| Feature | XM Trading | IC Markets |
|---|---|---|
| Year Founded | 2009 | 2007 |
| Regulation | ASIC, CySEC, DFSA, IFSC | ASIC, CySEC, FSA |
| Minimum Deposit | $5 | $200 |
| Maximum Leverage | Up to 1:888 | Up to 1:500 |
| Trading Platforms | MetaTrader 4, MetaTrader 5 | MetaTrader 4, MetaTrader 5, cTrader, TradingView |
| Account Types | Standard, Micro, Ultra-Low, Zero | Standard, Raw Spread (MetaTrader), Raw Spread (cTrader) |
| Spreads | Standard Account: Average 1.6 pips on EUR/USD | Standard Account: Average 0.62 pips on EUR/USD |
| Commission Fees | Zero Account: $3.50 per $100,000 traded | Raw Spread Account: $3.50 per lot per side |
| Tradable Instruments | 1,394 instruments, 55 forex pairs | 3,583 instruments, 61 forex pairs |
| Cryptocurrency Trading | Available via CFDs | Available via CFDs |
| Deposit & Withdrawal Methods | Visa, Mastercard, Bank Wire, Skrill, Neteller, China UnionPay, Sofort, MoneyGram, WebMoney, iDeal, Moneybookers, Western Union | Visa, Mastercard, Bank Wire, PayPal, Neteller, Skrill, UnionPay, Bpay, Poli, FasaPay, Rapid Pay, Klarna, Bitcoin Wallet |
| Inactivity Fee | $5 per month after 90 days of inactivity | No inactivity fee |
| Customer Support | 24/5 via live chat, email, phone | 24/7 via live chat, email, phone |
| Educational Resources | Webinars, video tutorials, trading courses, daily market analysis | Webinars, video tutorials, articles, platform tutorials |
| Research Tools | Daily market commentary, forex news, Trading Central, economic calendar | Daily market commentary, forex news, Autochartist, Trading Central, economic calendar |
| Mobile Trading Apps | MT4 and MT5 apps for iOS and Android | MT4, MT5, and cTrader apps for iOS and Android |
| Social/Copy Trading | Available via MT4/MT5 platforms | Available via ZuluTrade, Myfxbook AutoTrade, cTrader Copy |
| VPS Hosting | Available | Available |
| Bonuses/Promotions | Up to $5,000 forex bonus, up to 100% forex deposit bonus | Not offered |
| Order Execution Type | Market execution, No Dealing Desk (NDD) | ECN execution, No Dealing Desk (NDD) |
| Execution Speed | 1 millisecond | Under 1 millisecond |
| Slippage Control | Negative balance protection, No requotes | Negative balance protection, No requotes |
| Scalping Allowed | Yes | Yes |
| Hedging Allowed | Yes | Yes |
| Algo/Automated Trading | Supported on MT4/MT5 | Supported on MT4/MT5, cTrader |
| Available Base Currencies for Accounts | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR | USD, EUR, GBP, AUD, CAD, NZD, JPY, CHF, HKD, SGD |
| Micro Lot Trading | Yes (0.01 lots) | Yes (0.01 lots) |
| Maximum Open Positions | 200 positions | No limit |
| Margin Call Level | 50% | 100% |
| Stop-Out Level | 20% | 50% |
| Swap-Free (Islamic) Accounts | Available for Standard, Micro, and Ultra-Low accounts | Available for all account types |
| Spread Type | Fixed and variable spreads | Variable spreads only |
| Average Spread on EUR/USD (Raw Account) | 0.1 pips | 0.0 pips |
| Average Spread on EUR/USD (Standard Account) | 1.6 pips | 0.62 pips |
| Stock CFD Trading | Available | Available |
| Commodity Trading | Available | Available |
| Indices Trading | Available | Available |
| Bond Trading | Not available | Available |
| ETF Trading | Not available | Available |
| Cryptocurrency Pairs | Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash | Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, Dash, EOS |
| Deposit Processing Time | Instant for most methods | Instant for most methods |
| Withdrawal Processing Time | 24 hours | Same day for most methods |
| Minimum Withdrawal Amount | $5 | $1 |
| Withdrawal Fees | No fees for most methods | No fees for most methods |
| Regulated in Europe | Yes | Yes |
| Regulated in Australia | Yes | Yes |
| Regulated in the Middle East | Yes | No |
| Regulated in Asia | Yes | Yes |
| Regulated in Africa | Yes | No |
| Affiliate/Partner Program | Yes | Yes |
| Loyalty Program | Yes (XM Points for trading) | No |
| Demo Account Availability | Yes, unlimited duration | Yes, expires after 30 days unless extended |
| Professional Accounts Available | Yes | Yes |
| Minimum Trade Size | 0.01 lots (micro lots) | 0.01 lots (micro lots) |
| Maximum Trade Size | 50 lots | 200 lots |
| Maximum Leverage for Professional Accounts | 0.38888888888889 | 0.38888888888889 |
| Margin Requirement for Cryptos | 50% | 50% |
| Margin Requirement for Stocks | 20% | 20% |
| Stop-Loss and Take-Profit Orders | Yes, available on all platforms | Yes, available on all platforms |
| Trailing Stop Orders | Yes | Yes |
| One-Click Trading | Yes | Yes |
| Market Depth (Level 2 Pricing) | No | Yes |
| Execution Model | Hybrid (Market Maker & STP) | True ECN/STP |
| Price Decimal Precision | 5-digit pricing | 5-digit pricing |
| Swap Rates Displayed | Yes, visible in MT4/MT5 | Yes, visible in MT4/MT5 and cTrader |
| Rebate Program | Yes (for active traders) | No |
| Cashback on Trading Volume | Available | Not available |
| Cryptocurrency Deposit Support | No | Yes (Bitcoin Wallet) |
| Interest on Account Balance | No | No |
| Trading Contests | Yes, frequently | No |
| Exclusive VIP Services | Yes (Personal Account Managers, Premium Education) | No |
| Slippage Rate | Low | Ultra-low |
| Market News Integration | Yes, daily updates | Yes, real-time |
| Real-Time Economic Calendar | Yes | Yes |
| Custom Indicator Support | Yes, on MT4/MT5 | Yes, on MT4/MT5, cTrader |
| Algorithmic Trading Competitions | No | No |
| HFT (High-Frequency Trading) Support | No | Yes |
| News Trading Allowed | Yes | Yes |
| Day Trading Friendly | Yes | Yes |
| Weekend Trading | No, except cryptocurrencies | No, except cryptocurrencies |
| Futures Trading | No | No |
| ECN Spreads on Forex | No (only STP) | Yes |
| Minimum Spread on Gold (Raw Account) | 0.3 pips | 0.0 pips |
| Leverage on Commodities | Up to 1:50 | Up to 1:500 |
| Leverage on Indices | Up to 1:200 | Up to 1:200 |
| Leverage on Stocks | Up to 1:5 | Up to 1:20 |
| Available Metals for Trading | Gold, Silver, Platinum, Palladium | Gold, Silver, Platinum, Palladium |
| Oil Trading Available | Yes (Brent, WTI) | Yes (Brent, WTI) |
| Soft Commodities Trading | Yes (Coffee, Cocoa, Cotton) | Yes (Coffee, Cocoa, Cotton, Sugar) |
| Stock Market Hours Coverage | US, EU, Asia | US, EU, Asia |
| Best for Scalping | No | Yes |
| Best for Beginners | Yes | No |
| Best for Algo Trading | No | Yes |
| Best for Institutional Trading | No | Yes |
| Account Verification Time | 24 hours | 24-48 hours |
| PAMM/MAM Accounts | Yes | Yes |
| Segregated Client Funds | Yes | Yes |
| Tier-1 Bank Liquidity Providers | Yes | Yes |
| Cryptocurrency Withdrawals | No | Yes |
| Withdrawal Request Processing | Within 24 hours | Within 24 hours, instant for some methods |
| Bank Wire Withdrawal Time | 2-5 business days | 2-5 business days |
| Hedging Strategy Restrictions | No | No |
| Arbitrage Trading Allowed | No | No |
| Weekend Customer Support | No | Yes (Live Chat) |
| Social Media Presence | Facebook, Twitter, Instagram, YouTube, LinkedIn | Facebook, Twitter, Instagram, YouTube, LinkedIn |
| Regulated in Multiple Jurisdictions | Yes | Yes |
| Best Suited for | Beginner traders, long-term traders, investors | Scalpers, high-frequency traders, professional traders |
| Overall Trading Cost (Commissions + Spreads) | Low | Ultra-low |
XM Trading is best for beginners and long-term traders with low deposit requirements and a variety of promotions, while IC Markets excels in ultra-low spreads, ECN execution, and high-frequency trading, making it ideal for scalpers and professionals.