IC Markets vs XM - Fees Review included
Which broker is better IC Markets or XM? Our expert assessment conducted according to TU’s own methodology showed that IC Markets is one of the top brokers in the financial market with the TU Overall Score of 8.37 out of 10. XM is one of the top brokers in the financial market with the TU Overall Score of 8.62 out of 10. Find out more about TU Overall Score.
Feature | IC Markets | XM |
---|---|---|
Overall |
4.7 |
4.5 |
5 |
4.9 |
|
4.9 |
4.3 |
|
4.6 |
4.4 |
|
Investment Instruments |
4.9 |
4.4 |
Platforms and Charting Tools |
4.4 |
4.6 |
Deposit and Withdrawal |
4.6 |
4.7 |
Research |
4.3 |
5 |
Education |
4.4 |
5 |
Support |
4.6 |
4.6 |
Bonuses |
2.5 |
5 |
|
|
IC Markets vs XM: 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.
XM Broker was founded in 2009. Initially, the company covered a narrow niche of the trader market, specializing exclusively in intermediary services at the foreign exchange market. It has since experienced considerable success and growth. XM is reliable and safe. It has diversified and is now an international broker operating in almost 190 countries around the world. For over a decade XM Broker has attracted 3,5 million traders, offering unique technological solutions. The company is now being recognised as the Fastest Growing Broker, the Best Forex Service Provider and various other contributing achievements. The team at XM Broker is committed to continually working hard to improve the quality of the services provided every year as they are committed to continually providing the best service to their traders.
IC Markets | XM | |
---|---|---|
Overall Pros | World biggest Forex broker, over 180,000 clients and $1.11 trln monthly turnover in 2022 | Well-Regulated broker |
Advanced ECN trading | Strong research tools | |
Order execution speed 40 mc | Strong education | |
Free VPS | Big Forex bonuses | |
Trading servers in New York and London | Free deposit and withdrawal | |
Strong regulation | Instant withdrawal | |
2000+ trading assets, 60+ currency pairs | 1000+ trading assets | |
EURUSD Average spread 01 pip | ||
Overall Cons | No forex bonuses | High spreads |
World biggest Forex broker, over 180,000 clients and $1.11 trln monthly turnover in 2022 |
IC Markets vs XM: Safety and Regulation
Regulated By: | IC Markets | XM |
---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
Yes |
CySec (Cyprus, EU) |
Yes |
Yes |
ASIC (Australia) |
AFCA (Australia) |
Yes |
Other Regulators |
Yes |
IFSC (Belize) |
IC Markets vs XM: Trading Conditions
Trading Conditions | IC Markets | XM |
---|---|---|
Minimum Deposit |
$200 |
$5 |
Trading Platforms |
MT4, MT5, cTrader |
MT4, MT5 |
Max Leverage (Futures) |
1-500 |
1:888, 1:30 (for EU, UK clients) |
Supported Markets |
Forex, futures, CFDs on indices, commodities, metals, stocks and bonds |
Forex, CFDs on indices, commodities, crypto, metals, stocks |
Trading assets |
2000+ |
1300+ |
Trading Accounts |
cTrader, Raw Spread, Standard |
Micro, Standard, Ultra Low, Zero |
Base Account Currencies |
USD, AUD, GBP, CHF, JPY, NZD, SGD, CAD, HKD, BTC |
USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR |
IC Markets vs XM: Fees
Forex Trading Fees
Fee | IC Markets | XM |
---|---|---|
Standard Account EURUSD Average Spread |
0.62 pips |
1.7 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$3 per lot |
Not offered |
ECN Account EUR Average Spread |
0.02 pip |
Not offered |
CFD Trading Fees
Fee | IC Markets | XM |
---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
Fee | IC Markets | XM |
---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
No |
Inactivity Fee |
No |
$15 after 5 months of inactivity |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
IC Markets vs XM: Trading Assets
Asset Name | IC Markets | XM |
---|---|---|
Overall |
2000+ trading assets |
1300+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
Yes (CFD) |
Yes (CFD) |
Bonds |
Yes (CFD) |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes (CFD) |
No |
Binary Options |
No |
No |
IC Markets or XM: Investment Programs
Asset Name | IC Markets | XM |
---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: XM or IC Markets
IC Markets | XM | |
---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
Yes |
No |
Appropriate platform |
IC Markets terminal |
No |
Others |
No |
No |
|
|
IC Markets vs XM: Deposit and Withdrawal Methods
Deposit and Withdrawal Method | IC Markets | XM |
---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
No |
Yes |
IC Markets vs XM: Research
Research Type | IC Markets | XM |
---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
Yes |
IC Markets vs XM: Education
Education Type | IC Markets | XM |
---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
No |
Yes |
XM vs IC Markets: Support
Support Features | IC Markets | XM |
---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
IC Markets vs XM: Forex Bonuses and Promo
Promo | IC Markets | XM |
---|---|---|
Forex Bonus |
Not offered |
up to $5000 forex bonus, up to 100% forex deposit bonus |
Affiliate Program |
% of trading commissions |
Multi tier affiliate program |
Other Promos |
||
|
|
Top 5 Reviews on XM
-
Comment
XM offers leverage ranging from 1:1 to 1000:1, which isantop feature for traders looking to open a large position with a low trading capital. but after my experience trading with leverage on XM, i think new traders should avoid trading with leverage when they newly start trading on their live account. Leverages should be a feature for experts if i am to suggest. After trying leverages on demo accounts I decided to use it on my live accounts. Eager to dip my toes into the dynamic realm of financial markets, I deposited $100 into my trading account with XM, a renowned brokerage platform. Excitedly, I decided to trade the EUR/USD currency pair, one of the most widely traded pairs in the forex market. With a leverage of 1:100, I saw an opportunity to magnify the potential profits and opened a position. The EUR/USD pair seemed promising, with positive economic indicators favoring the Euro. I was optimistic as the trade commenced, envisioning significant gains. However, the market is as unpredictable as the wind, and soon, the trade turned against my proposed strategy. The leverage, while offering the potential for amplified gains, also exposed me to higher risks. As the EUR/USD pair plummeted, so did my account balance. In the blink of an eye, my $100 deposit dwindled away as a result of the fluctuations of the forex market. I realized the importance of risk management and the need for a thorough understanding of leverage. So my approach to trading is to implement strategies that would protect my capital in the future and to use a minimum of 1:10 leverage if I must use it anytime soon.
-
Comment
Beginner traders on XM group can benefit from the rich educational tools provided on the research and education section on the platform. When you click on the research button, resources available here are grouped into three different groups. Beginners alcan start learning about Forex trading with the options available under the learning center. Resources here will help a novice learn about the XM platform Forex and CFD trading. The videos available will introduce a beginner trader to the financial markets and instruments like shares, CFDs, Forex, Crypto, pips, lots, and position size. This videos are meant to breed novice traders from level 1 trader to an expert trader.
-
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 know XM Group and it turned out to be the right choice. I did not regret my decision, since XM Group turned out to be a normal company. Since then, I have been regularly earning around $350 per month using trading as an additional source of income. I have no particular complaints about XM Group and withdrawals of funds are ok. There were delays, but they were acceptable.
-
Comment
It has long been known that XM Group has nothing good to offer. All their strategies remained at the level of the last century. Training is expensive and will only result in a waste of time. And finally, trading. I don't know who XM Group is currently associated with, but note that it is not a broker, but an intermediary.
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.
- IC Markets vs FxPro
- Pepperstone vs IC Markets
- Capital.com vs IC Markets
- IC Markets vs AMP Global
- IC Markets vs NinjaTrader
- IC Markets vs Moneta Markets
- IC Markets vs Vantage
- IC Markets vs BlackBull Markets
- IC Markets vs SimpleFX
- IC Markets vs London Capital Group (LCG)
- IC Markets vs FXCC
- IC Markets vs Tradeview
- IC Markets vs Fullerton Markets
- IC Markets vs Trading 212
- IC Markets vs FXORO
- IC Markets vs BDSwiss
- IC Markets vs Amarkets
- IC Markets vs MultiBank
- IC Markets vs City Index
- IC Markets vs Swissquote
- IC Markets vs IG
- IC Markets vs Saxo Bank
- IC Markets vs Dukascopy
- IC Markets vs LiteForex
- IC Markets vs WelTrade
- IC Markets vs FXTM
- IC Markets vs CMC Markets
- IC Markets vs FP Markets
- IC Markets vs OctaFX
- IC Markets vs HotForex
- IC Markets vs TD Ameritrade
- IC Markets vs FBS
- IC Markets vs Pepperstone
- IC Markets vs Fusion Markets
- IC Markets vs XTB
- IC Markets vs Interactive Brokers
- IC Markets vs AvaTrade
- IC Markets vs Forex.com
- IC Markets vs Kot4x
- IC Markets vs HugosWay
- IC Markets vs Libertex
- IC Markets vs InstaForex
- FXTM vs IC Markets
- Oanda vs IC Markets
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.
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.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!