IC Markets
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76.27% of retail CFD accounts lose money.

Vs.

XM
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74.89% of retail CFD accounts lose money.

IC Markets Vs. XM - Compare Trustworthiness, Capabilities, Fees and Legitimacy

Updated Sep 25 2023

Visit

76.27% of retail CFD accounts lose money.

Visit

74.89% of retail CFD accounts lose money.

Overview

IC Markets is an Australian broker with a global presence specialising in Forex trading. One of their greatest advantages is providing RAW spread accounts with interbank pricing.

XM is an international broker headquartered in Cyprus which offers MetaTrader 4 & 5 and over 1500 + tradable assets.

Best For
  • Professional traders looking for Interbank rates
  • High volume traders that will save great amounts of costs with their low spreads and commissions
  • Experienced traders looking to trade shares in high volume using their Zero account
  • MetaTrader users wishing to explore XM's offering while maintaining their preferred platforms
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

1

Other Licenses

2

Provided by
TheTradingBible.com

Learn More

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

2

Other Licenses

1

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • ASIC (Australia)
  • CySec (Cyprus)
  • FSA (Seychelles)
  • ASIC (Australia)
  • CySec (Cyprus)
  • ADGM (United Arab Emirates)
The Good
  • Customisable leverage per asset before opening trades
  • Interbank rates and low commissions
  • Great platform variety
  • Competitive commissions on their Zero account
  • Modest asset offering of 1500+ tradable instruments (similar to competitors in the same range)
The Bad
  • Avaliable assets are limited (Also No ETFs)
  • No ability to purchase real stocks or cryptocurrencies, only CFDs
  • No proprietary platforms or technology
  • Expensive spreads and trading fees
  • Lack of asset variety when compared to other brokers in the same range
Status
Operational Operational
Recent News

No fresh news at the moment. Check again soon!

No fresh news at the moment. Check again soon!

Key Data
⌛ Account Opening Time
1 day 1 day
📋 Documents Required
  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

📍 Year Founded
2007 2009
💳 Minimum Deposit Range
$200 $5
💰 Payment Methods
  • Visa
  • Mastercard
  • Bank Transfer
  • Bitcoin
  • Sofort
  • Paypal
  • Neteller
  • Skrill
  • Visa
  • Mastercard
  • Bank Transfer
  • Neteller
  • Skrill
💵 Account Base Currencies
10 - USD, GBP, EUR, AUD, CHF, JPY, HKD, CAD, SGD, NZD. 11 - USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR.
🗽 Available to U.S Citizens
No No
❌ Restricted Countries

US, CA, IL.

US, CA.

📊 STP Account
Yes No
📊 DMA Account
No No
📊 ECN Account
Yes No
Banking License
No No
Debit Card
No No
Assets
📚 Assets Type
CFDs CFDs
Total Asset Offering
1,737 1,382
Exchange Access
0 0
📙 Real Stocks
0 0
📙 Stock CFDs
1,600 1,286
📘 Currency Pairs
0 0
📘 Currency Pair CFDs
61 57
📗 Commodities
0 0
📗 Commodities CFDs
22 15
📕 Indices
0 0
📕 Indices CFDs
25 14
📔 ETFs
0 0
📔 ETFs CFDs
0 0
💸 Cryptocurrencies
0 0
💸 Cryptocurrency CFDs
18 0
📒 Bonds
0 0
📒 Bonds CFDs
11 0
📓 Options
0 0
📓 Options CFDs
0 0
📗 Futures
0 0
📗 Futures CFDs
0 10
Trading Experience
📈 Minimum Stock Trade Size
Unavailable Variable - Fractions allowed
📉 Minimum ETFs Trade Size
Unavailable Unavailable
📈 Minimum Crypto Trade Size
Varies by Cryptocurrency (Eg: 0.01 BTC) Unavailable
📉 Minimum FX Trade Size
$1,000 - 0.01 Lots $100 (0.001 Lots)
📈 Minimum Commodities Trade Size
$1,000 - 0.01 Lots Varies by Commodity (Eg: 0.01 Troy ounce of Gold)
📉 Minimum Bonds Trade Size
Unavailable Unavailable
📈 Minimum Futures Trade Size
Unavailable Varies by Commodity (Eg: 0.01 Troy ounce of Gold)
📉 Minimum Options Trade Size
Unavailable Unavailable
💪 Retail Leverage
30 30
💪 Professional Leverage
500 500
✍ Customisable Leverage
Yes Yes
🎲 Deleveraged Trading
No No
🎓 Demo Account
Yes Yes
📱 IOS App
Yes No
📱 Android App
Yes No
📺 MetaTrader 4
Yes Yes
📺 MetaTrader 5
Yes Yes
📺 cTrader
Yes No
💻 Web trader
Yes Yes
💻 TradingView Platform
No No
💻 Proprietary Platform
No No
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
Yes Yes
👫 Social Trading
Yes No
🔑 Guaranteed Stop-loss
No No
🔨 Trailing Stop-loss
No Yes
Fees
💰 Inactivity Fee
None

Yes, $15 one time payment after 1 year of inactivity and then $5 monthly.

💰 Deposit Fees
None None
💰 Withdrawal Fees
None None
💰 Commissions

No commissions in standard accounts but rather a 1 Pip spread markup on interbank prices received. For Raw spreads accounts, $7 per lot round turn.

Yes on Zero accounts ($7 per lot round turn).

Spreads
📈 EUR/USD
Dynamic - From 0 to 0.6 Pips Dynamic - From 1.7 Pips
📉 SP500
Dynamic - From 20 to 45 Pips Dynamic - From 40 Pips
📈 GOLD
Dynamic - From 30 Pips Dynamic - From 35 Pips
📉 TSLA (Stock CFD)
Dynamic - Market Spread Dynamic - From $9.4
📈 XLK (ETF - CFD)
Unavailable Unavailable
📉 BTC
Dynamic - From $8.7 to $42 Unavailable
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No No
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
No No
📡 Reuters Feed
No No
📡 Educational Content
Yes Yes
📡 Live Chat Support
Yes No
📡 Video Tutorials
No No
📡 Account Management
No Yes
📡 Webinars
No Yes