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 | 2 | 0.62 |
| All-in Cost EUR/USD - Active | N/A | 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.
IC Markets lists 3,583 tradeable instruments and 61 forex pairs, while XM Group offers 1,394 instruments and 55 forex pairs. Both support forex trading via CFDs and/or spot, offer copy trading, and let you speculate on cryptocurrencies through CFDs; neither broker lets you buy actual crypto.
For stocks, XM Group provides access to exchange-traded shares on both U.S. and international exchanges, whereas IC Markets offers exchange-traded shares on international markets only (no U.S. listings). Both earn 4.5 out of 5 for Range of Investments from ForexBrokers.com; XM Group ranks 19th of 63 brokers in this category, and IC Markets ranks 22nd. In short, IC Markets stands out for sheer instrument count, while XM Group stands out for access to U.S. stocks.
| 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.
Choosing between XM Group and IC Markets for trading platforms and tools is straightforward because they offer nearly identical setups. Both provide a free demo account for paper trading, support MetaTrader 4 and MetaTrader 5 instead of a proprietary platform, and offer both Windows desktop and web-based platforms. You can place orders directly from charts at either broker, and both include copy trading to mirror experienced traders.
Independent ratings are also neck and neck: each earns 4 stars for Trading Platforms and Tools. The main difference is category ranking at ForexBrokers.com—out of 63 brokers, IC Markets ranks #17 while XM Group ranks #27. If rankings sway your decision, IC Markets has a slight edge; otherwise, the platform experience is largely the same across both brokers.
| 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 check the basics for mobile trading: each offers an iPhone app and an Android app, plus price alerts. Charting is strong on both, with 30 technical indicators and the ability to draw trendlines. Key differences: XM Group syncs your watchlists between the mobile app and your online account, while IC Markets does not. On the flip side, IC Markets automatically saves your chart drawings, whereas XM Group does not.
Both brokers earn 4 stars for Mobile Trading Apps. According to ForexBrokers.com, IC Markets ranks #22 out of 63 brokers in this category, while XM Group ranks #26. If synced watchlists matter most, XM Group is the better fit; if auto-saving chart annotations is your priority, IC Markets has the edge.
| 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 deliver daily market commentary, forex news from top-tier sources such as Bloomberg, Reuters, or Dow Jones, a sentiment tool showing long/short positioning, and an easy-to-use economic calendar. Each broker also integrates Trading Central for technical and fundamental insights. One notable difference is tool coverage: IC Markets includes Autochartist for pattern and signal scanning, while XM Group does not. Neither broker offers TipRanks or Acuity Trading tools.
According to ForexBrokers.com, XM Group earns 5 stars for Research and ranks #8 out of 63 brokers, while IC Markets receives 4 stars and ranks #21. If Autochartist is a must-have, IC Markets stands out. If you prefer higher-rated research with daily commentary, top-tier news, and sentiment data, XM Group comes out ahead.
| 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.
Both XM Group and IC Markets deliver beginner-friendly forex and CFD education. Each broker offers a full library with well over 10 pieces of learning content—covering articles, videos, and archived webinars—and they both run live educational webinars at least once a month. For video learners, each broker provides at least 10 beginner videos on trading basics, plus at least 10 advanced videos that explore strategies and risk management in more depth.
Where they differ is in overall quality and recognition. XM Group earns a 5-star Education rating and ranks #5 out of 63 brokers at ForexBrokers.com, while IC Markets holds 4 stars and ranks #16. If you want top-rated training materials with strong structure for newcomers, XM Group is the better pick. IC Markets still offers a solid path for beginners thanks to its regular webinars and sizable video catalog, but XM Group edges ahead for education-focused traders.
| 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 #16, while IC Markets finished with an overall rank of #21.
XM Group is a MetaTrader-only broker that offers a strong selection of high-quality educational content and market research.
| Feature |
XM Group
|
IC Markets
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 93 | 84 |
| Range of Investments |
|
|
| Trading Fees |
|
|
| Trading Platforms |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | XM Group | IC Markets | |
|---|---|---|---|
| Overall Rating |
|
| |
| Trading Fees |
|
| |
| Range of Investments |
|
| |
| Trading Platforms |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 93 | 84 | |
| Winner | check_circle | ||
| Review | XM Group Review | IC Markets Review |
| Broker Screenshots | XM Group | IC Markets | |
|---|---|---|---|
| Broker Gallery (click to expand) |
|
|
| 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 | 2 | 0.62 | |
| All-in Cost EUR/USD - Active | N/A | 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 | |
|---|---|---|---|
| Overall Rating |
|
| |
| Trading Fees |
|
| |
| Range of Investments |
|
| |
| Trading Platforms |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 93 | 84 | |
| Winner | check_circle | ||
| Review | XM Group Review | IC Markets Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Pepperstone
FP Markets
Tickmill