xChief vs IC Markets Comparison
Compare trading conditions, commissions and platforms of Forex brokers xChief and IC Markets. Find out which broker is best for you.
We test brokers on real accounts using our own methodology, evaluating the quality of order execution, trading conditions, platforms and customer support.
Who is better - xChief or IC Markets?
Key differences between the brokers
Below, we show only the differences in trading conditions covered in our reviews. These may include the minimum deposit, available markets, platforms and account types. Compare these details with your requirements.
xChief
- Minimum deposit · USD
- 1 USD
- Different platforms
- None listed
- Different markets
- None listed
- Cent account
- Yes
IC Markets
- Minimum deposit · USD
- 200 USD
- Different platforms
- cTrader
- TradingView
- Different markets
- Soft Commodities
- ETF
- Bonds
- Cent account
- No
Comparison Table of xChief and IC Markets
Swipe the table left or right to view all data.
| Broker | xChief | IC Markets |
|---|---|---|
| Foundation Year | 2014 | 2007 |
| Regulated in Countries | Comoros, South Africa, Kazakhstan | Seychelles, Australia, Cyprus, Kenya |
| Minimum Deposit |
|
|
| Spread | from 0 points | from 0 points |
| Max Leverage | 1:1000 | 1:500 |
| Trading Assets (CFDs) |
|
|
| Trading Platforms |
|
|
| Review | xChief Review | IC Markets Review |
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
- 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
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| Broker | xChief | IC Markets |
|---|---|---|
| Reliability | 4/5 | 5/5 |
| Foundation Year | 2014 | 2007 |
| Regulated in Countries | Comoros, South Africa, Kazakhstan | Seychelles, Australia, Cyprus, Kenya |
| Regulators |
xChief
xChief’s reliability can be rated as average. The group holds MISA, FSCA, and AFSA licences, but most retail clients are served by the offshore entity XCHIEF LTD, which provides a limited level of protection.
Pros
- The group includes several regulated entities.
- Holds FSCA and AFSA licences.
Cons
- Most retail accounts are regulated by MISA.
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
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| Broker | xChief | IC Markets |
|---|---|---|
| Account Opening | 5/5 | 4.5/5 |
| Minimum Deposit |
|
|
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
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| Broker | xChief | IC Markets |
|---|---|---|
| Account Types | 5/5 | 3.8/5 |
| Trading Accounts |
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|
| Minimum Deposit |
|
|
| 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
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| 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 1 lot$2.50 | per 1 lot$3.50 |
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
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| 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
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| 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
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| Broker | xChief | IC Markets |
|---|---|---|
| Rating | 4/5 | 5/5 |
| Trading Platforms |
|
|
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
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| 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
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| 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
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| Broker | xChief | IC Markets |
|---|---|---|
| Rating | 4/5 | 4.7/5 |
| Email Support | ||
| Hotline Phones | ||
| Social Media |
xChief
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
Comparisons of xChief and IC Markets with other brokers
Conclusion
When choosing between IC Markets and xChief, match their platforms, markets, account types and funding terms to your needs.
Before opening an account, verify fees, regulation, support and service availability for your country in the sections above.
FAQ
Which broker is better: xChief or IC Markets?
IC Markets ranks higher than xChief in our editorial ranking. That does not make it a universal choice: compare fees, markets, platforms, account types and support.
Which broker is better for beginners: xChief or IC Markets?
Beginners should compare availability in their country, account types, minimum deposit, trading platforms and customer support.
Who has lower typical trading costs (spreads/commissions) — xChief or IC Markets?
It depends on the instrument and account type. Compare the live conditions in the “Commissions” section on this page — we break down the nuances category by category.
What trading platforms are available with xChief and IC Markets?
xChief: MetaTrader 4, MetaTrader 5. IC Markets: MetaTrader 5, MetaTrader 4, cTrader, TradingView. See the “Platforms” section for details and selection tips.
What markets can you trade with xChief and IC Markets?
xChief: Forex, Precious Metals, Energy Carriers, Indices, Stocks, Cryptocurrency. IC Markets: Forex, Precious Metals, Energy Carriers, Soft Commodities, Indices, Stocks, ETF, Bonds, Cryptocurrency. Full lists and differences are in the “Markets” section.
What account types are offered by xChief and IC Markets?
xChief: CENT, Classic+, DirectFX, xPRIME. IC Markets: Standard, Raw Spread cTrader, Raw Spread. See “Account Types” for a side-by-side comparison.
What deposit and withdrawal methods are supported by xChief and IC Markets?
xChief: Skrill, Neteller, Volet, WebMoney, FasaPay, SEPA, Credit and Debit Cards, Online banking. IC Markets: PayPal, Neteller, Skrill, Bpay, FasaPay, Klarna, Swift, SEPA, Visa, Mastercard, UnionPay, POLi, Rapidpay. Check method-specific fees/settlement times.
Which broker is safer — xChief or IC Markets — and how was this assessed?
We consider regulation, corporate transparency, fund protection, and incident history. See the “Reliability” section for our findings.
