IC (Formerly IC Markets) vs XM

IC (Formerly IC Markets) is the stronger pick for low-cost forex and CFD trading, with an average 0.1-pip EUR/USD spread on its Raw Spread account. XM offers more account types, broader education, stronger platform features, and more helpful support coverage.

Both brokers provide MT4 and MT5, demo accounts, forex and CFD trading, mobile apps, and multiple funding methods. Neither is a listed company or offers interest on idle cash.

XM suits beginners and investors who want small deposits and real-share access in some regions. IC suits active traders who want cTrader, TradingView, low commissions, fast funding, and flexible algo trading.

Regulation & Trust

IC and XM are closely matched on trust, but their protections depend heavily on the account entity. Both are long-running global brokers with CySEC-regulated European operations, segregated-client-money rules, and negative balance protection in many regions.

IC has held ASIC authorization since 2009 and CySEC authorization since 2018. XM has operated for more than 15 years and serves over 20 million traders, while its CySEC entity offers Investor Compensation Fund cover up to €20,000.

We checked the legal entity details before opening accounts and found that XM’s setup needs more care: clients can be routed to entities in Cyprus, Dubai, Kenya, Mauritius, Seychelles, Belize, or South Africa. Using a VPN or registering while travelling can show a different regional site, so confirming the entity, URL, and licence before funding is important.

IC also has offshore entities, including Seychelles, where leverage can reach 1:5000 but legal safeguards are lighter. Its record includes €200,000 and €50,000 CySEC fines in 2024 over leverage, margin-protection, execution and cost issues, while UK regulators have flagged unauthorized IC-related sites and clone domains.

IC’s major 2026 brand change to IC, from IC Markets, also makes careful domain checks essential. XM has expanded its group structure, with UK and Australian onboarding now handled through wider Trading.com infrastructure; this is another reason to verify the exact firm behind the account.

Accounts & Banking

XM has the more complete account and banking package. Its $5 minimum deposit, Micro, Standard, Ultra Low, and region-dependent Shares accounts make it easier to start small or select an account for a specific goal.

We opened XM live and demo accounts, entered the sign-up details, and followed the KYC steps through the client area. The demo came with $10,000 in virtual funds, while identity approval normally took up to 24 hours.

IC keeps the choice simpler with Standard and Raw Spread accounts, plus a 30-day demo account. We created live and demo profiles and found that account creation took only minutes, although final approval could take up to a day depending on the time zone.

XM’s payment screen showed cards, bank transfers, Skrill, Neteller, SticPay, and local methods that changed by country. We traced the withdrawal flow in the dashboard and found that verified requests are processed within 24 hours, with 92% automatically approved; some local methods were not available under every entity.

IC supports funding in 10 base currencies, reducing conversion costs where the bank and trading account match. We funded using card and e-wallet routes and saw deposits appear almost instantly, but IC withdrawals to cards and e-wallets took 3–5 business days to arrive after same-day processing.

IC does not charge for most card or e-wallet withdrawals, yet an international bank wire costs about $20. XM usually covers deposit and withdrawal costs, though wire transfers below $200 may still bring provider charges.

IC upgraded its high-volume offer with Raw Trader Plus in 2023, adding rebates, VPS access, and priority support. XM has also expanded its loyalty features through XM Traders Club, with tiered rewards for eligible regions, but promotions should never outweigh execution and withdrawal reliability.

Assets & Markets

XM provides the broader overall market range, especially because some clients can use its Shares Account to buy real company shares. It offers more than 1,400 instruments, including 55+ forex pairs, 1,200+ stock CFDs, 30+ index CFDs, metals, energies, commodities, and selected crypto CFDs.

We searched the market lists by asset class and found XM’s thematic indices for areas such as artificial intelligence and electric vehicles. However, bonds and ETFs were absent, and the real-shares account is not available in every location.

IC focuses more strongly on leveraged forex and CFDs, with over 2,250 instruments. Its list includes 75 currency pairs, 25 indices, 2,100+ stock CFDs, 28 commodities, nine bonds, four ETF CFDs, and 13 cryptocurrencies.

We set up small orders using IC’s 0.01-lot minimum and checked contract sizing through the platform. This made risk control more manageable, while the maximum 100-lot size and high offshore leverage better fit experienced traders than cautious beginners.

Neither broker pays interest on uninvested cash. XM is more useful for a trader who wants a possible route to direct shares, while IC has the larger CFD catalogue and adds bond and ETF exposure through CFDs.

Fees & Costs

IC is the lower-cost choice for frequent forex trading. Its Raw Spread account produced an average EUR/USD spread of 0.1 pips, with a $3.50 commission per lot per side, and it does not charge an inactivity fee.

We recorded the EUR/USD pricing on IC’s Raw Spread setup and used a standard 1-lot trade for a like-for-like cost check. At $10 per pip, the 0.1-pip spread cost was about $1, and the $7 round-trip commission brought the estimated total to $8.

XM’s commission-free Ultra Low account starts from a 0.8-pip spread. On the same 1-lot EUR/USD example, the spread cost is about $8 and there is no commission, so the example total is also about $8, though the wider spread can be less attractive when market conditions change or when entering trades often.

XM charges a $5 inactivity fee after a dormant period, and conversion costs can apply when using an unsupported account currency. IC has no dormant-account charge, but its bank-wire withdrawal fee of around $20 is a clear downside for traders who withdraw by transfer.

We also compared the non-trading charge pages against the payment journey. XM’s fee-free withdrawals were easier on small accounts, but its low minimum deposit does not remove the risk of a later inactivity fee.

Platforms & Tools

XM offers the stronger all-round platform experience, combining MT4, MT5, WebTrader, its mobile app, TradingView Charts, XM AI, live notifications, advanced watchlists, and market insights. These upgrades give it a more modern in-app workflow than a basic MetaTrader-only setup.

We placed more than 30 trades across forex, indices, and commodities using XM’s MT4, MT5, WebTrader, and mobile app. Orders remained stable across the platforms, while MT4 offered 60+ analysis tools and MT5 offered 80+ tools, extra order types, and wider asset support.

XM’s mobile app was easy to navigate and includes copy trading, but it does not carry every advanced charting feature available on desktop. Trading Central content also was not fully integrated into the app, which made switching between research and trade entry less smooth than it could be.

IC offers MT4, MT5, cTrader, and TradingView, giving active traders more third-party choice. We used cTrader’s charting and copy-trading functions and opened its Autochartist and Trading Central links; the clean layout was easier to work with than MetaTrader’s older interface.

IC has no in-house platform, but its cTrader and TradingView access are valuable for technical traders. MetaTrader still supports customization, back-testing, expert advisors, and automation, although its dated menus can slow down a new user looking for basic settings.

XM provides a VPS for automated trading when balance and volume conditions are met, otherwise it costs $28 per month. IC’s Raw Trader Plus programme also includes VPS access for qualifying high-volume clients, making both brokers workable for automated strategies.

Research

XM has the more complete research service for most traders. Its daily market analysis, technical and fundamental reports, economic calendar, Trading Central tools, and clear market commentary give beginners a solid place to build a routine.

We read XM’s daily analysis and used the economic calendar before placing event-sensitive trades. The reports explained likely market drivers clearly, but Trading Central was easier to access on desktop than on the mobile app.

IC is more focused on technical trade ideas. We filtered the Market Buzz feed by symbol, reviewed sentiment data for specific assets, and used Autochartist and Trading Central ideas from cTrader to move from an idea to an order ticket quickly.

IC’s blog and video content cover technical and fundamental views, but the depth is lighter than specialist research brokers. Its market resources are better for traders who already know what they are looking for than for someone building a broad view of global markets.

Education

XM is far better for learning. It runs live webinars seven days a week, uses 77 presenters, and supports more than 20 languages, alongside Tradepedia videos, podcasts, community content, and live education sessions.

We worked through more than 20 education and research resources, including webinar material, videos, market lessons, and calendar tools. The range was strong, although structured courses, progress tracking, quizzes, and a glossary would make it easier to follow a complete learning path.

IC covers trading basics, risk management, and market analysis through tutorials, webinars, videos, and its blog. The material was useful once found, but we had to look beyond the account dashboard because much of it was buried in blog pages rather than placed inside the trading area.

That navigation problem is meaningful for new traders. IC’s education works as a reference library, while XM is a more active learning service with regular sessions and more formats.

Customer Support

XM offers the stronger support setup, with 24/7 help by live chat, email, and phone in more than 30 languages. This is especially useful for traders who need help outside the standard forex week or who prefer local-language assistance.

We contacted XM support through live chat about account differences and used email for a leverage question. Chat replies were prompt and clear, while the email answer gave workable step-by-step instructions; response depth could still differ by language and region.

IC provides live chat, email, phone support, and multilingual help 24/5. We used live chat for simple account and banking questions and received quick answers, while email replies normally arrived within a few hours.

IC’s support agents did not always resolve technical questions on the first contact. We had to send follow-up emails to technical support for complex issues, and the lack of a call-back feature may frustrate traders who need urgent phone help.

XM has strengthened its community contact through its Singapore-based Telegram presence. Still, neither broker can remove all support friction when the question involves an offshore entity, verification review, or payment-provider delay.

Is IC (Formerly IC Markets) or XM Better For Beginners?

XM is better for beginners. A $5 minimum deposit, $10,000 demo account, Micro account, round-the-clock support, and much deeper education reduce the barriers to learning.

IC’s 30-day demo, 0.01-lot trading, and responsive chat are also useful. However, XM’s webinars, multilingual help, and clearer range of account sizes give a new trader more support before risking meaningful capital.

Is IC (Formerly IC Markets) or XM Better For Experienced Traders?

IC is better for experienced traders who want a specialist trading setup. It supports cTrader, TradingView, MT4, MT5, algorithmic trading, back-testing, copy trading, and VPS benefits through Raw Trader Plus for eligible high-volume clients.

XM is also capable, with MT5, MultiTerminal, VPS access, and newer XM AI and TradingView Chart tools. Yet IC’s tighter raw pricing, cTrader workflow, and broad platform choice give active technical traders more freedom to build and run complex strategies.

Is IC (Formerly IC Markets) or XM Better For Short-term Traders?

IC is better for short-term traders. The Raw Spread account’s average 0.1-pip EUR/USD spread, $3.50-per-side commission, no inactivity fee, and support for scalping and automated strategies suit frequent trade entry and exit.

XM’s Ultra Low account is commission-free and can start from 0.8 pips, while its execution and MetaTrader support remain competitive. IC is more attractive when spreads and platform speed matter every day, especially for traders using cTrader or TradingView.

Is IC (Formerly IC Markets) or XM Better For Long-Term Traders?

XM is the better long-term option because its Shares Account can provide access to real company shares in eligible regions. It also has a wider account range and lower starting deposit for gradually building a portfolio.

IC has more total CFD instruments and no inactivity fee, but it does not offer direct stocks or real ETFs. Neither broker pays interest on idle cash, and XM’s inactivity fee means long-term traders should log in and remain aware of dormant-account rules.

Is IC (Formerly IC Markets) or XM Better For Trading On Mobile?

XM is better for mobile trading. Its app combines trade management with copy trading, advanced watchlists, notifications, market insights, TradingView Charts, and XM AI features in a more unified experience.

IC supports strong mobile versions of MT4, MT5, cTrader, and TradingView. Its platform choice is excellent, but XM is simpler for traders who want one main app for market monitoring, account management, and placing trades.

Why Pick IC (Formerly IC Markets) Over XM?

Pick IC for low-cost, high-frequency forex and CFD trading. Its 0.1-pip average EUR/USD Raw Spread pricing, cTrader access, TradingView connection, larger CFD list, no inactivity fee, and high-volume Raw Trader Plus benefits make it a strong active-trader broker.

It is also a good fit if you use expert advisors, advanced charts, or short-term strategies. The main trade-off is less education, fewer account types, no direct shares, and slower card or e-wallet withdrawal arrival times of three to five business days.

Why Pick XM Over IC (Formerly IC Markets)?

Pick XM for beginner-friendly account access and a more complete service package. Its $5 entry point, Micro account, real-share availability in some regions, stronger education, 24/7 multilingual support, and modern app tools make it easier to get started and keep learning.

XM is also a better fit if you value rapid withdrawal processing, with verified requests handled within 24 hours, and want in-app features such as XM AI, notifications, and copy trading. Check the legal entity before depositing, as available products, payment methods, and investor protections can differ by region.