IC Markets vs XM are popular forex and CFD trading platforms and are trusted by traders globally. However, each exchange has its outstanding features and advantages. Below, MForex will compare the IC Markets exchange and the Forex XM broker for traders to better understand.
Brief information about IC Markets vs XM
Here is some basic information to compare IC Markets and XM platforms:
About ICMarkets
IC Markets is one of the trusted trading exchanges in the investor community. Especially for those who want to experience trading with low spreads and high transparency.
IC Markets trading platform was established in Australia in 2007. IC Markets was built to provide a high-quality trading environment for traders around the world. This exchange quickly attracted attention because of its transparency, speed, and reputable trading conditions.
About Forex XM broker
XM is one of the most popular and trusted trading platforms by many traders. XM Exchange was founded in 2009 by Constantinos Cleanthous and Loukas Marangos. This exchange was founded in Belize in Central America and later expanded internationally.
XM quickly became one of the largest and most popular online trading platforms in the world. XM focuses on tools and services that help traders have the best trading experience. In addition, XM also focuses on transparency and reliability when traders trade.
With continuous development, XM has attracted a large number of traders worldwide. Currently, XM is one of the most famous and reliable trading exchanges in the financial market.
>>>See More: The most detailed way to XM login account on your phone.
Compare XM vs IC Markets
Before choosing a suitable trading platform, users need to carefully research information to decide. Specifically, when choosing between XM vs IC Markets:
About IC Markets vs XM Forex platform
- XM: XM supports the MetaTrader 4 and 5 platforms along with the WebTrader platform. XM mainly uses the STP (Straight Through Processing) model in trading. It allows access to live markets and offers a variety of account types. Including Micro account, Standard account, and XM Zero account.
- IC Markets: IC Markets also supports the MetaTrader 4 and 5 platforms but not the WebTrader platform. IC Markets uses ECN (Electronic Communication Network) and STP models. It offers account types with low spreads, especially the “Raw Spread” account with spreads from 0 pips.
About trading conditions XM vs IC Markets
Trading between IC Markets vs XM :
- XM: XM holds licenses from CySEC (Cyprus Securities and Exchange Commission) and ASIC (Australian Securities and Investments Commission). They comply with trading and financial regulations.
- IC Markets: IC Markets has a license from ASIC (Australian Securities and Investments Commission) and is considered one of the trustworthy exchanges with high transparency.
About transaction fees
- XM: XM offers fixed and variable spreads depending on the account type.
- IC Markets: IC Markets is famous for its low spreads and transparency in collecting trading fees. Their “Raw Spread” account even has spreads from 0 pips
About basic features IC Markets vs XM
Both IC Markets and XM offer a range of basic tools to assist traders. Here is some information about the basic tools that both exchanges have:
Basic tools of IC Markets:
- MetaTrader trading platform: IC Markets supports MetaTrader 4 and 5. These platforms provide full charting and technical analysis tools.
- Economic Calendars: IC Markets provides access to economic calendars to track important events and news.
- Market news and analysis: This platform provides traders with daily market analysis tools and articles.
- VPS (Virtual Private Server): IC Markets has a VPS service that allows you to run automated trading systems 24/7 without turning off your computer.
XM Basic Tools:
- MetaTrader and WebTrader trading platforms: XM supports MetaTrader 4 and 5. There is also a WebTrader platform so you can trade online without downloading software.
- Economic Calendars: XM provides online economic calendars for you to track important economic news and events.
- Market news and analysis: This platform provides daily market information and market analysis to help you make smart trading decisions.
- Use of Expert Advisors: XM allows the use of Expert Advisors and other automated trading programs on the MetaTrader platform.
Advantages and disadvantages of IC Markets vs XM
Choosing between IC Markets vs XM should be based on the user’s personal trading goals. Therefore, traders should carefully consider the trading conditions of each exchange before deciding.
Advantages and disadvantages of ICMarkets
Below are some advantages and disadvantages of the IC Markets trading platform:
Advantages of IC Markets
- Low spreads: IC Markets is famous for its account types that offer extremely competitive spreads. Includes “Raw Spread” accounts with spreads from 0 pips. This helps traders save on transaction costs.
- ECN and STP model: IC Markets uses ECN and STP trading model. It allows you to directly access quick transactions.
- Powerful trading platform: support on popular MetaTrader 4 and 5 platforms.
- License and reliability: IC Markets has a license from ASIC. This ensures transparency and strict compliance with trading and financial regulations.
- Professional customer support: IC Markets provides customer support services via phone, email, and online chat.
Disadvantages of IC Markets
- Limited customization: IC Markets has a wide range of account types but the number of account types is not diverse.
- Overnight trading fees: IC Markets charges swap fees when you hold positions overnight when trading long-term.
- Suitable for beginners: Although IC Markets has many account types. However, the “Raw Spread” account with low spreads will not be suitable for beginners. Because it fluctuates greatly with the market.
>>>See more: Compare Exness vs XM: Choosing the best trading platform?
Advantages and disadvantages of Forex XM broker
Here are some advantages and disadvantages of the XM platform:
Advantages of XM
- Diverse account types: XM offers many types of trading accounts. This allows users to choose the account that suits their needs.
- Powerful trading platform: XM supports the MetaTrader 4 and 5 platforms along with the WebTrader platform. This will provide flexibility to traders to choose the trading platform that is right for them.
- Fixed and variable spreads: XM allows you to choose between account types with fixed or variable spreads depending on the account type you choose.
- License and reliability: This broker has licenses from CySEC (Cyprus Securities and Exchange Commission) and ASIC (Australian Securities and Investments Commission). This increases the safety and reliability of XM.
- 24/24 customer support via online chat, phone, and email.
Disadvantages of XM
- Overnight swap fee: XM charges a swap fee when you hold a position overnight. This fee can increase trading costs for long-term traders.
- Limitations on XM transparency with trade execution.
XM vs IC Markets, which exchange should users use?
When choosing an exchange, consider carefully and consider the advantages, disadvantages, and your personal goals. Here are some points to consider when deciding to use an exchange:
Use the IC Markets platform
- Low spread priority: IC Markets is famous for its accounts that offer extremely competitive spreads. Especially the “Raw Spread” account with spreads from 0 pips.
- Advantages of transparency and ECN/STP model: IC Markets uses the ECN and STP model. It helps ensure transparency in trading and direct access to the market.
- Love the MetaTrader platform: IC Markets supports the MetaTrader 4 and 5 platforms.
- Professional support service: IC Markets is highly appreciated for its customer support service.
Use Forex XM broker
- Diverse account types: XM offers a variety of trading accounts from basic to professional. This allows you to choose an account that matches your trading experience.
- Spread and leverage: XM allows traders to choose between account types with fixed or custom spreads
- Uses the WebTrader platform: Allows access to online trading without downloading software.
Conclude
Thus, the above article has provided the necessary information about IC Markets vs XM. In addition, MForex will compare XM vs XTB in the next sharing articles so that traders can have more information, thereby choosing the most suitable trading platform for themselves.
FAQ
Which country does IC Markets vs XM belong to?
- IC Markets is headquartered in Australia and regulated by ASIC
- XM is headquartered in Belize and is regulated by CySEC and ASIC.
What are the trading account types offered by IC Markets vs XM?
- IC Markets offers account types such as Standard Account, Raw Spread Account, and cTrader Account.
- XM offers account types such as Micro Account, Standard Account, and XM Zero Account.
What trading platforms do IC Markets and XM support?
Both exchanges support MetaTrader 4 and 5 trading platforms.
In addition, XM also supports the WebTrader platform for online trading without downloading software.
