IC Markets vs XM Comparison – 2025

Top Reasons to Choose IC Markets or XM

Based on our thorough testing and assessment, IC Markets caters to intermediate and advanced short-term and algorithmic traders looking for low spreads and ultra-fast execution. XM caters to beginner traders with low minimum deposits and live educational webinars, as well as to intermediate traders, thanks to its comprehensive in-house market research materials.

IC Markets: Snapshot

Founded in 2007 and headquartered in Sydney, Australia, IC Markets is a licensed broker regulated by three financial authorities, including two Tier-1 regulators. The broker offers access to over 2,200 tradable instruments across MT4, MT5, cTrader, and TradingView platforms, along with ECN trading accounts supported by NY4 data servers.

IC Markets: Who is it For?

With a zero requote policy, no minimum order distance restriction, and average trade execution under 40 milliseconds, IC Markets is particularly suited for short-term traders and those employing algorithmic strategies.

What Makes IC Markets Stand Out?

IC Markets sets itself apart with its zero requote policy and no minimum order distance restrictions, enabling market orders to be executed very close to the market price. Furthermore, it offers competitive trading fees and a wider range of trading platforms and instruments than the industry average.

XM: Snapshot

Established in 2009, the XM Group operates across four global entities, including two licensed by Tier-1 regulators. It offers access to over 1,380 financial CFD instruments through the MT4 and MT5 platforms. The broker also delivers professional market research from its in-house team.

XM: Who is it For?

XM primarily targets beginner traders interested in commission-free accounts with low minimum deposits and live educational webinars. XM also offers specialized reports tailored to intermediate and advanced fundamental traders.

What Makes XM Stand Out?

XM stands out by providing live educational sessions that cover the latest financial news, expert opinions, market outlooks, and interactive question-and-answer segments. These daily sessions offer valuable learning opportunities for traders of all experience levels.

Trust

IC Markets vs XM Trust and Regulation Comparison

Established in 2007, IC Markets operates under two entities licensed by Tier-1 regulators: CySEC (Cyprus) and ASIC (Australia), ensuring a high level of fund security and transparent trading conditions. Another entity is licensed by the Tier-3 regulator FSA (Seychelles), but it provides additional insurance coverage of up to $1 million through Lloyds of London. The broker has implemented a ‘best execution policy,’ requiring it to take all necessary steps to offer clients the most favorable price quotes under prevailing market conditions.

Founded in 2009, XM operates through four global entities. Two are regulated by Tier-1 authorities: CySEC (Cyprus) and ASIC (Australia). The third is licensed by the Tier-2 regulator DFSA (Dubai), and the fourth by the Tier-3 regulator IFSC (Belize). The Tier-1 regulated entities ensure the highest level of client fund safety and transparent trading conditions. XM has also adopted a ‘best execution policy,’ and enforces a strict Client Categorization policy to tailor its services to traders according to their experience levels.

If you want to learn more about brokers’ regulations, be sure to check out our article on the top regulated forex brokers.

Fees

IC Markets vs XM Spreads, Fees and Commissions Comparison

We found the spreads in both the Standard and ECN accounts at IC Markets to be highly competitive. For instance, in our analysis of the broker’s commission-free Standard CFD Account, the average spread for EUR/USD was 0.8 pips during the London and New York sessions, outperforming the industry average of 1.08 pips. Additionally, IC Markets does not charge deposit, withdrawal, account maintenance, or inactivity fees.

Using the XM‘s commission-free Standard CFD Account, we observed that the spread for EUR/USD averaged 1.2 pips during the London session and 1.4 pips during the New York session, both exceeding the industry average of 1.08 pips. Overall, XM’s spreads for the instruments we tested were mostly in line with the industry average. However, more competitive pricing is available through its raw-spread Zero Accounts. Deposits and withdrawals with XM are free, but the broker applies a $10 monthly inactivity fee.

Platforms and Tools

IC Markets vs XM Trading Platforms Comparison

IC Markets offers MT4, MT5, and cTrader platforms, available on desktop, web, and mobile devices. The desktop platforms are tailored for high-frequency, short-term, and advanced traders, offering features like one-click trading and depth of market. For beginners, the mobile apps are easy to use but offer limited charting capabilities. Beginners may also benefit from the TradingView platform, which features advanced charting tools, an intuitive interface, and access to a 50 million-strong social trading community.

XM supports the MT4 and MT5 platforms across desktop, web, and mobile devices, catering primarily to advanced traders with features such as one-click and algorithmic trading. Beginner traders may find the web platform the most user-friendly for trading. Additionally, XM offers the MT4 Multiterminal for account managers and provides VPS hosting to enhance performance.

Tradable Instruments

IC Markets vs XM Instruments Selection Comparison

IC Markets offers a broad range of over 2,200 financial CFD instruments, including forex, commodities, indices, cryptos, and stocks. This diverse selection is suitable for all types of traders, but especially share CFD traders, with thousands of stocks from major regions such as the U.S., Australia, Amsterdam, Spain, France, Germany, and the UK.

XM provides over 1,380 financial CFD instruments, covering forex, commodities, indices, and stocks, which can be traded as spot instruments, CFDs, or futures contracts.  This diverse range caters to a variety of trading styles and preferences. However, the broker does not provide cryptocurrencies and ETFs.

Customer Support

IC Markets vs XM Customer Support Comparison

IC Markets provides 24/7 customer support via email and live chat. Email inquiries were answered within one day, while live chat responses were typically received within two minutes. While these channels offered helpful assistance we found the general support phone number was not operational.

XM offers 24/5 customer support in Australia and from 07:00 to 16:00 GMT in Europe. Support channels include live chat, phone, and email. Throughout our interactions with XM’s customer support, we consistently received professional and timely responses from each agent.

Research

IC Markets vs XM Research Tools Comparison

The IC Markets Information Hub features regularly updated market news and analysis from a dedicated in-house team, suitable for all trading skill levels. The broker also offers content from Autochartist and Trading Central, including Analyst Views, Featured Ideas, and Technical Insights, which are geared towards intermediate and advanced traders.

XM offers comprehensive and high-quality market research tools developed by its in-house team. This includes market analysis, videos, trading ideas, podcasts, and breaking news. The news feed is powered by Reuters and Dow Jones. The in-house content caters to traders of all experience levels and covers technical analysis, forex previews, live webinars, and regularly published special reports.

Deposits & Withdrawals

IC Markets vs XM Deposit and Withdrawal Methods Comparison

IC Markets provides 15 fee-free deposit and withdrawal options, with instant processing times. These include debit/credit cards, PayPal, Neteller, Skrill, and other e-payment methods. However, bank wire transfers have the longest processing time, typically taking 2 to 5 working days, while international wires may take up to 14 working days to process.

XM provides fee-free deposit and withdrawal options, including bank wire transfers (for amounts over $200), Visa, Mastercard, Neteller, Skrill, and China Union Pay. Most deposits are instant, but wire transfers may take 2 to 5 business days. Withdrawals usually take 2 to 5 business days, with Neteller and Skrill processed within 24 hours.

Account Types and Terms

IC Markets vs XM Account Types Comparison

IC Markets provides three accounts tailored to the needs of different traders. The Standard MetaTrader Account offers zero-commission trading, making it ideal for novice traders. The Raw Spread MetaTrader and Raw Spread cTrader accounts feature narrower spreads and charge a commission per trade, making it ideal for advanced short-term traders. The Raw Spread cTrader commission is $3.00 per lot, which is better than the industry average of $3.50.

XM provides three account options catering to different trading preferences: Standard, Micro, and Zero. All three have a low minimum deposit requirement of only $5, making them highly accessible. In terms of fee competitiveness, I found that the Zero account offers the most favorable pricing. It features raw spreads starting from 0.0 pips and a $7 round-turn commission per traded lot, which is marginally below the industry average.

Education

IC Markets vs XM Educational Content Comparison

IC Markets provides extensive educational resources such as articles, tutorial videos, and live webinars covering a wide range of trading topics suitable for traders at all levels. The platform tutorials and regular live trading webinars are particularly beneficial for beginner traders.

XM offers a live education section with daily webinars conducted in 19 languages, catering to both beginner and advanced traders. The schedule includes topics like scalping, buying and selling techniques, and live trading sessions during the European open and U.S. pre-market hours. General trading courses and MT4 tutorials are also available, featuring materials suitable for traders of all experience levels.

Our Methodology

Since 2011, FX Empire has developed a detailed methodology for evaluating CFD brokers, involving over 250 variables across nine crucial categories. Our team of experts, with deep industry knowledge, conducts live testing and research by interacting with the brokers directly. We check regulations, open accounts, test spreads, account costs, platform functionality, instrument variety, customer support reliability, and the quality of research and educational content. This granular analysis helps us identify each broker’s strengths and weaknesses, keeping our comparisons current with market trends and ensuring our guides meet traders’ needs.

We strive to evaluate each broker objectively, considering how their offerings align with the diverse trading goals and preferences of our readers. Our focus is on providing a balanced overview of each broker’s strengths and weaknesses. This method ensures that our readers receive clear, insightful comparisons to aid in making well-informed trading decisions.

We employ a comprehensive rating system across nine key categories:

• Trust
• Fees
• Platforms and Tools
• Tradable Instruments
• Customer Support
• Research
• Deposits and Withdrawals
• Account Types and Terms
• Education

In each category, we conduct an in-depth analysis for both brokers, outlining features, advantages, and disadvantages and determining their suitability for different trader profiles. By blending insights from our extensive reviews with first-hand experiences and observations, we ensure each comparison is balanced, informative, and tailored to the trader’s unique needs. You can read more about our review process here.

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