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 Name||XM Group||IC Markets|
|Regulation||ASIC, FCA, CySEC, IFSC||FSA, ASIC & CySec|
|Tradable Assets||Forex, CFD||Cryptocurrency, CFD, Forex & Futures|
|Min Trade||$0||0.01 Lots|
|Platforms||MT4, MT5||MT4, MT5|
|Deposit||Free of charge||Free of charge|
|Withdrawals||Free of charge||Free of charge|
Top findings from the XM Group vs. IC Markets review:
- XM Group is a MetaTrader-only broker with beginner-friendly services.
- IC Markets is a versatile online broker with excellent tools for both inexperienced and professional traders.
- 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.
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.
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.
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 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.
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:
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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.