IC Markets vs XM
Compare IC Markets and XM across account entities, regulation, editorial scores, user ratings, costs, platforms and markets. Review the entity, regulation, costs and account terms that would apply before opening an account.
Comparison data checked 26 August 2026
Comparison summary
Start with the major differences, then review the detailed sections below. A higher score or lower displayed cost does not establish suitability for every trader.
| Field | IC Markets | XM |
|---|---|---|
| Comparison summary | ||
| Editorial score | 9.6 / 10 | 9.2 / 10 |
| User rating | No user ratings yet | No user ratings yet |
| Regulatory status | Regulated | Regulated |
| Relevant entity | Raw Trading Ltd | XM Global Limited |
| Minimum deposit | $200 | $5 |
| Typical spread | 0.1 pips (Raw Spread) for EUR/USD | Approx. 0.8 pips for EUR/USD |
| Platforms | MetaTrader 4MetaTrader 5cTraderTradingView | MetaTrader 4MetaTrader 5Proprietary platform |
| Markets | 2,250+ instruments across 7 categories | 1,400+ instruments across 7 categories |
| Maximum leverage | 1:30 (varies by entity) | 1:30 |
| Complaint cases | 0 published cases | 0 published cases |
| Regulation and account entities | ||
| Country account entity | Raw Trading Ltd | XM Global Limited |
| Regulatory status | Regulated | Regulated |
| Regulator | Australian Securities and Investments Commission | Cyprus Securities and Exchange Commission |
| Licence type | Tier 1 financial-services licence | Tier 1 financial-services licence |
| Licence number | AFSL 335692 | 120/10 |
| Record status | Not confirmed | Not confirmed |
| Jurisdiction | Australia | Cyprus |
| Client-money rules | Confirmed | Confirmed |
| Negative balance protection | Limited | Available |
| Compensation arrangement | Potentially eligible | Potentially eligible |
| Complaint route | Authority or dispute route | Authority or dispute route |
| Official warnings | 0 active or relevant notices | 0 active or relevant notices |
| Last verified | 26 August 2026 | 26 August 2026 |
| Editorial scores and user ratings | ||
| Overall editorial score | 9.6 / 10 | 9.2 / 10 |
| Regulation and safety | 9.6 / 10 | 9.5 / 10 |
| Trading costs | 9.8 / 10 | 9.4 / 10 |
| Platforms and tools | 9.8 / 10 | 9.1 / 10 |
| Markets and products | 9.4 / 10 | 9.0 / 10 |
| Accounts and accessibility | Not available | Not available |
| Deposits and withdrawals | Not available | Not available |
| Support and education | 9.2 / 10 | 8.8 / 10 |
| Transparency and history | Not available | Not available |
| User rating | No user ratings yet | No user ratings yet |
| Eligible ratings | 0 | 0 |
| Verified experiences | 0 | 0 |
| Editorial review updated | 26 August 2026 | 26 August 2026 |
| Trading costs | ||
| Account used | Standard | Standard |
| Instrument | EUR/USD | EUR/USD |
| Spread type | Typical | Typical |
| Spread | 0.1 pips (Raw Spread) | Approx. 0.8 pips |
| Commission | $3.50 per side / $7 round turn (Raw Spread MetaTrader) | $0 on Standard and Ultra Low accounts |
| Estimated round-turn cost | Approx. 0.8 pips under the broker's published assumptions | Approx. 0.8 pips under the broker's published assumptions |
| Overnight financing long | Both: swaps charged; swap-free accounts available | Both: swaps apply on applicable instruments/accounts; swap-free conditions available |
| Overnight financing short | Both: swaps charged; swap-free accounts available | Both: swaps apply on applicable instruments/accounts; swap-free conditions available |
| Currency conversion | Conversion at applicable exchange rate/charges; no fixed percentage published | Not confirmed |
| Deposit fee | Not confirmed | Not confirmed |
| Withdrawal fee | None; third-party/bank charges may apply | Not confirmed |
| Inactivity fee | None on Global; EU: 10 account-currency units/month after 6 months inactivity | $10/month after 90 days inactivity |
| Data checked | 26 August 2026 | 26 August 2026 |
| Accounts and accessibility | ||
| Relevant account entity | Raw Trading Ltd | XM Global Limited |
| Account types | StandardRaw SpreadcTrader Raw SpreadIslamic/Swap-Free | StandardUltra LowSharesIslamicDemo |
| Minimum deposit | $200 | $5 |
| Base currencies | USDAUDEURGBPSGDNZDJPYCHFHKDCAD | USDEURGBPJPY |
| Demo account | Available | Available |
| Islamic or swap-free | Available | Available |
| Professional account | Eligibility applies | Eligibility applies |
| Cent account | Not available | Not available |
| Raw-spread account | Available | Not available |
| Application time | Usually minutes to a few hours | Approx. 5 minutes |
| Country availability | Not confirmed | Not confirmed |
| Client classifications | RetailProfessional | RetailProfessional |
| Trading platforms and tools | ||
| Desktop platforms | MetaTrader 4MetaTrader 5cTraderTradingView | MetaTrader 4MetaTrader 5Proprietary platform |
| Web platform | Available | Available |
| Mobile apps | Both | Both proprietary and third-party |
| MetaTrader 4 | Available | Available |
| MetaTrader 5 | Available | Available |
| cTrader | Available | Not available |
| TradingView | Integration | Not available |
| Proprietary platform | IC Markets Global mobile app / IC app | Yes, XM App |
| Automated trading | Supported | Supported |
| Copy trading | Not available | Yes, XM Copy Trading |
| API access | Yes, cTrader FIX API | Not available |
| VPS | Available | Available |
| One-click trading | Not confirmed | Not confirmed |
| Advanced order types | Market, limit, stop, stop-limit, stop-loss, take-profit, trailing stop | Market, limit, stop, stop-loss, take-profit, trailing stop |
| Markets and instruments | ||
| Forex | Available | Available |
| Metals | Not listed | Available |
| Indices | Available | Available |
| Commodities | Available | Available |
| Share CFDs | Available | Available |
| Cryptocurrency CFDs | Available | Available |
| ETFs | Not listed | Available |
| Bonds | Available | Not listed |
| Futures | Available | Not listed |
| Options | Not confirmed | Not confirmed |
| Total | 2,250+ reported instruments | 1,400+ reported instruments |
| Availability note | Varies by platform, account and entity | Varies by platform, account and entity |
| Trading conditions | ||
| Maximum leverage | 1:30 for Raw Trading Ltd | 1:30 for XM Global Limited |
| Margin-call level | Not confirmed | Not confirmed |
| Stop-out level | Not confirmed | Not confirmed |
| Minimum trade size | 0.01 lots | 0.01 lots |
| Maximum trade size | Not confirmed | Not confirmed |
| Scalping | Not confirmed | Not confirmed |
| Hedging | Not confirmed | Not confirmed |
| Expert advisers | Allowed | Allowed |
| News trading | Not confirmed | Not confirmed |
| Guaranteed stops | Not confirmed | Not confirmed |
| Negative balance protection | Conditional | Available |
| Execution model | Market execution | Market maker / principal |
| Trading hours | Varies by instrument | Varies by instrument |
| Deposits and withdrawals | ||
| Deposit methods | Credit/debit card, PayPal, Neteller, Skrill, UnionPay, bank wire, Bpay, broker-to-broker, POLi, Rapidpay, Klarna, cryptocurrency, local internet banking | Visa, Mastercard, bank transfer, electronic payment providers and local payment methods |
| Withdrawal methods | Credit/debit card, bank wire, PayPal, Neteller, Skrill, plus applicable original/local payment methods | Credit/debit card, bank transfer, electronic wallets and supported local payment methods |
| Minimum deposit | $200 | $5 |
| Minimum withdrawal | No minimum | $5 |
| Deposit processing | Instant for cards, PayPal, Neteller, Skrill, UnionPay and several local methods; bank wire 2-5 business days | Instant for most electronic methods; bank transfer typically 2-5 business days |
| Withdrawal processing | Same-day processing before cutoff; cards typically 3-5 business days; international wire up to 14 days | Instant/same-day processing where automatically approved; bank wire and cards typically 2-5 business days |
| Broker deposit fee | Not confirmed | Not confirmed |
| Broker withdrawal fee | None; third-party/bank charges may apply | Not confirmed |
| Third-party fees | May apply | May apply |
| Local payment methods | Bpay; POLi; Thai Internet Banking; Vietnamese Internet Banking; UnionPay; Rapidpay; Klarna | Yes, multiple region-specific electronic and local payment methods |
| Name matching | Not confirmed | Not confirmed |
| Verification before withdrawal | May be required | May be required |
| Funding data checked | 26 August 2026 | 26 August 2026 |
| Support, research and education | ||
| Support channels | Live chat, email, phone | Live chat, email, Help Centre |
| Support hours | 24/7 | 24/7 |
| Weekend support | Available | Available |
| Supported languages | English, Arabic, Chinese, French, German, Indonesian, Italian, Korean, Portuguese, Spanish, Thai, Vietnamese and others | 30+ languages |
| Local number | Not confirmed | Not confirmed |
| Account manager | Not confirmed | Not confirmed |
| Market analysis | Extensive: Trading Central, Autochartist, IC Insights/TipRanks, market analysis and daily forecasts | Extensive: news and analysis, analytical tools, market insights and forex calculators |
| Economic calendar | Not confirmed | Not confirmed |
| Trading signals | Not confirmed | Not confirmed |
| Webinars | Available | Available |
| Courses and guides | Extensive: webinars, educational articles, video/Web TV, trading guides, tutorials | Extensive: Learning Center, live education, webinars, courses, tutorials and educational videos |
| Beginner education | Not confirmed | Not confirmed |
| Support score | 9.3 / 10 | 8.9 / 10 |
| User reviews and complaints | ||
| User rating | No user ratings yet | No user ratings yet |
| Eligible ratings | 0 | 0 |
| Published reviews | 0 | 0 |
| Verified experiences | 0 | 0 |
| Published complaints | 0 | 0 |
| Open complaints | 0 | 0 |
| Broker responses | 0 | 0 |
| Response rate | Not confirmed | Not confirmed |
| Resolved cases | 0 | 0 |
| Common review topics | Not confirmed | Not confirmed |
| Common complaint topics | Not confirmed | Not confirmed |
| Company and transparency | ||
| Brand | IC Markets | XM |
| Established | 2007 | 2009 |
| Headquarters | Mahé, Seychelles | Limassol, Cyprus |
| Parent company | Independent | Trading Point Group |
| Legal entities | 1 recorded entity | 1 recorded entity |
| Publicly listed | No | No |
| Bank ownership | Not confirmed | Not confirmed |
| Financial reporting | Not confirmed | Not confirmed |
| Client count | Not confirmed | Not confirmed |
| Reported trading volume | Not confirmed | Not confirmed |
| Website | icmarkets.com | xm.com |
| Profile updated | 26 August 2026 | 26 August 2026 |
Category leader: highest or lowest qualifying value under the displayed criterion. A missing value is not treated as better or worse than a reported value.
Which broker may suit which trader?
Use conditional, evidence-based summaries rather than naming one overall winner.
- IC Markets has the lower displayed estimated cost under the selected EUR/USD, Standard and intraday assumptions.
- IC Markets has the higher regulation-and-safety editorial score, although the applicable protection still depends on the account entity.
- IC Markets is the selected option offering cTrader.
- IC Markets is the selected option offering TradingView.
- XM is the selected option offering Proprietary platform.
- XM has the lower confirmed minimum deposit for the selected account.
Confirm the legal entity, regulator, full pricing schedule and account agreement before opening or funding an account.