Written by ForexBrokers.com
In this head to head comparison of IC Markets vs Xtrade, 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.
Founded in 2007, IC Markets is an online broker that is not publicly listed or affiliated with any banks, ensuring it remains independent in its operations. Positioned in the trusted category with a Trust Score of 84 out of 99, IC Markets holds two Tier-1 licenses. These licenses enhance its integrity in the eyes of ForexBrokers.com, the firm responsible for the ratings, indicating a strong level of trustworthiness.
Xtrade, a broker established in 2003, is similarly not publicly traded or bank-owned. With a Trust Score of 74, it falls into the average risk category according to ForexBrokers.com. Xtrade holds one Tier-1 license and adds an additional layer of security with a Tier-2 license. While Xtrade operates under slightly higher risk than IC Markets, it still maintains a credible standing in the market thanks to its regulatory commitments.
| Feature |
IC Markets
|
Xtrade
|
|---|---|---|
| Year Founded | 2007 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 1 |
IC Markets earns 5 out of 5 stars for commissions and fees and ranks #5 out of 63 brokers, taking Best in Class in our 2024 awards. Its pricing is built around three account types: a commission-free Standard account (average EUR/USD spread listed at 0.62 pips), and two commission-based options—Raw Spread on MT4/MT5 and cTrader Raw Spread. The cTrader account charges $3.00 per side per 100,000 units ($6.00 round turn), while the MetaTrader Raw Spread charges $3.50 per side ($7.00 round turn). IC Markets lists an average 0.02‑pip EUR/USD spread (Aug 2022); when you add commissions, the all‑in cost is about 0.62 pips on cTrader and 0.72 pips on MetaTrader—highly competitive. Pricing varies by platform, account, and the IC Markets entity you choose (Cyprus, Australia, or Seychelles). There’s also a low deposit requirement for commission accounts and discounts for trading over 100 standard lots per month.
Xtrade receives 2.5 out of 5 stars for commissions and fees and is ranked #64. Average spread data is not available, which makes it difficult to benchmark Xtrade’s pricing against low-cost leaders or to estimate typical all‑in trading costs.
Bottom line on costs: IC Markets offers clearer, generally lower all‑in pricing—especially on its Raw Spread accounts—along with active‑trader discounts, while Xtrade provides less transparency. If minimizing spreads and knowing your commission schedule up front matter to you, IC Markets is the stronger choice for fees.
| Feature |
IC Markets
|
Xtrade
|
|---|---|---|
| Minimum Deposit | $200 | $250 |
| Average Spread EUR/USD - Standard | 0.62 | N/A |
| All-in Cost EUR/USD - Active | 0.62 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
IC Markets offers a far broader range of investments than Xtrade, with 3,583 tradeable symbols versus Xtrade’s 482. Both brokers support forex trading as CFDs or spot contracts, but IC Markets lists 61 currency pairs compared with 56 at Xtrade. IC Markets also supports copy trading, which Xtrade does not, giving traders more ways to mirror strategies.
Neither broker lets you buy U.S.-listed shares outright, but IC Markets does provide access to international exchange-traded shares, while Xtrade does not. For crypto, both brokers offer derivatives rather than actual coins. Reflecting this wider selection, IC Markets earns 4.5/5 stars for Range of Investments and ranks #26 out of 63 brokers on ForexBrokers.com, compared with Xtrade’s 3.5/5 stars and #50 ranking.
| Feature |
IC Markets
|
Xtrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 482 |
| Forex Pairs (Total) | 61 | 56 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | No |
| 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.
IC Markets and Xtrade both let you practice with a free demo (paper) trading account. Platform-wise, IC Markets relies on third-party software and does not have its own proprietary platform, while Xtrade offers one built in-house. If you need a Windows desktop download, IC Markets has it and Xtrade does not. Both brokers provide a web-based platform. IC Markets supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5) and enables copy trading, including ZuluTrade; Xtrade doesn’t offer MT4/MT5 or copy trading. Neither supports DupliTrade.
For trading tools, both brokers let you place trades directly from charts. Indicator totals weren’t specified, but Xtrade lists more drawing tools (100 vs 15) and more watchlist fields (9 vs 7). Overall, ForexBrokers.com rates IC Markets higher for Trading Platforms and Tools (4 stars, ranked 16th of 63) than Xtrade (3.5 stars, ranked 59th of 63). Choose IC Markets if you want MetaTrader, Windows desktop access, and copy trading; pick Xtrade if you prefer a proprietary web platform with extensive drawing tools and larger watchlists.
| Feature |
IC Markets
|
Xtrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 30 | N/A |
| Charting - Drawing Tools (Total) | 15 | 100 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
The IC Markets mobile app and the Xtrade mobile app are both available for iPhone and Android. Each earns 4 stars for mobile trading, yet IC Markets ranks higher with ForexBrokers.com (#22 out of 63) compared with Xtrade (#54).
When it comes to features, IC Markets offers more tools for on-the-go trading. IC Markets supports price alerts (Xtrade does not), includes about 30 technical studies (Xtrade does not list a comparable set), allows drawing trendlines and using multiple time frames (Xtrade does not), and auto-saves chart drawings (Xtrade does not). IC Markets also lets you create watchlists with real-time quotes, while Xtrade’s app does not. Note that neither app syncs watchlist symbols with the web platform.
| Feature |
IC Markets
|
Xtrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
IC Markets and Xtrade both cover the basics for market research: each provides daily market commentary, an economic calendar, and forex news from top-tier sources such as Bloomberg, Reuters, Dow Jones, or similar. That means you’ll get timely updates and a clear view of upcoming events no matter which broker you choose.
The difference shows up in the extra tools. IC Markets includes Autochartist, Trading Central, and a sentiment tool that shows long/short ratios—features Xtrade does not offer. Neither broker integrates TipRanks or Acuity Trading. Based on these factors, ForexBrokers.com rates IC Markets 4 stars and ranks it #23 of 63 for Research, while Xtrade earns 3.5 stars and ranks #53. If you want more built-in analysis and signals, IC Markets pulls ahead; if you just need essentials, Xtrade still delivers core coverage.
| Feature |
IC Markets
|
Xtrade
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
If you're new to trading and looking for educational resources, both IC Markets and Xtrade offer a variety of materials, though there are notable differences. IC Markets provides a comprehensive array of resources including more than ten educational articles, videos, and archived webinars focused on forex and CFDs. In addition, they conduct monthly online client webinars, and these sessions are available in a searchable archive. For those just starting, IC Markets has over ten beginner-focused videos to help you grasp trading basics, and additionally offers advanced tutorials for seasoned traders. A helpful investor dictionary with definitions for over 50 terms is also available, which can be quite useful for novice investors to learn the jargon.
On the other hand, Xtrade also offers more than ten educational pieces related to forex and CFDs, and provides an investor dictionary with definitions for over 50 investment terms. However, unlike IC Markets, Xtrade does not host regular webinars or maintain an archive of past sessions, and it lacks a wide selection of beginner and advanced video tutorials. When it comes to educational rankings, IC Markets holds the 16th position, while Xtrade sits further down at 46th. Overall, IC Markets is rated four stars for education compared to Xtrade's 3.5 stars, indicating a stronger emphasis on catering to the learning needs of beginner and advanced traders alike.
| Feature |
IC Markets
|
Xtrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that IC Markets is better than Xtrade. IC Markets finished with an overall rank of #20, while Xtrade finished with an overall rank of #60.
IC Markets’ competitive pricing and scalable execution make it an excellent option for algorithmic traders. Though it supports an impressive range of third-party tools and plugins, IC Markets’ research and education offerings are not as impressive as those offered by industry leaders.
| Feature |
IC Markets
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Xtrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 74 |
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IC Markets and Xtrade both do not offer the option to buy actual, delivered cryptocurrency, but they each provide the ability to trade cryptocurrency derivatives.
IC Markets and Xtrade both support Skrill, Visa, Mastercard, and bank wires for funding options, but 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 | IC Markets | Xtrade | |
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| Trust Score | 84 | 74 | |
| Winner | check_circle | ||
| Review | IC Markets Review | Xtrade Review |
| Broker Screenshots | IC Markets | Xtrade | |
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| Regulation | IC Markets | Xtrade | |
|---|---|---|---|
| Trust Score | 84 | 74 | |
| Year Founded | 2007 | 2003 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 1 |
| Tier-1 Licenses (Highly Trusted) | IC Markets | Xtrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| 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) | IC Markets | Xtrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA, FSRA, or SCA Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | IC Markets | Xtrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 482 | |
| Forex Pairs (Total) | 61 | 56 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | No | |
| 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 | IC Markets | Xtrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.62 | N/A | |
| All-in Cost EUR/USD - Active | 0.62 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | IC Markets | Xtrade | |
|---|---|---|---|
| Minimum Deposit | $200 | $250 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| 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 | IC Markets | Xtrade | |
|---|---|---|---|
| Proprietary Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | IC Markets | Xtrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 7 | 9 | |
| Charting - Indicators / Studies (Total) | 30 | N/A | |
| Charting - Drawing Tools (Total) | 15 | 100 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | IC Markets | Xtrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | IC Markets | Xtrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IC Markets | Xtrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | IC Markets | Xtrade | |
|---|---|---|---|
| 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 | IC Markets Review | Xtrade Review |
| Overall | IC Markets | Xtrade | |
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| Trust Score | 84 | 74 | |
| Winner | check_circle | ||
| Review | IC Markets Review | Xtrade Review |
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