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 |
When comparing the commissions and fees of IC Markets and Xtrade, IC Markets clearly stands out as a cost-effective option for traders. IC Markets offers competitive effective spreads and low deposit requirements, making it a strong contender among low-cost forex brokers. It provides three account types: the commission-free Standard account, and the commission-based Raw Spread and cTrader Raw Spread accounts. Notably, the cTrader Raw Spread account has a slightly lower commission of $3.00 per side for every 100,000 units compared to $3.50 on MetaTrader, bringing the effective spread on the EUR/USD to a competitive 0.62 pips. Moreover, IC Markets offers perks for active traders handling over 100 standard lots monthly. With a top rating of 5 stars in the Commissions & Fees category and a ranking of #5 among 63 brokers on ForexBrokers.com, IC Markets delivers notable value.
In contrast, Xtrade falls behind in competitiveness, as average spread data is unavailable, and it lacks the detailed cost breakdown that IC Markets presents. Without transparent pricing or discounts for active trading, potential traders may face uncertainties in cost estimation. Consequently, Xtrade received a lower rating of 2.5 stars for commissions and fees and ranked #63 out of 63 brokers in the same category. This suggests that traders looking for more predictable and lower trading costs might find IC Markets a more attractive choice.
Overall, IC Markets offers thorough and competitive pricing structures that provide an edge over Xtrade, especially for those prioritizing transparency and cost-effectiveness. With a higher star rating and superior ranking in the Commissions & Fees category, IC Markets sets itself apart as a leader in the online brokerage space, whereas Xtrade might not meet the expectations of cost-conscious traders.
| 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.
When it comes to the range of investments, IC Markets takes the lead with an impressive offering of 3583 tradeable symbols compared to Xtrade’s 482. IC Markets shines particularly in forex trading, offering 61 tradeable forex pairs against Xtrade’s 56. Both platforms provide forex trading as CFDs or spot contracts, catering to trading enthusiasts. However, only IC Markets provides access to exchange-traded securities on international exchanges, such as Vodafone shares, whereas Xtrade does not offer this feature. Both brokers fall short in offering the purchase of actual cryptocurrencies, sticking to cryptocurrency derivatives instead.
Additionally, IC Markets offers copy trading, a convenient feature for those looking to mirror the strategies of successful traders, a function that Xtrade lacks. Rated 4.5 stars for their range of investments, IC Markets scores significantly above Xtrade’s 3.5 stars. This discrepancy is further highlighted by their rankings from ForexBrokers.com, where IC Markets is positioned at #25, while Xtrade trails behind at #49 out of 63 brokers in the same category, making IC Markets the more diverse choice for investors seeking a wider range of market opportunities.
| 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.
When comparing the trading platforms and tools of IC Markets and Xtrade, several factors stand out. Both brokers offer a simulated trading experience with free virtual demo accounts, which can be a significant advantage for beginners wanting to practice without real financial risk. For those preferring Windows-based desktop platforms, IC Markets provides this option, unlike Xtrade, which focuses solely on a web-based platform. IC Markets also brings the popular MetaTrader 4 and MetaTrader 5 to the table, options not available with Xtrade. Additionally, IC Markets supports copy trading and ZuluTrade, features Xtrade does not offer.
However, Xtrade makes a strong case for itself with a proprietary trading platform tailored specifically for its users, offering an extensive selection of 100 drawing tools for charting, compared to IC Markets' 15. Both brokers support trading directly from stock charts, enhancing user convenience. In terms of watchlists, Xtrade leads with nine columns for organizing fields versus IC Markets’ seven. Despite these features, IC Markets receives a higher rating of 4 stars against Xtrade’s 3.5 for trading platforms and tools. Ranked by ForexBrokers.com, IC Markets stands at 16th out of 63 brokers in this category, whereas Xtrade sits at 58th, highlighting the higher overall satisfaction for IC Markets’ platform offerings.
| 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.
When comparing the mobile trading apps of IC Markets and Xtrade, both brokers provide applications for iPhone and Android users. IC Markets stands out by offering stock and forex price alerts, while Xtrade lacks this feature. IC Markets equips traders with 30 technical studies for charting, along with tools to draw trendlines and follow various time frames, such as daily or weekly, on its mobile app. In contrast, Xtrade lacks availability for these functionalities. For traders who favor technical analysis, IC Markets allows chart drawings to be auto-saved, adding convenience not currently not available with Xtrade.
Both brokers do not support watchlist symbol syncing, though they vary in real-time quote watchlist capabilities. IC Markets provides it, whereas Xtrade does not have this feature. Despite these differences in offerings, both apps share a rating of 4 stars for their mobile platforms. However, when considering rankings by ForexBrokers.com, IC Markets is positioned at a more advantageous #22 out of 63 brokers, while Xtrade ranks #53. Overall, IC Markets appears to present a more comprehensive mobile trading app experience compared to Xtrade.
| 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 offer daily market commentary and access to forex news from top-tier sources such as Bloomberg and Reuters. However, IC Markets stands out in providing a more comprehensive suite of research tools. They offer access to technical analysis and fundamental research tools from Autochartist and Trading Central, along with a sentiment-based trading tool that shows the ratio of long or short positions across various currency pairs. Xtrade, on the other hand, does not provide these same advanced technical analysis tools or sentiment-based trading resources.
Both brokers offer economic calendars to help traders stay informed about global news events. However, IC Markets enjoys a slight edge in the quality of market research it offers, earning a 4-star rating compared to Xtrade's 3.5 stars. Ranked by ForexBrokers.com, IC Markets holds the 23rd position out of 63 brokers in the Research category, while Xtrade is placed at 52nd. This suggests that IC Markets may be better suited for those seeking more advanced research tools and insights to guide their trading strategies.
| 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
|
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) | 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) | IC Markets | Xtrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| 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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