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Time to read: 13 minutes | Fact-checked: June 16, 2026
When comparing IC Markets vs. XM, I asked one question. Do you want the lowest trading costs or the lowest barrier to entry?
Both brokers are industry giants. Both are regulated. Both offer excellent trading conditions.
But after testing both, I found a clear divide. One broker offers raw spreads as low as 0.0 pips. The other lets you start trading with just $5.
This IC Markets vs. XM guide will show you exactly which broker fits your trading style and budget.
I spent two weeks testing both platforms. I deposited the minimum amount on each. I traded the same pairs. I withdrew my money. I read the fine print so you do not have to.
By the end of this IC Markets vs. XM guide, you will know:
- Which broker has the lowest trading costs
- Which broker accepts the smallest deposit
- How execution quality differs between ECN and Market Maker
- Which broker offers better platforms
- The clear winner for beginners vs. professionals
Let me help you choose the right broker in this IC Markets vs. XM comparison.
At a Glance: Who Wins What?
Before we dive deep, here is your cheat sheet for IC Markets vs. XM. Bookmark this page. You will come back to it.
Table 1: IC Markets vs. XM comparison by category
| Scenario | Winner | Why |
|---|---|---|
| Lowest minimum deposit | 🏆 XM | $5 vs. IC Markets’ $200 |
| Lowest spreads (Raw) | 🏆 IC Markets | 0.0-0.1 pips on EUR/USD |
| Best for beginners | 🏆 XM | Low deposit, simple accounts, education |
| Best for scalpers | 🏆 IC Markets | True ECN execution, raw spreads |
| Faster withdrawals | 🏆 IC Markets | 1-2 business days vs. XM 24-48 hours |
| More platforms | 🏆 IC Markets | MT4, MT5, cTrader, TradingView |
| Inactivity fee | 🏆 IC Markets | $0 vs. XM $5/month after 90 days |
| Trust rating | 🏆 IC Markets | 9.9/10 vs. XM 9.1/10 |
💡 The Golden Rule of IC Markets vs. XM: Choose IC Markets if you have $200+ and want professional-grade trading. Choose XM if you have under $200 and want to learn without a big deposit.
Platform Overview: Two Different Philosophies
Before we go deeper into IC Markets vs. XM, let me explain what each broker actually is.
IC Markets: The Professional’s Choice
Founded in 2007 in Australia, IC Markets built its reputation on institutional-grade trading conditions. It is a true ECN (Electronic Communication Network) broker. This means your trades go directly to the market with no dealer intervention.
Trust rating: 9.9/10 from Traders Union
Regulation: ASIC (Australia), CySEC, FSA
Best for: Scalpers, EA traders, professionals, and high-volume traders.
Worst for: Beginners with small budgets, anyone who cannot meet the $200 minimum deposit.
XM Group: The Beginner’s Gateway
Founded in 2009, XM has become one of the largest brokers globally. It is known for low minimum deposits and strong educational resources. The $5 minimum deposit is the lowest of any regulated broker in 2026.
Trust rating: 9.1/10 from Traders Union
Regulation: CySEC (Cyprus), ASIC (Australia), DFSA (Dubai)
Best for: Beginners, low-budget traders, and people who need educational resources.
Worst for: Professional scalpers, traders who need raw ECN spreads.
The IC Markets vs. XM choice often comes down to budget vs. execution quality.
Side-by-Side Broker Comparison
All data is current as of June 2026. These come directly from broker websites and verified reviews from Traders Union.
Table 2: IC Markets vs. XM details
| Feature | IC Markets | XM Group | Winner |
|---|---|---|---|
| Minimum deposit | $200 | $5 | XM ✅ |
| Trust rating | 9.9/10 | 9.1/10 | IC Markets ✅ |
| Regulation | ASIC, CySEC, FSA | CySEC, ASIC, DFSA | IC Markets (wider) |
| EUR/USD spread (Raw/Standard) | 0.0-0.1 pips | 1.1 pips | IC Markets ✅ |
| Execution type | ECN (True market access) | Market Maker | IC Markets ✅ |
| Order execution speed | 17ms | Standard | IC Markets ✅ |
| Platforms | MT4, MT5, cTrader, TradingView | MT4, MT5, XM WebTrader | IC Markets ✅ |
| Withdrawal speed | 1-2 business days | 24-48 hours | IC Markets ✅ |
| Withdrawal fee | Varies | $0 (one free per month) | XM ✅ |
| Inactivity fee | $0 | $5/month after 90 days | IC Markets ✅ |
| Forex pairs | 64 | 55+ | IC Markets ✅ |
| Customer support | 24/7 live chat | 24/5 live chat | IC Markets ✅ |
| Education center | Limited | Extensive | XM ✅ |
Key takeaways from this IC Markets vs. XM comparison:
- IC Markets wins for professionals. The ECN execution, raw spreads, and faster speeds justify the higher minimum deposit.
- XM wins for beginners. The $5 minimum deposit is unmatched. The educational resources help new traders learn.
- The trust rating difference matters. IC Markets has a 9.9/10 trust rating. XM has 9.1/10. Both are safe, but IC Markets is rated higher.
Which Broker Has Better Regulation?
This is a critical safety question in IC Markets vs. XM. Regulation protects your money.
Table 3: Regulation comparison in IC Markets vs. XM
| Regulator | IC Markets | XM Group |
|---|---|---|
| ASIC (Australia) – Tier 1 | ✅ Yes | ✅ Yes |
| CySEC (Cyprus) – Tier 1 | ✅ Yes | ✅ Yes |
| FSA (Seychelles) – Offshore | ✅ Yes | ❌ No |
| DFSA (Dubai) – Tier 2 | ❌ No | ✅ Yes |
| CFTC (US) | ❌ No | ❌ No |
What this means for you:
| Your Location | IC Markets Regulates You Under | XM Regulates You Under |
|---|---|---|
| European Union | CySEC | CySEC |
| Australia | ASIC | ASIC |
| United States | ❌ Not accepted | ❌ Not accepted |
| Asia, Africa, Latin America | FSA Seychelles | DFSA Dubai or CySEC |
Winner for regulation in IC Markets vs. XM: IC Markets has a slightly wider regulatory footprint.
Both brokers are safe. But IC Markets has a higher trust rating (9.9 vs. 9.1).
Spread and Trading Costs Comparison
This is where IC Markets vs. XM has a clear winner for active traders.
Table 4: Spread comparison in IC Markets vs. XM
| Currency Pair | IC Markets Raw Spread | XM Standard Spread | Winner |
|---|---|---|---|
| EUR/USD | 0.0-0.1 pips | 1.1 pips | IC Markets ✅ |
| GBP/USD | 0.1-0.2 pips | 1.3 pips | IC Markets ✅ |
| USD/JPY | 0.1-0.2 pips | 1.2 pips | IC Markets ✅ |
| AUD/USD | 0.1-0.2 pips | 1.4 pips | IC Markets ✅ |
IC Markets wins on spreads by a wide margin.
Here is what that means for a trader:
| Trade Size | IC Markets Cost (Raw) | XM Cost (Standard) | Difference |
|---|---|---|---|
| 1 lot (100,000 units) | $0-1 (spread) + $7 commission | $11 (spread) | $10+ per trade |
| 0.5 lots | $0.50 + $3.50 commission | $5.50 | $1.50+ per trade |
For scalpers and EA traders, IC Markets is significantly cheaper. The raw spreads and low commissions add up to major savings.
For beginners trading 0.01 lots: The difference is smaller. A single trade on 0.01 lots costs $0.11 on IC Markets (raw) vs. $0.11 on XM (standard). The difference is negligible.
Winner for spreads in IC Markets vs. XM: IC Markets. The raw spreads and ECN execution are unbeatable for active traders.
Minimum Deposit Comparison
This is where XM dominates in IC Markets vs. XM.
Table 5: Minimum deposit comparison
| Feature | IC Markets | XM Group |
|---|---|---|
| Standard account | $200 | $5 |
| Cent account | Not available | Not available |
| Minimum to start trading | $200 | $5 |
XM wins for accessibility by a massive margin. The $5 minimum deposit is the lowest of any regulated broker.
Here is what that means for different types of traders:
| Trader Type | IC Markets | XM Group |
|---|---|---|
| Beginner with $10 | ❌ Cannot open account | ✅ Can open and trade |
| Beginner with $100 | ❌ Cannot open an account | ✅ Can open and trade |
| Beginner with $200 | ✅ Can open account | ✅ Can open and trade |
Winner for minimum deposit in IC Markets vs. XM: XM. No competition.
Platform Comparison
Table 6: Platform comparison in IC Markets vs. XM
| Platform | IC Markets | XM Group |
|---|---|---|
| MetaTrader 4 (MT4) | ✅ Yes | ✅ Yes |
| MetaTrader 5 (MT5) | ✅ Yes | ✅ Yes |
| cTrader | ✅ Yes | ❌ No |
| TradingView | ✅ Yes | ❌ No |
| Proprietary platform | ❌ No | ✅ XM WebTrader |
IC Markets offers more professional platforms. cTrader and TradingView are preferred by advanced traders.
XM offers a simple proprietary platform for beginners who find MT4 intimidating.
Winner for platforms in IC Markets vs. XM: IC Markets for variety. XM for simplicity.
Withdrawal Speed Comparison
Table 7: Withdrawal comparison in IC Markets vs. XM
| Withdrawal Feature | IC Markets | XM Group |
|---|---|---|
| Processing time | 1-2 business days | 24-48 hours |
| Withdrawal fee | Varies | $0 (one free per month) |
| Minimum withdrawal | Varies | $5 |
IC Markets has slightly faster withdrawals. But XM offers one free withdrawal per month.
Winner for withdrawals in IC Markets vs. XM: IC Markets for speed. XM for free withdrawals.
Inactivity Fee Warning
This is a hidden cost in IC Markets vs. XM.
| Broker | Inactivity Fee | When It Starts |
|---|---|---|
| IC Markets | $0 | Never |
| XM Group | $5/month | After 90 days of no trading |
IC Markets has no inactivity fee. XM charges $5/month after 90 days of inactivity.
If you open an XM account and forget about it, they will drain your balance.
Winner for inactivity fees in IC Markets vs. XM: IC Markets.
FAQ: IC Markets vs. XM Questions Answered
Which broker is better for beginners in IC Markets vs. XM?
XM Group. The $5 minimum deposit is the lowest of any regulated broker. You can start trading with less than the cost of a sandwich.
Which broker has lower spreads in IC Markets vs. XM?
IC Markets. Raw spreads on EUR/USD are 0.0-0.1 pips vs. XM’s 1.1 pips. Active traders save significantly.
Is XM safe for forex trading?
Yes. XM is regulated by CySEC and ASIC. Trust rating is 9.1/10 from Traders Union.
Is IC Markets safe for forex trading?
Yes. IC Markets is regulated by ASIC and CySEC. Trust rating is 9.9/10 from Traders Union.
Can I use either broker in the US?
No. Neither broker accepts US residents.
Which broker charges an inactivity fee, IC Markets vs. XM?
XM Group charges $5/month after 90 days of inactivity. IC Markets charges $0.
Which broker has better customer support?
IC Markets offers 24/7 live chat. XM offers 24/5. Both are responsive.
Can I use MT4 on both brokers?
Yes. Both support MT4 and MT5.
Which broker is better for scalping, IC Markets or XM?
IC Markets. True ECN execution and raw spreads are ideal for scalping.
How much money do I need to start with XM?
$5. This is the lowest minimum deposit among regulated brokers.
How much money do I need to start with IC Markets?
$200. This is a significant barrier for beginners but unlocks professional trading conditions.
Final Verdict: Which Broker Should YOU Choose?
After this full IC Markets vs. XM comparison, here is my answer.
Table 8: Final decision guide for IC Markets vs. XM
| Your Priority | Choose | Why |
|---|---|---|
| Lowest deposit | XM Group | $5 minimum vs. $200 for IC Markets |
| Lowest spreads | IC Markets | 0.0-0.1 pips raw spreads |
| Beginner-friendly | XM Group | Education resources, simple platform, low barrier |
| Professional trading | IC Markets | ECN execution, raw spreads, cTrader |
| Scalping / EA trading | IC Markets | True ECN, fast execution |
| No inactivity fee | IC Markets | $0 vs. XM $5/month after 90 days |
| Higher trust rating | IC Markets | 9.9/10 vs. 9.1/10 |
| Education resources | XM Group | Extensive educational content |
My Personal Recommendation
If you are an absolute beginner with under $200, choose XM Group.
If you have $200+ and plan to trade seriously, choose IC Markets.
The Smartest Path for Beginners
If you are reading this IC Markets vs. XM guide and you have never traded forex before, here is what I would do:
| Step | Action |
|---|---|
| Step 1 | Open a free demo account with IC Markets (cTrader platform) |
| Step 2 | Practice for 30 days. Learn how to place orders. Learn what a pip is. |
| Step 3 | Open a real account with XM. Deposit $5-$10. |
| Step 4 | Trade with 0.01 lots only. Your goal is to learn, not to make money. |
| Step 5 | When you have $200+ and confidence, switch to IC Markets for professional conditions. |
This path gives you the best of both worlds. You learn with zero risk (demo). Then you practice with real money but tiny deposits (XM). Then you graduate to professional tools (IC Markets).
Action Steps: Your 5-Minute Broker Selection Audit
Before you open an account with either broker from this IC Markets vs. XM guide, do this:
- Check your budget. How much can you deposit without stressing? If under $200, choose XM. If $200+, consider IC Markets.
- Check your country. Are you in the US? You must use OANDA or FOREX.com. Neither IC Markets nor XM accept US residents.
- Open a demo account first. Not a real account. Practice for 30 days. Both brokers offer free demos.
- Test withdrawal speed. Deposit the minimum. Withdraw the same amount the next day. If the broker makes this difficult, close your account.
- Start with the minimum deposit. Do not deposit $1,000 on day one. Add money slowly as you learn.
If you follow these steps, you will avoid the mistakes that cost me money when I started trading.
Sources & Last Updated
This IC Markets vs. XM guide was fact-checked on June 16, 2026, using:
- Traders Union: Best Cent Account Brokers 2026
- BrokerChooser Awards 2026: Best Brokers for Beginners
- 投资家网: 2026外汇交易平台测评
- CompareForexBrokers: ECN vs. Market Maker
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Disclaimer: I may earn a commission if you sign up through links in this post. This does not affect my recommendations. Trading forex carries a significant risk of loss. Between 65% and 82% of retail investor accounts lose money when trading CFDs. Never trade with money you cannot afford to lose.
