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 vs IC Markets: XM Group was founded in 2009, while IC Markets started in 2007. Neither broker is publicly traded or a bank. According to ForexBrokers.com, XM Group holds a Trust Score of 93 out of 99, placing it in the highly trusted range (90–99). IC Markets scores 83 out of 99, which is considered trusted (80–89).
On regulation, XM Group has 4 Tier-1 licenses (the most respected category) and 3 Tier-2 licenses, indicating wide regulatory oversight. IC Markets holds 2 Tier-1 licenses and no Tier-2 licenses. If top-tier authorizations and broader licensing are priorities, XM Group has the edge; if a trusted rating with fewer licenses fits your needs, IC Markets is still a solid, recognized choice.
| 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 | 3 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 3 |
XM Group’s commissions and fees are less appealing for most traders, especially on its Standard account, where spreads are relatively high. XM also does not publish average spreads for its commission-based XM Zero account, which makes it harder to compare pricing at a glance. For commissions and fees, XM Group is rated 3.5 out of 5 stars and ranked #35 out of 36 brokers by ForexBrokers.com.
IC Markets is much stronger on trading costs and is known for low effective spreads, especially on its commission-based Raw Spread and cTrader Raw Spread accounts. It offers competitive pricing across its account types, including a commission-free Standard account, and its cTrader Raw Spread account has slightly lower commissions than the MetaTrader version. IC Markets is also a good fit for active traders, with discounts for high monthly volume. For commissions and fees, IC Markets is rated 5 out of 5 stars and ranked #5 out of 36 brokers by ForexBrokers.com.
Overall, IC Markets offers better value for traders who care about keeping costs low, while XM Group is the pricier option in this category. If low spreads and clear pricing matter most, IC Markets has the edge over XM Group.
| Feature |
XM Group
|
IC Markets
|
|---|---|---|
| Minimum Deposit | $5 | $200 |
| Average spread (EUR/USD) - Spread-only account | N/A | 0.8 |
| All-in Cost EUR/USD - Raw spread account | N/A | 0.72 |
| Non-wire bank transfer (Deposit/Withdraw) | 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.
When it comes to range of investments, XM Group and IC Markets both give traders access to forex as a CFD or spot contract, copy trading, and cryptocurrency CFDs. However, IC Markets lists a much larger total selection of tradable symbols, with 7,435 compared with XM Group’s 1,583, and it also offers slightly more forex pairs, at 61 versus 54. Both brokers receive the same 4.5 out of 5 stars for range of investments, but IC Markets has the edge in product count and market variety.
XM Group stands out for offering exchange-traded securities on both U.S. and international exchanges, allowing clients to buy real shares such as Apple or Vodafone, while IC Markets does not provide this option. That makes XM Group a better fit for investors who want access to actual stocks as well as CFDs. In ForexBrokers.com’s ranking for range of investments, XM Group places #19 out of 36 brokers, while IC Markets ranks #22.
| Feature |
XM Group
|
IC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1583 | 7435 |
| Forex Pairs (Total) | 54 | 61 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| 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 are closely matched when it comes to trading platforms and tools. Both brokers offer free demo accounts for practice, as well as popular platform choices like MetaTrader 4 and MetaTrader 5. Each also provides Windows desktop software, a web-based platform, copy trading, and the ability to place trades directly from charts. Neither broker has a proprietary in-house platform, so traders looking for a custom-built experience will not find one here.
In terms of overall ratings, both XM Group and IC Markets receive 4 out of 5 stars for Trading Platforms and Tools. However, IC Markets holds a stronger position in the ForexBrokers.com ranking, placing #17 out of 36 brokers, compared with XM Group at #28. For most traders, the choice may come down to small differences in platform preference and trading style, since both brokers cover the main tools that beginners and active traders usually want.
| 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) | 100 | 32 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
XM Group and IC Markets both give traders the basics they need on the go, with iPhone and Android apps, price alerts, and the ability to draw trendlines on charts. Each broker also earns a 4-star rating for mobile trading apps, so both are solid choices for everyday mobile use. In terms of ranking, IC Markets comes out a little ahead, placing #22 out of 36 brokers for mobile trading apps, while XM Group ranks #26.
The main differences show up in app features. XM Group offers watchlist symbol syncing, so changes made in the mobile app and online account stay matched, which can make tracking trades easier. IC Markets does not offer this. On the charting side, IC Markets has a slight edge with 32 technical studies compared with XM Group’s 30, and it also auto-saves drawings on charts, while XM Group does not. Overall, IC Markets has a small advantage for charting and convenience, while XM Group stands out for watchlist syncing.
| 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 | 32 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | No | Yes |
Dive deeper: Best Forex Trading Apps.
XM Group and IC Markets both give traders a strong set of market research tools. Each broker offers daily market commentary, news from major sources such as Bloomberg, Reuters, and Dow Jones, a Trading Central tool for technical analysis, sentiment data showing long and short positioning, and an economic calendar with upcoming global events. Neither broker includes Autochartist, and neither offers Acuity Trading tools.
Where they differ is in extra research coverage and overall ratings. IC Markets includes TipRanks research, while XM Group does not. Even so, XM Group comes out ahead on research overall, earning 5 out of 5 stars and ranking #8 out of 36 brokers by ForexBrokers.com, compared with IC Markets’ 4 out of 5 stars and #21 ranking.
| Feature |
XM Group
|
IC Markets
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central | Yes | Yes |
| Client sentiment data | Yes | Yes |
| TipRanks | No | Yes |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to learning support for beginners, both XM Group and IC Markets offer a strong range of educational materials. Each broker provides forex and CFDs education with at least 10 learning pieces, along with monthly educational webinars and a wide set of beginner and advanced video lessons. That means new traders can find helpful content on the basics, while more experienced users also have material to build on.
Even so, XM Group has the edge in education overall. It is rated 5 out of 5 stars for Education and ranks #5 out of 36 brokers on ForexBrokers.com, compared with IC Markets at 4 out of 5 stars and #16. For beginners looking for the broker with the stronger learning offering, XM Group stands out as the better choice, although IC Markets still provides plenty of useful education.
| 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
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IC Markets
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| Trust Score | 93 | 83 |
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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 | 83 | |
| Winner | check_circle | ||
| Review | XM Group Review | IC Markets Review |
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| Regulation | XM Group | IC Markets | |
|---|---|---|---|
| Trust Score | 93 | 83 | |
| 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 | 3 | 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) | Yes | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA, FSRA, or CMA 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) | 1583 | 7435 | |
| Forex Pairs (Total) | 54 | 61 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| 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) - Spread-only account | N/A | 0.8 | |
| All-in Cost EUR/USD - Raw spread account | N/A | 0.72 | |
| Inactivity Fee | Yes | Yes | |
| 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 (Deposit/Withdraw) | 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) | 100 | 32 | |
| 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 | 32 | |
| 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 | No | |
| Trading Central | Yes | Yes | |
| TipRanks | No | Yes | |
| 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 | 83 | |
| Winner | check_circle | ||
| Review | XM Group Review | IC Markets Review |
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