IC Markets vs Xtrade, Who's Better?
|
|
|
IC Markets Rating
|
Xtrade Rating
|
|
Losses can exceed deposits |
Losses can exceed deposits |
IC Markets vs Xtrade Guide |
|
Read our In-Depth IC Markets vs Xtrade Review - Updated for 2023
This IC Markets vs Xtrade 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 Xtrade review does not apply to all countries as follows:
IC Markets Excluded Countries
United States of America, Canada, Israel, New Zealand, Japan, and Iran.
Xtrade Excluded Countries
Brazil, Republic of Korea, Iran, Iraq, Syrian Arab Republic, Japan, and United States of America.
Compare IC Markets vs Xtrade
Every online trading platform will have some pros and cons, and no IC Markets and Xtrade review would be complete without showing both sides. Compare IC Markets and Xtrade to understand how they stack up against each other before you make 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 professional broker and are choosing between IC Markets or Xtrade. Which one is best in 2023?
This IC Markets vs Xtrade comparison contains the latest information so you can easily compare Xtrade against IC Markets.
If you're a new entrant in the world of trading and brokers, so many details will be confusing for you. Getting into the world of trading demands expert assessing skills and thorough understanding. You will acquire proficient at all the concepts of broker since you continue trading. For starters, you need to choose the right agent who will be transparent with you always.
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 Xtrade are two such trading platforms which will take you and your investment to great heights. It is important that you compare IC Markets vs Xtrade until you trust them with your money.
Our IC Markets vs Xtrade comparison will help you judge the effectiveness, price, ease of use and customer support, and whether you can trust IC Markets and Xtrade side by side.
Our entire IC Markets vs Xtrade Review covers everything you need to know about trading with either IC Markets or Xtrade. A good agent can multiply your first investments and give you favorable profits. If you want to earn profits, you should trade with a brokerage service that contrasts with your investing objectives.
There is no sure-fire way to ensure profits; therefore, you should carefully assess your agent before you select them. It is a common misconception that all agents are the same, but that is not true. Wrong judgment, in the beginning, can set your investments in danger.
IC Markets and Xtrade are both brokers that have paved their way successfully into the brokerage world. In this review, we've attempted to collate some of the vital facets of both IC Markets and Xtrade. This review will allow you to know whether either Xtrade or IC Markets is a good match for your investments or not. We've tried to breakdown all the features and charges for your advantage.
Benefits of IC Markets and Xtrade Compared
IC Markets offers a minimum deposit of $200 while Xtrade has a $1 minimum deposit.
Why smaller minimum deposits are good and how IC Markets and Xtrade 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 has around 232 financial instruments while Xtrade has around 232 financial instruments available.
The more financial instruments you can trade on the IC Markets and Xtrade trading 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 should never want to miss out on a trading opportunity due to the limitations of IC Markets or Xtrade.
IC Markets and Xtrade Contact Details
Being able to contact your broker simply is vital. IC Markets and Xtrade have the following contact details and social medias that you can use.
|
|
||
|---|---|---|
| Broker | IC Markets | Xtrade |
| Telephone Number | +248 467 19 76 | |
| support@icmarkets.com | ||
| Address | Level 4, 50 Carrington Street, Sydney NSW 2000 | |
| IC Markets Twitter Account | Xtrade Twitter Account | |
| IC Markets Facebook Page | Xtrade Facebook Page | |
| IC Markets Instagram Account | Xtrade Instagram Account | |
| IC Markets LinkedIn Page | Xtrade LinkedIn Page | |
| YouTube | IC Markets YouTube Channel | Xtrade YouTube Channel |
| Find Out More |
|
|
Xtrade 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.
In this part of our comparison of IC Markets and Xtrade we'll check whether either of their mobile apps tick all the boxes.
We rate overall the user-friendliness of both apps as better than average.
It is crucial that trading apps have user-friendly capabilities, especially for those who use it with their smartphones.
Search Functions
Although most brokers do OK in this area, there are some bad apples out there. 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 have only traded US stocks, and you start typing 'Apple', will the software show you either the obscure Irish stock Applegreen or the Apple stock?
IC Markets vs Xtrade - Awards
|
|
||
|---|---|---|
| Broker | IC Markets | Xtrade |
| Awards |
IC Markets have won a lot of industry awards over the time they have been operating as a financial broker. We detail the most notable awards for IC Markets here.
|
At the time of writing this Xtrade review, and despite Xtrade’s impressive offering, the company has surprisingly not garnered any awards to date. |
| Find Out More |
|
|
IC Markets vs Xtrade - Frequently Asked Questions
IC Markets vs Xtrade - Headquarters And Year Of Founding
IC Markets was founded in 2007 and has its head office in Australia.
Xtrade was founded in 2003 and has its head office in Australia.
What is the minimum deposit for Xtrade or IC Markets
The minimum deposit for IC Markets is $200.
The minimum deposit for Xtrade is $1.
Depending on your circumstances, 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 Xtrade are a good option.
IC Markets vs Xtrade - 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).
Xtrade is regulated by Cyprus Securities and Exchange Commission (CySEC).
Both IC Markets and Xtrade have a strong set of rules for ensuring honest trading onto their own platforms. For information encryption purposes, they supply industry-standard secure socket layers (SSL).
In accordance with their own privacy regulations, client data is to not be shared with any other institutions or individuals. Including credit history and other financial information.
Compare IC Markets vs Xtrade Commission And Fees
IC Markets and Xtrade are online broker platforms, and most online brokerages charge lower fees than traditional brokerages tend to charge. The reason for this is that the businesses of online brokerages are scaled better. In other words, an internet broker isn't necessarily affected by the amount of clients they have.
However, this doesn't mean that online brokers don't charge any fees. They charge fees of varying rates for a variety of services to make money. There are mainly three types of fees for this objective.
The first kind of fees to look out for are trading charges. When you make an actual trade, like purchasing a stock or an ETF, you are billed trading fees. In such cases, you are paying a spread, financing speed, or a commission. The kinds of trading fees and the prices differ from broker to broker.
Commissions could be fixed or dependent on the traded quantity. On the other hand, a spread refers to the difference between the buying and selling price. Funding or overnight rates are people who are billed when you hold a leveraged position for more than daily.
Aside from trading fees, online agents also bill non-trading fees. These are dependent on the actions you undertake on your accounts. They are charged for surgeries like depositing money, not investing for long periods, or withdrawals.
In general, neither IC Markets or Xtrade charge high fees in comparison to other online agents. For operations other agents charge for, they either do not charge a broker fee, or they charge a smaller sum. This is beneficial for people who often exchange, such as weekly or daily trading.
But, non-trading fees billed by IC Markets and Xtrade are relatively competitive. Consequently, you're billed more for non-trading activities in your trading account, such as deposits and withdrawal. These aren't about the sale and purchase of resources.
This IC Markets vs Xtrade review for 2023 breaks down each of the applicable non-trading fees for you in detail.
Compare Broker Fees For IC Markets And Xtrade
|
|
||
|---|---|---|
| Broker | IC Markets | Xtrade |
| Minimum Deposit | $200 | $1 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | Yes |
| CFD Fees | Yes | Yes |
| Find Out More |
|
|
What Languages Do IC Markets And Xtrade Support?
Being able to chat completely with your online broker is a key way of comparing brokers to find the best broker. Not only for support but to ensure you understand everything on their site and inside their app as it is a key factor to success when trading forex.
Below you will find all the languages that both IC Markets and Xtrade offer communication in.
|
|
||
|---|---|---|
| Broker | IC Markets | Xtrade |
| Languages Supported | English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more | |
| Find Out More |
|
|
How Many Clients Do IC Markets and Xtrade Have?
Both IC Markets and Xtrade are well established with their customer base. It is really important to work with a broker that is professional and one of the most simple ways of establishing this is by knowing how many clients are using their services.
Below you will find details of how many users IC Markets and Xtrade have
|
|
||
|---|---|---|
| Broker | IC Markets | Xtrade |
| Clients / Users | 60,000+ | 10,000+ |
| Find Out More |
|
|
What Payment Methods Do IC Markets and Xtrade Accept?
IC Markets and Xtrade 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 Xtrade
|
|
||
|---|---|---|
| Broker | IC Markets | Xtrade |
| Bank Transfers | Yes | |
| Credit Cards | Yes | |
| PayPal | Yes | |
| Skrill | Yes | |
| Payoneer | No | |
| Neteller | Yes | |
| Find Out More |
|
|
What Can You Trade With IC Markets and Xtrade?
IC Markets offers 232 trading instruments and Xtrade offers .
Below you will find a full breakdown of what both IC Markets and Xtrade offer.
Compare IC Markets To All Other Brokers
Compare Xtrade To All Other Brokers