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XM vs IC Markets
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Updated:
Compare XM vs IC Markets Side by Side
Selecting between XM vs IC Markets and would like to see who is a better Broker for your trading strategy? We made a detailed comparison between XM Review and IC Markets Review, comparing safety and licenses, trading conditions with fees, trading platforms, instruments, deposit & withdrawal conditions, and all the essential details side by side.
Summary
| Feature | XM | IC Markets |
|---|---|---|
| Website | //xm.com | //www.icmarkets.com |
| Founded year | 2009 | 2007 |
| Headquarter | Cyprus, Australia, Belize | Australia |
| Licenses | Cyprus, Australia, Belize, UAE | Australia, Cyprus, Seychelles |
| Minimum Deposit | 5 US$ | 200 US$ |
| Trading Platforms | MT4, MT5, XM WebTrader | cTrader, MT4, MT5 |
| Eurusd avg Spread | 1.6 pips | 1 pip |
Licenses
| Feature | XM | IC Markets |
|---|---|---|
| Licenses Countries Info (short) |
|
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Both brokerage firms are headquartered in Australia and are long-standing organizations. They are subject to stringent regulatory oversight from financial institutions in both Australia and the European Union, ensuring compliance with MiFID principles. Furthermore, they have international entities to serve traders on a global scale.
Broker Types
| Feature | XM | IC Markets |
|---|---|---|
| Broker types |
|
|
XM positions itself as a hybrid brokerage firm applying ECN/STP execution models to prioritize efficiency and transparency in trading. In contrast, IC Markets functions exclusively as a full-fledged ECN broker.
Trading Conditions
| Feature | XM | IC Markets |
|---|---|---|
| Trading Conditions |
|
|
XM vs IC Markets trading conditions offer similar attributes, making them suitable for beginners and providing access to a variety of trading strategies with low spreads and commissions. Simultaneously, they offer high leverage, enabling traders to gain more exposure with a minimal initial deposit. Additionally, both brokers provide access to various trading tools, including Expert Advisors (EAs) and robots, enhancing the trading experience and accommodating the diverse requirements of traders.
Fees & Commissions
| Fees & Commissions | XM | IC Markets |
|---|---|---|
| Inactivity Feemonth | 15 $ | 0 $ |
| Deposit fee | 0 $ | 0 $ |
| Withdrawal fee | 0 $ | 0 $ |
| Rollover fee eurusd buy 1 lot | -0.083 | -0.62 |
| Rollover fee eurusd sell 1 lot | -0.543 | 0.41 |
| Avg Eurusd standard acc | 1.6 pips | 1 pips |
| Gold | 35 | 1 |
| Brent oil | 5 pips | 5 pip |
| Bitcoin | 60 | 42.036 |
IC Markets offers more favorable fees, providing low spreads without commissions and without imposing non-trading charges like deposit, withdrawal, or inactivity fees. In contrast, XM generally maintains higher spreads and imposes a $15 inactivity fee, making IC Markets a more advantageous option in this regard.
Account Types
| Feature | XM | IC Markets |
|---|---|---|
| Account types |
|
|
XM and IC Markets provide a variety of trading account options tailored to accommodate diverse trading styles. These include Standard accounts and the option to trade micro lots, which are particularly suitable for novice traders seeking exposure without significant risk. Furthermore, the brokers offer Islamic accounts designed to cater to traders who adhere to Sharia Laws.
Markets & Instruments
| Markets & Instruments | XM | IC Markets |
|---|---|---|
| Forex | 55 | 60 |
| Indices | 28 | 23 |
| Commodities | 15 | 19 |
| Cryptocurrencies | 60 | 10 |
| Shares | 600 | 120+ |
| Bonds | ❌ | 9+ |
| Options | ❌ | ❌ |
| Binary options | ❌ | ❌ |
| Spread betting | ❌ | ❌ |
| Treasuries | ❌ | ❌ |
| Futures | ❌ | 4 |
| Etfs | ❌ | ❌ |
Both brokers have similar market offerings with a limited range of instruments, but IC Markets stands out by providing access to additional asset classes such as Futures and Bonds.
Trading Platforms
| Feature | XM | IC Markets |
|---|---|---|
| Platforms |
|
|
XM and IC Markets provide an identical array of trading platforms, including the industry-favored MT4 along with its more advanced counterpart, MT5. Simultaneously, they offer exclusive proprietary platforms tailored to fulfill the unique requirements of their traders.
Deposit & Withdrawal Methods
| Feature | XM | IC Markets |
|---|---|---|
| Payment methods |
|
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The range of deposit methods is also similar, allowing traders to fund their accounts using credit/debit cards, bank wire transfers, and various e-wallet options. However, IC Markets boasts a more extensive selection of e-wallets, providing a broader range of choices for its users.
Others
| Feature | XM | IC Markets |
|---|---|---|
| Others |
|
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Both brokers excel in customer support, providing round-the-clock assistance through email, live chat, and telephone. Notably, IC Markets stands out by offering 24/7 customer support availability. Regarding education, the brokers are renowned for delivering valuable educational resources tailored to traders of various proficiency levels, including webinars and video tutorials. Additionally, XM distinguishes itself by offering in-person seminars as part of its educational offerings.
Conclusion on IC Markets vs XM
Concluding our XM vs IC Markets comparison review, we can affirm that both brokers are reputable and possess robust regulatory compliance. They share similar trading conditions, account variety, and platform options, although their instrument range is somewhat limited. Notably, IC Markets sets itself apart by providing access to Bonds and Futures. In terms of user-friendliness, especially for beginners, IC Markets stands out due to its favorable fee structure, offering low spreads without any commissions. Here is our final recommendation:
- XM – 🥇Best Brokers for CFD Trading for bringing opportunity to trade using advanced technical solutions
- IC Markets – 🥇Best Raw Spread Broker suitable for beginners giving access to a good range of trading instruments with competitive trading conditions
