Head-to-head · 2026
XM vs IC Markets
IC Markets edges it overall with 4.4 versus 4.1, winning 4 of six categories. Both brokers cost about the same to trade on EUR/USD.
IC Markets
Scalpers and algo traders who want raw spreads
4.4/5
Visit IC MarketsFull review| Feature | XM | IC Markets |
|---|---|---|
| Overall score | 4.1 | 4.4 |
| EUR/USD standard spread | 1.6 pips | 0.8 pips |
| Raw account | 0.1 + $7 | 0.1 + $7 |
| Cheapest cost per lot | $8.0 | $8.0 |
| Minimum deposit | $5 | $200 |
| Tier-1 regulators | CySEC, ASIC | ASIC, CySEC |
| All regulators | CySEC, ASIC, DFSA, FSCA, FSC (Belize) | ASIC, CySEC, FSA (Seychelles), SCB (Bahamas) |
| Founded | 2009 | 2007 |
| Currency pairs | 55+ | 61+ |
| Max leverage | 1:1000 (1:30 EU retail) | 1:500 (1:30 ASIC/EU retail) |
| Platforms | MT4, MT5, XM App | MT4, MT5, cTrader, TradingView |
| Copy trading | Yes | Yes |
| Swap-free accounts | Yes | Yes |
| US clients | No | No |
Highlighted cells mark the better value where one is clearly better. Data checked October 2026.
Category by category
Costs: XM vs IC Markets
Both brokers cost about the same to trade on EUR/USD. On its standard, commission-free account XM quotes around 1.6 pips on EUR/USD. On its standard, commission-free account IC Markets quotes around 0.8 pips on EUR/USD. Both offer raw-spread pricing: XM at $7 and IC Markets at $7 per round-turn lot.
Regulation and safety
XM is regulated by CySEC, ASIC, DFSA, FSCA, FSC (Belize). IC Markets is regulated by ASIC, CySEC, FSA (Seychelles), SCB (Bahamas). IC Markets scores higher for trust in our methodology. Both are available in European Union, Australia, South Africa and Most other countries.
Platforms
Both support MT4, MT5. XM offers MT4, MT5, XM App; IC Markets offers MT4, MT5, cTrader, TradingView.
Which should you choose?
Choose XM if…
- very low $5 minimum deposit and micro accounts
- excellent free education, webinars and daily analysis
- mT4 and MT5 on every account type
Choose IC Markets if…
- raw spreads averaging around 0.1 pips on EUR/USD
- mT4, MT5, cTrader and TradingView all supported
- fast execution suited to scalping and expert advisors
Frequently asked questions
Is XM better than IC Markets?
IC Markets edges it overall with 4.4 versus 4.1, winning 4 of six categories. Both brokers cost about the same to trade on EUR/USD.
Which is safer, XM or IC Markets?
IC Markets scores higher for trust (4.4 vs 4.2), with tier-1 regulation from ASIC, CySEC.
Which has the lower minimum deposit?
XM has the lower minimum at $5, compared with $200.
Do XM and IC Markets both offer MetaTrader?
XM: MT4, MT5. IC Markets: MT4, MT5.
Risk warning: CFDs and leveraged forex are complex instruments and come with a high risk of losing money rapidly. Between roughly 60% and 89% of retail investor accounts lose money when trading CFDs, depending on the provider. Consider whether you understand how they work and can afford to lose your money. Read the full risk warning.