IC Markets vs XM
Two brokers compared on spreads, platforms, regulation, and execution.
Last updated: March 21, 2026
Quick Verdict
XM wins this comparison — 4 out of 6 categories.
Our analysts reviewed both options across pricing, reputation, and trading conditions. XM came out ahead based on our scoring criteria. Read each category below for the full breakdown.
Side-by-Side Comparison
Customer Support & Reputation
IC Markets winsIC Markets has a slight edge in customer support and overall reputation. It holds an EntryLab rating of 4.70/10. XM scores 4.60/10 on our platform, which is respectable but trails behind.
IC Markets4.70
XM4.60Leverage & Instruments
XM winsXM offers greater trading power with maximum leverage of 1:1000 offshore / 1:30 EU & AU. This gives active traders more flexibility to size positions. IC Markets caps leverage at 1:500 offshore / 1:30 EU & AU, which may limit scalability for experienced traders looking for higher exposure.
IC Markets1:500 offshore / 1:30 EU & AUXM1:1000 offshore / 1:30 EU & AUDeposit & Withdrawal
XM winsIC Markets supports a wider range of deposit and withdrawal options. It accepts Bank Transfer, Visa/Mastercard, Skrill, Neteller, PayPal, Crypto, including cryptocurrency, giving traders more flexibility. XM offers Cards, Bank Transfer, Skrill, Neteller, SticPay, Crypto (USDT/USDC), which may not suit all traders.
IC Markets$200XM$5Platforms & Tools
Both brokers offer a similar platform suite, so neither has a clear advantage here. Traders using MT4 or MT5 will be equally well-served by either.
IC MarketsXMRegulation & Safety
XM winsWhen it comes to regulation, XM holds the edge. XM is regulated by CySEC 120/10, ASIC 443670, DFSA F003484, FSC Belize 000261/309, a top-tier authority, while IC Markets operates under ASIC AFSL 335692, CySEC 362/18, FSA Seychelles SD018. For traders who prioritise safety and fund protection, XM is the stronger choice in this category.
IC MarketsXMTrading Costs
IC Markets winsXM offers more competitive trading costs overall. With EUR/USD spreads from 0.6 pips (Standard) / 0.0 + $3.5 commission (Zero) and commissions of commission-free, it undercuts IC Markets, which charges spreads of 0.0 pips (Raw) / 0.6 pips (Standard) with commission-free commission. Cost-conscious traders will find XM more attractive.
IC Markets0.0 pips (Raw) / 0.6 pips (Standard)XM0.6 pips (Standard) / 0.0 + $3.5 commission (Zero)Account Types & Min Deposit
XM winsXM is the more accessible choice for traders getting started. With a minimum deposit of $5, it requires less capital to open an account than IC Markets, which requires $200. Lower barriers to entry make XM the winner in this category.
IC Markets$200XM$5Our Pick
XM Wins This Round
Based on our side-by-side analysis, XM edges ahead in this matchup. Get started today.
Visit XMReady to Choose?
Frequently Asked Questions
Is IC Markets better than XM?
Based on our analysis across 7 key categories, XM wins with a score of 4–2. However, the best broker for you depends on your specific trading style and priorities.
Which has lower spreads, IC Markets or XM?
XM offers lower trading costs. IC Markets spreads start from 0.0 pips (Raw) / 0.6 pips (Standard) while XM starts from 0.6 pips (Standard) / 0.0 + $3.5 commission (Zero).
Is IC Markets safer than XM?
XM is regulated by a higher-tier authority. IC Markets is regulated by ASIC AFSL 335692, CySEC 362/18, FSA Seychelles SD018, while XM is regulated by CySEC 120/10, ASIC 443670, DFSA F003484, FSC Belize 000261/309.
Can I use MT5 with both IC Markets and XM?
IC Markets supports MT4, MT5, cTrader and XM supports MT4, MT5, XM App. Check each broker's platform page for the latest availability.
Which has a lower minimum deposit, IC Markets or XM?
XM has the lower minimum deposit requirement. IC Markets requires $200 while XM requires $5.
Is IC Markets regulated?
Yes, IC Markets is regulated by ASIC AFSL 335692, CySEC 362/18, FSA Seychelles SD018. Regulation provides traders with a level of protection including segregated funds and dispute resolution mechanisms.
Which broker is better for beginners, IC Markets or XM?
For beginners, XM is generally the stronger choice due to its lower minimum deposit. However, both brokers offer standard tools suitable for newer traders.