Written by ForexBrokers.com
In this head to head comparison of XTB 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.
XTB, established in 2002, stands out with a Trust Score of 96, placing it in the highly trusted category according to ForexBrokers.com. Unique among many brokers, XTB is publicly traded, providing an extra layer of transparency for its clients. The broker holds two Tier-1 and two Tier-2 licenses, reinforcing its strong regulatory standing across different regions. Despite not being a bank, XTB's regulatory setup supports its reputation as a highly trusted broker in the online trading space.
In comparison, IC Markets, which began operations in 2007, holds a Trust Score of 84. While this positions it as a trusted broker, it operates without being publicly listed. IC Markets matches XTB with two Tier-1 licenses but does not hold any Tier-2 licenses, which may affect the perception of its regulatory coverage. Like XTB, IC Markets is not a bank, yet it successfully maintains a trustworthy profile among its users.
| Feature |
XTB
|
IC Markets
|
|---|---|---|
| Year Founded | 2002 | 2007 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 3 |
When considering commissions and fees, XTB provides two account types: a Standard account which operates on spreads only, and a Professional account that is commission-based. However, this Pro option is reserved for specific professional clients in Europe and is being phased out. Generally, XTB's pricing aligns with average industry rates, but it doesn't compete with the top brokers in terms of cost-effectiveness. XTB's average spread on the EUR/USD was noted at 1 pip in Q4 2023. For active traders within the EU meeting certain criteria, XTB offers a rebate program where a portion of the spread is refunded, ranging from 5% to 30% based on trading volume. With a fee score of 4.5 stars, XTB is ranked 11th out of 62 brokers in the Commissions and Fees category by ForexBrokers.com.
IC Markets, on the other hand, is recognized as one of the best in class for low trading costs, due to its minimal effective spreads and low deposit requirement. Their offerings include three types of accounts: a commission-free Standard account and two commission-based ones, the Raw Spread and cTrader Raw Spread accounts. The pricing for IC Markets varies slightly depending on the platform, with cTrader offering marginally lower commissions. For instance, the cTrader account has an all-in cost of 0.62 pips while the MetaTrader Raw Spread account totals 0.72 pips. This competitive pricing makes IC Markets a strong choice for cost-conscious traders, especially since they offer discounts to those trading over 100 standard lots monthly. IC Markets has earned a perfect 5-star rating and is ranked 5th among 62 brokers for commissions and fees on ForexBrokers.com.
In summary, XTB suits retail traders with its Standard account, providing a cost structure that becomes economically advantageous at smaller volumes, combined with their active trader rebate program for high-volume traders. However, for those prioritizing low trading costs and flexible account options, IC Markets stands out with its competitive pricing, especially for users who favor the cTrader platform. The higher ratings and ranking of IC Markets reflect its superior standing in offering competitive commissions and fees.
| Feature |
XTB
|
IC Markets
|
|---|---|---|
| Minimum Deposit | $0 | $200 |
| Average Spread EUR/USD - Standard | 1.00 | 0.62 |
| All-in Cost EUR/USD - Active | 1.00 | 0.62 |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | Yes | 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 it comes to comparing XTB and IC Markets, both platforms offer forex trading through CFDs or spot contracts, providing flexibility to traders. XTB takes the lead with a vast array of 7,184 tradeable symbols, significantly outnumbering IC Markets' offering of 3,583. In the realm of forex pairs, XTB also edges out IC Markets with 71 pairs compared to IC Markets' 61. A notable difference is found in stock trading, where XTB provides access to exchange-traded securities on both U.S. and international exchanges, allowing traders to purchase shares like Apple directly. In contrast, IC Markets limits this to international exchanges only. For traders interested in copy trading, IC Markets offers this feature, whereas XTB does not.
In terms of cryptocurrency, neither broker allows the purchase of actual cryptocurrencies, but both offer crypto derivatives for those looking to speculate on digital assets. XTB's diverse range of investment options earns it a high rating of 5 stars for its range of investments from ForexBrokers.com, placing it 14th out of 62 brokers in this category. IC Markets isn't far behind, achieving 4.5 stars and ranking 25th. Overall, XTB provides a broader range of investment opportunities, particularly appealing to those interested in a wider variety of tradeable symbols and direct access to a wider span of stock markets.
| Feature |
XTB
|
IC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 7184 | 3583 |
| Forex Pairs (Total) | 71 | 61 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | 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.
When comparing XTB with IC Markets for trading platforms and tools, both brokers offer strong options, but some differences can guide your choice. XTB provides a proprietary platform, which is a plus for those looking for a unique experience tailored by the broker. Both platforms offer a Windows desktop version and web-based trading, allowing flexibility in how you access your trades. However, IC Markets stands out by supporting popular platforms like MetaTrader 4 and MetaTrader 5, while XTB does not. Paper trading capabilities are offered by both, helping newcomers practice before diving into live trading.
For advanced charting tools, XTB offers 32 drawing tools compared to IC Markets' 15, giving XTB users more options for technical analysis. However, IC Markets edges ahead with features like copy trading and ZuluTrade, which XTB lacks. Despite these differences, XTB is rated higher for trading platforms and tools with a 4.5-star rating and a top 10 ranking by ForexBrokers.com, compared to IC Markets' 4-star rating and a ranking of 17. Depending on your trading needs, each broker offers unique advantages that may cater to different trading styles and preferences.
| Feature |
XTB
|
IC Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 39 | 30 |
| Charting - Drawing Tools (Total) | 32 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 8 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading, both XTB and IC Markets offer convenient apps that cater to iPhone and Android users. Each platform ensures you can stay updated with stock and forex price alerts, and both allow for creating watchlists with real-time quotes. However, if watchlist symbol syncing between your mobile app and online account is essential, neither platform currently supports this feature. Both brokers enable users to draw trendlines on charts and view various time frames such as daily, weekly, or intraday, with drawings automatically saved for future access.
In terms of charting capabilities, XTB surpasses IC Markets, offering 39 technical studies compared to IC Markets' 30. This might be a factor to consider if in-depth technical analysis is important for your trading strategy. While both apps have strong offerings, XTB receives a slightly higher rating, with 4.5 stars compared to IC Markets’ 4 stars, according to ForexBrokers.com. XTB also holds a higher ranking, positioned at #8 among 62 brokers, while IC Markets is ranked #22. These distinctions may guide you in choosing the app that best suits your trading needs.
| Feature |
XTB
|
IC Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 39 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of XTB and IC Markets, both brokers excel in providing daily market commentary and forex news from prestigious sources like Bloomberg and Reuters. They also offer sentiment-based trading tools, allowing traders to see the ratio of long or short positions across different currency pairs. Furthermore, both brokers supply an economic calendar to keep traders updated with global news events. Where they differ significantly is in their approach to additional research tools. While IC Markets integrates technical analysis tools from Autochartist and Trading Central to aid traders in their decision-making, XTB does not offer these specific tools. However, these distinctions do not detract from XTB's overall research quality, as evidenced by its higher research rating of 5 stars compared to IC Markets' 4 stars.
XTB's focus on broad market insights and commentary positions it well above IC Markets, securing the 7th spot for research among 62 brokers evaluated by ForexBrokers.com, whereas IC Markets trails at 22nd place. Despite both brokers lacking offerings from TipRanks and Acuity Trading, XTB's comprehensive resources for trade sentiment and market news contribute to its superior research standing. This higher ranking reflects its commitment to delivering enriched market insights to its users, making it a preferred choice for those who prioritize in-depth research and analysis in their trading activities.
| Feature |
XTB
|
IC Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | No | 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.
Both XTB and IC Markets cater to beginners by offering an impressive range of educational resources. If you're just starting out in forex or CFD trading, you can access over 10 educational pieces like articles, videos, and archived webinars with each broker. Online educational webinars are available at least once a month, along with a searchable archive of past webinars for convenient access. Each broker offers a library of more than 10 beginner-focused videos to help you get a solid footing in trading.
While both brokers offer advanced educational videos for more seasoned traders, IC Markets stands out with an additional resource—a comprehensive investor dictionary with definitions for over 50 trading terms, which can be particularly helpful for new investors navigating complex jargon. Despite IC Markets offering this extra resource, XTB receives a higher education rating of 5 stars compared to IC Markets' 4 stars. According to ForexBrokers.com, XTB holds the 11th spot while IC Markets ranks 16th out of 62 brokers in the Education category.
| Feature |
XTB
|
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 XTB is better than IC Markets. XTB finished with an overall rank of #7, while IC Markets finished with an overall rank of #20.
As a trusted multi-asset broker, XTB offers outstanding customer service, a wide variety of forex and CFDs, and an excellent overall trading experience. Its xStation 5 trading platform is well-designed and packed with innovative features, and XTB’s offers comprehensive educational content and market research.
| Feature |
XTB
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IC Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 96 | 84 |
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Both XTB and IC Markets do not allow the purchase of actual delivered cryptocurrency, but they do offer options for trading cryptocurrency derivatives.
Both XTB and IC Markets facilitate the deposit and withdrawal of account funds with PayPal, Skrill, Visa or Mastercard, and bank wires, although neither online 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 | XTB | IC Markets | |
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| Trust Score | 96 | 84 | |
| Winner | check_circle | ||
| Review | XTB Review | IC Markets Review |
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| Regulation | XTB | IC Markets | |
|---|---|---|---|
| Trust Score | 96 | 84 | |
| Year Founded | 2002 | 2007 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 2 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 3 |
| Tier-1 Licenses (Highly Trusted) | XTB | IC Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | 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) | Yes | 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) | XTB | IC Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | XTB | IC Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 7184 | 3583 | |
| Forex Pairs (Total) | 71 | 61 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | 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 | XTB | IC Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.00 | 0.62 | |
| All-in Cost EUR/USD - Active | 1.00 | 0.62 | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | XTB | IC Markets | |
|---|---|---|---|
| Minimum Deposit | $0 | $200 | |
| PayPal (Deposit/Withdraw) | Yes | 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 | XTB | IC Markets | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | XTB | IC Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 8 | 7 | |
| Charting - Indicators / Studies (Total) | 39 | 30 | |
| Charting - Drawing Tools (Total) | 32 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | XTB | IC Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 39 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | XTB | IC Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | XTB | 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 | XTB | 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 | XTB Review | IC Markets Review |
| Overall | XTB | IC Markets | |
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| Trust Score | 96 | 84 | |
| Winner | check_circle | ||
| Review | XTB Review | IC Markets Review |
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