IC Markets vs XM, Who's Better?
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IC Markets Rating
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XM Rating
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Losses can exceed deposits |
77.29% of retail investor accounts lose money when trading CFDs with this provider. |
IC Markets vs XM Guide |
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Read our In-Depth IC Markets vs XM Review - Updated for 2023
This IC Markets vs XM review has been updated for 2023 by industry experts with years of financial experience in Forex, CFDs, & Social Trading.
Please note that due to regulations for each broker, the content in this IC Markets vs XM review does not apply to all countries as follows:
IC Markets Excluded Countries
United States of America, Canada, Israel, New Zealand, Japan, and Iran.
XM Excluded Countries
Canada, Israel, and United States of America.
Compare IC Markets vs XM
Every online trading system will have some pros and cons, and no IC Markets and XM review would be complete without showing both sides. Compare IC Markets and XM to understand how they line up against each other before you create an account. A comparative analysis can put things into perspective so that you are aware of what to expect.
So you are looking for a broker and are choosing between IC Markets or XM. Who is better in 2023?
This IC Markets vs XM comparison contains the most recent information so you can easily compare XM against IC Markets.
If you are a new entrant in the realm of trading and brokers, so many details will be perplexing for you. Getting into the world of trading requires expert analyzing skills and thorough knowledge. You'll get proficient at all of the concepts of broker as you continue trading. For starters, you need to choose the right broker who'll be transparent with you constantly.
In this fast-paced universe of stock markets and trading, you will need advice to make proper decisions. A professionally lead investment plan has the potential to generate hefty returns. IC Markets and XM are just two such stages which will take you and your investment into great heights. It's crucial that you compare IC Markets vs XM before you trust them with your cash.
Our IC Markets vs XM comparison will help you judge the effectiveness, price, ease of use and customer support, and whether you can trust IC Markets and XM side by side.
Our entire IC Markets vs XM Review covers all you will need to learn about trading with either IC Markets or XM. A fantastic broker can multiply your initial investments and give you favorable profits. If you would like to earn profits, you must trade with a broker service that contrasts with your investment goals.
There's absolutely no sure-fire way to ensure profits; thus, you must carefully analyze your broker before you select them. It is a common misconception that all agents are the same, but that's not true. Wrong judgment, initially, can set your investments at risk.
IC Markets and XM are both brokers which have paved their way successfully into the brokerage world. Within this review, we've attempted to collate a number of the vital aspects of both IC Markets and XM. This review will allow you to know whether either XM or IC Markets is a fantastic fit for your investments or not. We have tried to breakdown all of the qualities and fees for your advantage.
Benefits of IC Markets and XM Compared
IC Markets has a minimum deposit of $200 while XM has a $5 minimum deposit.
Why smaller minimum deposits are good and how IC Markets and XM compare
The main reason is that you should only deposit what you can afford. If you you have a lower budget, the broker that offers the lowest deposit option will be more attractive. The other reason is because when speculating on riskier but potentially more rewarding financial instruments you should look to speculate with only a small percentage of your allocated trading funds. Don't let a higher minimum deposit totally put you off a broker, look at the overall trading features you are getting from the trading platform. Often a high minimum deposit gives greater choice in the financial assets and trading platform research features.
IC Markets allows you to trade around 232 financial instruments whilst XM has around 232 financial instruments available.
The more financial instruments you can trade on the IC Markets and XM platforms the better. It is good to have a diverse portfolio and the options available to a user will always vary. Trading is all about grasping potential opportunities and you seriously do not want to miss out on a trading opportunity due to the limitations of IC Markets or XM.
IC Markets and XM Contact Details
Being able to contact a broker through many ways is a sign of a professional broker. IC Markets and XM have the following contact details and social medias that you can use.
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| Broker | IC Markets | XM |
| Telephone Number | +248 467 19 76 | +357 250 29933 |
| support@icmarkets.com | support@xm.com | |
| Address | Level 4, 50 Carrington Street, Sydney NSW 2000 | 12 Richard & Verengaria Street, Araouzos Castle Court, 3rd Floor, 3042 Limassol, Cyprus |
| IC Markets Twitter Account | XM Twitter Account | |
| IC Markets Facebook Page | XM Facebook Page | |
| IC Markets Instagram Account | XM Instagram Account | |
| IC Markets LinkedIn Page | XM LinkedIn Page | |
| YouTube | IC Markets YouTube Channel | XM YouTube Channel |
| Find Out More |
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XM and IC Markets Mobile App Comparison
It is becoming increasingly important for brokers to offer simple-to-use apps that provide the same services as desktop platforms.
This part of comparing IC Markets and XM will examine whether their mobile app meets all our requirements.
Overall, we rate the user-friendliness of the apps as Better than the average.
It is crucial that trading apps have user-friendly capabilities, especially for those who use it with their smartphones.
Search Functions
While most brokers are good at this, there are some poor ones. If you type 'Emerging markets' into the search box, the software will find all Emerging market ETFs, even if the name doesn't begin with 'emerging'. If you only ever traded US stocks and start typing 'Apple', will the AI show you the Apple stock or the obscure Irish stock Applegreen?
IC Markets vs XM - Awards
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| Broker | IC Markets | XM |
| Awards |
IC Markets have won several industry awards over the years they have been operating as a financial broker. We list the most recognised awards for IC Markets here.
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XM have won several industry awards over the years they have been operating as an online trading platform. We show the most notable awards for XM below.
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IC Markets vs XM - Frequently Asked Questions
IC Markets vs XM - Headquarters And Year Of Founding
IC Markets was founded in 2007 and has its head office in Australia.
XM was founded in 2009 and has its head office in Cyprus.
What is the minimum deposit for XM or IC Markets
The minimum deposit for IC Markets is $200.
The minimum deposit for XM is $5.
Depending on your needs, a lower minimum deposit can be beneficial. If you are experienced with forex trading but are looking for a change then both IC Markets and XM are a good option.
IC Markets vs XM - Regulation And Licencing In More Detail
IC Markets is regulated by Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC).
XM is regulated by International Financial Services Commission(IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investment Commission (ASIC).
Both IC Markets and XM have a strong set of rules for ensuring fair trading on their platforms. For data encryption purposes, they supply industry-standard secure socket layers (SSL).
In accordance with their individual privacy regulations, client information is to not be shared with any other institutions or individuals. Including credit history and other financial details.
Compare IC Markets vs XM Commission And Fees
IC Markets and XM are online brokerage platforms, and most online brokerages charge lower prices than traditional brokerages tend to charge. The cause of this is that the businesses of online trading platforms are scaled much better. In other words, an online broker isn't necessarily affected by the amount of clients they have.
However, this does not necessarily mean that online brokers don't charge any fees. They charge prices of varying rates for a variety of services to make money. There are primarily three different types of fees for this purpose.
The first sort of fees to keep an eye out for are trading charges. When you make a genuine trade, like purchasing a stock or an ETF, you're charged trading fees. In these cases, you're spending a spread, funding rate, or a commission. The sorts of trading charges and the prices vary from broker to broker.
Commissions can be fixed or determined by the traded quantity. On the other hand, a spread denotes the difference between the buying and selling cost. Financing or overnight prices are those that are billed when you maintain a leveraged position for more than daily.
Aside from trading fees, online brokers also charge non-trading fees. These are dependent on the activities you undertake on your accounts. They're charged for surgeries like depositing money, not investing for lengthy periods, or withdrawals.
In general, neither IC Markets or XM charge high fees in comparison to other online brokers. For operations other brokers charge for, they either do not charge a brokerage fee, or they charge a lesser amount. This is beneficial for people who regularly exchange, for example weekly or daily trading.
However, non-trading fees billed by IC Markets and XM are relatively greater. Consequently, you're charged more for non-trading activities on your trading account, such as withdrawal and deposits. These are not related to the purchase and sale of resources.
This IC Markets vs XM review for 2023 breaks down each of the applicable non-trading charges for you in detail.
Compare Broker Fees For IC Markets And XM
What Languages Do IC Markets And XM Support?
Being able to talk completely with your online platform is a key part of comparing trading platforms to find your perfect broker. Not only for support but to ensure you understand everything on their site and inside their application as it is a key factor to success when trading online.
Here you will find the languages that both IC Markets and XM offer communication in.
How Many Clients Do IC Markets and XM Have?
Both IC Markets and XM are well established with their customer base. It is important to work with an online broker that is professional and one of the easiest ways of establishing this is by knowing how many clients they already work with.
Below you will find details of how many users IC Markets and XM are active on their platform
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| Broker | IC Markets | XM |
| Clients / Users | 60,000+ | 3,500,000+ |
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What Payment Methods Do IC Markets and XM Accept?
IC Markets and XM both offer a wide range of payment options which is vital when you have a global customer base.
Below you will find details of all the payment options available at IC Markets and XM
What Can You Trade With IC Markets and XM?
IC Markets offers 232 trading instruments whilst XM offers 100.
Below you will find a full breakdown of what both IC Markets and XM offer.
Compare IC Markets To All Other Brokers
Compare XM To All Other Brokers