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 | 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.
XM Group vs IC Markets: both support forex trading via CFDs or spot contracts and offer copy trading. IC Markets lists 3,583 tradeable symbols and 61 forex pairs, giving active traders more markets to explore. XM Group carries 1,394 symbols and 55 forex pairs. For digital assets, neither broker lets you buy actual cryptocurrency, but both provide cryptocurrency derivatives for speculation.
When it comes to exchange-traded securities, XM Group stands out by letting clients buy shares on U.S. exchanges as well as international markets, while IC Markets offers exchange-traded shares only on international markets (not U.S.). Despite their different lineups, both firms earn 4.5 out of 5 stars for range of investments. In ForexBrokers.com’s rankings, XM Group places #25 out of 63 brokers and IC Markets follows closely at #26. Choose IC Markets if sheer instrument count matters most, or XM Group if access to U.S.-listed stocks is a priority.
| 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 stick to industry-standard platforms. Each offers free demo (paper) trading, Windows desktop downloads, and web-based access to MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Neither broker has a proprietary, in-house platform, so your experience centers on MT4/MT5 across devices.
For tools, both support copy trading and let you place orders directly from charts. IC Markets adds ZuluTrade, while XM Group does not; neither supports DupliTrade. Charting is comparable, with 15 drawing tools and watchlists that display 7 columns at both brokers. In ForexBrokers.com testing, each earned 4 stars for Trading Platforms and Tools, though IC Markets ranked higher (#16 of 63) than XM Group (#33 of 63), which gives IC Markets a slight edge for platform extras and overall tooling.
| 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) [DELETED] | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
XM Group and IC Markets both deliver mobile trading apps for iPhone and Android, complete with real-time watchlists and price alerts. A key difference is watchlist syncing: XM Group syncs symbols between the mobile app and your online account, while IC Markets does not, which can matter if you switch often between phone and desktop.
For charting, both apps offer 30 technical studies, trendline drawing, and multiple time frames. IC Markets has one convenience XM lacks: it auto-saves your chart drawings. In overall mobile app quality, both earn 4 out of 5 stars; however, ForexBrokers.com ranks IC Markets higher (#22 of 63) than XM Group (#31 of 63) in the Mobile Trading Apps category.
| 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
|
|---|---|---|
| Overall Rating |
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| Trust Score | 93 | 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 | 93 | 84 | |
| Winner | check_circle | ||
| Review | XM Group Review | IC Markets Review |
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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 (SFC 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. 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) [DELETED] | 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 |
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| Trust Score | 93 | 84 | |
| Winner | check_circle | ||
| Review | XM Group Review | IC Markets Review |
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