Written by ForexBrokers.com
In this head to head comparison of XM Group vs IC Markets, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
XM Group and IC Markets are both prominent online brokers that cater to traders globally, though their regulatory standings are distinct. Founded in 2009, XM Group holds an impressive position with a high Trust Score of 93 out of 99, reflecting its strong credibility in the industry. It boasts 4 Tier-1 licenses, indicating a very high trust level, along with 1 Tier-2 license, further asserting its secure and trustworthy reputation. Despite being not publicly traded or a bank, XM Group's robust licensing places it as a highly trusted broker.
In comparison, IC Markets, established in 2007, operates with a Trust Score of 84 out of 99, categorizing it as a trusted broker. The company holds 2 Tier-1 licenses but does not have any Tier-2 licenses, which generally illustrates a solid, trusted position, though slightly less rigorous than XM Group's. Like its competitor, IC Markets is neither publicly traded nor a bank, yet it maintains a reliable status within the market. Both brokers, although not publicly listed, offer services that appeal to cautious and informed traders looking for regulated and reputable trading platforms.
| Feature |
XM Group
|
IC Markets
|
|---|---|---|
| Year Founded | 2009 | 2007 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 3 |
Comparing commissions and fees, IC Markets takes the lead over XM Group. XM Group earns 4 out of 5 stars and ranks #34 of 63 brokers for Commissions & Fees at ForexBrokers.com, while IC Markets scores 5 out of 5 stars, ranks #5 of 63, and won Best in Class for Commissions & Fees in ForexBrokers.com’s 2024 Annual Awards.
XM Group’s pricing is less compelling for cost-focused traders. Its Standard account spreads are considered expensive, and the broker does not publish average spreads for its commission-based XM Zero account, which makes it harder to gauge true all-in trading costs.
IC Markets offers three account types: a commission-free Standard account (average EUR/USD spread of 0.62 pips) and two commission-based Raw Spread accounts on cTrader and MetaTrader (MT4/MT5). On cTrader, the commission is $3.00 per side per 100,000 units ($6 round turn), producing an all-in EUR/USD cost around 0.62 pips based on a 0.02-pip average spread; on MetaTrader Raw, the commission is $3.50 per side ($7 round turn) for an all-in cost near 0.72 pips. Spreads can vary by platform, account type, and which IC Markets entity you use (Cyprus, Australia, or Seychelles). IC Markets also has a low minimum deposit for its commission-based accounts, offers discounts for high-volume traders, and its pricing can rival top low-cost brokers like IG and CMC Markets.
| Feature |
XM Group
|
IC Markets
|
|---|---|---|
| Minimum Deposit | $5 | $200 |
| Average spread (EUR/USD) - Standard account | 1.6 | 0.62 |
| All-in Cost EUR/USD - Active | 0.8 | 0.62 |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
XM Group and IC Markets both let you trade forex as CFDs and via spot, support copy trading, and offer cryptocurrency CFDs (but not actual crypto). IC Markets lists more instruments overall (3,583 vs. XM’s 1,394) and slightly more forex pairs (61 vs. 55), which may appeal to active traders who want more markets in a CFD setup.
For buying shares outright, XM stands out by offering exchange-traded U.S. stocks as well as international shares, while IC Markets offers exchange-traded international shares but not U.S. stocks. Both are rated 4.5 out of 5 stars for Range of Investments by ForexBrokers.com, with XM ranked #25 of 63 and IC Markets close behind at #26. In short, pick XM if you want access to actual U.S. shares alongside CFDs, or IC Markets if you prioritize a larger list of CFD symbols and forex pairs.
| Feature |
XM Group
|
IC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1394 | 3583 |
| Forex Pairs (Total) | 55 | 61 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
XM Group and IC Markets both make it easy to get started with a free demo account for practice. Neither broker has its own proprietary platform; instead, both offer the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) on the web and as Windows desktop downloads. Each supports copy trading and lets you place orders directly from charts, giving you familiar tools whether you prefer web-based trading or a full desktop setup.
When it comes to quality scores, both brokers earn 4 out of 5 stars for Trading Platforms and Tools. According to ForexBrokers.com, IC Markets ranks higher in this category (#16 out of 63) compared with XM Group (#33 out of 63). If you’re choosing between them for platform features, expect a similar MetaTrader experience at both, with IC Markets holding the edge in the category ranking.
| Feature |
XM Group
|
IC Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | No | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
XM Group and IC Markets both deliver capable mobile trading apps for iPhone and Android, complete with stock/forex price alerts. Charting tools are similar, offering 30 technical indicators and the ability to draw trendlines in each app. Key differences: XM Group syncs your watchlist between the mobile app and your online account (IC Markets does not), while IC Markets auto-saves your chart drawings (XM Group does not).
Both mobile trading apps earn 4-star ratings. According to ForexBrokers.com, IC Markets ranks #22 out of 63 brokers for Mobile Trading Apps, while XM Group ranks #31. Choose IC Markets if auto-saved chart annotations matter most, or pick XM Group if cross-device watchlist syncing is your priority.
| Feature |
XM Group
|
IC Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | No | Yes |
Dive deeper: Best Forex Trading Apps.
XM Group and IC Markets both cater to traders with comprehensive research offerings. Both brokers provide daily market commentary and access to forex news from prominent sources such as Bloomberg, Reuters, and Dow Jones, ensuring that traders are up-to-date with global market movements. Additionally, both brokers offer advanced tools from Trading Central and sentiment-based trading tools that reveal the ratio of long and short positions across various instruments. An economic calendar is also available through both brokers, keeping traders informed about significant global news events.
There are, however, some differences in their research tool selections. While IC Markets offers technical and fundamental analysis tools from Autochartist, XM Group does not. Neither broker offers market research from TipRanks or tools from Acuity Trading, such as Signal Centre. When evaluating their research services, XM Group receives a higher rating of 5 stars compared to IC Markets, which is rated 4 stars. This difference is also reflected in their rankings by ForexBrokers.com, where XM Group shines in 8th place, whereas IC Markets is ranked at 23rd out of 63 brokers.
| Feature |
XM Group
|
IC Markets
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central | Yes | Yes |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Comparing XM Group vs IC Markets for beginner education, both brokers deliver full forex and CFD learning hubs with well over 10 materials, including articles, videos, and archived webinars. Each hosts live client webinars at least once a month and offers deep video libraries tailored to different skill levels—at least 10 beginner videos to cover the basics and at least 10 advanced videos for traders ready to go further.
When it comes to quality and recognition, XM Group stands out: it earns 5 out of 5 stars for Education and ranks #7 out of 63 brokers on ForexBrokers.com. IC Markets is also strong, with 4 out of 5 stars and a #16 ranking. For brand-new traders focused on learning, XM Group has the edge, while IC Markets still provides plenty of easy-to-follow content and regular webinars to build skills.
| Feature |
XM Group
|
IC Markets
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that XM Group is better than IC Markets. XM Group finished with an overall rank of #17, while IC Markets finished with an overall rank of #20.
XM Group is a MetaTrader-only broker that offers a strong selection of high-quality educational content and market research.
| Feature |
XM Group
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IC Markets
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|---|---|---|
| Overall Rating |
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| Trust Score | 93 | 84 |
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Comparing online brokers XM Group vs IC Markets: neither offers buying actual (delivered) cryptocurrency, but both provide cryptocurrency CFD trading.
Comparing deposit and withdrawal methods at online brokers XM Group vs. IC Markets: neither supports ACH or SEPA transfers, both accept Skrill and bank wire transfers, only IC Markets supports PayPal (XM Group does not), and Visa/Mastercard availability is not specified for either.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | XM Group | IC Markets | |
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| Trust Score | 93 | 84 | |
| Winner | check_circle | ||
| Review | XM Group Review | IC Markets Review |
| Broker Screenshots | XM Group | IC Markets | |
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| Regulation | XM Group | IC Markets | |
|---|---|---|---|
| Trust Score | 93 | 84 | |
| Year Founded | 2009 | 2007 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 4 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 3 |
| Tier-1 Licenses (Highly Trusted) | XM Group | IC Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | No | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | XM Group | IC Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | XM Group | IC Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1394 | 3583 | |
| Forex Pairs (Total) | 55 | 61 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | XM Group | IC Markets | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.6 | 0.62 | |
| All-in Cost EUR/USD - Active | 0.8 | 0.62 | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | Yes | |
| Order execution: Market Maker | Yes | Yes |
| Funding | XM Group | IC Markets | |
|---|---|---|---|
| Minimum Deposit | $5 | $200 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | No |
| Trading Platforms | XM Group | IC Markets | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | No | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | Yes |
| Trading Tools | XM Group | IC Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | XM Group | IC Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | No | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | XM Group | IC Markets | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central | Yes | Yes | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | XM Group | IC Markets | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | XM Group | IC Markets | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | XM Group Review | IC Markets Review |
| Overall | XM Group | IC Markets | |
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| Trust Score | 93 | 84 | |
| Winner | check_circle | ||
| Review | XM Group Review | IC Markets Review |
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