The IC Markets vs XM: Which Is Better?
A side-by-side look at regulation, trading conditions, and fees for IC Markets and XM, pulled from the same data as their individual reviews.
Key Differences
- • IC Markets holds the higher overall rating: 9.6/10 vs 5.4/10 for XM.
- • XM has the lower minimum deposit: $5 vs $200 at IC Markets.
- • XM is regulated by more authorities: CySEC, DFSA, FSCA, FSC, FSA vs ASIC, CySEC, FSA, SCB for IC Markets.
- • Risk tier: IC Markets is Tier A, XM is Tier C.
Overview
Rating
9.6/10
5.4/10
Trustpilot
4.8/5 · 55,000+ reviews
2.7/5
WikiFX Score
High / Validated
Average / Active
Best For
Algorithmic trading, EAs & Scalping
Micro-accounts & Educational resources
Regulators
ASIC, CySEC, FSA, SCB
CySEC, DFSA, FSCA, FSC, FSA
Terms & Fees
Min Deposit
$200
$5
Max Leverage
1:5000
1:1000
Spreads From
0.02 Pips
0.8 Pips
Execution Model
ECN/STP (No Dealing Desk) — aggregates ~25 liquidity providers
Principal Market Maker (Dealing Desk elements)
Commission
Raw Account: $3.50 per lot per side ($7.00 round trip); Standard: $0
$0 on Standard/Micro/Ultra-Low; commission applies only on specialized Zero accounts ($3.50 per side)
Swap / Islamic
Highly competitive; Islamic (Swap-Free) accounts available for qualifying residents
Islamic accounts available seamlessly for clients in Islamic jurisdictions
Platforms
MT4, MT5, cTrader, TradingView
MT4, MT5, XM App
Crypto Deposits
Yes
No
Pros
What's good
- + Equinix NY4 integration for low-latency
- + Zero non-trading fees
- + Swap-free accounts available
- + Rich educational resources
- + Leverage stability during high-impact news
Cons
Watch out for
- – Stringent KYC/AML bottlenecks
- – No US/Canada/Japan clients
- – Aggressively widened spreads during volatility
- – Punitive inactivity fees
- – Withdrawal delays with local processors