brokeRadar
Interactive Comparison Tool

XM vs IC Markets (2026): Which Broker Is Better?

Compare fees, spreads, minimum deposits, platforms and regulatory information side by side. Conditions vary by country and legal entity.

Data last verified 2026-10-31Sources and verificationHow we compare brokers

Quick verdict

XM has the higher Brokeradar score

XM leads this comparison with an editorial score of 4.6/5. IC Markets has the lowest recorded entry deposit at No fixed minimum, while IC Markets offers the broadest platform selection in our current dataset. The right choice still depends on the entity available in your country and the account type you use.

Comparing 2 brokers

XM
Editorial score
★ 4.6 / 5
Min Deposit
$5
Spreads From
0.8 pips
Max Leverage
Up to 1:1000
Regulation
CySEC, FSC Belize, ASIC, DFSA UAE, FSCA South Africa, FSA Seychelles, FSC Mauritius, CMA Kenya
Platforms
MT4, MT5, XM App
Islamic Accounts
Yes, Swap-Free
Established Year
2009
Data last verified
2026-10-31
Read ReviewOpen Account
IC Markets
Editorial score
★ 4.4 / 5
Min Deposit
No fixed minimum
Spreads From
0.0 pips
Max Leverage
Up to 1:5000 (entity and equity dependent)
Regulation
ASIC, CySEC, FSA Seychelles, SCB Bahamas, CMA Kenya
Platforms
MT4, MT5, cTrader, TradingView
Islamic Accounts
Yes, Swap-Free
Established Year
2007
Data last verified
2026-11-02
Read ReviewOpen Account

XM vs IC Markets: key differences

Calculated from the recorded data for each broker. The account type and legal entity you are onboarded by can change these figures.

  • Lower minimum deposit

    Advantage: IC Markets

    XM
    $5
    IC Markets
    No fixed minimum

  • Higher maximum leverage

    Advantage: IC Markets

    XM
    Up to 1:1000
    IC Markets
    Up to 1:5000 (entity and equity dependent)

  • Platforms only one broker offers

    Platforms available at only one of the compared brokers.

    XM
    XM App
    IC Markets
    cTrader, TradingView

  • Licences only one broker holds

    Regulators that appear for only one of the compared brands.

    XM
    FSC Belize, DFSA UAE, FSCA South Africa, FSC Mauritius
    IC Markets
    SCB Bahamas

  • More account base currencies

    Advantage: IC Markets

    XM
    4
    IC Markets
    10

  • Inactivity fee

    No inactivity fee recorded at IC Markets.

    XM
    after 3 months
    IC Markets
    None published

XM vs IC Markets: fees and spreads

XM trading costs

Published spreads start from 0.8 pips. The minimum deposit recorded is $5. Raw and standard accounts can use different spread and commission models, so compare the account-level schedule before funding.

IC Markets trading costs

Published spreads start from 0.0 pips. The minimum deposit recorded is No fixed minimum. Raw and standard accounts can use different spread and commission models, so compare the account-level schedule before funding.

Regulation and country availability

A broker brand can serve customers through multiple legal entities. Licenses, leverage limits and compensation arrangements may therefore differ between two customers using the same brand.

XM

Licenses recorded: CySEC, FSC Belize, ASIC, DFSA UAE, FSCA South Africa, FSA Seychelles, FSC Mauritius, CMA Kenya.

Review XM safety details

IC Markets

Licenses recorded: ASIC, CySEC, FSA Seychelles, SCB Bahamas, CMA Kenya.

Review IC Markets safety details

Who should choose each broker?

Choose XM if…

  • ✓ Super low $5 minimum deposit
  • ✓ Excellent educational webinars
  • ✓ Huge array of deposit bonuses

Consider first: Doesn't offer cTrader or TradingView; Crypto CFDs availability is limited in EU.

Choose IC Markets if…

  • ✓ Raw pricing from 0.0 pips with clearly published commissions
  • ✓ MT4, MT5, cTrader and TradingView
  • ✓ Multiple regulated entities across Australia, Cyprus, Seychelles, the Bahamas and Kenya

Consider first: Highest leverage applies only to the offshore entity and falls as exposure increases; No statutory compensation scheme for most international clients.

Sources and verification

Figures on this page come from the Brokeradar dataset and should be verified against the official broker pages and regulator registers below before you fund an account. Entity, leverage and fee schedules change and vary by country.

How we compare brokers

Related reviews and guides