General Breakdown. This graph highlights the key scores from each Macro, uniquely calculated by us.
- IC Markets
Tier 1 Regulation
Tier 2 Regulation
Tier 3 Regulation
Deposit and Withdrawal
Costs and Fees
Forex Fixed Spreads
Forex Variable Spreads
Fees on Stocks
Fees on Indices
Fees on Cryptocurrencies
Special Trading Conditions
Available Trading Techniques
IC Markets vs XM: A Comparison Summary
When comparing IC Markets and XM, two popular online brokers, there are several key factors to consider, including security, demo accounts, account opening, social-copy trading, markets offered, trading fees, platforms, and education/customer care. Below is a comparison summary of IC Markets vs XM.
IC Markets is regulated by several reputable financial authorities, including CySEC, ASIC, FSA, and SCB, giving it a security rating of 93. XM is also regulated by CySEC, ASIC, DFSA, and FSC, with a slightly higher security rating of 94.
Both brokers offer unlimited demo accounts with virtual funds. IC Markets allows traders to choose the amount of virtual funds (up to $5 million) and restore them by contacting customer support, while XM offers $100,000 in virtual funds that can be restored by contacting customer support.
IC Markets has no minimum deposit requirement, but suggests a minimum deposit of $200. It offers over 10 base currencies, multiple payment methods, and three account types (Standard, RAW Spread, and Professional). XM has a low minimum deposit of $5, offers two base currencies, and six account types (Standard, Micro, Zero, Ultra Low, Shares, and Islamic).
IC Markets offers third-party platforms like ZuluTrade for copy-social trading, while XM does not offer social trading.
IC Markets offers a wider range of markets, including 63 forex pairs, 21 commodities, 25 indices, 63 crypto assets, and 1600+ stocks. XM offers 57 forex pairs, 15 commodities, 30 indices, and 150+ stocks, but does not offer any crypto assets or futures and options.
Both brokers offer variable spreads and charge commissions per lot traded, up to $7. IC Markets has lower spreads, starting from 0 pips on forex, and charges variable spreads on stocks. XM has lower spreads on forex as well, but they may be higher depending on the account type chosen.
Both brokers offer MetaTrader 4 and 5, which are available on desktop, webtrader, and mobile, as well as cTrader. IC Markets offers VPS services, while XM allows traders to use VPS services.
Both brokers offer a wide range of educational material, including webinars, podcasts, and trading lessons. XM has more educational resources available, including webinars in 19 languages 7 days a week and platform lessons. Both brokers have easy-to-contact customer support via email, phone, and live chat, with over 18 languages available for IC Markets and over 21 languages available for XM.
IC Markets and XM are both reliable brokers with reputable regulatory bodies and unlimited demo accounts. IC Markets offers a wider range of markets and lower spreads, making it more suitable for short-term investing and scalping. Meanwhile, XM offers a lower minimum deposit, more account types, and more educational resources, making it more suitable for beginner traders. Ultimately, the choice between IC Markets vs XM will depend on the individual trader’s needs and preferences.