Scores, winners and data below compare these brokers as CFD/FX brokers: leveraged trading on forex, indices, commodities and crypto. Scores, winners and data below compare these brokers as stock brokers: real shares and ETFs you own outright.
IC Markets
Regulated in your country IC Markets is allowed by ASIC to onboard clients residing in Australia.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
XM
Not regulated in your country XM does not accept residents in Australia because it is not regulated by ASIC.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Best for
What we compare A comparison of the kinds of traders IC Markets and XM are best suited to, based on what each one actually offers in Australia.IC Markets is better than XM for professional traders, while XM is better for long-term investors. Scalpers, swing traders and news traders can choose either IC Markets or XM.
| Overall score | IC Markets 84 Best not offered | XM 74 -10 73 |
|---|---|---|
| Day trading i | ||
| Long-term investing i | ||
| Professional traders i | ||
| High-volume traders i | ||
| Scalpers i | ||
| Swing traders i | ||
| News traders i | ||
| Algo traders i | ||
| Stock traders i | ||
| Crypto traders i | ||
| Futures traders i | ||
| Options traders i |
Regulation
What we compare A comparison between the financial authorities that supervise IC Markets and the ones that supervise XM.Only IC Markets is regulated in Australia, by ASIC. XM holds no licence in Australia and is regulated by CySEC.
| Section score | IC Markets 100 Best not offered | XM 90 -10 90 |
|---|---|---|
| Tier-1 regulators | ||
| ESMA (European Union) i | ||
| FCA (United Kingdom) i | ||
| ASIC (Australia) i | ||
| CFTC (United States) i | ||
| NFA (United States) i | ||
| SEC (United States) i | ||
| CIRO (Canada) i | ||
| MAS (Singapore) i | ||
| SFC (Hong Kong) i | ||
| JFSA (Japan) i | ||
| FINMA (Switzerland) i | ||
| Tier-2 regulators | ||
| FMA (New Zealand) i | ||
| CBR (Russia) i | ||
| FSCA (South Africa) i | ||
| DFSA (Dubai) i | ||
| CSRC (China) i | ||
| ISA (Israel) i | ||
| LFSA (Malaysia) i | ||
| JSC (Jordan) i | ||
| CMA (Kenya) i | ||
| Tier-3 regulators | ||
| FSA (Seychelles) i | ||
| MMA (Maldives) i | ||
| SCB (Bahamas) i | ||
| FSC (Mauritius) i | ||
| VFSC (Vanuatu) i | ||
| FSC (Belize) i | ||
| CIMA (Cayman Islands) i | ||
| SV FSA (Saint Vincent and the Grenadines) i | ||
| FSRC (St. Kitts & Nevis) i | ||
| BMA (Bermuda) i | ||
| BVI FSC (British Virgin Islands) i | ||
| EDR (External Dispute Resolution) i | ||
Safety
What we compare A comparison of the tools and services that IC Markets and XM have in place to protect your money in Australia.Both IC Markets and XM offer segregated client funds and two-factor authentication.
| Section score | IC Markets 65 not offered | XM 65 65 |
|---|---|---|
| Company info | ||
| Is it publicly traded i | ||
| Is it a bank i | ||
| Year founded i | 2007 | 2009 |
| Parent company i | International Capital Markets Pty Ltd | Trading Point Holdings |
| CEO i | Andrew Budzinski | Tasos Anastasiou |
| Money safety | ||
| Segregated client funds i | ||
| Two-factor authentication i | ||
| Investor compensation scheme i | ||
| Additional money insurance i | ||
| Partner bank i | Eurobank | N/A |
| Brand power | ||
| Number of customers worldwide i | 20,000,000 | |
| Annual revenue i | US$1,000,000,000 | |
| Monthly website search traffic i | 2.2M monthly visits | |
Costs
What we compare A comparison of what it costs to trade with IC Markets and with XM in Australia, both on each trade and on holding the account.IC Markets is better than XM for CFD/FX costs, because IC Markets is cheaper on EUR/USD, at US$8 per lot (against XM's US$20), has tighter S&P 500 CFD spreads, at 0.49 points (against XM's 0.6 points), and has tighter gold CFD spreads, at 0.08 points (against XM's 0.55 points). Neither IC Markets nor XM charges account maintenance fees or deposit fees.
Only XM can be assessed for real stock costs, since IC Markets is a CFD broker and does not offer real stocks.
| Section score | IC Markets 64 Best not offered | XM 26 -38 72 |
|---|---|---|
| Broker fees | ||
| Deposit fees i | ||
| Withdrawal fees i | ||
| Overnight fees i | ||
| Inactivity fees i | ||
| Currency conversion fees i | ||
| Discounts on volume i | ||
| Real time market data fee i | ||
| Dividend withholding i | ||
| Account opening fees i | ||
| Account maintenance fee i | ||
| Portfolio management fee i | ||
| Fees on CFDs | ||
| Forex commission per lot i | US$7 | |
| EUR/USD average standard spread i | ||
| EUR/USD average raw spread i | ||
| EUR/USD average fixed spread i | ||
| EUR/USD total cost per lot i | US$8 | US$20 |
| S&P 500 fees (CFD) i | 0.492 points | 0.6 points |
| Gold fees (CFD) i | 0.08 points | 0.55 points |
| Bitcoin fees (CFD) i | US$12.01 | US$40 |
| US stocks fees (CFD) i | US$0.02 | Free |
| Fees on stocks | ||
| Stock fee type i | Commission, Percentage | Commission, Percentage, Spread |
| US stocks fees (real) i | US$2.8 | |
| ETF fees (real) i | ||
| Management costs i | ||
| Connection costs i | ||
| Fees on futures | ||
| Futures fees per contract i | ||
| Platform fees i | ||
| Fees on options | ||
| Options fees per contract i | ||
| Event fees i | ||
| Fees on savings plans | ||
| IRA opening fee i | ||
| IRA maintenance fee i | ||
| 401k opening fee i | ||
| 401k maintenance fee i | ||
Available markets
What we compare A comparison of the markets and products you can trade with IC Markets and with XM in Australia, and of how many instruments each one gives access to.IC Markets and XM are equally good for CFD/FX markets, as IC Markets gives access to 2,250 tradable symbols (against XM's 1,400). On the other hand, XM lets you own stocks outright. Both IC Markets and XM offer CFDs on commodities, crypto, ETFs, forex, indices and stocks.
There is no like-for-like comparison for real stock markets, as IC Markets is a CFD broker and does not offer real stocks.
| Section score | IC Markets 75 not offered | XM 75 15 |
|---|---|---|
| Total tradable symbols i | 2,250 | 1,400 |
| Currency pairs i | ||
| Indices i | ||
| Commodities i | ||
| Stocks i | ||
| ETF i | ||
| Cryptocurrencies i | ||
| Bonds i | ||
| Interest rates i | ||
| Portfolios i | ||
| CFDs i | Commodities, Crypto, ETF, Forex, Indices, Stocks | Commodities, Crypto, ETF, Forex, Indices, Stocks |
| Futures i | ||
| Options i | ||
| Assets you can own i | Stocks |
Platform
What we compare A comparison of the trading platforms that IC Markets and XM make available to their clients in Australia.IC Markets is better than XM for platforms, since IC Markets offers cTrader, TradingView and Mirror Trader, which XM does not. Both IC Markets and XM offer MetaTrader 5 and MetaTrader 4.
XM and IC Markets cannot be compared for platforms, because XM is a broker offering both CFDs and stocks while IC Markets is a CFD broker.
| Section score | IC Markets 89 Best not offered | XM 63 -26 63 |
|---|---|---|
| Proprietary platform i | ||
| MetaTrader 4 i | ||
| MetaTrader 5 i | ||
| cTrader i | ||
| Social trading platform i | ||
| Copy trading platform i | ||
| ZuluTrade i | ||
| TradingView i | ||
| Duplitrade i | ||
| Mirror Trader i | ||
| NinjaTrader i | ||
| AutoChartist i | ||
| Real time pricing i | ||
| 5 digit pricing i | ||
| One-click trading i |
Mobile
What we compare A comparison of the mobile apps of IC Markets and XM in Australia, and of what each one lets you do from your phone.IC Markets and XM are close on mobile trading, as both offer a proprietary mobile app and the MetaTrader 5 app. IC Markets has a slight edge, as it offers the cTrader app.
XM and IC Markets cannot be compared for mobile trading, because XM is a broker offering both CFDs and stocks while IC Markets is a CFD broker.
| Section score | IC Markets 86 not offered | XM 86 86 |
|---|---|---|
| Proprietary app i | ||
| Social trading app i | ||
| Copy trading app i | ||
| MetaTrader 4 app i | ||
| MetaTrader 5 app i | ||
| cTrader app i | ||
| Mobile trading signals i | ||
| Mobile alerts i | ||
| Mobile charting tools i | ||
| Mobile drawing tools i | ||
| Mobile watchlist i | ||
| Smartwatch app i |
Trading features
What we compare A comparison of the trading tools and strategies that IC Markets and XM allow on their platforms in Australia.There is little between IC Markets and XM on CFD/FX trading features, as both offer negative balance protection and trailing stops. IC Markets goes a step further, as it executes orders faster, within 40 ms (against XM's 66 ms). The leverage shown for XM is set by its Belize entity and exceeds the retail limit in Australia (30:1 on major currency pairs).
XM and IC Markets cannot be compared for real stock trading features, because XM is a broker offering both CFDs and stocks while IC Markets is a CFD broker.
| Section score | IC Markets 87 not offered | XM 87 77 |
|---|---|---|
| Trade execution | ||
| Broker type i | Hybrid | Agency |
| Average execution time i | 40 ms | 66 ms |
| Slippage occurrence i | ||
| Requotes occurrence i | 0% | 0% |
| Tier-1 liquidity providers i | ||
| PFOF i | ||
| Leverage | ||
| Major FX pairs leverage i | 30:1 | 1000:1 |
| Minor/Exotic FX pairs leverage i | 20:1 | 1000:1 |
| Major indices leverage i | 20:1 | 500:1 |
| Minor indices leverage i | 10:1 | 250:1 |
| Gold leverage i | 20:1 | 1000:1 |
| Commodities leverage i | 10:1 | 400:1 |
| Equities leverage i | 5:1 | 20:1 |
| Cryptocurrency leverage i | 2:1 | 1000:1 |
| Risk management | ||
| Stop losses i | ||
| Take profits i | ||
| Limit orders i | ||
| Trailing stop i | ||
| Margin call i | ||
| OCO orders i | ||
| Guaranteed stop loss i | ||
| Negative balance protection i | ||
| Minimum trade size (FX) i | 0.01 lots | 0.01 lots |
| Minimum trade size (stocks) i | US$0 | US$0 |
| Fractional stocks i | ||
| Trading compliance | ||
| Scalping strategies allowed i | ||
| Hedging strategies allowed i | ||
| Automated trading strategy allowed i | ||
| EAs use allowed i | ||
| HFT strategy allowed i | ||
| VPS use allowed i | ||
| API use allowed i | ||
| Price scraping allowed i | ||
| FIFO rule applies i | ||
Account types
What we compare A comparison of the kinds of account you can open at IC Markets and at XM in Australia, and of who each one is meant for.IC Markets is better than XM for CFD/FX account types, given that IC Markets offers a professional traders account, an ECN account and an unlimited demo account, which XM does not. IC Markets and XM both offer a demo account and a corporate account.
XM and IC Markets cannot be compared for real stock account types, because XM is a broker offering both CFDs and stocks while IC Markets is a CFD broker.
| Section score | IC Markets 74 Best not offered | XM 60 -14 68 |
|---|---|---|
| Demo account i | ||
| Unlimited demo account i | ||
| Standard account i | ||
| Micro account i | ||
| Cent account i | ||
| Nano account i | ||
| Raw spread account i | ||
| ECN account i | ||
| Swap-free account i | ||
| Islamic account i | ||
| Professional traders account i | ||
| Fixed spread account i | ||
| Spread betting account i | ||
| Copy trading account i | ||
| Corporate account i | ||
| Managed account i | ||
| Stock investing account i | ||
| Margin investing account i | ||
| Savings account i | ||
| Retirement account i |
Account opening
What we compare A comparison of what it takes to open and fund an account with IC Markets and with XM in Australia.XM is better than IC Markets for account opening, since XM requires a lower minimum deposit, at US$5 (against IC Markets' US$200), credits deposits faster, within the same day (against IC Markets' 5 days), and pays out withdrawals faster, within 1 day (against IC Markets' 5 days). IC Markets and XM both offer credit cards and debit cards. XM holds no licence in Australia.
Only XM can be assessed for account opening, since IC Markets is a CFD broker and does not offer real stocks. XM holds no licence in Australia.
| Section score | IC Markets 85 -10 not offered | XM 95 Best 95 |
|---|---|---|
| Minimum deposit i | US$200 | US$5 |
| Minimum withdrawal i | US$0 | US$5 |
| Wire transfers i | ||
| Credit cards i | ||
| Debit cards i | ||
| eWallets i | PayPal, Neteller, Skrill | Neteller, Skrill |
| Local payment methods i | ||
| Account base currencies i | AUD, USD, EUR, CAD, GBP, SGD, NZD, JPY, HKD, CHF | AUD, CHF, EUR, GBP, HUF, PLN, RUB, SGD, USD, ZAR |
| Deposit waiting time i | up to 5 business days | Instant |
| Withdrawal waiting time i | up to 5 business days | up to 1 business days |
| Bonus program i |
Customer care
What we compare A comparison of the customer support of IC Markets and XM in Australia, in how it can be reached and how fast it answers.IC Markets is better than XM for customer care, since IC Markets offers priority support, which XM does not. IC Markets and XM both offer a dedicated account manager and phone support.
Only XM can be assessed for customer care, since IC Markets is a CFD broker and does not offer real stocks.
| Section score | IC Markets 92 Best not offered | XM 78 -14 78 |
|---|---|---|
| Number of languages supported i | 17 | 20 |
| Website languages i | Arabic, Bulgarian, Czech, German, English, French, Croatian, Indonesian, Italian, Korean, Malay, Portuguese, Russian, Spanish, Thai, Vietnamese, Chinese | Arabic, Czech, German, Greek, English, French, Hungarian, Indonesian, Italian, Korean, Malay, Polish, Portuguese, Russian, Spanish, Tagalog, Thai, Vietnamese, Chinese |
| Website available in English i | ||
| Customer support languages i | Arabic, Bulgarian, Czech, German, English, French, Croatian, Indonesian, Italian, Korean, Malay, Portuguese, Russian, Spanish, Thai, Vietnamese, Chinese | Arabic, Czech, German, Greek, English, French, Hindi, Hungarian, Indonesian, Italian, Korean, Malay, Polish, Portuguese, Russian, Spanish, Tagalog, Thai, Vietnamese, Chinese |
| Customer support in English i | ||
| Call back request i | ||
| Email support i | ||
| Phone support i | ||
| Live chat i | ||
| Priority customer support i | ||
| Dedicated account manager i | ||
| Cash sweep i | ||
| Stock lending i | ||
| Distributes proceeds i | ||
| Tax withholding agent i | ||
| Tax assistance i |
Learning
What we compare A comparison of the educational material that IC Markets and XM provide to their clients in Australia.IC Markets is better than XM for learning, since IC Markets offers professional reports, which XM does not. IC Markets and XM both offer education for advanced traders and webinars.
Only XM can be assessed for learning, since IC Markets is a CFD broker and does not offer real stocks.
| Section score | IC Markets 100 Best not offered | XM 88 -12 88 |
|---|---|---|
| Education | ||
| Education center i | ||
| Education for beginners i | ||
| Education for advanced traders i | ||
| Webinars i | ||
| Tutorials i | ||
| Glossary i | ||
| Research | ||
| Economic calendar i | ||
| Traders' sentiment i | ||
| Daily market commentary i | ||
| Daily trading ideas i | ||
| News via social media i | ||
| Professional reports i | ||
| Watchlist i | ||
IC Markets vs XM: which one should you choose?
IC Markets
CFD/FX Choose IC Markets if you want a CFD and forex broker regulated in Australia by ASIC, with cTrader, TradingView and a wide choice of markets.
Open Account CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
XM
CFD/FX Choose XM if you want an online CFD broker with a small minimum deposit, copy trading and API access and live in a country where it is licensed to operate.
Stocks Choose XM if you want a broker for securities investing with stocks to own and live in a country where it is licensed to operate.
Not licensed in Australia CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.Other popular comparisons
Below are other head-to-head comparisons that include IC Markets or XM, each scored with the same data and method as this page.
