XM vs IC Markets
XM scores higher overall (4.6 vs 4.6), but the better choice depends on where you live and how you trade. 186 countries can open an account with both.
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IC Markets
Raw spreads, MetaTrader, cTrader and TradingView in one account (now branded IC).
Side by side
| XM | IC Markets | |
|---|---|---|
| Overall score | 4.6 / 5 | 4.6 / 5 |
| Founded | 2009 | 2007 |
| Listing | Private (Trading Point group) | Private |
| CFDs | Yes | Yes |
| Minimum deposit | $5 | From $0 (varies by entity) |
| Platforms | MetaTrader 4, MetaTrader 5, XM app | MetaTrader 4, MetaTrader 5, cTrader, TradingView |
| Main regulators | CySEC, DFSA (Dubai), FSC (Belize) | ASIC (Australia), CySEC, FSA (Seychelles) |
| Countries accepted | 187 of 197 | 189 of 197 |
| Best for | MetaTrader users with small starting balances | Cost-sensitive and algorithmic traders |
Category by category
| Category | XM | IC Markets |
|---|---|---|
| Regulation & safety | 4.5 | 4.5 |
| Trading costs | 4.6 | 4.9 |
| Platforms & tools | 4.7 | 4.8 |
| Range of markets | 4.6 | 4.4 |
| Ease of use | 4.9 | 4.3 |
Availability
Both brokers accept residents of 186 countries. Only XM is available in 1, and only IC Markets in 3. Check your country before comparing anything else: the best broker is one that will open an account for you.
Our verdict
Choose XM if you are looking for metaTrader users with small starting balances. Choose IC Markets if you are looking for cost-sensitive and algorithmic traders.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail investor accounts lose money when trading CFDs. Consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Each broker publishes its own current loss percentage on its website.