Home Brokers Comparison XM Group vs. IC Markets

XM Group vs. IC Markets

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XM Group and IC Markets are leading brokerage firms. XM is a MetaTrader broker with beginner-friendly platforms and tools. It has top-tier licenses from the ASIC, FCA, CySEC, and IFSC. XM provides leading educational content and market data. We recommend it for beginner traders who want access to straightforward tools and platforms. 

IC Markets is a leading forex broker with a versatile portfolio. It offers the MetaTrader suite and auto-trading services. IC Markets has many tools, including trading videos and educational articles. It is a top choice for traders of all levels of experience. 

This article discusses the strengths and weaknesses of XM Group and IC Markets. 

Broker NameXM GroupIC Markets
Year Founded20092007
RegulationASIC, FCA, CySEC, IFSCFSA, ASIC & CySec 
Tradable AssetsForex, CFDCryptocurrency, CFD, Forex & Futures 
Min Deposit$5-100$200
Min Trade$00.01 Lots 
PlatformsMT4, MT5MT4, MT5
DepositFree of chargeFree of charge
WithdrawalsFree of chargeFree of charge

Top findings from the XM Group vs. IC Markets review:  

  1. XM Group is a MetaTrader-only broker with beginner-friendly services. 
  1. IC Markets is a versatile online broker with excellent tools for both inexperienced and professional traders. 
  1. Both brokers offer a demo account to test their offering. 

XM Group is a good fit for new traders because of its customizable platforms and learning materials. We recommend IC Markets to traders at all levels who want access to valuable trading information. 

Level of experience  

XM provides access to the complete MetaTrader suite. It offers investor trading support and a virtual account. XM Group is a top choice for new investors as it has many learning materials. 

IC Markets offers valuable research and educational materials. It has webinars, investor dictionaries, and forex education. IC Markets provides access to trading ideas, which is why it’s a top choice for traders at all levels. 

Fees  

The minimum deposit fee at XM is between $5 and $100, depending on the funding method you opt for. IC Markets has a fixed minimum deposit of $200. Both brokers have an average EUR/USD spread of 0.8. 

Assets  

IC Markets has 61 forex currency pairs, while XM offers 57 pairs. IC Markets provides access to 3583 CFDs, while XM has 1372 available CFDs. 

Trading platform  

XM is a MetaTrader broker with access to the MT4 and MT5 suites. These are customizable and offer user-friendly features. XM has a useful research and learning center with articles and trading signals. It is an excellent choice for beginner traders. 

IC Markets offers the MetaTrader suite as its web and mobile platforms. Both are user-friendly and professional. IC Markets is a top choice for traders at all levels as it offers a dedicated learning center. 

Banking services  

Banking services are key for a good online trading experience. IC Markets has many funding options, including bank wire, credit/debit cards, PayPal and Skrill. XM Group offers bank wire, credit/debit cards, and Skrill. 

Final verdict  

XM Group and IC Markets are leading brokerage firms. Both have advantages and disadvantages depending on your trading style, experience, and goals. We recommend XM Group to beginner investors, as it offers useful learning tools. IC Markets is suitable for all traders, as it has both professional and beginner-friendly tools. 

XM compared to other brokers:

XM review


Methodology 

The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online providers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a providers’s platform. The rating scale was based on thousands of data points that have been weighted into the scoring system.

Providers were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online providers we reviewed.

Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.

Business24-7 maintains high editorial standards and provides the best advice and recommendations. The products and companies that we review may compensate us when you click on the links on this website. Click below to find out more about our review process and methodology.

Disclosure

All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

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Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.

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