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 leading online brokers, both established over a decade ago—XM Group in 2009 and IC Markets in 2007. Neither broker is publicly traded or operates as a bank. When assessed through the lens of regulatory credibility, XM Group emerges as slightly more fortified, boasting four Tier-1 licenses and one Tier-2 license, compared to IC Markets' two Tier-1 licenses with no Tier-2 licenses. These licenses are pivotal as they signal a broker's compliance with stringent financial safeguards and industry standards.
In terms of trustworthiness, XM Group holds a Trust Score of 88 out of 99, placing it comfortably in the 'trusted' bracket according to ForexBrokers.com ratings, which is a step above the 'average risk' category for scores between 80 and 89. IC Markets, while also in this category, carries a Trust Score of 84. Both brokers are well-regarded, yet XM Group's higher score and more comprehensive regulatory coverage could offer a greater peace of mind for traders seeking a broker with notable credentials.
| 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 |
XM Group and IC Markets are two popular online brokers, each with distinct approaches to commissions and fees. XM Group's Standard account has relatively high spreads, and unfortunately, they do not publish average spreads for their commission-based XM Zero account, making fee transparency a bit challenging. With a rating of 4 stars and a rank of #33 out of 62 brokers in the Commissions and Fees category, XM Group offers competitive fees, although some traders may find these less attractive compared to other options.
IC Markets distinguishes itself with low trading costs that challenge even the best low-cost forex brokers like IG and CMC Markets. Featuring a 5-star rating and a commendable rank of #5 in the same category, IC Markets offers three account types: the commission-free Standard account as well as commission-based Raw Spread and cTrader Raw Spread accounts. The broker's effective spreads and minimal deposit requirements make it a top choice for cost-conscious traders. For example, its average spread on the EUR/USD pair is a mere 0.02 pips, resulting in an all-in cost of 0.62 pips on the cTrader account and 0.72 pips on the MetaTrader Raw Spread account, including commissions.
What's more, IC Markets rewards active traders with discounts for those trading over 100 standard lots per month. This high emphasis on competitive pricing strategies and flexibility across multiple platforms explains its recognition as Best in Class for Commissions and Fees in the 2024 Annual Awards. Offering transparent and cost-effective trading options, IC Markets remains a strong contender for both new and experienced traders.
| 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.
When comparing XM Group and IC Markets concerning their range of available investments, both brokers offer a comprehensive selection in the forex trading arena, with XM Group providing 55 tradeable forex pairs and IC Markets slightly leading with 61 pairs. XM Group gives traders access to a broader spectrum of tradeable symbols, boasting 1,394 options, compared to the 3,583 available through IC Markets. However, XM Group provides the opportunity to purchase exchange-traded securities on U.S. exchanges, allowing clients to acquire shares like Apple, a feature not offered by IC Markets.
Both brokers extend the opportunity for copy trading and provide access to cryptocurrency derivatives rather than direct cryptocurrency purchases. When it comes to offering international exchange-traded securities, both brokerage firms allow for investments like Vodafone shares. The appeal of both brokers is further highlighted by their identical 4.5-star ratings for their range of investments. Nevertheless, it's noteworthy that XM Group ranks slightly higher at number 23 compared to IC Markets' 25th place in the Range of Investments category according to ForexBrokers.com.
| 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.
Both XM Group and IC Markets offer a range of trading platforms and tools that cater to different trading needs. Both brokers provide simulated trading through free virtual demo accounts, allowing users to practice their strategies without financial risk. Neither company offers a proprietary trading platform developed in-house, but they do support popular third-party platforms. These include MetaTrader 4 (MT4) and MetaTrader 5 (MT5), facilitating a familiar and reliable trading experience. Traders can choose between Windows-based desktop downloads and web-based browser platforms for both brokers. Furthermore, XM Group and IC Markets offer copy trading options; however, only IC Markets provides ZuluTrade, giving it a slight edge in social trading capabilities.
When it comes to charting tools, both XM Group and IC Markets are evenly matched with 15 drawing tools each, allowing traders to analyze market trends effectively. Traders can engage directly from stock charts on both platforms, with watch lists featuring 7 customizable columns. Despite these similarities, IC Markets ranks higher in the Trading Platforms and Tools category, placing 16th compared to XM Group's 30th out of 62 brokers according to ForexBrokers.com. Both brokers have received a solid 4-star rating for their trading platforms and tools, reflecting their consistent performance and features that cater well to a broad swath of traders.
| 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) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both XM Group and IC Markets provide mobile trading apps accessible to iPhone and Android users. These platforms ensure traders can enact strategies on the move, equipped with similar features like stock and forex price alerts and the capability to draw trendlines on charts. Users of either app can view multiple time frames on charts and create watchlists with real-time quotes, enhancing their trading experience. However, a key difference between the two is found in watchlist symbol syncing—XM Group supports synchronization with the client’s online account, allowing changes made in one location to reflect in the other, whereas IC Markets does not offer this syncing feature.
When evaluating charting functionalities, both apps offer an equal number of technical studies, up to 30, catering to technical analysts. It is important to note, though, that IC Markets app auto-saves drawings on charts, a feature not present in the XM Group app. Despite these nuanced differences, both apps have a commendable user rating of four out of five stars for mobile trading, as rated by ForexBrokers.com. Yet, in the Mobile Trading Apps category, IC Markets holds a slightly higher rank, positioned at #22 out of 62 brokers, compared to XM Group's rank at #28. These ratings and features provide traders with insights to choose the mobile trading platform that best aligns with their needs.
| 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.
If you're considering XM Group or IC Markets for online trading, it's essential to look into their market research offerings. Both XM Group and IC Markets provide daily market commentary and access to top-tier forex news from sources like Bloomberg, Reuters, and Dow Jones. They also offer economic calendars to keep you informed of global events impacting economies around the world. Both brokers feature services from Trading Central, helping traders with technical analytics, and provide sentiment-based trading tools that display the ratio of long or short positions across various instruments.
While both brokers seem well-equipped, there are notable differences. IC Markets offers technical analysis tools from Autochartist, enhancing their research arsenal. However, this edge doesn't overshadow XM Group's overall research services, reflected in their higher rating. XM Group receives a perfect 5-star research rating and ranks #8 in the Research category by ForexBrokers.com out of 62 brokers. In comparison, IC Markets scores 4 stars and ranks #23. Neither broker offers market research from TipRanks or Acuity Trading, but XM Group's superior ranking suggests a more comprehensive research experience.
| 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 provide a comprehensive selection to help new traders. Both brokers offer more than 10 educational pieces focused on forex or CFDs, which include articles, videos, and archived webinars. They also provide monthly online educational webinars, along with a searchable archive of recorded sessions, ensuring that learning opportunities are readily accessible. Additionally, each broker offers a series of beginner educational videos, making it easy for new traders to start learning trading concepts through visual content.
For those looking to delve deeper, both XM Group and IC Markets provide over 10 advanced educational videos. However, IC Markets goes a step further by offering an investor dictionary with over 50 investing terms, a feature that XM Group does not provide. Despite this, XM Group shines in its overall educational rating, earning 5 stars compared to IC Markets' 4 stars. When ranked among 62 brokers by ForexBrokers.com, XM Group holds the 7th position for education, whereas IC Markets is ranked 16th, reflecting XM Group’s superior educational offerings for traders at all stages.
| 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 62 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
|
|---|---|---|
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| Trust Score | 88 | 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 | 88 | 84 | |
| Winner | check_circle | ||
| Review | XM Group Review | IC Markets Review |
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| Regulation | XM Group | IC Markets | |
|---|---|---|---|
| Trust Score | 88 | 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) | 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) | XM Group | IC Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| 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) | 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 |
| Overall | XM Group | IC Markets | |
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| Trust Score | 88 | 84 | |
| Winner | check_circle | ||
| Review | XM Group Review | IC Markets Review |
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