accounts are mainly aimed at experienced and professional traders.
Pros
- ECN accounts
- Ability to copy trades
- Access to VPS
Cons
- No cent accounts
- No fixed spread accounts
Commissions
| Broker | xChief | IC Markets |
|---|---|---|
| Commissions | 4.2/5 | 4.5/5 |
| Spread | from 0 points | from 0 points |
| Average Spread (EURUSD) | 0.7 | 0.62 |
| Commission per Lot | $2.5 | $3.5 |
xChief
Forex Chief offers attractive commissions and tight spreads, although swaps are average for the market. Rebates add extra benefits for active traders.
Pros
- Low commission per trade.
- Tight spreads.
- No inactivity fees and no withdrawal fees.
Cons
- High swaps.
IC Markets
IC Markets has low commissions. Fees for transactions on ECN accounts and spreads are acceptable to most traders, and the absence of charges for deposits/withdrawals and account inactivity is a significant advantage.
Deposit and Withdrawal
| Broker | xChief | IC Markets |
|---|---|---|
| Rating | 5/5 | 4.5/5 |
| Account Funding Methods |
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xChief
ForexChief offers a wide range of deposit and withdrawal methods without any fees on their part, with fast processing of requests.
IC Markets
IC Markets offers multiple options for depositing and withdrawing funds, but possible fees from banks and payment systems should be considered, along with some restrictions on withdrawal methods.
Markets and Products
| Broker | xChief | IC Markets |
|---|---|---|
| Markets and Products | 4/5 | 5/5 |
| Forex | 39 | 61 |
| Precious Metals | 2 | 7 |
| Energy Carriers | 3 | 5 |
| Indices | 10 | 25 |
| Stocks | 100 | 2175 |
| Cryptocurrency | 5 | 21 |
| Soft Commodities | - | 8 |
| ETF | - | 38 |
| Bonds | - | 10 |
xChief
Forex Chief offers a respectable variety of trading instruments.
Pros
- Wide range of currency pairs and CFDs.
- Access to cryptocurrency trading.
- Flexible margin requirements.
Cons
- Lack of soft commodities.
- Limited number of stock CFDs.
IC Markets
IC Markets offers various trading instruments, including currency pairs, CFDs on metals, energy resources, commodities, indices, stocks, bonds, and cryptocurrencies.
Trading Platforms
| Broker | xChief | IC Markets |
|---|---|---|
| Rating | 4/5 | 5/5 |
| Trading Platforms |
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xChief
Forex Chief offers widely used and functional MT4 and MT5 platforms, providing convenience and accessibility for traders.
Pros
- Use of popular and proven MT4 and MT5 platforms.
- Availability of platforms on various OS (Windows, iOS, Android).
Cons
- Lack of proprietary unique platform.
- Limited selection of platforms compared to some competitors.
IC Markets
IC Markets provides powerful and functional trading platforms suitable for various trader categories.
Analytics
| Broker | xChief | IC Markets |
|---|---|---|
| Rating | 3/5 | 5/5 |
xChief
ForexChief offers basic analytical tools, but they are generally insufficient for serious trading.
Pros
- Current central bank interest rates.
- Convenient trader's calculator.
Cons
- Outdated economic articles.
- Insufficient variety of analytical tools.
IC Markets
IC Markets provides its clients with an extensive set of analytical tools and materials, which can assist them in successful trading in the financial markets.
Education
| Broker | xChief | IC Markets |
|---|---|---|
| Rating | 3/5 | 5/5 |
xChief
ForexChief's educational materials cover the basics, but do not offer in-depth training.
Pros
- Wide range of article topics for beginners.
- Various trading strategies and indicators are presented.
Cons
- Lack of more advanced materials.
- No video tutorials or webinars.
IC Markets
IC Markets offers a wide range of educational resources, from interactive video lessons to webinars and podcasts, demonstrating care for their clients and a commitment to providing all the necessary resources for successful trading.
Customer Support
| Broker | xChief | IC Markets |
|---|---|---|
| Rating | 4/5 | 4.7/5 |
| Email Support |
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| Hotline Phones |
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| Social Media |
Twitter
Facebook
Instagram
LinkedIn
YouTube
TelegramxChief
ForexChief support is well-organized and easily accessible, but has limited operating hours.
IC Markets
IC Markets provides a variety of communication channels, ensuring support service accessibility for clients. Numerous client reviews indicate the support team's quick response and high professionalism.
Pros
- Positive reviews about professional support
- Multiple channels for support communication
- Support is available 24/7
Cons
- Only international call option is available
