Compare IC Markets & XM: Fees, Spreads, And More

Editorial Note: While we adhere to strict Editorial Integrity, this post may contain references to products from our partners. Here's an explanation for How We Make Money. None of the data and information on this webpage constitutes investment advice according to our Disclaimer.

When comparing XM and IC Markets, both brokers offer competitive fees but with different pricing structures. IC Markets provides lower spreads, particularly on raw accounts, while XM has higher spreads but offers commission-free trading on standard accounts. Swap rates and deposit/withdrawal fees also vary, making it essential to choose the best broker, like XM and IC Markets, based on your trading strategy and cost preferences.

When deciding between XM and IC Markets, traders often compare different aspects of trading, such as whether they prefer tight spreads and low commissions or a commission-free model that includes bonus offers. Those who focus on high-frequency trading and scalping may find that IC Markets, with its raw spread accounts, offers better conditions, while traders who want a more straightforward account type without additional trading fees may lean towards XM, which provides a commission-free structure with occasional promotional bonuses.

For traders looking to understand how each broker performs in real-market conditions, reading reviews can give traders a real sense of execution speed, platform reliability, and customer service quality. By going through detailed XM and IC Markets reviews, traders can decide which broker fits their style best, whether they value low trading costs, strong customer support, or fast execution times.

Choosing the best broker depends on what traders prioritize most. Some may prefer the deep liquidity and lower spreads available with IC Markets, while others may find the flexible account types and beginner-friendly conditions offered by XM more suitable. Understanding how each broker meets different trading needs is key when comparing options. Evaluating important aspects such as fees, trade execution, and platform usability helps traders decide which platform works best for them when selecting the best broker between XM and IC Markets.

IC Markets vs XM

This article compares IC Markets and XM, focusing on fees, spreads, and trading conditions to help traders choose the right broker. It covers key differences in commissions, deposit and withdrawal policies, trading platforms, and supported assets. Readers will find a detailed breakdown of each broker’s strengths and weaknesses, including execution speed, account types, and regulatory oversight.

Additional sections highlight safety measures, trading conditions, and bonus offerings. The article also examines research and education tools, customer support, and real trader experiences through user reviews. A comparison table provides quick insights into important factors like trading costs, platform features, and investment options.

IC Markets vs XM
Feature	IC Markets	XM
Overall	4.7	4.5
Regulation	5	4.9
Fees	4.9	4.3
Trading assets	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
Open an account	Open an account Your capital is at risk.	Open an account Your capital is at risk.

IC Markets vs XM: pros and cons

IC Markets

IC Markets Review

Open an account

Your capital is at risk.

Founded in 2007 in Sydney, Australia, IC Markets has established itself as a leading brokerage firm. Operating under the Australian Financial Services License (AFSL) and regulated by the Australian Securities and Investment Commission (ASIC), the broker is committed to maintaining transparency and trust in the financial markets. Additionally, IC Markets is a member of the Australian Financial Complaint Authority (AFCA), which helps resolve disputes between consumers and financial service providers. With regular audits and a strong regulatory framework, IC Markets continues to attract traders who value a secure and professional trading environment.

XM

XM Group Review

Open an account

Your capital is at risk.

On the other hand, XM Broker, which was launched in 2009, initially focused on serving a specific niche within the foreign exchange market by providing intermediary services. Over time, XM expanded significantly and is now an international brokerage firm operating in nearly 190 countries. Known for its reliability and strong security measures, the broker has successfully attracted more than 3.5 million traders. By offering innovative technological solutions and earning multiple industry awards, XM has built a strong reputation for excellence. The company has been recognized as the Fastest Growing Broker and the Best Forex Service Provider, demonstrating its commitment to improving the quality of services year after year.

For traders analyzing the pros and cons of IC Markets and XM, it’s essential to compare their features, regulatory frameworks, and trading conditions. IC Markets, with its low spreads and ECN pricing model, appeals to traders looking for institutional-grade conditions. Meanwhile, XM, which offers a variety of educational resources and flexible account types, attracts both beginners and experienced traders who prefer a more accessible trading experience.

When conducting a detailed comparison between IC Markets and XM, traders should consider aspects such as trading fees, platform availability, and execution speeds. IC Markets, which specializes in ultra-low spreads and rapid trade execution, is ideal for scalpers and high-volume traders. In contrast, XM, with its generous bonus offerings and extensive research tools, is well-suited for those who prioritize educational support and promotional benefits. Ultimately, the right choice depends on whether a trader values cost-efficiency and professional-grade execution or prefers a broker that emphasizes user-friendly accessibility and added incentives.

IC Markets vs XM: pros and cons
Pros and cons	IC Markets	XM
Overall pros	World biggest Forex broker, over 180,000 clients and $1.11 trln monthly turnover Advanced ECN trading Order execution speed 40 mc Free VPS Trading servers in New York and London Strong regulation 2000+ trading assets, 60+ currency pairs EUR/USD average spread 0.1 pip	Well-Regulated broker Strong research tools Strong education Big Forex bonuses Free deposit and withdrawal Instant withdrawal 1000+ trading assets
Overall cons	No Forex bonuses	High spreads

IC Markets vs XM: safety and regulation

Both IC Markets and XM are regulated brokers, offering investor protection of up to €20,000. However, they do not hold licenses from major financial authorities like the FCA (UK), FINRA (US), BaFin (Germany), CFTC (US), or MAS, meaning they are not subject to the strict oversight of these regulators.

IC Markets and XM are regulated by ASIC (Australia) and FSA (Seychelles), ensuring compliance with financial standards. However, they lack approvals from other regional regulators such as FSCA (South Africa), BVI FSC, and VFSC. While both brokers provide a secure trading environment, traders who prioritize brokers with broader regulatory coverage may want to consider these factors when making their choice.

IC Markets vs XM: safety and regulation
Safety and regulation	IC Markets	XM
Max. regulation level	Tier-1	Tier-1
Investor protection	€20,000	€20,000
FCA UK regulation	No	No
FINRA (U.S)	No	No
BaFin (Germany)	No	No
ASIC (Australia)	Yes	Yes
CFTC (U.S)	No	No
MAS	No	No
FSCA SA	No	No
BVI FSC	No	No
VFSC	No	No
FSA (Seychelles)	Yes	Yes

IC Markets vs XM: trading conditions

When comparing trading conditions between XM and IC Markets, traders will notice differences in deposit requirements, leverage options, and market access. While IC Markets, with its tighter spreads and ECN execution model, requires a higher initial deposit, XM, which focuses on accessibility, allows traders to start with as little as $5.

In terms of platforms, both XM and IC Markets support MT4 and MT5, ensuring traders have access to industry-standard software. However, IC Markets, unlike XM, also offers cTrader, an additional platform known for its direct market access and advanced charting tools. This variety makes the XM and IC Markets platform selection suitable for different trading styles, whether a trader prefers traditional MetaTrader tools or a more advanced interface with cTrader.

Looking at funding requirements, the XM and IC Markets minimum deposit varies significantly. IC Markets requires traders to deposit at least $200, which aligns with its ECN-focused trading environment, while XM, catering to traders who want to start small, allows deposits as low as $5. This difference makes XM, with its low deposit threshold, a more budget-friendly choice, while IC Markets, which focuses on advanced tools and tighter spreads, is better suited for traders seeking a professional-grade experience.

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

When analyzing the fees charged by IC Markets and XM, traders will find that both brokers follow a similar pricing model, though the exact costs depend on the type of trading account selected. The structure of these fees at IC Markets and XM includes spreads, commissions, and other trading costs that vary based on whether a trader opts for a standard or ECN account.

The type of account a trader opens with IC Markets or XM plays a crucial role in determining the overall trading expenses. Both brokers offer different account types, and the choice between an IC Markets and XM account impacts factors such as commission rates, trading conditions, and available spreads. Standard accounts typically have EUR/USD spreads ranging between 0.8 and 1.0 pips, while ECN accounts provide ultra-tight spreads starting from just 0.1 pips, with a commission of $3.50 per lot.

A significant advantage of trading with IC Markets and XM is that neither broker imposes any fees on deposits or withdrawals, allowing traders to move funds freely without additional costs. Moreover, since neither platform charges inactivity fees, traders can maintain their accounts without worrying about extra charges over time. For those comparing spreads at IC Markets and XM, both brokers offer highly competitive pricing, making them attractive choices for traders who prioritize low-cost trading, whether using a standard or ECN account.

IC Markets vs XM: fees
Fees	IC Markets	XM
Standard acc. spread EUR/USD, min pips	0,8	0,8
Standard acc. spread EUR/USD, max pips	1,0	1,0
ECN сommission	3,5	3,5
ECN spread EUR/USD	0,1	0,1
Deposit fee, %	No	No
Withdrawal fee, %	No	No
Withdrawal fee, USD	No	No
Inactivity fee, $	No	No

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

When comparing different Forex brokers, both XM and IC Markets offer traders a variety of assets to trade. However, while IC Markets provides access to more than 2,000 instruments, XM, with around 1,300 options, has fewer choices than IC Markets. Traders looking to explore Forex through XM and IC Markets can trade CFDs on multiple asset classes, including currencies, stocks, metals, cryptocurrencies, energy markets, indices, and ETFs. One major difference is that IC Markets, unlike XM, also includes bonds and futures in its asset offerings, allowing traders to expand their portfolios beyond traditional markets.

For those considering XM and IC Markets for trading, both brokers provide Forex traders with access to a wide range of currency pairs. Additionally, they support CFD trading in major financial markets, so traders can explore different sectors. However, neither broker offers mutual funds, stock options, or binary options. While IC Markets is a better choice for traders who need access to bonds and futures, XM is still a strong choice for traders looking for a balanced but slightly smaller asset range.

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

When looking at IC Markets and XM investment programs, both brokers offer copy trading, allowing traders to follow and replicate the strategies of experienced investors. This is useful for those who prefer a more passive approach or want to learn from professional traders.

IC Markets provides MAM and PAMM accounts, which are beneficial for fund managers handling multiple clients, while XM does not offer this feature. Neither broker provides managed accounts or additional investment programs beyond copy trading. For traders seeking more investment flexibility, IC Markets stands out with its MAM/PAMM account options.

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

When comparing the platforms available on XM and IC Markets, both brokers provide access to industry-leading solutions such as MT4 and MT5. These trading platforms are well-known for their advanced charting tools, automated trading capabilities, and intuitive interfaces, making them highly suitable for traders of all experience levels.

While XM and IC Markets both offer strong trading platforms, IC Markets extends its features by incorporating cTrader, a platform recognized for its high-speed execution and enhanced trading tools. In contrast, XM does not support cTrader, which may be a consideration for traders who prefer additional flexibility. Moreover, IC Markets provides its own proprietary terminal, offering yet another option for traders who want alternatives beyond MT4 and MT5. Since XM, unlike IC Markets, does not feature an exclusive trading terminal, those looking for multiple platform choices might find IC Markets more appealing.

For those evaluating trading conditions on XM and IC Markets, both brokers deliver a stable and reliable trading environment. With access to deep liquidity, competitive spreads, and various execution models, XM and IC Markets provide solutions that cater to different trading styles, whether a trader focuses on scalping, day trading, or long-term investing.

Trading platforms: XM or IC Markets
Trading platforms	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

When evaluating how traders can move funds in and out of their accounts, both XM and IC Markets provide a variety of withdrawal methods. These brokers support widely used payment options, such as bank wire transfers, credit and debit cards, and e-wallets like Neteller, so traders can conveniently move their money in and out without hassle.

However, neither XM or IC Markets allows withdrawals or deposits through cryptocurrency options like BTC, nor do they support alternative services such as Wise, Payoneer, or USDT. For traders who prefer digital currencies or other payment solutions, this could be a drawback, which might lead some traders to explore brokers that support crypto transactions.

When considering the minimum deposit requirements, there is a clear difference between the XM and IC Markets:

at XM, traders can start with as little as $5, making it an attractive option for beginners or those who want to test the platform with a smaller amount.
at IC Markets, the minimum deposit is $200, so XM is a great low-cost option, while IC Markets may be better suited for those comfortable with a higher initial deposit.

For funding accounts, both XM and IC Markets have a simple deposit process that supports multiple payment methods. Since both brokers offer different payment methods, traders can pick whichever works best for them. However, traders who rely on crypto transactions may find these platforms somewhat restrictive due to their lack of cryptocurrency deposit options.

IC Markets vs XM: deposit and withdrawal methods
Deposit and withdrawal methods	IC Markets	XM
Bank wire	Yes	Yes
Bank card	Yes	Yes
Neteller	Yes	Yes
BTC	No	No
Wise	No	No
Payoneer	No	No
USDT	No	No

IC Markets vs XM: research

Both brokers provide a comprehensive set of tools to help traders make informed decisions. They offer access to news feeds, fundamental data, and chart analysis, ensuring traders stay updated on market trends and price movements.

Additionally, XM and IC Markets research types include trading ideas and email reports, giving traders insights into potential opportunities and market developments. These resources cater to traders of all experience levels, helping them refine their strategies. With strong research support, both brokers provide valuable data-driven tools to enhance the trading experience.

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

When looking at the education resources available from XM and IC Markets, both brokers provide various learning resources designed for traders of all skill levels. They offer structured programs that include demo accounts for practice trading, interactive webinars led by market professionals, in-depth educational articles, and video tutorials that explain trading strategies step by step. By combining these materials, the XM and IC Markets education approach helps traders at any stage improve their skills and gain confidence before transitioning to real-money trading.

A key difference between the two brokers is that XM, unlike IC Markets, offers a cent account, which lets traders practice with small amounts of real money before fully committing to live trading. This feature is particularly useful for those moving from demo trading to real-market conditions. For traders who are just getting started, the XM and IC Markets for beginners experience focuses on making the learning process simple and accessible. With structured guidance, risk-managed trading tools, and practical resources, both brokers guide traders as they build experience while managing their risks effectively.

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

Both IC Markets and XM support services operate 24/5, ensuring traders receive assistance during market hours. Support is available via email, and phone. Also IC Markets and XM have live chats, providing multiple communication options for quick responses.

While neither broker offers additional support channels beyond these, their existing services ensure timely and professional assistance for account issues, technical concerns, and trading inquiries. With reliable IC Markets and XM support, traders can expect efficient help whenever needed.

XM vs IC Markets: support
Support features	IC Markets	XM
Working Days	24/5	24/5
E-mail	Yes	Yes
Phone	Yes	Yes
Online chat	Yes	Yes
Other	No	No

IC Markets vs XM: Forex bonuses and promo

When evaluating what XM and IC Markets provide, one of the key aspects to consider is the type of promotions and benefits that each broker offers. While XM and IC Markets both cater to different trading needs, their incentives vary significantly. IC Markets, for instance, focuses more on tight spreads and advanced trading conditions, whereas XM, on the other hand, provides attractive bonuses, including a Forex reward of up to $5,000 and a deposit match bonus of up to 100%. This makes XM, compared to IC Markets, an option that offers additional incentives for traders looking to maximize their initial deposits.

For those interested in partnerships, IC Markets operates a commission-based affiliate system that rewards traders based on referrals, while XM, in contrast, offers a multi-tier affiliate program, allowing partners to earn from multiple levels of referred clients. When it comes to promotions, traders might also compare the IC Markets and XM bonus opportunities:

IC Markets does not offer trading bonuses.
XM bonus program includes welcome rewards and deposit incentives, that's why it stands out as a better choice for those looking for extra benefits when funding their accounts.

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

Conclusion

IC Markets and XM both offer competitive trading conditions but cater to different needs. IC Markets has lower spreads and ECN trading, making it ideal for scalpers and high-volume traders, while XM provides commission-free standard accounts and attractive Forex bonuses. Both brokers support MT4 and MT5, but IC Markets also offers cTrader for more flexibility. Deposit and withdrawal options are similar, though neither supports crypto payments.

Both brokers are ASIC and FSA Seychelles regulated with investor protection up to €20,000, though they lack oversight from FCA UK or CFTC US. IC Markets offers more trading instruments, including bonds and futures, while XM focuses on a variety of CFDs and Forex pairs. Customer support is available 24/5 for both, and the choice between them depends on whether you prefer lower spreads and ECN trading or bonuses and educational tools.

FAQs

What should I start Forex trading with?

Novice traders should 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, and 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/ECN 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

Alamin Morshed is a contributor at Traders Union. He specializes in writing articles for businesses that want to improve their Google search rankings to compete with their competition. With expertise in search engine optimization (SEO) and content marketing, he ensures his work is both informative and impactful.

Learn about our editorial policies

Chinmay Soni is a financial analyst with more than 5 years of experience in working with stocks, Forex, derivatives, and other assets. As a founder of a boutique research firm and an active researcher, he covers various industries and fields, providing insights backed by statistical data. He is also an educator in the field of finance and technology.

As an author for Traders Union, he contributes his deep analytical insights on various topics, taking into account various aspects.

Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).