IC Markets vs. XM Broker Comparison

IC Markets vs. XM Broker Comparison

IC Markets versus XM Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$200MT4, MT5, cTrader230+ASIC, CySEC, FSA
$5MT4, MT51000+ASIC, CySEC, IFSC

IC Markets and XM Comparison

IC Markets classifies itself as an ECN broker, offering high speed order execution, using Equinix data centers and providing 3 platforms suited to both automated trading and discretionary trading.

Like IC Markets, XM offers MT4 and MT5. XM has accounts which do not charge commissions, and one account which does (the XM Zero account available at XM CySEC regulated).

XM does provide more markets than IC Markets (1000+ vs 230+), both of which offer their maximum number of markets on MT5. For its Standard and Micro accounts XM has a very low minimum deposit. XM can offer very low minimum trade sizes on its Micro accounts.

Both brokers are regulated by the ASIC in Australia and the CySEC in Cyprus. IC Markets is also regulated by the FSA in the Seychelles. XM the IFSC in Belize.

Quick comparison

IC Markets is an ECN broker, offering MT4, MT5 and cTrader. XM has a range of account types, including a cent account, on MT4 and MT5 and can offer more markets on MT5.

Minimum deposit and account types

The minimum deposit for IC Markets $200 and the minimum deposit for XM is $5. Both brokers offer Islamic (Swap-Free) accounts.

  • IC Markets offers the Standard, Raw Spread, Islamic (Swap Free) and cTrader Raw accounts. IC Markets provides market analysis, Web TV (market commentary and trade ideas in a video), educational articles and video tutorials and an economic calendar on its website. IC Markets provides ZuluTrade and Myfxbook for social and copy trading. IC Markets uses Equinix NY4 and London LD5 Servers to deliver low latency trading conditions and has micro (0.01) lot trading.
  • IC Markets's Standard account does not charge a commission, but the Raw Spread and cTrader Raw accounts charge a commission. Scalping, hedging and automated trading are allowed.
  • XM ASIC regulated offers the XM Ultra Low account instead of the XM Zero account. XM IFSC regulated offers the Micro, Standard and Ultra Low accounts and a Shares account (with real Shares to own). The minimum deposit for the Ultra Low account is $50. The minimum deposit for the Shares account is $10,000.
  • XM offers an economic calendar, a personal account manager, video tutorials, daily technical analysis, Forex market research and daily Forex signals, trading tools, market outlook and webinars. XM allows EAs, hedging and scalping.

Markets

  • IC Markets offers 230+, covering Forex pairs, Energy, Indices, Soft Commodities, Metals, Futures, Cryptocurrencies, Stocks, ETFs and Bonds.
  • XM offers 1000+, covering Forex pairs, Energy, Indices, Soft Commodities, Metals, Futures and Cryptocurrencies on MT5 and 100+ on MT4, since it does not include Stock and Cryptocurrency CFDs. The XM Zero account offers Forex pairs, Gold and Silver, with 55+ markets available.

Cryptocurrency CFDs

  • IC Markets provides Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, Dash, Emercoin, Namecoin, Peercoin and EOS.
  • XM provides Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Ripple.

Spreads and leverage

  • Spreads at IC Markets are variable and are from 0.0 for EUR/USD, 0.0 for Gold, 1 for UK100 and 0.04 for US Crude Oil. For the Standard account EUR/USD spreads are from 1.
  • Spreads at XM are variable. For the Standard and Micro accounts spreads are from 1 for EUR/USD, 1.5 for UK 100, 0.4 for Gold and 0.05 for US Crude Oil. The Ultra Low account has EUR/USD spreads from 0.6.
  • For the XM Zero accounts, spreads have a low of 0 for EUR/USD. On the XM Zero account Gold has an average spread of 0.21.

Maximum leverage for IC Markets (CySEC regulated) is . Maximum leverage for IC Markets (ASIC or FSA regulated) is 500:1. Maximum leverage for XM (CySEC regulated) is . Maximum leverage for XM (ASIC regulated) is 500:1.

Commissions

  • IC Markets charges a commission of $3.50 per lot per side for the True ECN account and the cTrader account charges a commission of $3 per 100,000 USD traded per side. Commissions are charged only for Forex and Metals.
  • XM charges a commission of $3.50 per lot per side on the XM Zero account. Commissions are charged only on the XM Zero account and therefore only for Forex and Metals.

Platforms

IC Markets provides MT4, MT5 and cTrader which are available on desktop, mobile and tablet.

XM provides the MT4 and MT5 trading platforms which are available on desktop, mobile and tablet.

Both brokers offer micro lot trading (0.01 lots), however on its Micro (cent) account, XM provides trade sizes down to 0.0001 lots.

Why IC Markets or XM ?

Traders who want to trade on MT4 and MT5 can do so at either broker. Each allows the trader to use online trading robots. Traders who wish to trade on cTrader, a user friendly platform with automated trading features, may do so at IC Markets. XM offer more markets to trade on MT5, though both offer Stocks CFDs on this platform, and IC Markets has a relatively large number of markets for an ECN broker. XM offers a Micro (cent) account, which has low minimum trade sizes.

Comparison summary

  • Both brokers offer MT4 and MT5
  • IC Markets additionally provides cTrader
  • XM has more markets to trade on MT5
  • IC Markets is an ECN broker
  • At CySEC regulated XM, this broker offers the XM Zero account, which can have low spreads plus a commission charge
  • XM provides a Micro (cent) account, which has low minimum trade sizes
  • Both brokers allow scalping, hedging and online trading robots
  • XM has a lower minimum deposit

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