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 leading online brokers, both established over a decade ago—XM Group in 2009 and IC Markets in 2007. Neither broker is publicly traded or operates as a bank. When assessed through the lens of regulatory credibility, XM Group emerges as slightly more fortified, boasting four Tier-1 licenses and one Tier-2 license, compared to IC Markets' two Tier-1 licenses with no Tier-2 licenses. These licenses are pivotal as they signal a broker's compliance with stringent financial safeguards and industry standards.
In terms of trustworthiness, XM Group holds a Trust Score of 88 out of 99, placing it comfortably in the 'trusted' bracket according to ForexBrokers.com ratings, which is a step above the 'average risk' category for scores between 80 and 89. IC Markets, while also in this category, carries a Trust Score of 84. Both brokers are well-regarded, yet XM Group's higher score and more comprehensive regulatory coverage could offer a greater peace of mind for traders seeking a broker with notable credentials.
| 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 |
When comparing XM Group and IC Markets on commissions and fees, XM Group's standard account is notably expensive as it carries high spreads, and the spreads for its XM Zero account aren't publicly disclosed, making precise cost evaluation challenging. Despite these drawbacks, XM Group manages a solid overall rating of 4 stars in the fees category, ranking #33 among 63 brokers reviewed by ForexBrokers.com.
In contrast, IC Markets shines with minimal effective spreads and a low deposit requirement for its commission-based accounts, offering some of the most competitive trading costs among forex brokers like IG and CMC Markets. The diverse account options include the commission-free Standard account and the commission-based Raw Spread and cTrader Raw Spread accounts. Each account has unique features, with the cTrader account offering slightly lower commissions than its MetaTrader counterpart, contributing to its strong performance. IC Markets holds an impressive 5-star rating in commissions and fees, securing the #5 spot in ForexBrokers.com's rankings.
IC Markets' spreads also fluctuate depending on several factors, such as the platform, account type, and the chosen IC Markets entity, whether it's their European, Australian, or offshore arm. The broker's average spread for EUR/USD is as low as 0.02 pips on certain accounts, positioning it as a competitive choice among traders. Moreover, those trading over 100 standard lots a month can benefit from active trader discounts, further enhancing IC Markets' appeal as a cost-effective trading solution.
| Feature |
XM Group
|
IC Markets
|
|---|---|---|
| Minimum Deposit | $5 | $200 |
| Average Spread EUR/USD - Standard | 1.6 | 0.62 |
| All-in Cost EUR/USD - Active | 0.8 | 0.62 |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Both XM Group and IC Markets are popular online brokers offering a wide range of investment options. XM Group provides access to 1,394 tradeable symbols, whereas IC Markets offers a larger selection with 3,583 symbols. In terms of forex pairs, IC Markets has a slight edge with 61 pairs compared to XM Group’s 55. Both brokers cater to forex traders by providing CFD and spot contract options. When it comes to exchange-traded securities, XM Group offers the ability to purchase shares on both U.S. and international exchanges, such as Apple and Vodafone. Meanwhile, IC Markets does not offer U.S. exchange-traded securities but does provide access to international ones.
For those interested in crypto trading, both brokers allow clients to trade cryptocurrency derivatives rather than the actual cryptocurrencies. Additionally, both XM Group and IC Markets offer copy trading features, allowing users to mirror the trades of experienced investors. Despite their differences, both brokers receive a similar high rating of 4.5 stars for their range of investments. In the ForexBrokers.com rankings for range of investments, XM Group is placed at #23, slightly ahead of IC Markets, which stands at #25.
| Feature |
XM Group
|
IC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1394 | 3583 |
| Forex Pairs (Total) | 55 | 61 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | 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 offer solid trading platforms and tools for traders of all levels. Both brokers provide simulated trading options through free virtual demo accounts, allowing users to practice strategies without risking real money. Neither broker has developed a proprietary trading platform, but they both support the widely-used MetaTrader 4 and MetaTrader 5 platforms. Available across Windows-based desktop downloads and web browsers, these tools ensure that traders can access their accounts from virtually anywhere. Additionally, XM Group and IC Markets feature copy trading capabilities, helping traders to replicate the strategies of more experienced peers.
Charting tools are key for both XM Group and IC Markets, as they provide 15 drawing tools each, enabling traders to conduct detailed technical analysis. They also allow trading directly from stock charts, which adds convenience for active traders. When it comes to organizing data, both brokers offer watch lists with seven customizable columns. While they both receive a four-star rating for their trading platforms and tools, IC Markets ranks higher at 16th compared to XM Group's 31st position among 63 brokers according to ForexBrokers.com. Notably, IC Markets is distinct in offering ZuluTrade as an additional platform for traders looking for alternative social trading options.
| Feature |
XM Group
|
IC Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of XM Group and IC Markets, both brokers offer impressive features for iPhone and Android users. Each platform provides essential tools like stock and forex price alerts, the capability to draw trendlines, and the ability to view charts across multiple time frames. Both brokers also offer 30 technical studies for in-depth chart analysis. While you can create watchlists with real-time quotes on both apps, XM Group stands out with its watchlist symbol sync feature, ensuring watchlists remain consistent across devices and platforms. However, while XM Group lacks an auto-save feature for chart drawings, IC Markets offers this convenience, making it a little easier to keep track of changes.
Despite offering similarly strong features, IC Markets is rated slightly better in the mobile trading category, ranking #22 out of 63 brokers according to ForexBrokers.com, compared to XM Group’s position at #29. Both apps receive 4-star ratings, indicating a generally satisfactory user experience. Whether prioritizing synced watchlists with XM Group or automatic chart drawing saves with IC Markets, both platforms provide competitive offerings for mobile forex and stock traders.
| Feature |
XM Group
|
IC Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | 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 | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both XM Group and IC Markets are top contenders offering a wide range of materials to help novice traders get started with forex and CFDs. XM Group provides over ten educational articles, videos, and webinars focusing on forex and CFDs, ensuring that beginners have ample resources to deepen their understanding. In addition to these resources, XM Group hosts monthly live webinars and maintains a searchable archive of past webinars, perfect for any schedule. With at least ten beginner-focused educational videos, XM Group ensures that new traders have access to essential trading knowledge. They also cater to more advanced traders with another set of ten videos that dive into complex topics.
IC Markets matches XM Group in several educational offerings, such as providing a large library of articles, webinars, and videos aimed at both beginner and advanced traders. However, they stand out with an extensive investor dictionary containing over 50 investing terms, which can be an invaluable reference for new traders. Despite this, it's noteworthy that XM Group edges out IC Markets in educational ratings; ForexBrokers.com awards XM Group a five-star rating for education, ranking them #7 out of 63 brokers while IC Markets receives four stars, securing the #16 spot. This suggests that while both brokers provide excellent educational content, XM Group might offer a slightly more comprehensive learning experience for beginners.
| Feature |
XM Group
|
IC Markets
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | No | 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 | 88 | 84 |
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Both XM Group and IC Markets offer the ability to trade cryptocurrency derivatives but do not provide options for purchasing actual, delivered cryptocurrencies.
While both XM Group and IC Markets provide Skrill, Visa, Mastercard, and bank wire options for depositing or withdrawing funds, only IC Markets offers PayPal, whereas neither broker supports ACH or SEPA transfers.
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 | 88 | 84 | |
| Winner | check_circle | ||
| Review | XM Group Review | IC Markets Review |
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| Regulation | XM Group | IC Markets | |
|---|---|---|---|
| Trust Score | 88 | 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 (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| 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) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | XM Group | IC Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1394 | 3583 | |
| Forex Pairs (Total) | 55 | 61 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | 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 | 1.6 | 0.62 | |
| All-in Cost EUR/USD - Active | 0.8 | 0.62 | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | XM Group | IC Markets | |
|---|---|---|---|
| Minimum Deposit | $5 | $200 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | XM Group | IC Markets | |
|---|---|---|---|
| Proprietary Platform | No | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | XM Group | IC Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| Charting - Drawing Tools (Total) | 15 | 15 | |
| 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 Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | XM Group | IC Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | XM Group | IC Markets | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | No | Yes |
| Major Forex Pairs | XM Group | IC Markets | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | XM Group Review | IC Markets Review |
| Overall | XM Group | IC Markets | |
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| Trust Score | 88 | 84 | |
| Winner | check_circle | ||
| Review | XM Group Review | IC Markets Review |
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