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 online brokers IC Markets and Xtrade, it's clear that IC Markets stands out significantly in terms of commissions and fees. IC Markets is highly competitive, offering some of the lowest trading costs available, even rivaling top-tier brokers like IG and CMC Markets. IC Markets provides three account options with transparent fee structures: the commission-free Standard account, and the Raw Spread and cTrader Raw Spread accounts that include commission fees. Users can choose between the cTrader platform for lower commissions at $3 per side per 100,000 units, or the MetaTrader platform, which charges $3.5 per side. Furthermore, IC Markets has been celebrated for its cost-effectiveness, earning a five-star rating and being ranked fifth out of 62 brokers by ForexBrokers.com in the Commissions & Fees category.
On the other hand, Xtrade fails to match IC Markets' strong performance in this area. With no available average spread data and less favorable ratings, Xtrade offers a stark contrast in value. Xtrade received a modest 2.5-star rating out of five for its commissions and fees, placing it at the bottom of the same list, ranking 62nd out of the 62 brokers reviewed by ForexBrokers.com.
Overall, for those seeking an online broker with competitive fees and a strong reputation, IC Markets clearly outshines Xtrade. With various account types catering to different trading styles, significant discounts for active traders, and consistently low spreads, IC Markets solidifies its place as a preferred choice for 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 comparing the range of investments offered by IC Markets and Xtrade, IC Markets stands out with a significantly larger selection of tradeable symbols. IC Markets provides access to 3,583 tradeable symbols, whereas Xtrade offers a smaller portfolio with 482 symbols. For forex traders, IC Markets offers 61 tradeable forex pairs compared to Xtrade's 56 pairs. While both brokers provide forex trading through CFDs and spot contracts, only IC Markets gives you the chance to trade exchange-traded securities on international exchanges, allowing you to invest in companies like Vodafone on the London Stock Exchange. Neither platform allows for the purchase of U.S. exchange-traded securities like Apple shares.
Both IC Markets and Xtrade support trading in cryptocurrency derivatives but do not offer the ability to buy actual cryptocurrency. Furthermore, IC Markets provides the added benefit of copy trading, an option that Xtrade does not offer. These differences in their offerings are reflected in their ratings for the range of investments; IC Markets scores higher with 4.5 stars versus Xtrade's 3.5 stars. According to ForexBrokers.com, IC Markets is ranked 25th out of 62 brokers for Range of Investments, while Xtrade lags behind at 49th. This comparison highlights IC Markets as a more comprehensive option for investors seeking a broad array of trading 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 offered by IC Markets and Xtrade, both brokers provide simulated trading with free virtual demo accounts. IC Markets does not offer a proprietary platform, opting instead to provide popular third-party platforms like MetaTrader 4 and 5, which cater well to experienced traders. Xtrade, on the other hand, offers a proprietary platform for users looking for an in-house solution. IC Markets supports trading on a Windows-based desktop download platform, unlike Xtrade, which focuses on their web-based platform. Both brokers allow trading directly from stock charts, but IC Markets has a distinct advantage with additional features like copy trading through options such as ZuluTrade.
Charting capabilities and customization are key differentiators, with IC Markets offering 15 drawing tools compared to Xtrade's more extensive set of 100. For watch lists, Xtrade provides 9 columns, slightly outmatching IC Markets' 7. IC Markets is rated 4 out of 5 stars for trading platforms and tools, higher than Xtrade’s 3.5-star rating. This is further emphasized by IC Markets' better ranking of 17th place out of 62 brokers in this category on ForexBrokers.com, while Xtrade is placed at 58th. Overall, IC Markets seems to offer a more versatile suite, appealing to a range of trading needs and preferences.
| 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.
Both IC Markets and Xtrade provide mobile trading apps compatible with iPhone and Android devices, catering to traders who want to manage their portfolios on the go. However, IC Markets offers more advanced features compared to Xtrade. For instance, IC Markets supports stock and forex price alerts, a functionality not available with Xtrade. When it comes to charting capabilities, IC Markets provides up to 30 technical studies and options to draw trendlines, view multiple time frames, and auto-save drawings—features where Xtrade falls short. Users can also create a watchlist with real-time quotes using IC Markets' app, a feature not supported by Xtrade.
Despite both platforms sharing a four-star rating for their mobile trading apps, IC Markets ranks higher at #22 compared to Xtrade’s #53 among 62 brokers reviewed by ForexBrokers.com. While both apps do not offer watchlist symbol syncing between the mobile app and online account, IC Markets stands out for its comprehensive charting tools and real-time features making it a preferred choice for traders seeking a more versatile mobile trading experience.
| 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.
When comparing the market research offerings of IC Markets and Xtrade, both brokers provide daily market commentary and access to forex news from prominent sources like Bloomberg, Reuters, and Dow Jones, ensuring traders stay informed about key financial events. However, IC Markets stands out with additional tools from Autochartist and Trading Central, offering traders enhanced technical and fundamental analysis opportunities. This is complemented by a sentiment-based trading tool, exclusive to IC Markets, which gives insights into position trends across various currency pairs or instruments, further aiding trading decisions.
Both brokers offer an economic calendar that highlights current and upcoming global news events, which is crucial for planning trades around economic events. Despite these similarities, IC Markets edges ahead with a higher research rating of 4 stars compared to Xtrade's 3.5 stars. Additionally, IC Markets is ranked #22 by ForexBrokers.com in the Research category, significantly higher than Xtrade’s #52 ranking. This suggests that IC Markets may offer a slightly more comprehensive market research suite to its users.
| 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.
When comparing IC Markets and Xtrade for educational resources aimed at beginners, IC Markets stands out as a more comprehensive choice. Both brokers offer over 10 educational pieces focusing on forex or CFDs, like articles and videos. However, IC Markets goes a step further by providing monthly webinars and a searchable archive of past sessions, essential tools for deepening a trader's understanding. On the other hand, Xtrade does not offer regular webinars or an archive, potentially leaving new traders without access to valuable interactions and learning opportunities.
For beginner traders, IC Markets provides a wealth of resources, including over 10 educational videos tailored specifically for those new to trading, as well as advanced videos for more experienced traders. Xtrade, however, lacks the same depth, especially in beginner-friendly video content. Both brokers offer an investor dictionary with a comprehensive range of terms, helping to demystify financing jargon. In terms of overall educational quality, IC Markets earns a higher rating, scoring 4 stars, whereas Xtrade receives 3.5 stars. According to ForexBrokers.com rankings, IC Markets is positioned significantly better at #16 compared to Xtrade's placing at #46 out of 62 brokers.
| 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 62 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 #59.
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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