IC Marketsvs
XMStock Broker Comparison
This head-to-head weighs cost models, platforms, and regulation between IC Markets and XM. The matchup pits broader exchange access against different regulatory footprints.
Our Verdict
IC Markets winsby 0.4 pts
IC Markets edges XM on editorial score and exchange access, making it the winner of this comparison.
No commercial relationship. The verdict and scores are entirely editorial. No payment influences this comparison.
Key Differences
- 1IC Markets provides access to 12 exchanges, XM covers 10.
- 2XM has research tools; IC Markets does not.
- 3IC Markets min deposit is $200; XM is $5.
Who should choose IC Markets vs XM?
Find out which stock broker best suits your investing profile.
Choose IC Markets if…
Choose IC Markets if you want access to 12 exchanges and DMA-style equity trading via IRESS.
Choose XM if…
Choose XM if you value 1,200+ share CFDs with research tools and multi-jurisdictional regulation.
Verdict by Trader Profile
Which broker wins for each type of stock trader, based on costs, safety, features, and editorial scoring.
Best for safety & regulation
It’s a tie
Both equally suited
XM benefits from broader regulation, including KNF and FSC, with compensation fund coverage.
Best for active traders
Recommended
IC Markets vs XM: Side-by-Side Stock Broker Comparison
 |  | |
|---|---|---|
| Editorial score | 4.1/ 5 | 3.7/ 5 |
| Min deposit | $200 | $5▼ lower |
| Spreads from | 0 pips▼ lower | 0.6 pips |
| Commission / lot | $7/lot | N/A |
IC Markets vs XM Stock Broker Pros & Cons
Pros
- 2,000+ share CFDs across US, UK, ASX, European, and Asian exchanges on MT5 and IRESS
- IRESS provides genuine DMA access to ASX and major global equity markets
- Commission-transparent pricing: USD 0.02/share on US stocks, no spread markup
- ASIC and CySEC regulated, tier-1 regulatory coverage for equity CFD trading
Cons
- CFDs only, no real share ownership, ISA wrapper, or dividend reinvestment programme
IC Markets vs XM: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
Highlighted rows show where the two brokers differ
| Criteria | IC Markets | XM |
|---|---|---|
| Trust & Regulation | ||
| Top-tier regulator (FCA, ASIC, SEC, etc.) | Pass | Pass |
| Segregated client funds | Pass | Pass |
| Negative balance protection | Pass | Pass |
| Compensation scheme (e.g. FSCS, SIPC) | Pass | Pass |
| Costs | ||
| Commission-free trading | Fail | Fail |
| Features | ||
| Fractional shares | Fail | Fail |
| Dividend reinvestment (DRIP) | Fail | Fail |
| Extended hours trading | Fail | Fail |
| IPO access | Fail | Fail |
| Short selling | Pass | Pass |
| Stock screener tool | Fail | Fail |
| Support | ||
| Mobile app | Pass | Pass |
| Advanced charting tools | Pass | Pass |
| 24/5 live chat | Pass | Pass |
| Phone support | Pass | Pass |
IC Markets vs XM: Frequently Asked Questions
The scores are close: IC Markets rates 4.1/5 and XM rates 3.7/5. IC Markets has a marginal edge in our scoring, but the difference is small enough that your specific priorities — fees, platforms, or regulatory jurisdiction — should guide the final choice.
IC Markets lists tighter spreads from 0, compared with XM's 0.6. For stock trading, also factor in any per-trade or per-share commissions — spreads and commissions together determine the true cost per trade.
XM has $5, while IC Markets requires at least $200. This makes XM more accessible for traders with limited starting capital.
Both IC Markets and XM hold licences from top-tier regulators, indicating a high standard of regulatory oversight. Check each broker's specific regulatory bodies to confirm coverage in your jurisdiction.
For beginners, two factors stand out: XM requires a lower minimum deposit ($5), lowering the barrier to entry, and both brokers provide negative balance protection. Also compare demo account availability and educational resources before deciding.
IC Markets lists maximum leverage of 5:1, while XM lists up to 1000:1. Available leverage depends on your jurisdiction. EU retail clients under ESMA rules are capped at 1:30 on major forex pairs.
IC Markets charges $7 per trade on commission-based accounts. Commission details for XM are not currently available. Check their website for up-to-date pricing. Stock commissions may be charged as a flat rate per trade or per share; confirm the exact structure on each broker's website.
IC Markets supports cTrader, MetaTrader 5, TradingView, MetaTrader 4, while XM supports MetaTrader 5, MetaTrader 4. Both provide MetaTrader 5 and MetaTrader 4. IC Markets has exclusive access to cTrader and TradingView.
Neither IC Markets nor XM is listed as offering commission-free trading in our data. Compare each broker's commission schedule directly, as fees vary by account type and the markets you trade.
Both IC Markets and XM are covered by a compensation scheme according to our data, providing an additional safety net for your stock investments. Confirm the specific scheme and coverage limit that applies to your account before depositing.
