IC Markets vs XM Comparison: Which Is Better for Traders?
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 - IC Markets or XM?
Our pick: XM
Based on multiple factors - spreads and fees, available assets and instruments, execution quality, platform usability, support level, and educational resources - XM looks preferable to IC Markets.
XM scored 4.7/5 and ranks 2 in our all Forex brokers list, whereas IC Markets has 4.7/5 and ranks 4.
This is not financial advice. See the full comparison below.
Who is IC Markets suitable for?
IC Markets is suitable for traders looking for low spreads and ECN accounts and the ability to scalp and use expert advisors.
Who is XM suitable for?
Broker XM is suitable for both novice traders, thanks to educational materials, and experienced traders who value a variety of instruments.
Comparison Table of IC Markets and XM
| Broker | IC Markets | XM |
|---|---|---|
| Rating | 4.7/5 | 4.7/5 |
| Foundation Year | 2007 | 2009 |
| Regulated in Countries | Seychelles, Australia, Cyprus, Kenya | Belize, Cyprus, Australia, South Africa, United Arab Emirates, Mauritius, Seychelles |
| Minimum Deposit |
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| Spread | from 0 points | from 0 points |
| Max Leverage | 1:500 | 1:1000 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Review | IC Markets Review | XM Review |
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:
XM Review
XM broker offers a wide range of services, making it an attractive option for various traders. With over 1500 trading instruments, extensive educational resources, and numerous trading platforms, XM is ideally suited for beginners and experienced traders. Novice traders will particularly appreciate the accessible educational materials and low entry threshold, while professionals will find the competitive spreads and diversity of instruments appealing.
Pros and Cons of XM
Pros
- Wide range of trading assets.
- Extensive educational resources.
- Tight spreads on the Ultra Low account.
- Many analytical materials.
- Commission-free deposits and withdrawals.
Cons
- Inactivity fee.
- Standard account has a higher spread than the market average.
XM is in the top 10 of the following ratings:
Reliability
| Broker | IC Markets | XM |
|---|---|---|
| Reliability | 5/5 | 5/5 |
| Foundation Year | 2007 | 2009 |
| Regulated in Countries | Seychelles, Australia, Cyprus, Kenya | Belize, Cyprus, Australia, South Africa, United Arab Emirates, Mauritius, Seychelles |
| Regulators |
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.
XM
XM is a reliable and well-regulated broker with licenses in key jurisdictions. Segregated accounts, negative balance protection, and a compensation fund make it a safe choice for traders.
Pros
- Licenses from ASIC, CySEC, DFSA, and other regulators
- Segregation of client funds
- Negative balance protection and compensation scheme
Account Opening
| Broker | IC Markets | XM |
|---|---|---|
| Account Opening | 4.5/5 | 5/5 |
| Minimum Deposit |
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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.
XM
Opening an account with XM is fast and convenient: registration takes only a few minutes, the interface is intuitive, and document requirements are standard.
Pros
- Fast online registration
- Clear and straightforward KYC process
- Ability to open demo and additional accounts
Account Types
| Broker | IC Markets | XM |
|---|---|---|
| Account Types | 3.8/5 | 4.5/5 |
| Trading Accounts |
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| Minimum Deposit |
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| Spread | from 0 points | from 0 points |
| Max Leverage | 1:500 | 1:1000 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Demo Account | ||
| Swap-free Account |
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
XM
XM broker offers various account types to satisfy the needs of different traders, from beginners to professionals.
Pros
- A wide choice of accounts for different experience levels
- Flexible trading conditions (leverage, deposit)
- Specialized accounts for stock trading
Cons
- No ECN or STP accounts
Commissions
| Broker | IC Markets | XM |
|---|---|---|
| Commissions | 4.5/5 | 4/5 |
| Spread | from 0 points | from 0 points |
| Average Spread (EURUSD) | 0.62 | 1.7 |
| Commission per Lot | $3.5 |
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.
XM
XM’s fees can be considered competitive: the Ultra Low account offers reduced spreads, while the absence of deposit and withdrawal fees lowers overall costs. With active trading, the conditions are attractive.
Pros
- Reduced spreads on the Ultra Low account
- No deposit or withdrawal fees
- Ability to lower costs through rebates
Cons
- Above-average spreads on the Standard account
- Inactivity fee applies
Deposit and Withdrawal
| Broker | IC Markets | XM |
|---|---|---|
| Rating | 4.5/5 | 4.5/5 |
| Account Funding Methods |
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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.
XM
The broker offers convenient deposit and withdrawal methods with zero commission but lacks cryptocurrency support.
Pros
- Zero commission for deposits and withdrawals
- A minimum limit of only 5 dollars
- Quick processing of withdrawal requests
Cons
- No cryptocurrency deposit/withdrawal options
Markets and Products
| Broker | IC Markets | XM |
|---|---|---|
| Markets and Products | 5/5 | 5/5 |
| Forex | 61 | 55 |
| Precious Metals | 7 | 3 |
| Energy Carriers | 5 | 3 |
| Soft Commodities | 8 | 8 |
| Indices | 25 | 50 |
| Stocks | 2175 | 1307 |
| ETF | 38 | - |
| Bonds | 10 | - |
| Cryptocurrency | 21 | 58 |
IC Markets
IC Markets offers various trading instruments, including currency pairs, CFDs on metals, energy resources, commodities, indices, stocks, bonds, and cryptocurrencies.
XM
The broker offers a wide range of markets and products, including over 1500 items.
Pros
- A large selection of currency pairs
- Access to CFDs on various assets
- The ability to trade cryptocurrencies
Trading Platforms
| Broker | IC Markets | XM |
|---|---|---|
| Rating | 5/5 | 4.5/5 |
| Trading Platforms |
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IC Markets
IC Markets provides powerful and functional trading platforms suitable for various trader categories.
XM
XM offers various versions of MT4 and MT5 platforms, providing flexibility in trading.
Pros
- Availability on various devices (PC, Mac, mobile)
- MultiTerminal for managing multiple accounts
- WebTrader for browser-based trading
Cons
- No alternatives to MetaTrader
Analytics
| Broker | IC Markets | XM |
|---|---|---|
| Rating | 5/5 | 5/5 |
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.
XM
XM’s analytics are well structured and deeply integrated into the platform. Trading Central, market sentiment tools, calendars, and calculators make them useful for both active trading and careful pre-trade analysis.
Pros
- Trading Central integration and XM in-house analysis
- Economic calendar, corporate events, and calculators
- Clear market sentiment tools
Education
| Broker | IC Markets | XM |
|---|---|---|
| Rating | 5/5 | 5/5 |
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.
XM
XM's educational materials are extensive and varied, suitable for all experience levels.
Pros
- A wide range of materials: webinars, videos, seminars
- Available in different languages
- Daily online sessions with experts
Customer Support
| Broker | IC Markets | XM |
|---|---|---|
| Rating | 4.7/5 | 5/5 |
| Email Support |
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| Hotline Phones |
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| Social Media |
Twitter
Facebook
Instagram
LinkedIn
YouTubeIC 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
XM
XM’s customer support operates reliably 24/7, offering multiple contact channels and multilingual assistance. Most issues are resolved quickly and professionally, which supports the broker’s high service rating.
Pros
- 24/7 support via chat, email, phone, and messengers
- Multilingual assistance
- Strong knowledge of products and procedures
Comparisons of IC Markets and XM with other brokers
Conclusion
XM stands out as the better overall pick, while IC Markets trails on aggregate criteria.
XM scored 4.7/5 and ranks 2 in our rating; IC Markets has 4.7/5 and ranks 4.
We explain the reasons above in detail — fees, platforms, reliability, support, and more.
FAQ
Which broker is better: IC Markets or XM?
XM comes out ahead by overall rank (score 4.7/5, position 2) versus IC Markets (score 4.7/5, position 4).
Which broker is better for beginners: IC Markets or XM?
XM is often a smoother start thanks to simpler onboarding and stronger baseline metrics. Still, your tools and budget should drive the final choice.
Who has lower typical trading costs (spreads/commissions) — IC Markets or XM?
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 IC Markets and XM?
IC Markets: MetaTrader 5, MetaTrader 4, cTrader, TradingView. XM: MetaTrader 5, MetaTrader 4, WebTrader. See the “Platforms” section for details and selection tips.
What markets can you trade with IC Markets and XM?
IC Markets: Forex, Precious Metals, Energy Carriers, Soft Commodities, Indices, Stocks, ETF, Bonds, Cryptocurrency. XM: Forex, Precious Metals, Energy Carriers, Soft Commodities, Indices, Stocks, Cryptocurrency. Full lists and differences are in the “Markets” section.
What account types are offered by IC Markets and XM?
IC Markets: Standard, Raw Spread cTrader, Raw Spread. XM: Standard, Micro, XM Ultra Low, Shares. See “Account Types” for a side-by-side comparison.
What deposit and withdrawal methods are supported by IC Markets and XM?
IC Markets: PayPal, Neteller, Skrill, Bpay, FasaPay, Klarna, Swift, SEPA, Visa, Mastercard, UnionPay, POLi, Rapidpay. XM: Neteller, Skrill, SticPay, Swift, Visa, Mastercard. Check method-specific fees/settlement times.
Which broker is safer — IC Markets or XM — and how was this assessed?
We consider regulation, corporate transparency, fund protection, and incident history. See the “Reliability” section for our findings.
