IC Markets vs XM

IC Markets: why traders choose it

• Four account types: Raw Spread, cTrader Raw Spread, Standard and Swap Free
• Seven ways to trade, including cTrader, TradingView and the IC Social copy-trading app
• Product range covers forex, commodities, indices, bonds, crypto, stocks, 24-hour stock CFDs and futures CFDs
• Leverage is dynamic and can change at any time, which their own risk warning spells out
• 24/7 support

XM: why traders choose it

• Standard and Ultra Low accounts open from $5
• Ultra Low is the account XM points high-volume traders to, for lower spreads and swaps
• A separate Shares account for buying stock, from $10,000
• Bonuses on the Standard account, described by XM as boosting trading power
• Copy trading, trading competitions and a loyalty club run alongside the accounts

IC Markets pros

• One of the few brokers offering cTrader, TradingView and both MetaTrader versions side by side
• A dedicated swap-free account rather than a swap-free flag bolted onto another type
• The regulator and licence number are printed on every page

IC Markets cons

• The international site is the Seychelles entity; other IC Markets entities serve Australia and Europe with different terms
• Minimum deposit, spreads and commission were not on the pages we could reach; the account comparison sits behind the client area
• Not available to residents of the US, Canada, New Zealand, Iran or North Korea

XM pros

• One of the lowest entry points anywhere at $5
• The Ultra Low account gives a cheaper option without a commission model to learn
• MetaTrader 4 and 5 plus their own app, so nothing unfamiliar

XM cons

• The global site is the Belize entity; XM's European and Australian entities have different leverage caps and protections
• Spreads and leverage figures were not on the accounts page we read; they are in the account details after sign-up
• Bonuses come with their own terms, which are worth reading before taking one

About IC Markets

IC Markets trades under Raw Trading Ltd, a Seychelles securities dealer, on the international site. It is known for raw-spread pricing and for supporting more platforms than most brokers: MetaTrader 4 and 5, cTrader, TradingView, a web terminal and its own IC Social copy-trading app.

About XM

XM offers three accounts on its global site: Standard and Ultra Low, both from a $5 minimum, and a Shares account from $10,000. The global entity, XM Global Limited, is licensed by the Financial Services Commission of Belize.