Verified 2026 data

IC Markets vs XM

An in-depth comparison to help you choose the right broker for your trading journey.

1:1Head to Head

RealTesting

2026Updated

CATEGORY WINS

Who Wins Each Category?

Our scores for IC Markets and XM, side by side, across the categories that decide your costs and safety.

FeesIC Markets: 4.9/5vsXM: 4.2/5IC Markets wins

SafetyIC Markets: 4.5/5vsXM: 4.5/5Even

PlatformsIC Markets: 4.7/5vsXM: 4.3/5IC Markets wins

EducationIC Markets: 3.5/5vsXM: 4.5/5XM wins

Customer SupportIC Markets: 4.2/5vsXM: 4.2/5Even

QUICK VERDICT

Who Wins?

IC Markets wins on overall score (4.6/5 vs 4/5). IC Markets is the pick if you value high-volume traders; choose XM if you value beginners with small budgets. The tables below show where each actually wins.

Who this is for: IC Markets suits traders who prioritise high-volume traders; XM suits traders who prioritise beginners with small budgets.

4.6/5

Best for: High-volume traders

Visit IC Markets Read the IC Markets Review

4/5

Best for: Beginners with small budgets

Visit XM Read the XM Review

HEAD-TO-HEAD

Side-by-Side Comparison

Feature

Overall Rating

4.6/5

4/5

Minimum Deposit

$200

Spreads From

0.0 pips

0.6 pips

Max Leverage

Up to 500:1

Up to 1000:1

Instruments

2,250+

1,000+

Fees Score

4.9/5

4.2/5

Platforms Score

4.7/5

4.3/5

Education Score

3.5/5

4.5/5

Safety Score

4.5/5

Platforms

MetaTrader 4, MetaTrader 5, cTrader, TradingView

MetaTrader 4, MetaTrader 5, XM WebTrader, XM Mobile App

Founded

2007

2009

Headquarters

Sydney, Australia

Limassol, Cyprus

KEY DIFFERENCES

What Actually Differs

The numbers that matter when choosing between IC Markets and XM.

Minimum depositIC Markets: $200XM: $5XM needs less to start.

RegulatorsIC Markets: 3 (ASIC, CySEC)...XM: 4 (FCA, ASIC)...XM is licensed in more jurisdictions.

InstrumentsIC Markets: 2,250+XM: 1,000+IC Markets offers more markets.

PlatformsIC Markets: MetaTrader 4, MetaTrader 5, cTraderXM: MetaTrader 4, MetaTrader 5, XM WebTraderBoth support MetaTrader 4, MetaTrader 5.

Best forIC Markets: High-volume tradersXM: Beginners with small budgetsDifferent fits. Read the verdict below.

ANALYSIS

Pros & Cons

Pros

+ Industry-leading raw spreads from 0.0 pips
+ True ECN execution with no dealing desk
+ $1 trillion+ monthly trading volume
+ Multiple platforms including TradingView
+ Excellent for high-frequency and algo trading
+ Deep institutional liquidity

Cons

- $200 minimum deposit
- Limited educational content
- No proprietary platform
- Basic research tools

Open IC Markets Account

Pros

+ Ultra-low $5 minimum deposit
+ Excellent educational resources
+ Multi-regulated (FCA, CySEC, ASIC)
+ No deposit or withdrawal fees
+ Excellent customer support (24/5)

Cons

- Higher spreads than ECN brokers
- Limited research tools
- Inactivity fee after 90 days

Open XM Account

RECOMMENDATION

Which Broker Should You Choose?

Choose

If you:

High-volume traders
Scalpers
Algorithmic traders
Professional traders

Visit IC Markets →

Choose

If you:

Beginners with small budgets
Traders seeking education
Global traders

Visit XM →

FAQ

IC Markets vs XM: FAQ

Which is better, IC Markets or XM?

Overall, IC Markets scores 4.6/5 and XM scores 4/5. The right pick depends on what you value: IC Markets for high-volume traders, XM for beginners with small budgets.

Which is cheaper, IC Markets or XM?

On our fees score, IC Markets is 4.9/5 and XM is 4.2/5. IC Markets advertises spreads from 0.0 pips, XM from 0.6 pips. Check the fee rows above for the full picture, because headline spreads are not the bill.

Which is safer, IC Markets or XM?

IC Markets holds 3 licence(s), including ASIC, CySEC, FSA. XM holds 4 licence(s), including FCA, ASIC, CySEC, IFSC. More Tier 1 regulators means more client protection schemes. Verify any licence at the regulator register before depositing.

Which has more markets, IC Markets or XM?

IC Markets offers 2,250+, XM offers 1,000+. Choose the range that covers what you actually trade.

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