IC Markets vs XM Group 2026: A Detailed Comparison for China Traders
Which broker is better for China traders in 2026? Expert analysis across 12 categories.
Choosing between IC Markets and XM Group is a common dilemma for China traders in 2026. Both brokers are internationally recognized, with IC Markets scoring 4.8/5 and XM Group 4.7/5. For traders in China, key factors include low trading costs, reliable deposit methods like Bank Transfer, Skrill, Neteller, and USDT, and compliance with local financial regulations. IC Markets is known for its tight spreads and raw pricing model, ideal for scalpers and algorithmic traders. XM Group, on the other hand, offers a more beginner-friendly environment with extensive educational resources and a generous bonus scheme. This comparison will help you decide which broker aligns with your trading style and local needs.
| Instrument | IC Markets | XM Group | Winner |
|---|---|---|---|
| EUR/USD avg spread | 0.09 pips + $3.5/lot | 0.0 pips + $3.5/lot | XM Group |
| XAU/USD (Gold) | $0.14 typical | $0.12 typical | XM Group |
| GBP/USD avg spread | 0.29 pips | 0.23 pips | XM Group |
| Standard acc spread | from 1.0 pips | from 0.8 pips | XM Group |
| ECN commission | $3.5/lot/side | $3.5/lot/side | Tie |
| Min deposit | $200 | $5 | IC Markets |
| Inactivity fee | ✓ | ✓ | Tie |
For China traders, trading costs are a major consideration. IC Markets offers spreads from 0.0 pips on its Raw Spread account with a commission of $3.50 per lot per side, making it highly competitive for high-volume traders. XM Group’s Ultra Low account starts at 0.6 pips with no commission, which is simpler but slightly more expensive for frequent traders. On a typical 10-lot trade, IC Markets costs about $70 in total, while XM Group costs around $120. For scalpers and day traders in China, IC Markets is clearly more cost-effective.
| Account Type | IC Markets | XM Group |
|---|---|---|
| Standard account | ✓ | ✓ |
| ECN / Raw spread | ✓ | ✓ |
| Islamic (swap-free) | ✓ | ✓ |
| Demo account | ✓ | ✓ |
| PAMM / MAM account | ✓ | ✓ |
| Zero spread account | ✓ | ✓ |
| Copy trading | ✗ | ✗ |
| VPS trading | ✓ | ✓ |
| Min deposit | $200 | $5 |
| Neg. balance protection | ✓ | ✓ |
| Entity / Asset | IC Markets | XM Group |
|---|---|---|
| China (offshore) | Up to 1:500 | Up to 1:500 |
| Forex major pairs | 1:500 | 1:500 |
| Gold (XAU/USD) | 1:200 | 1:200 |
| Indices | 1:100 | 1:100 |
| Cryptocurrencies | 1:2 to 1:10 | 1:2 to 1:10 |
| Margin call level | 80% | 80% |
| Stop out level | 50% | 50% |
| Asset Class | IC Markets | XM Group | Winner |
|---|---|---|---|
| Forex pairs | 90+ | 65+ | IC Markets |
| Gold (XAU/USD) | ✓ | ✓ | Tie |
| Oil (WTI/Brent) | ✓ | ✓ | Tie |
| Stock indices | 25+ indices | 20+ indices | IC Markets |
| Crypto CFDs | 30+ | 20+ | IC Markets |
| Stocks / Share CFDs | ✗ | ✗ | XM Group |
| ETFs | ✗ | ✗ | Tie |
| Options | ✗ | ✗ | Tie |
| Futures | ✗ | ✗ | Tie |
| Platform | IC Markets | XM Group |
|---|---|---|
| MetaTrader 4 (MT4) | ✓ | ✓ |
| MetaTrader 5 (MT5) | ✓ | ✓ |
| cTrader | ✓ | ✗ |
| TradingView | ✗ | ✗ |
| Expert Advisors (EAs) | ✓ | ✓ |
| Scalping allowed | ✓ | ✓ |
| Hedging allowed | ✓ | ✓ |
| Fixed spreads | ✗ | ✗ |
| Variable spreads | ✓ | ✓ |
Both brokers offer MetaTrader 4, MetaTrader 5, and cTrader, which are popular among China traders. IC Markets provides all three platforms, with cTrader being a standout for its advanced charting and fast execution. XM Group offers MT4 and MT5, but not cTrader. For China traders who value algorithmic trading and custom indicators, IC Markets has a slight edge. However, XM Group’s platforms are well-optimized for mobile trading, which is important for traders on the go.
| Factor | IC Markets | XM Group | Winner |
|---|---|---|---|
| Execution model | ECN/STP | True ECN | XM Group |
| Avg execution speed | ~30ms | ~40ms | IC Markets |
| Slippage | Very low | Very low | Tie |
| Requotes | Very rare | Very rare | Tie |
| Dealing desk | ✗ | ✗ | Tie |
| Scalping allowed | ✓ | ✓ | Tie |
| News trading | ✓ | ✓ | Tie |
| EA / Bot trading | ✓ | ✓ | Tie |
IC Markets is renowned for its low-latency execution, with servers located in New York and London, and average execution speeds under 40ms. XM Group also offers fast execution but with slightly higher average latency. For scalpers and high-frequency traders in China, IC Markets provides a clear advantage in execution quality.
| Safety Factor | IC Markets | XM Group |
|---|---|---|
| Primary regulator | ASIC | ASIC |
| Reg number | #335692 | #443670 |
| Verify registration | Verify ↗ | Verify ↗ |
| Top-tier regulated | ✓ | ✓ |
| Investor protection | ✓ | ✓ |
| Segregated funds | ✓ | ✓ |
| Neg. balance protection | ✓ | ✓ |
IC Markets is regulated by ASIC, CySEC, and FCA, while XM Group holds licenses from CySEC, ASIC, and IFSC. Neither broker is regulated by the local Chinese financial regulator, which is common for international brokers serving China. Both maintain client fund segregation and negative balance protection. For China traders, choosing a broker with strong external regulation adds a layer of security, especially when using payment methods like USDT and Skrill.
| Payment Method | IC Markets | XM Group |
|---|---|---|
| Bank Wire Transfer | ✓ | ✓ |
| Visa / Mastercard | ✓ | ✓ |
| Skrill | ✓ | ✓ |
| Neteller | ✓ | ✓ |
| USDT / Crypto | ✓ | ✓ |
| Deposit fee | None | None |
| Withdrawal time | E-wallets instant-24hrs; Cards 3-5 business days (up to 10); Int'l bank wire up to 14 days | Visa/Mastercard and e-wallets near-instant to 1-2 business days; bank wire several days |
| Min withdrawal | $50 | $50 |
Depositing and withdrawing funds is straightforward for China traders at both brokers. IC Markets accepts Bank Transfer, Skrill, Neteller, and USDT, with minimum deposits of $200. XM Group also supports these methods, plus local Chinese bank transfers, with a lower minimum of $5. Both brokers process withdrawals quickly: e-wallets and USDT within 24 hours, bank transfers in 1-3 days. IC Markets charges no deposit fees, while XM Group offers free withdrawals for the first withdrawal each month. USDT deposits are particularly popular among China traders for their speed and low cost.
| Islamic Account Feature | IC Markets | XM Group |
|---|---|---|
| Swap-free available | ✓ | ✓ |
| Admin fee instead of swap | On some instruments | On some instruments |
| MT4 / MT5 supported | ✓ | ✓ |
| Gold swap-free | ✓ | ✓ |
| Crypto swap-free | ✓ | ✓ |
| How to apply | Contact support | Contact support |
Both IC Markets and XM Group provide Islamic swap-free accounts for Muslim traders in China. IC Markets offers Islamic accounts on all account types, including Raw Spread and Standard, with no swap charges on overnight positions. XM Group offers Islamic accounts on Standard and Ultra Low accounts, also swap-free. However, both brokers may review accounts held open for extended periods (e.g., over 30 days) and may apply swap fees. China traders who require Islamic accounts will find both brokers accommodating.
| Support Feature | IC Markets | XM Group | Winner |
|---|---|---|---|
| Live chat | ✓ | ✓ | Tie |
| Phone support | ✓ | ✓ | Tie |
| Email support | ✓ | ✓ | Tie |
| 24/7 support | ✗ | ✗ | Tie |
| 24/5 support | ✓ | ✓ | Tie |
| Response time (chat) | <2 minutes | <3 minutes | IC Markets |
XM Group offers 24/5 customer support in Mandarin Chinese via live chat, phone, and email, which is a significant advantage for China traders. IC Markets provides 24/7 support in English, with limited Chinese-language support during Asian trading hours. For traders who prefer local-language assistance, XM Group is the better choice.
| Mobile Feature | IC Markets | XM Group | Winner |
|---|---|---|---|
| iOS App Store rating | 4.5★ | 4.3★ | IC Markets |
| Google Play rating | 4.3★ | 4.2★ | IC Markets |
| Biometric login | ✓ | ✓ | Tie |
| Push notifications | ✓ | ✓ | Tie |
| Full charting on mobile | ✓ | ✓ | Tie |
| Mobile deposit/withdrawal | ✓ | ✓ | Tie |
| TradingView mobile | ✗ | ✗ | Tie |
| Dark mode | ✓ | ✓ | Tie |
| Resource | IC Markets | XM Group | Winner |
|---|---|---|---|
| Video tutorials | 100+ videos | 50+ videos | IC Markets |
| Webinars (live) | ✗ | Monthly | Tie |
| Economic calendar | ✓ | ✓ | Tie |
| Market analysis | Daily | Basic | IC Markets |
| Beginner resources | Excellent | Basic | IC Markets |
Choose IC Markets if you...
- Are a scalper or high-volume trader needing tight spreads from 0.0 pips
- Prefer advanced platforms like cTrader for algorithmic trading
- Want the lowest trading costs on a per-lot basis
- Value fast execution speeds under 40ms
Choose XM Group if you...
- Are a beginner or retail trader looking for a low minimum deposit ($5)
- Prefer Mandarin Chinese customer support available 24/5
- Want access to generous bonuses and educational resources
- Need a simple, commission-free account structure
For China traders in 2026, the choice between IC Markets and XM Group depends on your trading style. IC Markets is superior for cost-conscious scalpers and algorithmic traders, offering tighter spreads, faster execution, and advanced platforms. XM Group is better for beginners and those who prioritize local-language support, low minimum deposits, and bonus programs. Both brokers accept Bank Transfer, Skrill, Neteller, and USDT, making them accessible for China traders. While neither is regulated by the local financial regulator, both maintain strong international oversight. Ultimately, IC Markets wins on cost and execution, while XM Group wins on accessibility and support.