XM vs IC Markets
Unsure whether XM or IC Markets is the better match for your trading goals? This is a broker comparison between XM and IC Markets, covering their regulatory protections, pricing and fees, platforms, instruments, deposit and withdrawal methods, and other essential factors side by side.
Who is XM?
XM, launched in 2009, is an international forex and CFD broker known for its competitive trading conditions, diverse account options, and strong focus on trader education. It supports clients of all experience levels and provides access to a broad selection of markets through several trading platforms. The official website of XM is www.xm.com.
The minimum deposit required to start trading with XM is $5.
Who is IC Markets?
IC Markets, founded in 2007, is a widely recognised forex and CFD broker known for its low spreads, fast execution speeds, and institutional-grade trading environment. The broker caters to both retail and professional traders, offering deep liquidity and advanced platforms suited for all kinds of traders. The official website of IC Markets is www.icmarkets.com.
The minimum deposit required to start trading with IC Markets is $200.
XM vs IC Markets Side-by-Side Comparison
XM, established in 2009, is regulated by the CySEC (Cyprus), FSC (Belize), FSA (Seychelles), DFSA (UAE) and FSC (Mauritius) and keeps local offices in Limassol, Athens, Dubai and Cape Town. The broker supports trading through multiple platforms, which include MT4, MT5 and XM App.
The minimum deposit to open an account with XM stands at $5, with account base currency options including USD, EUR, JPY, GBP, AUD, CHF, ZAR, HUF, SGD and PLN. Further, XM operates as a B-Book (market maker) broker and supports copy trading with XM Copy Trading. Clients can deposit and withdraw funds through credit and debit cards, international wire transfers, local transfers and e-wallets (Skrill, Neteller, etc.).
In comparison, IC Markets, founded in 2007, holds licenses from the ASIC (Australia), CySEC (Cyprus), FSA (Seychelles), CMA (Kenya) and SCB (Bahamas) and maintains offices in Limassol, Sydney, Mahe, Nairobi and Nassau. The broker offers various trading platforms, including MT4, MT5, cTrader and TradingView.
IC Markets requires a minimum deposit of $200 to open an account. Traders can choose from multiple base currencies, including USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD and CAD. IC Markets operates an A-Book broker and offers copy trading via cTrader Copy, ZuluTrade and Signal Start. Finally, the broker accepts funding via credit and debit cards, bank wire transfers and e-wallets (Skrill, Neteller, PayPal).
XM vs IC Markets Market Instruments
XM offers 1,400+ CFD instruments across various global markets, with CFDs on forex, stocks, equity indices, themathic indices, commodities and cryptocurrencies. The roster of products features 40+ forex pairs, 1,000+ stocks, 20+ indices, 30+ commodities, and 10+ crypto pairs (cryptos are available outside the EEA).
IC Markets, in comparison, gives access to 2,250+ instruments, which include CFDs on forex, stocks, indices, commodities, etfs, bonds, futures and cryptocurrencies. This instrument list comprises of 61 forex pairs, 2,100+ stocks, 25 indices, 28+ commodities, and 13 crypto pairs.
XM vs IC Markets Account Types
XM vs IC Markets Spreads Comparison
The following comparison presents the minimum and average spread data for XM and IC Markets. Actual trading costs can change with account type, liquidity, and volatility, so it is wise to verify current figures on each broker’s website before placing trades.
Minimum spreads: EUR/USD is quoted from 0.8 pips at IC Markets versus 1.6 pips at XM. For GBP/USD the minimum is 0.8 pips vs 1.8 pips, USD/CAD is 0.8 pips vs 2.3 pips, and CAD/JPY is 1.0 pips vs 3.4 pips.
Beyond forex, XAU/USD (Gold) starts from $0.1 at IC Markets compared with $0.3 at XM, WTI Crude Oil from $0.01 vs $0.03, and Bitcoin from $1.85 vs $60.
Average spreads: IC Markets shows 0.82 pips on EUR/USD against XM at 2.0 pips, while GBP/USD averages are 1.03 pips vs 2.4 pips. XM also publishes an average for XAU/USD (Gold) at $0.45. IC Markets does not provide data about the average spreads for this asset.
XM vs IC Markets Minimum Spreads Comparison
XM vs IC Markets Average Spreads Comparison
Costs on Raw/Zero Spread Account
XM and IC Markets both provide raw/zero spread accounts. On these accounts, XM quotes a minimum spread of 0.0 pips plus a commission of $3.5 per side per lot (available in the EEA). In contrast, IC Markets offers spreads from 0.0 pips and a commission of $3.5 per side per lot.
With spreads pushed toward zero, most of the cost comes from commissions. Because pricing can shift with liquidity and volatility, check each broker’s website for the most current details before you trade.
Other Features
XM vs IC Markets: Wrapping Up the Comparison
XM and IC Markets are established global brokers, founded in 2009 and 2007, respectively. XM is regulated by the CySEC (Cyprus), FSC (Belize), FSA (Seychelles), DFSA (UAE) and FSC (Mauritius), while IC Markets is regulated by the ASIC (Australia), CySEC (Cyprus), FSA (Seychelles), CMA (Kenya) and SCB (Bahamas).
XM and IC Markets both offer several trading platforms, with MT4, MT5 and XM App at XM and MT4, MT5, cTrader and TradingView at IC Markets. XM accepts a lower minimum deposit of $5, while IC Markets requires $200 to open an account.
Regarding spreads, EUR/USD is available at XM with minimum spreads from 1.6 pips, versus 0.8 pips at IC Markets. The average spreads for the same pair (EURUSD) are 2.0 pips at XM and 0.82 pips at IC Markets. Both brokers provide a Standard account, a demo account, and an Islamic (swap-free) option. The brokers also provide zero/raw spread accounts with identical starting spreads and commission.
Further, XM supports copy trading via XM Copy Trading (outside the EEA), and IC Markets offers copy trading through cTrader Copy, ZuluTrade, and Signal Start. XM features Ultra Low and Shares among its other account types, while IC Markets offers Starter, Raw Pro and Raw Pro +. In terms of market products, XM provides 1,400+ instruments and IC Markets offers 2,250+.
In summary, XM is ideal for traders prioritizing accessibility and education, with an ultra-low entry point, extensive learning resources including daily webinars, and 24/7 multilingual support. IC Markets, meanwhile, targets cost-conscious traders who demand very competitive spreads and a broader selection of tradable instruments.
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