Compare IC Markets vs XM


Online brokers compared for fees, trading platforms, safety and more. See how IC Markets stacks up against XM!

IC Markets vs XM
overall rating
4.4
4.4
overall pros
  • Low forex fees
  • Easy and fast account opening
  • Free deposit and withdrawal
  • Low CFD and withdrawal fees
  • Easy and fast account opening
  • Great educational tools
overall cons
  • No investor protection
  • No negative account balance protection
  • Limited number of available CFDs
  • Only CFDs, forex, cryptos for Europeans
  • Average forex fees
  • Inactivity fee
fees
4.3
  • Low trading fees
  • Low non-trading fees
  • Low forex fees
  • High financing rate for CFDs
3.8
  • Low CFD fees
  • No withdrawal fee
  • Inactivity fee
  • Average FX fees
account opening
5.0
  • Fast
  • Fully digital
  • Low minimum deposit
5.0
  • Fast
  • Fully digital
  • Low minimum deposit
deposit and withdrawal
4.9
  • Credit/Debit card available
  • Free withdrawal
  • No deposit fee
5.0
  • Credit/Debit card available
  • Free withdrawal
  • No deposit fee
  • Free wire withdrawal above $200
web trading platform
2.8
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Order confirmation
  • No two-step (safer) login
  • No price alerts
  • Poor design
2.8
  • Clear fee report
  • Good customizability (for charts, workspace)
  • No price alerts
  • Outdated design
mobile trading platform
3.8
  • User-friendly
  • Good search function
  • Price alerts
  • No two-step (safer) login
  • No Touch/Face ID login
  • No order confirmation
3.8
  • User-friendly
  • Good search function
  • Price alerts
  • No Touch/Face ID login
  • No order confirmation
desktop trading platform
3.3
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Price alerts
  • No two-step (safer) login
  • Poor design
3.3
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Price alerts
  • Outdated design
  • Search function could be improved
markets and products
1.7
  • Forex
  • CFD
  • Crypto
2.9
  • Stock
  • Forex
  • CFD
  • Crypto
research
3.8
  • Trading ideas
  • Quality news flow
  • User-friendly
  • No fundamental data available
3.8
  • Trading ideas
  • Quality news flow
  • User-friendly
  • No fundamental data available
customer service
3.6
  • Phone support
  • Live chat
  • Fast response time
  • Slow and irrelevant live chat
3.5
  • Phone support
  • Live chat
  • Fast response time
  • No 24/7 phone support
education
4.5
  • Demo account
  • Trading platform tutorial
  • Educational videos
4.5
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • Majority of clients belong to a top-tier financial authority
  • In operation for a long time
  • No investor protection
  • No negative balance protection
  • Does not hold a banking license
  • Negative balance protection
  • Regulated by the top-tier ASIC
  • Does not hold a banking license
  • Not listed on stock exchange
  • Financial information is not publicly available
recommended for Forex traders who value easy account opening and free deposit/withdrawal options Forex and CFD traders who prefer MetaTrader platforms and seek low trading fees
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