Side-by-side comparison of IC Markets and XM on every dimension professional traders care about — from fees and leverage to regulators, scalping rules, and EA support. Updated May 2026.
IC Markets is the world’s top ECN broker with 24+ Tier-1 liquidity providers. Founded in 2007 in Sydney, ECN execution makes it the favourite of every algo trader and high-volume scalper.
XM is one of the largest forex brokers with 10+ million clients in 196 countries. Famous for its $30 No Deposit Bonus and free educational content for new traders.
IC Markets wins 5/13 categories — the better all-round choice.
| Field | IC Markets | XM |
|---|---|---|
| Rebate per lot | $8.50 / lot | $11 / lot |
| Spread from | 0 pips | 0.6 pips |
| Execution speed | 35 ms | 65 ms |
| Max leverage | 1:500 | 1:1000 |
| Min deposit | $200 | $5 |
| User rating | 4.7 / 5 (3,987) | 4.4 / 5 (4,310) |
| Trust score | 9.12 / 10 | 8.50 / 10 |
| Execution type | ECN / DMA Aggregation | Market Execution / NDD |
| Liquidity providers | 25+ | 12+ |
| Regulators | ASIC (AU) #335692 · CySEC (CY) #362/18 · FSA (SC) #SD018 | ASIC (AU) #443670 · CySEC (CY) #120/10 · IFSC (BZ) #000261/397 |
| Platforms | MT4 · MT5 · cTrader · TradingView (Beta) · IC Mobile | MT4 · MT5 · XM WebTrader · XM Mobile |
| Payout frequency | รายวัน | รายวัน |
| Withdrawal time | 1 - 24 ชม. | ภายใน 24 ชม. |
| Swap-free / Islamic | ✓ | ✓ |
| Scalping allowed | ✓ | ✓ |
| EA / algo allowed | ✓ | ✓ |
| Negative balance protection | ✓ | ✓ |
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