IC Markets vs FXTM vs XTB - Fees Review included
| Feature | IC Markets | FXTM | XTB |
|---|---|---|---|
Overall |
4.7 |
4.5 |
4.3 |
5 |
4.9 |
4.7 |
|
4.9 |
4.7 |
3.8 |
|
4.6 |
4.5 |
4.7 |
|
Investment Instruments |
4.9 |
4.2 |
1 |
Platforms and Charting Tools |
4.4 |
4.3 |
4.4 |
Deposit and Withdrawal |
4.6 |
4.6 |
4.8 |
Research |
4.3 |
4.5 |
4.1 |
Education |
4.4 |
4.6 |
4.4 |
Support |
4.6 |
4.4 |
4.5 |
Bonuses |
2.5 |
2.9 |
4.6 |
|
|
|
|
IC Markets vs FXTM vs XTB: Pros and Cons
IC Markets Trading Company was founded in 2007 in Sydney, Australia. The broker is licensed under the Australian Financial Services License (AFSL) and the Australian Securities and Investment Commission (ASIC). The broker is also a member of the Australian Financial Complaint Authority (AFCA), the governing body that sets the industry standard for the resolution of disputes between consumers and financial service providers, and regularly undertakes audits.
Broker FXTM (pronounced "ForexTime") started in 2011. It provides an opportunity to make a profit through active trading or investment programs. The company is regulated by CySEC (Cyprus Securities and Exchange Commission), South African FSCA (Financial Sector Supervision Authority), UK FCA (Financial Conduct Authority), and FSC (Mauritius Financial Supervisory Commission). The broker has received many awards, including "Best Trading Conditions" (2018, 2019) and "Most Innovative Broker" (2018).
The X Trade Brokers (hereinafter “XTB”) is registered in Belize and provides a fairly extensive list of financial services to traders. The company was incorporated in 2002 and its financial regulator is the Belize International Financial Services Commission (IFSC). The broker has offices in Spain, Poland, and the UK, where it is authorized and regulated by the National Financial Supervision Commissions. The XTB is focused on working primarily with European investors. It has several significant awards, including the Best Broker in Europe award by Global Banking & Finance Review and Best Financial Teacher by World Finance Exchange & Brokers.
| IC Markets | FXTM | XTB | |
|---|---|---|---|
| Overall Pros | World biggest Forex broker, over 180,000 clients and $1.11 trln monthly turnover in 2022 | Direct US stock trading with zero fees | 2100+ trading instrumetns |
| Advanced ECN trading | Stock baskets | Big choice of ETF CFDs | |
| Order execution speed 40 mc | 3 types of ECN accounts | Everage EURUSD spread 0.1 pip | |
| Free VPS | Low fees and near zero spreads | Advanced xStation trading platform | |
| Trading servers in New York and London | Well regulated forex broker | Well regulated broker | |
| Strong regulation | FXTM invest copy trading platform | ||
| 2000+ trading assets, 60+ currency pairs | Trading signals and trading calculators tools | ||
| EURUSD Average spread 01 pip | |||
| Overall Cons | No forex bonuses | Lack of cryptocurrency | High non trading fees - 1.5% commission for withdrawal to credit cards, Account fee 10EUR etc. |
| World biggest Forex broker, over 180,000 clients and $1.11 trln monthly turnover in 2022 | High stock CFDs fees |
IC Markets vs FXTM vs XTB: Safety and Regulation
| Regulated By: | IC Markets | FXTM | XTB |
|---|---|---|---|
US Regulation |
No |
No |
NO |
FCA (Great Britain) |
Yes |
Yes |
Yes |
CySec (Cyprus, EU) |
Yes |
Yes |
Yes |
ASIC (Australia) |
AFCA (Australia) |
No |
No |
Other Regulators |
Yes |
ForexTime is registered with the UK Financial Conduct Authority (FCA) under the number 600475 and is regulated by the CySEC of Cyprus (under number 185/12) and the South African FSCA (number 46614). The broker is also regulated by the Financial Services Commission of the Republic of Mauritius, FSC (number C113012295). |
International Financial Services Commission in Belize. (IFSC License No.: 000302/185) |
IC Markets vs FXTM vs XTB: Trading Conditions
| Trading Conditions | IC Markets | FXTM | XTB |
|---|---|---|---|
Minimum Deposit |
$200 |
$50 |
$1 |
Trading Platforms |
MT4, MT5, cTrader |
MT4, MT5 |
MetaTrader 4 and xStation 5 |
Max Leverage (Futures) |
1-500 |
1-2000 (not for all markets) |
1-500 (only for non EU and UK clients), 1-30 |
Supported Markets |
Forex, futures, CFDs on indices, commodities, metals, stocks and bonds |
Forex, Stocks, CFDs on stocks, indexes, Commodities, Metals |
Forex, CFDs on Stocks, Commodities, Metals, Cryptocurrencies and ETFs |
Trading assets |
2000+ |
1000+ |
2100+ |
Trading Accounts |
cTrader, Raw Spread, Standard |
Standard, Cent, Stocks, Stock CFDs, ECN , ECN Zero, FXTM pro |
Demo, Standard, Pro, Islamic |
Base Account Currencies |
USD, AUD, GBP, CHF, JPY, NZD, SGD, CAD, HKD, BTC |
USD, EUR, GBP, NGN |
USD |
IC Markets vs FXTM vs XTB: Fees
Forex Trading Fees
| Fee | IC Markets | FXTM | XTB |
|---|---|---|---|
Standard Account EURUSD Average Spread |
0.62 pips |
1.5 pips |
1 pip |
Standard Account Fee |
$0 |
$0 |
$0 |
ECN/STP Account Fee |
$3 per lot |
$2 per lot |
Not supported |
ECN Account EUR Average Spread |
0.02 pip |
0.1 pips |
Not supported |
CFD Trading Fees
| Fee | IC Markets | FXTM | XTB |
|---|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
0.3% for stock and ETF CFDs trading, 4USD per 1 BTC, 10 ETH, 1000 LTC |
Non-Trading Fees
| Fee | IC Markets | FXTM | XTB |
|---|---|---|---|
Account Fee |
No |
No |
$10 EUR per month |
Deposit Fee |
No |
No |
No |
Withdrawal Fee |
No |
Bank 30 EUR, Card - 3 USD / 2 EUR / 2 GBP, FacaPay - 0.5% |
1.5% of the amount (but not less than USD 30) when withdrawing money to a bank card (Visa, Mastercard), as well as when withdrawing to SafetyPay. When withdrawing to Neteller and Skrill, XTB charges 2% of the withdrawal amount. |
Inactivity Fee |
No |
$5 per month after 6 months of inactivity |
€10 per month after 12 months of inactivity |
IC Markets vs FXTM vs XTB: Trading Assets
| Asset Name | IC Markets | FXTM | XTB |
|---|---|---|---|
Overall |
2000+ trading assets |
1000+ |
2100+ |
Forex |
Yes |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
No |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
Yes (CFD) |
ETFs |
Yes (CFD) |
Yes (CFD) |
Yes (CFD) |
Bonds |
Yes (CFD) |
No |
No |
Mutual funds |
No |
No |
No |
Stock options |
No |
No |
No |
Futures Trading |
Yes (CFD) |
Yes |
No |
Binary Options |
No |
No |
No |
IC Markets or FXTM or XTB: Investment Programs
| Asset Name | IC Markets | FXTM | XTB |
|---|---|---|---|
Copy Trading |
Yes |
Yes |
No |
MAM/PAMM |
Yes |
No |
No |
Managed Accounts |
No |
Yes |
No |
Other |
No |
No |
No |
Trading Platforms: IC Markets or FXTM or XTB
| IC Markets | FXTM | XTB | |
|---|---|---|---|
MT4 |
Yes |
Yes |
Yes |
MT5 |
Yes |
Yes |
No |
cTrader |
Yes |
No |
No |
Appropriate platform |
IC Markets terminal |
FXTM invest |
xStation 5 |
Others |
No |
No |
No |
|
|
|
|
IC Markets vs FXTM vs XTB: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | IC Markets | FXTM | XTB |
|---|---|---|---|
Bank Transfer |
Yes |
Yes |
Yes |
Credit/Debit Card |
Yes |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Yes |
Crypto |
No |
No |
No |
IC Markets vs FXTM vs XTB: Research
| Research Type | IC Markets | FXTM | XTB |
|---|---|---|---|
News Feed |
Yes |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
No |
Trading Ideas |
Yes |
Yes |
No |
E-Mail Reports |
Yes |
Yes |
No |
IC Markets vs FXTM vs XTB: Education
| Education Type | IC Markets | FXTM | XTB |
|---|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Yes |
Webinars |
Yes |
Yes |
Yes |
Articles |
Yes |
Yes |
Yes |
Videos |
Yes |
Yes |
Yes |
Cent account |
No |
Yes |
No |
IC Markets vs FXTM vs XTB: Support
| Support Features | IC Markets | FXTM | XTB |
|---|---|---|---|
Working Days |
24/5 |
24/5 |
24/5 |
Yes |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Yes |
Online chat |
Yes |
Yes |
Yes |
Other |
No |
callback, Telegram, Messenger Facebook, WhatsApp, |
No |
IC Markets vs FXTM vs XTB: Forex Bonuses and Promo
| Promo | IC Markets | FXTM | XTB |
|---|---|---|---|
Forex Bonus |
Not offered |
cashback of up to $5 |
Welcome bonus for non UK/EU & MENA residents . 50% of your first deposit can be added to your account if you trade a minimum amount of lots (15% of your first deposit amount) within 60 days of your account opening, clients should aply for Welcombe bonus and deposit at least $100. |
Affiliate Program |
% of trading commissions |
Refer a friend. For each new invited client, the partner receives $50 |
The XTB affiliate program allows a client of the company to earn additional income by advertising the broker and attracting new clients. The amount of such income is up to 20% of the spread of the referred client |
Other Promos |
he XTB cashback (rebates) program is primarily for traders who trade actively. The client has the opportunity to receive partial compensation of the spread, subject to the fulfillment of the monthly trading volume |
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Top 5 Reviews on IC Markets
-
Comment
I decided to use the services of IC Markets not long ago. Now I think that not all negative reviews are justified. This is a good broker and I have already withdrawn profits several times, everything went without problems. IC Markets’ rates differ from those of other brokers. But you can adapt to this problem.
-
Comment
I initially paid $3000 to start with and an account manager demonstrated a growth of $500 in quick time. A specialist then came in and tried to get me to invest $25000 to which I bluntly denied and they tried with $20K, then $10K and even $5K to all of which I refused! They have now kept me hanging and I asked for a refund to which they are asking for more money from me and I don't know what more to do! Also as of yesterday, the site itself is DOWN!! I cannot log in anymore and the email contact i had from there, when i sent the email to check it came back saying that domain does not exist anymore!! I am at loss of words and my hard earned money unfortunately i was able to recover my money back with the help of Olivia teams get in touch with them oliviatrader 44 at gmail com WhatApp +1 (423) 248 - 2140
-
Comment
I was looking for a reliable broker and noticed the long existence and good reputation of ICMarkets. Moreover, my friend, who has been trading for a long time, recommended contacting them. After several years, I have become a more experienced trader and I am satisfied with the work of the broker.
-
Comment
I have been trading with IC Markets for some time now and I can draw some conclusions. The platform works stably, which indicates a serious approach to its work. Spreads are quite optimal, although for cryptocurrencies they are higher than average as compared to those of its competitors. Slippages occur, there is nothing you can do about it. But there are no problems with requotes at all. In general, I think it’s possible to rate IC Markets “good”.
-
Comment
There are many advantages to IC Markets broker. First, of course, is the presence of a license from a reputable regulator. Accounts can be opened for citizens of many countries. Second, the platform works very well. Order execution speed is high, and you can actively trade manually or with the help of an advisor. I am quite satisfied with IC Markets as a broker.
Top 5 Reviews on FXTM
-
Comment
I noticed a great difference between trading on a demo account and a live one with FXTM. There were no requotes or significant slippages on the demo account, which created the illusion of simple trading. However, when switching to a live account on the FXTM platform, some technical problems arose that made successful trading difficult. Apparently, real conditions require a more attentive and cautious approach to trading.
-
Comment
One day I decided to try my hand at trading with FXTM. However, they don't seem to be very interested in new traders. Managers from FXTM did not even want to help me complete the verification procedure to withdraw funds. In the end, I earned some money, provided them with the necessary documents, but they still blocked my user account when I submitted a withdrawal request. They refused to even discuss it and treated me rudely. FXTM managers are simply disrespectful.
-
Comment
I decided not to trade with FXTM. I won’t deny it, I limited myself to only testing a demo account with this company. It turned out that the order execution speed is very low, so orders are opened at unprofitable prices, and it is impossible to conduct a normal market analysis. I think I'm not the only one who encountered such problems at FXTM.
-
Comment
FXTM is creating problems when traders execute successful trades. At first glance, they give traders the opportunity to work and even withdraw small amounts of profit. However, as soon as profitable operations begin, difficulties occur. Withdrawing funds becomes problematic as support begins to suspect its clients of “dubious trades”. I don't recommend FXTM.
-
Comment
FXTM is a dishonest broker! I don’t even want to recall how I was deceived here! The support assured that everything was transparent and there was no manipulation. Then why does the price always, before closing an order, suddenly go against me? And it would be okay if it were on several trades! But this happens all the time! FXTM just completely took my deposit!
Top 5 Reviews on XTB
-
Comment
XTB’s platform works perfectly, there are almost no slippages or requotes, and execution is usually instant, which significantly increases the chances of profit. Few brokers can boast of such a high-quality platform.
-
Comment
There are quite a lot of brokerage companies. There are good and bad brokers, and those who have nothing to do with financial markets at all. XTB is not a perfect company, but it has many advantages over others. Its main advantage is client support, account maintenance, and a low entry threshold. Personally, I decided on this company.
-
Comment
I chose XTB among many brokers 6 months ago. Spread is low, execution is smooth, and withdrawals are quick on weekdays. This is quite enough for me.
-
Comment
xtb is an excellent company, I have been working with it for 3 years. I withdraw large sums to the card. The quotes are even without problems, there is a choice of other platforms, and fees are minimal. I totally confirm reviews of xtb!
-
Comment
I consider xtb a promising broker. I worked with it for some time — everything was excellent and most importantly of high quality. When I was withdrawing funds for the first time, I had to wait a little and I even started to get nervous, but in the end everything worked out. So I recommend this company as honest and of high quality.
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FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.